Historic Victorian
For Sale
$1,499,999
1801 EUTAW PLACE, Baltimore, MD 21217
Restored 1886 Victorian quadplex with four legally zoned residential units and separately metered utilities.
Property Size8,690 SF
Days on Market17
Property Features for 1801 EUTAW PLACE
General Information
Standard status
Active
Size
8,690 SF
Property subtype
Quadruplex
Taxes and HOA fees
Annual Taxes
$17,488
Building Details
Building Size
8,690 SF
Year Built
1886
Listing Agency:
Berkshire Hathaway HomeServices Homesale Realty
(443) 802-2728
Listed By:
Christopher J Cooke · License #596183
(443) 802-2728
Source:
Barnesrealestatecompany
Added: Jul 30
Changed: Aug 12
Last Checked: Aug 14 at 1:20PM
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.
Restored in a historic manner, the Hawley-Hutzler House is an 1886 Victorian residence configured as four legally zoned residential units. The property spans more than 8,200 square feet across four finished levels, with architectural features that include soaring ceilings, ornate stonework, elaborate cornices, historic stained glass windows, intricate brick detailing, and working and decorative fireplaces. Inside, the home also reflects period craftsmanship through hand-carved woodwork, original plaster moldings, oversized windows, and richly detailed millwork.
All four units are separately metered, supporting flexible residential use within the same historic structure. The rear grounds offer a walled garden measuring 48'x45' with a 7-foot wall, landscaped with perennials and native plants. The property backs directly to Arnold Sumpter Park, creating an expansive sense of openness from the home’s outdoor space.
Located at 1801 Eutaw Place in Baltimore, the restored house combines historic character with a multi-unit configuration for residential owners and tenants.
All four units are separately metered, supporting flexible residential use within the same historic structure. The rear grounds offer a walled garden measuring 48'x45' with a 7-foot wall, landscaped with perennials and native plants. The property backs directly to Arnold Sumpter Park, creating an expansive sense of openness from the home’s outdoor space.
Located at 1801 Eutaw Place in Baltimore, the restored house combines historic character with a multi-unit configuration for residential owners and tenants.
Key Highlights
- More than 8,200 SF across four finished levels
- Configured as four legally zoned residential units
- Separately metered 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
$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
Property Profile
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Restored 1886 Victorian quadplex with four legally zoned residential units and separately metered utilities.
Where is this quadplex located?
The property is located at 1801 EUTAW PLACE 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: More than 8,200 SF across four finished levels; Configured as four legally zoned residential units; Separately metered units
