Two-Bedroom Residential Income
For Sale
$199,900
Pending
8397 MONTGOMERY RUN ROAD Unit G, Ellicott City, MD 21043
The condo has two full baths, a covered balcony, and separate living and dining areas.
Property Size972 SF
Days on Market16
Property Features for 8397 MONTGOMERY RUN ROAD Unit G
General Information
Standard status
Pending
Size
972 SF
Property subtype
Penthouse Unit/Flat/Apartment
Property Condition
Severity
Repairs Needed
Evidence
a little TLC
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,669
Building Details
Building Size
972 SF
Year Built
1988
Listing Agency:
Coldwell Banker Realty
Listed By:
Nancy A Hulsman · License #79849
(410) 984-3125
Source:
Thehulsmangroup
Added: Oct 9
Changed: Oct 21
Last Checked: Oct 23 at 12:36PM
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 Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
This two-bedroom, two-bath condo was built in 1988 and remains in its original condition. Hardwood flooring runs through the foyer and main living and dining areas. Sliding glass doors connect the living room to a covered balcony. The primary bedroom has a private full bath and walk-in closet; a second bedroom and full hall bath complete the layout. The kitchen is functional and can be updated over time.
The property is in Ellicott City, with access to commuter routes serving Baltimore, Washington, D.C., and Fort Meade. Shopping, dining, and parks are also nearby.
The property is in Ellicott City, with access to commuter routes serving Baltimore, Washington, D.C., and Fort Meade. Shopping, dining, and parks are also nearby.
Key Highlights
- Two bedrooms and two full baths
- Covered balcony accessed from the living room
- Hardwood flooring in the foyer, living room, and dining room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,253
Cap Rate
6.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$265,060
$265.1K
Cap Rate 7%
$189,329
$189.3K
Cap Rate 9%
$147,256
$147.3K
Market Conditions
NOI Build-Up for 972 SF
Gross rent
$25.3K $26.04/SF
− Vacancy
−$1.2K −$1.25/SF
EGI
$24.1K $24.79/SF
− OpEx
−$10.8K −$11.16/SF
NOI
$13.3K $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%
$265,060
Cap Rate 7%
$189,329
Cap Rate 9%
$147,256
Alternative Uses
Best Use
Apartment 5plus
$189.3K
$165.7K – $220.9K
NOI $13,253 @ 7.0% cap · market cap 6.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$360.5K
$315.4K – $420.6K
NOI $25,233 @ 7.0% cap · market cap 12.62%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
410
Businesses Nearby
Explore this area
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 - The condo has two full baths, a covered balcony, and separate living and dining areas.
Where is this residential income property located?
The property is located at 8397 MONTGOMERY RUN ROAD Unit G Ellicott City, MD.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Two bedrooms and two full baths; Covered balcony accessed from the living room; Hardwood flooring in the foyer, living room, and dining room
