Federal-Style
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 Market47
Property Features for 1501 E BALTIMORE STREET
General Information
Standard status
Active
Size
2,424 SF
Property subtype
Duplex
Site & Location
Neighborhood
Washington Hill
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 14
Changed: Oct 29
Last Checked: Oct 30 at 3:53PM
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
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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 / Yr
$35,597
Cap Rate
6.29%
Suggested Prices Based on Cap Rates
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
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 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.
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Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
8,120
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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Market
Vacancy Rate% for Multifamily in South region
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
