Brick Duplex with Original
For Sale
$155,000
227 Wallace St, Cumberland, MD 21502
Two-unit property with separate utility meters, porches, central air, and a full unfinished basement.
Property Size2,058 SF
Price / SF$75.32
Days on Market59
Property Features for 227 Wallace St
General Information
Standard status
Active
Size
2,058 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 1BR, 1 x 2BR
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$1,902
Amenities
screened-in rear porch
front porch balcony
central air
full unfinished basement
Building Details
Construction
brick
Listing Agency:
EXP Realty, LLC
(888) 860-7369
Listed By:
Pamela A Terry · License #523439
(301) 697-1442
Source:
Exprealty
Added: Aug 19
Changed: Oct 8
Last Checked: Oct 16 at 12:28PM
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 EXP Realty, LLC
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Investment Insights
Based on property information with market context.
This 2,058-square-foot brick duplex contains one one-bedroom unit and one two-bedroom unit, with original woodwork and generous living areas throughout. The main-level residence includes a living room, dining room, pocket doors, and front and rear porches, while the upper unit has its own front porch balcony. A full unfinished basement provides additional storage.
Each unit has separately metered utilities, including water. Heating includes radiator service upstairs and natural gas forced-air heat downstairs, with central air serving the property. Appliances convey, including the washer and dryer. The layout also supports consideration of restoring the building as a single-family residence, subject to applicable requirements.
Each unit has separately metered utilities, including water. Heating includes radiator service upstairs and natural gas forced-air heat downstairs, with central air serving the property. Appliances convey, including the washer and dryer. The layout also supports consideration of restoring the building as a single-family residence, subject to applicable requirements.
Key Highlights
- 2,058‑square‑foot brick duplex at 227 Wallace St, Cumberland, MD
- Unit mix includes one 1‑bedroom unit and one 2‑bedroom unit
- Separate utility meters for each unit, including water
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,930
Cap Rate
8.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$278,600
$278.6K
Cap Rate 7%
$199,000
$199.0K
Cap Rate 9%
$154,778
$154.8K
Market Conditions
NOI Build-Up for 2,058 SF
Gross rent
$21.0K $10.20/SF
− Vacancy
−$1.1K −$0.53/SF
EGI
$19.9K $9.67/SF
− OpEx
−$6.0K −$2.90/SF
NOI
$13.9K $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%
$278,600
Cap Rate 7%
$199,000
Cap Rate 9%
$154,778
Alternative Uses
Best Use
Multifamily LT 5
$199.0K
$174.1K – $232.2K
NOI $13,930 @ 7.0% cap · market cap 8.99%
Second Best
Apartment 5plus
$184.3K
$161.3K – $215.1K
NOI $12,904 @ 7.0% cap · market cap 8.33%
Theoretical Best
Office A
$763.2K
$667.8K – $890.4K
NOI $53,425 @ 7.0% cap · market cap 34.47%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,315
Businesses Nearby
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Business Placement
Demographics for 21502, MD
41,153
Population
19,562
Households
2.1
Avg Household Size
44
Median Age
20%
College-Educated
89%
High-School Grad
92.1 sq mi
ZIP Area
447
Density / Sq Mi
$58,721
Median Household Income
$39,507
Median Earnings
$771
Median Rent
$151,400
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 - Two-unit property with separate utility meters, porches, central air, and a full unfinished basement.
Where is this duplex located?
The property is located at 227 Wallace St Cumberland, MD.
What is the asking price?
The asking price for this property is $155,000.
What are key features of this property?
This property features: 2,058‑square‑foot brick duplex at 227 Wallace St, Cumberland, MD; Unit mix includes one 1‑bedroom unit and one 2‑bedroom unit; Separate utility meters for each unit, including water
