4-Unit Residential Income
New
For Sale
$215,000
191 E MAIN Street, Frostburg, MD 21532
Multi-Family, FROSTBURG, MD
Property Size2,434 SF
Lot Size0.21 Acres
Price / SF$88.33
Days on Market3
Property Features for 191 E MAIN Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking
5
Parking features
Off Street, Garage - Attached
Elementary school district
ALLEGANY COUNTY PUBLIC SCHOOLS
Middle school district
ALLEGANY COUNTY PUBLIC SCHOOLS
High school district
ALLEGANY COUNTY PUBLIC SCHOOLS
Standard status
Active
Size
2,434 SF
Lot size
0.21 Acres
Additional Details
Individually Metered Utilities
electric, water
Taxes and HOA fees
Tax Annual Amount
2084
Utilities
Heating system
Other (Heating)
Amenities
back deck
laundry area
Building Details
Year built
1920
Number of units
4
Building materials
Brick, Vinyl Siding
Architectural style
Victorian
Buildings
1
Listing Agency:
Mountainside Home Realty
(301) 722-0190
Listed By:
Allyson M. Litten · License #666909
(301) 268-7504
Added: Oct 28
Changed: Oct 29
Last Checked: Oct 30 at 1:06AM
MLS# MDAL2016294
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 2,434-square-foot residential income property contains four apartments, each with a bedroom and full bathroom. Two units occupy the main level, while two are upstairs; the upper-floor efficiency-style apartment includes an eat-in kitchen. One main-level apartment opens onto a rear deck. The 1920-built structure combines brick and vinyl siding, with a basement providing storage, laundry, and utility areas, plus an attached one-car garage.
The 0.2083-acre parcel includes a second lot, off-street parking, and yard space. Electricity and water are separately metered. The four-unit layout is distributed over two floors, with basement service and storage areas below.
The 0.2083-acre parcel includes a second lot, off-street parking, and yard space. Electricity and water are separately metered. The four-unit layout is distributed over two floors, with basement service and storage areas below.
Key Highlights
- Four apartments, each with 1 bedroom and 1 bathroom
- 2,434 square feet on a 0.2083‑acre double lot
- Built in 1920 with brick and vinyl siding
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,475
Cap Rate
7.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$329,500
$329.5K
Cap Rate 7%
$235,357
$235.4K
Cap Rate 9%
$183,056
$183.1K
Market Conditions
NOI Build-Up for 2,434 SF
Gross rent
$24.8K $10.20/SF
− Vacancy
−$1.3K −$0.53/SF
EGI
$23.5K $9.67/SF
− OpEx
−$7.1K −$2.90/SF
NOI
$16.5K $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%
$329,500
Cap Rate 7%
$235,357
Cap Rate 9%
$183,056
Alternative Uses
Best Use
Multifamily LT 5
$235.4K
$205.9K – $274.6K
NOI $16,475 @ 7.0% cap · market cap 7.66%
Second Best
Apartment 5plus
$218.0K
$190.8K – $254.4K
NOI $15,261 @ 7.0% cap · market cap 7.10%
Theoretical Best
Office A
$902.7K
$789.8K – $1.05M
NOI $63,186 @ 7.0% cap · market cap 29.39%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
512
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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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four apartments are arranged across two levels, with basement storage, laundry space, and an attached garage.
Where is this quadplex located?
The property is located at 191 E MAIN Street Frostburg, MD.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Four apartments, each with 1 bedroom and 1 bathroom; 2,434 square feet on a 0.2083‑acre double lot; Built in 1920 with brick and vinyl siding
