4-Unit Multifamily
New
For Sale
$499,000
302 BUENA VISTA DRIVE, Westminster, MD 21157
Two separate buildings include varied apartment layouts, a guest house, and a recently added pool.
Property Size2,165 SF
Price / SF$230.48
Days on Market5
Property Features for 302 BUENA VISTA DRIVE
General Information
Standard status
Active
Size
2,165 SF
Property subtype
Quadruplex
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA, 1 x 2BR/1BA, 1 x 1BR/2BA
Multifamily Units
4
Amenities
pool
Building Details
Year Built
1954
Buildings
2
Listing Agency:
RE/MAX Realty Centre, Inc.
(301) 591-3920
Listed By:
Molly Love · License #652519
(240) 397-4109
Source:
Cummingsrealtors
Added: Oct 17
Changed: Oct 19
Last Checked: Oct 19 at 6:46AM
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 RE/MAX Realty Centre, Inc.
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Investment Insights
Based on property information with market context.
This 1954 multifamily property comprises two buildings with four total units. The main building contains three apartments: a two-bedroom unit with an eat-in kitchen and full bathroom; an efficiency with a bedroom, living room, eat-in kitchen, and full bathroom; and an upstairs apartment with two bedrooms, a bonus room or office, family room, eat-in kitchen, full bathroom, and walk-in storage. A separate guest house adds the fourth unit, with a garage/workshop, family room, eat-in kitchen, and full bathroom on the ground floor, plus an upstairs bedroom and another full bathroom.
A pool was added one year ago, and the roof is less than four years old. The property was built in 1954 and is located in Westminster, Maryland. WalkScore is 56, BikeScore is 24, and TransitScore is 15.
A pool was added one year ago, and the roof is less than four years old. The property was built in 1954 and is located in Westminster, Maryland. WalkScore is 56, BikeScore is 24, and TransitScore is 15.
Key Highlights
- Four rental units across two buildings
- Main residence contains three apartments with distinct layouts
- Separate guest house has a garage/workshop and two levels of living space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,306
Cap Rate
4.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$486,120
$486.1K
Cap Rate 7%
$347,229
$347.2K
Cap Rate 9%
$270,067
$270.1K
Market Conditions
NOI Build-Up for 2,165 SF
Gross rent
$46.8K $21.60/SF
− Vacancy
−$2.6K −$1.19/SF
EGI
$44.2K $20.41/SF
− OpEx
−$19.9K −$9.19/SF
NOI
$24.3K $11.23/SF
Area
Carroll County, MD
Vacancy
5.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$486,120
Cap Rate 7%
$347,229
Cap Rate 9%
$270,067
Alternative Uses
Best Use
Apartment 5plus
$347.2K
$303.8K – $405.1K
NOI $24,306 @ 7.0% cap · market cap 4.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$802.9K
$702.5K – $936.7K
NOI $56,203 @ 7.0% cap · market cap 11.26%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,969
Businesses Nearby
Explore this area
Business Placement
Demographics for 21157, MD
38,584
Population
15,466
Households
2.5
Avg Household Size
42
Median Age
37%
College-Educated
93%
High-School Grad
77.7 sq mi
ZIP Area
497
Density / Sq Mi
$102,835
Median Household Income
$50,254
Median Earnings
$1,236
Median Rent
$394,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two separate buildings include varied apartment layouts, a guest house, and a recently added pool.
Where is this multifamily property located?
The property is located at 302 BUENA VISTA DRIVE Westminster, MD.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Four rental units across two buildings; Main residence contains three apartments with distinct layouts; Separate guest house has a garage/workshop and two levels of living space
