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: Oct 21 Last Checked: Oct 24 at 2:06PM

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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.

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Investment Insights

Based on property information with market context.

This 2,504-square-foot brick triplex, built in 1900, contains three one-bedroom apartments with distinct configurations. One includes finished loft space, while another spans two levels and has a large kitchen and attic storage. The kitchens and bathrooms have been updated. Each apartment has a separate electric meter, and residents pay their own electric service. Heating is by natural gas, with hot-water baseboard distribution; window units provide cooling.

The property occupies a 0.2201-acre lot in Funkstown, with access to I-70. Municipal water, sewer, and trash service are provided. All three apartments are currently leased.

Key Highlights

• Three one‑bedroom apartments, all currently leased
• 2,504 square feet in a brick building constructed in 1900
• 0.2201‑acre lot

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

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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

Frequently Asked Questions

What type of property is this?

Triplex - All three apartments are leased, with electricity separately metered and paid by residents.

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 apartments, all currently leased; 2,504 square feet in a brick building constructed in 1900; 0.2201‑acre lot