Second-Floor Residential Income
For Sale
$285,000
8555 FALLS RUN ROAD Unit H, Ellicott City, MD 21043
Open-plan condominium with balcony, remodeled baths, and community pool.
Property Size943 SF
Days on Market25
Property Features for 8555 FALLS RUN ROAD Unit H
General Information
Standard status
Active
Size
943 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,656
Amenities
swimming pool
Building Details
Building Size
943 SF
Year Built
1989
Listing Agency:
Cummings & Co. Realtors
(443) 996-0241
Listed By:
Casey J Franz · License #664668
(443) 996-0241
Source:
Thehulsmangroup
Added: Jul 28
Changed: Aug 16
Last Checked: Aug 20 at 12:07PM
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 Cummings & Co. Realtors
Investment Insights
Based on property information with market context.
This second-floor condominium at 8555 Falls Run Road, Unit H, includes two bedrooms and two full bathrooms within an open interior layout. The living room connects with a dedicated dining area, while the updated kitchen includes granite countertops, stainless steel appliances, and substantial cabinet storage. The primary suite has a walk-in closet and an en-suite bath; a second remodeled full bath serves the rest of the home. A private balcony adds outdoor space, and the property was built in 1989.
Community features include a swimming pool and maintained grounds. The home also offers access to Rt 100, 29, and 95, along with nearby shopping and dining in Ellicott City, Maryland.
Community features include a swimming pool and maintained grounds. The home also offers access to Rt 100, 29, and 95, along with nearby shopping and dining in Ellicott City, Maryland.
Key Highlights
- Two‑bedroom, two‑bathroom second‑floor condominium
- Updated kitchen with granite countertops and stainless steel appliances
- Primary suite includes a walk‑in closet and en‑suite bath
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
$12,857
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
4.51%
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%
$257,140
$257.1K
Cap Rate 7%
$183,671
$183.7K
Cap Rate 9%
$142,856
$142.9K
Market Conditions
NOI Build-Up for 943 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
$24.6K $26.04/SF
− Vacancy
−$1.2K −$1.25/SF
EGI
$23.4K $24.79/SF
− OpEx
−$10.5K −$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 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%
$257,140
Cap Rate 7%
$183,671
Cap Rate 9%
$142,856
Alternative Uses
Best Use
Apartment 5plus
$183.7K
$160.7K – $214.3K
NOI $12,857 @ 7.0% cap · market cap 4.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$349.7K
$306.0K – $408.0K
NOI $24,480 @ 7.0% cap · market cap 8.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
378
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Open-plan condominium with balcony, remodeled baths, and community pool.
Where is this residential income property located?
The property is located at 8555 FALLS RUN ROAD Unit H 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‑bathroom second‑floor condominium; Updated kitchen with granite countertops and stainless steel appliances; Primary suite includes a walk‑in closet and en‑suite bath
