1616 EASTERN Avenue, Baltimore, MD 21231
- Added:
- Mar 31, 2026
- Days on Market:
- 84
- Last Refresh:
- Jun 22 at 7:06 pm
Property Features for 1616 EASTERN Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking
- 3
- Parking features
- Garage - Attached
- Standard status
- Active
- Size
- 1,945 SF
Taxes and HOA fees
- Tax Annual Amount
- 5450
Utilities
- Heating system
- Forced Air
Building Details
- Year built
- 1890
- Number of units
- 2
- Building materials
- Brick
- Architectural style
- Federal
Listing agent Savannah Marie Spanellis License #5021934 (443) 678-2258
Listing office Cummings & Co. Realtors 108 W Timonium Road unit: 100, Baltimore, MD (410) 823-0033
Listing date Mar 31, 2026
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.
HighLights
- Built in 1890 with Federal architectural style and brick construction
- Side‑by‑side duplex with 2 units: 3 bed/2 bath and 1 bed/1 bath (both currently vacant)
- Approx. 1,945 SF of living space and C‑1 (Commercial) zoning for residential, mixed‑use, or business uses
- Hybrid rental history reported at approx. $47,000 annually before expenses using one short‑term and one long‑term unit
- Approx. 1,000 SF attached 3‑car garage plus potential for future expansion, including potential to build above (subject to city approval)
- Includes a private rooftop deck and an unfinished basement for storage or future use
Overview
The property is zoned C-1 (Commercial), supporting a range of residential, mixed-use, or business applications. A major feature is the approximately 1,000 square foot three-car garage, a rare amenity in this setting. While the garage is not currently configured as living space, it presents a foundation for expansion, including the potential to build above subject to City of Baltimore approval. The home is positioned in the heart of Fell’s Point and is within walking distance of the waterfront, restaurants, nightlife, and local shops.
With both units vacant, the property can be reintroduced quickly for rental occupancy or owner use. The seller previously implemented a hybrid approach, operating one unit as a short-term rental and leasing the other long-term, generating approximately $47,000 annually before expenses. For buyers seeking a versatile duplex with commercial zoning flexibility and development-minded improvements, this asset combines existing income history with meaningful expansion options.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $43.2k | $22.20 |
| − Vacancy | −$2.4k | −$1.22 |
| EGI | $40.8k | $20.98 |
| − OpEx | −$12.2k | −$6.29 |
| NOI | $28.6k | $14.69 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Baltimore
- County
- Baltimore
- State
- Maryland
- Longitude
- -76.59472
- Latitude
- 39.28579