Side-by-Side
For Sale
$325,000
19 HOLLINGSWORTH MNR, Elkton, MD 21921
Two first-floor residences feature private laundry and separate utilities for each unit.
Property Size1,992 SF
Price / SF$163.15
Days on Market9
Property Features for 19 HOLLINGSWORTH MNR
General Information
Standard status
Active
Size
1,992 SF
Property subtype
Duplex
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Amenities
in-unit washer/dryer
Building Details
Year Built
1975
Listing Agency:
Phoenix Real Estate
Listed By:
Michael R. Davis
(302) 300-2300
Source:
Cummingsrealtors
Added: Sep 6
Changed: Sep 14
Last Checked: Sep 14 at 8:09AM
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 Phoenix Real Estate
Investment Insights
Based on property information with market context.
This duplex offering combines the adjoining residences at 19 and 20 Hollingsworth Manor in Elkton. The property contains two first-floor units, each with three bedrooms and one bathroom. Dedicated in-unit washers and dryers serve both residences, while separate utilities support individual unit operations.
Constructed in 1975, the building offers a straightforward two-unit configuration with a documented rental history. The side-by-side layout provides distinct living spaces within one income-producing property, and both residences remain on a single level.
Constructed in 1975, the building offers a straightforward two-unit configuration with a documented rental history. The side-by-side layout provides distinct living spaces within one income-producing property, and both residences remain on a single level.
Key Highlights
- Two side‑by‑side duplex units at 19 & 20 Hollingsworth Manor
- Each unit includes 3 bedrooms and 1 bathroom
- Both residences are situated on the first floor
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
$19,812
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
6.10%
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%
$396,240
$396.2K
Cap Rate 7%
$283,029
$283.0K
Cap Rate 9%
$220,133
$220.1K
Market Conditions
NOI Build-Up for 1,992 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
$30.6K $15.36/SF
− Vacancy
−$2.3K −$1.15/SF
EGI
$28.3K $14.21/SF
− OpEx
−$8.5K −$4.26/SF
NOI
$19.8K $9.95/SF
Area
Cecil County, MD
Vacancy
7.50%
Lease Rate
$15.36 /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%
$396,240
Cap Rate 7%
$283,029
Cap Rate 9%
$220,133
Alternative Uses
Best Use
Multifamily LT 5
$283.0K
$247.7K – $330.2K
NOI $19,812 @ 7.0% cap · market cap 6.10%
Second Best
Apartment 5plus
$249.4K
$218.2K – $290.9K
NOI $17,456 @ 7.0% cap · market cap 5.37%
Theoretical Best
Office A
$738.7K
$646.4K – $861.9K
NOI $51,712 @ 7.0% cap · market cap 15.91%
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
611
Businesses Nearby
Explore this area
Business Placement
Demographics for 21921, MD
44,983
Population
18,782
Households
2.4
Avg Household Size
39
Median Age
28%
College-Educated
92%
High-School Grad
94.7 sq mi
ZIP Area
475
Density / Sq Mi
$84,608
Median Household Income
$48,300
Median Earnings
$1,413
Median Rent
$296,000
Median Home Value
Check the figures for this property
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 - Two first-floor residences feature private laundry and separate utilities for each unit.
Where is this duplex located?
The property is located at 19 HOLLINGSWORTH MNR Elkton, MD.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two side‑by‑side duplex units at 19 & 20 Hollingsworth Manor; Each unit includes 3 bedrooms and 1 bathroom; Both residences are situated on the first floor
