Four-Unit Apartment Building with
For Sale
Contact for pricing
1125 Saint Paul Street, Baltimore, MD 21202
Fully leased historic building with four one-bedroom, one-bath units plus a ground-level studio.
Property Size4,096 SF
Price / SF$238.04
Days on Market44
Property Features for 1125 Saint Paul Street
General Information
Standard status
Active
Size
4,096 SF
Class
C
Total Parking Spaces
2
Property subtype
Multifamily
Zoning
OR-2
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$29,520
Additional Details
Multifamily Units
5
Building Details
Year Built
1900
Year Renovated
2021
Units
5
Tenancy
Multi
Listing Agency:
Keller Williams Flagship of Maryland
Listed By:
Derrick Rocco Dorkins · License #MD. 582374
Source:
Crexi
Added: Jul 12
Changed: Aug 11
Last Checked: Aug 23 at 2:57PM
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 Keller Williams Flagship of Maryland
Investment Insights
Based on property information with market context.
1125 Saint Paul Street is a historic, well-maintained apartment building that is fully leased. The property includes four spacious one-bedroom, one-bathroom apartments and a cozy ground-level studio, providing a mix of unit configurations within a classic urban setting.
Located in the heart of Mount Vernon in Baltimore City, the building is surrounded by local destinations such as cultural landmarks, dining, and everyday city activity.
This offering provides an income-generating residential building with five total units arranged as four one-bedroom, one-bath residences and one additional ground-level studio.
Located in the heart of Mount Vernon in Baltimore City, the building is surrounded by local destinations such as cultural landmarks, dining, and everyday city activity.
This offering provides an income-generating residential building with five total units arranged as four one-bedroom, one-bath residences and one additional ground-level studio.
Key Highlights
- Historic building built in 1900 located in Mount Vernon (Baltimore City)
- Fully leased property with 4 one‑bedroom, 1‑bath apartments
- Includes a cozy ground‑level studio unit in addition to the four apartments
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
$53,364
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
5.47%
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%
$1,067,280
$1.1M
Cap Rate 7%
$762,343
$762.3K
Cap Rate 9%
$592,933
$592.9K
Market Conditions
NOI Build-Up for 4,096 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
$103.2K $25.20/SF
− Vacancy
−$6.2K −$1.51/SF
EGI
$97.0K $23.69/SF
− OpEx
−$43.7K −$10.66/SF
NOI
$53.4K $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%
$1,067,280
Cap Rate 7%
$762,343
Cap Rate 9%
$592,933
Alternative Uses
Best Use
Apartment 5plus
$762.3K
$667.1K – $889.4K
NOI $53,364 @ 7.0% cap · market cap 5.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$981.3K
$858.6K – $1.14M
NOI $68,690 @ 7.0% cap · market cap 7.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully leased historic building with four one-bedroom, one-bath units plus a ground-level studio.
Where is this apartment building located?
The property is located at 1125 Saint Paul Street Baltimore, MD.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Historic building built in 1900 located in Mount Vernon (Baltimore City); Fully leased property with 4 one‑bedroom, 1‑bath apartments; Includes a cozy ground‑level studio unit in addition to the four apartments
