Building Details

Year Built 1900

Tenancy Multi

Listing Agency: EXP Realty, LLC m***@exprealty.net Show Phone

Listed By: Samantha Turner · License #0225277183 Show Phone

Source: Cummingsrealtors

Added: Aug 10 Changed: Oct 23 Last Checked: Oct 23 at 8:51AM

Report an Issue

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 EXP Realty, LLC

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 2,504-square-foot triplex, built in 1900, contains three leased one-bedroom units and is currently fully occupied. The layouts provide variety across the building: one unit includes finished loft space, while another spans two levels and adds a large kitchen with attic storage. Kitchens and bathrooms have been updated throughout, and natural gas heating serves the property. Electric service is separately metered for each unit.

The property is located at 14 & 16 W Baltimore Street in Funkstown, Maryland, within Washington County. Access to I-70 supports connectivity beyond the immediate area, while the setting includes the historic Funkstown community and its local amenities. A large backyard provides additional exterior space associated with the property.

Key Highlights

• Three‑unit triplex with all units currently leased
• 2,504 square feet on a 0.14‑acre lot
• Three one‑bedroom units with distinct layouts

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$26,266

Cap Rate

9.06%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$525,320 $525.3K

Cap Rate 7%

$375,229 $375.2K

Cap Rate 9%

$291,844 $291.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,504 SF

Gross rent

$40.6K $16.20/SF

− Vacancy

−$3.0K −$1.22/SF

EGI

$37.5K $14.99/SF

− OpEx

−$11.3K −$4.50/SF

NOI

$26.3K $10.49/SF

Area

Washington County, MD

Vacancy

7.50%

Lease Rate

$16.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$525,320

Cap Rate 7%

$375,229

Cap Rate 9%

$291,844

Alternative Uses

Best Use

Multifamily LT 5

$375.2K

$328.3K – $437.8K (±1% cap)

NOI $26,266 @ 7.0% cap · market cap 9.06%

Second Best

Apartment 5plus

$336.7K

$294.6K – $392.8K (±1% cap)

NOI $23,566 @ 7.0% cap · market cap 8.13%

Theoretical Best

Office A

$555.4K

$486.0K – $648.0K (±1% cap)

NOI $38,881 @ 7.0% cap · market cap 13.41%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Lease Details

3

Residential units

100%

Occupancy

Multi-tenant

Tenancy

Yes

Highway access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

159

Businesses Nearby

Explore this area Business Placement

Demographics for 21734, MD

845

Population

487

Households

1.7

Avg Household Size

52

Median Age

32%

College-Educated

91%

High-School Grad

0.5 sq mi

ZIP Area

1,690

Density / Sq Mi

$58,438

Median Household Income

$32,109

Median Earnings

$802

Median Rent

$241,900

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Frequently Asked Questions

What type of property is this?

Triplex - Fully leased residential property with refreshed kitchens and baths, natural gas heat, and separately metered electric service.

Where is this triplex located?

The property is located at 14 & 16 W BALTIMORE STREET Funkstown, MD.

What is the asking price?

The asking price for this property is $289,900.

What are key features of this property?

This property features: Three‑unit triplex with all units currently leased; 2,504 square feet on a 0.14‑acre lot; Three one‑bedroom units with distinct layouts