Residential Income Property with Lake
For Sale
$375,000
9515 HICKORY LIMB #304, Columbia, MD 21045
Two-story condo residence with open living areas, a loft, multiple balconies, and access to trails near Lake Elkhorn.
Property Size1,790 SF
Price / SF$209.50
Days on Market134
Property Features for 9515 HICKORY LIMB #304
General Information
Standard status
Active
Size
1,790 SF
Property subtype
Apartment
Units
Unit Mix
1 x 3BR/2BA
Multifamily Units
1
Amenities
wood-burning fireplace
balcony
chandelier
white cabinetry
stainless steel and black appliances
stacked laundry
loft
walk-in closet
dual-sink vanity
soaking tub
separate shower
lake views
scenic trails
gazebos
common gathering areas
Fireplace
Central A/C
Heat Pump(s)
Ceiling Fan(s)
Disposal
Dishwasher
Refrigerator
Oven/Range - Electric
Washer/Dryer Stacked
Dryer - Front Loading
Washer - Front Loading
Deck
Building Details
Year Built
1989
Listed By:
Bob Lucido · License #4037
(410) 979-6024
Source:
Kw
Added: Jun 5
Changed: Oct 15
Last Checked: Oct 16 at 6:15AM
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 Bob Lucido
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This two-story condo residence provides 1,790 finished square feet with three bedrooms and two full bathrooms. The main level combines an open living and dining arrangement with vaulted ceilings, upper windows, a wood-burning fireplace, and balcony access. The kitchen includes white cabinetry, stainless steel and black appliances, and substantial counter and storage space. Two bedrooms and a full bathroom are also located downstairs, with stacked laundry inside the bathroom.
A loft overlooks the living area and adds flexible interior space. The owner's suite includes a walk-in closet, private balcony, dual-sink vanity, Roman soaking tub, and separate shower. Additional features include central A/C, heat pump(s), ceiling fans, a disposal, dishwasher, and front-loading washer and dryer. Built in 1989, the property offers tree-lined and lake views from two balconies. Village of Owen Brown residents have access to scenic trails, gazebos, and shared gathering areas near Lake Elkhorn Park, with shopping, dining, entertainment, and major commuter routes nearby.
A loft overlooks the living area and adds flexible interior space. The owner's suite includes a walk-in closet, private balcony, dual-sink vanity, Roman soaking tub, and separate shower. Additional features include central A/C, heat pump(s), ceiling fans, a disposal, dishwasher, and front-loading washer and dryer. Built in 1989, the property offers tree-lined and lake views from two balconies. Village of Owen Brown residents have access to scenic trails, gazebos, and shared gathering areas near Lake Elkhorn Park, with shopping, dining, entertainment, and major commuter routes nearby.
Key Highlights
- 1,790 finished square feet with 3 bedrooms and 2 full bathrooms
- Two‑story condo with vaulted ceilings, open living space, and a loft
- Wood‑burning fireplace and balcony access from the main living area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,271
Cap Rate
6.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$465,420
$465.4K
Cap Rate 7%
$332,443
$332.4K
Cap Rate 9%
$258,567
$258.6K
Market Conditions
NOI Build-Up for 1,790 SF
Gross rent
$45.1K $25.20/SF
− Vacancy
−$2.8K −$1.56/SF
EGI
$42.3K $23.64/SF
− OpEx
−$19.0K −$10.64/SF
NOI
$23.3K $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 Rate 5%
$465,420
Cap Rate 7%
$332,443
Cap Rate 9%
$258,567
Alternative Uses
Best Use
Apartment 5plus
$332.4K
$290.9K – $387.9K
NOI $23,271 @ 7.0% cap · market cap 6.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$569.1K
$498.0K – $663.9K
NOI $39,836 @ 7.0% cap · market cap 10.62%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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
1,074
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Frequently Asked Questions
What type of property is this?
Residential income property - Two-story condo residence with open living areas, a loft, multiple balconies, and access to trails near Lake Elkhorn.
Where is this residential income property located?
The property is located at 9515 HICKORY LIMB #304 Columbia, MD.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 1,790 finished square feet with 3 bedrooms and 2 full bathrooms; Two‑story condo with vaulted ceilings, open living space, and a loft; Wood‑burning fireplace and balcony access from the main living area
