Renovated Two-Unit
For Sale
$499,900
400 N Patterson Park Ave, Baltimore, MD 21231
Two separately metered units offer updated finishes and flexible multi-level layouts.
Property Size2,929 SF
Price / SF$170.67
Days on Market53
Property Features for 400 N Patterson Park Ave
General Information
Standard status
Active
Size
2,929 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/3.5BA
Multifamily Units
2
Building Details
Year Built
1910
Buildings
1
Listing Agency:
Berkshire Hathaway HomeServices Homesale Realty
Listed By:
Christopher J Cooke · License #596183
(443) 802-2728
Source:
Hargreaveshomesales
Added: Aug 15
Changed: Oct 3
Last Checked: Oct 5 at 9:17PM
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 Berkshire Hathaway HomeServices Homesale Realty
Investment Insights
Based on property information with market context.
This fully renovated duplex contains 2,929 square feet of finished space across two three-bedroom, 3.5-bath residences. Each unit features wood flooring, quartz countertops, stainless steel appliances, custom cabinetry, upgraded fixtures, and bedrooms arranged across separate levels. Oversized windows bring natural light into the interiors, while separate electric metering supports independent operation. Major improvements include a new roof, windows, HVAC systems, plumbing, and electrical service.
The property is located at 400 N Patterson Park Avenue in Baltimore, near Patterson Park and Johns Hopkins Hospital and Medical Campus. Its R-8 zoning and two-unit configuration support residential income use, with layouts suited to roommate, guest, or multigenerational arrangements.
The property is located at 400 N Patterson Park Avenue in Baltimore, near Patterson Park and Johns Hopkins Hospital and Medical Campus. Its R-8 zoning and two-unit configuration support residential income use, with layouts suited to roommate, guest, or multigenerational arrangements.
Key Highlights
- 2,929 SF duplex with two 3‑bedroom, 3.5‑bath units
- R‑8 zoning
- Separate electric metering for each residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,013
Cap Rate
8.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$860,260
$860.3K
Cap Rate 7%
$614,471
$614.5K
Cap Rate 9%
$477,922
$477.9K
Market Conditions
NOI Build-Up for 2,929 SF
Gross rent
$65.0K $22.20/SF
− Vacancy
−$3.6K −$1.22/SF
EGI
$61.4K $20.98/SF
− OpEx
−$18.4K −$6.29/SF
NOI
$43.0K $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 Rate 5%
$860,260
Cap Rate 7%
$614,471
Cap Rate 9%
$477,922
Alternative Uses
Best Use
Multifamily LT 5
$614.5K
$537.7K – $716.9K
NOI $43,013 @ 7.0% cap · market cap 8.60%
Second Best
Apartment 5plus
$545.1K
$477.0K – $636.0K
NOI $38,160 @ 7.0% cap · market cap 7.63%
Theoretical Best
Office A
$701.7K
$614.0K – $818.7K
NOI $49,119 @ 7.0% cap · market cap 9.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,589
Businesses Nearby
Explore this area
Business Placement
Demographics for 21231, MD
17,062
Population
9,342
Households
1.8
Avg Household Size
33
Median Age
66%
College-Educated
95%
High-School Grad
0.9 sq mi
ZIP Area
18,958
Density / Sq Mi
$85,382
Median Household Income
$67,289
Median Earnings
$1,710
Median Rent
$336,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately metered units offer updated finishes and flexible multi-level layouts.
Where is this duplex located?
The property is located at 400 N Patterson Park Ave Baltimore, MD.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 2,929 SF duplex with two 3‑bedroom, 3.5‑bath units; R‑8 zoning; Separate electric metering for each residence
