Two-Bedroom Residential Income
For Sale
$545,000
1200 STEUART STREET Unit 312, Baltimore, MD 21230
Updated condominium residence with water and city views, private balcony, contemporary finishes, and two reserved garage spaces.
Property Size1,859 SF
Price / SF$293.17
Days on Market259
Property Features for 1200 STEUART STREET Unit 312
General Information
Standard status
Active
Size
1,859 SF
Total Parking Spaces
2
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2.5BA
Multifamily Units
1
Parking per Unit
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$11,260
Amenities
24/7 Concierge
secured parking
fitness center with yoga studio
game room
private treatment/massage room
19th floor Sky Lounge
designated pet area
private balcony
Building Details
Building Size
1,859 SF
Year Built
2008
Listing Agency:
Cummings & Co. Realtors
Listed By:
Charles A Van Swol · License #604985
(443) 280-2887
Source:
Thehulsmangroup
Added: Dec 18, 2025
Changed: Aug 28
Last Checked: Sep 1 at 11:42PM
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 1,859-square-foot residence at Silo Point includes two bedrooms and two and a half baths. Floor-to-ceiling windows bring city and water views into the living spaces, while hardwood flooring, neutral paint, custom closets, updated bathrooms, and motorized Lutron blinds contribute to the interior finish package. A renovated kitchen features Fisher & Paykel appliances, an induction stove, premium cabinetry, granite counters, soft-close drawers, and custom tilework. The primary suite offers a walk-in closet with built-ins, dual sinks, a soaking tub, blackout curtains, and water and city views. The second bedroom has a private bath and sound barrier. A tiled private balcony and two reserved garage parking spaces complete the residence.
Silo Point provides 24/7 concierge service, secured parking, a fitness center with yoga studio, game room, treatment and massage room, pet area, and a 19th-floor Sky Lounge with harbor and city views. The property is near Latrobe Park, restaurants, and a supermarket, with access to I-95, 295, 395, and BWI airport. Built in 2008.
Silo Point provides 24/7 concierge service, secured parking, a fitness center with yoga studio, game room, treatment and massage room, pet area, and a 19th-floor Sky Lounge with harbor and city views. The property is near Latrobe Park, restaurants, and a supermarket, with access to I-95, 295, 395, and BWI airport. Built in 2008.
Key Highlights
- 1,859‑square‑foot residence with two bedrooms and two and a half baths
- Floor‑to‑ceiling windows provide direct city and water views
- Updated kitchen with Fisher & Paykel appliances and induction stove
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
$24,220
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
4.44%
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%
$484,400
$484.4K
Cap Rate 7%
$346,000
$346.0K
Cap Rate 9%
$269,111
$269.1K
Market Conditions
NOI Build-Up for 1,859 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
$46.8K $25.20/SF
− Vacancy
−$2.8K −$1.51/SF
EGI
$44.0K $23.69/SF
− OpEx
−$19.8K −$10.66/SF
NOI
$24.2K $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%
$484,400
Cap Rate 7%
$346,000
Cap Rate 9%
$269,111
Alternative Uses
Best Use
Apartment 5plus
$346.0K
$302.8K – $403.7K
NOI $24,220 @ 7.0% cap · market cap 4.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$445.4K
$389.7K – $519.6K
NOI $31,176 @ 7.0% cap · market cap 5.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
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 - Updated condominium residence with water and city views, private balcony, contemporary finishes, and two reserved garage spaces.
Where is this residential income property located?
The property is located at 1200 STEUART STREET Unit 312 Baltimore, MD.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: 1,859‑square‑foot residence with two bedrooms and two and a half baths; Floor‑to‑ceiling windows provide direct city and water views; Updated kitchen with Fisher & Paykel appliances and induction stove
