Updated Two-Unit
New
For Sale
$210,000
1420 N LUZERNE, Baltimore, MD 21213
Two refreshed residential units offer separate two-bedroom, one-bath layouts.
Property Size1,300 SF
Price / SF$161.54
Days on Market4
Property Features for 1420 N LUZERNE
General Information
Standard status
Active
Size
1,300 SF
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$28,800
Public Transit
Yes
Building Details
Year Built
1900
Listing Agency:
EXP Realty, LLC
(301) 873-4307
Listed By:
Danielle Bowie · License #678286
(301) 873-4307
Source:
Cummingsrealtors
Added: Aug 28
Changed: Aug 31
Last Checked: Aug 31 at 10:03AM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This 1,300-square-foot duplex, built in 1900, contains two separate residential units, each with two bedrooms and one bathroom. Recent interior work includes new flooring, fresh paint, and updated appliances, giving both residences a refreshed presentation.
The property is located near Johns Hopkins Hospital and Medical Campus, Patterson Park, neighborhood parks, shopping, dining, public transportation, and major commuter routes serving Downtown Baltimore and surrounding employment centers. Its two-unit configuration supports separate residential occupancy within one multifamily property.
The property is located near Johns Hopkins Hospital and Medical Campus, Patterson Park, neighborhood parks, shopping, dining, public transportation, and major commuter routes serving Downtown Baltimore and surrounding employment centers. Its two-unit configuration supports separate residential occupancy within one multifamily property.
Key Highlights
- Two 2BR/1BA units within one duplex
- 1,300 SF property built in 1900
- New flooring, fresh interior paint, and updated appliances
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
$19,091
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
9.09%
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%
$381,820
$381.8K
Cap Rate 7%
$272,729
$272.7K
Cap Rate 9%
$212,122
$212.1K
Market Conditions
NOI Build-Up for 1,300 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
$28.9K $22.20/SF
− Vacancy
−$1.6K −$1.22/SF
EGI
$27.3K $20.98/SF
− OpEx
−$8.2K −$6.29/SF
NOI
$19.1K $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%
$381,820
Cap Rate 7%
$272,729
Cap Rate 9%
$212,122
Alternative Uses
Best Use
Multifamily LT 5
$272.7K
$238.6K – $318.2K
NOI $19,091 @ 7.0% cap · market cap 9.09%
Second Best
Apartment 5plus
$242.0K
$211.7K – $282.3K
NOI $16,937 @ 7.0% cap · market cap 8.07%
Theoretical Best
Office A
$311.4K
$272.5K – $363.4K
NOI $21,801 @ 7.0% cap · market cap 10.38%
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
1,478
Businesses Nearby
Explore this area
Business Placement
Demographics for 21213, MD
28,217
Population
14,549
Households
1.9
Avg Household Size
38
Median Age
17%
College-Educated
84%
High-School Grad
3.4 sq mi
ZIP Area
8,299
Density / Sq Mi
$50,031
Median Household Income
$41,378
Median Earnings
$1,253
Median Rent
$134,900
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 refreshed residential units offer separate two-bedroom, one-bath layouts.
Where is this duplex located?
The property is located at 1420 N LUZERNE Baltimore, MD.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: Two 2BR/1BA units within one duplex; 1,300 SF property built in 1900; New flooring, fresh interior paint, and updated appliances
