Updated Residential Income
For Sale
$209,000
4000 N CHARLES STREET Unit 1603, Baltimore, MD 21218
High-rise residence with renovated interiors, building services, and access to on-site recreational amenities.
Property Size1,170 SF
Days on Market47
Property Features for 4000 N CHARLES STREET Unit 1603
General Information
Standard status
Active
Size
1,170 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,693
Amenities
pool
24-hour front desk
Building Details
Building Size
1,170 SF
Year Built
1964
Listing Agency:
Monument Sotheby's International Realty
(443) 226-6362
Listed By:
Jeffrey A Nelson · License #596429
(443) 226-6362
Source:
Thehulsmangroup
Added: Jul 7
Changed: Aug 16
Last Checked: Aug 22 at 12:15PM
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 residential income property is a two-bedroom residence within Highfield House, a contemporary high-rise completed in 1964 and listed on the National Register of Historic Landmark Buildings. The interior has been updated with granite kitchen counters, stainless steel appliances, and wood flooring across the main living areas and bedrooms. The primary bedroom includes a private bathroom and a large walk-in closet.
Building services include heat, central air conditioning, cooking gas, water, and hot water through the monthly condominium fee. Residents also have access to a pool and a 24-hour front desk. The property is situated near Johns Hopkins University, Penn Station, and Union Memorial Hospital.
Building services include heat, central air conditioning, cooking gas, water, and hot water through the monthly condominium fee. Residents also have access to a pool and a 24-hour front desk. The property is situated near Johns Hopkins University, Penn Station, and Union Memorial Hospital.
Key Highlights
- Two‑bedroom high‑rise residence at Highfield House
- Updated kitchen with granite counters and stainless steel appliances
- Wood flooring in the main living spaces and bedrooms
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
$13,574
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
6.49%
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%
$271,480
$271.5K
Cap Rate 7%
$193,914
$193.9K
Cap Rate 9%
$150,822
$150.8K
Market Conditions
NOI Build-Up for 1,170 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
$26.4K $22.56/SF
− Vacancy
−$1.7K −$1.47/SF
EGI
$24.7K $21.09/SF
− OpEx
−$11.1K −$9.49/SF
NOI
$13.6K $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%
$271,480
Cap Rate 7%
$193,914
Cap Rate 9%
$150,822
Alternative Uses
Best Use
Apartment 5plus
$193.9K
$169.7K – $226.2K
NOI $13,574 @ 7.0% cap · market cap 6.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$318.1K
$278.3K – $371.1K
NOI $22,267 @ 7.0% cap · market cap 10.65%
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 - High-rise residence with renovated interiors, building services, and access to on-site recreational amenities.
Where is this residential income property located?
The property is located at 4000 N CHARLES STREET Unit 1603 Baltimore, MD.
What is the asking price?
The asking price for this property is $209,000.
What are key features of this property?
This property features: Two‑bedroom high‑rise residence at Highfield House; Updated kitchen with granite counters and stainless steel appliances; Wood flooring in the main living spaces and bedrooms
