Updated Duplex with Rental
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 Market158
Property Features for 24 HILL Street
General Information
Property type
Residential Multi Family
Property subtype
Other
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: Jul 17
Last Checked: Jul 31 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.
Investment Insights
Based on property information with market context.
This multifamily property in Frostburg, Maryland, features an up-and-down duplex configuration. Each unit includes 2 bedrooms, 1 full bathroom, a living room, and a kitchen. The property is fully rented and has been updated, demonstrating an excellent rental history. The property size is 1502 square feet and it sits on a lot of approximately 0.155 acres.
Key Highlights
- Up‑and‑down duplex with 2 bedrooms and 1 full bathroom per unit
- Each unit includes a living room and kitchen
- Fully rented duplex with excellent rental history
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $15.3k | $10.20 |
| − Vacancy | −$797 | −$0.53 |
| EGI | $14.5k | $9.67 |
| − OpEx | −$4.4k | −$2.90 |
| NOI | $10.2k | $6.77 |
1,502 SF · lease $10.20/SF/yr · vacancy 5.20% · expense 30.00%
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.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit duplex in Frostburg, MD, fully rented and updated.
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: Up‑and‑down duplex with 2 bedrooms and 1 full bathroom per unit; Each unit includes a living room and kitchen; Fully rented duplex with excellent rental history
