Three-Unit Apartment
1637 East Cold Spring Lane Baltimore, MD 21218
1637 East Cold Spring Lane, Baltimore, MD, 21218
$278,000
For Sale
$278,000
Three-unit multifamily property with a recently renovated first-floor unit and two occupied units.
Property Size1,280 SF
Price / SF$217.19
Days on Market74
Property Features for 1637 East Cold Spring Lane
General Information
- Standard status
- Active
- Size
- 1,280 SF
- Property subtype
- Multi-Family / Ground Rent
Building Details
- Year Built
- 1947
Listing agency
Homeset Realty Inc
(443) 277-1000
Listed by
Marjorie G Adams · License #659098
(443) 277-1000
Source
Compass
Added: May 11 Updated: Jul 22 at 4:36PM Checked: Jul 22 at 4:36PM
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 Homeset Realty Inc
Investment Insights
Based on property information with market context.
This three-unit apartment building includes three separate living units. The first-floor unit has been recently renovated, featuring a brand-new bathroom and modern finishes. The first-floor unit is currently vacant, and the second-floor and lower level/basement units are currently rented and occupied.
The property is located in Baltimore City and is within city limits. The listing notes proximity to parks and recreation, shopping, and restaurants.
The lower-level/basement unit has two cats. The listing advises re-locking the bedroom door when leaving so the cats do not enter.
The property is located in Baltimore City and is within city limits. The listing notes proximity to parks and recreation, shopping, and restaurants.
The lower-level/basement unit has two cats. The listing advises re-locking the bedroom door when leaving so the cats do not enter.
Key Highlights
- Three‑unit apartment building in Baltimore City with first‑floor unit recently renovated
- First‑floor renovation includes a brand‑new bathroom and modern finishes
- First‑floor unit is currently vacant, while the 2nd floor and lower level/basement units are occupied
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 | $25.3k | $19.80 |
| − Vacancy | −$1.6k | −$1.22 |
| EGI | $23.8k | $18.58 |
| − OpEx | −$7.1k | −$5.57 |
| NOI | $16.6k | $13.00 |
1,280 SF · lease $19.80/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$237.8K
$208.1K – $277.4K
NOI $16,646 @ 7.0% cap · market cap 5.99%
Second Best
Apartment 5plus
$212.1K
$185.6K – $247.5K
NOI $14,850 @ 7.0% cap · market cap 5.34%
Theoretical Best
Office A
$348.0K
$304.5K – $406.0K
NOI $24,361 @ 7.0% cap · market cap 8.76%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three-unit multifamily property with a recently renovated first-floor unit and two occupied units.
Where is this triplex located?
The property is located at 1637 East Cold Spring Lane Baltimore, MD.
What is the asking price?
The asking price for this property is $278,000.
What are key features of this property?
This property features: Three‑unit apartment building in Baltimore City with first‑floor unit recently renovated; First‑floor renovation includes a brand‑new bathroom and modern finishes; First‑floor unit is currently vacant, while the 2nd floor and lower level/basement units are occupied
