Duplex with Daylight
New
For Sale
$230,000
2844 E FEDERAL STREET, Baltimore, MD 21213
Brick duplex with hardwood floors, outdoor areas, updated living space, and convenient public transportation access.
Property Size1,356 SF
Lot Size0.04 Acres
Days on Market3
Property Features for 2844 E FEDERAL STREET
General Information
Standard status
Active
Size
1,356 SF
Lot size
0.04 Acres
Property subtype
Duplex
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,042
Building Details
Building Size
1,356 SF
Year Built
1950
Construction
Federal
Listing Agency:
Long & Foster Real Estate, Inc.
(410) 583-5700
Listed By:
Debbye W Bell · License #45058
(410) 583-5700
Source:
Thehulsmangroup
Added: Aug 9
Changed: Aug 10
Last Checked: Aug 11 at 12:16PM
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 Long & Foster Real Estate, Inc.
Investment Insights
Based on property information with market context.
This Baltimore duplex presents a brick exterior, hardwood flooring through the primary living areas, and a terrace-level kitchen adjoining a spacious dining area. The property includes two full bathrooms, modern kitchen and laundry appliances, and a daylight basement with improved finishes and walkout stairs that expands the usable interior space. A main entrance lock and smoke detectors are also installed.
Front and rear yards provide outdoor space, while exterior lighting adds illumination around the property. The 1,742-square-foot lot includes access to on-street parking, and a bus stop is located less than a mile away. Built in 1950, the residence also offers city views and a combination of private and shared living areas.
Front and rear yards provide outdoor space, while exterior lighting adds illumination around the property. The 1,742-square-foot lot includes access to on-street parking, and a bus stop is located less than a mile away. Built in 1950, the residence also offers city views and a combination of private and shared living areas.
Key Highlights
- Duplex with a daylight basement, improved finishes, and walkout stairs
- 1,742‑square‑foot lot with front and rear yards
- Hardwood flooring throughout the primary living areas
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
$19,913
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
8.66%
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%
$398,260
$398.3K
Cap Rate 7%
$284,471
$284.5K
Cap Rate 9%
$221,256
$221.3K
Market Conditions
NOI Build-Up for 1,356 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
$30.1K $22.20/SF
− Vacancy
−$1.7K −$1.22/SF
EGI
$28.4K $20.98/SF
− OpEx
−$8.5K −$6.29/SF
NOI
$19.9K $14.69/SF
Area
Baltimore, MD
Vacancy
5.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
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%
$398,260
Cap Rate 7%
$284,471
Cap Rate 9%
$221,256
Alternative Uses
Best Use
Multifamily LT 5
$284.5K
$248.9K – $331.9K
NOI $19,913 @ 7.0% cap · market cap 8.66%
Second Best
Apartment 5plus
$252.4K
$220.8K – $294.5K
NOI $17,667 @ 7.0% cap · market cap 7.68%
Theoretical Best
Office A
$324.9K
$284.3K – $379.0K
NOI $22,740 @ 7.0% cap · market cap 9.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
637
Businesses Nearby
Explore this area
Business Placement
Demographics for 21213, MD
28,217
Population
14,549
Households
1.9
Avg Household Size
38
Median Age
17%
College-Educated
84%
High-School Grad
3.4 sq mi
ZIP Area
8,299
Density / Sq Mi
$50,031
Median Household Income
$41,378
Median Earnings
$1,253
Median Rent
$134,900
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?
Duplex - Brick duplex with hardwood floors, outdoor areas, updated living space, and convenient public transportation access.
Where is this duplex located?
The property is located at 2844 E FEDERAL STREET Baltimore, MD.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Duplex with a daylight basement, improved finishes, and walkout stairs; 1,742‑square‑foot lot with front and rear yards; Hardwood flooring throughout the primary living areas
