Duplex with 5-Car
New
For Sale
$398,000
2324 ORSBURN LN, Joppa, MD 21085
Two separate residences, updated interiors, extensive garage capacity, and wooded acreage with a spring and stream.
Property Size976 SF
Lot Size2.07 Acres
Price / SF$407.79
Days on Market5
Property Features for 2324 ORSBURN LN
General Information
Standard status
Active
Size
976 SF
Total Parking Spaces
5
Lot size
2.07 Acres
Property subtype
Multi-family
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1913
Year Renovated
2023
Listing Agency:
Berkshire Hathaway HomeServices Homesale Realty
(443) 917-6600
Listed By:
GILBERT PERRONE · License #676710
(443) 917-6600
Source:
Careyrealtygroup
Added: Aug 26
Changed: Aug 27
Last Checked: Aug 29 at 9:27AM
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 Berkshire Hathaway HomeServices Homesale Realty
Investment Insights
Based on property information with market context.
This duplex property at 2324 Orsburn Ln includes two independent living units: one with 2 bedrooms and 1 full bath, and another with 1 bedroom and 1 full bath. The kitchens and bathrooms were renovated in 2023, while a new boiler/furnace and septic tanks were installed in 2026. An unfinished basement adds storage space.
Set on 2.07 acres near Route 152, the property includes a natural spring, stream, wooded surroundings, two driveways, and no HOA. The detached garage measures approximately 975 square feet, has three overhead doors and window air conditioning, and accommodates up to five vehicles. The property is approximately one mile from the I-95 entrance, about 30 minutes from Baltimore, and approximately 60 minutes from Washington, D.C., or Philadelphia. It is located in the Fallston school district and near shopping, dining, employment centers, and Aberdeen Proving Ground.
Set on 2.07 acres near Route 152, the property includes a natural spring, stream, wooded surroundings, two driveways, and no HOA. The detached garage measures approximately 975 square feet, has three overhead doors and window air conditioning, and accommodates up to five vehicles. The property is approximately one mile from the I-95 entrance, about 30 minutes from Baltimore, and approximately 60 minutes from Washington, D.C., or Philadelphia. It is located in the Fallston school district and near shopping, dining, employment centers, and Aberdeen Proving Ground.
Key Highlights
- Two living units: 2 bedrooms/1 full bath and 1 bedroom/1 full bath
- Approximately 975‑square‑foot detached garage with three overhead doors
- Garage accommodates up to five vehicles and includes window air conditioning
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 - Two separate residences, updated interiors, extensive garage capacity, and wooded acreage with a spring and stream.
Where is this duplex located?
The property is located at 2324 ORSBURN LN 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 living units: 2 bedrooms/1 full bath and 1 bedroom/1 full bath; Approximately 975‑square‑foot detached garage with three overhead doors; Garage accommodates up to five vehicles and includes window air conditioning
