Income-Producing Duplex with
For Sale
$139,000
Pending
268 East Main Street, Frostburg, MD 21532
Duplex offers two two-bedroom, one-bath units, each with stove and refrigerator, plus off-street parking and a full unfinished basement.
Property Size1,600 SF
Days on Market126
Property Features for 268 East Main Street
General Information
Standard status
Pending
Size
1,600 SF
Total Parking Spaces
2
Property subtype
Multi-Family / Fee Simple
Zoning
R2
Occupancy
100%
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,214
Amenities
No
Refrigerator, Stove
No Pool
Building Details
Year Built
1920
Tenancy
Multi
Listing Agency:
EXP Realty, LLC
Listed By:
Pamela A Terry · License #523439
(301) 697-1442
Source:
Compass
Added: May 3
Changed: Aug 8
Last Checked: Jul 24 at 12:52PM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This income-producing duplex includes two separate units, each featuring 2 bedrooms and 1 full bathroom. Both units have a stove and refrigerator. Heating is provided by a combination of natural gas radiator heat and electric baseboard heating. The property also includes a full unfinished basement with a stone foundation, offering storage and utility access, along with off-street parking and a driveway for tenant convenience.
The property is located in city limits in Allegany County, Maryland. It is positioned near everyday amenities including food, shopping, and medical facilities.
For showings, the listing requires 24-hour notice.
The property is located in city limits in Allegany County, Maryland. It is positioned near everyday amenities including food, shopping, and medical facilities.
For showings, the listing requires 24-hour notice.
Key Highlights
- Income‑producing duplex with 2 units; each unit has 2 bedrooms and 1 full bath.
- Both units are currently rented at $900 per month each.
- Each unit includes a stove and refrigerator; tenants pay their own electric.
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
$10,830
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
7.79%
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%
$216,600
$216.6K
Cap Rate 7%
$154,714
$154.7K
Cap Rate 9%
$120,333
$120.3K
Market Conditions
NOI Build-Up for 1,600 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
$16.3K $10.20/SF
− Vacancy
−$849 −$0.53/SF
EGI
$15.5K $9.67/SF
− OpEx
−$4.6K −$2.90/SF
NOI
$10.8K $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 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%
$216,600
Cap Rate 7%
$154,714
Cap Rate 9%
$120,333
Alternative Uses
Best Use
Multifamily LT 5
$154.7K
$135.4K – $180.5K
NOI $10,830 @ 7.0% cap · market cap 7.79%
Second Best
Apartment 5plus
$143.3K
$125.4K – $167.2K
NOI $10,032 @ 7.0% cap · market cap 7.22%
Theoretical Best
Office A
$593.4K
$519.2K – $692.3K
NOI $41,535 @ 7.0% cap · market cap 29.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
312
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
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex offers two two-bedroom, one-bath units, each with stove and refrigerator, plus off-street parking and a full unfinished basement.
Where is this duplex located?
The property is located at 268 East Main Street Frostburg, MD.
What is the asking price?
The asking price for this property is $139,000.
What are key features of this property?
This property features: Income‑producing duplex with 2 units; each unit has 2 bedrooms and 1 full bath.; Both units are currently rented at $900 per month each.; Each unit includes a stove and refrigerator; tenants pay their own electric.
