End-of-Group Triplex with Two
339 E 31ST Street, Baltimore, MD 21218
- Added:
- Apr 8, 2026
- Days on Market:
- 90
- Last Refresh:
- Jul 6 at 9:06 pm
Property Features for 339 E 31ST Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Rooms
- Basement
- Parking
- 2
- Parking features
- Garage - Detached, Off Street
- Interior features
- Bathroom - Tub Shower, Bathroom - Walk-In Shower, Ceiling Fan(s), Wood Floors
- Appliances
- Refrigerator, Stove, Washer, Dryer, Oven/Range - Gas, Stainless Steel Appliances, Washer/Dryer Stacked, WaterHeater
- Standard status
- Active
- Size
- 3,024 SF
Taxes and HOA fees
- Tax Annual Amount
- 6622
Utilities
- Heating system
- Forced Air
- Cooling system
- Ductless, Window Unit(s)
Building Details
- Year built
- 1900
- Number of units
- 3
- Building materials
- Brick, Concrete
- Architectural style
- Federal
Listing agent Jamie L Koehler License #640791 (443) 604-5875
Listing office Cummings & Co. Realtors 201 KEY Highway, Baltimore, MD (410) 823-0033
Listing date Apr 8, 2026
MLS# MDBA2206462
Listing URL
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.
HighLights
- 3‑unit end‑of‑group residence with three separately‑metered units plus two rear garages
- Current annual rental income (units 1 & 2): $34,500; unit 1 lease ends 8/31/2026 and unit 2 lease ends 4/30/2027
- Two detached rear garages available for lease (each listed as $150/month) in tandem with the penthouse unit
- Penthouse (unit 3) is 3BD/1BA on the third level with a covered rear deck and rear‑stair access for privacy
- Improvements include new heating systems for units 1 & 3, new mini splits for unit 2, and updated appliances/kitchens (most 2021‑2023)
- 3‑unit rental license is valid through 5/8/2028; landlord pays water bill and tenants are responsible for BGE
Overview
This end-of-group triplex includes three separately-metered, spacious apartments and two rear garages. Units 1 and 2 are each rented and configured as the entire main level (1 bedroom, 1 full bath) and entire second level (3 bedrooms, 1 full bath), respectively, with in-unit laundry, air conditioning, and updated kitchens with modern cabinetry. Unit 3 is a penthouse apartment on the entire third level with a cozy covered rear deck and privacy through rear-stair access only; it is currently intentionally vacant and ready to occupy or lease. The garages are currently available to use or lease.
Unit 1 is rented for $1,325 per month through 8/31/2026, and Unit 2 is rented for $1,550 per month through 4/30/2027. The property is described as having lead certificates and a 3-unit rental license in place (good through 5/8/2028). Residents pay their own BGE accounts and the landlord pays the water bill. Reported recent improvements include new heating systems for Units 1 and 3, new refrigerators for all units, and updates to Unit 3 in 2023, along with multiple 2021 upgrades to Unit 2.
Located in Baltimore’s Charles Village neighborhood, the property is noted to be within about 0.4 to 0.5 miles of Johns Hopkins University, Medstar Union Memorial Hospital, and the Baltimore Museum of Art, with downtown Baltimore roughly 3 miles away. A Special Benefits Tax is also referenced for the area, with a listed annual cost of $392.87. For buyers, the setup supports a range of strategies, including living in Unit 3 while generating income from the two occupied units and using or leasing the garages.
Unit 1 is rented for $1,325 per month through 8/31/2026, and Unit 2 is rented for $1,550 per month through 4/30/2027. The property is described as having lead certificates and a 3-unit rental license in place (good through 5/8/2028). Residents pay their own BGE accounts and the landlord pays the water bill. Reported recent improvements include new heating systems for Units 1 and 3, new refrigerators for all units, and updates to Unit 3 in 2023, along with multiple 2021 upgrades to Unit 2.
Located in Baltimore’s Charles Village neighborhood, the property is noted to be within about 0.4 to 0.5 miles of Johns Hopkins University, Medstar Union Memorial Hospital, and the Baltimore Museum of Art, with downtown Baltimore roughly 3 miles away. A Special Benefits Tax is also referenced for the area, with a listed annual cost of $392.87. For buyers, the setup supports a range of strategies, including living in Unit 3 while generating income from the two occupied units and using or leasing the garages.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $59.9k | $19.80 |
| − Vacancy | −$3.7k | −$1.22 |
| EGI | $56.2k | $18.58 |
| − OpEx | −$16.9k | −$5.57 |
| NOI | $39.3k | $13.00 |
3,024 SF · lease $19.80/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$561.8K
$491.6K – $655.5K
NOI $39,327 @ 7.0% cap · market cap 7.49%
Second Best
Apartment 5plus
$501.2K
$438.5K – $584.7K
NOI $35,083 @ 7.0% cap · market cap 6.68%
Theoretical Best
Office A
$822.2K
$719.4K – $959.2K
NOI $57,553 @ 7.0% cap · market cap 10.96%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- Baltimore
- County
- Baltimore
- State
- Maryland
- Longitude
- -76.61119
- Latitude
- 39.32579
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Three separately-metered units with in-unit laundry and two garages offer flexibility for rental income or owner-occupancy.
Where is this triplex located?
The property is located at 339 E 31ST Street Baltimore, MD.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 3‑unit end‑of‑group residence with three separately‑metered units plus two rear garages; Current annual rental income (units 1 & 2): $34,500; unit 1 lease ends 8/31/2026 and unit 2 lease ends 4/30/2027; Two detached rear garages available for lease (each listed as $150/month) in tandem with the penthouse unit
