Penthouse Residential Income
For Sale
$287,000
8591 FALLS RUN ROAD Unit K, Ellicott City, MD 21043
Penthouse residence offering a three-bedroom layout and two full bathrooms.
Property Size1,090 SF
Days on Market61
Property Features for 8591 FALLS RUN ROAD Unit K
General Information
Standard status
Active
Size
1,090 SF
Property subtype
Penthouse Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,653
Building Details
Building Size
1,090 SF
Year Built
1990
Listing Agency:
May Realty
Listed By:
Richard L May III · License #642439
(410) 919-3971
Source:
Thehulsmangroup
Added: Aug 25
Changed: Oct 21
Last Checked: Oct 23 at 2:22PM
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 May Realty
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Investment Insights
Based on property information with market context.
This residential income property is a penthouse unit with three bedrooms and two full bathrooms. The home was built in 1990 and is identified as Unit K at 8591 Falls Run Road in Ellicott City, Maryland.
Key Highlights
- Penthouse unit with 3 bedrooms and 2 full bathrooms
- Built in 1990
- Unit K at 8591 Falls Run Road, Ellicott City, MD 21043
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,862
Cap Rate
5.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$297,240
$297.2K
Cap Rate 7%
$212,314
$212.3K
Cap Rate 9%
$165,133
$165.1K
Market Conditions
NOI Build-Up for 1,090 SF
Gross rent
$28.4K $26.04/SF
− Vacancy
−$1.4K −$1.25/SF
EGI
$27.0K $24.79/SF
− OpEx
−$12.2K −$11.16/SF
NOI
$14.9K $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%
$297,240
Cap Rate 7%
$212,314
Cap Rate 9%
$165,133
Alternative Uses
Best Use
Apartment 5plus
$212.3K
$185.8K – $247.7K
NOI $14,862 @ 7.0% cap · market cap 5.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$404.2K
$353.7K – $471.6K
NOI $28,296 @ 7.0% cap · market cap 9.86%
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
378
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 - Penthouse residence offering a three-bedroom layout and two full bathrooms.
Where is this residential income property located?
The property is located at 8591 FALLS RUN ROAD Unit K Ellicott City, MD.
What is the asking price?
The asking price for this property is $287,000.
What are key features of this property?
This property features: Penthouse unit with 3 bedrooms and 2 full bathrooms; Built in 1990; Unit K at 8591 Falls Run Road, Ellicott City, MD 21043
