Four-Unit Apartment
For Sale
$399,999
550 BOURBON STREET, Havre de Grace, MD 21078
Four one-bedroom apartments offer an established multifamily configuration with month-to-month tenancies.
Property Size2,074 SF
Price / SF$192.86
Days on Market49
Property Features for 550 BOURBON STREET
General Information
Standard status
Active
Size
2,074 SF
Property subtype
Quadruplex
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Building Details
Year Built
1935
Listing Agency:
Alberti Realty, LLC
(443) 981-8000
Listed By:
Joseph Warren Avampato · License #RS-0037117
(410) 652-2848
Source:
Cummingsrealtors
Added: Aug 19
Changed: Oct 6
Last Checked: Oct 5 at 7:26PM
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 Alberti Realty, LLC
Investment Insights
Based on property information with market context.
This 2,074-square-foot quadplex, built in 1935, contains four separate apartments. Each unit is configured with one bedroom and one bathroom, creating a consistent layout across the property. The apartments are occupied under month-to-month tenancies, providing an existing rental profile without long fixed lease terms.
The property is located at 550 Bourbon Street in Havre de Grace, Maryland, within ZIP code 21078. Its four-unit design and uniform one-bedroom layouts provide a straightforward multifamily format for evaluating operations, occupancy, and unit-level performance.
The property is located at 550 Bourbon Street in Havre de Grace, Maryland, within ZIP code 21078. Its four-unit design and uniform one-bedroom layouts provide a straightforward multifamily format for evaluating operations, occupancy, and unit-level performance.
Key Highlights
- Four apartments, each with 1 bedroom and 1 bathroom
- 2,074 SF multifamily property
- Month‑to‑month tenancies across the units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,813
Cap Rate
7.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$596,260
$596.3K
Cap Rate 7%
$425,900
$425.9K
Cap Rate 9%
$331,256
$331.3K
Market Conditions
NOI Build-Up for 2,074 SF
Gross rent
$46.0K $22.20/SF
− Vacancy
−$3.5K −$1.67/SF
EGI
$42.6K $20.54/SF
− OpEx
−$12.8K −$6.16/SF
NOI
$29.8K $14.37/SF
Area
Harford County, MD
Vacancy
7.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$596,260
Cap Rate 7%
$425,900
Cap Rate 9%
$331,256
Alternative Uses
Best Use
Multifamily LT 5
$425.9K
$372.7K – $496.9K
NOI $29,813 @ 7.0% cap · market cap 7.45%
Second Best
Apartment 5plus
$396.8K
$347.2K – $462.9K
NOI $27,773 @ 7.0% cap · market cap 6.94%
Theoretical Best
Office A
$729.8K
$638.5K – $851.4K
NOI $51,083 @ 7.0% cap · market cap 12.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
989
Businesses Nearby
Explore this area
Business Placement
Demographics for 21078, MD
20,321
Population
8,760
Households
2.3
Avg Household Size
46
Median Age
41%
College-Educated
93%
High-School Grad
30.1 sq mi
ZIP Area
675
Density / Sq Mi
$109,451
Median Household Income
$53,942
Median Earnings
$1,331
Median Rent
$355,500
Median Home Value
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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 - Four one-bedroom apartments offer an established multifamily configuration with month-to-month tenancies.
Where is this quadplex located?
The property is located at 550 BOURBON STREET Havre de Grace, MD.
What is the asking price?
The asking price for this property is $399,999.
What are key features of this property?
This property features: Four apartments, each with 1 bedroom and 1 bathroom; 2,074 SF multifamily property; Month‑to‑month tenancies across the units
