Top-Floor Residential Income
For Sale
$129,500
4000 N CHARLES STREET N Unit 1605, Baltimore, MD 21218
One-bedroom, one-bath condominium with updated interiors, furnished contents available by buyer preference, and western sunset views.
Property Size788 SF
Days on Market348
Property Features for 4000 N CHARLES STREET N Unit 1605
General Information
Standard status
Active
Size
788 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,700
Amenities
doorman
24-hour front desk
on-site management
pool
fitness center
party room
storage unit
Building Details
Building Size
788 SF
Year Built
1964
Listing Agency:
Monument Sotheby's International Realty
(410) 419-4321
Listed By:
P. Kenerick Maher · License #502482
(410) 419-4321
Source:
Thehulsmangroup
Added: Sep 10, 2025
Changed: Aug 21
Last Checked: Aug 22 at 11:26AM
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 top-floor, one-bedroom, one-bath condominium at The Highfield House combines original architectural character with selected interior updates. The full bath has refreshed tile and fixtures, while the kitchen retains its original elements alongside modern improvements. Furnishings may remain or be removed, and the washer and dryer convey as-is. A storage unit and ample closet space provide additional utility.
Designed by Ludwig Mies van der Rohe, the 1964 building is listed on the National Register of Historic Places. Building services include a doorman, 24-hour front desk, on-site management and maintenance, a pool, fitness center, and party room. The condominium fee covers heat, A/C, gas, and hot water. Optional parking is available for a monthly fee. The property is near Johns Hopkins University, the Baltimore Museum of Art, Loyola University Maryland, Union Memorial Hospital, local shops, cafes, and Sherwood Gardens. Rentals are not permitted at The Highfield House.
Designed by Ludwig Mies van der Rohe, the 1964 building is listed on the National Register of Historic Places. Building services include a doorman, 24-hour front desk, on-site management and maintenance, a pool, fitness center, and party room. The condominium fee covers heat, A/C, gas, and hot water. Optional parking is available for a monthly fee. The property is near Johns Hopkins University, the Baltimore Museum of Art, Loyola University Maryland, Union Memorial Hospital, local shops, cafes, and Sherwood Gardens. Rentals are not permitted at The Highfield House.
Key Highlights
- Top‑floor one‑bedroom, one‑bath condominium
- Western‑facing sunset views over Tuscany‑Canterbury
- Designed by Ludwig Mies van der Rohe; listed on the National Register of Historic Places
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
$9,142
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
7.06%
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%
$182,840
$182.8K
Cap Rate 7%
$130,600
$130.6K
Cap Rate 9%
$101,578
$101.6K
Market Conditions
NOI Build-Up for 788 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
$17.8K $22.56/SF
− Vacancy
−$1.2K −$1.47/SF
EGI
$16.6K $21.09/SF
− OpEx
−$7.5K −$9.49/SF
NOI
$9.1K $11.60/SF
Area
ZIP 21218
Vacancy
6.50%
Lease Rate
$22.56 /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%
$182,840
Cap Rate 7%
$130,600
Cap Rate 9%
$101,578
Alternative Uses
Best Use
Apartment 5plus
$130.6K
$114.3K – $152.4K
NOI $9,142 @ 7.0% cap · market cap 7.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$214.2K
$187.5K – $250.0K
NOI $14,997 @ 7.0% cap · market cap 11.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
835
Businesses Nearby
Explore this area
Business Placement
Demographics for 21218, MD
46,238
Population
21,751
Households
2.1
Avg Household Size
34
Median Age
44%
College-Educated
90%
High-School Grad
4.3 sq mi
ZIP Area
10,753
Density / Sq Mi
$58,378
Median Household Income
$38,316
Median Earnings
$1,239
Median Rent
$229,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom, one-bath condominium with updated interiors, furnished contents available by buyer preference, and western sunset views.
Where is this residential income property located?
The property is located at 4000 N CHARLES STREET N Unit 1605 Baltimore, MD.
What is the asking price?
The asking price for this property is $129,500.
What are key features of this property?
This property features: Top‑floor one‑bedroom, one‑bath condominium; Western‑facing sunset views over Tuscany‑Canterbury; Designed by Ludwig Mies van der Rohe; listed on the National Register of Historic Places
