Renovated Duplex with Separate
For Sale
$210,000
1406 FILBERT ST, Curtis Bay, MD 21226
Two separately metered units feature updated kitchens, bathrooms, HVAC, and plumbing.
Property Size1,400 SF
Price / SF$150
Days on Market51
Property Features for 1406 FILBERT ST
General Information
Standard status
Active
Size
1,400 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
skylights
Listing Agency:
Samson Properties
(410) 490-0675
Listed By:
Victoria W. King · License #663688
(410) 490-0675
Source:
Towncentermd
Added: Jul 12
Changed: Aug 28
Last Checked: Aug 30 at 5:44PM
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 Samson Properties
Investment Insights
Based on property information with market context.
Located at 1406 Filbert St in Baltimore City, this 1,400-square-foot duplex contains two renovated residential units with separate electric meters and individual HVAC systems. The property also includes updated plumbing and new hot water heaters.
The layouts provide a one-bedroom unit and a two-bedroom unit. Both feature living and dining areas, skylights, new flooring, refreshed kitchens with new cabinetry and countertops, and renovated bathrooms with new vanities and custom tile tub or shower surrounds. The configuration supports separate occupancy of each unit and offers flexibility for an owner to occupy one while leasing the other.
The layouts provide a one-bedroom unit and a two-bedroom unit. Both feature living and dining areas, skylights, new flooring, refreshed kitchens with new cabinetry and countertops, and renovated bathrooms with new vanities and custom tile tub or shower surrounds. The configuration supports separate occupancy of each unit and offers flexibility for an owner to occupy one while leasing the other.
Key Highlights
- 1,400‑square‑foot duplex with two residential units
- Unit mix includes one‑bedroom and two‑bedroom layouts
- Separate electric meters and individual HVAC systems
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
$18,240
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
8.69%
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%
$364,800
$364.8K
Cap Rate 7%
$260,571
$260.6K
Cap Rate 9%
$202,667
$202.7K
Market Conditions
NOI Build-Up for 1,400 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
$35.3K $25.20/SF
− Vacancy
−$2.1K −$1.51/SF
EGI
$33.2K $23.69/SF
− OpEx
−$14.9K −$10.66/SF
NOI
$18.2K $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%
$364,800
Cap Rate 7%
$260,571
Cap Rate 9%
$202,667
Alternative Uses
Best Use
Multifamily LT 5
$293.7K
$257.0K – $342.7K
NOI $20,559 @ 7.0% cap · market cap 9.79%
Second Best
Apartment 5plus
$260.6K
$228.0K – $304.0K
NOI $18,240 @ 7.0% cap · market cap 8.69%
Theoretical Best
Office A
$335.4K
$293.5K – $391.3K
NOI $23,478 @ 7.0% cap · market cap 11.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
338
Businesses Nearby
Explore this area
Business Placement
Demographics for 21226, MD
7,368
Population
3,093
Households
2.4
Avg Household Size
37
Median Age
34%
College-Educated
87%
High-School Grad
9.8 sq mi
ZIP Area
752
Density / Sq Mi
$79,712
Median Household Income
$52,750
Median Earnings
$1,338
Median Rent
$318,500
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 - Two separately metered units feature updated kitchens, bathrooms, HVAC, and plumbing.
Where is this duplex located?
The property is located at 1406 FILBERT ST Curtis Bay, MD.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: 1,400‑square‑foot duplex with two residential units; Unit mix includes one‑bedroom and two‑bedroom layouts; Separate electric meters and individual HVAC systems
