Four-Story Leased
For Sale
$529,000
343 SCOTT Street, Baltimore, MD 21230
Multi-Family, BALTIMORE, MD
Property Size1,862 SF
Price / SF$284.10
Days on Market97
Property Features for 343 SCOTT Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking
2
Parking features
Driveway
Appliances
Built-In Microwave, Dishwasher, Dryer, Oven/Range - Electric, Refrigerator, Stainless Steel Appliances, Washer
Subdivision
PIGTOWN HISTORIC DISTRICT
Elementary school district
BALTIMORE CITY PUBLIC SCHOOLS
Middle school district
BALTIMORE CITY PUBLIC SCHOOLS
High school district
BALTIMORE CITY PUBLIC SCHOOLS
Standard status
Active
Size
1,862 SF
Taxes and HOA fees
Tax Annual Amount
4292
Utilities
Heating system
Heat Pump (Heating), Electric (Heating)
Cooling system
Central Air, Ceiling Fan(s)
Amenities
high end appliances
historic exposed brick
residential mural
yard and garden
Building Details
Year built
1900
Number of units
2
Building materials
Brick
Architectural style
Federal
Listing Agency:
Results 1 Realty LLC
(410) 576-8522
Listed By:
Clausen Ely III · License #583227
(202) 494-4700
Added: Jun 11
Changed: Sep 13
Last Checked: Sep 15 at 7:06PM
MLS# MDBA2218782
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 1,862-square-foot duplex occupies a four-story brick building constructed in 1900 with Federal architectural styling. The two residences are each arranged across two levels and are leased on annual terms. Interior character includes exposed brick and period details alongside modern finishes and high-end appliances, including dishwashers, electric ranges, refrigerators, washers, and dryers. Central air, ceiling fans, and electric heat pump systems serve the property.
A driveway provides parking for at least two vehicles. The property also includes a connected lot currently configured as a yard and garden, with the source describing possible use for additional parking or building expansion. Its location places the building near the UMAB graduate campus shuttle, Pigtown Main Street shops, the UMAB campus, stadiums, the Inner Harbor, downtown, and the casino entertainment district. The south-facing facade features a residential mural. The property is reported at a 6+% cap rate.
A driveway provides parking for at least two vehicles. The property also includes a connected lot currently configured as a yard and garden, with the source describing possible use for additional parking or building expansion. Its location places the building near the UMAB graduate campus shuttle, Pigtown Main Street shops, the UMAB campus, stadiums, the Inner Harbor, downtown, and the casino entertainment district. The south-facing facade features a residential mural. The property is reported at a 6+% cap rate.
Key Highlights
- 1,862 SF duplex with two residences, each arranged over 2 levels
- Four‑story brick building constructed in 1900 with Federal architectural style
- Both units are leased on annual terms
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
$27,344
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
5.17%
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%
$546,880
$546.9K
Cap Rate 7%
$390,629
$390.6K
Cap Rate 9%
$303,822
$303.8K
Market Conditions
NOI Build-Up for 1,862 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
$41.3K $22.20/SF
− Vacancy
−$2.3K −$1.22/SF
EGI
$39.1K $20.98/SF
− OpEx
−$11.7K −$6.29/SF
NOI
$27.3K $14.69/SF
Area
Baltimore, MD
Vacancy
5.50%
Lease Rate
$22.20 /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%
$546,880
Cap Rate 7%
$390,629
Cap Rate 9%
$303,822
Alternative Uses
Best Use
Multifamily LT 5
$390.6K
$341.8K – $455.7K
NOI $27,344 @ 7.0% cap · market cap 5.17%
Second Best
Apartment 5plus
$346.6K
$303.2K – $404.3K
NOI $24,259 @ 7.0% cap · market cap 4.59%
Theoretical Best
Office A
$446.1K
$390.3K – $520.4K
NOI $31,226 @ 7.0% cap · market cap 5.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
5,275
Businesses Nearby
Explore this area
Business Placement
Demographics for 21230, MD
36,660
Population
18,070
Households
2
Avg Household Size
33
Median Age
59%
College-Educated
88%
High-School Grad
6.3 sq mi
ZIP Area
5,819
Density / Sq Mi
$94,164
Median Household Income
$69,973
Median Earnings
$1,771
Median Rent
$327,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Brick duplex with two separately leased residences, modern appliances, period character, and off-street parking.
Where is this duplex located?
The property is located at 343 SCOTT Street Baltimore, MD.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: 1,862 SF duplex with two residences, each arranged over 2 levels; Four‑story brick building constructed in 1900 with Federal architectural style; Both units are leased on annual terms
