Duplex with New Metal
For Sale
$149,900
16 Grand Avenue, Cumberland, MD 21502
Two-unit residential property with established tenancy and tenant-paid utilities.
Property Size1,872 SF
Price / SF$80.07
Days on Market845
Property Features for 16 Grand Avenue
General Information
Standard status
Active
Size
1,872 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RESID
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,495
Amenities
No
Stove
Double Pane
Wood Floors, Other
No Pool
Building Details
Year Built
1910
Buildings
1
Listing Agency:
Century 21 Potomac West
Listed By:
Dennis L Murray · License #503831
(240) 580-0379
Source:
Compass
Added: Jun 24, 2024
Changed: Oct 12
Last Checked: Oct 15 at 1:59AM
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 Century 21 Potomac West
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Investment Insights
Based on property information with market context.
This duplex in Cumberland includes 1,872 square feet across its two residential units. A newly installed metal roof is among the recent property improvements, while interior features include wood flooring, double-pane windows, and stoves. The property was built in 1910 and is designated RESID.
Both sides have long-term tenants, providing an established occupancy profile. Residents are responsible for their own utilities. The property is within Cumberland city limits and falls within Allegany County Public Schools.
Both sides have long-term tenants, providing an established occupancy profile. Residents are responsible for their own utilities. The property is within Cumberland city limits and falls within Allegany County Public Schools.
Key Highlights
- 1,872‑square‑foot duplex in Cumberland
- New metal roof recently installed
- Long‑term tenants occupy both sides
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,671
Cap Rate
8.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$253,420
$253.4K
Cap Rate 7%
$181,014
$181.0K
Cap Rate 9%
$140,789
$140.8K
Market Conditions
NOI Build-Up for 1,872 SF
Gross rent
$19.1K $10.20/SF
− Vacancy
−$993 −$0.53/SF
EGI
$18.1K $9.67/SF
− OpEx
−$5.4K −$2.90/SF
NOI
$12.7K $6.77/SF
Area
Allegany County, MD
Vacancy
5.20%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$253,420
Cap Rate 7%
$181,014
Cap Rate 9%
$140,789
Alternative Uses
Best Use
Multifamily LT 5
$181.0K
$158.4K – $211.2K
NOI $12,671 @ 7.0% cap · market cap 8.45%
Second Best
Apartment 5plus
$167.7K
$146.7K – $195.6K
NOI $11,737 @ 7.0% cap · market cap 7.83%
Theoretical Best
Office A
$694.2K
$607.5K – $809.9K
NOI $48,596 @ 7.0% cap · market cap 32.42%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
543
Businesses Nearby
Explore this area
Business Placement
Demographics for 21502, MD
41,153
Population
19,562
Households
2.1
Avg Household Size
44
Median Age
20%
College-Educated
89%
High-School Grad
92.1 sq mi
ZIP Area
447
Density / Sq Mi
$58,721
Median Household Income
$39,507
Median Earnings
$771
Median Rent
$151,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with established tenancy and tenant-paid utilities.
Where is this duplex located?
The property is located at 16 Grand Avenue Cumberland, MD.
What is the asking price?
The asking price for this property is $149,900.
What are key features of this property?
This property features: 1,872‑square‑foot duplex in Cumberland; New metal roof recently installed; Long‑term tenants occupy both sides
