Mount Vernon Multifamily Investment
For Sale
$899,998
1113 N CALVERT St, Baltimore, MD 21202
Four-unit property in historic Mount Vernon with strong rental income.
Property Size4,915 SF
Lot Size0.06 Acres
Days on Market166
Property Features for 1113 N CALVERT St
General Information
Standard status
Active
Size
4,915 SF
Lot size
0.06 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$15,449
Building Details
Building Size
4,915 SF
Year Built
1900
Units
1
Listing Agency:
Samson Properties
(443) 301-4972
Listed By:
Ronni D Cannady · License #670005
(443) 301-4972
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 22 at 7:16AM
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 Samson Properties
Investment Insights
Based on property information with market context.
Located in the heart of historic Mount Vernon in Baltimore, MD, this partially occupied four-unit multi-family property presents an investment opportunity with rental income potential. Each unit features 2 bedrooms and 2 bathrooms, wood flooring, central A/C, and an in-unit washer/dryer. The units also offer open living/dining areas. Private parking is available. The property is within walking distance of Penn Station, UB, MICA, Peabody Institute, restaurants, parks, and public transit. Access to major transit hubs makes this a location for professionals, students, and city dwellers. Monthly rents range from $1,400 to $1,800. An assumable 2.25% VA Loan is available for qualified buyers.
Key Highlights
- Assumable 2.25% VA Loan available for qualified buyers.
- Prime location in historic Mount Vernon, Baltimore.
- Four‑unit multi‑family property with strong rental income potential.
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
$72,178
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
8.02%
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%
$1,443,560
$1.4M
Cap Rate 7%
$1,031,114
$1.0M
Cap Rate 9%
$801,978
$802.0K
Market Conditions
NOI Build-Up for 4,915 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
$109.1K $22.20/SF
− Vacancy
−$6.0K −$1.22/SF
EGI
$103.1K $20.98/SF
− OpEx
−$30.9K −$6.29/SF
NOI
$72.2K $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%
$1,443,560
Cap Rate 7%
$1,031,114
Cap Rate 9%
$801,978
Alternative Uses
Best Use
Multifamily LT 5
$1.03M
$902.2K – $1.20M
NOI $72,178 @ 7.0% cap · market cap 8.02%
Second Best
Apartment 5plus
$914.8K
$800.4K – $1.07M
NOI $64,035 @ 7.0% cap · market cap 7.12%
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,425 @ 7.0% cap · market cap 9.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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?
Quadplex - Four-unit property in historic Mount Vernon with strong rental income.
Where is this quadplex located?
The property is located at 1113 N CALVERT St Baltimore, MD.
What is the asking price?
The asking price for this property is $899,998.
What are key features of this property?
This property features: Assumable 2.25% VA Loan available for qualified buyers.; Prime location in historic Mount Vernon, Baltimore.; Four‑unit multi‑family property with strong rental income potential.
