Renovated 2-Unit Residential
For Sale
$349,000
141 S AUGUSTA Avenue, Baltimore, MD 21229
MULTI_FAMILY - Other - BALTIMORE, MD
Property Size2,350 SF
Lot Size0.13 Acres
Price / SF$148.51
Days on Market50
Property Features for 141 S AUGUSTA Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking features
On Street
Appliances
Dishwasher, Microwave, Refrigerator, Stainless Steel Appliances
Elementary school district
BALTIMORE CITY PUBLIC SCHOOLS
Middle school district
BALTIMORE CITY PUBLIC SCHOOLS
High school district
BALTIMORE CITY PUBLIC SCHOOLS
Standard status
Active
Size
2,350 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
582
Utilities
Heating system
Forced Air
Cooling system
Central Air, Ceiling Fan(s)
Amenities
washer and dryer hookups
Building Details
Year built
1900
Number of units
2
Building materials
Brick
Architectural style
Other
Listing Agency:
Fairfax Realty Elite
(202) 471-4200
Listed By:
Keith Nowlin Sr. · License #648718
(240) 460-7325
Added: Jul 13
Changed: Aug 6
Last Checked: Aug 31 at 4:06AM
MLS# MDBA2223026
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This completely renovated 2-unit residential income property includes a first-floor apartment with one bedroom, one full bathroom, and an additional bonus room, along with a second-floor apartment featuring three bedrooms and two full bathrooms. Updates throughout the building include brand-new HVAC systems, new hot water heaters, new energy-efficient windows, new kitchen appliances and refrigerators, new dishwashers, updated sinks and toilets, new interior doors, fresh paint, and laminate flooring. Washer and dryer hookups are provided in each unit.
The property also includes a full basement, with potential for future finishing subject to buyer verification of zoning and permitting requirements. The site is identified as 141 S Augusta Avenue, Baltimore, MD 21229 in Baltimore City.
The property also includes a full basement, with potential for future finishing subject to buyer verification of zoning and permitting requirements. The site is identified as 141 S Augusta Avenue, Baltimore, MD 21229 in Baltimore City.
Key Highlights
- Completely renovated 2‑unit property in Baltimore with live‑in flexibility (rent one or both units)
- First‑floor unit: 1 bedroom, 1 full bathroom, plus a bonus room; includes washer and dryer hookups
- Second‑floor unit: 3 bedrooms, 2 full bathrooms, including a primary bedroom with exposed brick; includes washer and dryer hookups
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 - Completely renovated duplex with two apartments, brand-new HVAC, updated kitchens, and washer/dryer hookups in each unit.
Where is this duplex located?
The property is located at 141 S AUGUSTA Avenue 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: Completely renovated 2‑unit property in Baltimore with live‑in flexibility (rent one or both units); First‑floor unit: 1 bedroom, 1 full bathroom, plus a bonus room; includes washer and dryer hookups; Second‑floor unit: 3 bedrooms, 2 full bathrooms, including a primary bedroom with exposed brick; includes washer and dryer hookups
