Two-Bedroom Residential Income
For Sale
$199,000
Pending
501 W UNIVERSITY PARKWAY Unit B1, Baltimore, MD 21210
Elevated first-floor unit with a private garage space, separate dining room, sunroom, and dedicated storage.
Property Size1,150 SF
Days on Market15
Property Features for 501 W UNIVERSITY PARKWAY Unit B1
General Information
Standard status
Pending
Size
1,150 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Amenities
sunroom
storage units
architecturally unique windows
Building Details
Building Size
1,150 SF
Year Built
1912
Abandoned
No
Listing Agency:
Compass
(443) 643-8678
Listed By:
Manuel Alvarez · License #639528
(443) 643-8678
Source:
Thehulsmangroup
Added: Aug 7
Changed: Aug 12
Last Checked: Aug 11 at 1:02PM
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 Compass
Investment Insights
Based on property information with market context.
Unit B1 at Tudor Arms is an elevated first-floor residence with two bedrooms, 9.5-foot ceilings, architecturally distinctive windows, and a layout that includes a separate dining room and sunroom. The purchase includes one private garage parking space and two large storage units. Tudor Arms dates to 1912 and is identified as Baltimore’s first and largest co-op. The monthly fee includes property taxes, heat, hot water, and building maintenance. The property is adjacent to Wyman Park and near Johns Hopkins University, shops, and restaurants. It is located at 501 W University Parkway in Baltimore, Maryland.
Key Highlights
- Two‑bedroom unit with 9.5‑foot ceilings
- Private garage parking space included
- Two large storage units convey with the purchase
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,983
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.53%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$299,660
$299.7K
Cap Rate 7%
$214,043
$214.0K
Cap Rate 9%
$166,478
$166.5K
Market Conditions
NOI Build-Up for 1,150 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$29.0K $25.20/SF
− Vacancy
−$1.7K −$1.51/SF
EGI
$27.2K $23.69/SF
− OpEx
−$12.3K −$10.66/SF
NOI
$15.0K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$299,660
Cap Rate 7%
$214,043
Cap Rate 9%
$166,478
Alternative Uses
Best Use
Apartment 5plus
$214.0K
$187.3K – $249.7K
NOI $14,983 @ 7.0% cap · market cap 7.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$275.5K
$241.1K – $321.4K
NOI $19,286 @ 7.0% cap · market cap 9.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,272
Businesses Nearby
Explore this area
Business Placement
Demographics for 21210, MD
14,441
Population
5,416
Households
2.7
Avg Household Size
32
Median Age
83%
College-Educated
98%
High-School Grad
3.4 sq mi
ZIP Area
4,247
Density / Sq Mi
$108,929
Median Household Income
$43,474
Median Earnings
$1,498
Median Rent
$521,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Elevated first-floor unit with a private garage space, separate dining room, sunroom, and dedicated storage.
Where is this residential income property located?
The property is located at 501 W UNIVERSITY PARKWAY Unit B1 Baltimore, MD.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Two‑bedroom unit with 9.5‑foot ceilings; Private garage parking space included; Two large storage units convey with the purchase
