Brick Duplex with Finished
New
For Sale
$179,000
2910 FEDERAL Street, Baltimore, MD 21213
Multi-Family, BALTIMORE, MD
Property Size1,216 SF
Lot Size0.04 Acres
Price / SF$147.20
Days on Market3
Property Features for 2910 FEDERAL Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking features
On Street, Alley
Elementary school
TUNBRIDGE PUBLIC CHARTER SCHOOL
High school
BALTIMORE POLYTECHNIC INSTITUTE
Elementary school district
BALTIMORE CITY PUBLIC SCHOOLS
Middle school district
BALTIMORE CITY PUBLIC SCHOOLS
High school district
BALTIMORE CITY PUBLIC SCHOOLS
Standard status
Active
Size
1,216 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
2686
Utilities
Heating system
Forced Air
Cooling system
Window Unit(s)
Amenities
in-unit laundry
fully finished basement with walkout stairs
Building Details
Year built
1950
Number of units
2
Building materials
Brick
Architectural style
Other
Listing Agency:
EXP Realty, LLC
(571) 398-5989
Listed By:
Jasmine M Thomas · License #5007623
(227) 218-7995
Added: Sep 25
Changed: Sep 27
Last Checked: Sep 27 at 1:06PM
MLS# MDBA2232520
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This brick duplex contains 1,216 square feet on a 0.0393-acre lot. A finished basement with walkout stairs adds usable interior space, and the property includes in-unit laundry. Forced-air heating and window-unit cooling serve the building.
Built in 1950, the property is less than a mile from a bus stop. Parking options include on-street spaces and alley access.
Built in 1950, the property is less than a mile from a bus stop. Parking options include on-street spaces and alley access.
Key Highlights
- 1,216‑square‑foot duplex on a 0.0393‑acre lot
- Finished basement with walkout stairs
- In‑unit laundry
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
$15,843
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
8.85%
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%
$316,860
$316.9K
Cap Rate 7%
$226,329
$226.3K
Cap Rate 9%
$176,033
$176.0K
Market Conditions
NOI Build-Up for 1,216 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
$30.6K $25.20/SF
− Vacancy
−$1.8K −$1.51/SF
EGI
$28.8K $23.69/SF
− OpEx
−$13.0K −$10.66/SF
NOI
$15.8K $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 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%
$316,860
Cap Rate 7%
$226,329
Cap Rate 9%
$176,033
Alternative Uses
Best Use
Multifamily LT 5
$255.1K
$223.2K – $297.6K
NOI $17,857 @ 7.0% cap · market cap 9.98%
Second Best
Apartment 5plus
$226.3K
$198.0K – $264.1K
NOI $15,843 @ 7.0% cap · market cap 8.85%
Theoretical Best
Office A
$291.3K
$254.9K – $339.9K
NOI $20,392 @ 7.0% cap · market cap 11.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - The 1950-built property combines brick construction with in-unit laundry and a finished lower level.
Where is this duplex located?
The property is located at 2910 FEDERAL Street Baltimore, MD.
What is the asking price?
The asking price for this property is $179,000.
What are key features of this property?
This property features: 1,216‑square‑foot duplex on a 0.0393‑acre lot; Finished basement with walkout stairs; In‑unit laundry
