Prime Location Multifamily
For Sale
$408,000
1434 LIGHT St, Baltimore, MD 21230
Multifamily property near Federal Hill and Riverside Park.
Property Size1,533 SF
Days on Market121
Property Features for 1434 LIGHT St
General Information
Standard status
Active
Size
1,533 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$7,890
Building Details
Building Size
1,533 SF
Year Built
1900
Units
3
Listing Agency:
Cummings & Co. Realtors
(443) 939-1854
Listed By:
Josh Velte · License #661436
(443) 939-1854
Source:
Elliman
Added: Apr 24
Changed: Aug 11
Last Checked: Aug 21 at 9:13AM
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.
The property at 1434 Light St is situated in a desirable location for renters, offering convenient access to Federal Hill and Riverside Park. The surrounding area features local bars and restaurants. Public transportation is easily accessible, and parking is available directly outside the property, with a parking garage nearby. The property has a bike score of 86, indicating it is very bikeable, a walk score of 97, designating it as a walker's paradise, and a transit score of 97, marking it as a rider's paradise. This property is being sold together with 1436 Light St.
Key Highlights
- Walker's Paradise: Walk Score of 97
- Rider's Paradise: Transit Score of 97
- Highly desirable location near Federal Hill and Riverside Park
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
$19,973
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
4.90%
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%
$399,460
$399.5K
Cap Rate 7%
$285,329
$285.3K
Cap Rate 9%
$221,922
$221.9K
Market Conditions
NOI Build-Up for 1,533 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
$38.6K $25.20/SF
− Vacancy
−$2.3K −$1.51/SF
EGI
$36.3K $23.69/SF
− OpEx
−$16.3K −$10.66/SF
NOI
$20.0K $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%
$399,460
Cap Rate 7%
$285,329
Cap Rate 9%
$221,922
Alternative Uses
Best Use
Apartment 5plus
$285.3K
$249.7K – $332.9K
NOI $19,973 @ 7.0% cap · market cap 4.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$367.3K
$321.4K – $428.5K
NOI $25,708 @ 7.0% cap · market cap 6.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,988
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Multifamily property near Federal Hill and Riverside Park.
Where is this multifamily property located?
The property is located at 1434 LIGHT St Baltimore, MD.
What is the asking price?
The asking price for this property is $408,000.
What are key features of this property?
This property features: Walker's Paradise: Walk Score of 97; Rider's Paradise: Transit Score of 97; Highly desirable location near Federal Hill and Riverside Park
