Legally Zoned Duplex With
For Sale
$287,000
Pending
2908 Clearview Avenue, Baltimore, MD 21234
Two separately metered units with updated interiors and off-street parking, offering flexible owner-occupant or rental use.
Property Size1,740 SF
Days on Market96
Property Features for 2908 Clearview Avenue
General Information
Standard status
Pending
Size
1,740 SF
Property subtype
Multi-Family / Fee Simple
Zoning
R-5
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,920
Amenities
No
No Pool
Building Details
Year Built
1941
Tenancy
Multi
Listing Agency:
Keller Williams Gateway LLC
Listed By:
Gabriel M Dutton · License #647863
(443) 756-4878
Source:
Compass
Added: Jun 3
Changed: Aug 8
Last Checked: Jul 24 at 1:46PM
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 Keller Williams Gateway LLC
Investment Insights
Based on property information with market context.
This legally zoned duplex features two updated units, each with renovated living spaces and a newer HVAC system. The first unit includes an updated kitchen with stainless steel appliances, granite countertops, a mosaic backsplash, quality cabinetry, and recessed lighting, along with updated flooring and two upgraded bathrooms. The second unit offers its own renovated kitchen with recessed lighting, updated flooring, and a renovated bathroom. Both units are separately metered, supporting clean, straightforward ownership and utility management, and the property includes off-street parking for everyday convenience.
Located in Baltimore City (within city limits), 2908 Clearview Avenue is positioned for practicality, with Parkville Shopping Center and quick access to I-695 minutes away, per the listing remarks. The school district is Baltimore City Public Schools.
This configuration can suit tenants seeking independent spaces within the same property, while also supporting an owner-occupant “live in one, rent the other” setup. With updated kitchens, renovated bathrooms, newer HVAC systems, and separate metering already in place, the property is designed to reduce near-term unit-level concerns for an operator or buyer.
Located in Baltimore City (within city limits), 2908 Clearview Avenue is positioned for practicality, with Parkville Shopping Center and quick access to I-695 minutes away, per the listing remarks. The school district is Baltimore City Public Schools.
This configuration can suit tenants seeking independent spaces within the same property, while also supporting an owner-occupant “live in one, rent the other” setup. With updated kitchens, renovated bathrooms, newer HVAC systems, and separate metering already in place, the property is designed to reduce near-term unit-level concerns for an operator or buyer.
Key Highlights
- Legally zoned multifamily property with 2 separately metered units for clean, straightforward landlord billing.
- Updated first unit: stainless steel appliances, granite countertops, mosaic backsplash, upgraded kitchen, and recessed lighting.
- Updated second unit with its own renovated kitchen, recessed lighting, updated flooring, and an updated bathroom.
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
$25,552
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
8.90%
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%
$511,040
$511.0K
Cap Rate 7%
$365,029
$365.0K
Cap Rate 9%
$283,911
$283.9K
Market Conditions
NOI Build-Up for 1,740 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
$38.6K $22.20/SF
− Vacancy
−$2.1K −$1.22/SF
EGI
$36.5K $20.98/SF
− OpEx
−$11.0K −$6.29/SF
NOI
$25.6K $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%
$511,040
Cap Rate 7%
$365,029
Cap Rate 9%
$283,911
Alternative Uses
Best Use
Multifamily LT 5
$365.0K
$319.4K – $425.9K
NOI $25,552 @ 7.0% cap · market cap 8.90%
Second Best
Apartment 5plus
$323.8K
$283.4K – $377.8K
NOI $22,669 @ 7.0% cap · market cap 7.90%
Theoretical Best
Office A
$416.9K
$364.8K – $486.3K
NOI $29,180 @ 7.0% cap · market cap 10.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
893
Businesses Nearby
Explore this area
Business Placement
Demographics for 21234, MD
67,308
Population
29,575
Households
2.3
Avg Household Size
40
Median Age
36%
College-Educated
93%
High-School Grad
13.4 sq mi
ZIP Area
5,023
Density / Sq Mi
$83,139
Median Household Income
$52,260
Median Earnings
$1,542
Median Rent
$276,000
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 - Two separately metered units with updated interiors and off-street parking, offering flexible owner-occupant or rental use.
Where is this duplex located?
The property is located at 2908 Clearview Avenue Baltimore, MD.
What is the asking price?
The asking price for this property is $287,000.
What are key features of this property?
This property features: Legally zoned multifamily property with 2 separately metered units for clean, straightforward landlord billing.; Updated first unit: stainless steel appliances, granite countertops, mosaic backsplash, upgraded kitchen, and recessed lighting.; Updated second unit with its own renovated kitchen, recessed lighting, updated flooring, and an updated bathroom.
