Four-Unit Craftsman
New
For Sale
$299,900
6409 Kriel St, Baltimore, MD 21207
Four apartments with separate utilities, covered porch access, a private balcony, and dedicated storage improvements.
Property Size1,986 SF
Price / SF$151.01
Days on Market2
Property Features for 6409 Kriel St
General Information
Standard status
Active
Size
1,986 SF
Property subtype
Multi-Family
Occupancy
50%
Additional Details
Multifamily Units
4
Amenities
covered front porch
private balcony
owner's workshop
detached carriage house
Building Details
Year Built
1921
Construction
Craftsman
Tenancy
Multi
Listing Agency:
RE/MAX Advantage Realty
Listed By:
Frederick Golding · License #579183
(443) 506-2538
Source:
Vinsonproperties
Added: Sep 1
Last Checked: Sep 1 at 8:07PM
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 RE/MAX Advantage Realty
Investment Insights
Based on property information with market context.
Built in 1921, this four-unit Craftsman-style property includes one basement apartment, two first-floor apartments, and one upper-level apartment. Two units are occupied and two are vacant. Each apartment has a private entrance, individual electric panel, and separate electric meter. Architectural features include cedar shake siding and hardwood floors. The first-floor apartments connect to a covered front porch, while the upper-level unit includes a private balcony.
The property also includes a basement workshop for owner storage and a detached carriage house that provides additional storage space. The combination of varied unit placement, separately metered electricity, and on-site storage supports practical management of the residential income property.
The property also includes a basement workshop for owner storage and a detached carriage house that provides additional storage space. The combination of varied unit placement, separately metered electricity, and on-site storage supports practical management of the residential income property.
Key Highlights
- Four‑unit configuration with 2 occupied apartments and 2 vacant apartments
- One basement, two first‑floor, and one upper‑level apartment
- Each unit has a private entrance, electric panel, and separate electric meter
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
$25,874
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
8.63%
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%
$517,480
$517.5K
Cap Rate 7%
$369,629
$369.6K
Cap Rate 9%
$287,489
$287.5K
Market Conditions
NOI Build-Up for 1,986 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
$50.0K $25.20/SF
− Vacancy
−$3.0K −$1.51/SF
EGI
$47.0K $23.69/SF
− OpEx
−$21.2K −$10.66/SF
NOI
$25.9K $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%
$517,480
Cap Rate 7%
$369,629
Cap Rate 9%
$287,489
Alternative Uses
Best Use
Multifamily LT 5
$416.6K
$364.6K – $486.1K
NOI $29,165 @ 7.0% cap · market cap 9.72%
Second Best
Apartment 5plus
$369.6K
$323.4K – $431.2K
NOI $25,874 @ 7.0% cap · market cap 8.63%
Theoretical Best
Office A
$475.8K
$416.3K – $555.1K
NOI $33,305 @ 7.0% cap · market cap 11.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
50%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
895
Businesses Nearby
Explore this area
Business Placement
Demographics for 21207, MD
46,595
Population
20,974
Households
2.2
Avg Household Size
41
Median Age
31%
College-Educated
90%
High-School Grad
10.3 sq mi
ZIP Area
4,524
Density / Sq Mi
$64,284
Median Household Income
$45,737
Median Earnings
$1,390
Median Rent
$248,400
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?
Quadplex - Four apartments with separate utilities, covered porch access, a private balcony, and dedicated storage improvements.
Where is this quadplex located?
The property is located at 6409 Kriel St Baltimore, MD.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Four‑unit configuration with 2 occupied apartments and 2 vacant apartments; One basement, two first‑floor, and one upper‑level apartment; Each unit has a private entrance, electric panel, and separate electric meter
