Brick Triplex with
For Sale
$408,000
1434 LIGHT Street, Baltimore, MD 21230
Multi-Family, BALTIMORE, MD
Property Size1,533 SF
Lot Size0.03 Acres
Price / SF$266.14
Days on Market207
Property Features for 1434 LIGHT Street
General Information
Property type
Residential Multi Family
Property subtype
Other
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
1,533 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
7890
Utilities
Heating system
Other (Heating)
Cooling system
Ductless
Building Details
Year built
1900
Number of units
3
Building materials
Brick
Architectural style
Contemporary
Listing Agency:
Cummings & Co. Realtors
(410) 823-0033
Listed By:
Josh Velte · License #661436
(443) 939-1854
Added: Feb 12
Changed: Aug 19
Last Checked: Sep 7 at 11:06AM
MLS# MDBA2202822
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.
Located at 1434 Light St in Baltimore, this triplex offers 1,533 square feet within a brick building constructed in 1900. The property includes a basement, ductless cooling, other heating, and on-street parking. Its contemporary architectural style adds a distinct physical character to the asset.
The property is near Federal Hill and Riverside Park, with local bars and restaurants in the surrounding area. Public transportation is nearby, and a parking garage is also available in the vicinity. The property may be purchased together with 1436 Light St, providing an opportunity to consider the adjacent Light Street offering as part of the transaction.
The property is near Federal Hill and Riverside Park, with local bars and restaurants in the surrounding area. Public transportation is nearby, and a parking garage is also available in the vicinity. The property may be purchased together with 1436 Light St, providing an opportunity to consider the adjacent Light Street offering as part of the transaction.
Key Highlights
- 1,533‑square‑foot triplex at 1434 Light St
- Brick construction with a 1900 build year
- Basement included
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
$22,513
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
5.52%
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%
$450,260
$450.3K
Cap Rate 7%
$321,614
$321.6K
Cap Rate 9%
$250,144
$250.1K
Market Conditions
NOI Build-Up for 1,533 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
$34.0K $22.20/SF
− Vacancy
−$1.9K −$1.22/SF
EGI
$32.2K $20.98/SF
− OpEx
−$9.6K −$6.29/SF
NOI
$22.5K $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%
$450,260
Cap Rate 7%
$321,614
Cap Rate 9%
$250,144
Alternative Uses
Best Use
Multifamily LT 5
$321.6K
$281.4K – $375.2K
NOI $22,513 @ 7.0% cap · market cap 5.52%
Second Best
Apartment 5plus
$285.3K
$249.7K – $332.9K
NOI $19,973 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$367.3K
$321.4K – $428.5K
NOI $25,708 @ 7.0% cap · market cap 6.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,988
Businesses Nearby
Explore this area
Business Placement
Demographics for 21230, MD
36,660
Population
18,070
Households
2
Avg Household Size
33
Median Age
59%
College-Educated
88%
High-School Grad
6.3 sq mi
ZIP Area
5,819
Density / Sq Mi
$94,164
Median Household Income
$69,973
Median Earnings
$1,771
Median Rent
$327,700
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?
Triplex - Baltimore triplex with ductless cooling, on-street parking, and convenient access to nearby restaurants and public transportation.
Where is this triplex located?
The property is located at 1434 LIGHT Street Baltimore, MD.
What is the asking price?
The asking price for this property is $408,000.
What are key features of this property?
This property features: 1,533‑square‑foot triplex at 1434 Light St; Brick construction with a 1900 build year; Basement included
