Residential Income
For Sale
$229,000
315 ELRINO STREET, Baltimore, MD 21224
Baltimore City residential income property with finished basement space, natural gas radiant heat, and an exterior-entry layout.
Property Size1,980 SF
Price / SF$136.31
Days on Market110
Property Features for 315 ELRINO STREET
General Information
Standard status
Active
Size
1,980 SF
Property subtype
Residential Income
Zoning
R8
Taxes and HOA fees
Annual Taxes
$5,131
Amenities
Window Unit(s), Electric
Natural Gas, Radiant
Finished, Exterior Entry, Full, Interior Entry
Gas Water Heater
On Street
Federal
Building Details
Building Size
1,980 SF
Year Built
1942
Listing Agency:
Cummings & Co. Realtors
Listed By:
Caitlin Regan · License #661039
(443) 990-1115
Source:
Evrealestate
Added: Jul 2
Changed: Oct 15
Last Checked: Oct 19 at 5:11AM
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 Cummings & Co. Realtors
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Investment Insights
Based on property information with market context.
This residential income property was built in 1942 and includes a finished full basement with both interior and exterior entry. Interior systems include natural gas radiant heat, electric window unit cooling, and a gas water heater. The property also offers on-street parking and Federal exterior architecture.
Located at 315 Elrino Street in Baltimore, the property is within Baltimore City and is zoned R8. The combination of finished lower-level space, multiple entry points, and established building construction provides a defined residential income property configuration.
Located at 315 Elrino Street in Baltimore, the property is within Baltimore City and is zoned R8. The combination of finished lower-level space, multiple entry points, and established building construction provides a defined residential income property configuration.
Key Highlights
- R8 zoning in Baltimore City
- Built in 1942
- Finished full basement with interior and exterior entry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,392
Cap Rate
8.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$407,840
$407.8K
Cap Rate 7%
$291,314
$291.3K
Cap Rate 9%
$226,578
$226.6K
Market Conditions
NOI Build-Up for 1,680 SF
Gross rent
$39.1K $23.28/SF
− Vacancy
−$2.0K −$1.21/SF
EGI
$37.1K $22.07/SF
− OpEx
−$16.7K −$9.93/SF
NOI
$20.4K $12.14/SF
Area
ZIP 21224
Vacancy
5.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$407,840
Cap Rate 7%
$291,314
Cap Rate 9%
$226,578
Alternative Uses
Best Use
Apartment 5plus
$291.3K
$254.9K – $339.9K
NOI $20,392 @ 7.0% cap · market cap 8.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$402.5K
$352.2K – $469.6K
NOI $28,174 @ 7.0% cap · market cap 12.30%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,833
Businesses Nearby
Explore this area
Business Placement
Demographics for 21224, MD
54,266
Population
23,433
Households
2.3
Avg Household Size
33
Median Age
50%
College-Educated
85%
High-School Grad
9.3 sq mi
ZIP Area
5,835
Density / Sq Mi
$86,209
Median Household Income
$63,556
Median Earnings
$1,782
Median Rent
$281,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Baltimore City residential income property with finished basement space, natural gas radiant heat, and an exterior-entry layout.
Where is this residential income property located?
The property is located at 315 ELRINO STREET Baltimore, MD.
What is the asking price?
The asking price for this property is $229,000.
What are key features of this property?
This property features: R8 zoning in Baltimore City; Built in 1942; Finished full basement with interior and exterior entry
