Waterfront Residential Income
For Sale
$225,000
23 PIERSIDE DRIVE Unit 436, Baltimore, MD 21230
Two en-suite rooms are arranged in a split layout, with a private balcony overlooking the harbor.
Property Size1,085 SF
Price / SF$207.37
Days on Market86
Property Features for 23 PIERSIDE DRIVE Unit 436
General Information
Standard status
Active
Size
1,085 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Key Highway
Additional Details
Asking Price
$339,900
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$6,658
Amenities
24-hour concierge service
outdoor pool
fitness center
private balcony
Building Details
Building Size
1,085 SF
Year Built
2002
Listing Agency:
Samson Properties
Listed By:
Vincent F DeLorenzo · License #627608
(443) 345-0033
Source:
Ghimirehomes
Added: Aug 5
Changed: Oct 27
Last Checked: Oct 26 at 2:10PM
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 Samson Properties
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Investment Insights
Based on property information with market context.
This 1,205-square-foot waterfront residence was built in 2005 and has a split layout with two en-suite rooms, living and dining areas, and a private balcony. Windows and extra-high ceilings bring daylight inside, with harbor and city skyline views from the unit. Renovations include the kitchen and baths, along with updates to flooring, lighting, appliances, HVAC, hot water heater, windows, sliding glass doors, and blinds.
The unit conveys with oversized deeded parking space P0-182. Furnishings may also be included, subject to a few exclusions. Building amenities include 24-hour concierge service, outdoor pool access, and fitness centers. The property is at 23 Pierside Drive in Baltimore, close to restaurants, marinas, Harbor East, and walkable access to Orioles and Ravens games.
The unit conveys with oversized deeded parking space P0-182. Furnishings may also be included, subject to a few exclusions. Building amenities include 24-hour concierge service, outdoor pool access, and fitness centers. The property is at 23 Pierside Drive in Baltimore, close to restaurants, marinas, Harbor East, and walkable access to Orioles and Ravens games.
Key Highlights
- 1,205‑square‑foot waterfront residence with harbor and city skyline views
- Split layout with two en‑suite rooms
- Private balcony and extra‑high ceilings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,136
Cap Rate
6.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$282,720
$282.7K
Cap Rate 7%
$201,943
$201.9K
Cap Rate 9%
$157,067
$157.1K
Market Conditions
NOI Build-Up for 1,085 SF
Gross rent
$27.3K $25.20/SF
− Vacancy
−$1.6K −$1.51/SF
EGI
$25.7K $23.69/SF
− OpEx
−$11.6K −$10.66/SF
NOI
$14.1K $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%
$282,720
Cap Rate 7%
$201,943
Cap Rate 9%
$157,067
Alternative Uses
Best Use
Apartment 5plus
$201.9K
$176.7K – $235.6K
NOI $14,136 @ 7.0% cap · market cap 6.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$259.9K
$227.5K – $303.3K
NOI $18,196 @ 7.0% cap · market cap 8.09%
Zoning and permitted uses should be independently verified with authorities.
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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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Frequently Asked Questions
What type of property is this?
Residential income property - Two en-suite rooms are arranged in a split layout, with a private balcony overlooking the harbor.
Where is this residential income property located?
The property is located at 23 PIERSIDE DRIVE Unit 436 Baltimore, MD.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 1,205‑square‑foot waterfront residence with harbor and city skyline views; Split layout with two en‑suite rooms; Private balcony and extra‑high ceilings
