Residential Income Property with
For Sale
$355,000
16 MARY CARROLL COURT Unit 16, Baltimore, MD 21208
Condominium layout includes a den or office and a private primary bath.
Property Size1,925 SF
Days on Market75
Property Features for 16 MARY CARROLL COURT Unit 16
General Information
Standard status
Active
Size
1,925 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$2,727
Building Details
Building Size
1,925 SF
Year Built
1994
Listing Agency:
Compass
(410) 404-4945
Listed By:
Luke Zerwitz · License #672774
(410) 404-4945
Source:
Thehulsmangroup
Added: Jun 10
Changed: Aug 20
Last Checked: Aug 22 at 10:56AM
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 Compass
Investment Insights
Based on property information with market context.
This residential income property is a 2-bedroom, 2-bath condominium with an interior arrangement centered on single-level living. The kitchen provides substantial cabinet and counter space, while the primary suite includes a private bath and a large walk-in closet. A den or office adds flexible interior space, and the attached one-car garage offers storage and parking convenience. Stairs lead to the entrance, with the living areas arranged on one level after entry.
Built in 1994, the property is located at 16 Mary Carroll Court, Unit 16, in Baltimore, Maryland. The surrounding neighborhood is described as quiet and well maintained, with shopping, dining, major commuter routes, and everyday amenities nearby.
Built in 1994, the property is located at 16 Mary Carroll Court, Unit 16, in Baltimore, Maryland. The surrounding neighborhood is described as quiet and well maintained, with shopping, dining, major commuter routes, and everyday amenities nearby.
Key Highlights
- 2‑bedroom, 2‑bath condominium
- Primary suite with private bath and large walk‑in closet
- Den or office area provides flexible additional space
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
$25,080
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
7.06%
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%
$501,600
$501.6K
Cap Rate 7%
$358,286
$358.3K
Cap Rate 9%
$278,667
$278.7K
Market Conditions
NOI Build-Up for 1,925 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
$48.5K $25.20/SF
− Vacancy
−$2.9K −$1.51/SF
EGI
$45.6K $23.69/SF
− OpEx
−$20.5K −$10.66/SF
NOI
$25.1K $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%
$501,600
Cap Rate 7%
$358,286
Cap Rate 9%
$278,667
Alternative Uses
Best Use
Apartment 5plus
$358.3K
$313.5K – $418.0K
NOI $25,080 @ 7.0% cap · market cap 7.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$461.2K
$403.5K – $538.0K
NOI $32,282 @ 7.0% cap · market cap 9.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,446
Businesses Nearby
Explore this area
Business Placement
Demographics for 21208, MD
35,007
Population
16,397
Households
2.1
Avg Household Size
46
Median Age
49%
College-Educated
94%
High-School Grad
12.6 sq mi
ZIP Area
2,778
Density / Sq Mi
$90,822
Median Household Income
$55,620
Median Earnings
$1,672
Median Rent
$313,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium layout includes a den or office and a private primary bath.
Where is this residential income property located?
The property is located at 16 MARY CARROLL COURT Unit 16 Baltimore, MD.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: 2‑bedroom, 2‑bath condominium; Primary suite with private bath and large walk‑in closet; Den or office area provides flexible additional space
