Listing Agency: KW Metro Center Show Phone

Listed By: Danielle Bowie · License #678286 Show Phone

Source: Hostetterrealty

Added: Aug 30 Changed: Oct 4 Last Checked: Oct 14 at 11:00PM

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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.

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 / Yr

$19,091

Cap Rate

9.09%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$381,820 $381.8K

Cap Rate 7%

$272,729 $272.7K

Cap Rate 9%

$212,122 $212.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,300 SF

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 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 (±1% cap)

NOI $19,091 @ 7.0% cap · market cap 9.09%

Second Best

Apartment 5plus

$242.0K

$211.7K – $282.3K (±1% cap)

NOI $16,937 @ 7.0% cap · market cap 8.07%

Theoretical Best

Office A

$311.4K

$272.5K – $363.4K (±1% cap)

NOI $21,801 @ 7.0% cap · market cap 10.38%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Law Firm Real Estate Agency Electrical Service Spa & Massage Center Computer & Electronic Repair (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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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