Multi-Level Triplex
For Sale
$315,000
Pending
3417 Kelox Road, Gwynn Oak, MD 21207
Finished lower-level space, outdoor areas, and a fenced backyard add functional appeal to this established residential income property.
Property Size1,990 SF
Days on Market1083
Property Features for 3417 Kelox Road
General Information
Standard status
Pending
Size
1,990 SF
Property subtype
Triplex
Taxes and HOA fees
Annual Taxes
$2,709
Amenities
Central Air, Window Air Conditioning
Full Finished
3
Hardwood, Vinyl, Laminate
Washer, Single Oven, Dryer, Stove, Instant Hot Water, Refrigerator
Laundry Facilities, Unfurnished, 9Ft+ Ceilings, Plaster Wall
Pool
Tar Gravel, Shingle
Patio
NON-EXEMPT
Parking. Spa.
Driveway, Concrete Driveway, On Street.
Stucco, Brick, Shingle, Asbestos, Glass, Concrete, Fiber Cement, Asphalt
1.00 x
No Pool
Building Details
Year Built
1958
Stories
2
Construction
brick and wood siding
Listing Agency:
Keller Williams Realty Centre
(410) 312-0000
Listed By:
Nickolaus Waldner · License #589020
(443) 579-1516
Source:
Xome
Added: Sep 15, 2023
Changed: Aug 30
Last Checked: Aug 31 at 1:31PM
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 Keller Williams Realty Centre
Investment Insights
Based on property information with market context.
This 1,990-square-foot triplex property was built in 1958 and features a multi-level layout with hardwood flooring across the main and upper levels. The interior includes a living room, dining area, kitchen with laminate flooring and backsplash, three bedrooms, a full bathroom, and a finished lower level with two family rooms, a recreation room, half bathroom, and laundry area with storage. Central air, window air conditioning, a refrigerator, stove, single oven, dryer, washer, and instant hot water are included among the listed features.
Outdoor improvements include a covered front porch, rear patio, rear porch, and fenced backyard. The property also includes a concrete driveway and on-street parking. Exterior materials listed include brick, stucco, shingle, glass, concrete, fiber cement, asphalt, and asbestos.
Outdoor improvements include a covered front porch, rear patio, rear porch, and fenced backyard. The property also includes a concrete driveway and on-street parking. Exterior materials listed include brick, stucco, shingle, glass, concrete, fiber cement, asphalt, and asbestos.
Key Highlights
- 1,990‑square‑foot triplex property built in 1958
- Three bedrooms with hardwood flooring on the main and upper levels
- Finished lower level with two family rooms and a recreation room
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
$25,927
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
8.23%
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%
$518,540
$518.5K
Cap Rate 7%
$370,386
$370.4K
Cap Rate 9%
$288,078
$288.1K
Market Conditions
NOI Build-Up for 1,990 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
$50.1K $25.20/SF
− Vacancy
−$3.0K −$1.51/SF
EGI
$47.1K $23.69/SF
− OpEx
−$21.2K −$10.66/SF
NOI
$25.9K $13.03/SF
Area
Baltimore, MD
Vacancy
6.00%
Lease Rate
$25.20 /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%
$518,540
Cap Rate 7%
$370,386
Cap Rate 9%
$288,078
Alternative Uses
Best Use
Multifamily LT 5
$417.5K
$365.3K – $487.1K
NOI $29,224 @ 7.0% cap · market cap 9.28%
Second Best
Apartment 5plus
$370.4K
$324.1K – $432.1K
NOI $25,927 @ 7.0% cap · market cap 8.23%
Theoretical Best
Office A
$476.7K
$417.2K – $556.2K
NOI $33,372 @ 7.0% cap · market cap 10.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
266
Businesses Nearby
Explore this area
Business Placement
Demographics for 21207, MD
46,595
Population
20,974
Households
2.2
Avg Household Size
41
Median Age
31%
College-Educated
90%
High-School Grad
10.3 sq mi
ZIP Area
4,524
Density / Sq Mi
$64,284
Median Household Income
$45,737
Median Earnings
$1,390
Median Rent
$248,400
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?
Triplex - Finished lower-level space, outdoor areas, and a fenced backyard add functional appeal to this established residential income property.
Where is this triplex located?
The property is located at 3417 Kelox Road Gwynn Oak, MD.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 1,990‑square‑foot triplex property built in 1958; Three bedrooms with hardwood flooring on the main and upper levels; Finished lower level with two family rooms and a recreation room
