Two-Bedroom Residential Income
For Sale
$189,000
9 SUNTOP COURT Unit 202, Baltimore, MD 21209
Tenant-occupied condo with an open layout, private balcony, and community recreation amenities.
Property Size1,329 SF
Price / SF$142.11
Days on Market24
Property Features for 9 SUNTOP COURT Unit 202
General Information
Standard status
Active
Size
1,329 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Amenities
pool
tennis courts
in-unit washer/dryer
balcony
Building Details
Building Size
1,329 SF
Year Built
1978
Listing Agency:
Bay View Realty
(410) 812-7282
Listed By:
Tanya K Hall · License #17438
(410) 812-7282
Source:
Thehulsmangroup
Added: Jul 29
Changed: Aug 20
Last Checked: Aug 20 at 11:10AM
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 Bay View Realty
Investment Insights
Based on property information with market context.
This tenant-occupied residential income property is a two-bedroom, two-bath condominium at 9 Suntop Court, Unit 202. The approximately 1,330-square-foot residence, built in 1978, includes an open living arrangement, updated kitchen, in-unit washer and dryer, and a balcony oriented toward wooded views. Residents have access to a community pool and tennis courts.
The current lease expires in October 2026, and the tenant has expressed interest in remaining through October 2027. The condominium is zoned for Summit Park Elementary and offers access to I-695 and I-83. Nearby higher-education institutions include Stevenson, Towson, Notre Dame, and Loyola, with green spaces also identified in the surrounding area.
The current lease expires in October 2026, and the tenant has expressed interest in remaining through October 2027. The condominium is zoned for Summit Park Elementary and offers access to I-695 and I-83. Nearby higher-education institutions include Stevenson, Towson, Notre Dame, and Loyola, with green spaces also identified in the surrounding area.
Key Highlights
- Two‑bedroom, two‑bath condominium with approximately 1,330 sq ft of living space
- Current lease expires in October 2026; tenant wants to stay through October 2027
- Open‑concept layout with modern kitchen and in‑unit washer/dryer
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
$17,328
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
9.17%
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%
$346,560
$346.6K
Cap Rate 7%
$247,543
$247.5K
Cap Rate 9%
$192,533
$192.5K
Market Conditions
NOI Build-Up for 1,330 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
$33.5K $25.20/SF
− Vacancy
−$2.0K −$1.51/SF
EGI
$31.5K $23.69/SF
− OpEx
−$14.2K −$10.66/SF
NOI
$17.3K $13.03/SF
Area
Baltimore, MD
Vacancy
6.00%
Lease Rate
$25.20 /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%
$346,560
Cap Rate 7%
$247,543
Cap Rate 9%
$192,533
Alternative Uses
Best Use
Apartment 5plus
$247.5K
$216.6K – $288.8K
NOI $17,328 @ 7.0% cap · market cap 9.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$318.6K
$278.8K – $371.7K
NOI $22,304 @ 7.0% cap · market cap 11.80%
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
468
Businesses Nearby
Explore this area
Business Placement
Demographics for 21209, MD
28,659
Population
12,086
Households
2.4
Avg Household Size
37
Median Age
60%
College-Educated
96%
High-School Grad
6.5 sq mi
ZIP Area
4,409
Density / Sq Mi
$87,669
Median Household Income
$57,694
Median Earnings
$1,640
Median Rent
$418,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Tenant-occupied condo with an open layout, private balcony, and community recreation amenities.
Where is this residential income property located?
The property is located at 9 SUNTOP COURT Unit 202 Baltimore, MD.
What is the asking price?
The asking price for this property is $189,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath condominium with approximately 1,330 sq ft of living space; Current lease expires in October 2026; tenant wants to stay through October 2027; Open‑concept layout with modern kitchen and in‑unit washer/dryer
