Leased Duplex with Historic
For Sale
$529,000
343 SCOTT ST, Baltimore, MD 21230
Two separately leased residences feature multilevel layouts, modern finishes, and convenient access to nearby campuses and entertainment districts.
Property Size1,862 SF
Price / SF$284.10
Days on Market9
Property Features for 343 SCOTT ST
General Information
Standard status
Active
Size
1,862 SF
Property subtype
Multi-family
Occupancy
100%
Additional Details
Gross Income
$42,300
Public Transit
Yes
Multifamily Units
2
Building Details
Buildings
1
Stories
4
Tenancy
Multi
Listing Agency:
Results 1 Realty LLC
(410) 576-8522
Listed By:
Clausen Ely III · License #583227
(202) 494-4700
Source:
Keygroupmd
Added: Sep 7
Last Checked: Sep 15 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 Results 1 Realty LLC
Investment Insights
Based on property information with market context.
This duplex contains two residences, each arranged across two levels, within a four-story property featuring modern finishes, high-end appliances, exposed brick, and period architectural details. Both units are leased annually, and the property carries a 6+% cap rate. The building also includes parking for at least two cars, a connected lot maintained as a yard and garden, and a south-facing facade with a residential mural.
Located at 343 Scott Street, the property is steps from the UMAB Graduate Campus shuttle and one block from the shops along Pigtown Main Street. The UMAB Campus, stadiums, Inner Harbor, Downtown, and the Casino Entertainment District are all within a few blocks. A minimum of 24 hours' notice is required for showings.
Located at 343 Scott Street, the property is steps from the UMAB Graduate Campus shuttle and one block from the shops along Pigtown Main Street. The UMAB Campus, stadiums, Inner Harbor, Downtown, and the Casino Entertainment District are all within a few blocks. A minimum of 24 hours' notice is required for showings.
Key Highlights
- Duplex with 2 residences, each offering 2 levels of living
- Both units leased on annual terms
- 6+% cap rate
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
$27,344
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
5.17%
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%
$546,880
$546.9K
Cap Rate 7%
$390,629
$390.6K
Cap Rate 9%
$303,822
$303.8K
Market Conditions
NOI Build-Up for 1,862 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
$41.3K $22.20/SF
− Vacancy
−$2.3K −$1.22/SF
EGI
$39.1K $20.98/SF
− OpEx
−$11.7K −$6.29/SF
NOI
$27.3K $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%
$546,880
Cap Rate 7%
$390,629
Cap Rate 9%
$303,822
Alternative Uses
Best Use
Multifamily LT 5
$390.6K
$341.8K – $455.7K
NOI $27,344 @ 7.0% cap · market cap 5.17%
Second Best
Apartment 5plus
$346.6K
$303.2K – $404.3K
NOI $24,259 @ 7.0% cap · market cap 4.59%
Theoretical Best
Office A
$446.1K
$390.3K – $520.4K
NOI $31,226 @ 7.0% cap · market cap 5.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
5,275
Businesses Nearby
Explore this area
Business Placement
Demographics for 21230, MD
36,660
Population
18,070
Households
2
Avg Household Size
33
Median Age
59%
College-Educated
88%
High-School Grad
6.3 sq mi
ZIP Area
5,819
Density / Sq Mi
$94,164
Median Household Income
$69,973
Median Earnings
$1,771
Median Rent
$327,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately leased residences feature multilevel layouts, modern finishes, and convenient access to nearby campuses and entertainment districts.
Where is this duplex located?
The property is located at 343 SCOTT ST Baltimore, MD.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: Duplex with 2 residences, each offering 2 levels of living; Both units leased on annual terms; 6+% cap rate
