Three-Unit Multifamily
3245 LONG LANE, Manchester, MD 21102
For Sale
$345,000
Pending
Fully occupied apartments offer established tenancy, private outdoor areas, and paved off-street parking near Main Street.
Property Size2,400 SF
Days on Market101
Property Features for 3245 LONG LANE
General Information
Standard status
Size
Property subtype
Occupancy
Units
Unit Mix
Multifamily Units
Amenities
yard
patio
covered porch
off-street parking
private balconies
shared laundry room
Building Details
Year Built
Buildings
Stories
Tenancy
Listing Agency:
Cummings & Co. Realtors
(410) 823-0033
Listed By:
Mary Beth E. Swidersky · License MD #574732
(410) 804-7344
Source:
Cummingsrealtors
Added: Aug 6
Changed: Nov 12
Last Checked: Nov 12 at 7:18AM
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 Cummings & Co. Realtors
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Investment Insights
Based on property information with market context.
This three-unit property contains approximately 2,400 square feet of living space across two levels. The unit mix includes two one-bedroom apartments of approximately 600 square feet each and one two-bedroom apartment of approximately 800 square feet. Each residence includes a kitchen, living room, full bathroom, and additional flex room. Two upper-level units have private balconies, while the lower-level apartment provides direct access to a private patio. A shared laundry room serves one unit.
All three apartments are occupied, with tenants in place for more than nine years. Current leases extend through October 31, 2026. The property also offers a large yard and paved side parking area. Recent maintenance includes a new water heater installed in 2026 and newer electric meters. The sale includes a Maryland Department of the Environment Lead-Free Certificate. Located at 3245 LONG Ln in Manchester, the property is one block from Main Street and within walking distance of shops, restaurants, and local conveniences.
All three apartments are occupied, with tenants in place for more than nine years. Current leases extend through October 31, 2026. The property also offers a large yard and paved side parking area. Recent maintenance includes a new water heater installed in 2026 and newer electric meters. The sale includes a Maryland Department of the Environment Lead-Free Certificate. Located at 3245 LONG Ln in Manchester, the property is one block from Main Street and within walking distance of shops, restaurants, and local conveniences.
Key Highlights
- Three occupied apartments: two approximately 600‑square‑foot one‑bedroom units and one approximately 800‑square‑foot two‑bedroom unit
- Approximately 2,400 square feet across two levels on a spacious lot
- Tenants have occupied the units for more than nine years; current leases run through October 31, 2026
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,190
Cap Rate
9.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$623,800
$623.8K
Cap Rate 7%
$445,571
$445.6K
Cap Rate 9%
$346,556
$346.6K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$46.7K $19.44/SF
− Vacancy
−$2.1K −$0.87/SF
EGI
$44.6K $18.57/SF
− OpEx
−$13.4K −$5.57/SF
NOI
$31.2K $13.00/SF
Area
Carroll County, MD
Vacancy
4.50%
Lease Rate
$19.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$623,800
Cap Rate 7%
$445,571
Cap Rate 9%
$346,556
Alternative Uses
Best Use
Multifamily LT 5
$445.6K
$389.9K – $519.8K
NOI $31,190 @ 7.0% cap · market cap 9.04%
Second Best
Apartment 5plus
$384.9K
$336.8K – $449.1K
NOI $26,944 @ 7.0% cap · market cap 7.81%
Theoretical Best
Office A
$890.0K
$778.8K – $1.04M
NOI $62,303 @ 7.0% cap · market cap 18.06%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
259
Businesses Nearby
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Business Placement
Demographics for 21102, MD
12,100
Population
4,513
Households
2.7
Avg Household Size
43
Median Age
32%
College-Educated
98%
High-School Grad
40.6 sq mi
ZIP Area
298
Density / Sq Mi
$119,535
Median Household Income
$58,900
Median Earnings
$1,498
Median Rent
$374,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Fully occupied apartments offer established tenancy, private outdoor areas, and paved off-street parking near Main Street.
Where is this triplex located?
The property is located at 3245 LONG LANE Manchester, MD.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Three occupied apartments: two approximately 600‑square‑foot one‑bedroom units and one approximately 800‑square‑foot two‑bedroom unit; Approximately 2,400 square feet across two levels on a spacious lot; Tenants have occupied the units for more than nine years; current leases run through October 31, 2026
