Top-Floor Residential Income
New
For Sale
$600,000
4100 N CHARLES ST #1114, Baltimore, MD 21218
BALTIMORE, MD
Property Size1,526 SF
Price / SF$393.18
Days on Market4
Property Features for 4100 N CHARLES ST #1114
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bedroom 1
Subdivision
WINTHROP HOUSE
Elementary school district
BALTIMORE CITY PUBLIC SCHOOLS
Middle school district
BALTIMORE CITY PUBLIC SCHOOLS
High school district
BALTIMORE CITY PUBLIC SCHOOLS
Standard status
Active
Amenities
24 hour Front Desk Service
three guest suites
petite gym
recreation room pool
balcony
Building Details
Year built
1974
Listing Agency:
Lake Roland
(410) 377-2270
Listed By:
Bill Magruder
(410) 456-2490
Added: Sep 9
Changed: Sep 10
Last Checked: Sep 11 at 11:06PM
MLS# MDBA2228062
Copyright © 2026 Long & Foster Real Estate. 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.
Positioned on the top floor, this 1,526-square-foot three-bedroom residence combines an open interior with treetop views from each window. Improvements include refinished parquet flooring, solar-protection shades, California closets in two bedrooms, a remodeled hall bath, and a primary bath with a walk-in shower and multiple shower heads. The kitchen has been updated with expanded storage and a pantry, while the balcony adds outdoor space for morning use or urban gardening.
The property includes a deeded parking space within a full-service building offering 24-hour front desk service, three guest suites, a gym, recreation room, and pool. Comprehensive condominium dues cover all utilities. The residence was built in 1974 and is located on N Charles St in Baltimore’s 21218 ZIP code.
The property includes a deeded parking space within a full-service building offering 24-hour front desk service, three guest suites, a gym, recreation room, and pool. Comprehensive condominium dues cover all utilities. The residence was built in 1974 and is located on N Charles St in Baltimore’s 21218 ZIP code.
Key Highlights
- Top‑floor three‑bedroom residence with 1,526 sq ft of living area
- Panoramic treetop views from every window
- Updated kitchen with pantry and expanded storage
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
$17,704
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
2.95%
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%
$354,080
$354.1K
Cap Rate 7%
$252,914
$252.9K
Cap Rate 9%
$196,711
$196.7K
Market Conditions
NOI Build-Up for 1,526 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
$34.4K $22.56/SF
− Vacancy
−$2.2K −$1.47/SF
EGI
$32.2K $21.09/SF
− OpEx
−$14.5K −$9.49/SF
NOI
$17.7K $11.60/SF
Area
ZIP 21218
Vacancy
6.50%
Lease Rate
$22.56 /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%
$354,080
Cap Rate 7%
$252,914
Cap Rate 9%
$196,711
Alternative Uses
Best Use
Apartment 5plus
$252.9K
$221.3K – $295.1K
NOI $17,704 @ 7.0% cap · market cap 2.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$414.9K
$363.0K – $484.1K
NOI $29,043 @ 7.0% cap · market cap 4.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
835
Businesses Nearby
Explore this area
Business Placement
Demographics for 21218, MD
46,238
Population
21,751
Households
2.1
Avg Household Size
34
Median Age
44%
College-Educated
90%
High-School Grad
4.3 sq mi
ZIP Area
10,753
Density / Sq Mi
$58,378
Median Household Income
$38,316
Median Earnings
$1,239
Median Rent
$229,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated three-bedroom residence with a balcony, deeded parking, and full-service building amenities.
Where is this residential income property located?
The property is located at 4100 N CHARLES ST #1114 Baltimore, MD.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Top‑floor three‑bedroom residence with 1,526 sq ft of living area; Panoramic treetop views from every window; Updated kitchen with pantry and expanded storage
