Fully Occupied
New
For Sale
$299,900
14 & 16 W BALTIMORE Street, Funkstown, MD 21734
MULTI_FAMILY - Colonial - FUNKSTOWN, MD
Property Size2,504 SF
Lot Size0.22 Acres
Price / SF$119.77
Days on Market5
Property Features for 14 & 16 W BALTIMORE Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Rooms
Basement
Parking features
On Street
Interior features
Attic
Appliances
Refrigerator, Oven/Range - Electric
Elementary school district
WASHINGTON COUNTY PUBLIC SCHOOLS
Middle school district
WASHINGTON COUNTY PUBLIC SCHOOLS
High school district
WASHINGTON COUNTY PUBLIC SCHOOLS
Standard status
Active
Size
2,504 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Annual Amount
2563
Utilities
Heating system
Baseboard, Hot Water(Heating)
Cooling system
Window Unit(s)
Building Details
Year built
1900
Number of units
3
Building materials
Brick
Architectural style
Colonial
Listing Agency:
EXP Realty, LLC
(888) 860-7369
Listed By:
Samantha Turner · License #5007624
(301) 331-4447
Added: Aug 17
Last Checked: Aug 21 at 2:06PM
MLS# MDWA2039204
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 Colonial brick triplex contains 2,504 square feet across three one-bedroom residences, each with a distinct layout. The unit mix includes a traditional one-bedroom, a one-bedroom with finished loft space, and a two-level one-bedroom with a large kitchen and attic storage. Kitchens and bathrooms have been updated, while baseboard and hot water heating are supported by natural gas. Electric service is separately metered, and window units provide cooling. All three apartments are currently leased.
The property occupies 0.2201 acres at 14 & 16 W Baltimore Street in Funkstown, Maryland. On-street parking is provided, and the large backyard may offer room for additional off-street parking or a detached garage, subject to applicable approvals. Built in 1900, the building also includes basement space and an attic.
The property occupies 0.2201 acres at 14 & 16 W Baltimore Street in Funkstown, Maryland. On-street parking is provided, and the large backyard may offer room for additional off-street parking or a detached garage, subject to applicable approvals. Built in 1900, the building also includes basement space and an attic.
Key Highlights
- Three‑unit Colonial brick property with 2,504 square feet
- All three one‑bedroom units are currently leased
- Unit mix includes a finished loft and a two‑level residence with attic storage
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
$26,266
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
8.76%
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%
$525,320
$525.3K
Cap Rate 7%
$375,229
$375.2K
Cap Rate 9%
$291,844
$291.8K
Market Conditions
NOI Build-Up for 2,504 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
$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 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%
$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
NOI $26,266 @ 7.0% cap · market cap 8.76%
Second Best
Apartment 5plus
$336.7K
$294.6K – $392.8K
NOI $23,566 @ 7.0% cap · market cap 7.86%
Theoretical Best
Office A
$555.4K
$486.0K – $648.0K
NOI $38,881 @ 7.0% cap · market cap 12.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
172
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
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 - Three leased one-bedroom units offer current occupancy and updated kitchens and baths.
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 $299,900.
What are key features of this property?
This property features: Three‑unit Colonial brick property with 2,504 square feet; All three one‑bedroom units are currently leased; Unit mix includes a finished loft and a two‑level residence with attic storage
