420-428 Baltimore Ave, Cumberland, MD 21502

420-428 Baltimore Ave, Cumberland, MD, is a renovated 5-unit multifamily building (3,828 sq ft on a 2,226 sq ft lot) in the Decatur Heights neighborhood. The renovations (new roof, new units, lead-free certification, conversion of all units to larger 3-bedroom/1-bath layouts with two featuring balconies) significantly enhance its appeal, marketability, and income potential. Tenants cover utilities reducing owner expenses, and additional income streams to be gained from the garage @ $150/MO and laundry @$50/MO Income and Expense Analysis To estimate resale value, I calculated the property's Net Operating Income (NOI), a key metric for income-producing properties. This assumes full occupancy (realistic given the upgrades and Cumberland's rental demand) and conservative vacancy/maintenance allowances. Category Details Annual Amount Gross Income 4 × $950 (3BR units) = $3,800/mo 1 × $650 (efficiency) = $650/mo Garage: $150/mo Laundry: $50/mo Total Gross $45,600 $7,800 $1,800 $600 $55,800 Operating Expenses Property taxes: $1,600 Insurance: $2,200 Vacancy allowance (5% of gross): $2,790 Maintenance/reserves (8% of gross, conservative for renovated property): $4,464 Total Expenses $1,600 $2,200 $2,790 $4,464 $11,054 Net Operating Income (NOI) Gross Income - Expenses $44,746