Updated Duplex with In-Unit
New
For Sale
$360,000
1646 E PRATT STREET, Baltimore, MD 21231
Tenant-occupied duplex with two updated units, including in-unit washers and dryers for Unit 1 and Unit 2.
Property Size2,295 SF
Price / SF$156.86
Days on Market5
Property Features for 1646 E PRATT STREET
General Information
Standard status
Active
Size
2,295 SF
Property subtype
Duplex
Amenities
in-unit washer and dryer
Building Details
Year Built
1920
Tenancy
Multi
Listing Agency:
ExecuHome Realty
(443) 386-6223
Listed By:
Marc C Robinson · License #589574
(443) 386-6223
Source:
Cummingsrealtors
Added: Jul 28
Changed: Jul 30
Last Checked: Jul 31 at 5:51AM
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 ExecuHome Realty
Investment Insights
Based on property information with market context.
This updated, tenant-occupied duplex provides rental income with tenants who would like to remain. Built in 1920, the property includes two separate units. Unit 1 offers one bedroom and one full bath, and Unit 2 offers two bedrooms and one full bath. Both units have been updated and feature in-unit washers and dryers.
Located at 1646 E Pratt Street in Baltimore City, the duplex is positioned near restaurants, shopping, public transportation, and major commuter routes. The property is also described as being conveniently located near Johns Hopkins.
With a clear two-unit layout and in-unit laundry for both units, the property is designed to support straightforward day-to-day occupancy for either an owner occupant or an investor seeking a ready-to-rent residential income asset.
Located at 1646 E Pratt Street in Baltimore City, the duplex is positioned near restaurants, shopping, public transportation, and major commuter routes. The property is also described as being conveniently located near Johns Hopkins.
With a clear two-unit layout and in-unit laundry for both units, the property is designed to support straightforward day-to-day occupancy for either an owner occupant or an investor seeking a ready-to-rent residential income asset.
Key Highlights
- Updated, tenant‑occupied duplex with tenants who would like to remain
- Unit 1: one bedroom and one full bath
- Unit 2: two bedrooms and one full bath
Financial Insights For Apartment 5plus
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 | $57.8k | $25.20 |
| − Vacancy | −$3.5k | −$1.51 |
| EGI | $54.4k | $23.69 |
| − OpEx | −$24.5k | −$10.66 |
| NOI | $29.9k | $13.03 |
2,295 SF · lease $25.20/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$481.5K
$421.3K – $561.7K
NOI $33,703 @ 7.0% cap · market cap 9.36%
Second Best
Apartment 5plus
$427.1K
$373.8K – $498.3K
NOI $29,900 @ 7.0% cap · market cap 8.31%
Theoretical Best
Office A
$549.8K
$481.1K – $641.5K
NOI $38,487 @ 7.0% cap · market cap 10.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
7,869
Businesses Nearby
Explore this area
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
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 - Tenant-occupied duplex with two updated units, including in-unit washers and dryers for Unit 1 and Unit 2.
Where is this duplex located?
The property is located at 1646 E PRATT STREET Baltimore, MD.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Updated, tenant‑occupied duplex with tenants who would like to remain; Unit 1: one bedroom and one full bath; Unit 2: two bedrooms and one full bath
