Duplex with Separate Electric
For Sale
Under Contract
$339,000
7322 WINDSOR MILL Road, Windsor Mill, MD 21244
Multi-Family, WINDSOR MILL, MD
Property Size1,464 SF
Lot Size0.32 Acres
Price / SF$231.56
Days on Market69
Property Features for 7322 WINDSOR MILL Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking features
Driveway
Subdivision
WINDSOR MILL
Elementary school district
BALTIMORE COUNTY PUBLIC SCHOOLS
Middle school district
BALTIMORE COUNTY PUBLIC SCHOOLS
High school district
BALTIMORE COUNTY PUBLIC SCHOOLS
Standard status
Active Under Contract
Size
1,464 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Annual Amount
2437
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
shared laundry room
partitioned storage areas
Building Details
Year built
1929
Number of units
2
Building materials
Mixed
Architectural style
Craftsman
Listing Agency:
Compass
(410) 220-5745
Listed By:
Nicholas W Bogardus · License #662465
(410) 914-7355
Added: Jul 9
Changed: Aug 31
Last Checked: Sep 15 at 5:06PM
MLS# MDBC2169236
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 1929 Craftsman duplex contains two separately configured apartments within 1,464 square feet. The first-floor unit includes two bedrooms and 1.5 baths, while the upstairs apartment provides one bedroom and one bath. Each unit has its own electric meter, supporting distinct utility service arrangements. The property is certified lead-free and includes forced-air heating, central air conditioning, and a driveway.
A waterproofed basement adds functional support space with a shared laundry area and individually partitioned storage for the two units. The property occupies 0.3231 acres at 7322 Windsor Mill Road in Windsor Mill, Maryland, within Baltimore County. Its layout accommodates separate household use while retaining shared basement amenities.
A waterproofed basement adds functional support space with a shared laundry area and individually partitioned storage for the two units. The property occupies 0.3231 acres at 7322 Windsor Mill Road in Windsor Mill, Maryland, within Baltimore County. Its layout accommodates separate household use while retaining shared basement amenities.
Key Highlights
- Two‑unit duplex with 1,464 square feet of building area
- Main‑level unit has 2 bedrooms and 1.5 baths
- Upper‑level apartment includes 1 bedroom and 1 bath
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
$21,499
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
6.34%
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%
$429,980
$430.0K
Cap Rate 7%
$307,129
$307.1K
Cap Rate 9%
$238,878
$238.9K
Market Conditions
NOI Build-Up for 1,464 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
$32.5K $22.20/SF
− Vacancy
−$1.8K −$1.22/SF
EGI
$30.7K $20.98/SF
− OpEx
−$9.2K −$6.29/SF
NOI
$21.5K $14.69/SF
Area
Baltimore, MD
Vacancy
5.50%
Lease Rate
$22.20 /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%
$429,980
Cap Rate 7%
$307,129
Cap Rate 9%
$238,878
Alternative Uses
Best Use
Multifamily LT 5
$307.1K
$268.7K – $358.3K
NOI $21,499 @ 7.0% cap · market cap 6.34%
Second Best
Apartment 5plus
$272.5K
$238.4K – $317.9K
NOI $19,074 @ 7.0% cap · market cap 5.63%
Theoretical Best
Office A
$350.7K
$306.9K – $409.2K
NOI $24,551 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
497
Businesses Nearby
Explore this area
Business Placement
Demographics for 21244, MD
38,015
Population
15,006
Households
2.5
Avg Household Size
36
Median Age
35%
College-Educated
90%
High-School Grad
14.1 sq mi
ZIP Area
2,696
Density / Sq Mi
$84,849
Median Household Income
$45,367
Median Earnings
$1,538
Median Rent
$271,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two independent units support flexible occupancy and rental use.
Where is this duplex located?
The property is located at 7322 WINDSOR MILL Road Windsor Mill, MD.
What is the asking price?
The asking price for this property is $339,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,464 square feet of building area; Main‑level unit has 2 bedrooms and 1.5 baths; Upper‑level apartment includes 1 bedroom and 1 bath
