Renovated Corner Residential Income
For Sale
$170,000
1 E UNIVERSITY PARKWAY Unit 1205, Baltimore, MD 21218
Two-bedroom unit with updated finishes and condo fees covering major utilities.
Property Size1,197 SF
Days on Market137
Property Features for 1 E UNIVERSITY PARKWAY Unit 1205
General Information
Standard status
Active
Size
1,197 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,531
Amenities
walk out balcony
24hour secure building
Building Details
Building Size
1,197 SF
Year Built
1965
Listing Agency:
Compass
(410) 493-6854
Listed By:
Magan M Drane · License #607711
(410) 493-6854
Source:
Thehulsmangroup
Added: Apr 9
Changed: Aug 21
Last Checked: Aug 22 at 11:44AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass
Investment Insights
Based on property information with market context.
This corner residential income property is a 2BR/2BA unit in a building constructed in 1965. The residence has been renovated with an updated kitchen featuring stainless steel appliances, new cabinetry, countertops, and backsplash. Wood flooring, a balcony, abundant natural light, a walk-in closet, and refreshed bathroom fixtures add to the interior finish package.
Condo fees include heating, cooling, electric, and water. Garage parking is available for rent. The building provides 24-hour security, and the property is located at 1 E University Parkway in Baltimore, with access to the JHU shuttle nearby.
Condo fees include heating, cooling, electric, and water. Garage parking is available for rent. The building provides 24-hour security, and the property is located at 1 E University Parkway in Baltimore, with access to the JHU shuttle nearby.
Key Highlights
- Renovated 2BR/2BA corner unit with panoramic views
- Updated kitchen with stainless steel appliances, cabinetry, countertops, and backsplash
- Condo fee includes heating, cooling, electric, and water
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
$13,887
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
8.17%
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%
$277,740
$277.7K
Cap Rate 7%
$198,386
$198.4K
Cap Rate 9%
$154,300
$154.3K
Market Conditions
NOI Build-Up for 1,197 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
$27.0K $22.56/SF
− Vacancy
−$1.8K −$1.47/SF
EGI
$25.2K $21.09/SF
− OpEx
−$11.4K −$9.49/SF
NOI
$13.9K $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%
$277,740
Cap Rate 7%
$198,386
Cap Rate 9%
$154,300
Alternative Uses
Best Use
Apartment 5plus
$198.4K
$173.6K – $231.5K
NOI $13,887 @ 7.0% cap · market cap 8.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$325.4K
$284.8K – $379.7K
NOI $22,781 @ 7.0% cap · market cap 13.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,023
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom unit with updated finishes and condo fees covering major utilities.
Where is this residential income property located?
The property is located at 1 E UNIVERSITY PARKWAY Unit 1205 Baltimore, MD.
What is the asking price?
The asking price for this property is $170,000.
What are key features of this property?
This property features: Renovated 2BR/2BA corner unit with panoramic views; Updated kitchen with stainless steel appliances, cabinetry, countertops, and backsplash; Condo fee includes heating, cooling, electric, and water
