Restored Victorian Landmark in
For Sale
$1,499,999
1801 EUTAW Place, Baltimore, MD 21217
MULTI_FAMILY - Federal - BALTIMORE, MD
Property Size8,690 SF
Lot Size0.15 Acres
Price / SF$172.61
Days on Market108
Property Features for 1801 EUTAW Place
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Rooms
Dining Room, Basement
Interior features
2nd Kitchen, Bathroom - Walk-In Shower, Ceiling Fan(s), Crown Moldings, Entry Level Bedroom, Floor Plan - Traditional, Formal/Separate Dining Room, Kitchen - Gourmet, Primary Bath(s), Stain/Lead Glass, Upgraded Countertops, Wood Floors
Fireplace
1
Appliances
Dishwasher, Dryer, Microwave, Oven/Range - Gas, Washer, Refrigerator, Stainless Steel Appliances
Subdivision
BOLTON HILL HISTORIC DISTRICT
Elementary school district
BALTIMORE CITY PUBLIC SCHOOLS
Middle school district
BALTIMORE CITY PUBLIC SCHOOLS
High school district
BALTIMORE CITY PUBLIC SCHOOLS
Standard status
Active
Size
8,690 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Annual Amount
17488
Utilities
Heating system
Forced Air
Cooling system
Central Air, Window Unit(s)
Amenities
walled garden
Building Details
Year built
1886
Number of units
4
Building materials
Stone
Architectural style
Federal
Listing Agency:
Berkshire Hathaway HomeServices Homesale Realty
(410) 814-2400
Listed By:
Christopher J Cooke · License #596183
(443) 802-2728
Added: Apr 30
Changed: Aug 13
Last Checked: Aug 15 at 9:06AM
MLS# MDBA2213278
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The restored Hawley-Hutzler House, a Victorian landmark in Bolton Hill, encompasses over 8,200 square feet across four finished levels. This residence showcases 19th-century design, thoughtfully restored to celebrate its historic integrity while accommodating modern living. The home's facade, ornate stonework, and stately presence are complemented by elaborate cornices, historic stained glass windows, and intricate brick detailing. The interiors feature soaring ceilings, sweeping proportions, hand-carved woodwork, original plaster moldings, working and decorative fireplaces, and oversized windows. Configured as four legally zoned residential units, the property offers flexibility without compromising architectural character. The expansive owner's residence showcases grand parlors, detailed millwork, hardwood flooring, period mantels, and architectural embellishments. Three additional rental residences are integrated within the structure, preserving historic detail while providing an income-producing component. The rear grounds feature a 48'x45' walled garden with perennials and native plants. Backing directly to the 2.9-acre Arnold Sumpter Park, the setting enhances the estate's sense of openness. The property offers scale, craftsmanship, historic pedigree, and income potential. All units are separately metered. Monthly rental income for the 3 rental units totals $5,910/mo! The lot size is 0.1492 acres.
Key Highlights
- Restored Hawley‑Hutzler House built in 1886 with Federal architectural style and stone construction
- Over 8,200 SF across four finished levels, featuring soaring ceilings, oversized windows, and hand‑carved woodwork
- Configured as four legally zoned residential units, including an owner’s residence plus 3 rental 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
Lease Details
4
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Architectural treasure with income potential in Bolton Hill.
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: Restored Hawley‑Hutzler House built in 1886 with Federal architectural style and stone construction; Over 8,200 SF across four finished levels, featuring soaring ceilings, oversized windows, and hand‑carved woodwork; Configured as four legally zoned residential units, including an owner’s residence plus 3 rental units
