Listing Agency: Samson Properties Show Phone

Listed By: Harold A Kelly · License #643252 Show Phone

Source: Towncentermd

Added: Oct 12 Changed: Oct 13 Last Checked: Oct 14 at 10:57PM

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Investment Insights

Based on property information with market context.

This 2,010-square-foot duplex contains two updated apartments, each with two bedrooms and one bathroom. Both units feature hardwood floors, generous room sizes, natural light, and a living area that connects with the dining space and kitchen. The kitchens offer cabinetry and storage, and the property includes outdoor space suitable for gardening or recreation.

Bus stops, shopping complexes, universities, Druid Hill Park, the Maryland Zoo, Reisterstown Road Plaza, and Downtown Baltimore are among the cited nearby destinations.

Key Highlights

• Two apartments, each with 2 bedrooms and 1 bathroom
• 2,010 square feet across the duplex
• Updated units with hardwood flooring and abundant natural light

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$25,953

Cap Rate

8.95%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$519,060 $519.1K

Cap Rate 7%

$370,757 $370.8K

Cap Rate 9%

$288,367 $288.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,010 SF

Gross rent

$39.8K $19.80/SF

− Vacancy

−$2.7K −$1.35/SF

EGI

$37.1K $18.45/SF

− OpEx

−$11.1K −$5.53/SF

NOI

$26.0K $12.91/SF

Area

ZIP 21215

Vacancy

6.84%

Lease Rate

$19.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$519,060

Cap Rate 7%

$370,757

Cap Rate 9%

$288,367

Alternative Uses

Best Use

Multifamily LT 5

$370.8K

$324.4K – $432.6K (±1% cap)

NOI $25,953 @ 7.0% cap · market cap 8.95%

Second Best

Apartment 5plus

$341.2K

$298.5K – $398.1K (±1% cap)

NOI $23,883 @ 7.0% cap · market cap 8.24%

Theoretical Best

Office A

$479.2K

$419.3K – $559.1K (±1% cap)

NOI $33,544 @ 7.0% cap · market cap 11.57%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Skin Care Clinic Law Firm Accounting Firm Acupuncture Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

887

Businesses Nearby

Explore this area Business Placement

Demographics for 21215, MD

54,198

Population

24,876

Households

2.2

Avg Household Size

42

Median Age

25%

College-Educated

84%

High-School Grad

6.8 sq mi

ZIP Area

7,970

Density / Sq Mi

$47,606

Median Household Income

$37,670

Median Earnings

$1,177

Median Rent

$189,900

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Each residence offers two bedrooms, one bath, hardwood flooring, and a living area connected to dining space and kitchen.

Where is this duplex located?

The property is located at 4504 GARRISON BLVD Baltimore, MD.

What is the asking price?

The asking price for this property is $289,900.

What are key features of this property?

This property features: Two apartments, each with 2 bedrooms and 1 bathroom; 2,010 square feet across the duplex; Updated units with hardwood flooring and abundant natural light