Updated Two-Bedroom Income
For Sale
$389,000
250 PRESIDENT STREET Unit 306, Baltimore, MD 21202
Updated residence with harbor views, deeded parking, private storage, and access to extensive community amenities.
Property Size1,425 SF
Days on Market60
Property Features for 250 PRESIDENT STREET Unit 306
General Information
Standard status
Active
Size
1,425 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Units
Multifamily Units
1
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$7,901
Amenities
indoor pool
sundeck
fitness center
community room
resident library
game room
24-hour staffed front desk
private storage area
grilling amenities
lounge seating
umbrella shaded relaxation areas
Building Details
Building Size
1,425 SF
Year Built
1988
Listing Agency:
CENTURY 21 New Millennium
(443) 831-8227
Listed By:
MacKenzie R Hoffer · License #0638522
(443) 831-8227
Source:
Thehulsmangroup
Added: Jun 24
Changed: Aug 21
Last Checked: Aug 22 at 10:39AM
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 CENTURY 21 New Millennium
Investment Insights
Based on property information with market context.
This updated residential income property offers a two-bedroom, two-bath layout with harbor views and a spacious interior suited to both daily living and entertaining. Recent improvements include Cali-Bamboo flooring, upgraded shower doors, new toilets, and replacement of the refrigerator, dishwasher, hot water heater, washer, and dryer. The property was built in 1988 and includes a deeded parking space along with a private storage area.
Community amenities include an indoor pool, sundeck with grilling areas and shaded seating, fitness center, community room, library, game room, and a 24-hour staffed front desk. The residence is located at 250 President Street in Baltimore, near Little Italy, Fells Point, Harbor Point, and the Inner Harbor.
Community amenities include an indoor pool, sundeck with grilling areas and shaded seating, fitness center, community room, library, game room, and a 24-hour staffed front desk. The residence is located at 250 President Street in Baltimore, near Little Italy, Fells Point, Harbor Point, and the Inner Harbor.
Key Highlights
- Two‑bedroom, two‑bath residence with harbor views
- Cali‑Bamboo flooring and multiple updated fixtures and appliances
- Deeded parking space plus private storage area
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
$18,565
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
4.77%
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%
$371,300
$371.3K
Cap Rate 7%
$265,214
$265.2K
Cap Rate 9%
$206,278
$206.3K
Market Conditions
NOI Build-Up for 1,425 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
$35.9K $25.20/SF
− Vacancy
−$2.2K −$1.51/SF
EGI
$33.8K $23.69/SF
− OpEx
−$15.2K −$10.66/SF
NOI
$18.6K $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%
$371,300
Cap Rate 7%
$265,214
Cap Rate 9%
$206,278
Alternative Uses
Best Use
Apartment 5plus
$265.2K
$232.1K – $309.4K
NOI $18,565 @ 7.0% cap · market cap 4.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$341.4K
$298.7K – $398.3K
NOI $23,897 @ 7.0% cap · market cap 6.14%
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
6,864
Businesses Nearby
Explore this area
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated residence with harbor views, deeded parking, private storage, and access to extensive community amenities.
Where is this residential income property located?
The property is located at 250 PRESIDENT STREET Unit 306 Baltimore, MD.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath residence with harbor views; Cali‑Bamboo flooring and multiple updated fixtures and appliances; Deeded parking space plus private storage area
