Two-Unit Duplex with Off-Street
For Sale
$280,000
71 BOND Street, Westminster, MD 21157
MULTI_FAMILY - Colonial - WESTMINSTER, MD
Property Size1,376 SF
Lot Size0.06 Acres
Price / SF$203.49
Days on Market159
Property Features for 71 BOND Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
On Street, Parking Lot
Elementary school district
CARROLL COUNTY PUBLIC SCHOOLS
Middle school district
CARROLL COUNTY PUBLIC SCHOOLS
High school district
CARROLL COUNTY PUBLIC SCHOOLS
Standard status
Active
Size
1,376 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
3813
Utilities
Heating system
Other (Heating)
Cooling system
Window Unit(s)
Building Details
Year built
1910
Number of units
1
Building materials
Brick
Architectural style
Colonial
Listing Agency:
Real Estate Innovations · Coldwell Banker Real Estate
(301) 662-8600
Listed By:
Erin Joyce · License #5009821
(240) 405-7635
Added: Mar 16
Changed: Jul 13
Last Checked: Aug 21 at 7:06PM
MLS# MDCR2032814
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 well-maintained duplex includes two separate residential units with individual entrances. Unit A is located on the main level and features one bedroom, one full bathroom, a living room, and a kitchen, with access to the basement for additional storage. Unit B is accessed from the rear of the property via a deck staircase and offers two bedrooms, one full bathroom, and a kitchen. Unit B also includes attic access that can support additional living or flexible use such as a home office or storage.
The property sits on a small lot and includes a rear parking lot that provides off-street parking for both units. The separate entrances are designed to support privacy and day-to-day convenience for occupants.
For an owner-occupant, the configuration supports living in one unit while using the other for rental income. For investors, the property’s duplex setup and parking layout offer an uncomplicated two-unit structure with multiple areas for storage and flexible space within the Unit A basement access and Unit B attic access. With Unit A currently occupied, the property presents the option to generate immediate rental income while Unit B can support future tenant placement.
The property sits on a small lot and includes a rear parking lot that provides off-street parking for both units. The separate entrances are designed to support privacy and day-to-day convenience for occupants.
For an owner-occupant, the configuration supports living in one unit while using the other for rental income. For investors, the property’s duplex setup and parking layout offer an uncomplicated two-unit structure with multiple areas for storage and flexible space within the Unit A basement access and Unit B attic access. With Unit A currently occupied, the property presents the option to generate immediate rental income while Unit B can support future tenant placement.
Key Highlights
- Strong income potential from well‑maintained duplex in a convenient location.
- Flexible living options for owner‑occupants or investors.
- Immediate rental income from currently occupied Unit A.
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
$17,882
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
6.39%
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%
$357,640
$357.6K
Cap Rate 7%
$255,457
$255.5K
Cap Rate 9%
$198,689
$198.7K
Market Conditions
NOI Build-Up for 1,376 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
$26.7K $19.44/SF
− Vacancy
−$1.2K −$0.87/SF
EGI
$25.5K $18.57/SF
− OpEx
−$7.7K −$5.57/SF
NOI
$17.9K $13.00/SF
Area
Carroll County, MD
Vacancy
4.50%
Lease Rate
$19.44 /SF/Yr
Expense Ratio
30.00%
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%
$357,640
Cap Rate 7%
$255,457
Cap Rate 9%
$198,689
Alternative Uses
Best Use
Multifamily LT 5
$255.5K
$223.5K – $298.0K
NOI $17,882 @ 7.0% cap · market cap 6.39%
Second Best
Apartment 5plus
$220.7K
$193.1K – $257.5K
NOI $15,448 @ 7.0% cap · market cap 5.52%
Theoretical Best
Office A
$510.3K
$446.5K – $595.3K
NOI $35,720 @ 7.0% cap · market cap 12.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,373
Businesses Nearby
Explore this area
Business Placement
Demographics for 21157, MD
38,584
Population
15,466
Households
2.5
Avg Household Size
42
Median Age
37%
College-Educated
93%
High-School Grad
77.7 sq mi
ZIP Area
497
Density / Sq Mi
$102,835
Median Household Income
$50,254
Median Earnings
$1,236
Median Rent
$394,100
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?
Duplex - Well-maintained duplex offers two separate units with off-street parking, suited for owner-occupants or investors.
Where is this duplex located?
The property is located at 71 BOND Street Westminster, MD.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Strong income potential from well‑maintained duplex in a convenient location.; Flexible living options for owner‑occupants or investors.; Immediate rental income from currently occupied Unit A.
