Traditional Residential Income
For Sale
$495,000
2202 BROOKFIELD AVENUE, Baltimore, MD 21217
Built in 1911 with electric heating, an electric water heater, and alley access.
Property Size3,060 SF
Price / SF$161.76
Days on Market45
Property Features for 2202 BROOKFIELD AVENUE
General Information
Standard status
Active
Size
3,060 SF
Property subtype
Residential Income
Zoning
R-7
Taxes and HOA fees
Annual Taxes
$6,195
Amenities
Sidewalks, Street Lights
Other, Electric
Electric, Heat Pump
Electric Water Heater
Off Street, On Street, Alley Access
Lighting
Traditional
Building Details
Building Size
3,060 SF
Year Built
1911
Listing Agency:
Keller Williams Capital Prop.
(202) 262-7968
Listed By:
Mark V Ellington · License #525313
(202) 262-7968
Source:
Evrealestate
Added: Jul 8
Changed: Aug 16
Last Checked: Aug 21 at 6:25AM
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 Keller Williams Capital Prop.
Investment Insights
Based on property information with market context.
This traditional residential income property was constructed in 1911. The available building details include electric service, heat-pump heating, and an electric water heater. Exterior access includes off-street parking, on-street parking, and alley access, along with exterior lighting.
Located at 2202 Brookfield Avenue in Baltimore, Maryland, the property is zoned R-7 and situated in Baltimore City.
Located at 2202 Brookfield Avenue in Baltimore, Maryland, the property is zoned R-7 and situated in Baltimore City.
Key Highlights
- Residential income property with R‑7 zoning
- Constructed in 1911
- Heat‑pump heating with electric service
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
$39,867
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
8.05%
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%
$797,340
$797.3K
Cap Rate 7%
$569,529
$569.5K
Cap Rate 9%
$442,967
$443.0K
Market Conditions
NOI Build-Up for 3,060 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
$77.1K $25.20/SF
− Vacancy
−$4.6K −$1.51/SF
EGI
$72.5K $23.69/SF
− OpEx
−$32.6K −$10.66/SF
NOI
$39.9K $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%
$797,340
Cap Rate 7%
$569,529
Cap Rate 9%
$442,967
Alternative Uses
Best Use
Apartment 5plus
$569.5K
$498.3K – $664.5K
NOI $39,867 @ 7.0% cap · market cap 8.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$733.1K
$641.5K – $855.3K
NOI $51,316 @ 7.0% cap · market cap 10.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,241
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Built in 1911 with electric heating, an electric water heater, and alley access.
Where is this residential income property located?
The property is located at 2202 BROOKFIELD AVENUE Baltimore, MD.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Residential income property with R‑7 zoning; Constructed in 1911; Heat‑pump heating with electric service
