Updated Four-Home
For Sale
$1,050,000
Pending
4224 ROOP Rd, Mount Airy, MD 21771
Multi-unit property with four homes currently connected to one meter and potential for separate metering.
Property Size4,870 SF
Days on Market48
Property Features for 4224 ROOP Rd
General Information
Standard status
Pending
Size
4,870 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$8,680
Building Details
Building Size
4,870 SF
Year Built
1980
Units
1
Listing Agency:
Long & Foster Real Estate
Listed By:
Jake Northrop · License #668697
(443) 204-3460
Source:
Elliman
Added: Jul 30
Changed: Sep 4
Last Checked: Sep 15 at 8:46AM
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 Long & Foster Real Estate
Investment Insights
Based on property information with market context.
This quadplex property includes four homes in one asset, offering a multi-unit configuration for residential occupancy or investment use. The homes are described as updated and move-in ready. All four are currently served by one meter, with the ability to separate them if desired.
Built in 1980, the property is located on Roop Road in Mount Airy, Maryland. The surrounding area is car-dependent, with a walk score of 0 and a bike score of 13, classified as somewhat bikeable.
Built in 1980, the property is located on Roop Road in Mount Airy, Maryland. The surrounding area is car-dependent, with a walk score of 0 and a bike score of 13, classified as somewhat bikeable.
Key Highlights
- Four homes in one quadplex property
- Updated and described as move‑in ready
- Currently served by one meter
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
$72,085
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
6.87%
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%
$1,441,700
$1.4M
Cap Rate 7%
$1,029,786
$1.0M
Cap Rate 9%
$800,944
$800.9K
Market Conditions
NOI Build-Up for 4,870 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
$108.1K $22.20/SF
− Vacancy
−$5.1K −$1.05/SF
EGI
$103.0K $21.15/SF
− OpEx
−$30.9K −$6.34/SF
NOI
$72.1K $14.80/SF
Area
Frederick County, MD
Vacancy
4.75%
Lease Rate
$22.20 /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%
$1,441,700
Cap Rate 7%
$1,029,786
Cap Rate 9%
$800,944
Alternative Uses
Best Use
Multifamily LT 5
$1.03M
$901.1K – $1.20M
NOI $72,085 @ 7.0% cap · market cap 6.87%
Second Best
Apartment 5plus
$946.6K
$828.3K – $1.10M
NOI $66,261 @ 7.0% cap · market cap 6.31%
Theoretical Best
Specialty Retail
$1.80M
$1.58M – $2.11M
NOI $126,320 @ 7.0% cap · market cap 12.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
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Business Placement
Demographics for 21771, MD
30,697
Population
11,401
Households
2.7
Avg Household Size
43
Median Age
46%
College-Educated
95%
High-School Grad
89.5 sq mi
ZIP Area
343
Density / Sq Mi
$154,844
Median Household Income
$70,011
Median Earnings
$2,117
Median Rent
$532,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Multi-unit property with four homes currently connected to one meter and potential for separate metering.
Where is this quadplex located?
The property is located at 4224 ROOP Rd Mount Airy, MD.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Four homes in one quadplex property; Updated and described as move‑in ready; Currently served by one meter
