Five-Unit Brick Apartment
For Sale
$215,000
807 BEDFORD Street, Cumberland, MD 21502
Multi-Family, CUMBERLAND, MD
Property Size2,395 SF
Lot Size0.06 Acres
Price / SF$89.77
Days on Market138
Property Features for 807 BEDFORD Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking
4
Parking features
On Street, Off Street
Elementary school district
ALLEGANY COUNTY PUBLIC SCHOOLS
Middle school district
ALLEGANY COUNTY PUBLIC SCHOOLS
High school district
ALLEGANY COUNTY PUBLIC SCHOOLS
Standard status
Active
Size
2,395 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
1872
Utilities
Heating system
Baseboard, Other (Heating), Electric (Heating)
Building Details
Year built
1920
Number of units
2
Building materials
Brick
Listing Agency:
Perry Wellington Realty, LLC
(240) 979-4660
Listed By:
Deborah K Grimm · License #71388
(814) 695-5323
Added: May 1
Changed: Sep 13
Last Checked: Sep 15 at 7:06PM
MLS# MDAL2014506
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 807 Bedford Street in Cumberland, Maryland, this 2,395-square-foot brick apartment property contains five units within a building originally constructed as a duplex and later converted. The property sits on 0.0634 acres and dates to 1920.
All five units are currently rented. Heating is provided through electric baseboard systems, and parking is available both on the street and off site. A basement is also included in the property’s room configuration.
All five units are currently rented. Heating is provided through electric baseboard systems, and parking is available both on the street and off site. A basement is also included in the property’s room configuration.
Key Highlights
- Five‑unit apartment building converted from a duplex
- 2,395 square feet on 0.0634 acres
- Brick construction completed in 1920
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
$15,017
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
6.98%
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%
$300,340
$300.3K
Cap Rate 7%
$214,529
$214.5K
Cap Rate 9%
$166,856
$166.9K
Market Conditions
NOI Build-Up for 2,395 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
$28.7K $12.00/SF
− Vacancy
−$1.4K −$0.60/SF
EGI
$27.3K $11.40/SF
− OpEx
−$12.3K −$5.13/SF
NOI
$15.0K $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%
$300,340
Cap Rate 7%
$214,529
Cap Rate 9%
$166,856
Alternative Uses
Best Use
Apartment 5plus
$214.5K
$187.7K – $250.3K
NOI $15,017 @ 7.0% cap · market cap 6.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$888.2K
$777.2K – $1.04M
NOI $62,173 @ 7.0% cap · market cap 28.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
195
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
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Brick multifamily property with five units and both on-street and off-street parking.
Where is this apartment building located?
The property is located at 807 BEDFORD Street Cumberland, MD.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Five‑unit apartment building converted from a duplex; 2,395 square feet on 0.0634 acres; Brick construction completed in 1920
