Upgraded Two-Unit Brick
For Sale
$216,000
Pending
3714 W MULBERRY STREET W, Baltimore, MD 21229
Vacant property with separate utilities, basement laundry, and gated outdoor space.
Property Size1,470 SF
Days on Market126
Property Features for 3714 W MULBERRY STREET W
General Information
Standard status
Pending
Size
1,470 SF
Property subtype
Duplex
Units
Unit Mix
2BR, 2BR
Multifamily Units
2
Additional Details
Furnished
No
Average Monthly Rent
$1,400
Taxes and HOA fees
Annual Taxes
$1,384
Amenities
Basement
Laundry
Gated Backyard
Building Details
Building Size
1,470 SF
Year Built
1950
Buildings
1
Construction
Brick
Tenancy
Vacant
Listing Agency:
Samson Properties
(410) 417-7272
Listed By:
Billie C Quinn · License #681571
(410) 417-7272
Source:
Thehulsmangroup
Added: Apr 20
Changed: Aug 21
Last Checked: Aug 22 at 11:27AM
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 Samson Properties
Investment Insights
Based on property information with market context.
This all-brick semi-detached duplex contains two upgraded two-bedroom residences. Improvements include refreshed kitchens, updated bathrooms, and new carpeting. Each unit is supported by its own heating system, water heater, and utility meters, providing distinct service arrangements for the residences.
A shared basement is reached by a separate staircase and includes laundry facilities. The property also offers a large gated backyard with access from both the basement and front of the home. Resident parking is provided in a dedicated rear lot, with additional street parking available at the front. Built in 1950, the duplex is currently vacant.
A shared basement is reached by a separate staircase and includes laundry facilities. The property also offers a large gated backyard with access from both the basement and front of the home. Resident parking is provided in a dedicated rear lot, with additional street parking available at the front. Built in 1950, the duplex is currently vacant.
Key Highlights
- Two two‑bedroom units in an all‑brick semi‑detached duplex
- Upgraded kitchens, updated bathrooms, and fresh carpeting
- 2 heating systems, 2 water heaters, and separate meters
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
$19,152
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
8.87%
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%
$383,040
$383.0K
Cap Rate 7%
$273,600
$273.6K
Cap Rate 9%
$212,800
$212.8K
Market Conditions
NOI Build-Up for 1,470 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
$37.0K $25.20/SF
− Vacancy
−$2.2K −$1.51/SF
EGI
$34.8K $23.69/SF
− OpEx
−$15.7K −$10.66/SF
NOI
$19.2K $13.03/SF
Area
ZIP 21229
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 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%
$383,040
Cap Rate 7%
$273,600
Cap Rate 9%
$212,800
Alternative Uses
Best Use
Multifamily LT 5
$296.9K
$259.8K – $346.4K
NOI $20,782 @ 7.0% cap · market cap 9.62%
Second Best
Apartment 5plus
$273.6K
$239.4K – $319.2K
NOI $19,152 @ 7.0% cap · market cap 8.87%
Theoretical Best
Office A
$350.5K
$306.7K – $408.9K
NOI $24,532 @ 7.0% cap · market cap 11.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Vacant-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
408
Businesses Nearby
Explore this area
Business Placement
Demographics for 21229, MD
43,464
Population
20,653
Households
2.1
Avg Household Size
38
Median Age
22%
College-Educated
89%
High-School Grad
5.9 sq mi
ZIP Area
7,367
Density / Sq Mi
$55,457
Median Household Income
$40,627
Median Earnings
$1,210
Median Rent
$184,900
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 - Vacant property with separate utilities, basement laundry, and gated outdoor space.
Where is this duplex located?
The property is located at 3714 W MULBERRY STREET W Baltimore, MD.
What is the asking price?
The asking price for this property is $216,000.
What are key features of this property?
This property features: Two two‑bedroom units in an all‑brick semi‑detached duplex; Upgraded kitchens, updated bathrooms, and fresh carpeting; 2 heating systems, 2 water heaters, and separate meters
