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    Renovated Multifamily Property in Baltimore Title is generated by Realmo AI

    1112 North Eden Street, Baltimore, MD 21213

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    Claim this Listing
    For Sale
    $429,999

    Turnkey, renovated multifamily property with income potential in Baltimore's Oliver/Gay Street corridor.

    Type:Multi-Family / Other
    Property size:
    2,064 SF
    Price / SF:
    $208/SF
    Added:
    Oct 12, 2025
    Days on Market:
    236
    Last Refresh:
    May 13 at 8:49 pm

    Property Features for 1112 North Eden Street

    General Information

    Standard status
    Active
    Size
    2,064 SF
    Property subtype
    Multi-Family / Other

    Building Details

    Year Built
    1900

    We can help!

    Listing Contact
    Yaakov Kanevsky

    Listing agent Yaakov Kanevsky

    Listing office Midfield Realty

    Listing date Oct 12, 2025

    Source Compass

    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 Midfield Realty

    HighLights

    • Projected 11.43% pro forma cap rate offers strong in‑place cash flow and upside potential.
    • Fully renovated in 2021‑2022 with six turnkey units (3 one‑bedroom, 3 studio).
    • Pro forma gross income projected to reach $85,986 in Year 1 with full occupancy and market rents.
    • Located in Baltimore’s revitalizing Oliver/Gay Street corridor with excellent access to downtown.
    • Each unit features updated kitchens with appliances and newer HVAC systems (under 5 years).
    • Tenants pay their own utilities, ensuring efficient operations and reduced owner expenses.

    Overview

    The property at 1112 N Eden St, Baltimore, MD, features six turnkey units, including three one-bedroom and three studio apartments. Fully renovated in 2021-2022, the property combines historic charm with modern finishes. Each unit includes updated kitchens with appliances and newer HVAC systems under 5 years old. Individual gas and electric meters are installed, with tenants responsible for their own utility payments. The property currently generates $45,927 in gross rental income. Pro forma gross income is projected to reach $85,986 in Year 1, supported by full occupancy and market rents. The property is expected to achieve an 11.43% pro forma cap rate. Located in Baltimore’s revitalizing Oliver/Gay Street corridor, the property offers access to downtown employment, education, and transit. Major nearby employers include Johns Hopkins University and the University of Maryland Medical System. Residents benefit from proximity to top schools, multiple bus and metro routes, and attractions like Patterson Park, the Inner Harbor, and the National Aquarium. The property size is 2064 square feet.

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $52.0k $25.20
    − Vacancy −$3.1k −$1.51
    EGI $48.9k $23.69
    − OpEx −$22.0k −$10.66
    NOI $26.9k $13.03
    2,064 SF · lease $25.20/SF/yr · vacancy 6.00% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $384.2K
    $336.1K – $448.2K (±1% cap)
    NOI $26,891 @ 7.0% cap · market cap 6.25%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $494.5K
    $432.7K – $576.9K (±1% cap)
    NOI $34,613 @ 7.0% cap · market cap 8.05%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Baltimore
    County
    Baltimore
    State
    Maryland
    Longitude
    -76.5997723
    Latitude
    39.3034544

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    FAQs

    What type of property is this?
    Apartment building - Turnkey, renovated multifamily property with income potential in Baltimore's Oliver/Gay Street corridor.
    Where is this apartment building located?
    The property is located at 1112 North Eden Street Baltimore, MD.
    What is the asking price?
    The asking price for this property is $429,999.
    What are key features of this property?
    This property features: Projected 11.43% pro forma cap rate offers strong in‑place cash flow and upside potential.; Fully renovated in 2021‑2022 with six turnkey units (3 one‑bedroom, 3 studio).; Pro forma gross income projected to reach $85,986 in Year 1 with full occupancy and market rents.
    (410) 324-6939
    We can help!
    Listing Contact
    Yaakov Kanevsky
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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