Thurmont Multi-Family Investment
18-20 WATER ST, Thurmont, MD 21788
- Added:
- Aug 21, 2025
- Days on Market:
- 274
- Last Refresh:
- May 21 at 3:06 pm
Property Features for 18-20 WATER ST
General Information
- Property type
- Residential Multi Family
- Parking features
- Garage, Garage - Attached, Garage - Detached, On Street
- Interior features
- 2nd Kitchen, Attic, Ceiling Fan(s), Entry Level Bedroom, Floor Plan - Traditional, Recessed Lighting
- Appliances
- Dryer, Range, Range - Electric, Refrigerator
- Standard status
- Active
- Lot size
- 0.19 Acres
Taxes and HOA fees
- Tax Annual Amount
- 5636
Utilities
- Heating system
- Baseboard, Hot Water (Heating), Other (Heating)
- Cooling system
- Ceiling Fan(s), Multi Units, Window Unit(s)
Building Details
- Year built
- 1880
- Building materials
- Stone
- Architectural style
- Other
Listing agent Cindy Clipp (888) 536-0216
Listing office Braddock Heights 4802 Old National Pike, MD (888) 536-0216
Listing date Aug 21, 2025
MLS# MDFR2069024
Listing URL
Copyright © 2026 Long & Foster Real Estate. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- High Income Potential: Projected $4,000/month ($48,000/year) from combined rentals with an estimated gross cap rate over 11%.
- Multiple Income Streams: Two separate homes on one parcel plus eight rentable garage spaces.
- Flexible Living/Rental Options: Live in one home and rent the other, or rent both, plus the garages.
- Prime Location: Close to downtown Thurmont with easy access to commuter routes, schools, shopping, Cunningham Falls State Park, and Catoctin Mountain Park.
- Main Home is Move‑in Ready: Features spacious living areas, a main‑level bedroom and full bath, two additional bedrooms upstairs, and a sitting room.
- Eight Garage Bays: Across three structures, each with electric, ideal for storage, workshop, or contractor needs.
Overview
Located in Thurmont, Maryland, this property presents an investment opportunity with multiple income streams and rental potential. The property includes two separate homes on one parcel, along with eight garage spaces that can be rented individually. The main home features spacious living areas, a main-level bedroom and full bath, two additional upstairs bedrooms, and a sitting room over the kitchen. A new washer and dryer are located on the main level. The second home includes a large upstairs bedroom with a full bathroom. The kitchen and second full bath are located on a half-level down and require rehabilitation. The finished lower level includes a rec room and laundry area with a newer washer and dryer. A large upper-level deck needs repair, but the lumber to rebuild it is included. There are eight total garage bays across three structures: four facing the rear alley (three currently rented month to month), three side garages, and one tucked beneath the rear deck. Each garage bay has electric. The property has public water and sewer. Heating is provided by a boiler (oil), with window A/C units and electric hot water heaters, both approximately 2 years old. Situated minutes from downtown Thurmont, Route 15, Cunningham Falls State Park, and Catoctin Mountain Park, the property is located on a 0.19-acre lot in Northern Frederick County.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Multifamily properties
Location Insight
- Map
- Local Demand
- City
- Thurmont
- County
- Frederick
- State
- Maryland
- Longitude
- -77.4114786
- Latitude
- 39.6230553
Nearby Similar for Sale
FAQs
What type of property is this?
Multifamily property - Two homes, eight garages, strong rental potential in Thurmont.
Where is this multifamily property located?
The property is located at 18-20 WATER ST Thurmont, MD.
What is the asking price?
The asking price for this property is $374,900.
What are key features of this property?
This property features: High Income Potential: Projected $4,000/month ($48,000/year) from combined rentals with an estimated gross cap rate over 11%.; Multiple Income Streams: Two separate homes on one parcel plus eight rentable garage spaces.; Flexible Living/Rental Options: Live in one home and rent the other, or rent both, plus the garages.
