Multifamily Property with Mobile
For Sale
$319,000
965 Cokesbury Rd, Port Deposit, MD 21904
Two residential dwellings include a large house and a separate mobile home with month-to-month occupancy.
Property Size2,472 SF
Price / SF$129.05
Days on Market15
Property Features for 965 Cokesbury Rd
General Information
Standard status
Active
Size
2,472 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 12BR/2BA house, 1 x 3BR/1BA mobile home
Multifamily Units
2
Building Details
Year Built
1950
Buildings
2
Listing Agency:
Alberti Realty, LLC
(443) 981-8000
Listed By:
Joseph Warren Avampato · License #5002497
Source:
Baltimoreharfordhomesforsale
Added: Aug 17
Changed: Aug 30
Last Checked: Aug 30 at 6:14PM
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 multifamily property includes a 2,472-square-foot house with 12 bedrooms and 2 bathrooms, along with a separate mobile home offering 3 bedrooms and 1 bathroom. The house was built in 1950.
Both dwellings are occupied under month-to-month tenancy arrangements. The property is located at 965 Cokesbury Rd in Port Deposit, Maryland.
Both dwellings are occupied under month-to-month tenancy arrangements. The property is located at 965 Cokesbury Rd in Port Deposit, Maryland.
Key Highlights
- 2,472‑square‑foot house with 12 bedrooms and 2 bathrooms
- Separate mobile home with 3 bedrooms and 1 bathroom
- Both dwellings have month‑to‑month tenants
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
$21,662
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
6.79%
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%
$433,240
$433.2K
Cap Rate 7%
$309,457
$309.5K
Cap Rate 9%
$240,689
$240.7K
Market Conditions
NOI Build-Up for 2,472 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
$42.1K $17.04/SF
− Vacancy
−$2.7K −$1.11/SF
EGI
$39.4K $15.93/SF
− OpEx
−$17.7K −$7.17/SF
NOI
$21.7K $8.76/SF
Area
Cecil County, MD
Vacancy
6.50%
Lease Rate
$17.04 /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%
$433,240
Cap Rate 7%
$309,457
Cap Rate 9%
$240,689
Alternative Uses
Best Use
Apartment 5plus
$309.5K
$270.8K – $361.0K
NOI $21,662 @ 7.0% cap · market cap 6.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$916.7K
$802.2K – $1.07M
NOI $64,172 @ 7.0% cap · market cap 20.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
32
Businesses Nearby
Explore this area
Business Placement
Demographics for 21904, MD
6,689
Population
2,787
Households
2.4
Avg Household Size
43
Median Age
25%
College-Educated
91%
High-School Grad
23.6 sq mi
ZIP Area
283
Density / Sq Mi
$84,375
Median Household Income
$52,247
Median Earnings
$1,245
Median Rent
$318,800
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?
Multifamily property - Two residential dwellings include a large house and a separate mobile home with month-to-month occupancy.
Where is this multifamily property located?
The property is located at 965 Cokesbury Rd Port Deposit, MD.
What is the asking price?
The asking price for this property is $319,000.
What are key features of this property?
This property features: 2,472‑square‑foot house with 12 bedrooms and 2 bathrooms; Separate mobile home with 3 bedrooms and 1 bathroom; Both dwellings have month‑to‑month tenants
