Multifamily Property with Central
For Sale
$284,990
1100 MERIDENE DRIVE, Baltimore, MD 21239
Traditional Baltimore City property with gas service, heat-pump equipment, and a kitchen equipped with modern appliances.
Property Size1,846 SF
Days on Market46
Property Features for 1100 MERIDENE DRIVE
General Information
Standard status
Active
Size
1,846 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$2,882
Building Details
Building Size
1,846 SF
Year Built
1948
Listing Agency:
Bennett Realty Solutions
(240) 847-4605
Listed By:
Yannik Cudjoe-Virgil · License #0672824
(240) 847-4605
Source:
Thehulsmangroup
Added: Jul 18
Changed: Aug 30
Last Checked: Aug 31 at 9:22PM
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 Bennett Realty Solutions
Investment Insights
Based on property information with market context.
This Baltimore City multifamily property was built in 1948 and presents a traditional exterior. Interior systems include central air, a heat pump, radiant heating, and gas service. The kitchen is equipped with a gas cooktop, gas water heater, microwave, ENERGY STAR Qualified refrigerator, ENERGY STAR Qualified dishwasher, and additional ENERGY STAR Qualified appliances.
The property is zoned R-5 and is located on Meridene Drive in Baltimore, Maryland. Access is described from Northern Parkway via Chinquapin Road and Meridene Drive.
The property is zoned R-5 and is located on Meridene Drive in Baltimore, Maryland. Access is described from Northern Parkway via Chinquapin Road and Meridene Drive.
Key Highlights
- Multifamily property zoned R‑5
- Built in 1948
- Central air and heat‑pump systems
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
$24,050
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
8.44%
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%
$481,000
$481.0K
Cap Rate 7%
$343,571
$343.6K
Cap Rate 9%
$267,222
$267.2K
Market Conditions
NOI Build-Up for 1,846 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
$46.5K $25.20/SF
− Vacancy
−$2.8K −$1.51/SF
EGI
$43.7K $23.69/SF
− OpEx
−$19.7K −$10.66/SF
NOI
$24.1K $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%
$481,000
Cap Rate 7%
$343,571
Cap Rate 9%
$267,222
Alternative Uses
Best Use
Apartment 5plus
$343.6K
$300.6K – $400.8K
NOI $24,050 @ 7.0% cap · market cap 8.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$442.3K
$387.0K – $516.0K
NOI $30,958 @ 7.0% cap · market cap 10.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
847
Businesses Nearby
Explore this area
Business Placement
Demographics for 21239, MD
26,605
Population
12,621
Households
2.1
Avg Household Size
40
Median Age
33%
College-Educated
93%
High-School Grad
2.9 sq mi
ZIP Area
9,174
Density / Sq Mi
$64,288
Median Household Income
$48,424
Median Earnings
$1,337
Median Rent
$191,200
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?
Multifamily property - Traditional Baltimore City property with gas service, heat-pump equipment, and a kitchen equipped with modern appliances.
Where is this multifamily property located?
The property is located at 1100 MERIDENE DRIVE Baltimore, MD.
What is the asking price?
The asking price for this property is $284,990.
What are key features of this property?
This property features: Multifamily property zoned R‑5; Built in 1948; Central air and heat‑pump systems
