Renovated Duplex with Separate
New
For Sale
$275,000
5247 NELSON Avenue, Baltimore, MD 21215
MULTI_FAMILY - BALTIMORE, MD
Property Size1,750 SF
Lot Size0.08 Acres
Price / SF$157.14
Days on Market4
Property Features for 5247 NELSON Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking features
On Street
Appliances
Stove, Built-In Microwave, Washer/Dryer Stacked
Subdivision
NONE AVAILABLE
Elementary school district
BALTIMORE CITY PUBLIC SCHOOLS
Middle school district
BALTIMORE CITY PUBLIC SCHOOLS
High school district
BALTIMORE CITY PUBLIC SCHOOLS
Standard status
Active
Size
1,750 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
738
Utilities
Heating system
Central
Cooling system
Ductless
Building Details
Year built
1945
Number of units
2
Building materials
Aluminum Siding, Shingle Siding, Wood Siding
Listing Agency:
R.E. Shilow Realty Investors, Inc.
(443) 602-9900
Listed By:
Cydni M Gilliam · License #5016780
(410) 824-5414
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 11 at 8:06PM
MLS# MDBA2225028
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,750-square-foot duplex contains two 2-bedroom units, each with a fully finished kitchen. Renovations include new electrical, plumbing, and HVAC systems, with separate utility meters, electrical panels, and water heaters serving each residence. Central heating and ductless cooling are provided, and the property includes a stacked washer/dryer, stove, and built-in microwave. A basement is also part of the layout.
Built in 1945 on 0.08 acres, the property is located in Baltimore City, MD 21215. On-street parking is available. The two-unit arrangement supports rental occupancy or an owner-occupancy strategy with the second unit available for rent.
Built in 1945 on 0.08 acres, the property is located in Baltimore City, MD 21215. On-street parking is available. The two-unit arrangement supports rental occupancy or an owner-occupancy strategy with the second unit available for rent.
Key Highlights
- Two 2‑bedroom units within a 1,750‑square‑foot duplex
- Renovations include new electrical, plumbing, and HVAC systems
- Separate utility meters, electrical panels, and water heaters for each unit
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
$22,596
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
8.22%
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%
$451,920
$451.9K
Cap Rate 7%
$322,800
$322.8K
Cap Rate 9%
$251,067
$251.1K
Market Conditions
NOI Build-Up for 1,750 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
$34.7K $19.80/SF
− Vacancy
−$2.4K −$1.35/SF
EGI
$32.3K $18.45/SF
− OpEx
−$9.7K −$5.53/SF
NOI
$22.6K $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 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%
$451,920
Cap Rate 7%
$322,800
Cap Rate 9%
$251,067
Alternative Uses
Best Use
Multifamily LT 5
$322.8K
$282.5K – $376.6K
NOI $22,596 @ 7.0% cap · market cap 8.22%
Second Best
Apartment 5plus
$297.1K
$259.9K – $346.6K
NOI $20,794 @ 7.0% cap · market cap 7.56%
Theoretical Best
Office A
$417.2K
$365.1K – $486.8K
NOI $29,205 @ 7.0% cap · market cap 10.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,312
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two updated residences offer finished kitchens, independent utility systems, and flexible rental or owner-occupancy use.
Where is this duplex located?
The property is located at 5247 NELSON Avenue Baltimore, MD.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Two 2‑bedroom units within a 1,750‑square‑foot duplex; Renovations include new electrical, plumbing, and HVAC systems; Separate utility meters, electrical panels, and water heaters for each unit
