Two-Unit Duplex with Separate
For Sale
$610,000
1215 John Street, Baltimore, MD 21217
Historic two-level upper apartment paired with a first-floor one-bedroom unit and dedicated laundry facilities.
Property Size2,760 SF
Price / SF$221.01
Days on Market142
Property Features for 1215 John Street
General Information
Standard status
Active
Size
2,760 SF
Property subtype
Multi-Family / Fee Simple
Zoning
R-7
Site & Location
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 3BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,157
Amenities
on-site laundry
No
No Pool
Building Details
Year Built
1850
Listing Agency:
Ben Frederick Realty, Inc.
(410) 916-3331
Listed By:
Will A Cannon III · License #657102
(410) 916-3331
Source:
Compass
Added: Apr 12
Changed: Aug 30
Last Checked: Aug 31 at 1:51AM
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 Ben Frederick Realty, Inc.
Investment Insights
Based on property information with market context.
Located at 1215 John Street in Bolton Hill, this duplex contains a three-bedroom, two-bath apartment across the upper two levels and a one-bedroom, one-bath apartment on the first floor. The upper residence includes distinct living and dining areas, granite kitchen counters, wood shaker cabinetry, and a street-facing reading nook. The lower apartment offers comparable kitchen finishes and exposed brick in the living area. Vinyl plank flooring runs through the living spaces and kitchens.
Gas and electric service are separately metered for each apartment, with individual HVAC systems serving both units. Basement laundry includes one washer and dryer set assigned to each residence, with equipment connected to the respective tenant electric meters. Improvements completed in 2018 included electrical service, roofing, and interior finishes; water heaters were updated in 2025 and 2026.
The property is on a non-through street in southeast Bolton Hill, with a Walk Score of 92 and a Transit Score of 95. Penn Station, Light Rail, Metro, and the JHU Shuttle are accessible from the property. R-7 zoning and a total property size of 2,760 square feet are reported.
Gas and electric service are separately metered for each apartment, with individual HVAC systems serving both units. Basement laundry includes one washer and dryer set assigned to each residence, with equipment connected to the respective tenant electric meters. Improvements completed in 2018 included electrical service, roofing, and interior finishes; water heaters were updated in 2025 and 2026.
The property is on a non-through street in southeast Bolton Hill, with a Walk Score of 92 and a Transit Score of 95. Penn Station, Light Rail, Metro, and the JHU Shuttle are accessible from the property. R-7 zoning and a total property size of 2,760 square feet are reported.
Key Highlights
- Two apartments: upper three‑bedroom, two‑bath unit and first‑floor one‑bedroom, one‑bath unit
- 2,760‑square‑foot duplex at 1215 John Street in Bolton Hill
- Separate gas and electric meters plus individual HVAC systems for each apartment
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
$40,531
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
6.64%
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%
$810,620
$810.6K
Cap Rate 7%
$579,014
$579.0K
Cap Rate 9%
$450,344
$450.3K
Market Conditions
NOI Build-Up for 2,760 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
$61.3K $22.20/SF
− Vacancy
−$3.4K −$1.22/SF
EGI
$57.9K $20.98/SF
− OpEx
−$17.4K −$6.29/SF
NOI
$40.5K $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%
$810,620
Cap Rate 7%
$579,014
Cap Rate 9%
$450,344
Alternative Uses
Best Use
Multifamily LT 5
$579.0K
$506.6K – $675.5K
NOI $40,531 @ 7.0% cap · market cap 6.64%
Second Best
Apartment 5plus
$513.7K
$449.5K – $599.3K
NOI $35,958 @ 7.0% cap · market cap 5.89%
Theoretical Best
Office A
$661.2K
$578.6K – $771.4K
NOI $46,285 @ 7.0% cap · market cap 7.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,026
Businesses Nearby
Explore this area
Business Placement
Demographics for 21217, MD
30,448
Population
20,064
Households
1.5
Avg Household Size
38
Median Age
22%
College-Educated
83%
High-School Grad
2.1 sq mi
ZIP Area
14,499
Density / Sq Mi
$37,207
Median Household Income
$40,668
Median Earnings
$1,065
Median Rent
$175,900
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?
Duplex - Historic two-level upper apartment paired with a first-floor one-bedroom unit and dedicated laundry facilities.
Where is this duplex located?
The property is located at 1215 John Street Baltimore, MD.
What is the asking price?
The asking price for this property is $610,000.
What are key features of this property?
This property features: Two apartments: upper three‑bedroom, two‑bath unit and first‑floor one‑bedroom, one‑bath unit; 2,760‑square‑foot duplex at 1215 John Street in Bolton Hill; Separate gas and electric meters plus individual HVAC systems for each apartment
