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    Renovated Duplex Near Patterson Park Title is generated by Realmo AI

    400 N PATTERSON PARK Avenue, Baltimore, MD 21231

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    For Sale
    $549,900

    MULTI_FAMILY - Federal - BALTIMORE, MD

    Property size:
    2,929 SF
    Price / SF:
    $187/SF
    Added:
    May 29, 2026
    Days on Market:
    2
    Last Refresh:
    May 30 at 3:06 pm

    Property Features for 400 N PATTERSON PARK Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Rooms
    Basement
    Interior features
    2nd Kitchen, Bathroom - Tub Shower, Bathroom - Walk-In Shower, Kitchen - Gourmet, Primary Bath(s), Upgraded Countertops, Wood Floors
    Appliances
    Oven/Range - Electric, Refrigerator, Stainless Steel Appliances, Dishwasher, Microwave, Disposal, Dryer, Washer
    Standard status
    Active
    Size
    2,929 SF

    Taxes and HOA fees

    Tax Annual Amount
    13483

    Utilities

    Heating system
    Heat Pump (Heating)
    Cooling system
    Ceiling Fan(s), Central Air

    Building Details

    Year built
    1910
    Number of units
    2
    Building materials
    Brick
    Architectural style
    Federal

    We can help!

    Listing Contact
    Christopher J Cooke

    Listing agent Christopher J Cooke License #596183

    Listing office Berkshire Hathaway HomeServices Homesale Realty 3500 Boston Street unit: Suite C, Lancaster, MD

    Listing date May 29, 2026

    MLS# MDBA2214298 Listing URL

    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.

    HighLights

    • Fully renovated duplex featuring two spacious 3‑bedroom, 3.5‑bath units with over 2,800 sq. ft. of living space.
    • Exceptional income‑producing potential with separately metered units, near Johns Hopkins Hospital and Patterson Park.
    • Modern gourmet kitchens boast Quartz countertops, stainless steel appliances, and custom cabinetry.
    • Brand‑new roof, windows, HVAC systems, plumbing, and electrical systems ensure minimal maintenance.
    • Thoughtfully designed floor plans offer generously sized bedrooms on separate levels for privacy.
    • Turnkey property in a sought‑after location with wood flooring throughout and abundant natural light.

    Overview

    This renovated duplex in Baltimore, MD, offers over 2,800 sq. ft. of finished living space with income-producing potential. The multifamily property features two 3-bedroom, 3.5-bath units, each designed with modern finishes, spacious layouts, and natural light. Both units are separately metered and include wood flooring, gourmet kitchens with Quartz countertops, stainless steel appliances, and custom cabinetry. The floor plans offer generously sized bedrooms on separate levels. Updates include a new roof, windows, HVAC systems, plumbing, and electrical. Located near Patterson Park and in proximity to Johns Hopkins Hospital and Medical Campus, this property offers rental appeal for medical students, residents, traveling nurses, and healthcare professionals. The property is located in Baltimore City, MD, with a total size of 2,929 square feet.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $65.0k $22.20
    − Vacancy −$3.6k −$1.22
    EGI $61.4k $20.98
    − OpEx −$18.4k −$6.29
    NOI $43.0k $14.69
    2,929 SF · lease $22.20/SF/yr · vacancy 5.50% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $614.5K
    $537.7K – $716.9K (±1% cap)
    NOI $43,013 @ 7.0% cap · market cap 7.82%
    Second Best
    Apartment 5plus
    $545.1K
    $477.0K – $636.0K (±1% cap)
    NOI $38,160 @ 7.0% cap · market cap 6.94%
    Theoretical Best
    Office A
    $701.7K
    $614.0K – $818.7K (±1% cap)
    NOI $49,119 @ 7.0% cap · market cap 8.93%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Baltimore
    County
    Baltimore
    State
    Maryland
    Longitude
    -76.58518
    Latitude
    39.29561

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    FAQs

    What type of property is this?
    Duplex - Fully renovated duplex with income potential near Patterson Park.
    Where is this duplex located?
    The property is located at 400 N PATTERSON PARK Avenue Baltimore, MD.
    What is the asking price?
    The asking price for this property is $549,900.
    What are key features of this property?
    This property features: Fully renovated duplex featuring two spacious 3‑bedroom, 3.5‑bath units with over 2,800 sq. ft. of living space.; Exceptional income‑producing potential with separately metered units, near Johns Hopkins Hospital and Patterson Park.; Modern gourmet kitchens boast Quartz countertops, stainless steel appliances, and custom cabinetry.
    (443) 802-2728
    We can help!
    Listing Contact
    Christopher J Cooke
    Real Estate License ID: 596183
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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