One-Bedroom Residential Income
For Sale
$140,000
23 PIERSIDE DRIVE Unit 232, Baltimore, MD 21230
The unit includes an enclosed sunroom, in-unit laundry, and access to building amenities.
Property Size776 SF
Price / SF$180.41
Days on Market218
Property Features for 23 PIERSIDE DRIVE Unit 232
General Information
Standard status
Active
Size
776 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Key Highway
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,516
Amenities
24-hour concierge
picturesque courtyard
gorgeous pool with grills
fitness center
Building Details
Building Size
776 SF
Year Built
2011
Listing Agency:
Berkshire Hathaway HomeServices Homesale Realty
Listed By:
Andrew Undem · License #646143
(410) 322-3670
Source:
Ghimirehomes
Added: Mar 26
Changed: Oct 27
Last Checked: Oct 26 at 3:15PM
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 Berkshire Hathaway HomeServices Homesale Realty
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Investment Insights
Based on property information with market context.
This one-bedroom, one-bath condominium has 776 square feet and was built in 2011. The layout includes a living and dining area, a windowed sunroom that can serve as an office, and a kitchen with granite counters and a breakfast bar. Wood flooring extends through the living area and bedroom, while the bathroom has ceramic tile. A stackable washer and dryer are located within the unit.
Building amenities include a 24-hour concierge, courtyard, pool with grills, fitness center, and secure parking. The complex is pet-friendly, and the property offers access to I-95 and I-83.
Building amenities include a 24-hour concierge, courtyard, pool with grills, fitness center, and secure parking. The complex is pet-friendly, and the property offers access to I-95 and I-83.
Key Highlights
- 776‑square‑foot, one‑bedroom, one‑bath condominium
- Windowed sunroom with office potential
- Kitchen with granite counters and breakfast bar
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,110
Cap Rate
7.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$202,200
$202.2K
Cap Rate 7%
$144,429
$144.4K
Cap Rate 9%
$112,333
$112.3K
Market Conditions
NOI Build-Up for 776 SF
Gross rent
$19.6K $25.20/SF
− Vacancy
−$1.2K −$1.51/SF
EGI
$18.4K $23.69/SF
− OpEx
−$8.3K −$10.66/SF
NOI
$10.1K $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 Rate 5%
$202,200
Cap Rate 7%
$144,429
Cap Rate 9%
$112,333
Alternative Uses
Best Use
Apartment 5plus
$144.4K
$126.4K – $168.5K
NOI $10,110 @ 7.0% cap · market cap 7.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$185.9K
$162.7K – $216.9K
NOI $13,014 @ 7.0% cap · market cap 9.30%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,463
Businesses Nearby
Explore this area
Business Placement
Demographics for 21230, MD
36,660
Population
18,070
Households
2
Avg Household Size
33
Median Age
59%
College-Educated
88%
High-School Grad
6.3 sq mi
ZIP Area
5,819
Density / Sq Mi
$94,164
Median Household Income
$69,973
Median Earnings
$1,771
Median Rent
$327,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The unit includes an enclosed sunroom, in-unit laundry, and access to building amenities.
Where is this residential income property located?
The property is located at 23 PIERSIDE DRIVE Unit 232 Baltimore, MD.
What is the asking price?
The asking price for this property is $140,000.
What are key features of this property?
This property features: 776‑square‑foot, one‑bedroom, one‑bath condominium; Windowed sunroom with office potential; Kitchen with granite counters and breakfast bar
