Income-Producing Triplex Near
For Sale
$450,000
3501 Rhode Island Ave, Mount Rainier, MD 20712
Spacious triplex with flexible rental options near transportation.
Property Size2,029 SF
Price / SF$221.78
Days on Market211
Property Features for 3501 Rhode Island Ave
General Information
Standard status
Active
Size
2,029 SF
Property subtype
Multi-Family
Building Details
Year Built
1918
Listing Agency:
Samson Properties
Listed By:
Karla A. Rhodes · License #576576
(301) 459-5040
Source:
Danmarpropertiesgroup
Added: Mar 10
Changed: Sep 23
Last Checked: Oct 5 at 11:04PM
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 Samson Properties
Investment Insights
Based on property information with market context.
This income-producing triplex is located minutes from the Metro and steps from the bus depot. The property includes two 2-bedroom, 1-bathroom units and one efficiency. The units offer flexible rental or owner-occupant options. Two units are currently occupied, and one is vacant and ready for immediate move-in or market-rate leasing. Residents have access to off-street parking and shared laundry facilities. One of the units features a private deck. The property offers strong potential for expanding an investment portfolio or for an owner to live in one unit while renting out the others. The owner is also selling the neighboring property at 3505 Rhode Island Ave, and both properties can be purchased together.
Key Highlights
- Income‑producing triplex featuring two 2BR/1BA units and one efficiency.
- Convenient location: minutes from the Metro and steps from the bus depot.
- Flexible options: ideal for rental income or owner‑occupancy.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,481
Cap Rate
6.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$589,620
$589.6K
Cap Rate 7%
$421,157
$421.2K
Cap Rate 9%
$327,567
$327.6K
Market Conditions
NOI Build-Up for 2,029 SF
Gross rent
$45.0K $22.20/SF
− Vacancy
−$2.9K −$1.44/SF
EGI
$42.1K $20.76/SF
− OpEx
−$12.6K −$6.23/SF
NOI
$29.5K $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 Rate 5%
$589,620
Cap Rate 7%
$421,157
Cap Rate 9%
$327,567
Alternative Uses
Best Use
Multifamily LT 5
$421.2K
$368.5K – $491.4K
NOI $29,481 @ 7.0% cap · market cap 6.55%
Second Best
Apartment 5plus
$390.2K
$341.5K – $455.3K
NOI $27,316 @ 7.0% cap · market cap 6.07%
Theoretical Best
Specialty Retail
$654.5K
$572.7K – $763.6K
NOI $45,818 @ 7.0% cap · market cap 10.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
929
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Spacious triplex with flexible rental options near transportation.
Where is this triplex located?
The property is located at 3501 Rhode Island Ave Mount Rainier, MD.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Income‑producing triplex featuring two 2BR/1BA units and one efficiency.; Convenient location: minutes from the Metro and steps from the bus depot.; Flexible options: ideal for rental income or owner‑occupancy.
