Two-Story Income
For Sale
$243,750
21 HAMILL ROAD Unit F, Baltimore, MD 21210
Updated kitchen, private balconies, and community amenities complement this residential property in the Village of Cross Keys.
Property Size1,559 SF
Days on Market233
Property Features for 21 HAMILL ROAD Unit F
General Information
Standard status
Active
Size
1,559 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,027
Amenities
pool
tennis courts
clubhouse
walking paths
private balconies
Building Details
Building Size
1,559 SF
Year Built
1967
Listing Agency:
O'Conor, Mooney & Fitzgerald
Listed By:
Sandra C Nueslein
(410) 252-6564
Source:
Thehulsmangroup
Added: Jan 15
Changed: Aug 29
Last Checked: Sep 5 at 6:03AM
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 O'Conor, Mooney & Fitzgerald
Investment Insights
Based on property information with market context.
This two-story residential income property includes two bedrooms, each with a private ensuite bathroom. The updated kitchen features granite countertops and stainless steel appliances, while large closets provide storage throughout the home. Two private balconies add outdoor space for relaxing or entertaining.
Community amenities include a pool, tennis courts, clubhouse, and walking paths. The property is located in the Village of Cross Keys, with shopping, dining, and boutique services nearby. Major highways, universities, and hospitals are also accessible from the property. Built in 1967, the residence combines a multi-level layout with updated kitchen finishes and private outdoor areas.
Community amenities include a pool, tennis courts, clubhouse, and walking paths. The property is located in the Village of Cross Keys, with shopping, dining, and boutique services nearby. Major highways, universities, and hospitals are also accessible from the property. Built in 1967, the residence combines a multi-level layout with updated kitchen finishes and private outdoor areas.
Key Highlights
- Two‑bedroom layout with a private ensuite bathroom for each bedroom
- Updated kitchen with granite countertops and stainless steel appliances
- Two private balconies provide outdoor space
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
$20,311
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
8.33%
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%
$406,220
$406.2K
Cap Rate 7%
$290,157
$290.2K
Cap Rate 9%
$225,678
$225.7K
Market Conditions
NOI Build-Up for 1,559 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
$39.3K $25.20/SF
− Vacancy
−$2.4K −$1.51/SF
EGI
$36.9K $23.69/SF
− OpEx
−$16.6K −$10.66/SF
NOI
$20.3K $13.03/SF
Area
Baltimore, MD
Vacancy
6.00%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
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%
$406,220
Cap Rate 7%
$290,157
Cap Rate 9%
$225,678
Alternative Uses
Best Use
Apartment 5plus
$290.2K
$253.9K – $338.5K
NOI $20,311 @ 7.0% cap · market cap 8.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$373.5K
$326.8K – $435.8K
NOI $26,145 @ 7.0% cap · market cap 10.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
630
Businesses Nearby
Explore this area
Business Placement
Demographics for 21210, MD
14,441
Population
5,416
Households
2.7
Avg Household Size
32
Median Age
83%
College-Educated
98%
High-School Grad
3.4 sq mi
ZIP Area
4,247
Density / Sq Mi
$108,929
Median Household Income
$43,474
Median Earnings
$1,498
Median Rent
$521,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated kitchen, private balconies, and community amenities complement this residential property in the Village of Cross Keys.
Where is this residential income property located?
The property is located at 21 HAMILL ROAD Unit F Baltimore, MD.
What is the asking price?
The asking price for this property is $243,750.
What are key features of this property?
This property features: Two‑bedroom layout with a private ensuite bathroom for each bedroom; Updated kitchen with granite countertops and stainless steel appliances; Two private balconies provide outdoor space
