Historic Townhouse with Income
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
(410) 886-7342
6227 N Charles Street, WASHINGTON, MD
Listed by
Jessica Dailey · License #600667
(443) 838-8204
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
NOI $50,664 @ 7.0% cap · market cap 9.21%
Second Best
Apartment 5plus
$642.1K
$561.9K – $749.1K
NOI $44,948 @ 7.0% cap · market cap 8.17%
Theoretical Best
Office A
$826.5K
$723.2K – $964.3K
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
Similar For Sale Nearby
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.