Updated Duplex with Detached
For Sale
$295,000
3304 W FOREST PARK Avenue, Baltimore, MD 21216
Multi-Family, BALTIMORE, MD
Property Size1,940 SF
Price / SF$152.06
Days on Market49
Property Features for 3304 W FOREST PARK Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking
4
Parking features
Garage - Detached, Driveway, Off Street
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
1,940 SF
Taxes and HOA fees
Tax Annual Amount
4135
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
separate oversized one-car garage
finished basement
enclosed sun porch
Building Details
Year built
1920
Number of units
1
Building materials
Brick
Listing Agency:
Berkshire Hathaway HomeServices PenFed Realty
(410) 464-5500
Listed By:
Tonee M Young · License #680481
(443) 333-0375
Added: Jul 10
Changed: Aug 24
Last Checked: Aug 27 at 6:06AM
MLS# MDBA2221140
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 1,940-square-foot brick duplex, built in 1920, includes two separately metered residences. Each unit has a private kitchen and full bathroom. The first-floor residence also includes a finished basement and half bathroom, while the second-floor unit features an enclosed sun porch that expands its usable living area.
The property provides an oversized detached one-car garage, driveway parking, and off-street parking for approximately 2-3 vehicles. Building systems include forced-air heating and central air conditioning. Recent improvements include a new HVAC system installed in 2024, a new roof completed in 2025, and new hot water heaters installed in 2026. The layout supports owner occupancy of one unit with separate rental use of the other.
The property provides an oversized detached one-car garage, driveway parking, and off-street parking for approximately 2-3 vehicles. Building systems include forced-air heating and central air conditioning. Recent improvements include a new HVAC system installed in 2024, a new roof completed in 2025, and new hot water heaters installed in 2026. The layout supports owner occupancy of one unit with separate rental use of the other.
Key Highlights
- Two separately metered units, each with a private kitchen and full bathroom
- 1,940 square feet in a brick duplex built in 1920
- Finished basement and half bathroom serve the first‑floor unit
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
$25,275
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
8.57%
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%
$505,500
$505.5K
Cap Rate 7%
$361,071
$361.1K
Cap Rate 9%
$280,833
$280.8K
Market Conditions
NOI Build-Up for 1,940 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
$48.9K $25.20/SF
− Vacancy
−$2.9K −$1.51/SF
EGI
$46.0K $23.69/SF
− OpEx
−$20.7K −$10.66/SF
NOI
$25.3K $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%
$505,500
Cap Rate 7%
$361,071
Cap Rate 9%
$280,833
Alternative Uses
Best Use
Multifamily LT 5
$407.0K
$356.1K – $474.8K
NOI $28,489 @ 7.0% cap · market cap 9.66%
Second Best
Apartment 5plus
$361.1K
$315.9K – $421.3K
NOI $25,275 @ 7.0% cap · market cap 8.57%
Theoretical Best
Office A
$464.8K
$406.7K – $542.2K
NOI $32,534 @ 7.0% cap · market cap 11.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
483
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two separately metered residences offer private kitchens, full bathrooms, and flexible additional living areas.
Where is this duplex located?
The property is located at 3304 W FOREST PARK Avenue Baltimore, MD.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Two separately metered units, each with a private kitchen and full bathroom; 1,940 square feet in a brick duplex built in 1920; Finished basement and half bathroom serve the first‑floor unit
