Penthouse Residential Income
For Sale
$299,900
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 Market43
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 3
Last Checked: Oct 4 at 3:37PM
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
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
4.96%
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 4.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$404.2K
$353.7K – $471.6K
NOI $28,296 @ 7.0% cap · market cap 9.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
1
Residential units
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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 $299,900.
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
