One-Bedroom Residential Income
For Sale
$259,900
2007 CLIPPER PARK ROAD Unit 314, Baltimore, MD 21211
Condominium features hardwood flooring, stainless steel appliances, shared outdoor amenities, and secure underground parking.
Property Size966 SF
Days on Market62
Property Features for 2007 CLIPPER PARK ROAD Unit 314
General Information
Standard status
Active
Size
966 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,713
Amenities
lounge
outdoor space with seating and grills
pool with a hot tub and waterfall
Building Details
Building Size
966 SF
Year Built
2006
Listing Agency:
Berkshire Hathaway HomeServices Homesale Realty
Listed By:
Ibby P Fazzini · License #515437
(410) 375-6418
Source:
Thehulsmangroup
Added: Jul 6
Changed: Aug 31
Last Checked: Sep 4 at 12:36PM
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.
This 1-bedroom, 1-bath condominium is located in the Millrace Building and offers an open interior with 9-foot ceilings, oversized windows, hardwood floors, and a generously sized primary bedroom. The kitchen includes stainless steel appliances, substantial cabinetry, and ample counter space. A new HVAC system was installed in 2020.
Ownership includes deeded assigned parking space P-28 in the secure underground garage. Community amenities include a resident lounge, outdoor seating with grills, and a pool with hot tub and waterfall. The property is near the Light Rail, I-83, downtown Baltimore, The Avenue in Hampden, and a selection of restaurants, cafes, breweries, and boutique shopping within walking distance.
Ownership includes deeded assigned parking space P-28 in the secure underground garage. Community amenities include a resident lounge, outdoor seating with grills, and a pool with hot tub and waterfall. The property is near the Light Rail, I-83, downtown Baltimore, The Avenue in Hampden, and a selection of restaurants, cafes, breweries, and boutique shopping within walking distance.
Key Highlights
- 1‑bedroom, 1‑bath condominium in the Millrace Building
- 9‑foot ceilings, oversized windows, and hardwood floors
- Kitchen with stainless steel appliances and ample cabinetry
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
$12,585
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
4.84%
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%
$251,700
$251.7K
Cap Rate 7%
$179,786
$179.8K
Cap Rate 9%
$139,833
$139.8K
Market Conditions
NOI Build-Up for 966 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
$24.3K $25.20/SF
− Vacancy
−$1.5K −$1.51/SF
EGI
$22.9K $23.69/SF
− OpEx
−$10.3K −$10.66/SF
NOI
$12.6K $13.03/SF
Area
Baltimore, MD
Vacancy
6.00%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
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%
$251,700
Cap Rate 7%
$179,786
Cap Rate 9%
$139,833
Alternative Uses
Best Use
Apartment 5plus
$179.8K
$157.3K – $209.8K
NOI $12,585 @ 7.0% cap · market cap 4.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$231.4K
$202.5K – $270.0K
NOI $16,200 @ 7.0% cap · market cap 6.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,085
Businesses Nearby
Explore this area
Business Placement
Demographics for 21211, MD
17,721
Population
9,056
Households
2
Avg Household Size
37
Median Age
61%
College-Educated
93%
High-School Grad
2.9 sq mi
ZIP Area
6,111
Density / Sq Mi
$81,467
Median Household Income
$64,019
Median Earnings
$1,577
Median Rent
$274,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium features hardwood flooring, stainless steel appliances, shared outdoor amenities, and secure underground parking.
Where is this residential income property located?
The property is located at 2007 CLIPPER PARK ROAD Unit 314 Baltimore, MD.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: 1‑bedroom, 1‑bath condominium in the Millrace Building; 9‑foot ceilings, oversized windows, and hardwood floors; Kitchen with stainless steel appliances and ample cabinetry
