Updated Duplex with Historic
New
For Sale
$420,000
2050 Bank St, Baltimore, MD 21231
Two-level rental configuration supports both short-term and conventional tenancy near Baltimore’s Inner Harbor.
Property Size2,128 SF
Price / SF$197.37
Days on Market4
Property Features for 2050 Bank St
General Information
Standard status
Active
Size
2,128 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x studio, 1 x 3BR
Multifamily Units
2
Building Details
Year Built
1900
Listing Agency:
Coldwell Banker Realty
Listed By:
Jennifer Habte · License #664017
(443) 996-9026
Source:
Theatwoodteam
Added: Sep 20
Last Checked: Sep 22 at 7:20PM
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 2,128-square-foot duplex, built in 1900, combines preserved architectural character with updated features suited to both short-term and long-term occupancy. The property includes a three-floor, three-bedroom front residence and a main-floor studio unit at the rear. One unit is occupied, while the larger residence is vacant and available for leasing or owner use.
The property is located in Baltimore’s Fells Point area, four city blocks from the Inner Harbor waterfront promenade and south of Johns Hopkins Hospital. Restaurants, entertainment venues, and waterfront amenities are accessible from the property. Its two-unit layout and established rental configuration provide a flexible residential income property in an urban setting.
The property is located in Baltimore’s Fells Point area, four city blocks from the Inner Harbor waterfront promenade and south of Johns Hopkins Hospital. Restaurants, entertainment venues, and waterfront amenities are accessible from the property. Its two-unit layout and established rental configuration provide a flexible residential income property in an urban setting.
Key Highlights
- 2,128‑square‑foot duplex built in 1900
- Three‑floor front residence with 3 bedrooms
- Main‑floor rear studio unit
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
$31,250
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
7.44%
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%
$625,000
$625.0K
Cap Rate 7%
$446,429
$446.4K
Cap Rate 9%
$347,222
$347.2K
Market Conditions
NOI Build-Up for 2,128 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
$47.2K $22.20/SF
− Vacancy
−$2.6K −$1.22/SF
EGI
$44.6K $20.98/SF
− OpEx
−$13.4K −$6.29/SF
NOI
$31.3K $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%
$625,000
Cap Rate 7%
$446,429
Cap Rate 9%
$347,222
Alternative Uses
Best Use
Multifamily LT 5
$446.4K
$390.6K – $520.8K
NOI $31,250 @ 7.0% cap · market cap 7.44%
Second Best
Apartment 5plus
$396.1K
$346.6K – $462.1K
NOI $27,724 @ 7.0% cap · market cap 6.60%
Theoretical Best
Office A
$509.8K
$446.1K – $594.8K
NOI $35,687 @ 7.0% cap · market cap 8.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-level rental configuration supports both short-term and conventional tenancy near Baltimore’s Inner Harbor.
Where is this duplex located?
The property is located at 2050 Bank St Baltimore, MD.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: 2,128‑square‑foot duplex built in 1900; Three‑floor front residence with 3 bedrooms; Main‑floor rear studio unit
