Residential Condominium with Community
23 PIERSIDE DRIVE Unit 413, Baltimore, MD 21230
For Sale
$125,000
Residents have community access to a pool, fitness center, marina, and DiPasquale’s.
Property Size700 SF
Price / SF$178.57
Days on Market270
Property Features for 23 PIERSIDE DRIVE Unit 413
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
Harborview Marina
pool
gym
security controlled
key fob entry
monitored garage parking
Building Details
Building Size
Year Built
Listing Agency:
Next Step Realty
Listed By:
Alexandra Ray Vincent · License MD #679928
(410) 999-4417
Source:
Genedru
Added: Feb 15
Changed: Nov 10
Last Checked: Nov 10 at 8:23AM
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 Next Step Realty
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Investment Insights
Based on property information with market context.
This residential condominium is part of the Pierside community in downtown Baltimore. The property was built in 1992, and community amenities include an outdoor pool, a fitness center, and access to Harborview Marina and DiPasquale’s.
Building access is controlled by key fob, and garage parking is monitored. Parking passes for multiple vehicles are available for an additional monthly fee.
Building access is controlled by key fob, and garage parking is monitored. Parking passes for multiple vehicles are available for an additional monthly fee.
Key Highlights
- Pierside community in downtown Baltimore
- Built in 1992
- Community amenities include an outdoor pool and a fully stocked fitness center
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,120
Cap Rate
7.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$182,400
$182.4K
Cap Rate 7%
$130,286
$130.3K
Cap Rate 9%
$101,333
$101.3K
Market Conditions
NOI Build-Up for 700 SF
Gross rent
$17.6K $25.20/SF
− Vacancy
−$1.1K −$1.51/SF
EGI
$16.6K $23.69/SF
− OpEx
−$7.5K −$10.66/SF
NOI
$9.1K $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%
$182,400
Cap Rate 7%
$130,286
Cap Rate 9%
$101,333
Alternative Uses
Best Use
Apartment 5plus
$130.3K
$114.0K – $152.0K
NOI $9,120 @ 7.0% cap · market cap 7.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$167.7K
$146.7K – $195.7K
NOI $11,739 @ 7.0% cap · market cap 9.39%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,463
Businesses Nearby
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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
$327,700
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in Baltimore, MD
Properties on Market for Residential income properties in Baltimore
Frequently Asked Questions
What type of property is this?
Residential income property - Residents have community access to a pool, fitness center, marina, and DiPasquale’s.
Where is this residential income property located?
The property is located at 23 PIERSIDE DRIVE Unit 413 Baltimore, MD.
What is the asking price?
The asking price for this property is $125,000.
What are key features of this property?
This property features: Pierside community in downtown Baltimore; Built in 1992; Community amenities include an outdoor pool and a fully stocked fitness center
