Architectural Triplex with Modern
For Sale
$649,000
17 E 21ST STREET, Baltimore, MD 21218
End-of-row triplex with renovated units and convenient location.
Property Size3,732 SF
Days on Market146
Property Features for 17 E 21ST STREET
General Information
Standard status
Active
Size
3,732 SF
Property subtype
Triplex
Taxes and HOA fees
Annual Taxes
$9,443
Building Details
Building Size
3,732 SF
Year Built
1900
Listing Agency:
Neighborhood Assistance Corporation of America
Listed By:
Jenn Schneider · License #657256-MD
(410) 802-1190
Source:
Barnesrealestatecompany
Added: Apr 24
Changed: Sep 12
Last Checked: Sep 15 at 9:08AM
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 Neighborhood Assistance Corporation of America
Investment Insights
Based on property information with market context.
This end-of-row triplex features an architectural A-frame design with stucco exterior. Unit 1 includes a fully finished bi-level English basement, suitable for living space. The open layout allows natural light to flood the living spaces. In-unit laundry facilities are available, including a washer and dryer. Unit 1 also features private garage access and exposed brick. An oversized basement garage provides convenience, and on-street parking is available. Units 2 and 3 have private entrances. The property was renovated in 2016. The property is located less than a mile from a commuter rail station. The bike score is 80, indicating it is very bikeable. The walk score is 89, indicating it is very walkable. The transit score is 92, indicating it is a rider's paradise. The property is fully furnished.
Key Highlights
- Excellent Transit Score (92): Rider's Paradise, less than a mile from a commuter rail station.
- Triplex with renovated units (2016) offering investment potential and the option to live in one unit.
- Unit 1 features a fully finished Bi‑Level English basement, providing versatile living 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
$48,534
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
7.48%
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%
$970,680
$970.7K
Cap Rate 7%
$693,343
$693.3K
Cap Rate 9%
$539,267
$539.3K
Market Conditions
NOI Build-Up for 3,732 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
$73.9K $19.80/SF
− Vacancy
−$4.6K −$1.22/SF
EGI
$69.3K $18.58/SF
− OpEx
−$20.8K −$5.57/SF
NOI
$48.5K $13.00/SF
Area
ZIP 21218
Vacancy
6.17%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
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%
$970,680
Cap Rate 7%
$693,343
Cap Rate 9%
$539,267
Alternative Uses
Best Use
Multifamily LT 5
$693.3K
$606.7K – $808.9K
NOI $48,534 @ 7.0% cap · market cap 7.48%
Second Best
Apartment 5plus
$618.5K
$541.2K – $721.6K
NOI $43,297 @ 7.0% cap · market cap 6.67%
Theoretical Best
Office A
$1.01M
$887.8K – $1.18M
NOI $71,027 @ 7.0% cap · market cap 10.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,956
Businesses Nearby
Explore this area
Business Placement
Demographics for 21218, MD
46,238
Population
21,751
Households
2.1
Avg Household Size
34
Median Age
44%
College-Educated
90%
High-School Grad
4.3 sq mi
ZIP Area
10,753
Density / Sq Mi
$58,378
Median Household Income
$38,316
Median Earnings
$1,239
Median Rent
$229,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - End-of-row triplex with renovated units and convenient location.
Where is this triplex located?
The property is located at 17 E 21ST STREET Baltimore, MD.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Excellent Transit Score (92): Rider's Paradise, less than a mile from a commuter rail station.; Triplex with renovated units (2016) offering investment potential and the option to live in one unit.; Unit 1 features a fully finished Bi‑Level English basement, providing versatile living space.
