Residential Income Property with
1 GRISTMILL COURT Unit 202, Baltimore, MD 21208
For Sale
$275,000
A full-service brick building offers staff support, dedicated underground parking, and a separate lower-level storage locker.
Property Size1,920 SF
Price / SF$143.23
Days on Market68
Property Features for 1 GRISTMILL COURT Unit 202
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
full-service building
storage locker
Building Details
Building Size
Year Built
Construction
Listing Agency:
Compass
Listed By:
Patricia Spigel · License MD #75033
(410) 241-9797
Source:
Ghimirehomes
Added: Sep 5
Changed: Nov 7
Last Checked: Nov 10 at 2:51PM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,920-square-foot residence is in a full-service brick building constructed in 1988. Hard-surface flooring runs throughout, with no carpet, and the interior includes ample closet space and built-in storage. A dedicated underground parking space and a separate storage locker on the lower level are included. Building staff provide service to residents.
The property at 1 Gristmill Court, Unit 202, is moments from the shops and restaurants at Woodholme Shopping Center.
The property at 1 Gristmill Court, Unit 202, is moments from the shops and restaurants at Woodholme Shopping Center.
Key Highlights
- 1,920 square feet of residential space
- Full‑service brick building built in 1988
- Hard‑surface flooring throughout; no carpet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,015
Cap Rate
9.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$500,300
$500.3K
Cap Rate 7%
$357,357
$357.4K
Cap Rate 9%
$277,944
$277.9K
Market Conditions
NOI Build-Up for 1,920 SF
Gross rent
$48.4K $25.20/SF
− Vacancy
−$2.9K −$1.51/SF
EGI
$45.5K $23.69/SF
− OpEx
−$20.5K −$10.66/SF
NOI
$25.0K $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 Rate 5%
$500,300
Cap Rate 7%
$357,357
Cap Rate 9%
$277,944
Alternative Uses
Best Use
Apartment 5plus
$357.4K
$312.7K – $416.9K
NOI $25,015 @ 7.0% cap · market cap 9.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$460.0K
$402.5K – $536.6K
NOI $32,198 @ 7.0% cap · market cap 11.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
442
Businesses Nearby
Explore this area
Business Placement
Demographics for 21208, MD
35,007
Population
16,397
Households
2.1
Avg Household Size
46
Median Age
49%
College-Educated
94%
High-School Grad
12.6 sq mi
ZIP Area
2,778
Density / Sq Mi
$90,822
Median Household Income
$55,620
Median Earnings
$1,672
Median Rent
$313,400
Median Home Value
Market
Average Price Trend$/SF for Residential income properties in Baltimore, MD
Properties on Market for Residential income properties in Baltimore
Frequently Asked Questions
What type of property is this?
Residential income property - A full-service brick building offers staff support, dedicated underground parking, and a separate lower-level storage locker.
Where is this residential income property located?
The property is located at 1 GRISTMILL COURT Unit 202 Baltimore, MD.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 1,920 square feet of residential space; Full‑service brick building built in 1988; Hard‑surface flooring throughout; no carpet
