Renovated Duplex with Detached
New
For Sale
$539,900
2414 Callow Ave, Baltimore, MD 21217
Two-level configuration includes a separate apartment, multiple primary suites, updated systems, and outdoor living improvements.
Property Size2,250 SF
Price / SF$239.96
Days on Market3
Property Features for 2414 Callow Ave
General Information
Standard status
Active
Size
2,250 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
1 x 4BR/4.5BA, 1 x 1BR/1BA
Multifamily Units
2
Amenities
EV charging station
in-unit laundry
deck
Building Details
Year Built
1912
Buildings
1
Listing Agency:
Cummings & Co. Realtors
Listed By:
Brigitte S Williams · License #57989007
(443) 250-1841
Source:
Baltimorehousesale
Added: Sep 5
Last Checked: Sep 6 at 11:07AM
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.
This legally zoned duplex includes a renovated main residence and a separate lower-level apartment. The main house offers four bedrooms, 4 1/2 baths, four primary en suites with walk-in closets, and 2,250 SF of property size. The lower-level unit contains one bedroom, one bath, a full kitchen, a primary suite, and its own washer and dryer. Each living level has dedicated laundry, with three washers and dryers total.
Recent improvements include energy-efficient appliances, two-zone HVAC, tankless hot water in the apartment, Energy Star HVAC equipment, high-efficiency windows on three sides, ceiling fans in the primary suites, and a new porch, steps, side walkway, and rear deck. The property also includes a detached two-car garage with an EV charging station. Built in 1912, it is located at 2414 Callow Ave in Baltimore, Maryland 21217.
Recent improvements include energy-efficient appliances, two-zone HVAC, tankless hot water in the apartment, Energy Star HVAC equipment, high-efficiency windows on three sides, ceiling fans in the primary suites, and a new porch, steps, side walkway, and rear deck. The property also includes a detached two-car garage with an EV charging station. Built in 1912, it is located at 2414 Callow Ave in Baltimore, Maryland 21217.
Key Highlights
- Legally zoned 2‑unit duplex with a separate lower‑level apartment
- 2,250 SF property size; main house includes four bedrooms and 4 1/2 baths
- Four primary en suites with walk‑in closets in the main residence
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
$33,042
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
6.12%
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%
$660,840
$660.8K
Cap Rate 7%
$472,029
$472.0K
Cap Rate 9%
$367,133
$367.1K
Market Conditions
NOI Build-Up for 2,250 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 $22.20/SF
− Vacancy
−$2.7K −$1.22/SF
EGI
$47.2K $20.98/SF
− OpEx
−$14.2K −$6.29/SF
NOI
$33.0K $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%
$660,840
Cap Rate 7%
$472,029
Cap Rate 9%
$367,133
Alternative Uses
Best Use
Multifamily LT 5
$472.0K
$413.0K – $550.7K
NOI $33,042 @ 7.0% cap · market cap 6.12%
Second Best
Apartment 5plus
$418.8K
$366.4K – $488.6K
NOI $29,314 @ 7.0% cap · market cap 5.43%
Theoretical Best
Office A
$539.0K
$471.7K – $628.9K
NOI $37,733 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,159
Businesses Nearby
Explore this area
Business Placement
Demographics for 21217, MD
30,448
Population
20,064
Households
1.5
Avg Household Size
38
Median Age
22%
College-Educated
83%
High-School Grad
2.1 sq mi
ZIP Area
14,499
Density / Sq Mi
$37,207
Median Household Income
$40,668
Median Earnings
$1,065
Median Rent
$175,900
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-level configuration includes a separate apartment, multiple primary suites, updated systems, and outdoor living improvements.
Where is this duplex located?
The property is located at 2414 Callow Ave Baltimore, MD.
What is the asking price?
The asking price for this property is $539,900.
What are key features of this property?
This property features: Legally zoned 2‑unit duplex with a separate lower‑level apartment; 2,250 SF property size; main house includes four bedrooms and 4 1/2 baths; Four primary en suites with walk‑in closets in the main residence
