Lead-Free Two-Unit
For Sale
$350,000
7322 Windsor Mill Rd, Windsor Mill, MD 21244
Independent units include separate electric meters, shared laundry, and partitioned basement storage areas.
Property Size1,464 SF
Price / SF$239.07
Days on Market34
Property Features for 7322 Windsor Mill Rd
General Information
Standard status
Active
Size
1,464 SF
Property subtype
Residential Income
Units
Unit Mix
2 bed, 1.5 bath, 1 bed, 1 bath
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,437
Listing Agency:
Compass
(410) 914-7355
Listed By:
Nicholas W Bogardus · License #662465
(410) 914-7355
Source:
Exprealty
Added: Jul 9
Changed: Aug 10
Last Checked: Aug 11 at 9:53AM
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 Compass
Investment Insights
Based on property information with market context.
This 1,464-square-foot duplex contains two self-contained residential units with distinct layouts. The main-level apartment offers two bedrooms and 1.5 baths, while the upper unit includes one bedroom and one bath. Separate electric meters support independent utility management between the units.
The fully waterproofed basement adds functional support space, with a shared laundry room and individually partitioned storage areas assigned to each unit. The property is certified lead-free and has been maintained in move-in-ready condition. Located on Windsor Mill Rd in Windsor Mill, Maryland, the configuration accommodates separate occupants while preserving shared basement amenities.
The fully waterproofed basement adds functional support space, with a shared laundry room and individually partitioned storage areas assigned to each unit. The property is certified lead-free and has been maintained in move-in-ready condition. Located on Windsor Mill Rd in Windsor Mill, Maryland, the configuration accommodates separate occupants while preserving shared basement amenities.
Key Highlights
- 1,464‑square‑foot duplex with two independent residential units
- Main‑level unit includes 2 bedrooms and 1.5 baths
- Upper‑level apartment offers 1 bedroom and 1 bath
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
$21,499
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
6.14%
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%
$429,980
$430.0K
Cap Rate 7%
$307,129
$307.1K
Cap Rate 9%
$238,878
$238.9K
Market Conditions
NOI Build-Up for 1,464 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
$32.5K $22.20/SF
− Vacancy
−$1.8K −$1.22/SF
EGI
$30.7K $20.98/SF
− OpEx
−$9.2K −$6.29/SF
NOI
$21.5K $14.69/SF
Area
Baltimore, MD
Vacancy
5.50%
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%
$429,980
Cap Rate 7%
$307,129
Cap Rate 9%
$238,878
Alternative Uses
Best Use
Multifamily LT 5
$307.1K
$268.7K – $358.3K
NOI $21,499 @ 7.0% cap · market cap 6.14%
Second Best
Apartment 5plus
$272.5K
$238.4K – $317.9K
NOI $19,074 @ 7.0% cap · market cap 5.45%
Theoretical Best
Office A
$350.7K
$306.9K – $409.2K
NOI $24,551 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
497
Businesses Nearby
Explore this area
Business Placement
Demographics for 21244, MD
38,015
Population
15,006
Households
2.5
Avg Household Size
36
Median Age
35%
College-Educated
90%
High-School Grad
14.1 sq mi
ZIP Area
2,696
Density / Sq Mi
$84,849
Median Household Income
$45,367
Median Earnings
$1,538
Median Rent
$271,200
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 - Independent units include separate electric meters, shared laundry, and partitioned basement storage areas.
Where is this duplex located?
The property is located at 7322 Windsor Mill Rd Windsor Mill, MD.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1,464‑square‑foot duplex with two independent residential units; Main‑level unit includes 2 bedrooms and 1.5 baths; Upper‑level apartment offers 1 bedroom and 1 bath
