Four-Unit Victorian
For Sale
$729,000
3108 UPSHUR Street, Mount Rainier, MD 20712
Multi-Family, MOUNT RAINIER, MD
Property Size2,430 SF
Lot Size0.15 Acres
Price / SF$300
Days on Market30
Property Features for 3108 UPSHUR Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking
2
Parking features
On Street, Driveway, Garage - Detached
Fireplace
1
Subdivision
MT RAINIER
Elementary school district
PRINCE GEORGE'S COUNTY PUBLIC SCHOOLS
Middle school district
PRINCE GEORGE'S COUNTY PUBLIC SCHOOLS
High school district
PRINCE GEORGE'S COUNTY PUBLIC SCHOOLS
Standard status
Active
Size
2,430 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Annual Amount
13769
Utilities
Heating system
Other (Heating)
Cooling system
Window Unit(s)
Amenities
front porch
rear porch
private backyard
shared laundry
workshop/storage building
Building Details
Year built
1913
Number of units
1
Building materials
Frame
Architectural style
Victorian
Listing Agency:
Samson Properties
(240) 630-8689
Listed By:
Lily Y. Chang · License #612051
(240) 938-6614
Added: Jul 29
Changed: Aug 24
Last Checked: Aug 27 at 2:06AM
MLS# MDPG2212194
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.
Built in 1913, this 2,430-square-foot Victorian multifamily building contains four apartments: one two-bedroom unit, two one-bedroom units, and one studio. The property includes a basement, front and rear porches, a private backyard, shared laundry, and a detached two-car garage, along with a separate workshop and storage building. Frame construction, window-unit cooling, and a fireplace are also present.
Capital improvements include a replacement boiler, new water heater, updated roof, replacement windows, electrical upgrades, exterior painting, selected interior work, and luxury vinyl plank flooring in Unit 1. Three apartments are leased for one-year terms, while the remaining unit is occupied month to month. The property sits on 0.1492 acres at 3108 Upshur Street in Mount Rainier, near Washington, DC, the Arts District, shopping, restaurants, parks, public transportation, and major commuter routes.
Capital improvements include a replacement boiler, new water heater, updated roof, replacement windows, electrical upgrades, exterior painting, selected interior work, and luxury vinyl plank flooring in Unit 1. Three apartments are leased for one-year terms, while the remaining unit is occupied month to month. The property sits on 0.1492 acres at 3108 Upshur Street in Mount Rainier, near Washington, DC, the Arts District, shopping, restaurants, parks, public transportation, and major commuter routes.
Key Highlights
- Four apartments with one 2‑bedroom, two 1‑bedroom, and one studio unit
- 2,430 square feet on a 0.1492‑acre lot
- Three one‑year leases plus one month‑to‑month tenancy
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
$35,308
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
4.84%
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%
$706,160
$706.2K
Cap Rate 7%
$504,400
$504.4K
Cap Rate 9%
$392,311
$392.3K
Market Conditions
NOI Build-Up for 2,430 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
$53.9K $22.20/SF
− Vacancy
−$3.5K −$1.44/SF
EGI
$50.4K $20.76/SF
− OpEx
−$15.1K −$6.23/SF
NOI
$35.3K $14.53/SF
Area
Prince George's County, MD
Vacancy
6.50%
Lease Rate
$22.20 /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%
$706,160
Cap Rate 7%
$504,400
Cap Rate 9%
$392,311
Alternative Uses
Best Use
Multifamily LT 5
$504.4K
$441.4K – $588.5K
NOI $35,308 @ 7.0% cap · market cap 4.84%
Second Best
Apartment 5plus
$467.3K
$408.9K – $545.2K
NOI $32,714 @ 7.0% cap · market cap 4.49%
Theoretical Best
Specialty Retail
$783.9K
$685.9K – $914.6K
NOI $54,874 @ 7.0% cap · market cap 7.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
837
Businesses Nearby
Explore this area
Business Placement
Demographics for 20712, MD
9,526
Population
4,271
Households
2.2
Avg Household Size
35
Median Age
34%
College-Educated
83%
High-School Grad
0.7 sq mi
ZIP Area
13,609
Density / Sq Mi
$68,452
Median Household Income
$42,881
Median Earnings
$1,442
Median Rent
$531,100
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?
Quadplex - Well-maintained multifamily asset with varied apartment layouts, shared laundry, porches, and detached garage parking.
Where is this quadplex located?
The property is located at 3108 UPSHUR Street Mount Rainier, MD.
What is the asking price?
The asking price for this property is $729,000.
What are key features of this property?
This property features: Four apartments with one 2‑bedroom, two 1‑bedroom, and one studio unit; 2,430 square feet on a 0.1492‑acre lot; Three one‑year leases plus one month‑to‑month tenancy
