Two-Home Duplex
New
For Sale
$260,000
1841-1843 EAST AVENUE, Baltimore, MD 21222
Two neighboring residences offer separate kitchens, living areas, bedrooms, baths, laundry space, porches, and basement storage.
Property Size1,150 SF
Price / SF$226.09
Days on Market5
Property Features for 1841-1843 EAST AVENUE
General Information
Standard status
Active
Size
1,150 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Building Details
Year Built
1936
Buildings
2
Listing Agency:
Cummings & Co. Realtors
(410) 274-3326
Listed By:
Thomas B Maley
(410) 274-3326
Source:
Cummingsrealtors
Added: Aug 27
Changed: Aug 31
Last Checked: Aug 31 at 1:50PM
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 duplex property includes two neighboring residences totaling 1,150 square feet. The larger home at 1843 East Avenue measures 650 square feet on a 15,330-square-foot homesite and includes a kitchen, living room, bedroom, bathroom, den, laundry closet, unfinished basement, and front porch. The 500-square-foot residence at 1841 East Avenue occupies a 5,500-square-foot lot and features an eat-in kitchen, living room, bedroom, bathroom, and porch.
Constructed in 1936, the two-home configuration provides separate residential spaces within one offering. Existing layouts include core living areas, kitchens, bedrooms, and bathrooms, with additional utility and storage features in the larger residence.
Constructed in 1936, the two-home configuration provides separate residential spaces within one offering. Existing layouts include core living areas, kitchens, bedrooms, and bathrooms, with additional utility and storage features in the larger residence.
Key Highlights
- Two residences totaling 1,150 square feet
- 1843 East Avenue: 650 square feet on a 15,330‑square‑foot homesite
- 1841 East Avenue: 500 square feet on a 5,500‑square‑foot lot
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
$16,888
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
6.50%
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%
$337,760
$337.8K
Cap Rate 7%
$241,257
$241.3K
Cap Rate 9%
$187,644
$187.6K
Market Conditions
NOI Build-Up for 1,150 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
$25.5K $22.20/SF
− Vacancy
−$1.4K −$1.22/SF
EGI
$24.1K $20.98/SF
− OpEx
−$7.2K −$6.29/SF
NOI
$16.9K $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%
$337,760
Cap Rate 7%
$241,257
Cap Rate 9%
$187,644
Alternative Uses
Best Use
Multifamily LT 5
$241.3K
$211.1K – $281.5K
NOI $16,888 @ 7.0% cap · market cap 6.50%
Second Best
Apartment 5plus
$214.0K
$187.3K – $249.7K
NOI $14,983 @ 7.0% cap · market cap 5.76%
Theoretical Best
Office A
$275.5K
$241.1K – $321.4K
NOI $19,286 @ 7.0% cap · market cap 7.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
432
Businesses Nearby
Explore this area
Business Placement
Demographics for 21222, MD
59,062
Population
24,054
Households
2.5
Avg Household Size
38
Median Age
14%
College-Educated
85%
High-School Grad
11.5 sq mi
ZIP Area
5,136
Density / Sq Mi
$61,934
Median Household Income
$41,920
Median Earnings
$1,390
Median Rent
$200,800
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 - Two neighboring residences offer separate kitchens, living areas, bedrooms, baths, laundry space, porches, and basement storage.
Where is this duplex located?
The property is located at 1841-1843 EAST AVENUE Baltimore, MD.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: Two residences totaling 1,150 square feet; 1843 East Avenue: 650 square feet on a 15,330‑square‑foot homesite; 1841 East Avenue: 500 square feet on a 5,500‑square‑foot lot
