Residential Income Property with Harbor
For Sale
$165,000
414 WATER STREET Unit 1705, Baltimore, MD 21202
Two-bedroom condominium with updated kitchen, private storage, garage parking, and access to shared building amenities.
Property Size789 SF
Days on Market44
Property Features for 414 WATER STREET Unit 1705
General Information
Standard status
Active
Size
789 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,816
Amenities
outdoor swimming pool
lounge and meeting area
business center
private storage room
in-unit washer/dryer
Building Details
Building Size
789 SF
Year Built
2007
Listing Agency:
Century 21 Advance Realty
Listed By:
Patrick W Campbell · License #607244
(410) 688-3117
Source:
Thehulsmangroup
Added: Aug 24
Changed: Oct 3
Last Checked: Oct 5 at 11:29PM
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 Century 21 Advance Realty
Investment Insights
Based on property information with market context.
This residential income property is a two-bedroom, one-bath condominium in a 2007 building. The interior includes an updated kitchen, a spacious living room, and an in-unit washer and dryer. Views extend toward Federal Hill and Baltimore’s stadiums, while a private storage room on the same floor provides additional space. Only four units on the floor have private storage rooms.
The property includes parking in the adjacent parking garage and access to an outdoor swimming pool, lounge and meeting area, and business center. It is located in Baltimore’s Inner Harbor near Power Plant Live!, the National Aquarium, museums, Port Discovery, shopping, dining, and entertainment. The Johns Hopkins and University of Maryland medical campuses are also readily accessible.
The property includes parking in the adjacent parking garage and access to an outdoor swimming pool, lounge and meeting area, and business center. It is located in Baltimore’s Inner Harbor near Power Plant Live!, the National Aquarium, museums, Port Discovery, shopping, dining, and entertainment. The Johns Hopkins and University of Maryland medical campuses are also readily accessible.
Key Highlights
- Two‑bedroom, one‑bath condominium in a 2007 building
- Updated kitchen and in‑unit washer and dryer
- Views of Federal Hill and Baltimore’s stadiums
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,279
Cap Rate
6.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$205,580
$205.6K
Cap Rate 7%
$146,843
$146.8K
Cap Rate 9%
$114,211
$114.2K
Market Conditions
NOI Build-Up for 789 SF
Gross rent
$19.9K $25.20/SF
− Vacancy
−$1.2K −$1.51/SF
EGI
$18.7K $23.69/SF
− OpEx
−$8.4K −$10.66/SF
NOI
$10.3K $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%
$205,580
Cap Rate 7%
$146,843
Cap Rate 9%
$114,211
Alternative Uses
Best Use
Apartment 5plus
$146.8K
$128.5K – $171.3K
NOI $10,279 @ 7.0% cap · market cap 6.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$189.0K
$165.4K – $220.5K
NOI $13,232 @ 7.0% cap · market cap 8.02%
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-bedroom condominium with updated kitchen, private storage, garage parking, and access to shared building amenities.
Where is this residential income property located?
The property is located at 414 WATER STREET Unit 1705 Baltimore, MD.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: Two‑bedroom, one‑bath condominium in a 2007 building; Updated kitchen and in‑unit washer and dryer; Views of Federal Hill and Baltimore’s stadiums
