Updated Gated Residential Income
For Sale
$185,000
351 HOMELAND SOUTHWAY #1D, Baltimore, MD 21212
Two-bedroom condominium with refreshed interiors, community amenities, and access to on-site storage and laundry facilities.
Property Size1,091 SF
Price / SF$169.57
Days on Market26
Property Features for 351 HOMELAND SOUTHWAY #1D
General Information
Standard status
Active
Size
1,091 SF
Property subtype
Apartment
Additional Details
Highway Access
Yes
Multifamily Units
1
Amenities
walking paths
clubhouse
sauna
community pool
EV charging stations
gated community
laundry facilities
storage
Building Details
Year Built
1970
Listing Agency:
Monument Sotheby's International Realty
(443) 906-3840
Listed By:
Regina Trakhtman
(443) 472-8556
Source:
Cummingsrealtors
Added: Sep 11
Changed: Oct 4
Last Checked: Oct 5 at 6:48PM
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 Monument Sotheby's International Realty
Investment Insights
Based on property information with market context.
This two-bedroom, one-and-a-half-bath condominium at 351 Homeland Southway #1D features freshly painted interiors, granite kitchen countertops, a refrigerator and gas stove, updated kitchen flooring, and newer windows. Additional storage and laundry facilities are located just outside the unit.
The gated Villages of Homeland community includes walking paths, a clubhouse with sauna, a swimming pool, and multiple EV charging stations. The condominium fee includes water and gas. Each unit is permitted two parking spaces. The property was built in 1970 and is near shopping, dining, Morgan State University, Loyola University Maryland, Notre Dame of Maryland University, and Johns Hopkins University, with access to I-695 and I-95.
The gated Villages of Homeland community includes walking paths, a clubhouse with sauna, a swimming pool, and multiple EV charging stations. The condominium fee includes water and gas. Each unit is permitted two parking spaces. The property was built in 1970 and is near shopping, dining, Morgan State University, Loyola University Maryland, Notre Dame of Maryland University, and Johns Hopkins University, with access to I-695 and I-95.
Key Highlights
- Two‑bedroom, one‑and‑a‑half‑bath condominium
- Fresh paint, granite countertops, updated kitchen flooring, and newer windows
- Gated community with pool, clubhouse, sauna, and walking paths
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,214
Cap Rate
7.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$284,280
$284.3K
Cap Rate 7%
$203,057
$203.1K
Cap Rate 9%
$157,933
$157.9K
Market Conditions
NOI Build-Up for 1,091 SF
Gross rent
$27.5K $25.20/SF
− Vacancy
−$1.6K −$1.51/SF
EGI
$25.8K $23.69/SF
− OpEx
−$11.6K −$10.66/SF
NOI
$14.2K $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 Rate 5%
$284,280
Cap Rate 7%
$203,057
Cap Rate 9%
$157,933
Alternative Uses
Best Use
Apartment 5plus
$203.1K
$177.7K – $236.9K
NOI $14,214 @ 7.0% cap · market cap 7.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$261.4K
$228.7K – $304.9K
NOI $18,296 @ 7.0% cap · market cap 9.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
767
Businesses Nearby
Explore this area
Business Placement
Demographics for 21212, MD
32,317
Population
13,749
Households
2.4
Avg Household Size
39
Median Age
55%
College-Educated
91%
High-School Grad
4.6 sq mi
ZIP Area
7,025
Density / Sq Mi
$96,752
Median Household Income
$57,600
Median Earnings
$1,328
Median Rent
$357,900
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condominium with refreshed interiors, community amenities, and access to on-site storage and laundry facilities.
Where is this residential income property located?
The property is located at 351 HOMELAND SOUTHWAY #1D Baltimore, MD.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: Two‑bedroom, one‑and‑a‑half‑bath condominium; Fresh paint, granite countertops, updated kitchen flooring, and newer windows; Gated community with pool, clubhouse, sauna, and walking paths
