Building Details

Year Built 1850

Listing Agency: Long & Foster Real Estate, Inc. g***@lnf.com Show Phone

Listed By: Stephanie A Myers · License #81072 Show Phone

Source: Cummingsrealtors

Added: Oct 6 Changed: Oct 10 Last Checked: Oct 9 at 10:20PM

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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 Long & Foster Real Estate, Inc.

Investment Insights

Based on property information with market context.

This 1,754-square-foot duplex, built in 1850, contains two separate residences. Each unit offers one bedroom with a walk-in closet, a full bathroom, a kitchen with dining space, a living room, and laundry. Kitchen and bathroom updates, along with LVP flooring, are among the interior improvements. In 2018, the property received new siding and shingle roofing, and the metal roof was resurfaced.

Separate electric meters and driveways serve the units. Covered porches extend across the front and sides of the building, while the backyard borders mature trees. A storage shed and detached garage provide additional on-site storage. The property uses well water and a septic system.

Key Highlights

• Two‑unit duplex with 1,754 square feet
• Each unit has 1 bedroom, a walk‑in closet, full bath, kitchen and dining area, living room, and laundry
• Separate electric meters and driveways for the two units

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$22,794

Cap Rate

7.36%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$455,880 $455.9K

Cap Rate 7%

$325,629 $325.6K

Cap Rate 9%

$253,267 $253.3K

Market Conditions

NOI Build-Up for 1,754 SF

Gross rent

$34.1K $19.44/SF

− Vacancy

−$1.5K −$0.87/SF

EGI

$32.6K $18.57/SF

− OpEx

−$9.8K −$5.57/SF

NOI

$22.8K $13.00/SF

Area

Carroll County, MD

Vacancy

4.50%

Lease Rate

$19.44 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$455,880

Cap Rate 7%

$325,629

Cap Rate 9%

$253,267

Alternative Uses

Best Use

Multifamily LT 5

$325.6K

$284.9K – $379.9K (±1% cap)

NOI $22,794 @ 7.0% cap · market cap 7.36%

Second Best

Apartment 5plus

$281.3K

$246.1K – $328.2K (±1% cap)

NOI $19,691 @ 7.0% cap · market cap 6.35%

Theoretical Best

Office A

$650.5K

$569.2K – $758.9K (±1% cap)

NOI $45,533 @ 7.0% cap · market cap 14.69%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Building Supply Restaurant Auto Repair Shop Real Estate Agency Big Box & Wholesale Store Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

67

Businesses Nearby

Explore this area Business Placement

Demographics for 21048, MD

10,774

Population

3,740

Households

2.9

Avg Household Size

47

Median Age

43%

College-Educated

96%

High-School Grad

27.3 sq mi

ZIP Area

395

Density / Sq Mi

$122,801

Median Household Income

$66,003

Median Earnings

$1,500

Median Rent

$423,900

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Each residence has a separate electric meter, driveway, laundry area, and covered porch.

Where is this duplex located?

The property is located at 2035 OLD WESTMINSTER PIKE Finksburg, MD.

What is the asking price?

The asking price for this property is $309,900.

What are key features of this property?

This property features: Two‑unit duplex with 1,754 square feet; Each unit has 1 bedroom, a walk‑in closet, full bath, kitchen and dining area, living room, and laundry; Separate electric meters and driveways for the two units