Duplex with Updated
For Sale
$364,995
38 W Potomac St W, Williamsport, MD 21795
Two-unit property with one leased residence and a separate owner-occupied side.
Property Size2,400 SF
Lot Size0.14 Acres
Price / SF$152.08
Days on Market32
Property Features for 38 W Potomac St W
General Information
Standard status
Active
Size
2,400 SF
Lot size
0.14 Acres
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1878
Listing Agency:
Keller Williams Realty Advantage
(304) 671-2881
Listed By:
Megan E Pantalena · License #5022553
Source:
Localrealestateleaders
Added: Jul 30
Changed: Aug 29
Last Checked: Aug 29 at 5:27PM
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 Keller Williams Realty Advantage
Investment Insights
Based on property information with market context.
This two-unit residential property includes approximately 2,400 square feet on a level 0.14-acre lot. Built in 1878, the duplex is arranged with one residence under an annual lease and the other currently occupied by the owner. The spacious units provide a straightforward setup for continued rental use or partial owner occupancy.
Exterior and safety improvements include durable vinyl siding, added insulation, new gutters, updated roofing, and new smoke detectors. A metal roof was installed in 2015, with new shingle roofing added in 2024. The property is located at 38 W Potomac St W in Williamsport, Maryland.
Exterior and safety improvements include durable vinyl siding, added insulation, new gutters, updated roofing, and new smoke detectors. A metal roof was installed in 2015, with new shingle roofing added in 2024. The property is located at 38 W Potomac St W in Williamsport, Maryland.
Key Highlights
- Approximately 2,400 square feet on a level 0.14‑acre lot
- Duplex with one side leased annually and the other owner occupied
- Metal roof installed in 2015 and new shingle roofing added in 2024
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
$25,175
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
6.90%
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%
$503,500
$503.5K
Cap Rate 7%
$359,643
$359.6K
Cap Rate 9%
$279,722
$279.7K
Market Conditions
NOI Build-Up for 2,400 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
$38.9K $16.20/SF
− Vacancy
−$2.9K −$1.22/SF
EGI
$36.0K $14.99/SF
− OpEx
−$10.8K −$4.50/SF
NOI
$25.2K $10.49/SF
Area
Washington County, MD
Vacancy
7.50%
Lease Rate
$16.20 /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%
$503,500
Cap Rate 7%
$359,643
Cap Rate 9%
$279,722
Alternative Uses
Best Use
Multifamily LT 5
$359.6K
$314.7K – $419.6K
NOI $25,175 @ 7.0% cap · market cap 6.90%
Second Best
Apartment 5plus
$322.7K
$282.3K – $376.5K
NOI $22,587 @ 7.0% cap · market cap 6.19%
Theoretical Best
Office A
$532.4K
$465.8K – $621.1K
NOI $37,266 @ 7.0% cap · market cap 10.21%
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
201
Businesses Nearby
Explore this area
Business Placement
Demographics for 21795, MD
9,873
Population
4,308
Households
2.3
Avg Household Size
46
Median Age
26%
College-Educated
93%
High-School Grad
32.1 sq mi
ZIP Area
308
Density / Sq Mi
$83,542
Median Household Income
$44,040
Median Earnings
$1,190
Median Rent
$275,500
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 - Two-unit property with one leased residence and a separate owner-occupied side.
Where is this duplex located?
The property is located at 38 W Potomac St W Williamsport, MD.
What is the asking price?
The asking price for this property is $364,995.
What are key features of this property?
This property features: Approximately 2,400 square feet on a level 0.14‑acre lot; Duplex with one side leased annually and the other owner occupied; Metal roof installed in 2015 and new shingle roofing added in 2024
