Two-Home Duplex with Detached
For Sale
$689,900
3417 E JOPPA Road, Baltimore, MD 21234
MULTI_FAMILY - Ranch - BALTIMORE, MD
Property Size2,038 SF
Lot Size2.21 Acres
Price / SF$338.52
Days on Market338
Property Features for 3417 E JOPPA Road
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Rooms
Basement
Parking features
Driveway, Off Street
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
Amenities
enclosed porch
rear patio
rear deck
detached garage
Building Details
Year built
1937
Number of units
2
Architectural style
Ranch
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: Aug 13
Last Checked: Aug 22 at 2:06AM
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 duplex property includes two separate residences on a 2.21-acre parcel. The primary home contains a living room, kitchen, three bedrooms, and two full baths, with additional finished lower-level family space and an enclosed porch. The second residence has its own living room, kitchen, two bedrooms, one full bath, and a rear deck. Central air serves the property, while a detached garage, driveway, and off-street parking provide additional utility. The property size is 2,038 square feet and the original construction dates to 1937.
Located at 3417 E JOPPA Road in Baltimore, the property is near shopping, dining, and major roadways. The offering spans three tax IDs and is being sold as-is, with zoning verification to be completed by the buyer.
Located at 3417 E JOPPA Road in Baltimore, the property is near shopping, dining, and major roadways. The offering spans three tax IDs and is being sold as-is, with zoning verification to be completed by the buyer.
Key Highlights
- Two separate houses across 2.21 acres and three tax IDs
- Primary residence includes 3 bedrooms, 2 full baths, and finished lower‑level space
- Second home offers 2 bedrooms and 1 full bath
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
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
258
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer flexible living arrangements across a spacious Baltimore County property with substantial outdoor area.
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 across 2.21 acres and three tax IDs; Primary residence includes 3 bedrooms, 2 full baths, and finished lower‑level space; Second home offers 2 bedrooms and 1 full bath
