One-Bedroom Residential Income
For Sale
$104,900
Pending
414 WATER STREET Unit 2411, Baltimore, MD 21202
High-rise condominium with a balcony, gas fireplace, garage parking, and access to shared fitness and pool amenities.
Property Size637 SF
Days on Market60
Property Features for 414 WATER STREET Unit 2411
General Information
Standard status
Pending
Size
637 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,310
Amenities
24 hour front desk staff
fitness center
outdoor swimming pool
Building Details
Building Size
637 SF
Year Built
2008
Listing Agency:
Redfin Corp
Listed By:
Zachary M. Pencarski
(443) 602-2047
Source:
Thehulsmangroup
Added: Aug 14
Changed: Oct 3
Last Checked: Oct 11 at 11:27AM
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 Redfin Corp
Investment Insights
Based on property information with market context.
This residential income property is a one-bedroom, one-bath condominium in a high-rise building constructed in 2008. The interior includes a combined living and dining area with a gas fireplace and balcony, along with a kitchen equipped with stainless steel appliances, a gas range, granite countertops, maple cabinetry, and a breakfast bar. Luxury vinyl plank flooring is installed in the living and dining area and bedroom.
Building amenities include 24-hour front desk service, a fitness center, and an outdoor swimming pool. Garage parking is included, adding a practical feature for residents and guests.
Building amenities include 24-hour front desk service, a fitness center, and an outdoor swimming pool. Garage parking is included, adding a practical feature for residents and guests.
Key Highlights
- One‑bedroom, one‑bath condominium in a high‑rise building
- Constructed in 2008
- Balcony and gas fireplace in the combined living and dining area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,299
Cap Rate
7.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$165,980
$166.0K
Cap Rate 7%
$118,557
$118.6K
Cap Rate 9%
$92,211
$92.2K
Market Conditions
NOI Build-Up for 637 SF
Gross rent
$16.1K $25.20/SF
− Vacancy
−$963 −$1.51/SF
EGI
$15.1K $23.69/SF
− OpEx
−$6.8K −$10.66/SF
NOI
$8.3K $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%
$165,980
Cap Rate 7%
$118,557
Cap Rate 9%
$92,211
Alternative Uses
Best Use
Apartment 5plus
$118.6K
$103.7K – $138.3K
NOI $8,299 @ 7.0% cap · market cap 7.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$152.6K
$133.5K – $178.1K
NOI $10,683 @ 7.0% cap · market cap 10.18%
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 - High-rise condominium with a balcony, gas fireplace, garage parking, and access to shared fitness and pool amenities.
Where is this residential income property located?
The property is located at 414 WATER STREET Unit 2411 Baltimore, MD.
What is the asking price?
The asking price for this property is $104,900.
What are key features of this property?
This property features: One‑bedroom, one‑bath condominium in a high‑rise building; Constructed in 2008; Balcony and gas fireplace in the combined living and dining area
