2-Unit Federal-Style
For Sale
$565,900
1501 E BALTIMORE Street, Baltimore, MD 21231
Multi-Family, BALTIMORE, MD
Property Size2,424 SF
Lot Size0.03 Acres
Price / SF$233.46
Days on Market47
Property Features for 1501 E BALTIMORE Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking features
Alley
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
2,424 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
11949
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
private kitchen
in-unit washer and dryer
Building Details
Year built
1920
Number of units
2
Architectural style
Federal
Listing Agency:
JPAR Real Estate Professionals
(301) 684-4895
Listed By:
Marizel C Brewington · License #675141
(619) 607-8530
Added: Sep 14
Changed: Oct 17
Last Checked: Oct 30 at 7:06PM
MLS# MDBA2231092
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.
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Investment Insights
Based on property information with market context.
This Federal-style duplex in Baltimore contains 2,424 square feet on a 0.03-acre lot and is arranged as two separate residences. The upper unit has five rooms and two full bathrooms; the lower unit includes two bedrooms and one full bathroom. Each residence has a private kitchen and its own washer and dryer. Forced-air heating and central air conditioning serve the property, which was built in 1920.
The upper unit is rented by the room and currently has three tenants, with two rooms vacant. The property is being sold in its current condition and configuration. Buyers should verify zoning, permitted use, unit configuration, room count, square footage, and rental and licensing requirements with Baltimore City agencies.
Updates since October 2023 include a renovated full bathroom and new microwave in the lower unit, a new dishwasher in the upper unit, and a new washing machine for general use.
The upper unit is rented by the room and currently has three tenants, with two rooms vacant. The property is being sold in its current condition and configuration. Buyers should verify zoning, permitted use, unit configuration, room count, square footage, and rental and licensing requirements with Baltimore City agencies.
Updates since October 2023 include a renovated full bathroom and new microwave in the lower unit, a new dishwasher in the upper unit, and a new washing machine for general use.
Key Highlights
- Two residences totaling 2,424 square feet on a 0.03‑acre lot
- Upper unit has five rooms and two full bathrooms; three tenants occupy it, with two rooms vacant
- Lower unit includes 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
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 - Separate kitchens and in-unit laundry serve both residences.
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: Two residences totaling 2,424 square feet on a 0.03‑acre lot; Upper unit has five rooms and two full bathrooms; three tenants occupy it, with two rooms vacant; Lower unit includes two bedrooms and one full bathroom
