Updated Two-Unit
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 Market52
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: Oct 25
Last Checked: Oct 28 at 8:38AM
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
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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 / Yr
$12,265
Cap Rate
8.46%
Suggested Prices Based on Cap Rates
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
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 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.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
393
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in South region
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
