Renovated Duplex with Updated
For Sale
$215,000
5446 Narcissus Avenue, Baltimore, MD 21215
Renovated two-unit rowhome with updated one-bedroom, one-bath apartments and brand-new kitchens.
Property Size2,085 SF
Price / SF$151.41
Days on Market188
Property Features for 5446 Narcissus Avenue
General Information
Standard status
Active
Size
2,085 SF
Property subtype
Multi-Family
Zoning
R-6
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,657
Amenities
Connecting Stairway
Natural Gas
Yes
No
Estimated
No Pool
Public
R
0.04
On Street
30000.00
Building Details
Building Size
2,085 SF
Year Built
1929
Tenancy
Multi
Listing Agency:
Elfant Wissahickon-Chestnut Hill
(856) 222-0077
Listed By:
Christopher Twardy · License #1540241
(609) 304-2314
Source:
Thetristaterealestategroup
Added: Mar 3
Changed: Sep 6
Last Checked: Sep 7 at 5:10AM
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 Elfant Wissahickon-Chestnut Hill
Investment Insights
Based on property information with market context.
This renovated duplex is a fully functional two-unit rowhome designed for straightforward income use. Each unit is a one-bedroom, one-bath layout and features a brand-new kitchen and fresh paint throughout. The basement offers additional space that could support laundry setup, including the potential to install a washer and dryer.
The property is located at 5446 Narcissus Avenue in Baltimore, Maryland 21215. It is presented as a turn-key option with modern updates already completed in both apartments.
As offered, the duplex includes two move-in ready apartments with consistent updates across the units, including newly updated kitchens and interior finishes.
The property is located at 5446 Narcissus Avenue in Baltimore, Maryland 21215. It is presented as a turn-key option with modern updates already completed in both apartments.
As offered, the duplex includes two move-in ready apartments with consistent updates across the units, including newly updated kitchens and interior finishes.
Key Highlights
- Renovated duplex rowhome with 2 units, each featuring 1 bedroom and 1 bathroom
- Brand‑new kitchens in both apartments
- Fresh paint throughout
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
$18,335
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
8.53%
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%
$366,700
$366.7K
Cap Rate 7%
$261,929
$261.9K
Cap Rate 9%
$203,722
$203.7K
Market Conditions
NOI Build-Up for 1,420 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
$28.1K $19.80/SF
− Vacancy
−$1.9K −$1.35/SF
EGI
$26.2K $18.45/SF
− OpEx
−$7.9K −$5.53/SF
NOI
$18.3K $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%
$366,700
Cap Rate 7%
$261,929
Cap Rate 9%
$203,722
Alternative Uses
Best Use
Multifamily LT 5
$261.9K
$229.2K – $305.6K
NOI $18,335 @ 7.0% cap · market cap 8.53%
Second Best
Apartment 5plus
$241.0K
$210.9K – $281.2K
NOI $16,873 @ 7.0% cap · market cap 7.85%
Theoretical Best
Office A
$338.5K
$296.2K – $395.0K
NOI $23,698 @ 7.0% cap · market cap 11.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,219
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 - Renovated two-unit rowhome with updated one-bedroom, one-bath apartments and brand-new kitchens.
Where is this duplex located?
The property is located at 5446 Narcissus Avenue Baltimore, MD.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Renovated duplex rowhome with 2 units, each featuring 1 bedroom and 1 bathroom; Brand‑new kitchens in both apartments; Fresh paint throughout
