Occupied Two-Unit
New
For Sale
$249,999
88 KIST RD, Elkton, MD 21921
Separate front and rear residences are leased to month-to-month tenants.
Property Size1,118 SF
Price / SF$223.61
Days on Market5
Property Features for 88 KIST RD
General Information
Standard status
Active
Size
1,118 SF
Property subtype
Multi-Family
Listing Agency:
Alberti Realty, LLC
(410) 652-2848
Listed By:
Joseph Warren Avampato · License #5002497
(410) 652-2848
Source:
Imanirealtors
Added: Aug 26
Changed: Aug 29
Last Checked: Aug 29 at 5:16PM
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 duplex includes two separate residences. The front unit has three bedrooms and one bathroom, while the rear unit provides one bedroom and one bathroom. Both residences are occupied by month-to-month tenants, and the property will transfer with occupancy in place.
The property is located at 88 KIST RD in Elkton, Maryland 21921.
The property is located at 88 KIST RD in Elkton, Maryland 21921.
Key Highlights
- Two separate residential units in a duplex configuration
- Front residence includes 3 bedrooms and 1 bathroom
- Rear residence includes 1 bedroom and 1 bathroom
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
$11,119
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
4.45%
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%
$222,380
$222.4K
Cap Rate 7%
$158,843
$158.8K
Cap Rate 9%
$123,544
$123.5K
Market Conditions
NOI Build-Up for 1,118 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
$17.2K $15.36/SF
− Vacancy
−$1.3K −$1.15/SF
EGI
$15.9K $14.21/SF
− OpEx
−$4.8K −$4.26/SF
NOI
$11.1K $9.95/SF
Area
Cecil County, MD
Vacancy
7.50%
Lease Rate
$15.36 /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%
$222,380
Cap Rate 7%
$158,843
Cap Rate 9%
$123,544
Alternative Uses
Best Use
Multifamily LT 5
$158.8K
$139.0K – $185.3K
NOI $11,119 @ 7.0% cap · market cap 4.45%
Second Best
Apartment 5plus
$140.0K
$122.5K – $163.3K
NOI $9,797 @ 7.0% cap · market cap 3.92%
Theoretical Best
Office A
$414.6K
$362.8K – $483.7K
NOI $29,023 @ 7.0% cap · market cap 11.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
147
Businesses Nearby
Explore this area
Business Placement
Demographics for 21921, MD
44,983
Population
18,782
Households
2.4
Avg Household Size
39
Median Age
28%
College-Educated
92%
High-School Grad
94.7 sq mi
ZIP Area
475
Density / Sq Mi
$84,608
Median Household Income
$48,300
Median Earnings
$1,413
Median Rent
$296,000
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 - Separate front and rear residences are leased to month-to-month tenants.
Where is this duplex located?
The property is located at 88 KIST RD Elkton, MD.
What is the asking price?
The asking price for this property is $249,999.
What are key features of this property?
This property features: Two separate residential units in a duplex configuration; Front residence includes 3 bedrooms and 1 bathroom; Rear residence includes 1 bedroom and 1 bathroom
