Renovated Two-Unit
New
For Sale
$650,000
1112 GUILFORD Avenue, Baltimore, MD 21202
MULTI_FAMILY - Other - BALTIMORE, MD
Property Size2,069 SF
Lot Size0.05 Acres
Price / SF$314.16
Days on Market2
Property Features for 1112 GUILFORD Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking features
On Street
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
2,069 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
7779
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1900
Number of units
2
Building materials
Brick
Architectural style
Other
Listing Agency:
Smart Realty, LLC
(301) 445-1395
Listed By:
Yenni S Felix · License #626457
(240) 406-6449
Added: Aug 13
Last Checked: Aug 14 at 3:06PM
MLS# MDBA2227806
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 2,069-square-foot duplex contains two residential units within a brick building originally constructed in 1900. The property underwent a comprehensive renovation that included electrical, plumbing, and appliance updates. Unit 1 provides two bedrooms, two full bathrooms, one half-bath, a family room, living room, kitchen, and dining area. Unit 2 includes two bedrooms, two bathrooms, living room, dining area, and a balcony.
Each residence has its own electric meter. Central heating and central air conditioning serve the property, while on-street parking is available. The 0.0473-acre parcel is located at 1112 Guilford Avenue in Baltimore, Maryland 21202, within Baltimore City.
Each residence has its own electric meter. Central heating and central air conditioning serve the property, while on-street parking is available. The 0.0473-acre parcel is located at 1112 Guilford Avenue in Baltimore, Maryland 21202, within Baltimore City.
Key Highlights
- Two‑unit duplex with 2,069 square feet of building area
- Comprehensive renovation included electrical, plumbing, and appliance updates
- Unit 1 has 2 bedrooms, 2 full bathrooms, and 1 half‑bath
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
$30,384
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
4.67%
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%
$607,680
$607.7K
Cap Rate 7%
$434,057
$434.1K
Cap Rate 9%
$337,600
$337.6K
Market Conditions
NOI Build-Up for 2,069 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
$45.9K $22.20/SF
− Vacancy
−$2.5K −$1.22/SF
EGI
$43.4K $20.98/SF
− OpEx
−$13.0K −$6.29/SF
NOI
$30.4K $14.69/SF
Area
Baltimore, MD
Vacancy
5.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
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%
$607,680
Cap Rate 7%
$434,057
Cap Rate 9%
$337,600
Alternative Uses
Best Use
Multifamily LT 5
$434.1K
$379.8K – $506.4K
NOI $30,384 @ 7.0% cap · market cap 4.67%
Second Best
Apartment 5plus
$385.1K
$337.0K – $449.3K
NOI $26,956 @ 7.0% cap · market cap 4.15%
Theoretical Best
Office A
$495.7K
$433.7K – $578.3K
NOI $34,697 @ 7.0% cap · market cap 5.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
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
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 - Two separately metered residences offer distinct living areas and updated building systems.
Where is this duplex located?
The property is located at 1112 GUILFORD Avenue Baltimore, MD.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,069 square feet of building area; Comprehensive renovation included electrical, plumbing, and appliance updates; Unit 1 has 2 bedrooms, 2 full bathrooms, and 1 half‑bath
