Renovated Duplex with Large
For Sale
$576,000
104 FRANKLIN AVE, Berlin, MD 21811
Two three-bedroom apartments offer separate storage and ample off-street parking in a walkable Berlin setting.
Property Size1,936 SF
Lot Size0.35 Acres
Price / SF$297.52
Days on Market48
Property Features for 104 FRANKLIN AVE
General Information
Standard status
Active
Size
1,936 SF
Lot size
0.35 Acres
Property subtype
Multi-family
Occupancy
100%
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Amenities
storage
Listing Agency:
Hileman Real Estate-Berlin
Listed By:
Debora H Hileman
(410) 208-9200
Source:
Davidyungmann.myrealestateplatform
Added: Sep 5
Changed: Oct 10
Last Checked: Oct 20 at 8:30PM
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 Hileman Real Estate-Berlin
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Investment Insights
Based on property information with market context.
This duplex contains two apartments, with one residence on each level. Each unit offers three bedrooms and one bathroom, and both apartments were renovated within the past 10 years. The property includes 1,936 square feet of building area on a 0.35-acre lot, with separate storage sections for each unit in the barn or shed.
The site provides driveway parking for over eight vehicles, with additional street parking available. Located at 104 Franklin Ave in Berlin, the property is within walking distance of local events, shops, and restaurants. Both apartments are fully leased through February and March 2027.
The site provides driveway parking for over eight vehicles, with additional street parking available. Located at 104 Franklin Ave in Berlin, the property is within walking distance of local events, shops, and restaurants. Both apartments are fully leased through February and March 2027.
Key Highlights
- Two‑level duplex with two three‑bedroom, one‑bath apartments
- 1,936 square feet on a 0.35‑acre lot
- Both apartments renovated within the past 10 years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,308
Cap Rate
3.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$406,160
$406.2K
Cap Rate 7%
$290,114
$290.1K
Cap Rate 9%
$225,644
$225.6K
Market Conditions
NOI Build-Up for 1,936 SF
Gross rent
$31.4K $16.20/SF
− Vacancy
−$2.4K −$1.22/SF
EGI
$29.0K $14.99/SF
− OpEx
−$8.7K −$4.50/SF
NOI
$20.3K $10.49/SF
Area
Worcester County, MD
Vacancy
7.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$406,160
Cap Rate 7%
$290,114
Cap Rate 9%
$225,644
Alternative Uses
Best Use
Multifamily LT 5
$290.1K
$253.9K – $338.5K
NOI $20,308 @ 7.0% cap · market cap 3.53%
Second Best
Apartment 5plus
$260.3K
$227.8K – $303.7K
NOI $18,220 @ 7.0% cap · market cap 3.16%
Theoretical Best
Office A
$465.2K
$407.1K – $542.8K
NOI $32,567 @ 7.0% cap · market cap 5.65%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
872
Businesses Nearby
Explore this area
Business Placement
Demographics for 21811, MD
23,907
Population
15,439
Households
1.5
Avg Household Size
52
Median Age
36%
College-Educated
94%
High-School Grad
101.5 sq mi
ZIP Area
236
Density / Sq Mi
$91,293
Median Household Income
$49,929
Median Earnings
$1,398
Median Rent
$362,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom apartments offer separate storage and ample off-street parking in a walkable Berlin setting.
Where is this duplex located?
The property is located at 104 FRANKLIN AVE Berlin, MD.
What is the asking price?
The asking price for this property is $576,000.
What are key features of this property?
This property features: Two‑level duplex with two three‑bedroom, one‑bath apartments; 1,936 square feet on a 0.35‑acre lot; Both apartments renovated within the past 10 years
