Updated Duplex with Spacious
For Sale
$353,995
38 W POTOMAC Street W, Williamsport, MD 21795
Multi-Family, WILLIAMSPORT, MD
Property Size2,400 SF
Lot Size0.14 Acres
Price / SF$147.50
Days on Market74
Property Features for 38 W POTOMAC Street W
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking features
On Street
Interior features
Window Treatments
Appliances
Refrigerator, Stove
Subdivision
NONE AVAILABLE
High school
WILLIAMSPORT
Elementary school district
WASHINGTON COUNTY PUBLIC SCHOOLS
Middle school district
WASHINGTON COUNTY PUBLIC SCHOOLS
High school district
WASHINGTON COUNTY PUBLIC SCHOOLS
Standard status
Active
Size
2,400 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
2298
Utilities
Heating system
Electric (Heating), Baseboard
Cooling system
Window Unit(s)
Building Details
Year built
1878
Number of units
2
Building materials
Vinyl Siding
Listing Agency:
Keller Williams Realty Advantage
(304) 901-4886
Listed By:
Megan E Pantalena · License #5022553
(304) 671-2881
Added: Jul 4
Changed: Sep 4
Last Checked: Sep 15 at 5:06AM
MLS# MDWA2037498
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 approximately 2,400-square-foot duplex is arranged as two spacious units on a level 0.1399-acre lot. One unit is occupied under an annual lease, while the other is owner occupied. The property was built in 1878 and includes a basement, vinyl siding, electric baseboard heat, window-unit cooling, refrigerators, stoves, and window treatments. On-street parking is available.
Exterior updates include a metal roof installed in 2015, new shingle roofing in 2024, new gutters, added insulation, and updated siding. New smoke detectors have also been installed. Located on W Potomac Street in Williamsport, Maryland, the property offers a duplex configuration with an existing rental arrangement and separate owner occupancy.
Exterior updates include a metal roof installed in 2015, new shingle roofing in 2024, new gutters, added insulation, and updated siding. New smoke detectors have also been installed. Located on W Potomac Street in Williamsport, Maryland, the property offers a duplex configuration with an existing rental arrangement and separate owner occupancy.
Key Highlights
- Two‑unit duplex with approximately 2,400 square feet
- One side leased annually; the second unit is owner occupied
- Level 0.1399‑acre lot with a basement and on‑street parking
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
7.11%
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 7.11%
Second Best
Apartment 5plus
$322.7K
$282.3K – $376.5K
NOI $22,587 @ 7.0% cap · market cap 6.38%
Theoretical Best
Office A
$532.4K
$465.8K – $621.1K
NOI $37,266 @ 7.0% cap · market cap 10.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
298
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with one leased side and an owner-occupied unit, plus recent exterior improvements.
Where is this duplex located?
The property is located at 38 W POTOMAC Street W Williamsport, MD.
What is the asking price?
The asking price for this property is $353,995.
What are key features of this property?
This property features: Two‑unit duplex with approximately 2,400 square feet; One side leased annually; the second unit is owner occupied; Level 0.1399‑acre lot with a basement and on‑street parking
