Residential Income Property with
For Sale
$509,000
230 STONY RUN LANE Unit 4A, Baltimore, MD 21210
First-floor residence with three bedrooms, two full baths, a sunroom, private outdoor areas, and deeded garage and storage spaces.
Property Size1,857 SF
Days on Market16
Property Features for 230 STONY RUN LANE Unit 4A
General Information
Standard status
Active
Size
1,857 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$7,741
Amenities
wood-burning fireplace
built-in shelving
French doors
sunroom
en-suite bathroom
formal dining room
sunlit kitchen
washer and dryer
rear deck
courtyard
lower-level storage room
deeded storage garage
Building Details
Building Size
1,857 SF
Year Built
1922
Construction
Mediterranean
Listing Agency:
Coldwell Banker Realty
Listed By:
Jay T Kramer · License #575267
(410) 984-2692
Source:
Thehulsmangroup
Added: Aug 20
Changed: Sep 3
Last Checked: Sep 4 at 11:10AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
Built in 1922, this first-floor residential income property combines a practical three-bedroom, two-bath layout with period character and comfortable gathering spaces. The interior includes a living room with a wood-burning fireplace and built-in shelving, a separate sunroom, a formal dining room, and a kitchen with substantial counter space and storage. A primary bedroom has an en-suite bath, while two additional bedrooms share the hall bathroom. The unit is accessed by a single step and includes a washer and dryer.
Outdoor features include a rear deck and a large brick courtyard oriented toward the southwest. The property also conveys one deeded garage, an additional deeded storage garage, and a lower-level storage room. Located at 230 Stony Run Lane, Unit 4A, in Baltimore, Maryland, the residence is part of The Gardens of Guilford, an enclave associated with Mediterranean and Italian Renaissance architectural design.
Outdoor features include a rear deck and a large brick courtyard oriented toward the southwest. The property also conveys one deeded garage, an additional deeded storage garage, and a lower-level storage room. Located at 230 Stony Run Lane, Unit 4A, in Baltimore, Maryland, the residence is part of The Gardens of Guilford, an enclave associated with Mediterranean and Italian Renaissance architectural design.
Key Highlights
- Three‑bedroom, two‑bath first‑floor unit built in 1922
- Living room with wood‑burning fireplace and built‑in shelving
- Rear deck plus large brick courtyard with southwest exposure
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
$24,194
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
4.75%
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%
$483,880
$483.9K
Cap Rate 7%
$345,629
$345.6K
Cap Rate 9%
$268,822
$268.8K
Market Conditions
NOI Build-Up for 1,857 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
$46.8K $25.20/SF
− Vacancy
−$2.8K −$1.51/SF
EGI
$44.0K $23.69/SF
− OpEx
−$19.8K −$10.66/SF
NOI
$24.2K $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%
$483,880
Cap Rate 7%
$345,629
Cap Rate 9%
$268,822
Alternative Uses
Best Use
Apartment 5plus
$345.6K
$302.4K – $403.2K
NOI $24,194 @ 7.0% cap · market cap 4.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$444.9K
$389.3K – $519.0K
NOI $31,142 @ 7.0% cap · market cap 6.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,155
Businesses Nearby
Explore this area
Business Placement
Demographics for 21210, MD
14,441
Population
5,416
Households
2.7
Avg Household Size
32
Median Age
83%
College-Educated
98%
High-School Grad
3.4 sq mi
ZIP Area
4,247
Density / Sq Mi
$108,929
Median Household Income
$43,474
Median Earnings
$1,498
Median Rent
$521,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - First-floor residence with three bedrooms, two full baths, a sunroom, private outdoor areas, and deeded garage and storage spaces.
Where is this residential income property located?
The property is located at 230 STONY RUN LANE Unit 4A Baltimore, MD.
What is the asking price?
The asking price for this property is $509,000.
What are key features of this property?
This property features: Three‑bedroom, two‑bath first‑floor unit built in 1922; Living room with wood‑burning fireplace and built‑in shelving; Rear deck plus large brick courtyard with southwest exposure
