Updated Two-Unit
For Sale
$159,000
24 HILL ST, Frostburg, MD 21532
Each residence includes two bedrooms, a full bathroom, a living area, and a kitchen.
Property Size1,502 SF
Price / SF$105.86
Days on Market50
Property Features for 24 HILL ST
General Information
Standard status
Active
Size
1,502 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
2
Listing Agency:
Better Homes & Gardens Real Estate Old Line Group
(301) 689-0100
Listed By:
Jeremy Rice · License #5010595
(301) 697-0106
Source:
Opal-realestate
Added: Aug 28
Changed: Oct 2
Last Checked: Oct 14 at 10:58PM
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 Better Homes & Gardens Real Estate Old Line Group
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Investment Insights
Based on property information with market context.
This two-unit duplex is arranged with one residence above the other. Each home provides two bedrooms, one full bathroom, a living room, and a kitchen, creating a consistent layout across both units. The interiors have been updated, and both residences are currently rented.
Located at 24 Hill St in Frostburg, Maryland, the property offers an established residential income configuration with two separately occupied homes. The units share the same practical bedroom and common-area arrangement, while the current occupancy provides a fully leased setup.
Located at 24 Hill St in Frostburg, Maryland, the property offers an established residential income configuration with two separately occupied homes. The units share the same practical bedroom and common-area arrangement, while the current occupancy provides a fully leased setup.
Key Highlights
- Two‑unit up‑and‑down duplex configuration
- Each unit has 2 bedrooms and 1 full bathroom
- Both residences include a living room and kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,167
Cap Rate
6.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$203,340
$203.3K
Cap Rate 7%
$145,243
$145.2K
Cap Rate 9%
$112,967
$113.0K
Market Conditions
NOI Build-Up for 1,502 SF
Gross rent
$15.3K $10.20/SF
− Vacancy
−$797 −$0.53/SF
EGI
$14.5K $9.67/SF
− OpEx
−$4.4K −$2.90/SF
NOI
$10.2K $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%
$203,340
Cap Rate 7%
$145,243
Cap Rate 9%
$112,967
Alternative Uses
Best Use
Multifamily LT 5
$145.2K
$127.1K – $169.5K
NOI $10,167 @ 7.0% cap · market cap 6.39%
Second Best
Apartment 5plus
$134.5K
$117.7K – $157.0K
NOI $9,418 @ 7.0% cap · market cap 5.92%
Theoretical Best
Office A
$557.0K
$487.4K – $649.9K
NOI $38,991 @ 7.0% cap · market cap 24.52%
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
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
523
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?
Duplex - Each residence includes two bedrooms, a full bathroom, a living area, and a kitchen.
Where is this duplex located?
The property is located at 24 HILL ST Frostburg, MD.
What is the asking price?
The asking price for this property is $159,000.
What are key features of this property?
This property features: Two‑unit up‑and‑down duplex configuration; Each unit has 2 bedrooms and 1 full bathroom; Both residences include a living room and kitchen
