Rebuilt End-Unit
For Sale
$539,900
1812 Guilford Avenue, Baltimore, MD 21202
Four finished levels combine historic detailing, updated systems, two kitchen and bath areas, and flexible commercial occupancy.
Property Size3,264 SF
Price / SF$176.44
Days on Market109
Property Features for 1812 Guilford Avenue
General Information
Standard status
Active
Size
3,264 SF
Property subtype
Multi-Family
Zoning
R-8
Taxes and HOA fees
Annual Taxes
$11,406
Amenities
Electric
Yes
No
Assessor
2nd Kitchen
2
No Pool
Public
R
0.04
Estimated
Driveway,Off Street
Concrete Perimeter
60000.00
Building Details
Building Size
3,264 SF
Year Built
1890
Listing Agency:
Cummings & Co. Realtors
(856) 222-0077
Listed By:
Ryan LeBon
Source:
Thetristaterealestategroup
Added: May 15
Changed: Aug 30
Last Checked: Aug 30 at 1:37PM
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 Cummings & Co. Realtors
Investment Insights
Based on property information with market context.
This 3,060-square-foot end-of-group townhome is configured as a duplex across 4 finished levels, with an upper layout offering 5 bedrooms and 2 bathrooms and a lower layout with 4 bedrooms and 2 bathrooms. The property was comprehensively rebuilt approximately 10 years ago, including the rear exterior wall, underpinning, excavation, joists, subfloors, framing, and mechanical systems. Interior features include hardwood flooring, high ceilings, oversized rooms, replicated historic trim, newer kitchens and bathrooms, spacious laundry areas, wide hallways, and 16 additional side-facing windows. A rear deck, off-street parking, and a finished walk-out basement with a 76-inch ceiling add functional space.
The building is currently leased to a senior care business, with the commercial tenant responsible for repairs and maintenance under the lease terms. R-8 zoning supports the property’s existing classification. The address is near Penn Station, MICA, the University of Baltimore, Mount Vernon, and the Charles Theatre, within the Greenmount West and Station North Arts District areas.
The building is currently leased to a senior care business, with the commercial tenant responsible for repairs and maintenance under the lease terms. R-8 zoning supports the property’s existing classification. The address is near Penn Station, MICA, the University of Baltimore, Mount Vernon, and the Charles Theatre, within the Greenmount West and Station North Arts District areas.
Key Highlights
- 3,060 SF end‑of‑group townhome configured as a duplex
- 4 finished levels with upper 5‑bedroom and lower 4‑bedroom layouts
- Comprehensively rebuilt approximately 10 years ago, including structural and mechanical systems
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
$44,937
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
8.32%
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%
$898,740
$898.7K
Cap Rate 7%
$641,957
$642.0K
Cap Rate 9%
$499,300
$499.3K
Market Conditions
NOI Build-Up for 3,060 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
$67.9K $22.20/SF
− Vacancy
−$3.7K −$1.22/SF
EGI
$64.2K $20.98/SF
− OpEx
−$19.3K −$6.29/SF
NOI
$44.9K $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%
$898,740
Cap Rate 7%
$641,957
Cap Rate 9%
$499,300
Alternative Uses
Best Use
Multifamily LT 5
$642.0K
$561.7K – $749.0K
NOI $44,937 @ 7.0% cap · market cap 8.32%
Second Best
Apartment 5plus
$569.5K
$498.3K – $664.5K
NOI $39,867 @ 7.0% cap · market cap 7.38%
Theoretical Best
Office A
$733.1K
$641.5K – $855.3K
NOI $51,316 @ 7.0% cap · market cap 9.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,378
Businesses Nearby
Explore this area
Business Placement
Demographics for 21202, MD
22,247
Population
12,731
Households
1.7
Avg Household Size
33
Median Age
48%
College-Educated
86%
High-School Grad
1.6 sq mi
ZIP Area
13,904
Density / Sq Mi
$61,578
Median Household Income
$53,609
Median Earnings
$1,497
Median Rent
$307,700
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?
Duplex - Four finished levels combine historic detailing, updated systems, two kitchen and bath areas, and flexible commercial occupancy.
Where is this duplex located?
The property is located at 1812 Guilford Avenue Baltimore, MD.
What is the asking price?
The asking price for this property is $539,900.
What are key features of this property?
This property features: 3,060 SF end‑of‑group townhome configured as a duplex; 4 finished levels with upper 5‑bedroom and lower 4‑bedroom layouts; Comprehensively rebuilt approximately 10 years ago, including structural and mechanical systems
