Three-Unit Triplex Near
For Sale
$300,000
102 WOOD STREET, Frostburg, MD 21532
Historic rental property near Main Street with potential for single-family conversion.
Property Size4,344 SF
Price / SF$69.06
Days on Market50
Property Features for 102 WOOD STREET
General Information
Standard status
Active
Size
4,344 SF
Property subtype
Triplex
Additional Details
Multifamily Units
3
Building Details
Year Built
1899
Listing Agency:
Better Homes & Gardens Real Estate Old Line Group
(301) 689-0100
Listed By:
Donald L Carter Jr. · License #602415
(301) 268-3010
Source:
Cummingsrealtors
Added: Aug 18
Changed: Oct 4
Last Checked: Oct 5 at 6:07PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Better Homes & Gardens Real Estate Old Line Group
Investment Insights
Based on property information with market context.
This three-unit rental property, built in 1899, offers a multifamily configuration in Frostburg. The building could be converted back to a single-family residence, providing flexibility for an owner seeking an alternative to its current layout.
The property is close to Frostburg State University and Main Street. Walk Score is 77, classified as Very Walkable, while Bike Score is 30, classified as Somewhat Bikeable.
The property is close to Frostburg State University and Main Street. Walk Score is 77, classified as Very Walkable, while Bike Score is 30, classified as Somewhat Bikeable.
Key Highlights
- Three‑unit rental property
- Built in 1899
- Close to Frostburg State University
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,237
Cap Rate
9.08%
Suggested Prices Based on Cap Rates
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
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 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
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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
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?
Triplex - Historic rental property near Main Street with potential for single-family conversion.
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; Built in 1899; Close to Frostburg State University
