Triplex with Off-Street
For Sale
Under Contract
$450,000
3501 RHODE ISLAND Avenue, Mount Rainier, MD 20712
Multi-Family, MOUNT RAINIER, MD
Property Size2,029 SF
Lot Size0.12 Acres
Price / SF$221.78
Days on Market288
Property Features for 3501 RHODE ISLAND Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Parking
3
Parking features
Off Street
Fireplace
1
High school
NORTHWESTERN
Elementary school district
PRINCE GEORGE'S COUNTY PUBLIC SCHOOLS
Middle school district
PRINCE GEORGE'S COUNTY PUBLIC SCHOOLS
High school district
PRINCE GEORGE'S COUNTY PUBLIC SCHOOLS
Standard status
Active Under Contract
Size
2,029 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Annual Amount
9577
Utilities
Heating system
Electric (Heating), Baseboard
Amenities
off-street parking
shared laundry
private deck
Building Details
Year built
1918
Number of units
3
Building materials
Combination
Architectural style
Other
Listing Agency:
Samson Properties
(202) 938-0228
Listed By:
Karla A. Rhodes · License #576576
(443) 629-1400
Added: Nov 29, 2025
Changed: Aug 19
Last Checked: Sep 13 at 8:06AM
MLS# MDPG2184380
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 2,029-square-foot triplex, built in 1918, includes two 2BR/1BA residences and one efficiency unit. Two units are occupied, while the remaining unit is vacant. The property includes shared laundry, off-street parking, and a private deck serving one unit. Electric baseboard heating and a fireplace are also present.
The property sits on a 0.1233-acre parcel at 3501 Rhode Island Avenue in Mount Rainier, Maryland. Transit access includes a location 2 miles from the Redline and 3.8 miles from the Green line. College Park University is 3.6 miles away, and the bus depot is nearby. Tenant showings require 24 hours’ notice.
The property sits on a 0.1233-acre parcel at 3501 Rhode Island Avenue in Mount Rainier, Maryland. Transit access includes a location 2 miles from the Redline and 3.8 miles from the Green line. College Park University is 3.6 miles away, and the bus depot is nearby. Tenant showings require 24 hours’ notice.
Key Highlights
- Triplex configuration with two 2BR/1BA units and one efficiency
- 2,029 square feet on a 0.1233‑acre lot
- Two units occupied; one unit vacant
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
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Open Analytics
Current Use
Lease Details
3
Residential units
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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential property with shared laundry, a private deck, and one vacant unit available for occupancy or leasing.
Where is this triplex located?
The property is located at 3501 RHODE ISLAND Avenue 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: Triplex configuration with two 2BR/1BA units and one efficiency; 2,029 square feet on a 0.1233‑acre lot; Two units occupied; one unit vacant
