Three-Unit Triplex Near
New
For Sale
$300,000
102 WOOD St, Frostburg, MD 21532
Historic rental property near Main Street with potential for single-family conversion.
Property Size4,344 SF
Days on Market3
Property Features for 102 WOOD St
General Information
Standard status
Active
Size
4,344 SF
Property subtype
Investment
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,636
Building Details
Building Size
4,344 SF
Year Built
1899
Units
3
Listing Agency:
Carter & Roque Real Estate
(301) 876-0790
Listed By:
Diana Iman · License #602415
(301) 876-0790
Source:
Elliman
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 21 at 10:37AM
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 Carter & Roque Real Estate
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 = 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
$27,237
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
9.08%
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%
$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
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
$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 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%
$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
Property Profile
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
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 - Historic rental property near Main Street with potential for single-family conversion.
Where is this triplex located?
The property is located at 102 WOOD St 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
