Waterfront Residential Income
For Sale
$499,900
1500 THAMES STREET Unit 403, Baltimore, MD 21231
Bi-level condominium with private outdoor spaces, two-car parking, and expansive water views.
Property Size1,890 SF
Days on Market19
Property Features for 1500 THAMES STREET Unit 403
General Information
Standard status
Active
Size
1,890 SF
Property subtype
Penthouse Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$11,819
Building Details
Building Size
1,890 SF
Year Built
2004
Listing Agency:
Berkshire Hathaway HomeServices Homesale Realty
Listed By:
Christopher J Cooke · License #596183
(443) 802-2728
Source:
Thehulsmangroup
Added: Sep 17
Changed: Oct 3
Last Checked: Oct 4 at 3:57PM
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 Berkshire Hathaway HomeServices Homesale Realty
Investment Insights
Based on property information with market context.
This bi-level condominium offers over 1,800 square feet of living space with water views throughout. The main level combines hardwood flooring, an open-concept arrangement, and a kitchen equipped with Quartz countertops, stainless-steel appliances, and substantial cabinetry. The living room connects to a private balcony, while the primary suite includes a walk-in closet and a full bath with dual vanities, soaking tub, and separate shower. A second bedroom and additional hall bath complete the main level.
Upstairs, a family room opens to a private sky deck with panoramic waterfront views. The residence includes two-car parking and was built in 2004. Its Fells Point setting places the property near the waterfront, Harbor Point, Harbor East, restaurants, shops, galleries, nightlife, the Sagamore Pendry, and the water taxi.
Upstairs, a family room opens to a private sky deck with panoramic waterfront views. The residence includes two-car parking and was built in 2004. Its Fells Point setting places the property near the waterfront, Harbor Point, Harbor East, restaurants, shops, galleries, nightlife, the Sagamore Pendry, and the water taxi.
Key Highlights
- Bi‑level condominium with over 1,800 square feet of living space
- Unobstructed water views throughout the residence
- Private balcony plus expansive private sky deck
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,624
Cap Rate
4.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$492,480
$492.5K
Cap Rate 7%
$351,771
$351.8K
Cap Rate 9%
$273,600
$273.6K
Market Conditions
NOI Build-Up for 1,890 SF
Gross rent
$47.6K $25.20/SF
− Vacancy
−$2.9K −$1.51/SF
EGI
$44.8K $23.69/SF
− OpEx
−$20.1K −$10.66/SF
NOI
$24.6K $13.03/SF
Area
Baltimore, MD
Vacancy
6.00%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$492,480
Cap Rate 7%
$351,771
Cap Rate 9%
$273,600
Alternative Uses
Best Use
Apartment 5plus
$351.8K
$307.8K – $410.4K
NOI $24,624 @ 7.0% cap · market cap 4.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$452.8K
$396.2K – $528.3K
NOI $31,695 @ 7.0% cap · market cap 6.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,178
Businesses Nearby
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Business Placement
Demographics for 21231, MD
17,062
Population
9,342
Households
1.8
Avg Household Size
33
Median Age
66%
College-Educated
95%
High-School Grad
0.9 sq mi
ZIP Area
18,958
Density / Sq Mi
$85,382
Median Household Income
$67,289
Median Earnings
$1,710
Median Rent
$336,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Bi-level condominium with private outdoor spaces, two-car parking, and expansive water views.
Where is this residential income property located?
The property is located at 1500 THAMES STREET Unit 403 Baltimore, MD.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Bi‑level condominium with over 1,800 square feet of living space; Unobstructed water views throughout the residence; Private balcony plus expansive private sky deck
