Updated Quadplex with Mixed Unit
For Sale
$585,000
1708 MCCULLOH ST, Baltimore, MD 21217
Four-unit residential property with varied floor plans and separate electrical metering capacity.
Property Size4,000 SF
Price / SF$146.25
Days on Market9
Property Features for 1708 MCCULLOH ST
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Multi-family
Units
Unit Mix
2 x 3BR/2BA, 2 x 2BR/1BA
Multifamily Units
4
Listing Agency:
Spotlight Realty
(800) 460-1566
Listed By:
Teresa Craig · License #507963
(301) 742-4813
Source:
Hostetterrealty
Added: Sep 7
Last Checked: Sep 15 at 9:52AM
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 Spotlight Realty
Investment Insights
Based on property information with market context.
This Baltimore quadplex contains 4,000 square feet and offers a balanced unit mix: two residences with 3 bedrooms and 2 bathrooms each, along with two 2-bedroom, 1-bathroom residences. The property is described as updated, providing a range of layouts within one multifamily asset.
Located at 1708 McCulloh St in Baltimore, the building has 2 electrical meters and can support individual metering. The combination of multiple unit configurations and existing electrical infrastructure provides a clearly defined operating setup for a four-unit property.
Located at 1708 McCulloh St in Baltimore, the building has 2 electrical meters and can support individual metering. The combination of multiple unit configurations and existing electrical infrastructure provides a clearly defined operating setup for a four-unit property.
Key Highlights
- Four‑unit quadplex with 4,000 square feet
- Two 3‑bedroom, 2‑bathroom units
- Two 2‑bedroom, 1‑bathroom units
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
$52,114
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
8.91%
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%
$1,042,280
$1.0M
Cap Rate 7%
$744,486
$744.5K
Cap Rate 9%
$579,044
$579.0K
Market Conditions
NOI Build-Up for 4,000 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
$100.8K $25.20/SF
− Vacancy
−$6.0K −$1.51/SF
EGI
$94.8K $23.69/SF
− OpEx
−$42.6K −$10.66/SF
NOI
$52.1K $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%
$1,042,280
Cap Rate 7%
$744,486
Cap Rate 9%
$579,044
Alternative Uses
Best Use
Multifamily LT 5
$839.2K
$734.3K – $979.0K
NOI $58,741 @ 7.0% cap · market cap 10.04%
Second Best
Apartment 5plus
$744.5K
$651.4K – $868.6K
NOI $52,114 @ 7.0% cap · market cap 8.91%
Theoretical Best
Office A
$958.3K
$838.5K – $1.12M
NOI $67,080 @ 7.0% cap · market cap 11.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,968
Businesses Nearby
Explore this area
Business Placement
Demographics for 21217, MD
30,448
Population
20,064
Households
1.5
Avg Household Size
38
Median Age
22%
College-Educated
83%
High-School Grad
2.1 sq mi
ZIP Area
14,499
Density / Sq Mi
$37,207
Median Household Income
$40,668
Median Earnings
$1,065
Median Rent
$175,900
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?
Quadplex - Four-unit residential property with varied floor plans and separate electrical metering capacity.
Where is this quadplex located?
The property is located at 1708 MCCULLOH ST Baltimore, MD.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Four‑unit quadplex with 4,000 square feet; Two 3‑bedroom, 2‑bathroom units; Two 2‑bedroom, 1‑bathroom units
