Historic Triplex with Basement
For Sale
$510,000
411 WASHINGTON Street, Cumberland, MD 21502
MULTI_FAMILY - Victorian - CUMBERLAND, MD
Property Size6,271 SF
Lot Size0.26 Acres
Price / SF$81.33
Days on Market46
Property Features for 411 WASHINGTON Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Parking
2
Parking features
On Street, Off Street, Garage - Attached
Elementary school district
ALLEGANY COUNTY PUBLIC SCHOOLS
Middle school district
ALLEGANY COUNTY PUBLIC SCHOOLS
High school district
ALLEGANY COUNTY PUBLIC SCHOOLS
Standard status
Active
Size
6,271 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Annual Amount
5863
Utilities
Heating system
Baseboard, Electric (Heating)
Building Details
Year built
1900
Number of units
4
Building materials
Brick
Architectural style
Victorian
Listing Agency:
Mountainside Home Realty
(301) 722-0190
Listed By:
Allyson M. Litten · License #666909
(301) 268-7504
Added: Jul 9
Changed: Aug 11
Last Checked: Aug 23 at 10:06PM
MLS# MDAL2015240
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.
Located at 411 Washington Street in Cumberland, this circa late-1800s triplex provides three separate apartment units within one residential structure. The main-level apartment includes a formal living room, formal dining room, two bedrooms, two bathrooms, and a spacious kitchen open to the family room, with access to the basement. The second-floor apartment is an oversized two-bedroom, two-bathroom layout that could be converted back into two separate one-bedroom apartments. The third-floor unit offers one bedroom and one bathroom. Each unit has separate electric meters, and the property is heated by electric baseboard heat.
The basement includes two one-car garages and offers space that could be finished for additional living or storage. Set on a large lot, the property provides room for a yard and off-street parking. It’s described as being in the heart of the Washington Street Historic District, with convenient access to Downtown Cumberland and I-68.
The basement includes two one-car garages and offers space that could be finished for additional living or storage. Set on a large lot, the property provides room for a yard and off-street parking. It’s described as being in the heart of the Washington Street Historic District, with convenient access to Downtown Cumberland and I-68.
Key Highlights
- Brick Victorian multi‑family home with separate electric meters for each unit
- Main‑level unit: formal living and dining rooms, 2 bedrooms, 2 bathrooms, spacious kitchen, family room access to basement
- Second‑floor unit: oversized 2‑bedroom, 2‑bath layout with potential to convert back to two 1‑bedroom 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
Yes
Utilities to site
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 triplex with three apartments, separate electric meters, and two one-car garages in the basement.
Where is this triplex located?
The property is located at 411 WASHINGTON Street 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: Brick Victorian multi‑family home with separate electric meters for each unit; Main‑level unit: formal living and dining rooms, 2 bedrooms, 2 bathrooms, spacious kitchen, family room access to basement; Second‑floor unit: oversized 2‑bedroom, 2‑bath layout with potential to convert back to two 1‑bedroom apartments
