Duplex-Style Home with Licensed
New
For Sale
$995,000
8502 Dark Hawk Circle, Columbia, MD 21045
Corner-lot Columbia residence includes a licensed private apartment, refreshed interiors, and separate access for independent living.
Property Size5,300 SF
Price / SF$187.74
Days on Market6
Property Features for 8502 Dark Hawk Circle
General Information
Standard status
Active
Size
5,300 SF
Property subtype
Multi-family
Lease Term
[]
Building Details
Year Built
1991
Buildings
1
Listing Agency:
Argonaut Property Group LLC
Listed By:
Jason A Sutton
Source:
Deepcreeklake
Added: Aug 26
Changed: Aug 31
Last Checked: Aug 30 at 4:07PM
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 Argonaut Property Group LLC
Investment Insights
Based on property information with market context.
This Columbia duplex-style residence at 8502 Dark Hawk Circle offers 5–6 bedrooms, multiple living areas, and an existing Howard County Rental Housing License for Apartment B. The private suite has its own entrance, living area, bedroom, full bath, wheelchair-accessible curbless shower, and organized closets. The main home includes an updated kitchen with stainless-steel appliances and a farmhouse sink, refinished hardwood floors, luxury carpeting, custom tilework, refreshed lighting, two recently installed HVAC systems, updated baths, and a resurfaced deck.
An oversized corner lot places the property within walking distance of neighborhood schools. The layout also includes a substantial lower level that may support additional guest, family, or rental accommodations, subject to applicable Howard County approvals. The property’s separate living zones can accommodate multigenerational arrangements, a primary residence with a licensed apartment, or other permitted configurations.
An oversized corner lot places the property within walking distance of neighborhood schools. The layout also includes a substantial lower level that may support additional guest, family, or rental accommodations, subject to applicable Howard County approvals. The property’s separate living zones can accommodate multigenerational arrangements, a primary residence with a licensed apartment, or other permitted configurations.
Key Highlights
- Existing Howard County Rental Housing License for Apartment B
- Private apartment includes separate entrance, living area, bedroom, full bath, and curbless accessible shower
- 5–6 bedrooms and multiple distinct living areas
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$77,008
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.74%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,540,160
$1.5M
Cap Rate 7%
$1,100,114
$1.1M
Cap Rate 9%
$855,644
$855.6K
Market Conditions
NOI Build-Up for 5,300 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$117.7K $22.20/SF
− Vacancy
−$7.6K −$1.44/SF
EGI
$110.0K $20.76/SF
− OpEx
−$33.0K −$6.23/SF
NOI
$77.0K $14.53/SF
Area
Columbia, MD
Vacancy
6.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,540,160
Cap Rate 7%
$1,100,114
Cap Rate 9%
$855,644
Alternative Uses
Best Use
Multifamily LT 5
$1.10M
$962.6K – $1.28M
NOI $77,008 @ 7.0% cap · market cap 7.74%
Second Best
Apartment 5plus
$984.3K
$861.3K – $1.15M
NOI $68,904 @ 7.0% cap · market cap 6.93%
Theoretical Best
Office A
$1.68M
$1.47M – $1.97M
NOI $117,950 @ 7.0% cap · market cap 11.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
716
Businesses Nearby
Explore this area
Business Placement
Demographics for 21045, MD
39,321
Population
15,826
Households
2.5
Avg Household Size
38
Median Age
57%
College-Educated
94%
High-School Grad
9.7 sq mi
ZIP Area
4,054
Density / Sq Mi
$117,323
Median Household Income
$62,522
Median Earnings
$1,768
Median Rent
$438,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Corner-lot Columbia residence includes a licensed private apartment, refreshed interiors, and separate access for independent living.
Where is this duplex located?
The property is located at 8502 Dark Hawk Circle Columbia, MD.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Existing Howard County Rental Housing License for Apartment B; Private apartment includes separate entrance, living area, bedroom, full bath, and curbless accessible shower; 5–6 bedrooms and multiple distinct living areas
