Updated End-Row
For Sale
$219,999
501 BALTIC Avenue, Brooklyn, MD 21225
Multi-Family, BROOKLYN, MD
Property Size1,294 SF
Price / SF$170.01
Days on Market84
Property Features for 501 BALTIC Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street
Appliances
Disposal, Dishwasher, Microwave, Refrigerator, Washer, Dryer
Subdivision
BROOKLYN
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
1,294 SF
Taxes and HOA fees
Tax Annual Amount
2520
Utilities
Heating system
Forced Air
Cooling system
Window Unit(s)
Building Details
Year built
1945
Number of units
2
Building materials
Brick
Architectural style
Federal
Listing Agency:
Cummings & Co. Realtors
(410) 823-0033
Listed By:
Renwick G James · License #587100
(410) 812-5004
Added: Jun 8
Changed: Aug 19
Last Checked: Aug 30 at 9:06PM
MLS# MDBA2218708
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 1,294-square-foot brick duplex was built in 1945 and has received recent upgrades. The end-of-row property contains two separate apartments: one with 1 bedroom, 1 bath, living and dining areas, and a kitchen; the other with 2 bedrooms, 1.5 baths, and a kitchen. Each unit includes its own refrigerator and stove. Additional listed appliances include a dishwasher, disposal, microwave, washer, and dryer. Heating is provided by forced air, with window unit cooling, and parking is available on the street. Both apartments are currently occupied. Residents pay electricity, while the owner pays water and sewer.
The property is located at 501 BALTIC Avenue in BROOKLYN, MD 21225, within BALTIMORE CITY. Public transportation is nearby, with access to I-895, I-95, I-695, Rte-100, Rte-40, and major roads connecting to downtown and surrounding areas. A fire station, churches, and convenience stores are also close by.
The property is located at 501 BALTIC Avenue in BROOKLYN, MD 21225, within BALTIMORE CITY. Public transportation is nearby, with access to I-895, I-95, I-695, Rte-100, Rte-40, and major roads connecting to downtown and surrounding areas. A fire station, churches, and convenience stores are also close by.
Key Highlights
- Two‑unit end‑of‑row duplex with 1‑bedroom and 2‑bedroom apartments
- 1294 Square Feet of building area; built in 1945
- Both units are occupied, with tenants paying electricity
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
$19,003
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
8.64%
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%
$380,060
$380.1K
Cap Rate 7%
$271,471
$271.5K
Cap Rate 9%
$211,144
$211.1K
Market Conditions
NOI Build-Up for 1,294 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
$28.7K $22.20/SF
− Vacancy
−$1.6K −$1.22/SF
EGI
$27.1K $20.98/SF
− OpEx
−$8.1K −$6.29/SF
NOI
$19.0K $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%
$380,060
Cap Rate 7%
$271,471
Cap Rate 9%
$211,144
Alternative Uses
Best Use
Multifamily LT 5
$271.5K
$237.5K – $316.7K
NOI $19,003 @ 7.0% cap · market cap 8.64%
Second Best
Apartment 5plus
$240.8K
$210.7K – $281.0K
NOI $16,859 @ 7.0% cap · market cap 7.66%
Theoretical Best
Office A
$310.0K
$271.3K – $361.7K
NOI $21,700 @ 7.0% cap · market cap 9.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
652
Businesses Nearby
Explore this area
Business Placement
Demographics for 21225, MD
34,138
Population
14,434
Households
2.4
Avg Household Size
34
Median Age
14%
College-Educated
79%
High-School Grad
6.5 sq mi
ZIP Area
5,252
Density / Sq Mi
$50,069
Median Household Income
$35,991
Median Earnings
$1,118
Median Rent
$214,000
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?
Duplex - Two separate apartments offer distinct layouts, private kitchens, and dedicated refrigerator and stove appliances.
Where is this duplex located?
The property is located at 501 BALTIC Avenue Brooklyn, MD.
What is the asking price?
The asking price for this property is $219,999.
What are key features of this property?
This property features: Two‑unit end‑of‑row duplex with 1‑bedroom and 2‑bedroom apartments; 1294 Square Feet of building area; built in 1945; Both units are occupied, with tenants paying electricity
