Federal-Style
New
For Sale
$565,900
1501 E BALTIMORE STREET, Baltimore, MD 21231
Two separately configured units offer private kitchens and in-unit laundry.
Property Size2,424 SF
Price / SF$233.46
Days on Market4
Property Features for 1501 E BALTIMORE STREET
General Information
Standard status
Active
Size
2,424 SF
Property subtype
Duplex
Additional Details
Gross Income
$43,200
Multifamily Units
2
Amenities
private kitchen
in-unit washer and dryer
Building Details
Year Built
1920
Buildings
1
Construction
Federal-style
Tenancy
Multi
Listing Agency:
JPAR Real Estate Professionals
(301) 684-4895
Listed By:
Marizel C Brewington · License #SP40002314
(619) 607-8530
Source:
Cummingsrealtors
Added: Sep 12
Changed: Sep 14
Last Checked: Sep 15 at 5:41AM
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 JPAR Real Estate Professionals
Investment Insights
Based on property information with market context.
Built in 1920, this 2,424-square-foot Baltimore City duplex contains two separately configured living units. The upper residence includes five rooms and two full bathrooms and is arranged for room-by-room occupancy, while the lower unit provides two bedrooms and one full bathroom. Each unit has a private kitchen and its own washer and dryer.
The property is currently occupied and is being offered in its existing condition and configuration. Recent improvements include a renovated full bathroom and new microwave in the lower unit, along with a new dishwasher in the upper unit. A new washing machine was also added for common use. The property is located at 1501 E Baltimore Street in Baltimore, Maryland 21231.
The property is currently occupied and is being offered in its existing condition and configuration. Recent improvements include a renovated full bathroom and new microwave in the lower unit, along with a new dishwasher in the upper unit. A new washing machine was also added for common use. The property is located at 1501 E Baltimore Street in Baltimore, Maryland 21231.
Key Highlights
- 2,424‑square‑foot duplex at 1501 E Baltimore Street in Baltimore, MD 21231
- Upper unit includes five rooms, two full bathrooms, and three current tenants
- Lower unit offers two bedrooms and one full bathroom
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
$35,597
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
6.29%
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%
$711,940
$711.9K
Cap Rate 7%
$508,529
$508.5K
Cap Rate 9%
$395,522
$395.5K
Market Conditions
NOI Build-Up for 2,424 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
$53.8K $22.20/SF
− Vacancy
−$3.0K −$1.22/SF
EGI
$50.9K $20.98/SF
− OpEx
−$15.3K −$6.29/SF
NOI
$35.6K $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%
$711,940
Cap Rate 7%
$508,529
Cap Rate 9%
$395,522
Alternative Uses
Best Use
Multifamily LT 5
$508.5K
$445.0K – $593.3K
NOI $35,597 @ 7.0% cap · market cap 6.29%
Second Best
Apartment 5plus
$451.2K
$394.8K – $526.4K
NOI $31,581 @ 7.0% cap · market cap 5.58%
Theoretical Best
Office A
$580.7K
$508.1K – $677.5K
NOI $40,651 @ 7.0% cap · market cap 7.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
8,120
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two separately configured units offer private kitchens and in-unit laundry.
Where is this duplex located?
The property is located at 1501 E BALTIMORE STREET Baltimore, MD.
What is the asking price?
The asking price for this property is $565,900.
What are key features of this property?
This property features: 2,424‑square‑foot duplex at 1501 E Baltimore Street in Baltimore, MD 21231; Upper unit includes five rooms, two full bathrooms, and three current tenants; Lower unit offers two bedrooms and one full bathroom
