Renovated 4-Unit Apartment
For Sale
$649,900
2908 N Calvert St, Baltimore, MD 21202
The four-apartment property includes a mix of one- and three-bedroom floor plans near Johns Hopkins University.
Property Size2,932 SF
Price / SF$221.66
Days on Market8
Property Features for 2908 N Calvert St
General Information
Standard status
Active
Size
2,932 SF
Property subtype
Residential Income
Units
Unit Mix
3 x 1BR/1BA, 1 x 3BR/2BA
Multifamily Units
4
Additional Details
Gross Income
$67,440
Taxes and HOA fees
Annual Taxes
$7,779
Building Details
Year Renovated
2021
Listing Agency:
EXP Realty, LLC
(571) 839-2852
Listed By:
Yony Kifle · License #655732
(202) 597-1064
Source:
Exprealty
Added: Sep 28
Changed: Oct 5
Last Checked: Oct 4 at 3:22PM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This 2,932-square-foot quadplex at 2908 N Calvert Street contains three one-bedroom, one-bath apartments and one three-bedroom, two-bath apartment. Three units received new kitchens, bathrooms, and flooring in 2021. Other work includes lobby stairs and exterior paint in 2021; a new hot water tank and heating-system service in 2022; a roof and garage door in 2023; a sump pump in 2024; and replacement of the porch and its roof in 2026. Galvanized piping was also replaced in part, and gutters were repaired as needed in 2025.
The property is approximately three blocks from Johns Hopkins University. Tenants cover their utilities, with water costs divided among the four apartments. The owner pays for winter heat in units served by radiators.
The property is approximately three blocks from Johns Hopkins University. Tenants cover their utilities, with water costs divided among the four apartments. The owner pays for winter heat in units served by radiators.
Key Highlights
- Four apartments: three 1‑bedroom/1‑bath units and one 3‑bedroom/2‑bath unit
- 2,932‑square‑foot building approximately three blocks from Johns Hopkins University
- Three apartments updated with new kitchens, bathrooms, and flooring in 2021
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,057
Cap Rate
6.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$861,140
$861.1K
Cap Rate 7%
$615,100
$615.1K
Cap Rate 9%
$478,411
$478.4K
Market Conditions
NOI Build-Up for 2,932 SF
Gross rent
$65.1K $22.20/SF
− Vacancy
−$3.6K −$1.22/SF
EGI
$61.5K $20.98/SF
− OpEx
−$18.5K −$6.29/SF
NOI
$43.1K $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 Rate 5%
$861,140
Cap Rate 7%
$615,100
Cap Rate 9%
$478,411
Alternative Uses
Best Use
Multifamily LT 5
$615.1K
$538.2K – $717.6K
NOI $43,057 @ 7.0% cap · market cap 6.63%
Second Best
Apartment 5plus
$545.7K
$477.5K – $636.7K
NOI $38,199 @ 7.0% cap · market cap 5.88%
Theoretical Best
Office A
$702.4K
$614.6K – $819.5K
NOI $49,170 @ 7.0% cap · market cap 7.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
3,076
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - The four-apartment property includes a mix of one- and three-bedroom floor plans near Johns Hopkins University.
Where is this quadplex located?
The property is located at 2908 N Calvert St Baltimore, MD.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Four apartments: three 1‑bedroom/1‑bath units and one 3‑bedroom/2‑bath unit; 2,932‑square‑foot building approximately three blocks from Johns Hopkins University; Three apartments updated with new kitchens, bathrooms, and flooring in 2021
