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Property profile & analytics
OFF-MARKET
Estimated value
$510,000
Investment properties
438 Conowingo Rd Conowingo, MD 21918-1316
Entity Owned
~
Est. High Equity
Property ID
US40-0482524
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1950
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
1,922 SF
Lot
0.43 ac (18,750 SF)
Zoning code
BG
APN
08-002649
UPID
US40-0482524
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$370k
Comparable Approach
Comparable
$362k
Blend (final)
Blend
$510k
Owner & transaction history
438 Conowingo LLC
438 Conowingo LLC
since 2026
Last sale
$649,000
7 recorded transactions
Zoning & alternative use
BG · Conowingo, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$375,000
+53.2%
Retail stores
$365,000
+50.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Conowingo submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Conowingo submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$635,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$400,000
6.5%
$370,000
7%
$340,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$375,000
Change: +53% · Conversion: Easy
RETAIL STORES
$365,000
Change: +50% · Conversion: Easy
Blend value · Realmo final
$510k
Range $459k – $561k · ±10% · vs last sale $649k (Sep 21 2022)
Last sale anchor
$649k
Sep 21 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$265 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$3,311
Tax year 2023
Assessed value
$294,367
Assessed 2023
Previous assessed
$258,600
+13.8% YoY
Effective rate
1.12%
On assessed value
Land market value
$140,600
Improvement market value
$225,300
Total market value
$365,900
Applied tax rate
8.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1950
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
BASEBOARD
Buildings
2
Stories
1
Units
1
Bathrooms
2
Total area
1,922 SF
Lot
0.43 ac (18,750 SF)
Zoning code
BG
APN
08-002649
UPID
US40-0482524
Jurisdiction
CECIL
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
BG · Conowingo, MD
Zoning BG · permitted uses
BG · Conowingo, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Conowingo. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$375,000
RETAIL STORES
Est. value
$365,000
OFFICE BUILDING
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1950
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
BASEBOARD
Stories
1
Buildings
2
Units
1
Bathrooms
2
Lot
0.43 ac
Current owner
From public records · entity-resolved
438 Conowingo LLC
Entity
Mailing address
2103 MERRITT PARK DR, ORLANDO, FL 32803-1529
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 29, 2026
$750,000
438 Conowingo LLC
Psu Investments LLC
Deed
—
Sep 21, 2022
$649,000
Psu Investments LLC
Daniel L Pugh
Deed
$486,750 · Linkbank
Nov 2, 2017
—
Daniel L Pugh
—
Deed
related
$79,140 · First National Bank Of Pennsylvania
Oct 18, 2017
—
Daniel L Pugh
—
Deed
related
$50,000 · First National Bank Of Pennsylvania
—
—
Daniel L Pugh
—
Deed Of Trust
related
$128,000 · County Banking & Trust Co
—
—
Daniel L Pugh
—
Deed Of Trust
related
$50,000 · Mercantile County Bank
—
—
Daniel L Pugh
—
Deed Of Trust
related
$62,000 · County Banking & Trust Co
—
—
Daniel L Pugh
—
Deed Of Trust
related
$124,000 · County Banking & Trust Co
—
—
Daniel L Pugh
—
Deed Of Trust
related
$85,000 · Pnc Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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