Duplex with Detached 5-Car
For Sale
$398,000
2324 ORSBURN Lane, Joppa, MD 21085
MULTI_FAMILY - Other - JOPPA, MD
Property Size976 SF
Lot Size2.07 Acres
Price / SF$407.79
Days on Market54
Property Features for 2324 ORSBURN Lane
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking
10
Parking features
Driveway, Garage - Detached
Interior features
Bathroom - Tub Shower, Water Treat System
Appliances
Dryer, Exhaust Fan, Microwave, Refrigerator, Stove, Washer, WaterHeater
Elementary school
YOUTHS BENEFIT
Middle school
FALLSTON
High school
FALLSTON
Elementary school district
HARFORD COUNTY PUBLIC SCHOOLS
Middle school district
HARFORD COUNTY PUBLIC SCHOOLS
High school district
HARFORD COUNTY PUBLIC SCHOOLS
Standard status
Active
Size
976 SF
Lot size
2.07 Acres
Taxes and HOA fees
Tax Annual Amount
2400
Utilities
Heating system
Hot Water(Heating), Baseboard
Cooling system
Window Unit(s), Ceiling Fan(s)
Building Details
Year built
1913
Number of units
2
Building materials
Stucco
Architectural style
Other
Listing Agency:
Berkshire Hathaway HomeServices Homesale Realty
(410) 697-8100
Listed By:
GILBERT PERRONE · License #676710
(443) 917-6600
Added: Jun 16
Changed: Aug 5
Last Checked: Aug 8 at 10:06PM
MLS# MDHR2054662
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.
Investment Insights
Based on property information with market context.
Duplex on 2.07 acres featuring two separate living units. Unit 1 offers two bedrooms and 1 full bathroom. Unit 2 offers one bedroom and 1 full bathroom, with a separate configuration suitable for multigenerational living or an owner-occupant setup with additional income potential. The property was built in 1913 and includes an unfinished basement for storage and future possibilities.
Major improvements include renovated kitchens and bathrooms completed in 2023, fresh interior paint, a brand-new boiler/furnace installed in 2026, and new septic tanks installed in 2026. Heating is provided by baseboard and hot water systems, and cooling includes window unit(s) and ceiling fans. Appliances include dryer, exhaust fan, microwave, refrigerator, stove, washer, and water heater.
Car enthusiasts and contractors will appreciate the detached garage of approximately 975 square feet with three overhead doors, window air conditioning, and room for up to five vehicles, plus space for a workshop or storage. The setting is wooded and includes a natural spring and stream, along with two separate driveways. The home is in the Fallston school district and has no HOA.
Major improvements include renovated kitchens and bathrooms completed in 2023, fresh interior paint, a brand-new boiler/furnace installed in 2026, and new septic tanks installed in 2026. Heating is provided by baseboard and hot water systems, and cooling includes window unit(s) and ceiling fans. Appliances include dryer, exhaust fan, microwave, refrigerator, stove, washer, and water heater.
Car enthusiasts and contractors will appreciate the detached garage of approximately 975 square feet with three overhead doors, window air conditioning, and room for up to five vehicles, plus space for a workshop or storage. The setting is wooded and includes a natural spring and stream, along with two separate driveways. The home is in the Fallston school district and has no HOA.
Key Highlights
- Two separate living units: two‑bedroom/one‑bath and one‑bedroom/one‑bath
- 2.07‑acre wooded setting with natural spring and stream plus two separate driveways
- Approx. 975‑square‑foot detached garage with three overhead doors, window A/C, and room for up to five vehicles
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
$14,030
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
3.53%
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%
$280,600
$280.6K
Cap Rate 7%
$200,429
$200.4K
Cap Rate 9%
$155,889
$155.9K
Market Conditions
NOI Build-Up for 976 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
$21.7K $22.20/SF
− Vacancy
−$1.6K −$1.67/SF
EGI
$20.0K $20.54/SF
− OpEx
−$6.0K −$6.16/SF
NOI
$14.0K $14.37/SF
Area
Harford County, MD
Vacancy
7.50%
Lease Rate
$22.20 /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%
$280,600
Cap Rate 7%
$200,429
Cap Rate 9%
$155,889
Alternative Uses
Best Use
Multifamily LT 5
$200.4K
$175.4K – $233.8K
NOI $14,030 @ 7.0% cap · market cap 3.53%
Second Best
Apartment 5plus
$186.7K
$163.4K – $217.8K
NOI $13,070 @ 7.0% cap · market cap 3.28%
Theoretical Best
Office A
$343.4K
$300.5K – $400.7K
NOI $24,039 @ 7.0% cap · market cap 6.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
101
Businesses Nearby
Explore this area
Business Placement
Demographics for 21085, MD
17,142
Population
7,073
Households
2.4
Avg Household Size
43
Median Age
31%
College-Educated
93%
High-School Grad
19.0 sq mi
ZIP Area
902
Density / Sq Mi
$107,975
Median Household Income
$63,132
Median Earnings
$1,593
Median Rent
$327,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex on 2.07 acres with two separate units, renovated in 2023, and a 975-square-foot detached garage.
Where is this duplex located?
The property is located at 2324 ORSBURN Lane Joppa, MD.
What is the asking price?
The asking price for this property is $398,000.
What are key features of this property?
This property features: Two separate living units: two‑bedroom/one‑bath and one‑bedroom/one‑bath; 2.07‑acre wooded setting with natural spring and stream plus two separate driveways; Approx. 975‑square‑foot detached garage with three overhead doors, window A/C, and room for up to five vehicles
