Updated Two-Bedroom Residential Income
For Sale
$285,000
8393 MONTGOMERY RUN ROAD Unit L, Ellicott City, MD 21043
Condominium with vaulted ceilings, balcony access, renovated baths, and a refreshed kitchen with custom cabinetry.
Property Size948 SF
Days on Market62
Property Features for 8393 MONTGOMERY RUN ROAD Unit L
General Information
Standard status
Active
Size
948 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,673
Amenities
private balcony
in-unit laundry
Building Details
Building Size
948 SF
Year Built
1988
Listing Agency:
Northrop Realty
Listed By:
Kathleen Sloan-Beard · License #611914
(443) 604-3385
Source:
Thehulsmangroup
Added: Aug 6
Changed: Oct 3
Last Checked: Oct 5 at 10:43PM
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 Northrop Realty
Investment Insights
Based on property information with market context.
This two-bedroom, two-bath condominium in Village of Montgomery Run features an open interior with vaulted and cathedral ceilings, wide-plank luxury vinyl flooring, and abundant natural light. The living room opens to a private balcony, while the dining area benefits from corner windows. The kitchen includes white soft-close cabinetry, butcher block countertops, an apron-front farmhouse sink, and contemporary finishes. The primary suite offers a walk-in closet with custom organizers and an en-suite bath. A second bedroom, updated hall bath, and laundry area with a stackable washer and dryer complete the residence.
The property has received substantial improvements across multiple years. Updates include refinished kitchen countertops in 2026; custom closet shelving, renovated bathrooms, and new hinge closet doors in 2024; an electrical panel in 2023; kitchen cabinetry, countertops, farmhouse sink, and laundry appliances in 2022; windows in 2021; and a hot water heater and fire-rated front door in 2019. The 2018 work included the roof, HVAC system, sliding glass door, Nest thermostat, and flooring.
The property has received substantial improvements across multiple years. Updates include refinished kitchen countertops in 2026; custom closet shelving, renovated bathrooms, and new hinge closet doors in 2024; an electrical panel in 2023; kitchen cabinetry, countertops, farmhouse sink, and laundry appliances in 2022; windows in 2021; and a hot water heater and fire-rated front door in 2019. The 2018 work included the roof, HVAC system, sliding glass door, Nest thermostat, and flooring.
Key Highlights
- Two‑bedroom, two‑bath condominium in Village of Montgomery Run
- Vaulted living room with direct access to a private balcony
- Renovated kitchen with soft‑close cabinetry, butcher block countertops, and farmhouse sink
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,926
Cap Rate
4.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$258,520
$258.5K
Cap Rate 7%
$184,657
$184.7K
Cap Rate 9%
$143,622
$143.6K
Market Conditions
NOI Build-Up for 948 SF
Gross rent
$24.7K $26.04/SF
− Vacancy
−$1.2K −$1.25/SF
EGI
$23.5K $24.79/SF
− OpEx
−$10.6K −$11.16/SF
NOI
$12.9K $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%
$258,520
Cap Rate 7%
$184,657
Cap Rate 9%
$143,622
Alternative Uses
Best Use
Apartment 5plus
$184.7K
$161.6K – $215.4K
NOI $12,926 @ 7.0% cap · market cap 4.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$351.6K
$307.6K – $410.2K
NOI $24,610 @ 7.0% cap · market cap 8.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
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 - Condominium with vaulted ceilings, balcony access, renovated baths, and a refreshed kitchen with custom cabinetry.
Where is this residential income property located?
The property is located at 8393 MONTGOMERY RUN ROAD Unit L Ellicott City, MD.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath condominium in Village of Montgomery Run; Vaulted living room with direct access to a private balcony; Renovated kitchen with soft‑close cabinetry, butcher block countertops, and farmhouse sink
