Renovated Two-Unit
New
For Sale
$224,900
3003 PRESSTMAN STREET, Baltimore, MD 21216
Two separately leased residences offer updated interiors, active rental credentials, and full occupancy in West Baltimore.
Property Size1,450 SF
Price / SF$155.10
Days on Market7
Property Features for 3003 PRESSTMAN STREET
General Information
Standard status
Active
Size
1,450 SF
Property subtype
Duplex
Occupancy
100%
Units
Unit Mix
1 x 2BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1920
Buildings
1
Listing Agency:
Samson Properties
(301) 640-1978
Listed By:
Floretta Davis · License #0225265926
(301) 640-1978
Source:
Cummingsrealtors
Added: Aug 5
Changed: Aug 11
Last Checked: Aug 11 at 8:54AM
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 Samson Properties
Investment Insights
Based on property information with market context.
Built in 1920, this 1,450-square-foot duplex contains two renovated residences with separate rental income. The lower residence spans two levels and includes 2 bedrooms and 2 full bathrooms, while the upper residence provides 2 bedrooms and 1 full bathroom. Improvements include refreshed kitchens, updated bathrooms, new flooring, and contemporary finishes throughout.
Both units are occupied, and the property’s rental licenses, inspections, and related credentials are active and current. The 3003 Presstman Street address provides access to I-83, Route 40, Downtown Baltimore, public transportation, schools, parks, shopping, dining, and major employers. The duplex offers an established two-unit configuration with completed improvements and existing tenancy.
Both units are occupied, and the property’s rental licenses, inspections, and related credentials are active and current. The 3003 Presstman Street address provides access to I-83, Route 40, Downtown Baltimore, public transportation, schools, parks, shopping, dining, and major employers. The duplex offers an established two-unit configuration with completed improvements and existing tenancy.
Key Highlights
- 1,450‑square‑foot duplex built in 1920
- Two occupied rental units with 100% occupancy
- Unit 1 offers 2 bedrooms, 2 full bathrooms, and two levels
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
$18,891
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
8.40%
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%
$377,820
$377.8K
Cap Rate 7%
$269,871
$269.9K
Cap Rate 9%
$209,900
$209.9K
Market Conditions
NOI Build-Up for 1,450 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
$36.5K $25.20/SF
− Vacancy
−$2.2K −$1.51/SF
EGI
$34.3K $23.69/SF
− OpEx
−$15.5K −$10.66/SF
NOI
$18.9K $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%
$377,820
Cap Rate 7%
$269,871
Cap Rate 9%
$209,900
Alternative Uses
Best Use
Multifamily LT 5
$304.2K
$266.2K – $354.9K
NOI $21,294 @ 7.0% cap · market cap 9.47%
Second Best
Apartment 5plus
$269.9K
$236.1K – $314.9K
NOI $18,891 @ 7.0% cap · market cap 8.40%
Theoretical Best
Office A
$347.4K
$304.0K – $405.3K
NOI $24,317 @ 7.0% cap · market cap 10.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
641
Businesses Nearby
Explore this area
Business Placement
Demographics for 21216, MD
27,729
Population
15,613
Households
1.8
Avg Household Size
39
Median Age
16%
College-Educated
87%
High-School Grad
3.3 sq mi
ZIP Area
8,403
Density / Sq Mi
$46,440
Median Household Income
$36,634
Median Earnings
$1,160
Median Rent
$148,800
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 leased residences offer updated interiors, active rental credentials, and full occupancy in West Baltimore.
Where is this duplex located?
The property is located at 3003 PRESSTMAN STREET Baltimore, MD.
What is the asking price?
The asking price for this property is $224,900.
What are key features of this property?
This property features: 1,450‑square‑foot duplex built in 1920; Two occupied rental units with 100% occupancy; Unit 1 offers 2 bedrooms, 2 full bathrooms, and two levels
