High-Floor Residential Income
For Sale
$150,000
414 WATER STREET Unit 1109, Baltimore, MD 21202
Updated condominium residence with harbor views, private terrace, covered parking, and access to extensive building amenities.
Property Size980 SF
Days on Market547
Property Features for 414 WATER STREET Unit 1109
General Information
Standard status
Active
Size
980 SF
Total Parking Spaces
1
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,394
Amenities
outdoor pool
fitness center
24-hour concierge
24-hour security
party room
meeting room
Building Details
Building Size
980 SF
Year Built
2007
Listing Agency:
Keller Williams Flagship
Listed By:
Vincent Principe · License #5006318
(443) 624-4116
Source:
Thehulsmangroup
Added: Apr 14, 2025
Changed: Sep 26
Last Checked: Oct 11 at 10:17AM
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 Keller Williams Flagship
Investment Insights
Based on property information with market context.
This updated two-bedroom, two-bath condominium is positioned on a high floor at 414 Water Street in Baltimore. The residence includes a kitchen with wood cabinetry, granite counters, stainless steel appliances, a gas stove, microwave range hood, and center island seating. A family room opens onto a private terrace with harbor and city views. The primary bedroom has a walk-in closet and en-suite bath, while the second bedroom can serve as guest space or an office. Neutral finishes, flooring installed in 2021, and an HVAC system replaced in 2023 complete the interior improvements.
Building amenities include an outdoor pool, fitness center, 24-hour concierge and security, meeting and party rooms, elevators, and a deeded same-floor storage unit measuring approximately 35 sqft. The property also includes an allocated covered parking space. The Inner Harbor setting provides access to the National Aquarium, museums, restaurants, the farmers’ market, major commuter routes including I-95 and I-83, and BWI Airport.
Building amenities include an outdoor pool, fitness center, 24-hour concierge and security, meeting and party rooms, elevators, and a deeded same-floor storage unit measuring approximately 35 sqft. The property also includes an allocated covered parking space. The Inner Harbor setting provides access to the National Aquarium, museums, restaurants, the farmers’ market, major commuter routes including I-95 and I-83, and BWI Airport.
Key Highlights
- Two‑bedroom, two‑bath condominium with harbor and city views
- Private terrace connected to the family room
- Updated kitchen with granite counters, stainless steel appliances, gas stove, and center island
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,768
Cap Rate
8.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$255,360
$255.4K
Cap Rate 7%
$182,400
$182.4K
Cap Rate 9%
$141,867
$141.9K
Market Conditions
NOI Build-Up for 980 SF
Gross rent
$24.7K $25.20/SF
− Vacancy
−$1.5K −$1.51/SF
EGI
$23.2K $23.69/SF
− OpEx
−$10.4K −$10.66/SF
NOI
$12.8K $13.03/SF
Area
Baltimore, MD
Vacancy
6.00%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$255,360
Cap Rate 7%
$182,400
Cap Rate 9%
$141,867
Alternative Uses
Best Use
Apartment 5plus
$182.4K
$159.6K – $212.8K
NOI $12,768 @ 7.0% cap · market cap 8.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$234.8K
$205.4K – $273.9K
NOI $16,435 @ 7.0% cap · market cap 10.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
8,766
Businesses Nearby
Explore this area
Business Placement
Demographics for 21202, MD
22,247
Population
12,731
Households
1.7
Avg Household Size
33
Median Age
48%
College-Educated
86%
High-School Grad
1.6 sq mi
ZIP Area
13,904
Density / Sq Mi
$61,578
Median Household Income
$53,609
Median Earnings
$1,497
Median Rent
$307,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated condominium residence with harbor views, private terrace, covered parking, and access to extensive building amenities.
Where is this residential income property located?
The property is located at 414 WATER STREET Unit 1109 Baltimore, MD.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath condominium with harbor and city views; Private terrace connected to the family room; Updated kitchen with granite counters, stainless steel appliances, gas stove, and center island
