Duplex with Detached
New
For Sale
$275,000
359 OLD BAYVIEW Road, North East, MD 21901
Multi-Family, NORTH EAST, MD
Property Size2,560 SF
Lot Size0.46 Acres
Price / SF$107.42
Days on Market1
Property Features for 359 OLD BAYVIEW Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Family Room
Parking features
On Street
Interior features
Ceiling Fan(s), Entry Level Bedroom, Family Room Off Kitchen
Subdivision
NONE AVAILABLE
Elementary school district
CECIL COUNTY PUBLIC SCHOOLS
Middle school district
CECIL COUNTY PUBLIC SCHOOLS
High school district
CECIL COUNTY PUBLIC SCHOOLS
Standard status
Active
Size
2,560 SF
Lot size
0.46 Acres
Taxes and HOA fees
Tax Annual Amount
2120
Utilities
Heating system
Forced Air
Amenities
covered front porch
spacious yard
detached shed
garage
Building Details
Year built
1900
Number of units
1
Building materials
Vinyl Siding
Listing Agency:
Cummings & Co Realtors
(410) 823-0033
Listed By:
Robert Bollack · License #660828
(443) 299-7994
Added: Sep 2
Last Checked: Sep 2 at 7:06AM
MLS# MDCC2022856
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 2560-square-foot duplex contains two 3-bedroom, 1-bath residences, each with its own entrance. The property sits on 0.46 acres and was built in 1900, with vinyl siding, family rooms adjoining the kitchens, entry-level bedrooms, and ceiling fans. Unit 1 is vacant and includes A/C, electric heat, recent interior paint, and a water heater installed in 2026. Unit 2 was updated in 2025 with fresh interior paint, new carpet, and new LVP flooring; it does not have central A/C.
Outdoor features include a covered front porch, a spacious yard, and a detached shed with separate storage access for each residence. A small 1-bay garage provides additional storage and is currently used by the owner. Unit 2 is occupied under a lease running through March 2027, while Unit 1 is available for occupancy. The property is located on Old Bayview Road in North East, Maryland, with on-street parking.
Outdoor features include a covered front porch, a spacious yard, and a detached shed with separate storage access for each residence. A small 1-bay garage provides additional storage and is currently used by the owner. Unit 2 is occupied under a lease running through March 2027, while Unit 1 is available for occupancy. The property is located on Old Bayview Road in North East, Maryland, with on-street parking.
Key Highlights
- Two 3‑bedroom, 1‑bath units within a 2560‑square‑foot duplex
- Unit 2 leased through March 2027; Unit 1 is vacant
- 0.46‑acre property with a covered front porch and spacious yard
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
$22,433
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
8.16%
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%
$448,660
$448.7K
Cap Rate 7%
$320,471
$320.5K
Cap Rate 9%
$249,256
$249.3K
Market Conditions
NOI Build-Up for 2,560 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
$43.6K $17.04/SF
− Vacancy
−$2.8K −$1.11/SF
EGI
$40.8K $15.93/SF
− OpEx
−$18.4K −$7.17/SF
NOI
$22.4K $8.76/SF
Area
Cecil County, MD
Vacancy
6.50%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
45.00%
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%
$448,660
Cap Rate 7%
$320,471
Cap Rate 9%
$249,256
Alternative Uses
Best Use
Multifamily LT 5
$363.7K
$318.3K – $424.4K
NOI $25,461 @ 7.0% cap · market cap 9.26%
Second Best
Apartment 5plus
$320.5K
$280.4K – $373.9K
NOI $22,433 @ 7.0% cap · market cap 8.16%
Theoretical Best
Office A
$949.4K
$830.7K – $1.11M
NOI $66,457 @ 7.0% cap · market cap 24.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
76
Businesses Nearby
Explore this area
Business Placement
Demographics for 21901, MD
18,517
Population
7,952
Households
2.3
Avg Household Size
38
Median Age
33%
College-Educated
93%
High-School Grad
48.5 sq mi
ZIP Area
382
Density / Sq Mi
$113,107
Median Household Income
$61,293
Median Earnings
$1,418
Median Rent
$342,800
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?
Duplex - One residence is vacant, while the other carries a lease through March 2027.
Where is this duplex located?
The property is located at 359 OLD BAYVIEW Road North East, MD.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Two 3‑bedroom, 1‑bath units within a 2560‑square‑foot duplex; Unit 2 leased through March 2027; Unit 1 is vacant; 0.46‑acre property with a covered front porch and spacious yard
