Income-Producing Triplex Near
For Sale
$450,000
Pending
3501 RHODE ISLAND Ave, Mount Rainier, MD 20712
Spacious triplex with flexible rental options near transportation.
Property Size2,029 SF
Lot Size0.12 Acres
Days on Market165
Property Features for 3501 RHODE ISLAND Ave
General Information
Standard status
Pending
Size
2,029 SF
Lot size
0.12 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$9,577
Building Details
Building Size
2,029 SF
Year Built
1918
Units
3
Listing Agency:
Samson Properties
(443) 629-1400
Listed By:
Karla A. Rhodes · License #576576
(443) 629-1400
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Jul 27 at 10:57AM
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 = 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
$29,481
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
6.55%
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%
$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
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
$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 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%
$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
Property Profile
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
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 - 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.
