Updated Two-Unit
New
For Sale
$595,000
804 804-6 E South St, Frederick, MD 21701
Two recently updated rental units on a 0.3-acre site with M2 zoning.
Property Size3,000 SF
Lot Size0.30 Acres
Price / SF$198.33
Days on Market2
Property Features for 804 804-6 E South St
General Information
Standard status
Active
Size
3,000 SF
Lot size
0.30 Acres
Zoning
M2
Occupancy
100%
Building Details
Year Built
1900
Listing Agency:
Libra Realty, LLC
(301) 972-5588
Listed By:
Zhixiong Shi · License #607527
Source:
Kandorre
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 9:55AM
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 Libra Realty, LLC
Investment Insights
Based on property information with market context.
This two-unit duplex includes recently updated residences at 804 and 806 E South St. The property was built in 1900 and occupies a 0.3-acre site in Frederick, Maryland. Both units are currently rented, providing an established residential income profile.
M2 zoning adds a commercial land-use designation to the property’s existing residential configuration. The site is positioned near ongoing development along E South, with the surrounding context identified for potential restaurant or group-home use in the property information.
M2 zoning adds a commercial land-use designation to the property’s existing residential configuration. The site is positioned near ongoing development along E South, with the surrounding context identified for potential restaurant or group-home use in the property information.
Key Highlights
- Two‑unit duplex with residences at 804 and 806 E South St
- 0.3‑acre site in Frederick, MD
- Both rental units recently updated
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
$44,406
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
7.46%
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%
$888,120
$888.1K
Cap Rate 7%
$634,371
$634.4K
Cap Rate 9%
$493,400
$493.4K
Market Conditions
NOI Build-Up for 3,000 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
$66.6K $22.20/SF
− Vacancy
−$3.2K −$1.05/SF
EGI
$63.4K $21.15/SF
− OpEx
−$19.0K −$6.34/SF
NOI
$44.4K $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%
$888,120
Cap Rate 7%
$634,371
Cap Rate 9%
$493,400
Alternative Uses
Best Use
Multifamily LT 5
$634.4K
$555.1K – $740.1K
NOI $44,406 @ 7.0% cap · market cap 7.46%
Second Best
Apartment 5plus
$583.1K
$510.2K – $680.3K
NOI $40,818 @ 7.0% cap · market cap 6.86%
Theoretical Best
Specialty Retail
$1.11M
$972.7K – $1.30M
NOI $77,815 @ 7.0% cap · market cap 13.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
703
Businesses Nearby
Explore this area
Business Placement
Demographics for 21701, MD
39,629
Population
18,914
Households
2.1
Avg Household Size
40
Median Age
50%
College-Educated
95%
High-School Grad
39.7 sq mi
ZIP Area
998
Density / Sq Mi
$102,306
Median Household Income
$59,381
Median Earnings
$1,607
Median Rent
$404,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two recently updated rental units on a 0.3-acre site with M2 zoning.
Where is this duplex located?
The property is located at 804 804-6 E South St Frederick, MD.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Two‑unit duplex with residences at 804 and 806 E South St; 0.3‑acre site in Frederick, MD; Both rental units recently updated
