Residential Income Property with Private
8390 MONTGOMERY RUN ROAD Unit E, Ellicott City, MD 21043
For Sale
$290,000
A renovated second-floor residence offers a separate dining room, refreshed kitchen and baths, and a private outdoor space.
Property Size1,209 SF
Price / SF$239.87
Days on Market118
Property Features for 8390 MONTGOMERY RUN ROAD Unit E
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
outdoor swimming pool
tot lot
walking/jogging paths
personal deck
Building Details
Building Size
Year Built
Listing Agency:
Weichert Realtors - McKenna & Vane
Listed By:
Deborah Willis · License #634300
(301) 674-0015
Source:
Genedru
Added: Jul 13
Changed: Nov 7
Last Checked: Nov 7 at 1:29PM
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 Weichert Realtors - McKenna & Vane
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Investment Insights
Based on property information with market context.
This second-floor residence in the Village of Montgomery Run has three bedrooms, two bathrooms, and 1,209 square feet. Interior updates include fresh paint, luxury vinyl tile flooring, and remodeled kitchen and bathroom finishes. The galley kitchen has granite countertops, black and stainless appliances, and painted wood cabinetry. A separate dining room connects with the living room, and the private deck overlooks mature trees and green space. The home was built in 1988, and its HVAC system was replaced in November 2020.
The condo community includes an outdoor pool, tot lot, and walking and jogging paths. One assigned parking space is included. The property is in Ellicott City, Maryland.
The condo community includes an outdoor pool, tot lot, and walking and jogging paths. One assigned parking space is included. The property is in Ellicott City, Maryland.
Key Highlights
- Three‑bedroom, two‑bath residence with 1,209 square feet
- Second‑floor home with private deck facing mature trees and green space
- Granite counters, black and stainless appliances, and painted wood cabinetry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,484
Cap Rate
5.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$329,680
$329.7K
Cap Rate 7%
$235,486
$235.5K
Cap Rate 9%
$183,156
$183.2K
Market Conditions
NOI Build-Up for 1,209 SF
Gross rent
$31.5K $26.04/SF
− Vacancy
−$1.5K −$1.25/SF
EGI
$30.0K $24.79/SF
− OpEx
−$13.5K −$11.16/SF
NOI
$16.5K $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%
$329,680
Cap Rate 7%
$235,486
Cap Rate 9%
$183,156
Alternative Uses
Best Use
Apartment 5plus
$235.5K
$206.1K – $274.7K
NOI $16,484 @ 7.0% cap · market cap 5.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$448.4K
$392.3K – $523.1K
NOI $31,385 @ 7.0% cap · market cap 10.82%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
410
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 - A renovated second-floor residence offers a separate dining room, refreshed kitchen and baths, and a private outdoor space.
Where is this residential income property located?
The property is located at 8390 MONTGOMERY RUN ROAD Unit E Ellicott City, MD.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Three‑bedroom, two‑bath residence with 1,209 square feet; Second‑floor home with private deck facing mature trees and green space; Granite counters, black and stainless appliances, and painted wood cabinetry
