Three-Unit Colonial
New
For Sale
$345,000
3245 LONG Lane, Manchester, MD 21102
MULTI_FAMILY - Colonial - MANCHESTER, MD
Property Size2,400 SF
Lot Size0.36 Acres
Price / SF$143.75
Days on Market4
Property Features for 3245 LONG Lane
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Parking
8
Parking features
Driveway, Parking Lot
Interior features
Primary Bath(s), Kitchen - Eat-In
Appliances
Stove, Refrigerator, Washer, Dryer
Elementary school district
CARROLL COUNTY PUBLIC SCHOOLS
Middle school district
CARROLL COUNTY PUBLIC SCHOOLS
High school district
CARROLL COUNTY PUBLIC SCHOOLS
Standard status
Active
Size
2,400 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Annual Amount
3004
Utilities
Heating system
Hot Water(Heating)
Cooling system
Wall Unit(s)
Amenities
private balconies
private patio
shared laundry room
large yard
covered porch
Building Details
Year built
1950
Number of units
3
Building materials
Aluminum Siding
Architectural style
Colonial
Listing Agency:
Cummings & Co. Realtors
(410) 823-0033
Listed By:
Mary Beth E. Swidersky · License #574732
(410) 804-7344
Added: Aug 6
Changed: Aug 8
Last Checked: Aug 9 at 12:06AM
MLS# MDCR2036724
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.
This Colonial multifamily property contains three apartments totaling 2,400 square feet across two levels. The unit mix includes two approximately 600-square-foot one-bedroom apartments and one approximately 800-square-foot two-bedroom apartment. Each residence has a kitchen, living area, full bath, and flexible bonus room. Two upper-floor units have private balconies, while the lower apartment connects to a private patio. A shared laundry room, paved parking area, large yard, covered porch, and additional patio complete the property. Appliances include stoves, refrigerators, a washer, and a dryer. The building uses hot-water heat and wall-unit cooling, with aluminum siding and a 1950 construction date.
The property is one block from Manchester’s 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. The property includes a Maryland Department of the Environment Lead-Free Certificate, a 2026 water heater, and newer electric meters. Current leases extend through October 31, 2026.
The property is one block from Manchester’s 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. The property includes a Maryland Department of the Environment Lead-Free Certificate, a 2026 water heater, and newer electric meters. Current leases extend through October 31, 2026.
Key Highlights
- Three apartments totaling 2,400 square feet, including two 1‑bedroom units and one 2‑bedroom unit
- 0.3576‑acre lot with a large yard, covered porch, private patios and balconies
- Paved side parking area with driveway and parking lot spaces
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
$31,190
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
9.04%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
259
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Fully occupied apartments with off-street parking, private outdoor spaces, and established tenant history.
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 apartments totaling 2,400 square feet, including two 1‑bedroom units and one 2‑bedroom unit; 0.3576‑acre lot with a large yard, covered porch, private patios and balconies; Paved side parking area with driveway and parking lot spaces
