Renovated Residential Income
For Sale
$199,999
1 E UNIVERSITY PARKWAY Unit 1304, Baltimore, MD 21218
Thoroughly updated condo with included utilities, secure building access, and proximity to Johns Hopkins University.
Property Size1,070 SF
Days on Market83
Property Features for 1 E UNIVERSITY PARKWAY Unit 1304
General Information
Standard status
Active
Size
1,070 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,155
Amenities
24 hour secure building
garage parking available for rent
Building Details
Building Size
1,070 SF
Year Built
1965
Listing Agency:
Monument Sotheby's International Realty
(410) 967-9498
Listed By:
Chevelle M Welsh · License #624419
(410) 967-9498
Source:
Thehulsmangroup
Added: Jun 1
Changed: Aug 20
Last Checked: Aug 21 at 11:53AM
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 Monument Sotheby's International Realty
Investment Insights
Based on property information with market context.
This 13th-floor condominium offers two bedrooms and two full bathrooms within a secure residential building constructed in 1965. Improvements include replacement windows and sliding doors, a new HVAC water riser, exterior concrete work, and renovations to both bathrooms, including concealed plumbing updates behind the tile walls. The condominium fee covers heating, cooling, electricity, and water.
Located in Baltimore’s Charles Village, the property is near Johns Hopkins University, local restaurants, bars, shopping, and daily services. The building is steps from a Johns Hopkins shuttle and provides city views toward green space and a church. Garage parking is available for rent.
Located in Baltimore’s Charles Village, the property is near Johns Hopkins University, local restaurants, bars, shopping, and daily services. The building is steps from a Johns Hopkins shuttle and provides city views toward green space and a church. Garage parking is available for rent.
Key Highlights
- Two‑bedroom, two‑bath condominium on the 13th floor
- Renovated bathrooms with re‑plumbing behind tile walls
- New windows, sliding doors, and HVAC water riser
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
$12,414
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
6.21%
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%
$248,280
$248.3K
Cap Rate 7%
$177,343
$177.3K
Cap Rate 9%
$137,933
$137.9K
Market Conditions
NOI Build-Up for 1,070 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
$24.1K $22.56/SF
− Vacancy
−$1.6K −$1.47/SF
EGI
$22.6K $21.09/SF
− OpEx
−$10.2K −$9.49/SF
NOI
$12.4K $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%
$248,280
Cap Rate 7%
$177,343
Cap Rate 9%
$137,933
Alternative Uses
Best Use
Apartment 5plus
$177.3K
$155.2K – $206.9K
NOI $12,414 @ 7.0% cap · market cap 6.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$290.9K
$254.6K – $339.4K
NOI $20,364 @ 7.0% cap · market cap 10.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Utilities to site
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 - Thoroughly updated condo with included utilities, secure building access, and proximity to Johns Hopkins University.
Where is this residential income property located?
The property is located at 1 E UNIVERSITY PARKWAY Unit 1304 Baltimore, MD.
What is the asking price?
The asking price for this property is $199,999.
What are key features of this property?
This property features: Two‑bedroom, two‑bath condominium on the 13th floor; Renovated bathrooms with re‑plumbing behind tile walls; New windows, sliding doors, and HVAC water riser
