Victorian Duplex with Private
For Sale
$649,999
1526 MCCULLOH Street, Baltimore, MD 21217
MULTI_FAMILY - Victorian - BALTIMORE, MD
Property Size4,112 SF
Lot Size0.02 Acres
Price / SF$158.07
Days on Market57
Property Features for 1526 MCCULLOH Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking
2
Parking features
Off Street, Carport
Subdivision
MARBLE HILL
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
4,112 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
708
Utilities
Heating system
Forced Air
Cooling system
Ceiling Fan(s), Central Air
Amenities
gourmet kitchen
spa-inspired bathrooms
dual-zone HVAC
wood-framed windows
Building Details
Year built
1920
Number of units
2
Building materials
Brick
Architectural style
Victorian
Listing Agency:
Keller Williams Legacy · Keller Williams Realty
(443) 660-9229
Listed By:
Juwan Lee Richardson
(443) 455-0773
Added: Jun 16
Changed: Aug 6
Last Checked: Aug 11 at 7:06PM
MLS# MDBA2219928
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 Victorian brick duplex, built in 1920, contains 4,112 square feet and combines substantial interior volume with updated building systems. The main residence features 15-foot ceilings, wood-framed windows, oversized bedrooms, spa-inspired bathrooms, and a gourmet kitchen. A separate lower level provides a private entrance, full kitchen, and flexible suite configuration. Dual-zone HVAC, new electrical, plumbing, and mechanical systems, plus private rear parking, add practical functionality.
The property is located at 1526 McCulloh Street in Baltimore’s Marble Hill area, near historic architecture, Bolton Hill, Penn Station, and downtown Baltimore. Parking includes a carport and off-street spaces, while heating is provided by forced air and cooling includes central air and ceiling fans.
The property is located at 1526 McCulloh Street in Baltimore’s Marble Hill area, near historic architecture, Bolton Hill, Penn Station, and downtown Baltimore. Parking includes a carport and off-street spaces, while heating is provided by forced air and cooling includes central air and ceiling fans.
Key Highlights
- 4,112‑square‑foot Victorian duplex built in 1920
- 15‑foot ceilings and wood‑framed windows
- Self‑contained lower‑level suite with private entrance and full kitchen
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
$53,573
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
8.24%
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%
$1,071,460
$1.1M
Cap Rate 7%
$765,329
$765.3K
Cap Rate 9%
$595,256
$595.3K
Market Conditions
NOI Build-Up for 4,112 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
$103.6K $25.20/SF
− Vacancy
−$6.2K −$1.51/SF
EGI
$97.4K $23.69/SF
− OpEx
−$43.8K −$10.66/SF
NOI
$53.6K $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 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%
$1,071,460
Cap Rate 7%
$765,329
Cap Rate 9%
$595,256
Alternative Uses
Best Use
Multifamily LT 5
$862.7K
$754.8K – $1.01M
NOI $60,386 @ 7.0% cap · market cap 9.29%
Second Best
Apartment 5plus
$765.3K
$669.7K – $892.9K
NOI $53,573 @ 7.0% cap · market cap 8.24%
Theoretical Best
Office A
$985.1K
$862.0K – $1.15M
NOI $68,958 @ 7.0% cap · market cap 10.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,968
Businesses Nearby
Explore this area
Business Placement
Demographics for 21217, MD
30,448
Population
20,064
Households
1.5
Avg Household Size
38
Median Age
22%
College-Educated
83%
High-School Grad
2.1 sq mi
ZIP Area
14,499
Density / Sq Mi
$37,207
Median Household Income
$40,668
Median Earnings
$1,065
Median Rent
$175,900
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?
Duplex - Brick duplex includes a self-contained lower level with private entry and full kitchen.
Where is this duplex located?
The property is located at 1526 MCCULLOH Street Baltimore, MD.
What is the asking price?
The asking price for this property is $649,999.
What are key features of this property?
This property features: 4,112‑square‑foot Victorian duplex built in 1920; 15‑foot ceilings and wood‑framed windows; Self‑contained lower‑level suite with private entrance and full kitchen
