Listing Agency: LPT Realty, LLC Show Phone

Listed By: Joseph A Lingenfelter Show Phone

Source: Imanirealtors

Added: Oct 14 Changed: Oct 15 Last Checked: Oct 15 at 1:58AM

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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 LPT Realty, LLC

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Investment Insights

Based on property information with market context.

This 1,091-square-foot duplex in Parkville has a ground-floor space with a full kitchen, full bathroom, and entrances at the road and rear. The upper level is configured for use as a one-bedroom apartment or business. The ground floor may also serve as a residence or professional business space, with the option to create two bedrooms. Units are separately metered.

Located at 3203 E Joppa Rd, the property has road frontage and parking for 10 vehicles. Residential and commercial zoning is stated. Recent improvements include HVAC units, a roof, and siding.

Key Highlights

• 1,091‑square‑foot duplex with two levels
• Ground‑floor unit has a full kitchen, full bathroom, and road and rear entrances
• Upper level accommodates a one‑bedroom apartment or business use

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$15,346

Cap Rate

4.38%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$306,920 $306.9K

Cap Rate 7%

$219,229 $219.2K

Cap Rate 9%

$170,511 $170.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,091 SF

Gross rent

$29.2K $26.76/SF

− Vacancy

−$4.6K −$4.25/SF

EGI

$24.6K $22.51/SF

− OpEx

−$9.2K −$8.44/SF

NOI

$15.3K $14.07/SF

Area

Baltimore County, MD

Vacancy

15.90%

Lease Rate

$26.76 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$306,920

Cap Rate 7%

$219,229

Cap Rate 9%

$170,511

Alternative Uses

Best Use

Multifamily LT 5

$10.58M

$9.26M – $12.35M (±1% cap)

NOI $740,939 @ 7.0% cap · market cap 211.70%

Second Best

Apartment 5plus

$9.20M

$8.05M – $10.73M (±1% cap)

NOI $643,961 @ 7.0% cap · market cap 183.99%

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Law Firm Dental Office Restaurant Spa & Massage Center Building Supply Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

928

Businesses Nearby

Explore this area Business Placement

Demographics for 21234, MD

67,308

Population

29,575

Households

2.3

Avg Household Size

40

Median Age

36%

College-Educated

93%

High-School Grad

13.4 sq mi

ZIP Area

5,023

Density / Sq Mi

$83,139

Median Household Income

$52,260

Median Earnings

$1,542

Median Rent

$276,000

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Separate metering and parking for 10 vehicles support the property’s two-level configuration.

Where is this duplex located?

The property is located at 3203 E JOPPA RD Parkville, MD.

What is the asking price?

The asking price for this property is $350,000.

What are key features of this property?

This property features: 1,091‑square‑foot duplex with two levels; Ground‑floor unit has a full kitchen, full bathroom, and road and rear entrances; Upper level accommodates a one‑bedroom apartment or business use