6-Unit Apartment
400 WALNUT Street, Westernport, MD 21562
For Sale
$289,900
Multi-Family, WESTERNPORT, MD
Property Size2,256 SF
Lot Size0.04 Acres
Price / SF$128.50
Days on Market15
Property Features for 400 WALNUT Street
General Information
Property type
Property subtype
Rooms
Parking features
Elementary school district
Middle school district
High school district
Standard status
Size
Lot size
Additional Details
Individually Metered Utilities
Taxes and HOA fees
Tax Annual Amount
Utilities
Heating system
Amenities
laundry room
storage units
camera system
exterior lighting
Building Details
Year built
Number of units
Building materials
Buildings
Listing Agency:
Mackintosh , Inc.
(301) 790-1700
Listed By:
Jason L Hose · License MD #535549
(301) 491-2625
Added: Oct 30
Changed: Nov 10
Last Checked: Nov 13 at 11:06PM
MLS# MDAL2016270
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.
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Investment Insights
Based on property information with market context.
This 2,256-square-foot brick apartment building, constructed in 1949, contains six units: two efficiencies and four one-bedroom apartments. Improvements include replacement plumbing and electrical systems, 200-amp service for the house panel, GFI protection where required, new entry doors, kitchen cabinets, and fresh paint. Basement work includes spray-foam insulation along the exterior walls and band, a laundry room with two coin-operated washers and two coin-operated dryers, and six lockable storage compartments measuring 6 by 8 feet. A camera system covers the entrances, with LED motion lighting in common areas and exterior lighting. Heating is electric baseboard, and parking is on the street.
Key Highlights
- Six apartments: two efficiencies and four one‑bedroom units
- 2,256 square feet in a brick building constructed in 1949
- Replacement plumbing and electrical systems; 200‑amp house‑panel service
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,145
Cap Rate
4.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$282,900
$282.9K
Cap Rate 7%
$202,071
$202.1K
Cap Rate 9%
$157,167
$157.2K
Market Conditions
NOI Build-Up for 2,256 SF
Gross rent
$27.1K $12.00/SF
− Vacancy
−$1.4K −$0.60/SF
EGI
$25.7K $11.40/SF
− OpEx
−$11.6K −$5.13/SF
NOI
$14.1K $6.27/SF
Area
Allegany County, MD
Vacancy
5.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$282,900
Cap Rate 7%
$202,071
Cap Rate 9%
$157,167
Alternative Uses
Best Use
Apartment 5plus
$202.1K
$176.8K – $235.8K
NOI $14,145 @ 7.0% cap · market cap 4.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$836.6K
$732.1K – $976.1K
NOI $58,565 @ 7.0% cap · market cap 20.20%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
150
Businesses Nearby
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Business Placement
Demographics for 21562, MD
2,857
Population
1,517
Households
1.9
Avg Household Size
45
Median Age
14%
College-Educated
92%
High-School Grad
28.9 sq mi
ZIP Area
99
Density / Sq Mi
$53,056
Median Household Income
$32,825
Median Earnings
$461
Median Rent
$113,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Basement laundry and secure storage serve a six-apartment property with upgraded building systems.
Where is this apartment building located?
The property is located at 400 WALNUT Street Westernport, MD.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: Six apartments: two efficiencies and four one‑bedroom units; 2,256 square feet in a brick building constructed in 1949; Replacement plumbing and electrical systems; 200‑amp house‑panel service
