4-Unit Quadplex with
For Sale
$563,000
1436 LIGHT Street, Baltimore, MD 21230
Multi-Family, BALTIMORE, MD
Property Size2,220 SF
Lot Size0.06 Acres
Price / SF$253.60
Days on Market207
Property Features for 1436 LIGHT Street
General Information
Property type
Residential Multi Family
Property subtype
Other
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
2,220 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
9527
Utilities
Cooling system
Multi Units
Building Details
Year built
1920
Number of units
4
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# MDBA2202836
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 1920 brick quadplex contains four residential units and six individual storage units intended for non-vehicle use. The property is fully occupied and measures 2,220 square feet on a 0.0599-acre lot. Multi-unit cooling serves the building, while on-street parking is available directly outside the property.
Located at 1436 Light St in Baltimore, the property is minutes from Federal Hill and Riverside Park, with bars and restaurants in the surrounding area. Public transportation is nearby, and a parking garage is also located close to the property. The property may be purchased together with 1434 Light St.
Located at 1436 Light St in Baltimore, the property is minutes from Federal Hill and Riverside Park, with bars and restaurants in the surrounding area. Public transportation is nearby, and a parking garage is also located close to the property. The property may be purchased together with 1434 Light St.
Key Highlights
- Fully occupied 4‑unit multifamily property
- Six individual non‑vehicle storage units included
- 2,220 square feet on a 0.0599‑acre lot
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
$32,601
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
5.79%
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%
$652,020
$652.0K
Cap Rate 7%
$465,729
$465.7K
Cap Rate 9%
$362,233
$362.2K
Market Conditions
NOI Build-Up for 2,220 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
$49.3K $22.20/SF
− Vacancy
−$2.7K −$1.22/SF
EGI
$46.6K $20.98/SF
− OpEx
−$14.0K −$6.29/SF
NOI
$32.6K $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%
$652,020
Cap Rate 7%
$465,729
Cap Rate 9%
$362,233
Alternative Uses
Best Use
Multifamily LT 5
$465.7K
$407.5K – $543.4K
NOI $32,601 @ 7.0% cap · market cap 5.79%
Second Best
Apartment 5plus
$413.2K
$361.5K – $482.1K
NOI $28,923 @ 7.0% cap · market cap 5.14%
Theoretical Best
Office A
$531.9K
$465.4K – $620.5K
NOI $37,230 @ 7.0% cap · market cap 6.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
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?
Quadplex - Fully occupied multifamily property with six individual non-vehicle storage units and convenient nearby parking options.
Where is this quadplex located?
The property is located at 1436 LIGHT Street Baltimore, MD.
What is the asking price?
The asking price for this property is $563,000.
What are key features of this property?
This property features: Fully occupied 4‑unit multifamily property; Six individual non‑vehicle storage units included; 2,220 square feet on a 0.0599‑acre lot
