Waterfront Three-Unit
New
For Sale
$649,900
1276 PEKIN Road, Pasadena, MD 21122
MULTI_FAMILY - Cape Cod - PASADENA, MD
Property Size1,680 SF
Lot Size0.19 Acres
Price / SF$386.85
Days on Market2
Property Features for 1276 PEKIN Road
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Rooms
Basement
Parking features
Driveway
Appliances
Refrigerator, Stove, Dishwasher
Elementary school district
ANNE ARUNDEL COUNTY PUBLIC SCHOOLS
Middle school district
ANNE ARUNDEL COUNTY PUBLIC SCHOOLS
High school district
ANNE ARUNDEL COUNTY PUBLIC SCHOOLS
Standard status
Active
Size
1,680 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Annual Amount
5799
Utilities
Cooling system
Window Unit(s)
Water front features
Waterfront, Navigable Water
Water front
1
Building Details
Year built
1952
Number of units
1
Building materials
Vinyl Siding
Architectural style
Cape Cod
Listing Agency:
Douglas Realty LLC
(410) 255-3690
Listed By:
Sharon G Burkhardt · License #628280
(410) 375-3177
Added: Aug 10
Last Checked: Aug 11 at 5:06PM
MLS# MDAA2153852
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 1,680-square-foot Cape Cod property is configured as three separate residential units. The side unit includes a living room, kitchen, laundry area, two bedrooms, and one bathroom. The upstairs and front units each provide a living room, kitchen, bedroom, and bathroom. The home was built in 1952 and features vinyl siding, window-unit cooling, a basement, and a driveway.
The property occupies 0.1913 acres along waterfront with navigable water. Existing appliances include refrigerators, stoves, and a dishwasher. The current layout provides distinct unit spaces within a single residential structure, with the side unit offering the largest bedroom configuration.
The property occupies 0.1913 acres along waterfront with navigable water. Existing appliances include refrigerators, stoves, and a dishwasher. The current layout provides distinct unit spaces within a single residential structure, with the side unit offering the largest bedroom configuration.
Key Highlights
- Waterfront property with navigable water
- Three separate residential units within a 1,680‑square‑foot property
- Side unit includes 2 bedrooms, living room, kitchen, laundry, and bathroom
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
$24,410
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
3.76%
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%
$488,200
$488.2K
Cap Rate 7%
$348,714
$348.7K
Cap Rate 9%
$271,222
$271.2K
Market Conditions
NOI Build-Up for 1,680 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
$37.3K $22.20/SF
− Vacancy
−$2.4K −$1.44/SF
EGI
$34.9K $20.76/SF
− OpEx
−$10.5K −$6.23/SF
NOI
$24.4K $14.53/SF
Area
Anne Arundel County, MD
Vacancy
6.50%
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%
$488,200
Cap Rate 7%
$348,714
Cap Rate 9%
$271,222
Alternative Uses
Best Use
Multifamily LT 5
$348.7K
$305.1K – $406.8K
NOI $24,410 @ 7.0% cap · market cap 3.76%
Second Best
Apartment 5plus
$323.9K
$283.4K – $377.9K
NOI $22,673 @ 7.0% cap · market cap 3.49%
Theoretical Best
Office A
$491.4K
$430.0K – $573.4K
NOI $34,401 @ 7.0% cap · market cap 5.29%
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
183
Businesses Nearby
Explore this area
Business Placement
Demographics for 21122, MD
62,368
Population
23,624
Households
2.6
Avg Household Size
40
Median Age
32%
College-Educated
93%
High-School Grad
31.4 sq mi
ZIP Area
1,986
Density / Sq Mi
$121,732
Median Household Income
$63,687
Median Earnings
$2,077
Median Rent
$412,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three separate units offer distinct living areas, kitchens, bedrooms, and bathrooms, with laundry included in the side unit.
Where is this triplex located?
The property is located at 1276 PEKIN Road Pasadena, MD.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Waterfront property with navigable water; Three separate residential units within a 1,680‑square‑foot property; Side unit includes 2 bedrooms, living room, kitchen, laundry, and bathroom
