Two-Unit
For Sale
$485,000
9349 READER LANE, Columbia, MD 21045
Two licensed residences offer separate layouts, with one currently occupied by a tenant.
Property Size2,081 SF
Days on Market11
Property Features for 9349 READER LANE
General Information
Standard status
Active
Size
2,081 SF
Property subtype
Duplex
Units
Unit Mix
1 x 3BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$5,234
Building Details
Building Size
2,081 SF
Year Built
1971
Listing Agency:
4th Colony Realty
Listed By:
Katerina Erhard · License #05995
(410) 980-6210
Source:
Thehulsmangroup
Added: Sep 26
Changed: Oct 3
Last Checked: Oct 4 at 3:38PM
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 4th Colony Realty
Investment Insights
Based on property information with market context.
This two-unit townhouse contains a three-level main residence and a separate one-level apartment. The main unit has three bedrooms, two bathrooms, a galley kitchen with granite counters and stainless appliances, and updated flooring. Its walkout basement includes a recreation room, full bathroom, and storage and laundry space. The upper apartment has one bedroom, one bathroom, a living area, a galley kitchen, private laundry, and storage in the stairwell. Both units are licensed and lead-free; the upper apartment is tenant-occupied. The property was built in 1971.
A private backyard opens onto a shared common area. Oakland Mills Middle and High Schools, Blandair Regional Park, and a walking and jogging path are within walking distance. Shopping, dining, and major highways are nearby.
A private backyard opens onto a shared common area. Oakland Mills Middle and High Schools, Blandair Regional Park, and a walking and jogging path are within walking distance. Shopping, dining, and major highways are nearby.
Key Highlights
- Two licensed, lead‑free residences in a 2,081‑square‑foot property
- Three‑level main unit with 3 bedrooms and 2 bathrooms
- Separate upper apartment has 1 bedroom, 1 bathroom, private laundry, and storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,237
Cap Rate
6.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$604,740
$604.7K
Cap Rate 7%
$431,957
$432.0K
Cap Rate 9%
$335,967
$336.0K
Market Conditions
NOI Build-Up for 2,081 SF
Gross rent
$46.2K $22.20/SF
− Vacancy
−$3.0K −$1.44/SF
EGI
$43.2K $20.76/SF
− OpEx
−$13.0K −$6.23/SF
NOI
$30.2K $14.53/SF
Area
Columbia, MD
Vacancy
6.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$604,740
Cap Rate 7%
$431,957
Cap Rate 9%
$335,967
Alternative Uses
Best Use
Multifamily LT 5
$432.0K
$378.0K – $504.0K
NOI $30,237 @ 7.0% cap · market cap 6.23%
Second Best
Apartment 5plus
$386.5K
$338.2K – $450.9K
NOI $27,054 @ 7.0% cap · market cap 5.58%
Theoretical Best
Office A
$661.6K
$578.9K – $771.9K
NOI $46,312 @ 7.0% cap · market cap 9.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
333
Businesses Nearby
Explore this area
Business Placement
Demographics for 21045, MD
39,321
Population
15,826
Households
2.5
Avg Household Size
38
Median Age
57%
College-Educated
94%
High-School Grad
9.7 sq mi
ZIP Area
4,054
Density / Sq Mi
$117,323
Median Household Income
$62,522
Median Earnings
$1,768
Median Rent
$438,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two licensed residences offer separate layouts, with one currently occupied by a tenant.
Where is this duplex located?
The property is located at 9349 READER LANE Columbia, MD.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: Two licensed, lead‑free residences in a 2,081‑square‑foot property; Three‑level main unit with 3 bedrooms and 2 bathrooms; Separate upper apartment has 1 bedroom, 1 bathroom, private laundry, and storage
