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Property profile & analytics
OFF-MARKET
Estimated value
$1,635,000
Investment properties
5497 Waterloo Rd Ellicott City, MD 21043-6902
Entity Owned
Free & Clear
Property ID
US40-1227194
Property summary
AI-generated overview
This exceptional 2.04-acre land parcel in Ellicott City, Howard County, Maryland, presents a unique investment opportunity. Located at 5497 Waterloo Rd, zip code 21043, this fee-simple property is zoned POR and offers significant potential for age-restricted adult housing. With an approved Environmental Compliance Plan (ECP) and a submitted Site Development Plan (SDP) anticipating full entitlements for 95 units by Q2 2025, this site is poised for immediate development. The property's designation as a Difficult Development Area (DDA) by HUD further underscores its potential. Howard County's high housing demand, particularly for age-restricted housing, creates a strong market for this project. The site is well-suited for various development options, including market-rate or affordable active adult rental communities, a market-rate assisted living facility, or a for-sale senior living condominium community. Offers are due December 9, 2024. This prime location within Howard County, consistently ranked among the wealthiest counties nationally, ensures strong market rents and a limited supply of comparable properties in the pipeline.
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1954
Total area
2,044 SF
Lot
2.09 ac (91,040 SF)
Zoning code
POR
APN
01-170260
UPID
US40-1227194
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
$1.74M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.64M
Owner & transaction history
Howard County Housing Commission
Howard County Housing Commission
since 2025
Last sale
$1.5M
3 recorded transactions
Zoning & alternative use
POR · Ellicott City, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Ellicott City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ellicott City 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
$1,805,000
ML approach
$1,740,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.64M
Range $1.47M – $1.80M · ±10% · vs last sale $1.50M (Nov 26 2025)
Last sale anchor
$1.50M
Nov 26 2025
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
$800 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$7,394
Tax year 2022
Assessed value
$656,700
Assessed 2023
Previous assessed
$656,700
+0.0% YoY
Effective rate
1.13%
On assessed value
Assessed land
$631,700
Assessed improvement
$25,000
Land market value
$631,700
Improvement market value
$25,000
Total market value
$656,700
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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
Off-Market
Year built
1954
Heating
FORCED AIR
Cooling
YES
Stories
2
Bathrooms
2
Total area
2,044 SF
Lot
2.09 ac (91,040 SF)
Zoning code
POR
APN
01-170260
UPID
US40-1227194
Jurisdiction
HOWARD
Zoning & alternative use
POR · Ellicott City, MD
Zoning POR · permitted uses
POR · Ellicott City, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ellicott City. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1954
Heating
FORCED AIR
Cooling
Yes
Stories
2
Bathrooms
2
Lot
2.09 ac
Current owner
From public records · entity-resolved
Howard County Housing Commission
Entity
Free & Clear · 0 yrs held
Mailing address
825 BAY RDG AVE, ANNAPOLIS, MD 21403-2571
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 26, 2025
$1,500,000
Howard County Housing Commission
Kirby Development LLC
Deed
—
May 5, 2022
$2,300,000
Kirby Development LLC
Douglas R Iorio
Deed
$1,495,000 · Eagle Bank
Jun 26, 2019
—
Bypass,linda H I Trust
Iorio Linda H
Grant Deed
related
—
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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