One-Bedroom Residential Income
For Sale
$137,000
4000 N CHARLES STREET Unit 404, Baltimore, MD 21218
East-facing apartment in a full-service building with 24-hour front-desk coverage and included utilities and storage.
Property Size911 SF
Days on Market187
Property Features for 4000 N CHARLES STREET Unit 404
General Information
Standard status
Active
Size
911 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 1BR
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,299
Amenities
24-hour front desk
extra storage
Building Details
Building Size
911 SF
Year Built
1964
Stories
15
Construction
mid-century modernist
Listing Agency:
Monument Sotheby's International Realty
(443) 226-6362
Listed By:
Jeffrey A Nelson · License #596429
(443) 226-6362
Source:
Thehulsmangroup
Added: Feb 17
Changed: Aug 21
Last Checked: Aug 22 at 11:31AM
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.
Unit 404 is an east-facing, one-bedroom residence with more than 900 square feet in Highfield House, a 15-story building completed in 1964. Designed by Ludwig Mies van der Rohe, the structure features concrete columns, a two-story glass lobby, and a distinctive modernist architectural profile. The residence includes extra storage, while heat, air conditioning, cooking gas, and hot water are covered through the monthly building fee.
Building services include a 24-hour front desk. The property is located near Johns Hopkins University, Union Memorial Hospital, Penn Station, shops, and restaurants in Baltimore’s 21218 ZIP code.
Building services include a 24-hour front desk. The property is located near Johns Hopkins University, Union Memorial Hospital, Penn Station, shops, and restaurants in Baltimore’s 21218 ZIP code.
Key Highlights
- More than 900 square feet with an east‑facing orientation
- One‑bedroom residence in Highfield House, a 15‑story building completed in 1964
- Designed by Ludwig Mies van der Rohe
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
$10,569
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
7.71%
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%
$211,380
$211.4K
Cap Rate 7%
$150,986
$151.0K
Cap Rate 9%
$117,433
$117.4K
Market Conditions
NOI Build-Up for 911 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
$20.6K $22.56/SF
− Vacancy
−$1.3K −$1.47/SF
EGI
$19.2K $21.09/SF
− OpEx
−$8.6K −$9.49/SF
NOI
$10.6K $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%
$211,380
Cap Rate 7%
$150,986
Cap Rate 9%
$117,433
Alternative Uses
Best Use
Apartment 5plus
$151.0K
$132.1K – $176.2K
NOI $10,569 @ 7.0% cap · market cap 7.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$247.7K
$216.7K – $289.0K
NOI $17,338 @ 7.0% cap · market cap 12.66%
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 - East-facing apartment in a full-service building with 24-hour front-desk coverage and included utilities and storage.
Where is this residential income property located?
The property is located at 4000 N CHARLES STREET Unit 404 Baltimore, MD.
What is the asking price?
The asking price for this property is $137,000.
What are key features of this property?
This property features: More than 900 square feet with an east‑facing orientation; One‑bedroom residence in Highfield House, a 15‑story building completed in 1964; Designed by Ludwig Mies van der Rohe
