Building Details

Year built 1900

Number of units 3

Building materials Brick

Architectural style Colonial

Listing Agency: EXP Realty, LLC M***@exprealty.com Show Phone

Listed By: Samantha Turner · License #5007624 Show Phone

Added: Aug 17 Changed: Sep 29 Last Checked: Oct 6 at 6:06AM

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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 2,504-square-foot brick Colonial triplex, built in 1900, contains three one-bedroom units with distinct layouts. The residences include a traditional one-bedroom floor plan, a unit with finished loft space, and a two-level apartment with a large kitchen and attic storage. Kitchens and bathrooms have been updated, while window units provide cooling and baseboard and hot water systems support heating. Each residence is currently leased, and electric service is separately metered with utility costs paid by the tenants.

The property occupies 0.2201 acres in Funkstown, Maryland, with on-street parking and a large backyard. Municipal water, sewer, and trash service are in place. The location provides access to I-70 and the historic Funkstown setting, with refrigerator and electric oven/range appliances included.

Key Highlights

• Three one‑bedroom units, all currently leased
• 2,504 square feet on a 0.2201‑acre lot
• Brick Colonial construction dating to 1900

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

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.

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Building Supply HVAC Service Parking Lot & Garage Electrical Service Dental Office Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this triplexes located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Triplex - Brick Colonial property with updated kitchens and baths, separate electric metering, and natural gas heat.

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 one‑bedroom units, all currently leased; 2,504 square feet on a 0.2201‑acre lot; Brick Colonial construction dating to 1900