Three-Bedroom Residential Income
For Sale
$305,000
9060 GRACIOUS END COURT Unit 201, Columbia, MD 21046
Upper-level condominium with a private balcony, fireplace, and flexible dining area.
Property Size1,190 SF
Days on Market128
Property Features for 9060 GRACIOUS END COURT Unit 201
General Information
Standard status
Active
Size
1,190 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$4,273
Building Details
Building Size
1,190 SF
Year Built
1996
Listing Agency:
Real Broker, LLC
Listed By:
John Benedictis · License #584651
(410) 977-1355
Source:
Thehulsmangroup
Added: May 19
Changed: Sep 17
Last Checked: Sep 22 at 10:10PM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This upper-level condominium in Gateway Commerce Center offers three bedrooms, a dedicated dining area, and a living room with a fireplace. A private balcony extends the living space outdoors, while the layout also provides room for guests, work-from-home use, hobbies, or additional living needs. The property was built in 1996.
The condominium is located in Columbia’s Village of Owen Brown, with Lake Elkhorn nearby for walking paths, waterfront views, and recreation. The Mall in Columbia, Bon Fresco, and The Iron Bridge Wine Company are also identified in the surrounding area. Maryland Route 29 provides commuter access, with parks, trails, and community amenities nearby.
The condominium is located in Columbia’s Village of Owen Brown, with Lake Elkhorn nearby for walking paths, waterfront views, and recreation. The Mall in Columbia, Bon Fresco, and The Iron Bridge Wine Company are also identified in the surrounding area. Maryland Route 29 provides commuter access, with parks, trails, and community amenities nearby.
Key Highlights
- Three‑bedroom upper‑level condominium
- Private balcony for outdoor space
- Living room with fireplace
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
$15,471
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
5.07%
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%
$309,420
$309.4K
Cap Rate 7%
$221,014
$221.0K
Cap Rate 9%
$171,900
$171.9K
Market Conditions
NOI Build-Up for 1,190 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
$30.0K $25.20/SF
− Vacancy
−$1.9K −$1.56/SF
EGI
$28.1K $23.64/SF
− OpEx
−$12.7K −$10.64/SF
NOI
$15.5K $13.00/SF
Area
Columbia, MD
Vacancy
6.20%
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%
$309,420
Cap Rate 7%
$221,014
Cap Rate 9%
$171,900
Alternative Uses
Best Use
Apartment 5plus
$221.0K
$193.4K – $257.9K
NOI $15,471 @ 7.0% cap · market cap 5.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$378.3K
$331.0K – $441.4K
NOI $26,483 @ 7.0% cap · market cap 8.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
771
Businesses Nearby
Explore this area
Business Placement
Demographics for 21046, MD
16,023
Population
6,361
Households
2.5
Avg Household Size
37
Median Age
62%
College-Educated
98%
High-School Grad
7.8 sq mi
ZIP Area
2,054
Density / Sq Mi
$126,549
Median Household Income
$70,187
Median Earnings
$2,099
Median Rent
$469,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Upper-level condominium with a private balcony, fireplace, and flexible dining area.
Where is this residential income property located?
The property is located at 9060 GRACIOUS END COURT Unit 201 Columbia, MD.
What is the asking price?
The asking price for this property is $305,000.
What are key features of this property?
This property features: Three‑bedroom upper‑level condominium; Private balcony for outdoor space; Living room with fireplace
