Mount Vernon Multi-Family
For Sale
$899,998
1113 N CALVERT Street, Baltimore, MD 21202
Multi-Family, BALTIMORE, MD
Property Size4,915 SF
Lot Size0.06 Acres
Price / SF$183.11
Days on Market514
Property Features for 1113 N CALVERT Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
Off Street, Driveway
Interior features
Kitchen - Efficiency, Primary Bath(s), Window Treatments, Wood Floors, Floor Plan - Traditional
Appliances
Washer/Dryer Hookups Only, Dishwasher, Disposal, Dryer, Oven/Range - Electric, Range Hood, Refrigerator, Washer/Dryer Stacked, Washer
Subdivision
MOUNT VERNON PLACE HISTORIC DISTRICT
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
4,915 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
15449
Utilities
Heating system
Central, Forced Air
Cooling system
Central Air
Building Details
Year built
1900
Number of units
1
Building materials
Brick
Architectural style
Other
Listing Agency:
Samson Properties
(240) 724-6550
Listed By:
Rashad Henderson · License #674430
(646) 299-2941
Added: Mar 26, 2025
Changed: Aug 19
Last Checked: Aug 21 at 3:06PM
MLS# MDBA2161560
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.
Located in the heart of historic Mount Vernon in Baltimore, this partially occupied four-unit multi-family property presents an investment opportunity with rental income potential. Each unit features two bedrooms and two bathrooms, wood flooring, central A/C, and an in-unit washer/dryer. Open living/dining areas create a welcoming atmosphere. Private parking is included. The property is within walking distance of Penn Station, UB, MICA, Peabody Institute, restaurants, parks, and public transit. The location provides accessibility for tenants, with access to major transit hubs for commuting within the city and beyond. The property size is 4915 square feet, situated on a lot of approximately 0.0618 acres.
Key Highlights
- Four‑unit multi‑family property in Baltimore, MD, partially occupied
- Monthly rents listed as $1,400–$1,800
- Brick construction with forced air heat and central A/C
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
Lease Details
4
Residential units
Multi-tenant
Tenancy
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 Baltimore's historic Mount Vernon neighborhood.
Where is this quadplex located?
The property is located at 1113 N CALVERT Street 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: Four‑unit multi‑family property in Baltimore, MD, partially occupied; Monthly rents listed as $1,400–$1,800; Brick construction with forced air heat and central A/C
