Income-Producing Triplex Near
3501 RHODE ISLAND Avenue Mount Rainier, MD 20712
For Sale
Under Contract
$450,000
MULTI_FAMILY - Other - MOUNT RAINIER, MD
Property Size2,029 SF
Lot Size0.12 Acres
Price / SF$221.78
Days on Market243
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
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
Baseboard, Electric (Heating)
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: Jul 25
Last Checked: Jul 30 at 12:06AM
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 income-producing triplex is located minutes from the Metro and steps from the bus depot. The property contains two 2-bedroom, 1-bathroom units and one efficiency. The property provides options for rental or owner-occupancy. Two units are currently occupied, and one is vacant. Residents have access to off-street parking and shared laundry facilities. One of the units includes a private deck. The property is located 2 miles from the Redline, 3.8 miles from the Green Line, and 3.6 miles from College Park University. The property is situated on a lot of 0.1233 acres and has a size of 2029 square feet.
Key Highlights
- Income‑producing triplex built in 1918 with combination construction materials and off‑street parking
- Unit mix includes two 2BR/1BA units and one efficiency unit
- Two units currently occupied; one unit is vacant and ready for immediate move‑in or market‑rate leasing
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $45.0k | $22.20 |
| − Vacancy | −$2.9k | −$1.44 |
| EGI | $42.1k | $20.76 |
| − OpEx | −$12.6k | −$6.23 |
| NOI | $29.5k | $14.53 |
2,029 SF · lease $22.20/SF/yr · vacancy 6.50% · expense 30.00%
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
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Triplex - Spacious triplex near Metro with flexible rental options.
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: Income‑producing triplex built in 1918 with combination construction materials and off‑street parking; Unit mix includes two 2BR/1BA units and one efficiency unit; Two units currently occupied; one unit is vacant and ready for immediate move‑in or market‑rate leasing
