Residential Income Property with
For Sale
$349,000
4100 N CHARLES STREET Unit 805, Baltimore, MD 21218
Eighth-floor condominium with deeded parking, updated finishes, and access to full-service building amenities.
Property Size1,383 SF
Days on Market8
Property Features for 4100 N CHARLES STREET Unit 805
General Information
Standard status
Active
Size
1,383 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$6,912
Amenities
exercise room
guest suites
party room
outdoor pool
private balcony
Building Details
Building Size
1,383 SF
Year Built
1977
Listing Agency:
Cummings & Co. Realtors
(410) 303-2400
Listed By:
John F Spurrier · License #529035
(410) 303-2400
Source:
Thehulsmangroup
Added: Aug 15
Changed: Aug 20
Last Checked: Aug 22 at 12:01PM
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 Cummings & Co. Realtors
Investment Insights
Based on property information with market context.
This eighth-floor condominium at Winthrop House includes two bedrooms, two bathrooms, and a deeded parking space. Floor-to-ceiling windows provide southwest exposure, while a private balcony overlooks the outdoor pool. The primary bedroom has a tile bathroom with a double-sink vanity, walk-in shower, and walk-in closet. An updated kitchen features stainless steel appliances, granite countertops, a tile backsplash, ceramic tile flooring, and substantial cabinet storage.
The professionally managed building offers an exercise room, guest suites, and a party room with a kitchen and fireplace. The monthly condominium fee covers heat, air conditioning, electricity, and water. The property was built in 1977 and is near Johns Hopkins, Loyola, and Notre Dame Universities, Union Memorial Hospital, the Baltimore Museum of Art, Sherwood Gardens, the Stony Run Trail, The Rotunda, and retail and dining in Charles Village, Hampden, and Roland Park.
The professionally managed building offers an exercise room, guest suites, and a party room with a kitchen and fireplace. The monthly condominium fee covers heat, air conditioning, electricity, and water. The property was built in 1977 and is near Johns Hopkins, Loyola, and Notre Dame Universities, Union Memorial Hospital, the Baltimore Museum of Art, Sherwood Gardens, the Stony Run Trail, The Rotunda, and retail and dining in Charles Village, Hampden, and Roland Park.
Key Highlights
- Two‑bedroom, two‑bathroom condominium on the 8th floor
- Deeded parking space P128 included
- Floor‑to‑ceiling windows with southwest exposure
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
$16,045
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
4.60%
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%
$320,900
$320.9K
Cap Rate 7%
$229,214
$229.2K
Cap Rate 9%
$178,278
$178.3K
Market Conditions
NOI Build-Up for 1,383 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
$31.2K $22.56/SF
− Vacancy
−$2.0K −$1.47/SF
EGI
$29.2K $21.09/SF
− OpEx
−$13.1K −$9.49/SF
NOI
$16.0K $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%
$320,900
Cap Rate 7%
$229,214
Cap Rate 9%
$178,278
Alternative Uses
Best Use
Apartment 5plus
$229.2K
$200.6K – $267.4K
NOI $16,045 @ 7.0% cap · market cap 4.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$376.0K
$329.0K – $438.7K
NOI $26,321 @ 7.0% cap · market cap 7.54%
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 - Eighth-floor condominium with deeded parking, updated finishes, and access to full-service building amenities.
Where is this residential income property located?
The property is located at 4100 N CHARLES STREET Unit 805 Baltimore, MD.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bathroom condominium on the 8th floor; Deeded parking space P128 included; Floor‑to‑ceiling windows with southwest exposure
