Penthouse Residential Income
For Sale
$95,000
1011 HUNTER STREET N Unit F2, Baltimore, MD 21202
One-bedroom condo with elevator access, skyline views, and recently replaced carpets.
Property Size538 SF
Days on Market162
Property Features for 1011 HUNTER STREET N Unit F2
General Information
Standard status
Active
Size
538 SF
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,800
Building Details
Building Size
538 SF
Year Built
1986
Listing Agency:
Flucas & Flucas Realty
Listed By:
Regina Flucas · License #519259
(443) 525-7546
Source:
Thehulsmangroup
Added: Mar 28
Changed: Sep 3
Last Checked: Sep 4 at 11:23AM
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 Flucas & Flucas Realty
Investment Insights
Based on property information with market context.
This penthouse-level residential income property is a one-bedroom, one-bathroom condominium with expansive exterior windows, city skyline views, and substantial natural light. The carpets were replaced in 2024, while the washing machine was replaced in 2021. Building management regularly services the HVAC system and water heater, and elevator access serves the unit. The building was constructed in 2005.
The property is in Baltimore’s Mount Vernon neighborhood near Mount Vernon Square, with coffee shops, restaurants, and cultural landmarks in the surrounding area. The Inner Harbor and Whole Foods are each approximately 5 minutes away, the Target shopping center in Canton is 10 minutes away, and Towson is 20 minutes away by the stated travel times.
The property is in Baltimore’s Mount Vernon neighborhood near Mount Vernon Square, with coffee shops, restaurants, and cultural landmarks in the surrounding area. The Inner Harbor and Whole Foods are each approximately 5 minutes away, the Target shopping center in Canton is 10 minutes away, and Towson is 20 minutes away by the stated travel times.
Key Highlights
- Penthouse‑level one‑bedroom, one‑bathroom condominium
- Unobstructed Baltimore city skyline views through exterior windows
- Carpets replaced in 2024; washing machine replaced in 2021
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
$7,009
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
7.38%
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%
$140,180
$140.2K
Cap Rate 7%
$100,129
$100.1K
Cap Rate 9%
$77,878
$77.9K
Market Conditions
NOI Build-Up for 538 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
$13.6K $25.20/SF
− Vacancy
−$813 −$1.51/SF
EGI
$12.7K $23.69/SF
− OpEx
−$5.7K −$10.66/SF
NOI
$7.0K $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 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%
$140,180
Cap Rate 7%
$100,129
Cap Rate 9%
$77,878
Alternative Uses
Best Use
Apartment 5plus
$100.1K
$87.6K – $116.8K
NOI $7,009 @ 7.0% cap · market cap 7.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$128.9K
$112.8K – $150.4K
NOI $9,022 @ 7.0% cap · market cap 9.50%
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
4,679
Businesses Nearby
Explore this area
Business Placement
Demographics for 21202, MD
22,247
Population
12,731
Households
1.7
Avg Household Size
33
Median Age
48%
College-Educated
86%
High-School Grad
1.6 sq mi
ZIP Area
13,904
Density / Sq Mi
$61,578
Median Household Income
$53,609
Median Earnings
$1,497
Median Rent
$307,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom condo with elevator access, skyline views, and recently replaced carpets.
Where is this residential income property located?
The property is located at 1011 HUNTER STREET N Unit F2 Baltimore, MD.
What is the asking price?
The asking price for this property is $95,000.
What are key features of this property?
This property features: Penthouse‑level one‑bedroom, one‑bathroom condominium; Unobstructed Baltimore city skyline views through exterior windows; Carpets replaced in 2024; washing machine replaced in 2021
