Updated Duplex with
New
For Sale
$420,000
2050 BANK Street, Baltimore, MD 21231
Multi-Family, BALTIMORE, MD
Property Size2,128 SF
Lot Size0.02 Acres
Price / SF$197.37
Days on Market6
Property Features for 2050 BANK Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking features
On Street
Interior features
Bathroom - Stall Shower, Bathroom - Tub Shower, Floor Plan - Traditional, Kitchen - Eat-In, Kitchen - Island, Kitchen - Table Space
Appliances
Built-In Microwave, Dishwasher, Disposal, Dryer - Electric, Microwave, Refrigerator, Washer, Washer/Dryer Stacked
Subdivision
UPPER FELLS POINT
Elementary school district
BALTIMORE CITY PUBLIC SCHOOLS
Middle school district
BALTIMORE CITY PUBLIC SCHOOLS
High school district
BALTIMORE CITY PUBLIC SCHOOLS
Standard status
Active
Size
2,128 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
6504
Utilities
Heating system
Forced Air
Cooling system
Multi Units, Central Air
Building Details
Year built
1900
Number of units
2
Building materials
Brick Front
Architectural style
Other
Listing Agency:
Coldwell Banker Realty · Coldwell Banker Real Estate
(410) 327-2200
Listed By:
Jennifer Habte · License #664017
(443) 996-9026
Added: Sep 18
Changed: Sep 19
Last Checked: Sep 23 at 5:06AM
MLS# MDBA2231620
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.
This 2,128-square-foot duplex, built in 1900, includes a main-floor studio at the rear and a three-floor, three-bedroom residence at the front. The property has been updated for both short-term and long-term occupancy while retaining original character alongside modern amenities. Interior features include traditional floor plans, eat-in kitchens, kitchen islands, stall and tub showers, and basement space. Appliances include dishwashers, refrigerators, microwaves, disposals, washers, and dryers. Heating is provided by forced air, with central air and multiple cooling units.
Located in Baltimore’s Fells Point area, the property is four city blocks from the Inner Harbor waterfront promenade and positioned south of Johns Hopkins Hospital. Restaurants and entertainment venues are nearby, and parking is available on the street. The back studio is currently occupied, while the front residence is vacant.
Located in Baltimore’s Fells Point area, the property is four city blocks from the Inner Harbor waterfront promenade and positioned south of Johns Hopkins Hospital. Restaurants and entertainment venues are nearby, and parking is available on the street. The back studio is currently occupied, while the front residence is vacant.
Key Highlights
- 2,128‑square‑foot duplex on a 0.02‑acre lot
- Rear main‑floor studio plus front three‑floor, three‑bedroom residence
- Updated for short‑term and long‑term occupancy
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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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
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
Check the figures for this property
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-unit layout combines a main-level studio with a three-floor, three-bedroom 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 $420,000.
What are key features of this property?
This property features: 2,128‑square‑foot duplex on a 0.02‑acre lot; Rear main‑floor studio plus front three‑floor, three‑bedroom residence; Updated for short‑term and long‑term occupancy
