Residential Income Property with
250 PRESIDENT STREET Unit 1402, Baltimore, MD 21202
For Sale
$799,000
The condominium residence combines flexible upper-level space, private outdoor areas, and access to shared building amenities.
Property Size3,000 SF
Price / SF$266.33
Days on Market143
Property Features for 250 PRESIDENT STREET Unit 1402
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
24/7 front desk
indoor pool
fitness center
library
billiards room
community room
Building Details
Building Size
Year Built
Listing Agency:
Cummings & Co. Realtors
Listed By:
Angela M Stevens · License MD #96906
(410) 303-8700
Source:
Genedru
Added: Jun 22
Changed: Nov 5
Last Checked: Nov 10 at 8:15AM
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 Cummings & Co. Realtors
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Investment Insights
Based on property information with market context.
This 3,000-square-foot penthouse residence in Scarlett Place Condominiums has three bedrooms and 2.5 baths. Its open-plan living area connects to two private balconies, and three fireplaces are located throughout the home. An upstairs bonus room can serve as an additional bedroom or as office, media, or exercise space. The upper level also has two storage areas and a separate HVAC system.
Residents have access to a 24/7 front desk, indoor pool, fitness center, library, billiards room, and community room. The residence includes two assigned parking spaces beside the elevator. Built in 1988, the property is in Baltimore’s waterfront district, within walking distance of Little Italy, Harbor East, the National Aquarium, and the Inner Harbor.
Residents have access to a 24/7 front desk, indoor pool, fitness center, library, billiards room, and community room. The residence includes two assigned parking spaces beside the elevator. Built in 1988, the property is in Baltimore’s waterfront district, within walking distance of Little Italy, Harbor East, the National Aquarium, and the Inner Harbor.
Key Highlights
- 3,000‑square‑foot penthouse residence with 3 bedrooms and 2.5 baths
- Two private balconies and three fireplaces
- Upper‑level bonus room, two storage areas, and a separate HVAC system
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,085
Cap Rate
4.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$781,700
$781.7K
Cap Rate 7%
$558,357
$558.4K
Cap Rate 9%
$434,278
$434.3K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$75.6K $25.20/SF
− Vacancy
−$4.5K −$1.51/SF
EGI
$71.1K $23.69/SF
− OpEx
−$32.0K −$10.66/SF
NOI
$39.1K $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%
$781,700
Cap Rate 7%
$558,357
Cap Rate 9%
$434,278
Alternative Uses
Best Use
Apartment 5plus
$558.4K
$488.6K – $651.4K
NOI $39,085 @ 7.0% cap · market cap 4.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$718.7K
$628.9K – $838.5K
NOI $50,310 @ 7.0% cap · market cap 6.30%
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
6,864
Businesses Nearby
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Business Placement
Demographics for 21202, MD
22,247
Population
12,731
Households
1.7
Avg Household Size
33
Median Age
48%
College-Educated
86%
High-School Grad
1.6 sq mi
ZIP Area
13,904
Density / Sq Mi
$61,578
Median Household Income
$53,609
Median Earnings
$1,497
Median Rent
$307,700
Median Home Value
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Market
Average Price Trend$/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 - The condominium residence combines flexible upper-level space, private outdoor areas, and access to shared building amenities.
Where is this residential income property located?
The property is located at 250 PRESIDENT STREET Unit 1402 Baltimore, MD.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 3,000‑square‑foot penthouse residence with 3 bedrooms and 2.5 baths; Two private balconies and three fireplaces; Upper‑level bonus room, two storage areas, and a separate HVAC system
