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Historic Townhouse with Income Potential

2024 PARK Avenue Baltimore, MD 21217

2024 PARK Avenue, Baltimore, MD, 21217
$550,000
For Sale
Under Contract
$550,000

MULTI_FAMILY - French - BALTIMORE, MD

Property Size3,450 SF
Price / SF$159.42
Days on Market51

Property Features for 2024 PARK Avenue

General Information

Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
On Street
Standard status
Active Under Contract
Size
3,450 SF

Taxes and HOA fees

Tax Annual Amount
8472

Utilities

Heating system
Forced Air
Cooling system
Central Air

Building Details

Year built
1880
Number of units
2
Building materials
Brick
Architectural style
French
Listing Agency Compass
6227 N Charles Street, WASHINGTON, MD
Listed by Jessica Dailey · License #600667
Added: May 28 Checked: Jul 17 at 8:06 pm
MLS# MDBA2210642 Listing URL

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.

Located in the Mount Royal Terrace section of historic Reservoir Hill, this two-unit townhouse is set along an architecturally distinctive block. The property features brownstone arches, intricate decorative brickwork, and a detailed historic facade. The expansive owner's residence spans the second and third floors, featuring three bedrooms, two full baths, in-unit laundry, exposed brick, soaring ceilings, a central skylight, renovated kitchen, and spa-inspired baths. The vacant first-floor apartment offers one bedroom, one full bath, in-unit laundry, and direct access to the rear parking pad. This creates flexibility for supplemental rental income, multi-generational living, a private guest suite, au pair quarters, a creative studio, or a dedicated work-from-home space. The location provides connectivity, green space, and neighborhood culture. Penn Station is minutes away with MARC service to Washington, D.C., and Amtrak access to Philadelphia and New York. I 83, the Light Rail, and dedicated bike lanes provide accessibility throughout the city and region. Nearby institutions include MICA, the University of Baltimore, Johns Hopkins University, and Station North's arts district. Druid Hill Park's 745 acres offer walking and biking trails, basketball and tennis courts, disc golf, playgrounds, the Rawlings Conservatory, and the Maryland Zoo. The Whitelock Community Farm provides green space, a small amphitheater, and a sense of community connection. Residents also enjoy proximity to Beth Am Synagogue, Mt. Royal Elementary and Middle School, neighborhood cafes and restaurants, Bolton Hill, Mount Vernon cultural institutions, and the anticipated Streets Market expected nearby in 2027. The property is 3450 square feet.

Key Highlights

  • Prime location in the historic Reservoir Hill neighborhood, reminiscent of a London square.
  • Two‑unit townhouse: live in the renovated 3‑bedroom owner's residence and rent out the 1‑bedroom apartment for income.
  • Architecturally distinctive with brownstone arches, intricate brickwork, and a richly detailed historic facade.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up
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.

Component $ $/SF
Gross rent $86.9k $25.20
− Vacancy −$5.2k −$1.51
EGI $81.7k $23.69
− OpEx −$36.8k −$10.66
NOI $44.9k $13.03
3,450 SF · lease $25.20/SF/yr · vacancy 6.00% · expense 45.00%

Alternative Uses

Best Use
Multifamily LT 5
$723.8K
$633.3K – $844.4K (±1% cap)
NOI $50,664 @ 7.0% cap · market cap 9.21%
Second Best
Apartment 5plus
$642.1K
$561.9K – $749.1K (±1% cap)
NOI $44,948 @ 7.0% cap · market cap 8.17%
Theoretical Best
Office A
$826.5K
$723.2K – $964.3K (±1% cap)
NOI $57,857 @ 7.0% cap · market cap 10.52%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Duplexes

Suggested Use

Electrical Service (Bike/Boat/Book/etc) Store (Bike/Boat/Book/etc) Store Home Appliance Store Veterinary Clinic Kitchen & Bath Showroom Carpet & Flooring Store Plumbing Service Tech Support Center Clothing & Fashion Store

Zoning and permitted uses should be independently verified with local authorities.

FAQs

What type of property is this?
Duplex - Two-unit townhouse in historic Reservoir Hill neighborhood.
Where is this duplex located?
The property is located at 2024 PARK Avenue Baltimore, MD.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Prime location in the historic Reservoir Hill neighborhood, reminiscent of a London square.; Two‑unit townhouse: live in the renovated 3‑bedroom owner's residence and rent out the 1‑bedroom apartment for income.; Architecturally distinctive with brownstone arches, intricate brickwork, and a richly detailed historic facade.
Contact an agent
More about this property
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