Triplex with Separate
For Sale
$310,000
517 MOSHER Street, Baltimore, MD 21217
MULTI_FAMILY - BALTIMORE, MD
Property Size1,989 SF
Price / SF$155.86
Days on Market184
Property Features for 517 MOSHER Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
On Street
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
1,989 SF
Taxes and HOA fees
Tax Annual Amount
500
Building Details
Year built
1920
Number of units
3
Building materials
Brick
Listing Agency:
EXP Realty, LLC
(888) 860-7369
Listed By:
Jason A Jutila · License #607356
(301) 525-6433
Added: Feb 20
Changed: Jun 9
Last Checked: Aug 23 at 3:06AM
MLS# MDBA2199694
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 well-maintained triplex offers three residential units configured with functional layouts. Each unit has a full kitchen and a full bath, along with spacious living areas. The property is designed for independence between tenants, with separate entrances serving the units.
Located in Baltimore City, the property at 517 Mosher Street (21217) is described as convenient to major commuter routes and public transportation, with access to downtown Baltimore and nearby amenities.
The triplex is currently fully rented, and a turnkey property management company is in place to support day-to-day operations. For buyers looking to enter the residential income market or expand an existing portfolio, this structure provides a three-unit setup with independent access and established management. The seller may also consider partial seller financing for qualified buyers.
Located in Baltimore City, the property at 517 Mosher Street (21217) is described as convenient to major commuter routes and public transportation, with access to downtown Baltimore and nearby amenities.
The triplex is currently fully rented, and a turnkey property management company is in place to support day-to-day operations. For buyers looking to enter the residential income market or expand an existing portfolio, this structure provides a three-unit setup with independent access and established management. The seller may also consider partial seller financing for qualified buyers.
Key Highlights
- Brick triplex built in 1920 in Baltimore City
- 3‑unit property with separate entrances
- Each unit includes a full kitchen and a full bath
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
$25,913
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
8.36%
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%
$518,260
$518.3K
Cap Rate 7%
$370,186
$370.2K
Cap Rate 9%
$287,922
$287.9K
Market Conditions
NOI Build-Up for 1,989 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
$50.1K $25.20/SF
− Vacancy
−$3.0K −$1.51/SF
EGI
$47.1K $23.69/SF
− OpEx
−$21.2K −$10.66/SF
NOI
$25.9K $13.03/SF
Area
Baltimore, MD
Vacancy
6.00%
Lease Rate
$25.20 /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%
$518,260
Cap Rate 7%
$370,186
Cap Rate 9%
$287,922
Alternative Uses
Best Use
Multifamily LT 5
$417.3K
$365.1K – $486.8K
NOI $29,209 @ 7.0% cap · market cap 9.42%
Second Best
Apartment 5plus
$370.2K
$323.9K – $431.9K
NOI $25,913 @ 7.0% cap · market cap 8.36%
Theoretical Best
Office A
$476.5K
$417.0K – $555.9K
NOI $33,356 @ 7.0% cap · market cap 10.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,150
Businesses Nearby
Explore this area
Business Placement
Demographics for 21217, MD
30,448
Population
20,064
Households
1.5
Avg Household Size
38
Median Age
22%
College-Educated
83%
High-School Grad
2.1 sq mi
ZIP Area
14,499
Density / Sq Mi
$37,207
Median Household Income
$40,668
Median Earnings
$1,065
Median Rent
$175,900
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?
Triplex - Three rented units with full kitchens and baths, each with its own entrance.
Where is this triplex located?
The property is located at 517 MOSHER Street Baltimore, MD.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: Brick triplex built in 1920 in Baltimore City; 3‑unit property with separate entrances; Each unit includes a full kitchen and a full bath
