Brick Duplex
For Sale
$380,000
1051-1053 DESOTO RD, Baltimore, MD 21223
Four residential units across two adjoining brick duplexes with updated interiors, separate utility metering, and private rear spaces.
Property Size2,432 SF
Price / SF$156.25
Days on Market116
Property Features for 1051-1053 DESOTO RD
General Information
Standard status
Active
Size
2,432 SF
Property subtype
Multi-Family
Listing Agency:
Homecoin.com
(888) 400-2513
Listed By:
Jonathan Minerick · License #01523060
Source:
Towncentermd
Added: May 8
Changed: Aug 30
Last Checked: Aug 25 at 9:59AM
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 Homecoin.com
Investment Insights
Based on property information with market context.
This residential income property includes two attached, side-by-side brick duplexes at 1051 and 1053 Desoto Road, comprising four units and 2,432 square feet. Built in 1942, the buildings have received updates to flooring, interior paint, bathroom fixtures, and HVAC service. Each property includes private rear outdoor space, while the interiors offer gas ranges and refrigerators. The 1053 building is an end unit, and 1051 is the adjoining center unit.
The portfolio is positioned at the corner of Cowan Road and Desoto Road, with access from Wilkens Avenue. It is within Baltimore city limits and carries R-6 zoning. The properties use separate gas and electric meters and are connected to public water and sewer. Solar energy service is provided through Sunrun. Both duplexes are offered as-is, and Lead Risk Reduction Certificates are available.
The portfolio is positioned at the corner of Cowan Road and Desoto Road, with access from Wilkens Avenue. It is within Baltimore city limits and carries R-6 zoning. The properties use separate gas and electric meters and are connected to public water and sewer. Solar energy service is provided through Sunrun. Both duplexes are offered as-is, and Lead Risk Reduction Certificates are available.
Key Highlights
- Four‑unit package across two side‑by‑side brick duplexes
- 2,432 square feet across properties built in 1942
- R‑6 zoning within Baltimore city limits
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
$31,685
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
8.34%
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%
$633,700
$633.7K
Cap Rate 7%
$452,643
$452.6K
Cap Rate 9%
$352,056
$352.1K
Market Conditions
NOI Build-Up for 2,432 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
$61.3K $25.20/SF
− Vacancy
−$3.7K −$1.51/SF
EGI
$57.6K $23.69/SF
− OpEx
−$25.9K −$10.66/SF
NOI
$31.7K $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%
$633,700
Cap Rate 7%
$452,643
Cap Rate 9%
$352,056
Alternative Uses
Best Use
Multifamily LT 5
$510.2K
$446.4K – $595.3K
NOI $35,715 @ 7.0% cap · market cap 9.40%
Second Best
Apartment 5plus
$452.6K
$396.1K – $528.1K
NOI $31,685 @ 7.0% cap · market cap 8.34%
Theoretical Best
Office A
$582.6K
$509.8K – $679.8K
NOI $40,785 @ 7.0% cap · market cap 10.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,167
Businesses Nearby
Explore this area
Business Placement
Demographics for 21223, MD
20,438
Population
13,034
Households
1.6
Avg Household Size
37
Median Age
12%
College-Educated
75%
High-School Grad
2.6 sq mi
ZIP Area
7,861
Density / Sq Mi
$41,828
Median Household Income
$33,367
Median Earnings
$1,110
Median Rent
$93,700
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?
Duplex - Four residential units across two adjoining brick duplexes with updated interiors, separate utility metering, and private rear spaces.
Where is this duplex located?
The property is located at 1051-1053 DESOTO RD Baltimore, MD.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: Four‑unit package across two side‑by‑side brick duplexes; 2,432 square feet across properties built in 1942; R‑6 zoning within Baltimore city limits
