Remodeled
New
For Sale
$115,000
616 ELM STREET, Cumberland, MD 21502
Up-and-down layout with two one-bedroom units, each offering a kitchen, full bath, and laundry hookups.
Property Size1,672 SF
Price / SF$68.78
Days on Market6
Property Features for 616 ELM STREET
General Information
Standard status
Active
Size
1,672 SF
Property subtype
Duplex
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
laundry hook-ups
Building Details
Year Built
1928
Buildings
1
Listing Agency:
Charis Realty Group
(301) 268-0816
Listed By:
Allison R Candelas
(301) 268-0816
Source:
Cummingsrealtors
Added: Aug 6
Changed: Aug 11
Last Checked: Aug 11 at 6:41AM
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 Charis Realty Group
Investment Insights
Based on property information with market context.
Located at 616 Elm Street in Cumberland, this duplex contains 1,672 square feet across an upstairs residence and a downstairs residence. The property was built in 1928 and has undergone remodeling, with updated finishes throughout both units.
Each one-bedroom, one-bath unit includes a living room, kitchen, full bathroom, and dedicated laundry hookups. The property is near Chick-fil-A, Chipotle, and Royal Farms, with access to Downtown Cumberland and Interstate 68. Its two-level configuration provides separate residential spaces within a single multifamily property.
Each one-bedroom, one-bath unit includes a living room, kitchen, full bathroom, and dedicated laundry hookups. The property is near Chick-fil-A, Chipotle, and Royal Farms, with access to Downtown Cumberland and Interstate 68. Its two-level configuration provides separate residential spaces within a single multifamily property.
Key Highlights
- Two‑unit duplex with one upstairs residence and one downstairs residence
- 1,672 square feet; built in 1928
- Two 1‑bed, 1‑bath units
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
$10,483
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
9.12%
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%
$209,660
$209.7K
Cap Rate 7%
$149,757
$149.8K
Cap Rate 9%
$116,478
$116.5K
Market Conditions
NOI Build-Up for 1,672 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
$20.1K $12.00/SF
− Vacancy
−$1.0K −$0.60/SF
EGI
$19.1K $11.40/SF
− OpEx
−$8.6K −$5.13/SF
NOI
$10.5K $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 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%
$209,660
Cap Rate 7%
$149,757
Cap Rate 9%
$116,478
Alternative Uses
Best Use
Multifamily LT 5
$161.7K
$141.5K – $188.6K
NOI $11,317 @ 7.0% cap · market cap 9.84%
Second Best
Apartment 5plus
$149.8K
$131.0K – $174.7K
NOI $10,483 @ 7.0% cap · market cap 9.12%
Theoretical Best
Office A
$620.1K
$542.6K – $723.4K
NOI $43,405 @ 7.0% cap · market cap 37.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,277
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?
Duplex - Up-and-down layout with two one-bedroom units, each offering a kitchen, full bath, and laundry hookups.
Where is this duplex located?
The property is located at 616 ELM STREET Cumberland, MD.
What is the asking price?
The asking price for this property is $115,000.
What are key features of this property?
This property features: Two‑unit duplex with one upstairs residence and one downstairs residence; 1,672 square feet; built in 1928; Two 1‑bed, 1‑bath units
