Brick Quadplex
For Sale
$370,000
1051-1053 DESOTO Road, Baltimore, MD 21223
Multi-Family, BALTIMORE, MD
Property Size2,432 SF
Lot Size0.14 Acres
Price / SF$152.14
Days on Market140
Property Features for 1051-1053 DESOTO Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking
4
Parking features
Fenced, Assigned, Carport, Driveway, On Street
Appliances
Refrigerator, Oven/Range - Gas
Subdivision
MORRELL PARK
Elementary school district
BALTIMORE CITY PUBLIC SCHOOLS
Middle school district
BALTIMORE CITY PUBLIC SCHOOLS
High school district
BALTIMORE CITY PUBLIC SCHOOLS
Standard status
Active
Size
2,432 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
2429
Utilities
Heating system
Central, Forced Air
Cooling system
Ceiling Fan(s), Window Unit(s)
Amenities
private rear space
Building Details
Year built
1942
Number of units
4
Building materials
Brick, Masonry
Architectural style
Other
Listing Agency:
Homecoin.com
(888) 400-2513
Listed By:
Jonathan Minerick · License #5014919
(404) 388-9441
Added: Apr 29
Changed: Sep 13
Last Checked: Sep 15 at 5:06PM
MLS# MDBA2212750
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This quadplex portfolio comprises two neighboring brick duplexes totaling 2,432 square feet on a 0.1378-acre parcel. The 1942-built properties include a basement, carport and driveway parking, fenced areas, assigned spaces, and on-street parking. Each building has private rear space, and the package is offered as-is.
The residences are equipped with public water and sewer, separately metered gas and electric service, and solar energy service through Sunrun. Recent work includes flooring, interior paint, bathroom fixtures, and serviced HVAC systems. Heating is provided by forced air and central systems, while cooling includes window units and ceiling fans. The properties are positioned at the corner of Cowan Rd and Desoto Rd, near Wilkens Avenue, with access to Ascension Saint Agnes Hospital, I-95, I-295, MARC, and commuter routes. Lead Risk Reduction Certificates are available.
The residences are equipped with public water and sewer, separately metered gas and electric service, and solar energy service through Sunrun. Recent work includes flooring, interior paint, bathroom fixtures, and serviced HVAC systems. Heating is provided by forced air and central systems, while cooling includes window units and ceiling fans. The properties are positioned at the corner of Cowan Rd and Desoto Rd, near Wilkens Avenue, with access to Ascension Saint Agnes Hospital, I-95, I-295, MARC, and commuter routes. Lead Risk Reduction Certificates are available.
Key Highlights
- Four‑unit portfolio consisting of two side‑by‑side brick duplexes
- 2,432 square feet on a 0.1378‑acre parcel
- Built in 1942 with recent flooring, paint, bathroom, and HVAC updates
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
8.56%
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 9.65%
Second Best
Apartment 5plus
$452.6K
$396.1K – $528.1K
NOI $31,685 @ 7.0% cap · market cap 8.56%
Theoretical Best
Office A
$582.6K
$509.8K – $679.8K
NOI $40,785 @ 7.0% cap · market cap 11.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Two adjoining duplex buildings provide separately metered residential units with private rear space.
Where is this quadplex located?
The property is located at 1051-1053 DESOTO Road Baltimore, MD.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: Four‑unit portfolio consisting of two side‑by‑side brick duplexes; 2,432 square feet on a 0.1378‑acre parcel; Built in 1942 with recent flooring, paint, bathroom, and HVAC updates
