Brick Triplex with
For Sale
$499,900
Pending
2500 Lightfoot Drive, Baltimore, MD 21209
Brick multifamily property with central air, a driveway, deck, and basement space for flexible use.
Property Size1,784 SF
Days on Market48
Property Features for 2500 Lightfoot Drive
General Information
Standard status
Pending
Size
1,784 SF
Property subtype
Triplex
Taxes and HOA fees
Annual Taxes
$4,136
Amenities
Central Air, Ceiling Fan(s)
Full
Storm Window
Carpet
Dishwasher, Washer, Single Oven, Dryer, Refrigerator
Laundry Facilities
Pool
Deck
R
Parking. Outbuildings. Deck. Spa.
Driveway, Concrete Driveway, On Street.
Brick
1.00 x
No Pool
Shed.
Building Details
Year Built
1958
Stories
4
Listing Agency:
(410) 844-0030
Listed By:
Lazar Real Estate
(443) 562-8498
Source:
Xome
Added: Jul 16
Changed: Aug 30
Last Checked: Aug 31 at 3:12PM
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 Lazar Real Estate
Investment Insights
Based on property information with market context.
This brick triplex, constructed in 1958, includes a basement with a full bathroom and additional interior space. The property has central air, ceiling fans, a traditional kitchen with dishwasher, single oven, and refrigerator, plus laundry equipment including a washer and dryer. Storm windows, carpeting, and a concrete driveway are also included.
Outdoor features include a deck, shed, very large backyard, and on-street parking. The property is located at 2500 Lightfoot Drive in Baltimore, Maryland, within the Indian Village neighborhood. It is offered in AS-IS condition.
Outdoor features include a deck, shed, very large backyard, and on-street parking. The property is located at 2500 Lightfoot Drive in Baltimore, Maryland, within the Indian Village neighborhood. It is offered in AS-IS condition.
Key Highlights
- Triplex classification with a basement and full bathroom
- 1,784‑square‑foot property built in 1958
- Central air and ceiling fans
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
$26,199
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
5.24%
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%
$523,980
$524.0K
Cap Rate 7%
$374,271
$374.3K
Cap Rate 9%
$291,100
$291.1K
Market Conditions
NOI Build-Up for 1,784 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
$39.6K $22.20/SF
− Vacancy
−$2.2K −$1.22/SF
EGI
$37.4K $20.98/SF
− OpEx
−$11.2K −$6.29/SF
NOI
$26.2K $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%
$523,980
Cap Rate 7%
$374,271
Cap Rate 9%
$291,100
Alternative Uses
Best Use
Multifamily LT 5
$374.3K
$327.5K – $436.7K
NOI $26,199 @ 7.0% cap · market cap 5.24%
Second Best
Apartment 5plus
$332.0K
$290.5K – $387.4K
NOI $23,243 @ 7.0% cap · market cap 4.65%
Theoretical Best
Office A
$427.4K
$374.0K – $498.6K
NOI $29,918 @ 7.0% cap · market cap 5.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
783
Businesses Nearby
Explore this area
Business Placement
Demographics for 21209, MD
28,659
Population
12,086
Households
2.4
Avg Household Size
37
Median Age
60%
College-Educated
96%
High-School Grad
6.5 sq mi
ZIP Area
4,409
Density / Sq Mi
$87,669
Median Household Income
$57,694
Median Earnings
$1,640
Median Rent
$418,800
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?
Triplex - Brick multifamily property with central air, a driveway, deck, and basement space for flexible use.
Where is this triplex located?
The property is located at 2500 Lightfoot Drive Baltimore, MD.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Triplex classification with a basement and full bathroom; 1,784‑square‑foot property built in 1958; Central air and ceiling fans
