Historic Duplex with Original
For Sale
$465,000
Pending
2050 Bank Street, Baltimore, MD 21231
Two occupied apartments include a studio and a larger multi-level residence.
Property Size1,751 SF
Days on Market173
Property Features for 2050 Bank Street
General Information
Standard status
Pending
Size
1,751 SF
Property subtype
Multi-Family / Ground Rent
Zoning
R-8
Occupancy
100%
Units
Unit Mix
1 x studio, 1 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,504
Amenities
No
2nd Kitchen, Breakfast Area, Combination Dining/Living, Floor Plan - Open
No Pool
Street Lights, Sidewalks
Patio(s), Breezeway
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Coldwell Banker Realty
(443) 996-9026
Listed By:
Jennifer Habte · License #664017
(443) 996-9026
Source:
Compass
Added: Mar 13
Changed: Aug 30
Last Checked: Aug 30 at 7:07PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This R-8 duplex contains 1,751 square feet and dates to 1900. The property retains original architectural details while incorporating updates intended for contemporary residential use. Its two-apartment layout includes a first-floor rear studio and a three-level residence with three bedrooms and two bathrooms. Interior features include a second kitchen, breakfast area, combined dining and living space, and an open floor plan.
Both apartments are currently occupied. The property has also been used as an Airbnb, supporting both short-term and long-term residential applications. Located at 2050 Bank Street in Baltimore’s historic Fells Point area, the property is near the neighborhood’s restaurants and entertainment destinations. Sidewalks, street lighting, a patio, and a breezeway are among the exterior features.
Both apartments are currently occupied. The property has also been used as an Airbnb, supporting both short-term and long-term residential applications. Located at 2050 Bank Street in Baltimore’s historic Fells Point area, the property is near the neighborhood’s restaurants and entertainment destinations. Sidewalks, street lighting, a patio, and a breezeway are among the exterior features.
Key Highlights
- Duplex with 1,751 square feet, built in 1900
- R‑8 zoning in Baltimore City
- First‑floor rear studio apartment
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
$25,714
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
5.53%
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%
$514,280
$514.3K
Cap Rate 7%
$367,343
$367.3K
Cap Rate 9%
$285,711
$285.7K
Market Conditions
NOI Build-Up for 1,751 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
$38.9K $22.20/SF
− Vacancy
−$2.1K −$1.22/SF
EGI
$36.7K $20.98/SF
− OpEx
−$11.0K −$6.29/SF
NOI
$25.7K $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%
$514,280
Cap Rate 7%
$367,343
Cap Rate 9%
$285,711
Alternative Uses
Best Use
Multifamily LT 5
$367.3K
$321.4K – $428.6K
NOI $25,714 @ 7.0% cap · market cap 5.53%
Second Best
Apartment 5plus
$325.9K
$285.2K – $380.2K
NOI $22,813 @ 7.0% cap · market cap 4.91%
Theoretical Best
Office A
$419.5K
$367.1K – $489.4K
NOI $29,364 @ 7.0% cap · market cap 6.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,842
Businesses Nearby
Explore this area
Business Placement
Demographics for 21231, MD
17,062
Population
9,342
Households
1.8
Avg Household Size
33
Median Age
66%
College-Educated
95%
High-School Grad
0.9 sq mi
ZIP Area
18,958
Density / Sq Mi
$85,382
Median Household Income
$67,289
Median Earnings
$1,710
Median Rent
$336,500
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 occupied apartments include a studio and a larger multi-level residence.
Where is this duplex located?
The property is located at 2050 Bank Street Baltimore, MD.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Duplex with 1,751 square feet, built in 1900; R‑8 zoning in Baltimore City; First‑floor rear studio apartment
