5497 Waterloo RdEllicott City, MD 21043

Property Details for 5497 Waterloo Rd

Year built

1954

Lot size

2.09 AC

Property size (Sq ft)

2,044 SF

Zone code

POR

Property type

Investment properties

Property subtype

Live-work space

APN

01-170260

APU

1170260

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $387,387

  6.5%

  $357,588

  7%

  $332,046

• Comparable approach

  Method

  Valuation

  Relative Method

  $130,148

  Geo Method

  $128,588

• Alternative Use

  Use

  Valuation

  Residential

  $443,409

  Hospitality

  $406,161

  Educational

  $337,921

  Medical

  $349,543

  Retail

  $525,655

Location Insight

City

Ellicott City

County

Howard

State

Maryland

Latitude

39.2213

Longitude

-76.8068

CBSA code

12580

CBSA name

BALTIMORE-TOWSON, MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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