Renovated Three-Unit Multifamily
For Sale
$399,900
2143 DRUID HILL Avenue, Baltimore, MD 21217
MULTI_FAMILY - Federal - BALTIMORE, MD
Property Size2,535 SF
Lot Size0.08 Acres
Price / SF$157.75
Days on Market169
Property Features for 2143 DRUID HILL Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Rooms
Basement
Parking features
On Street
Appliances
Microwave, Oven/Range - Electric, Refrigerator, Stainless Steel Appliances, Washer, Dryer
Subdivision
DRUID HEIGHTS
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
2,535 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
0
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
wood laminate flooring
granite counters
stainless steel appliances
updated baths
in-unit laundry
Building Details
Year built
1920
Number of units
1
Building materials
Brick
Architectural style
Federal
Listing Agency:
Berkshire Hathaway HomeServices Homesale Realty
(410) 814-2400
Listed By:
Christopher J Cooke · License #596183
(443) 802-2728
Added: Mar 5
Changed: Aug 13
Last Checked: Aug 21 at 3:06PM
MLS# MDBA2205758
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 is a newly renovated and legally zoned three-unit multifamily property. The end-of-group building contains two 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit. The 1-bedroom unit is currently rented for $1,200 per month. The two 2-bedroom units are listed for $1,500 per month. All units feature wood laminate flooring, kitchens with granite counters and stainless steel appliances, updated baths, and in-unit laundry. The property is located in Baltimore, Maryland. The lot size is 0.0792 acres, and the property size is 2,535 square feet. This property presents a fantastic investment opportunity for a buyer looking to live in one unit and rent out the other two, or for an investor seeking a turnkey rental opportunity to add to their rental portfolio.
Key Highlights
- Legally zoned 3‑unit property, offering immediate rental income potential.
- Newly renovated units featuring wood laminate flooring, granite counters, and stainless steel appliances.
- Each unit includes in‑unit laundry for tenant convenience.
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
$33,027
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
8.26%
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%
$660,540
$660.5K
Cap Rate 7%
$471,814
$471.8K
Cap Rate 9%
$366,967
$367.0K
Market Conditions
NOI Build-Up for 2,535 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
$63.9K $25.20/SF
− Vacancy
−$3.8K −$1.51/SF
EGI
$60.0K $23.69/SF
− OpEx
−$27.0K −$10.66/SF
NOI
$33.0K $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%
$660,540
Cap Rate 7%
$471,814
Cap Rate 9%
$366,967
Alternative Uses
Best Use
Multifamily LT 5
$531.8K
$465.3K – $620.5K
NOI $37,227 @ 7.0% cap · market cap 9.31%
Second Best
Apartment 5plus
$471.8K
$412.8K – $550.5K
NOI $33,027 @ 7.0% cap · market cap 8.26%
Theoretical Best
Office A
$607.3K
$531.4K – $708.5K
NOI $42,512 @ 7.0% cap · market cap 10.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,442
Businesses Nearby
Explore this area
Business Placement
Demographics for 21217, MD
30,448
Population
20,064
Households
1.5
Avg Household Size
38
Median Age
22%
College-Educated
83%
High-School Grad
2.1 sq mi
ZIP Area
14,499
Density / Sq Mi
$37,207
Median Household Income
$40,668
Median Earnings
$1,065
Median Rent
$175,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Legally zoned, renovated three-unit property in Baltimore, Maryland.
Where is this triplex located?
The property is located at 2143 DRUID HILL Avenue Baltimore, MD.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Legally zoned 3‑unit property, offering immediate rental income potential.; Newly renovated units featuring wood laminate flooring, granite counters, and stainless steel appliances.; Each unit includes in‑unit laundry for tenant convenience.
