Victorian Triplex With Detached
New
For Sale
$300,000
102 WOOD Street, Frostburg, MD 21532
Multi-Family, FROSTBURG, MD
Property Size4,344 SF
Lot Size0.25 Acres
Price / SF$69.06
Days on Market7
Property Features for 102 WOOD Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Rooms
Basement
Parking
4
Parking features
Garage - Detached, Driveway
Fireplace
1
Elementary school
BEALL
Middle school
MOUNT SAVAGE
High school
MOUNTAIN RIDGE
Elementary school district
ALLEGANY COUNTY PUBLIC SCHOOLS
Middle school district
ALLEGANY COUNTY PUBLIC SCHOOLS
High school district
ALLEGANY COUNTY PUBLIC SCHOOLS
Standard status
Active
Size
4,344 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Annual Amount
3636
Utilities
Heating system
Other (Heating)
Building Details
Year built
1899
Number of units
3
Building materials
Brick, Frame
Architectural style
Victorian
Listing Agency:
Better Homes & Gardens Real Estate Old Line Group
(301) 689-0100
Listed By:
Donald L Carter Jr. · License #602415
(301) 268-3010
Added: Aug 18
Changed: Aug 19
Last Checked: Aug 24 at 12:06PM
MLS# MDAL2015638
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This three-unit residential property contains 4,344 square feet on a 0.2497-acre lot. Built in 1899, the building features Victorian architecture with brick and frame construction. The improvements include a basement, fireplace, detached garage, and driveway parking. Heating is identified as other, and the existing configuration is described as a rental property.
Located in Frostburg, the property is close to FSU and Main Street. The listing also identifies the possibility of converting the current layout back to a single-family home, providing an alternative configuration for future use.
Located in Frostburg, the property is close to FSU and Main Street. The listing also identifies the possibility of converting the current layout back to a single-family home, providing an alternative configuration for future use.
Key Highlights
- Three‑unit rental property with 4,344 square feet of building area
- Situated on 0.2497 acres in Frostburg
- 1899 construction with Victorian architectural style
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$27,237
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.08%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$544,740
$544.7K
Cap Rate 7%
$389,100
$389.1K
Cap Rate 9%
$302,633
$302.6K
Market Conditions
NOI Build-Up for 4,344 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$52.1K $12.00/SF
− Vacancy
−$2.6K −$0.60/SF
EGI
$49.5K $11.40/SF
− OpEx
−$22.3K −$5.13/SF
NOI
$27.2K $6.27/SF
Area
Allegany County, MD
Vacancy
5.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$544,740
Cap Rate 7%
$389,100
Cap Rate 9%
$302,633
Alternative Uses
Best Use
Multifamily LT 5
$420.0K
$367.5K – $490.1K
NOI $29,403 @ 7.0% cap · market cap 9.80%
Second Best
Apartment 5plus
$389.1K
$340.5K – $454.0K
NOI $27,237 @ 7.0% cap · market cap 9.08%
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,769 @ 7.0% cap · market cap 37.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
531
Businesses Nearby
Explore this area
Business Placement
Demographics for 21532, MD
13,328
Population
6,044
Households
2.2
Avg Household Size
39
Median Age
33%
College-Educated
93%
High-School Grad
74.1 sq mi
ZIP Area
180
Density / Sq Mi
$60,158
Median Household Income
$33,054
Median Earnings
$839
Median Rent
$175,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit rental asset near FSU and Main Street, with driveway parking and a separate garage.
Where is this triplex located?
The property is located at 102 WOOD Street Frostburg, MD.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Three‑unit rental property with 4,344 square feet of building area; Situated on 0.2497 acres in Frostburg; 1899 construction with Victorian architectural style
