Two-Unit Residential
For Sale
$399,000
Pending
2324 Orsburn Lane, Joppa, MD 21085
Duplex with two driveways and a large multi-door garage designed to store multiple vehicles.
Property Size1,951 SF
Days on Market60
Property Features for 2324 Orsburn Lane
General Information
Standard status
Pending
Size
1,951 SF
Property subtype
Multi-Family / Fee Simple
Additional Details
Multifamily Units
2
Building Details
Year Built
1936
Listing Agency:
Berkshire Hathaway HomeServices Homesale Realty
(443) 917-6600
Listed By:
GILBERT PERRONE · License #676710
(443) 917-6600
Source:
Compass
Added: Jun 3
Changed: Jul 22
Last Checked: Jul 31 at 1:03PM
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 Berkshire Hathaway HomeServices Homesale Realty
Investment Insights
Based on property information with market context.
This well-presented duplex includes two separate units. Unit one offers a kitchen, living room, bedroom, and bath. Unit two is arranged over two levels with two bedrooms on the upper level (including one loft), plus a kitchen and bath on the lower level.
The property features two driveways and a large garage with three doors. The garage has a very high ceiling and is described as able to hold up to five cars.
Located in Harford County, outside city limits, the property is noted for use within the Fallston school area under Harford County Public Schools.
The property features two driveways and a large garage with three doors. The garage has a very high ceiling and is described as able to hold up to five cars.
Located in Harford County, outside city limits, the property is noted for use within the Fallston school area under Harford County Public Schools.
Key Highlights
- Duplex built in 1936 in Harford County, serving Fallston area schools and Harford County Public Schools.
- Multi‑vehicle garage: 950 SF garage with 3 doors and very high ceiling; described as holding up to 5 cars.
- Two driveways plus enclosed outdoor living with patio(s) and porch(es).
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $43.3k | $22.20 |
| − Vacancy | −$3.2k | −$1.67 |
| EGI | $40.1k | $20.54 |
| − OpEx | −$12.0k | −$6.16 |
| NOI | $28.0k | $14.37 |
1,951 SF · lease $22.20/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$400.6K
$350.6K – $467.4K
NOI $28,045 @ 7.0% cap · market cap 7.03%
Second Best
Apartment 5plus
$373.2K
$326.6K – $435.4K
NOI $26,126 @ 7.0% cap · market cap 6.55%
Theoretical Best
Office A
$686.5K
$600.7K – $800.9K
NOI $48,053 @ 7.0% cap · market cap 12.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
101
Businesses Nearby
Explore this area
Business Placement
Demographics for 21085, MD
17,142
Population
7,073
Households
2.4
Avg Household Size
43
Median Age
31%
College-Educated
93%
High-School Grad
19.0 sq mi
ZIP Area
902
Density / Sq Mi
$107,975
Median Household Income
$63,132
Median Earnings
$1,593
Median Rent
$327,300
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 - Duplex with two driveways and a large multi-door garage designed to store multiple vehicles.
Where is this duplex located?
The property is located at 2324 Orsburn Lane Joppa, MD.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Duplex built in 1936 in Harford County, serving Fallston area schools and Harford County Public Schools.; Multi‑vehicle garage: 950 SF garage with 3 doors and very high ceiling; described as holding up to 5 cars.; Two driveways plus enclosed outdoor living with patio(s) and porch(es).
