Brick
For Sale
$349,900
7104 HARFORD Road, Baltimore, MD 21234
Multi-Family, BALTIMORE, MD
Property Size1,636 SF
Lot Size0.06 Acres
Price / SF$213.88
Days on Market96
Property Features for 7104 HARFORD Road
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Parking
2
Parking features
Driveway, Off Street
Appliances
Dishwasher, Dryer, Refrigerator, Stove, Washer
Subdivision
HAMILTON HEIGHTS
Elementary school district
BALTIMORE CITY PUBLIC SCHOOLS
Middle school district
BALTIMORE CITY PUBLIC SCHOOLS
High school district
BALTIMORE CITY PUBLIC SCHOOLS
Standard status
Active
Size
1,636 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
3549
Utilities
Heating system
Other (Heating)
Cooling system
Ceiling Fan(s), Window Unit(s)
Building Details
Year built
1930
Number of units
3
Building materials
Brick
Listing Agency:
Keller Williams Gateway LLC · Keller Williams Realty
(443) 318-8800
Listed By:
Marcus P Hairston · License #0671997
(240) 426-3190
Added: May 28
Changed: Aug 19
Last Checked: Aug 31 at 2:06PM
MLS# MDBA2215998
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This brick triplex was built in 1930 and contains 1,636 square feet of property area. The residence includes a dishwasher, dryer, refrigerator, stove, and washer. Cooling is provided by ceiling fans and window units.
The 0.0581-acre lot offers a driveway and additional off-street parking. The property is located on Harford Road in Baltimore, Maryland, within ZIP Code 21234.
The 0.0581-acre lot offers a driveway and additional off-street parking. The property is located on Harford Road in Baltimore, Maryland, within ZIP Code 21234.
Key Highlights
- Triplex with 1,636 square feet of property area
- Built in 1930 with brick construction
- Situated on a 0.0581‑acre lot
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
$24,025
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
6.87%
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%
$480,500
$480.5K
Cap Rate 7%
$343,214
$343.2K
Cap Rate 9%
$266,944
$266.9K
Market Conditions
NOI Build-Up for 1,636 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
$36.3K $22.20/SF
− Vacancy
−$2.0K −$1.22/SF
EGI
$34.3K $20.98/SF
− OpEx
−$10.3K −$6.29/SF
NOI
$24.0K $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%
$480,500
Cap Rate 7%
$343,214
Cap Rate 9%
$266,944
Alternative Uses
Best Use
Multifamily LT 5
$343.2K
$300.3K – $400.4K
NOI $24,025 @ 7.0% cap · market cap 6.87%
Second Best
Apartment 5plus
$304.5K
$266.4K – $355.2K
NOI $21,314 @ 7.0% cap · market cap 6.09%
Theoretical Best
Office A
$391.9K
$343.0K – $457.3K
NOI $27,436 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
757
Businesses Nearby
Explore this area
Business Placement
Demographics for 21234, MD
67,308
Population
29,575
Households
2.3
Avg Household Size
40
Median Age
36%
College-Educated
93%
High-School Grad
13.4 sq mi
ZIP Area
5,023
Density / Sq Mi
$83,139
Median Household Income
$52,260
Median Earnings
$1,542
Median Rent
$276,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential income property with off-street parking and a mix of included household appliances.
Where is this triplex located?
The property is located at 7104 HARFORD Road Baltimore, MD.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Triplex with 1,636 square feet of property area; Built in 1930 with brick construction; Situated on a 0.0581‑acre lot
