Two-Bedroom Residential Income
8378 MONTGOMERY RUN ROAD Unit A, Ellicott City, MD 21043
For Sale
$279,000
Renovated patio-level condo with updated baths and a porch-level outdoor area.
Property Size935 SF
Days on Market167
Property Features for 8378 MONTGOMERY RUN ROAD Unit A
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
pool
open green space
tot lot
Building Details
Building Size
Year Built
Listing Agency:
Keller Williams Realty Centre
Listed By:
Kim J Nowalk · License #510000
(410) 977-3910
Source:
Bradkappel
Added: May 27
Changed: Nov 8
Last Checked: Nov 8 at 4:38PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty Centre
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Investment Insights
Based on property information with market context.
This 1989 residential income property is a two-bedroom, two-bath condo with patio-level access. Interior updates include laminate flooring, granite counters, custom-tile bathroom finishes, fresh paint, and replacement light fixtures. Building systems include a commercial-grade water heater and a recently replaced heat pump.
Community amenities include two pools, open green space, and a tot lot. The property is in Ellicott City, near shopping and restaurants, and includes one assigned parking space along with additional parking.
Community amenities include two pools, open green space, and a tot lot. The property is in Ellicott City, near shopping and restaurants, and includes one assigned parking space along with additional parking.
Key Highlights
- Two bedrooms and two bathrooms
- Patio‑level condo with porch‑level outdoor access
- Updated interiors include granite counters, laminate flooring, and custom‑tile baths
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,748
Cap Rate
4.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$254,960
$255.0K
Cap Rate 7%
$182,114
$182.1K
Cap Rate 9%
$141,644
$141.6K
Market Conditions
NOI Build-Up for 935 SF
Gross rent
$24.3K $26.04/SF
− Vacancy
−$1.2K −$1.25/SF
EGI
$23.2K $24.79/SF
− OpEx
−$10.4K −$11.16/SF
NOI
$12.7K $13.63/SF
Area
Howard County, MD
Vacancy
4.80%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$254,960
Cap Rate 7%
$182,114
Cap Rate 9%
$141,644
Alternative Uses
Best Use
Apartment 5plus
$182.1K
$159.4K – $212.5K
NOI $12,748 @ 7.0% cap · market cap 4.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$346.7K
$303.4K – $404.5K
NOI $24,272 @ 7.0% cap · market cap 8.70%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
397
Businesses Nearby
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Business Placement
Demographics for 21043, MD
48,775
Population
17,978
Households
2.7
Avg Household Size
39
Median Age
64%
College-Educated
95%
High-School Grad
17.1 sq mi
ZIP Area
2,852
Density / Sq Mi
$141,846
Median Household Income
$77,574
Median Earnings
$1,964
Median Rent
$607,300
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Renovated patio-level condo with updated baths and a porch-level outdoor area.
Where is this residential income property located?
The property is located at 8378 MONTGOMERY RUN ROAD Unit A Ellicott City, MD.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: Two bedrooms and two bathrooms; Patio‑level condo with porch‑level outdoor access; Updated interiors include granite counters, laminate flooring, and custom‑tile baths
