Upgraded Residential Income
For Sale
$899,000
1200 STEUART STREET Unit 1711, Baltimore, MD 21230
Condominium residence with expansive glazing, renovated finishes, custom storage, and extensive building amenities.
Property Size2,055 SF
Days on Market154
Property Features for 1200 STEUART STREET Unit 1711
General Information
Standard status
Active
Size
2,055 SF
Total Parking Spaces
2
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$17,101
Amenities
24/7 front desk service
fitness center
game and billiards room
sky lounge
meeting space
guest parking
Building Details
Building Size
2,055 SF
Year Built
2008
Listing Agency:
Cummings & Co. Realtors
(410) 303-8700
Listed By:
Angela M Stevens · License #96906
(410) 303-8700
Source:
Barnesrealestatecompany
Added: Mar 8
Changed: Aug 8
Last Checked: Aug 8 at 9:00AM
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 Cummings & Co. Realtors
Investment Insights
Based on property information with market context.
This 2008 condominium residence at 1200 Steuart Street, Unit 1711, features a freshly painted interior, refinished hardwood floors, 14-foot ceilings, and floor-to-ceiling windows. The open layout is complemented by Viking appliances, enlarged custom cabinetry, pantry storage, integrated AV, whole-home audio, custom living room built-ins, and automated electric blinds. The primary suite includes a remodeled bath with heated floors and a custom walk-in closet.
Silo Point provides 24/7 front desk service, a fitness center, game and billiards room, sky lounge, meeting space, and guest parking. The residence includes two secure parking spaces.
Silo Point provides 24/7 front desk service, a fitness center, game and billiards room, sky lounge, meeting space, and guest parking. The residence includes two secure parking spaces.
Key Highlights
- 14‑foot ceilings and floor‑to‑ceiling windows
- Fresh paint and refinished hardwood floors
- Viking appliances, expanded cabinetry, and pantry storage
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
$26,773
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
2.98%
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%
$535,460
$535.5K
Cap Rate 7%
$382,471
$382.5K
Cap Rate 9%
$297,478
$297.5K
Market Conditions
NOI Build-Up for 2,055 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
$51.8K $25.20/SF
− Vacancy
−$3.1K −$1.51/SF
EGI
$48.7K $23.69/SF
− OpEx
−$21.9K −$10.66/SF
NOI
$26.8K $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%
$535,460
Cap Rate 7%
$382,471
Cap Rate 9%
$297,478
Alternative Uses
Best Use
Apartment 5plus
$382.5K
$334.7K – $446.2K
NOI $26,773 @ 7.0% cap · market cap 2.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$492.3K
$430.8K – $574.4K
NOI $34,462 @ 7.0% cap · market cap 3.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
557
Businesses Nearby
Explore this area
Business Placement
Demographics for 21230, MD
36,660
Population
18,070
Households
2
Avg Household Size
33
Median Age
59%
College-Educated
88%
High-School Grad
6.3 sq mi
ZIP Area
5,819
Density / Sq Mi
$94,164
Median Household Income
$69,973
Median Earnings
$1,771
Median Rent
$327,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium residence with expansive glazing, renovated finishes, custom storage, and extensive building amenities.
Where is this residential income property located?
The property is located at 1200 STEUART STREET Unit 1711 Baltimore, MD.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 14‑foot ceilings and floor‑to‑ceiling windows; Fresh paint and refinished hardwood floors; Viking appliances, expanded cabinetry, and pantry storage
