Updated Two-Unit
New
For Sale
$210,000
1420 N LUZERNE, Baltimore, MD 21213
Multi-Family, BALTIMORE, MD
Property Size1,300 SF
Price / SF$161.54
Days on Market3
Property Features for 1420 N LUZERNE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking features
On Street
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
1,300 SF
Taxes and HOA fees
Tax Annual Amount
4248
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1900
Number of units
1
Building materials
Brick Front
Listing Agency:
EXP Realty, LLC
(571) 398-5989
Listed By:
Danielle Bowie · License #678286
(301) 873-4307
Added: Aug 29
Last Checked: Aug 31 at 3:06AM
MLS# MDBA2229622
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 1,300-square-foot duplex at 1420 N Luzerne Avenue contains two separate 2-bedroom, 1-bath units. Recent interior work includes new flooring, fresh paint, and updated appliances. The property was built in 1900 and features a brick front, central heating, central air, on-street parking, and a basement.
The East Baltimore location places the property near Johns Hopkins Hospital and Medical Campus, Patterson Park, neighborhood parks, shopping, dining, public transportation, and major commuter routes. Downtown Baltimore and surrounding employment centers are accessible from the area, providing a range of nearby services and transportation connections for residents.
The East Baltimore location places the property near Johns Hopkins Hospital and Medical Campus, Patterson Park, neighborhood parks, shopping, dining, public transportation, and major commuter routes. Downtown Baltimore and surrounding employment centers are accessible from the area, providing a range of nearby services and transportation connections for residents.
Key Highlights
- Two separate 2‑bedroom, 1‑bath units
- 1,300 square feet on a 0.07‑acre lot
- Recent flooring, interior paint, and appliance updates
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 - Recently refreshed interiors include new flooring, paint, and appliances in both residences.
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 separate 2‑bedroom, 1‑bath units; 1,300 square feet on a 0.07‑acre lot; Recent flooring, interior paint, and appliance updates
