Two-Home Residential Income
For Sale
$689,900
3417 E JOPPA Road, Baltimore, MD 21234
MULTI_FAMILY - Rambler - BALTIMORE, MD
Property Size2,038 SF
Lot Size2.21 Acres
Price / SF$338.52
Days on Market324
Property Features for 3417 E JOPPA Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
Off Street, Driveway
Subdivision
CARNEY GROVE
High school
PARKVILLE
Elementary school district
BALTIMORE COUNTY PUBLIC SCHOOLS
Middle school district
BALTIMORE COUNTY PUBLIC SCHOOLS
High school district
BALTIMORE COUNTY PUBLIC SCHOOLS
Standard status
Active
Size
2,038 SF
Lot size
2.21 Acres
Taxes and HOA fees
Tax Annual Amount
3762
Utilities
Cooling system
Central Air
Building Details
Year built
1937
Number of units
2
Architectural style
Rambler
Listing Agency:
Berkshire Hathaway HomeServices Homesale Realty
(410) 814-2400
Listed By:
Christopher J Cooke · License #596183
(443) 802-2728
Added: Sep 19, 2025
Changed: Jul 13
Last Checked: Aug 8 at 2:06PM
MLS# MDBC2140908
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 residential income property features two separate houses across three tax IDs on over 2 acres, offering distinct living spaces under one ownership. The main house includes a spacious living room and kitchen, three bedrooms, and two full bathrooms, including one full bath in a finished lower level with a family room. The home also offers an enclosed porch and a rear patio. The second home has its own living room and kitchen, two bedrooms, one full bathroom, and a rear deck.
The property also includes a detached garage, abundant parking, and sprawling grounds. Conveniently located near shopping, dining, and major roadways.
The offering is sold as-is, and the buyer is responsible for verifying zoning.
The property also includes a detached garage, abundant parking, and sprawling grounds. Conveniently located near shopping, dining, and major roadways.
The offering is sold as-is, and the buyer is responsible for verifying zoning.
Key Highlights
- Two separate houses on over 2 acres, offering flexibility for living and rental income.
- Main house features 3 bedrooms, 2 full baths, finished lower level, enclosed porch, and rear patio.
- Second house includes 2 bedrooms, 1 full bath, living room, and kitchen with rear deck.
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
$29,929
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
4.34%
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%
$598,580
$598.6K
Cap Rate 7%
$427,557
$427.6K
Cap Rate 9%
$332,544
$332.5K
Market Conditions
NOI Build-Up for 2,038 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
$45.2K $22.20/SF
− Vacancy
−$2.5K −$1.22/SF
EGI
$42.8K $20.98/SF
− OpEx
−$12.8K −$6.29/SF
NOI
$29.9K $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 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%
$598,580
Cap Rate 7%
$427,557
Cap Rate 9%
$332,544
Alternative Uses
Best Use
Multifamily LT 5
$427.6K
$374.1K – $498.8K
NOI $29,929 @ 7.0% cap · market cap 4.34%
Second Best
Apartment 5plus
$379.3K
$331.9K – $442.5K
NOI $26,552 @ 7.0% cap · market cap 3.85%
Theoretical Best
Office A
$488.2K
$427.2K – $569.6K
NOI $34,177 @ 7.0% cap · market cap 4.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
757
Businesses Nearby
Explore this area
Business Placement
Demographics for 21234, MD
67,308
Population
29,575
Households
2.3
Avg Household Size
40
Median Age
36%
College-Educated
93%
High-School Grad
13.4 sq mi
ZIP Area
5,023
Density / Sq Mi
$83,139
Median Household Income
$52,260
Median Earnings
$1,542
Median Rent
$276,000
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 separate houses on an expansive parcel with a detached garage and abundant parking, sold as-is.
Where is this duplex located?
The property is located at 3417 E JOPPA Road Baltimore, MD.
What is the asking price?
The asking price for this property is $689,900.
What are key features of this property?
This property features: Two separate houses on over 2 acres, offering flexibility for living and rental income.; Main house features **3 bedrooms, 2 full baths, finished lower level, enclosed porch, and rear patio.**; Second house includes 2 bedrooms, 1 full bath, living room, and kitchen with rear deck.
