Essex, MD is a waterside community in Baltimore County. Learn more about Essex, MD real estate. 

Essex, MD 21221 - Real Estate Market Overview - OfferMarket

Essex, MD

An appraiser is a licensed real estate professional who has completed at least 150 hours of courses and accumulated 1,000 hours of experience. No college degree is required.


 

## Related terms
- [Certified General Appraiser](https://www.offermarket.us/real-estate-glossary/certified-general-appraiser)
- [Certified Residential Appraiser](https://www.offermarket.us/real-estate-glossary/certified-residential-appraiser)
- [Trainee Appraiser](https://www.offermarket.us/real-estate-glossary/trainee-appraiser)

A Licensed Residential Appraiser is a licensed real estate professional who has completed at least 150 hours of courses and accumulated 1,000 hours of experience. No college degree is required.

Licensed Residential Appraiser - Real Estate Glossary - OfferMarket

What is a Licensed Residential Appraiser?

### What is Single Room Occupancy?

Single Room Occupancy or SRO is the renting of a house room by room. This is similar to a boarding house where there are very few communal common areas. Typically a fixed price for one person per room, and a slightly higher rate for two people in one room.

 

Single Room Occupancy can be a great rental property investment strategy given the ability to maximize a dwelling's rent revenue. For example, a 2,500 SF 4 BR single family residence that rents for $2,000/month can be converted into an 8 BR SRO that generates $500 per BR or $4,000 per month in rental income. 

 

While in the example above we were able to double the monthly rental income, it's important to make sure you don't double your property management headaches. Rental property investors who are successful with SRO rentals have a disciplined system for screening tenants and often partner with Section 8, social security and veterans programs.

Single Room Occupancy or SRO is the renting of a house room by room. Learn more about single room occupancy at OfferMarket.

Single Room Occupancy ("SRO") - Real Estate Glossary - OfferMarket

What is Single Room Occupancy ("SRO") in real estate?

Grow your real estate investing business with the most competitive DSCR loan product. OfferMarket also provides DSCR rental loans, bridge loans, hard money, fix & flip, rehab, ground up construction loans.

Rental Loans

Revenue - Operating Expenses

 

Net Operating Income is used to calculate capitalization rate ("cap rate"), a fundamental quantitative valuation metric for real estate investing.

 

Depending on the type of real estate, revenue can include: 

 

- Rental revenue
- Service fees
- Parking revenue
- Vending machine revenue

 

Operating expenses include:

 

- property management
- vacancy
- uncollectible rent revenue
- insurance
- property taxes
- maintenance

Net Operating Income ("NOI") = Revenue - Operating Expenses. Learn how to calculate NOI.

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What is Net Operating Income ("NOI") in real estate?

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