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Property profile & analytics
FOR SALE
Investment properties
120 Water St New Windsor, MD 21776
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US40-0347785
For Sale
1 / 67
$725,000
120 Water St, New Windsor, MD 21776
View Listing →
Property summary
AI-generated overview
This exceptional 5,242 sq ft, three-story Colonial mansion, known as the Atlee House, sits on a 0.88-acre lot in historic New Windsor, Maryland. Originally built circa 1800, this property boasts six bedrooms, five full bathrooms, and three half bathrooms, including a private owner's suite. Previously operating as a bed and breakfast and cafe, the property offers significant potential for various uses, including religious or educational institutions, given its permitted commercial zoning. The two buildings are vacant and ready for redevelopment. Conveniently located near Town Parks & Recreation facilities, with easy access to MD Route 75 and MD Route 31, and less than 10 miles from Westminster. An existing Use and Occupancy Certificate for a bed and breakfast may be transferable. The asking price is $850,000. This rare opportunity presents a chance to own a piece of New Windsor history.
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1900
Total area
5,242 SF
Lot
0.88 ac (38,332 SF)
Zoning code
VILLA
APN
11-002803
UPID
US40-0347785
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$471k
Blend (final)
Blend
$510k
Owner & transaction history
Church At Severn Run · 6 yrs held
Church At Severn Run
since 2019
5 recorded transactions
Zoning & alternative use
VILLA · New Windsor, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$845,000
+36.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs New Windsor submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New Windsor submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$620,000
Current use
INDUSTRIAL (GENERAL)
$845,000
Change: +37% · Conversion: Moderate
WAREHOUSE, STORAGE
$615,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$510k
Range $459k – $561k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$97 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$5,622
Tax year 2023
Assessed value
$404,000
Assessed 2023
Previous assessed
$404,000
+0.0% YoY
Effective rate
1.39%
On assessed value
Assessed land
$133,300
Assessed improvement
$270,700
Land market value
$133,300
Improvement market value
$270,700
Total market value
$404,000
Applied tax rate
111.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
For Sale
Year built
1900
Heating
HEAT PUMP
Stories
2
Units
1
Bathrooms
4
Total area
5,242 SF
Lot
0.88 ac (38,332 SF)
Zoning code
VILLA
APN
11-002803
UPID
US40-0347785
Jurisdiction
CARROLL
Zoning & alternative use
VILLA · New Windsor, MDZoning VILLA · permitted uses
VILLA · New Windsor, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$620,000
INDUSTRIAL (GENERAL)
Est. value
$845,000
WAREHOUSE, STORAGE
Est. value
$615,000
COMMERCIAL (GENERAL) Current
INDUSTRIAL (GENERAL)
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1900
Heating
HEAT PUMP
Stories
2
Units
1
Bathrooms
4
Lot
0.88 ac
Current owner
From public records · entity-resolved
Church At Severn Run
Entity
Mailing address
8187 TELEGRAPH RD, SEVERN, MD 21144-3205
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 27, 2019
$395,000
Church At Severn Run
Pierce,doris P
Grant Deed
$296,000 · Branch Bk&tr
Dec 30, 2002
$265,000
Samuel M Pierce
Wiley,james M & Terry S
Grant Deed
—
Oct 6, 2000
$155,000
James M Wiley
John T Connell Estate
Grant Deed
$141,600 · New Windsor State Bank
—
—
James M Wiley
—
Deed Of Trust
related
$147,500 · Key Bank & Trust
—
—
James M Wiley
—
Deed Of Trust
related
$20,000 · Washington Telephone FCU
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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