Renovated 2-Unit
For Sale
$349,000
141 S Augusta Ave, Baltimore, MD 21229
Updated duplex with flexible two-unit living and rental configuration in Baltimore.
Property Size2,350 SF
Price / SF$148.51
Days on Market40
Property Features for 141 S Augusta Ave
General Information
Standard status
Active
Size
2,350 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 1BR/1BA, 1 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$582
Amenities
washer/dryer hookups
Building Details
Buildings
1
Listing Agency:
Fairfax Realty Elite
(240) 460-7325
Listed By:
Keith Nowlin Sr. · License #648718
(240) 460-7325
Source:
Exprealty
Added: Jul 13
Changed: Aug 21
Last Checked: Aug 20 at 10:04AM
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 Fairfax Realty Elite
Investment Insights
Based on property information with market context.
Located at 141 S Augusta Ave in Baltimore, this renovated duplex contains two separate apartments totaling 2,350 square feet. The first-floor unit includes 1 bedroom, 1 full bathroom, and a bonus room. Upstairs, the second apartment offers 3 bedrooms and 2 full bathrooms, with exposed brick in the primary bedroom adding a distinctive interior feature.
Recent improvements include new HVAC systems, hot water heaters, energy-efficient windows, kitchen appliances, refrigerators, dishwashers, sinks, toilets, interior doors, laminate flooring, and fresh paint. Each unit also has washer and dryer hookups. A full basement is included and may offer the possibility of future finishing or excavation, subject to buyer verification of zoning and permitting requirements.
Recent improvements include new HVAC systems, hot water heaters, energy-efficient windows, kitchen appliances, refrigerators, dishwashers, sinks, toilets, interior doors, laminate flooring, and fresh paint. Each unit also has washer and dryer hookups. A full basement is included and may offer the possibility of future finishing or excavation, subject to buyer verification of zoning and permitting requirements.
Key Highlights
- Two‑unit duplex with 2,350 square feet
- First‑floor unit includes 1 bedroom, 1 full bathroom, and a bonus room
- Second‑floor apartment has 3 bedrooms and 2 full bathrooms
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
$30,617
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
8.77%
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%
$612,340
$612.3K
Cap Rate 7%
$437,386
$437.4K
Cap Rate 9%
$340,189
$340.2K
Market Conditions
NOI Build-Up for 2,350 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
$59.2K $25.20/SF
− Vacancy
−$3.6K −$1.51/SF
EGI
$55.7K $23.69/SF
− OpEx
−$25.1K −$10.66/SF
NOI
$30.6K $13.03/SF
Area
ZIP 21229
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%
$612,340
Cap Rate 7%
$437,386
Cap Rate 9%
$340,189
Alternative Uses
Best Use
Multifamily LT 5
$474.6K
$415.3K – $553.7K
NOI $33,222 @ 7.0% cap · market cap 9.52%
Second Best
Apartment 5plus
$437.4K
$382.7K – $510.3K
NOI $30,617 @ 7.0% cap · market cap 8.77%
Theoretical Best
Office A
$560.3K
$490.2K – $653.6K
NOI $39,218 @ 7.0% cap · market cap 11.24%
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
435
Businesses Nearby
Explore this area
Business Placement
Demographics for 21229, MD
43,464
Population
20,653
Households
2.1
Avg Household Size
38
Median Age
22%
College-Educated
89%
High-School Grad
5.9 sq mi
ZIP Area
7,367
Density / Sq Mi
$55,457
Median Household Income
$40,627
Median Earnings
$1,210
Median Rent
$184,900
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 - Updated duplex with flexible two-unit living and rental configuration in Baltimore.
Where is this duplex located?
The property is located at 141 S Augusta Ave Baltimore, MD.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,350 square feet; First‑floor unit includes 1 bedroom, 1 full bathroom, and a bonus room; Second‑floor apartment has 3 bedrooms and 2 full bathrooms
