Duplex with Private-Entry
For Sale
$475,000
132 DUNROVIN Avenue, Westminster, MD 21158
Multi-Family, WESTMINSTER, MD
Property Size3,106 SF
Lot Size0.40 Acres
Price / SF$152.93
Days on Market26
Property Features for 132 DUNROVIN Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement, Dining Room
Parking features
Driveway
Interior features
Attic, Bathroom - Stall Shower, Bathroom - Tub Shower, Bathroom - Walk-In Shower, Built-Ins, Carpet, Ceiling Fan(s), Combination Dining/Living, Combination Kitchen/Living, Dining Area, Entry Level Bedroom, Pantry, Primary Bath(s), Recessed Lighting, Wood Floors
Subdivision
NONE AVAILABLE
Elementary school district
CARROLL COUNTY PUBLIC SCHOOLS
Middle school district
CARROLL COUNTY PUBLIC SCHOOLS
High school district
CARROLL COUNTY PUBLIC SCHOOLS
Standard status
Active
Size
3,106 SF
Lot size
0.40 Acres
Taxes and HOA fees
Tax Annual Amount
3762
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Window Unit(s), Ceiling Fan(s), Central Air
Amenities
mature landscaping
flower gardens
koi pond
covered deck
brick patio
laundry
Building Details
Year built
1989
Number of units
2
Building materials
Brick, Vinyl Siding
Architectural style
Other
Listing Agency:
Keller Williams Legacy · Keller Williams Realty
(443) 660-9229
Listed By:
Kelly R Rumbaugh · License #5007047
(410) 596-8250
Added: Aug 31
Changed: Sep 24
Last Checked: Sep 25 at 1:06AM
MLS# MDCR2037560
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 3,106-square-foot duplex includes five bedrooms, four full bathrooms, and one half bath. An attached one-bedroom apartment has its own entrance, laundry, and separate parking area. The main residence also features two primary suites, including one positioned on its own level. The 0.3989-acre parcel is fenced and includes landscaped garden areas, a koi pond, a covered deck, and a brick patio.
The property is near McDaniel College and has access to Route 140. Built in 1989, the home has brick and vinyl siding, a heat pump, central air, and window-unit cooling.
The property is near McDaniel College and has access to Route 140. Built in 1989, the home has brick and vinyl siding, a heat pump, central air, and window-unit cooling.
Key Highlights
- Attached one‑bedroom apartment with a private entrance
- Separate parking area and laundry for the apartment
- 3,106 square feet with 5 bedrooms, 4 full baths, and 1 half bath
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
$40,364
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
8.50%
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%
$807,280
$807.3K
Cap Rate 7%
$576,629
$576.6K
Cap Rate 9%
$448,489
$448.5K
Market Conditions
NOI Build-Up for 3,106 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
$60.4K $19.44/SF
− Vacancy
−$2.7K −$0.87/SF
EGI
$57.7K $18.57/SF
− OpEx
−$17.3K −$5.57/SF
NOI
$40.4K $13.00/SF
Area
Carroll County, MD
Vacancy
4.50%
Lease Rate
$19.44 /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%
$807,280
Cap Rate 7%
$576,629
Cap Rate 9%
$448,489
Alternative Uses
Best Use
Multifamily LT 5
$576.6K
$504.6K – $672.7K
NOI $40,364 @ 7.0% cap · market cap 8.50%
Second Best
Apartment 5plus
$498.1K
$435.9K – $581.2K
NOI $34,870 @ 7.0% cap · market cap 7.34%
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,631 @ 7.0% cap · market cap 16.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
324
Businesses Nearby
Explore this area
Business Placement
Demographics for 21158, MD
20,917
Population
8,818
Households
2.4
Avg Household Size
42
Median Age
36%
College-Educated
95%
High-School Grad
73.3 sq mi
ZIP Area
285
Density / Sq Mi
$108,795
Median Household Income
$59,118
Median Earnings
$1,735
Median Rent
$375,100
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?
Duplex - A separate entrance, laundry area, and parking serve the attached one-bedroom living space.
Where is this duplex located?
The property is located at 132 DUNROVIN Avenue Westminster, MD.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Attached one‑bedroom apartment with a private entrance; Separate parking area and laundry for the apartment; 3,106 square feet with 5 bedrooms, 4 full baths, and 1 half bath
