Brick Triplex with
New
For Sale
$425,000
2402 LAKEVIEW Avenue, Baltimore, MD 21217
Multi-Family, BALTIMORE, MD
Property Size2,880 SF
Lot Size0.05 Acres
Price / SF$147.57
Days on Market2
Property Features for 2402 LAKEVIEW Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Rooms
Basement
Elementary school district
BALTIMORE CITY PUBLIC SCHOOLS
Middle school district
BALTIMORE CITY PUBLIC SCHOOLS
High school district
BALTIMORE CITY PUBLIC SCHOOLS
Standard status
Active
Size
2,880 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
3658
Utilities
Heating system
Other (Heating)
Cooling system
Central Air
Building Details
Year built
1908
Number of units
3
Building materials
Brick
Listing Agency:
Fairfax Realty Premier
(301) 439-9500
Listed By:
Kobi I Enwemnwa · License #619810
(240) 305-3705
Added: Sep 3
Last Checked: Sep 4 at 1:06AM
MLS# MDBA2229624
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This Baltimore triplex at 2402 Lakeview Avenue contains 2,880 square feet of finished area on a 0.0518-acre lot. The 1908 building is constructed of brick and includes basement space, central air, and other heating equipment. Its compact site limits the amount of exterior ground to maintain while preserving the property's multifamily configuration.
The property is located in Baltimore City, MD 21217. The available property information identifies transportation options and essential amenities in the surrounding area but does not specify particular destinations or routes.
The property is located in Baltimore City, MD 21217. The available property information identifies transportation options and essential amenities in the surrounding area but does not specify particular destinations or routes.
Key Highlights
- Triplex configuration
- 2,880 square feet of finished area
- 0.0518‑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
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Frequently Asked Questions
What type of property is this?
Triplex - Brick construction, central air, and basement space support a practical multifamily layout.
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; 2,880 square feet of finished area; 0.0518‑acre lot
