Updated Two-Unit
New
For Sale
$145,000
147 W MECHANIC ST, Frostburg, MD 21532
Over-under layout with two-bedroom units, separate meters, and additional paved parking.
Property Size1,812 SF
Price / SF$80.02
Days on Market6
Property Features for 147 W MECHANIC ST
General Information
Standard status
Active
Size
1,812 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Listing Agency:
The Goodfellow Agency
(301) 689-8857
Listed By:
Cynthia Diamond · License #650910
(240) 362-2263
Source:
Imanirealtors
Added: Sep 9
Changed: Sep 10
Last Checked: Sep 13 at 11:24AM
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 The Goodfellow Agency
Investment Insights
Based on property information with market context.
This two-unit duplex offers an over-under configuration with 1,812 square feet of total property size. Each residence includes two bedrooms and its own meter. Recent improvements include a roof installed in 2021, exterior stairs serving the upper unit, and updated kitchen cabinetry with granite countertops in Unit 2.
The property is located at 147 W Mechanic St in Frostburg, Maryland. A second paved parcel provides off-street parking, adding functional parking capacity for the residents.
The property is located at 147 W Mechanic St in Frostburg, Maryland. A second paved parcel provides off-street parking, adding functional parking capacity for the residents.
Key Highlights
- Two‑unit over‑under duplex with 1,812 square feet
- Each unit includes 2 bedrooms and a separate meter
- Second paved parcel provides off‑street parking
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
$12,265
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
8.46%
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%
$245,300
$245.3K
Cap Rate 7%
$175,214
$175.2K
Cap Rate 9%
$136,278
$136.3K
Market Conditions
NOI Build-Up for 1,812 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
$18.5K $10.20/SF
− Vacancy
−$961 −$0.53/SF
EGI
$17.5K $9.67/SF
− OpEx
−$5.3K −$2.90/SF
NOI
$12.3K $6.77/SF
Area
Allegany County, MD
Vacancy
5.20%
Lease Rate
$10.20 /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%
$245,300
Cap Rate 7%
$175,214
Cap Rate 9%
$136,278
Alternative Uses
Best Use
Multifamily LT 5
$175.2K
$153.3K – $204.4K
NOI $12,265 @ 7.0% cap · market cap 8.46%
Second Best
Apartment 5plus
$162.3K
$142.0K – $189.4K
NOI $11,361 @ 7.0% cap · market cap 7.84%
Theoretical Best
Office A
$672.0K
$588.0K – $784.0K
NOI $47,039 @ 7.0% cap · market cap 32.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
393
Businesses Nearby
Explore this area
Business Placement
Demographics for 21532, MD
13,328
Population
6,044
Households
2.2
Avg Household Size
39
Median Age
33%
College-Educated
93%
High-School Grad
74.1 sq mi
ZIP Area
180
Density / Sq Mi
$60,158
Median Household Income
$33,054
Median Earnings
$839
Median Rent
$175,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Over-under layout with two-bedroom units, separate meters, and additional paved parking.
Where is this duplex located?
The property is located at 147 W MECHANIC ST Frostburg, MD.
What is the asking price?
The asking price for this property is $145,000.
What are key features of this property?
This property features: Two‑unit over‑under duplex with 1,812 square feet; Each unit includes 2 bedrooms and a separate meter; Second paved parcel provides off‑street parking
