Renovated Two-Unit
New
For Sale
$224,900
3003 PRESSTMAN Street, Baltimore, MD 21216
MULTI_FAMILY - Other - BALTIMORE, MD
Property Size1,450 SF
Lot Size0.03 Acres
Price / SF$155.10
Days on Market4
Property Features for 3003 PRESSTMAN Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking
2
Parking features
Garage - Detached
Interior features
Breakfast Area, Entry Level Bedroom, Floor Plan - Open
Subdivision
ROSEMONT
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
1,450 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
1112
Utilities
Heating system
Other (Heating)
Building Details
Year built
1920
Number of units
1
Building materials
Brick
Architectural style
Other
Listing Agency:
Samson Properties
(301) 850-0255
Listed By:
Floretta Davis · License #582030
(301) 640-1978
Added: Aug 7
Last Checked: Aug 10 at 1:06AM
MLS# MDBA2226990
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 1,450-square-foot brick duplex, built in 1920, contains two separate residences. The lower unit spans two levels and includes 2 bedrooms and 2 full bathrooms, while the upper residence provides 2 bedrooms and 1 full bathroom. Renovations include refreshed kitchens, updated bathrooms, new flooring, and contemporary finishes. The property also includes a basement, an open floor plan, a breakfast area, and a detached garage.
Both units are occupied, and the rental licenses, inspections, and related credentials are active and current. Located at 3003 Presstman Street in Baltimore, the property is near I-83, Route 40, Downtown Baltimore, public transportation, schools, parks, shopping, dining, and major employers. The site measures 0.03 acres and is identified within Baltimore City, MD 21216.
Both units are occupied, and the rental licenses, inspections, and related credentials are active and current. Located at 3003 Presstman Street in Baltimore, the property is near I-83, Route 40, Downtown Baltimore, public transportation, schools, parks, shopping, dining, and major employers. The site measures 0.03 acres and is identified within Baltimore City, MD 21216.
Key Highlights
- Two‑unit duplex with 1,450 square feet on a 0.03‑acre site
- Unit 1 includes 2 bedrooms, 2 full bathrooms, and two levels
- Unit 2 offers 2 bedrooms and 1 full bathroom on the upper level
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
Multi-tenant
Tenancy
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 updated residences offer separate layouts, full occupancy, and current rental credentials.
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: Two‑unit duplex with 1,450 square feet on a 0.03‑acre site; Unit 1 includes 2 bedrooms, 2 full bathrooms, and two levels; Unit 2 offers 2 bedrooms and 1 full bathroom on the upper level
