Two-Bedroom Residential Income
353 HOMELAND SOUTHWAY #2C, Baltimore, MD 21212
For Sale
$205,000
BALTIMORE, MD
Property Size1,043 SF
Price / SF$196.55
Days on Market29
Property Features for 353 HOMELAND SOUTHWAY #2C
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Half bathrooms
Rooms
Subdivision
Elementary school district
Middle school district
High school district
Standard status
Amenities
community pool
fitness center
off-street parking
gated community
on-site laundry
central air
Building Details
Year built
Listing Agency:
Baltimore Regional Center
(410) 583-9400
Listed By:
Bob Simon · License MD #590634
Added: Oct 14
Changed: Oct 21
Last Checked: Nov 11 at 3:06AM
MLS# MDBA2234708
Copyright © 2026 Long & Foster Real Estate. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1,043-square-foot condominium has two bedrooms and one and a half bathrooms, with hardwood flooring throughout. The unit also includes central air, closet storage, and a kitchen. Built in 1955, it is located within a gated residential community that offers a pool, fitness center, off-street parking, and on-site laundry.
Loyola University is directly adjacent to the community. The property is in Baltimore, Maryland.
Loyola University is directly adjacent to the community. The property is in Baltimore, Maryland.
Key Highlights
- 1,043‑square‑foot condo with two bedrooms and one and a half bathrooms
- Hardwood flooring throughout the unit
- Central air and a fully equipped kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,589
Cap Rate
6.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$271,780
$271.8K
Cap Rate 7%
$194,129
$194.1K
Cap Rate 9%
$150,989
$151.0K
Market Conditions
NOI Build-Up for 1,043 SF
Gross rent
$26.3K $25.20/SF
− Vacancy
−$1.6K −$1.51/SF
EGI
$24.7K $23.69/SF
− OpEx
−$11.1K −$10.66/SF
NOI
$13.6K $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%
$271,780
Cap Rate 7%
$194,129
Cap Rate 9%
$150,989
Alternative Uses
Best Use
Apartment 5plus
$194.1K
$169.9K – $226.5K
NOI $13,589 @ 7.0% cap · market cap 6.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$249.9K
$218.6K – $291.5K
NOI $17,491 @ 7.0% cap · market cap 8.53%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
744
Businesses Nearby
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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
$357,900
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in Baltimore, MD
Properties on Market for Residential income properties in Baltimore
Frequently Asked Questions
What type of property is this?
Residential income property - The unit includes central air, hardwood floors, and access to community laundry and shared amenities.
Where is this residential income property located?
The property is located at 353 HOMELAND SOUTHWAY #2C Baltimore, MD.
What is the asking price?
The asking price for this property is $205,000.
What are key features of this property?
This property features: 1,043‑square‑foot condo with two bedrooms and one and a half bathrooms; Hardwood flooring throughout the unit; Central air and a fully equipped kitchen
