Colonial Duplex with Updated
New
For Sale
$295,000
90 LIBERTY Street, Westminster, MD 21157
MULTI_FAMILY - Colonial - WESTMINSTER, MD
Property Size1,520 SF
Lot Size0.16 Acres
Price / SF$194.08
Days on Market3
Property Features for 90 LIBERTY Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement, Family Room
Parking
4
Parking features
Driveway, Parking Lot, Off Street
Interior features
2nd Kitchen, Additional Stairway, Attic, Carpet, Ceiling Fan(s), Entry Level Bedroom, Family Room Off Kitchen, Pantry, Walk-in Closet(s)
Appliances
Exhaust Fan, Icemaker, Oven/Range - Electric, Refrigerator, Water Dispenser, WaterHeater, Washer
Subdivision
WESTMINSTER ELECTION DISTRICT
Elementary school district
CARROLL COUNTY PUBLIC SCHOOLS
Middle school district
CARROLL COUNTY PUBLIC SCHOOLS
High school district
CARROLL COUNTY PUBLIC SCHOOLS
Standard status
Active
Size
1,520 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
2075
Utilities
Heating system
Other (Heating)
Cooling system
Ceiling Fan(s), Window Unit(s)
Building Details
Year built
1900
Number of units
1
Building materials
Concrete, Masonry, Aluminum Siding
Architectural style
Colonial
Listing Agency:
EXP Realty, LLC
(888) 860-7369
Listed By:
Corey N Campbell · License #581550
(410) 236-1339
Added: Aug 7
Last Checked: Aug 9 at 3:06AM
MLS# MDCR2036720
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.
This Colonial duplex in Westminster combines a 1,520-square-foot layout with practical features for residential income use. The property includes two kitchens, an additional stairway, an entry-level bedroom, a family room adjoining the kitchen, pantry storage, and a walk-in closet. Attic and basement areas add useful storage and functional space.
Built in 1900, the property has concrete, masonry, and aluminum siding construction. Recent work includes a new roof, replacement plumbing beneath the first-floor bathroom, and newer hot water heaters. Heating is listed as other, with window-unit cooling and ceiling fans. Parking is available through a parking lot, driveway, and off-street spaces. The property occupies 0.1551 acres at 90 Liberty Street in Westminster, Maryland, and carries no city taxes.
Built in 1900, the property has concrete, masonry, and aluminum siding construction. Recent work includes a new roof, replacement plumbing beneath the first-floor bathroom, and newer hot water heaters. Heating is listed as other, with window-unit cooling and ceiling fans. Parking is available through a parking lot, driveway, and off-street spaces. The property occupies 0.1551 acres at 90 Liberty Street in Westminster, Maryland, and carries no city taxes.
Key Highlights
- Duplex with 1,520 square feet of building area
- 0.1551‑acre site at 90 Liberty Street, Westminster, MD 21157
- New roof, updated plumbing beneath the first‑floor bathroom, and newer hot water heaters
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
$19,753
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
6.70%
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%
$395,060
$395.1K
Cap Rate 7%
$282,186
$282.2K
Cap Rate 9%
$219,478
$219.5K
Market Conditions
NOI Build-Up for 1,520 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
$29.5K $19.44/SF
− Vacancy
−$1.3K −$0.87/SF
EGI
$28.2K $18.57/SF
− OpEx
−$8.5K −$5.57/SF
NOI
$19.8K $13.00/SF
Area
Carroll County, MD
Vacancy
4.50%
Lease Rate
$19.44 /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%
$395,060
Cap Rate 7%
$282,186
Cap Rate 9%
$219,478
Alternative Uses
Best Use
Multifamily LT 5
$282.2K
$246.9K – $329.2K
NOI $19,753 @ 7.0% cap · market cap 6.70%
Second Best
Apartment 5plus
$243.8K
$213.3K – $284.4K
NOI $17,064 @ 7.0% cap · market cap 5.78%
Theoretical Best
Office A
$563.7K
$493.2K – $657.7K
NOI $39,459 @ 7.0% cap · market cap 13.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,220
Businesses Nearby
Explore this area
Business Placement
Demographics for 21157, MD
38,584
Population
15,466
Households
2.5
Avg Household Size
42
Median Age
37%
College-Educated
93%
High-School Grad
77.7 sq mi
ZIP Area
497
Density / Sq Mi
$102,835
Median Household Income
$50,254
Median Earnings
$1,236
Median Rent
$394,100
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 - Two-kitchen layout with off-street parking, attic storage, and a blend of masonry and aluminum siding.
Where is this duplex located?
The property is located at 90 LIBERTY Street Westminster, MD.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Duplex with 1,520 square feet of building area; 0.1551‑acre site at 90 Liberty Street, Westminster, MD 21157; New roof, updated plumbing beneath the first‑floor bathroom, and newer hot water heaters
