Triplex Residential
New
For Sale
$425,000
2402 LAKEVIEW AVENUE, Baltimore, MD 21217
Three-unit residential property on a compact, manageable lot.
Property Size2,880 SF
Lot Size0.05 Acres
Price / SF$147.57
Days on Market4
Property Features for 2402 LAKEVIEW AVENUE
General Information
Standard status
Active
Size
2,880 SF
Lot size
0.05 Acres
Property subtype
Triplex
Building Details
Year Built
1908
Listing Agency:
Fairfax Realty Premier
(240) 305-3705
Listed By:
Kobi I Enwemnwa · License #SP98366462
(240) 305-3705
Source:
Cummingsrealtors
Added: Aug 29
Changed: Aug 31
Last Checked: Aug 31 at 2:45PM
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 Fairfax Realty Premier
Investment Insights
Based on property information with market context.
This triplex offers 2,880 square feet of finished area on a 0.05-acre lot. Built in 1908, the property features classic architectural character and sturdy construction. The compact grounds do not include a pool or extensive outdoor amenities, keeping the exterior layout relatively simple to maintain.
Located at 2402 Lakeview Avenue in Baltimore, Maryland, the property is positioned as a residential income asset with three units. Its established construction and existing finished area provide a defined starting point for ownership or future improvements.
Located at 2402 Lakeview Avenue in Baltimore, Maryland, the property is positioned as a residential income asset with three units. Its established construction and existing finished area provide a defined starting point for ownership or future improvements.
Key Highlights
- Triplex configuration with three residential units
- 2,880 square feet of total finished area
- Compact 0.05‑acre lot
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
$37,522
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
8.83%
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%
$750,440
$750.4K
Cap Rate 7%
$536,029
$536.0K
Cap Rate 9%
$416,911
$416.9K
Market Conditions
NOI Build-Up for 2,880 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
$72.6K $25.20/SF
− Vacancy
−$4.4K −$1.51/SF
EGI
$68.2K $23.69/SF
− OpEx
−$30.7K −$10.66/SF
NOI
$37.5K $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%
$750,440
Cap Rate 7%
$536,029
Cap Rate 9%
$416,911
Alternative Uses
Best Use
Multifamily LT 5
$604.2K
$528.7K – $704.9K
NOI $42,294 @ 7.0% cap · market cap 9.95%
Second Best
Apartment 5plus
$536.0K
$469.0K – $625.4K
NOI $37,522 @ 7.0% cap · market cap 8.83%
Theoretical Best
Office A
$690.0K
$603.7K – $805.0K
NOI $48,298 @ 7.0% cap · market cap 11.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,159
Businesses Nearby
Explore this area
Business Placement
Demographics for 21217, MD
30,448
Population
20,064
Households
1.5
Avg Household Size
38
Median Age
22%
College-Educated
83%
High-School Grad
2.1 sq mi
ZIP Area
14,499
Density / Sq Mi
$37,207
Median Household Income
$40,668
Median Earnings
$1,065
Median Rent
$175,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential property on a compact, manageable lot.
Where is this triplex located?
The property is located at 2402 LAKEVIEW AVENUE Baltimore, MD.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Triplex configuration with three residential units; 2,880 square feet of total finished area; Compact 0.05‑acre lot
