Residential Condominium with Water
For Sale
$199,900
414 WATER STREET Unit 2012, Baltimore, MD 21202
Two bedrooms sit on opposite sides of the residence, with a separate full bath and laundry near the second bedroom.
Property Size1,089 SF
Days on Market21
Property Features for 414 WATER STREET Unit 2012
General Information
Standard status
Active
Size
1,089 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,224
Building Details
Building Size
1,089 SF
Year Built
2008
Listing Agency:
Cummings & Co. Realtors
Listed By:
Kari A Walling · License #0645020
(443) 345-0377
Source:
Thehulsmangroup
Added: Sep 22
Changed: Oct 3
Last Checked: Oct 11 at 12:34PM
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.
Built in 2008, this two-bedroom, two-bath condominium has an open living and dining area, updated bathrooms, and newer flooring. The primary bedroom includes a private custom bathroom and walk-in closet. The second bedroom is positioned across the residence and has access to the hall bathroom and laundry. Views take in Baltimore’s skyline and waterfront.
The condominium is in downtown Baltimore, near the Inner Harbor, waterfront attractions, restaurants, entertainment, and major transportation routes.
The condominium is in downtown Baltimore, near the Inner Harbor, waterfront attractions, restaurants, entertainment, and major transportation routes.
Key Highlights
- Two bedrooms and two bathrooms
- Views of Baltimore’s skyline and waterfront
- Updated bathrooms and newer flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,188
Cap Rate
7.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$283,760
$283.8K
Cap Rate 7%
$202,686
$202.7K
Cap Rate 9%
$157,644
$157.6K
Market Conditions
NOI Build-Up for 1,089 SF
Gross rent
$27.4K $25.20/SF
− Vacancy
−$1.6K −$1.51/SF
EGI
$25.8K $23.69/SF
− OpEx
−$11.6K −$10.66/SF
NOI
$14.2K $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%
$283,760
Cap Rate 7%
$202,686
Cap Rate 9%
$157,644
Alternative Uses
Best Use
Apartment 5plus
$202.7K
$177.4K – $236.5K
NOI $14,188 @ 7.0% cap · market cap 7.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$260.9K
$228.3K – $304.4K
NOI $18,263 @ 7.0% cap · market cap 9.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
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 - Two bedrooms sit on opposite sides of the residence, with a separate full bath and laundry near the second bedroom.
Where is this residential income property located?
The property is located at 414 WATER STREET Unit 2012 Baltimore, MD.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Two bedrooms and two bathrooms; Views of Baltimore’s skyline and waterfront; Updated bathrooms and newer flooring
