Restored Four-Unit Victorian
New
For Sale
$1,499,999
1801 EUTAW PL, Baltimore, MD 21217
Historic multifamily property with four legally zoned residences, separate metering, detailed interiors, and a walled rear garden.
Property Size8,690 SF
Price / SF$172.61
Days on Market3
Property Features for 1801 EUTAW PL
General Information
Standard status
Active
Size
8,690 SF
Property subtype
Multi-family
Listing Agency:
Berkshire Hathaway HomeServices Homesale Realty
(410) 814-2400
Listed By:
Christopher J Cooke · License #596183
(443) 802-2728
Source:
Hostetterrealty
Added: Sep 11
Last Checked: Sep 13 at 11:48AM
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 Berkshire Hathaway HomeServices Homesale Realty
Investment Insights
Based on property information with market context.
The restored Hawley-Hutzler House is configured as a four-unit multifamily property across four finished levels. Its Victorian character is expressed through ornate stone and brick detailing, historic stained glass, carved woodwork, plaster moldings, hardwood floors, period mantels, fireplaces, oversized windows, and formal entertaining rooms. One expansive residence occupies the principal living spaces, while three additional residences provide rental accommodations within the structure.
At the rear, a 48' x 45' enclosed garden includes a 7-foot wall, perennials, and native plantings. The backyard directly adjoins the 2.9-acre Arnold Sumpter Park, adding open space to the urban setting. Each unit is separately metered. The property is located at 1801 Eutaw Pl in Baltimore, Maryland.
At the rear, a 48' x 45' enclosed garden includes a 7-foot wall, perennials, and native plantings. The backyard directly adjoins the 2.9-acre Arnold Sumpter Park, adding open space to the urban setting. Each unit is separately metered. The property is located at 1801 Eutaw Pl in Baltimore, Maryland.
Key Highlights
- Four legally zoned residential units across four finished levels
- Restored Victorian architecture with stained glass, carved woodwork, fireplaces, and plaster moldings
- Three rental residences integrated within the property
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
$127,615
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
8.51%
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%
$2,552,300
$2.6M
Cap Rate 7%
$1,823,071
$1.8M
Cap Rate 9%
$1,417,944
$1.4M
Market Conditions
NOI Build-Up for 8,690 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
$192.9K $22.20/SF
− Vacancy
−$10.6K −$1.22/SF
EGI
$182.3K $20.98/SF
− OpEx
−$54.7K −$6.29/SF
NOI
$127.6K $14.69/SF
Area
Baltimore, MD
Vacancy
5.50%
Lease Rate
$22.20 /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%
$2,552,300
Cap Rate 7%
$1,823,071
Cap Rate 9%
$1,417,944
Alternative Uses
Best Use
Multifamily LT 5
$1.82M
$1.60M – $2.13M
NOI $127,615 @ 7.0% cap · market cap 8.51%
Second Best
Apartment 5plus
$1.62M
$1.42M – $1.89M
NOI $113,217 @ 7.0% cap · market cap 7.55%
Theoretical Best
Office A
$2.08M
$1.82M – $2.43M
NOI $145,732 @ 7.0% cap · market cap 9.72%
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
1,735
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
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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 - Historic multifamily property with four legally zoned residences, separate metering, detailed interiors, and a walled rear garden.
Where is this quadplex located?
The property is located at 1801 EUTAW PL Baltimore, MD.
What is the asking price?
The asking price for this property is $1,499,999.
What are key features of this property?
This property features: Four legally zoned residential units across four finished levels; Restored Victorian architecture with stained glass, carved woodwork, fireplaces, and plaster moldings; Three rental residences integrated within the property
