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    Renovated Two-Unit Brick Home Title is generated by Realmo AI

    1215 Dorchester Avenue, Baltimore, MD 21207

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    For Sale
    $379,900

    Renovated 2-unit home with large lot near shopping centers.

    Type:Multi-Family / Fee Simple
    Property size:
    2,240 SF
    Price / SF:
    $169/SF
    Added:
    Jan 16, 2026
    Days on Market:
    138
    Last Refresh:
    Mar 13 at 6:53 pm

    Property Features for 1215 Dorchester Avenue

    General Information

    Standard status
    Active
    Size
    2,240 SF
    Property subtype
    Multi-Family / Fee Simple

    Building Details

    Year Built
    1962

    We can help!

    Listing Contact
    Rachel Adler

    Listing agent Rachel Adler License #86195

    Listing office Realty USA

    Listing date Jan 16, 2026

    Source Compass

    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 Realty USA

    HighLights

    • Renovated 2‑unit brick home featuring two kitchens with new stoves (2025) and dishwashers; includes a new washer and gas dryer (2025).
    • Enjoy the large, level, fenced lot with gazebo and large shed.
    • Separate entrance to the lower level with 2 bedrooms (egress windows) and 2 additional multi‑use rooms.
    • Recent upgrades (2024): new gas central air conditioning, furnace, and hot water heater.
    • Conveniently located within 0.5 miles of Eastview and Westview Shopping Centers and 3.5 minutes from 40E and beltway exits.
    • The upper floor boasts 3 bedrooms and 2 full bathrooms, with luxury vinyl flooring and ceramic tile throughout.

    Overview

    This renovated 2-level, 2-unit brick home features a large, level, fenced lot with a gazebo and a large shed. The property contains two kitchens, each equipped with new stoves (2025). The kitchens also feature dishwashers, with the main level unit's dishwasher installed in 2025. A new washer and gas dryer were installed in 2025. Recessed lighting, luxury vinyl flooring, and ceramic tile are present throughout the home. The upper floor includes 3 bedrooms and 2 full bathrooms. The lower level has a separate entrance and contains 2 bedrooms with egress windows, plus 2 additional rooms suitable for multiple uses. In 2024, the central air conditioning (gas), furnace (gas), and hot water heater (gas) were replaced. The property is located within a half-mile of Eastview and Westview Shopping Centers, which include restaurants and stores such as Chick-Fil-A, Lowe's, and Sam's Club. The location offers convenient access to 40E and beltway exits within a 3.5-minute drive. Bus stops are less than 1 mile away, and the airport is less than 10 miles away. Three parks, boutique stores, box stores, restaurants, and specialty stores are nearby. The property is located in Baltimore County and is part of the BALTIMORE COUNTY PUBLIC SCHOOLS school district.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $49.7k $22.20
    − Vacancy −$2.7k −$1.22
    EGI $47.0k $20.98
    − OpEx −$14.1k −$6.29
    NOI $32.9k $14.69
    2,240 SF · lease $22.20/SF/yr · vacancy 5.50% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $469.9K
    $411.2K – $548.3K (±1% cap)
    NOI $32,895 @ 7.0% cap · market cap 8.66%
    Second Best
    Apartment 5plus
    $416.9K
    $364.8K – $486.4K (±1% cap)
    NOI $29,184 @ 7.0% cap · market cap 7.68%
    Theoretical Best
    Office A
    $536.6K
    $469.6K – $626.1K (±1% cap)
    NOI $37,565 @ 7.0% cap · market cap 9.89%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Baltimore
    County
    Baltimore
    State
    Maryland
    Longitude
    -76.72844
    Latitude
    39.2971675

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    FAQs

    What type of property is this?
    Duplex - Renovated 2-unit home with large lot near shopping centers.
    Where is this duplex located?
    The property is located at 1215 Dorchester Avenue Baltimore, MD.
    What is the asking price?
    The asking price for this property is $379,900.
    What are key features of this property?
    This property features: Renovated 2‑unit brick home featuring **two kitchens with new stoves (2025) and dishwashers**; includes a new washer and gas dryer (2025).; Enjoy the **large, level, fenced lot with gazebo and large shed.**; Separate entrance to the lower level with 2 bedrooms (egress windows) and 2 additional multi‑use rooms.
    (301) 503-5036
    We can help!
    Listing Contact
    Rachel Adler
    Real Estate License ID: 86195
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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