Updated Two-Unit
For Sale
$159,000
24 HILL Street, Frostburg, MD 21532
Multi-Family, FROSTBURG, MD
Property Size1,502 SF
Lot Size0.16 Acres
Price / SF$105.86
Days on Market249
Property Features for 24 HILL Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
On Street
Elementary school district
ALLEGANY COUNTY PUBLIC SCHOOLS
Middle school district
ALLEGANY COUNTY PUBLIC SCHOOLS
High school district
ALLEGANY COUNTY PUBLIC SCHOOLS
Standard status
Active
Size
1,502 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
1840
Utilities
Heating system
Electric (Heating), Baseboard
Building Details
Year built
1900
Number of units
1
Building materials
Stick Built
Listing Agency:
Better Homes & Gardens Real Estate Old Line Group
(301) 689-0100
Listed By:
Jeremy Rice · License #5010595
(301) 697-0106
Added: Feb 23
Changed: Oct 8
Last Checked: Oct 30 at 2:06AM
MLS# MDAL2013950
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.
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Investment Insights
Based on property information with market context.
This two-unit duplex contains 1,502 square feet in an up-and-down arrangement. Each apartment includes two bedrooms, one full bathroom, a living room, and a kitchen. The property has been updated and is currently fully rented, with electric baseboard heating and stick-built construction dating to 1900.
Located at 24 Hill Street in Frostburg, Maryland, the property occupies 0.155 acres in Allegany County. Parking is provided on the street. Its two-apartment configuration and established occupancy offer a straightforward residential income property profile.
Located at 24 Hill Street in Frostburg, Maryland, the property occupies 0.155 acres in Allegany County. Parking is provided on the street. Its two-apartment configuration and established occupancy offer a straightforward residential income property profile.
Key Highlights
- Two‑unit up‑and‑down duplex with 1,502 square feet
- Each apartment has 2 bedrooms, 1 full bathroom, living room, and kitchen
- Fully rented with updated interiors
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
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 - Income-producing residential property with two separately configured apartments and current occupancy.
Where is this duplex located?
The property is located at 24 HILL Street 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 with 1,502 square feet; Each apartment has 2 bedrooms, 1 full bathroom, living room, and kitchen; Fully rented with updated interiors
