Residential Income Property with Pool
For Sale
$198,000
23 PIERSIDE DRIVE Unit 407, Baltimore, MD 21230
Top-floor condominium with updated interior finishes and access to shared fitness facilities and an outdoor pool.
Property Size745 SF
Price / SF$265.77
Days on Market35
Property Features for 23 PIERSIDE DRIVE Unit 407
General Information
Standard status
Active
Size
745 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Key Highway
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,571
Amenities
24-hour concierge service
fitness facilities
outdoor swimming pool
Building Details
Building Size
745 SF
Year Built
2005
Listing Agency:
S & S Realty & Investment, LLC
Listed By:
Junghyun Kai Kim · License #5001234
(703) 678-1121
Source:
Ghimirehomes
Added: Sep 25
Changed: Oct 27
Last Checked: Oct 26 at 4:18PM
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 S & S Realty & Investment, LLC
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Investment Insights
Based on property information with market context.
This 745-square-foot condominium occupies the top level of a residential community. Built in 2005, the unit has new countertops, fresh interior paint, and ceiling fans. Shared amenities include a 24-hour concierge, fitness facilities, an outdoor swimming pool, and maintained grounds.
The property is in Baltimore’s HarborView community near a marina and waterfront promenade. Dining, entertainment, and downtown Baltimore are also accessible from the community.
The property is in Baltimore’s HarborView community near a marina and waterfront promenade. Dining, entertainment, and downtown Baltimore are also accessible from the community.
Key Highlights
- 745‑square‑foot top‑level condominium
- Interior updates include new countertops, fresh paint, and ceiling fans
- Community amenities include 24‑hour concierge service, fitness facilities, and an outdoor swimming pool
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,706
Cap Rate
4.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$194,120
$194.1K
Cap Rate 7%
$138,657
$138.7K
Cap Rate 9%
$107,844
$107.8K
Market Conditions
NOI Build-Up for 745 SF
Gross rent
$18.8K $25.20/SF
− Vacancy
−$1.1K −$1.51/SF
EGI
$17.6K $23.69/SF
− OpEx
−$7.9K −$10.66/SF
NOI
$9.7K $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%
$194,120
Cap Rate 7%
$138,657
Cap Rate 9%
$107,844
Alternative Uses
Best Use
Apartment 5plus
$138.7K
$121.3K – $161.8K
NOI $9,706 @ 7.0% cap · market cap 4.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$178.5K
$156.2K – $208.2K
NOI $12,494 @ 7.0% cap · market cap 6.31%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
1
Residential units
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 - Top-floor condominium with updated interior finishes and access to shared fitness facilities and an outdoor pool.
Where is this residential income property located?
The property is located at 23 PIERSIDE DRIVE Unit 407 Baltimore, MD.
What is the asking price?
The asking price for this property is $198,000.
What are key features of this property?
This property features: 745‑square‑foot top‑level condominium; Interior updates include new countertops, fresh paint, and ceiling fans; Community amenities include 24‑hour concierge service, fitness facilities, and an outdoor swimming pool
