Historic Triplex with
New
For Sale
$510,000
411 WASHINGTON ST, Cumberland, MD 21502
Late-1800s multifamily property with three apartments, separate electric meters, and additional basement space.
Property Size6,271 SF
Price / SF$81.33
Days on Market3
Property Features for 411 WASHINGTON ST
General Information
Standard status
Active
Size
6,271 SF
Total Parking Spaces
2
Property subtype
Multi-family
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
2 x 2BR/2BA, 1 x 1BR/1BA
Multifamily Units
3
Building Details
Buildings
1
Listing Agency:
Mountainside Home Realty
(301) 268-7504
Listed By:
Allyson M. Litten · License #666909
(301) 268-7504
Source:
Towncentermd
Added: Aug 30
Changed: Aug 31
Last Checked: Aug 31 at 5:11PM
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 Mountainside Home Realty
Investment Insights
Based on property information with market context.
This 6,271-square-foot triplex occupies a late-1800s residence within the Washington Street Historic District. The first-floor apartment includes two bedrooms, two bathrooms, formal living and dining rooms, a kitchen connected to a family room, and basement access. The second level contains a two-bedroom, two-bath apartment, while the top-floor unit has one bedroom and one bathroom. The upper layout may be reconfigured into two one-bedroom apartments, and the basement offers space for future finishing or storage.
Two one-car garages are located in the basement. The property sits on a large lot with room for a yard and off-street parking, and each apartment has its own electric meter. Electric baseboard heat serves the units. The home is at 411 Washington Street in Cumberland, minutes from Downtown Cumberland and I-68.
Two one-car garages are located in the basement. The property sits on a large lot with room for a yard and off-street parking, and each apartment has its own electric meter. Electric baseboard heat serves the units. The home is at 411 Washington Street in Cumberland, minutes from Downtown Cumberland and I-68.
Key Highlights
- 6,271‑square‑foot triplex at 411 Washington Street, Cumberland, MD 21502
- Three apartments: 2BR/2BA, 2BR/2BA, and 1BR/1BA
- Second‑floor layout could be converted into two separate 1BR apartments
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
$42,447
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
8.32%
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%
$848,940
$848.9K
Cap Rate 7%
$606,386
$606.4K
Cap Rate 9%
$471,633
$471.6K
Market Conditions
NOI Build-Up for 6,271 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
$64.0K $10.20/SF
− Vacancy
−$3.3K −$0.53/SF
EGI
$60.6K $9.67/SF
− OpEx
−$18.2K −$2.90/SF
NOI
$42.4K $6.77/SF
Area
Allegany County, MD
Vacancy
5.20%
Lease Rate
$10.20 /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%
$848,940
Cap Rate 7%
$606,386
Cap Rate 9%
$471,633
Alternative Uses
Best Use
Multifamily LT 5
$606.4K
$530.6K – $707.5K
NOI $42,447 @ 7.0% cap · market cap 8.32%
Second Best
Apartment 5plus
$561.7K
$491.5K – $655.3K
NOI $39,319 @ 7.0% cap · market cap 7.71%
Theoretical Best
Office A
$2.33M
$2.03M – $2.71M
NOI $162,793 @ 7.0% cap · market cap 31.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
981
Businesses Nearby
Explore this area
Business Placement
Demographics for 21502, MD
41,153
Population
19,562
Households
2.1
Avg Household Size
44
Median Age
20%
College-Educated
89%
High-School Grad
92.1 sq mi
ZIP Area
447
Density / Sq Mi
$58,721
Median Household Income
$39,507
Median Earnings
$771
Median Rent
$151,400
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?
Triplex - Late-1800s multifamily property with three apartments, separate electric meters, and additional basement space.
Where is this triplex located?
The property is located at 411 WASHINGTON ST Cumberland, MD.
What is the asking price?
The asking price for this property is $510,000.
What are key features of this property?
This property features: 6,271‑square‑foot triplex at 411 Washington Street, Cumberland, MD 21502; Three apartments: 2BR/2BA, 2BR/2BA, and 1BR/1BA; Second‑floor layout could be converted into two separate 1BR apartments
