Residential Income Property with Renovated
New
For Sale
$135,000
1101 SAINT PAUL STREET Unit 1809, Baltimore, MD 21202
One-bedroom condominium residence with updated finishes and access to secure-building amenities.
Property Size849 SF
Days on Market4
Property Features for 1101 SAINT PAUL STREET Unit 1809
General Information
Standard status
Active
Size
849 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,603
Amenities
lobby
24-hour concierge
parking garage
on-site store
Building Details
Building Size
849 SF
Year Built
1965
Listing Agency:
Redfin Corp
Listed By:
Hezeldee Klinger
(443) 858-7385
Source:
Thehulsmangroup
Added: Sep 2
Changed: Sep 4
Last Checked: Sep 4 at 2:09PM
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 Redfin Corp
Investment Insights
Based on property information with market context.
This one-bedroom, one-bath condominium residence combines hardwood flooring with stainless steel appliances, granite countertops, and a renovated bathroom. The unit is located in a building constructed in 1965 and includes access to a secure lobby, 24-hour concierge service, a parking garage, and an on-site store.
The property is in Baltimore’s Mount Vernon neighborhood, with Penn Station, museums, hospitals, retail, and dining in the surrounding area. Its central setting provides access to downtown Baltimore and nearby urban amenities.
The property is in Baltimore’s Mount Vernon neighborhood, with Penn Station, museums, hospitals, retail, and dining in the surrounding area. Its central setting provides access to downtown Baltimore and nearby urban amenities.
Key Highlights
- One‑bedroom, one‑bath condominium residence
- Hardwood floors, stainless steel appliances, and granite countertops
- Renovated bathroom
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
$11,061
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
8.19%
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%
$221,220
$221.2K
Cap Rate 7%
$158,014
$158.0K
Cap Rate 9%
$122,900
$122.9K
Market Conditions
NOI Build-Up for 849 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
$21.4K $25.20/SF
− Vacancy
−$1.3K −$1.51/SF
EGI
$20.1K $23.69/SF
− OpEx
−$9.1K −$10.66/SF
NOI
$11.1K $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%
$221,220
Cap Rate 7%
$158,014
Cap Rate 9%
$122,900
Alternative Uses
Best Use
Apartment 5plus
$158.0K
$138.3K – $184.4K
NOI $11,061 @ 7.0% cap · market cap 8.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$203.4K
$178.0K – $237.3K
NOI $14,238 @ 7.0% cap · market cap 10.55%
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
4,539
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 condominium residence with updated finishes and access to secure-building amenities.
Where is this residential income property located?
The property is located at 1101 SAINT PAUL STREET Unit 1809 Baltimore, MD.
What is the asking price?
The asking price for this property is $135,000.
What are key features of this property?
This property features: One‑bedroom, one‑bath condominium residence; Hardwood floors, stainless steel appliances, and granite countertops; Renovated bathroom
