Occupied Three-Unit
New
For Sale
$724,900
312 EMORY STREET, Baltimore, MD 21230
Three rented residences combine distinct bedroom and bathroom layouts with updated kitchens and in-unit laundry.
Property Size3,348 SF
Days on Market6
Property Features for 312 EMORY STREET
General Information
Standard status
Active
Size
3,348 SF
Property subtype
Triplex
Occupancy
100%
Site & Location
Neighborhood
Ridgelys Delight
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/2BA, 1 x 2BR/2BA
Multifamily Units
3
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$16,024
Amenities
in-unit laundry facilities
Building Details
Building Size
3,348 SF
Year Built
1900
Tenancy
Multi
Listing Agency:
Keller Williams Capital Properties
Listed By:
David Zeff · License #641068
(301) 792-3990
Source:
Thehulsmangroup
Added: Oct 26
Changed: Oct 28
Last Checked: Oct 30 at 9:03PM
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 Keller Williams Capital Properties
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Investment Insights
Based on property information with market context.
This triplex contains three separately addressed residences: 312 Emory Street, 314 Emory Street, and 629 Melvin Drive. The units offer a combined seven bedrooms and five full bathrooms. Layouts range from two bedrooms and one bathroom to three bedrooms and two bathrooms, with one residence arranged across multiple levels. All three units are currently rented. Interior features include updated kitchens with granite countertops, stainless steel appliances, and contemporary cabinetry, as well as updated bathrooms, laminate flooring, and in-unit laundry. The property was built in 1900.
The property is at the corner of Emory Street and Melvin Drive in Baltimore’s Ridgely’s Delight neighborhood. Nearby destinations include the University of Maryland, Baltimore campus, University of Maryland Medical Center, Baltimore VA Medical Center, Oriole Park at Camden Yards, and M&T Bank Stadium. Camden Station provides MARC and Light Rail connections, and I-95 and I-395 are among the nearby commuter routes.
The property is at the corner of Emory Street and Melvin Drive in Baltimore’s Ridgely’s Delight neighborhood. Nearby destinations include the University of Maryland, Baltimore campus, University of Maryland Medical Center, Baltimore VA Medical Center, Oriole Park at Camden Yards, and M&T Bank Stadium. Camden Station provides MARC and Light Rail connections, and I-95 and I-395 are among the nearby commuter routes.
Key Highlights
- Three separately addressed residences at 312 Emory Street, 314 Emory Street, and 629 Melvin Drive
- All three units are currently rented
- Combined unit mix: seven bedrooms and five full bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,166
Cap Rate
6.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$983,320
$983.3K
Cap Rate 7%
$702,371
$702.4K
Cap Rate 9%
$546,289
$546.3K
Market Conditions
NOI Build-Up for 3,348 SF
Gross rent
$74.3K $22.20/SF
− Vacancy
−$4.1K −$1.22/SF
EGI
$70.2K $20.98/SF
− OpEx
−$21.1K −$6.29/SF
NOI
$49.2K $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%
$983,320
Cap Rate 7%
$702,371
Cap Rate 9%
$546,289
Alternative Uses
Best Use
Multifamily LT 5
$702.4K
$614.6K – $819.4K
NOI $49,166 @ 7.0% cap · market cap 6.78%
Second Best
Apartment 5plus
$623.1K
$545.2K – $727.0K
NOI $43,619 @ 7.0% cap · market cap 6.02%
Theoretical Best
Office A
$802.1K
$701.8K – $935.8K
NOI $56,146 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
7,282
Businesses Nearby
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Business Placement
Demographics for 21230, MD
36,660
Population
18,070
Households
2
Avg Household Size
33
Median Age
59%
College-Educated
88%
High-School Grad
6.3 sq mi
ZIP Area
5,819
Density / Sq Mi
$94,164
Median Household Income
$69,973
Median Earnings
$1,771
Median Rent
$327,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three rented residences combine distinct bedroom and bathroom layouts with updated kitchens and in-unit laundry.
Where is this triplex located?
The property is located at 312 EMORY STREET Baltimore, MD.
What is the asking price?
The asking price for this property is $724,900.
What are key features of this property?
This property features: Three separately addressed residences at 312 Emory Street, 314 Emory Street, and 629 Melvin Drive; All three units are currently rented; Combined unit mix: seven bedrooms and five full bathrooms
