Building Details

Building Size 1,381 SF

Year Built 1988

Listing Agency: RE/MAX Premier Associates

Listed By: Barry J Nabozny · License #522561 Show Phone

Source: Thehulsmangroup

Added: Aug 5 Changed: Oct 11 Last Checked: Oct 11 at 11:57AM

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Investment Insights

Based on property information with market context.

This first-floor residential income property is a condominium unit with two bedrooms and 1.5 baths. The interior includes an eat-in kitchen, dedicated dining area, and separate living room, creating distinct spaces for daily use. Sliding doors connect the living area to a private patio. The primary bedroom features a private bath and two walk-in closets. Built in 1988, the property also includes access to shared community amenities in Baltimore, including a clubhouse, swimming pool, tennis courts, fitness center, and electric vehicle charging stations.

Key Highlights

• First‑floor condominium unit with 2 bedrooms and 1.5 baths
• Eat‑in kitchen, separate dining area, and living room
• Private patio accessed through sliding doors

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$17,992

Cap Rate

8.18%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$359,840 $359.8K

Cap Rate 7%

$257,029 $257.0K

Cap Rate 9%

$199,911 $199.9K

Market Conditions

NOI Build-Up for 1,381 SF

Gross rent

$34.8K $25.20/SF

− Vacancy

−$2.1K −$1.51/SF

EGI

$32.7K $23.69/SF

− OpEx

−$14.7K −$10.66/SF

NOI

$18.0K $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 Rate 5%

$359,840

Cap Rate 7%

$257,029

Cap Rate 9%

$199,911

Alternative Uses

Best Use

Apartment 5plus

$257.0K

$224.9K – $299.9K (±1% cap)

NOI $17,992 @ 7.0% cap · market cap 8.18%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$330.8K

$289.5K – $386.0K (±1% cap)

NOI $23,159 @ 7.0% cap · market cap 10.53%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Blink Charging Station Electric Vehicle Charging Station SYI Bookkeeping & Consulting, ... Accounting Firm

Suggested Use

Top Pick Restaurant Real Estate Agency Nail Salon Parking Lot & Garage Hair Salon Law Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Residential units

Location Intelligence

Trade Area within ½ mile

548

Businesses Nearby

Explore this area Business Placement

Demographics for 21209, MD

28,659

Population

12,086

Households

2.4

Avg Household Size

37

Median Age

60%

College-Educated

96%

High-School Grad

6.5 sq mi

ZIP Area

4,409

Density / Sq Mi

$87,669

Median Household Income

$57,694

Median Earnings

$1,640

Median Rent

$418,800

Median Home Value

Questions? Ask Rey

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What type of property is this? Where is this residential income properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Residential income property - Two-bedroom condominium unit with an eat-in kitchen, private patio, and access to shared recreational facilities.

Where is this residential income property located?

The property is located at 3021 FALLSTAFF ROAD Unit 102B Baltimore, MD.

What is the asking price?

The asking price for this property is $219,900.

What are key features of this property?

This property features: First‑floor condominium unit with 2 bedrooms and 1.5 baths; Eat‑in kitchen, separate dining area, and living room; Private patio accessed through sliding doors