Residential Income Property with Harbor
2515 BOSTON STREET Unit 506, Baltimore, MD 21224
For Sale
New
$385,000
The two-bedroom unit includes a private balcony, two assigned garage spaces, and a 50-square-foot storage area.
Property Size1,243 SF
Days on Market6
Property Features for 2515 BOSTON STREET Unit 506
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Units
Multifamily Units
Parking per Unit
Taxes and HOA fees
Annual Taxes
Amenities
fitness room
bike storage
secured gated walkway
resident patio space
resident lounge/entertainment room
24-hour front desk security
Building Details
Building Size
Year Built
Listing Agency:
Redfin Corp
Listed By:
Bryan Carnaggio · License MD #677096
(443) 617-6592
Source:
Thehulsmangroup
Added: Nov 6
Changed: Nov 10
Last Checked: Nov 10 at 2:34PM
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 Redfin Corp
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This two-bedroom residential unit has a private balcony with views of the harbor and skyline. The kitchen features stainless steel appliances, granite counters, tile flooring, and an updated backsplash. The primary bedroom has three French-door closets and a linen closet, while the second bedroom has a double-door closet. Both bathrooms have updated finishes. A new furnace and water heater, along with a new washer installed in 2026, are among the recent improvements. A private 50-square-foot storage unit and multiple interior closets provide additional storage. The building dates to 1987.
Building amenities include a 24-hour front desk, secure entry, package handling, a fitness room, bike storage, a gated walkway, patio space, and a resident lounge with wet bar. Two assigned spaces in a secure private garage convey with the unit; additional assigned spaces may be purchased subject to availability. The property is in Canton, near the waterfront promenade, Safeway, coffee shops, Canton Square, and Canton Waterfront Park.
Building amenities include a 24-hour front desk, secure entry, package handling, a fitness room, bike storage, a gated walkway, patio space, and a resident lounge with wet bar. Two assigned spaces in a secure private garage convey with the unit; additional assigned spaces may be purchased subject to availability. The property is in Canton, near the waterfront promenade, Safeway, coffee shops, Canton Square, and Canton Waterfront Park.
Key Highlights
- Two‑bedroom unit with private balcony overlooking the harbor and skyline
- Two assigned spaces in a secure private garage convey
- Private storage unit measures 50 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,088
Cap Rate
3.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$301,760
$301.8K
Cap Rate 7%
$215,543
$215.5K
Cap Rate 9%
$167,644
$167.6K
Market Conditions
NOI Build-Up for 1,243 SF
Gross rent
$28.9K $23.28/SF
− Vacancy
−$1.5K −$1.21/SF
EGI
$27.4K $22.07/SF
− OpEx
−$12.3K −$9.93/SF
NOI
$15.1K $12.14/SF
Area
ZIP 21224
Vacancy
5.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$301,760
Cap Rate 7%
$215,543
Cap Rate 9%
$167,644
Alternative Uses
Best Use
Apartment 5plus
$215.5K
$188.6K – $251.5K
NOI $15,088 @ 7.0% cap · market cap 3.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$297.8K
$260.6K – $347.4K
NOI $20,845 @ 7.0% cap · market cap 5.41%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,959
Businesses Nearby
Explore this area
Business Placement
Demographics for 21224, MD
54,266
Population
23,433
Households
2.3
Avg Household Size
33
Median Age
50%
College-Educated
85%
High-School Grad
9.3 sq mi
ZIP Area
5,835
Density / Sq Mi
$86,209
Median Household Income
$63,556
Median Earnings
$1,782
Median Rent
$281,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/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 two-bedroom unit includes a private balcony, two assigned garage spaces, and a 50-square-foot storage area.
Where is this residential income property located?
The property is located at 2515 BOSTON STREET Unit 506 Baltimore, MD.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Two‑bedroom unit with private balcony overlooking the harbor and skyline; Two assigned spaces in a secure private garage convey; Private storage unit measures 50 square feet
