6-Unit Multifamily
New
For Sale
$900,000
2903 RIDGE RD, Baltimore, MD 21244
Three residential buildings on one parcel combine rental units with a wooded, rural setting.
Property Size5,641 SF
Lot Size6.80 Acres
Price / SF$159.55
Days on Market3
Property Features for 2903 RIDGE RD
General Information
Standard status
Active
Size
5,641 SF
Lot size
6.80 Acres
Property subtype
Multi-family
Units
Unit Mix
6 x 2BR
Multifamily Units
6
Building Details
Buildings
3
Listing Agency:
Northrop Realty
(410) 549-2200
Listed By:
Patrick T Komiske II · License #596755
(410) 596-6523
Source:
Towncentermd
Added: Oct 9
Changed: Oct 10
Last Checked: Oct 11 at 6:05AM
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 Northrop Realty
Investment Insights
Based on property information with market context.
This 5,641-square-foot multifamily property comprises six two-bedroom apartments in three separate residential buildings on a 6.8-acre parcel. The buildings date to the 1950s, and hot water heaters have been updated throughout. The 2903 Ridge building has a new roof and an oil burner replaced in May 2026; the 2905 Ridge building received a roof replacement in 2024 and has propane heat in its second-floor unit. The 2845 Ridge building has a separate well and a septic system replaced in 2023. The 2903 Ridge building uses a shared well.
The two buildings at 2903 and 2905 Ridge are near the street, while 2845 Ridge sits farther back beside wooded land. The grounds include cleared fields, rolling terrain, mature trees, and a stream. All three buildings remain on one parcel.
The two buildings at 2903 and 2905 Ridge are near the street, while 2845 Ridge sits farther back beside wooded land. The grounds include cleared fields, rolling terrain, mature trees, and a stream. All three buildings remain on one parcel.
Key Highlights
- Six two‑bedroom apartments across three residential buildings
- 5,641 square feet on a 6.8‑acre parcel
- Buildings date to the 1950s; hot water heaters updated throughout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$73,493
Cap Rate
8.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,469,860
$1.5M
Cap Rate 7%
$1,049,900
$1.0M
Cap Rate 9%
$816,589
$816.6K
Market Conditions
NOI Build-Up for 5,641 SF
Gross rent
$142.2K $25.20/SF
− Vacancy
−$8.5K −$1.51/SF
EGI
$133.6K $23.69/SF
− OpEx
−$60.1K −$10.66/SF
NOI
$73.5K $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 Rate 5%
$1,469,860
Cap Rate 7%
$1,049,900
Cap Rate 9%
$816,589
Alternative Uses
Best Use
Apartment 5plus
$1.05M
$918.7K – $1.22M
NOI $73,493 @ 7.0% cap · market cap 8.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.35M
$1.18M – $1.58M
NOI $94,600 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
27
Businesses Nearby
Explore this area
Business Placement
Demographics for 21244, MD
38,015
Population
15,006
Households
2.5
Avg Household Size
36
Median Age
35%
College-Educated
90%
High-School Grad
14.1 sq mi
ZIP Area
2,696
Density / Sq Mi
$84,849
Median Household Income
$45,367
Median Earnings
$1,538
Median Rent
$271,200
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?
Multifamily property - Three residential buildings on one parcel combine rental units with a wooded, rural setting.
Where is this multifamily property located?
The property is located at 2903 RIDGE RD Baltimore, MD.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Six two‑bedroom apartments across three residential buildings; 5,641 square feet on a 6.8‑acre parcel; Buildings date to the 1950s; hot water heaters updated throughout
