Building Details

Year Built 1924

Buildings 1

Listing Agency: Century 21 Downtown

Listed By: Gina M Gargeu · License #510631 Show Phone

Source: Baltimorehousesale

Added: Sep 2 Changed: Oct 15 Last Checked: Oct 7 at 4:17PM

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Investment Insights

Based on property information with market context.

This detached triplex contains 1,832 square feet of finished space within a 1924-built residential property. Two units each offer a living room, kitchen, two bedrooms, and a full bathroom, while the third is a studio with its own kitchen and bathroom. Granite countertops, appliances, luxury vinyl plank flooring, ceramic tile, double-hung vinyl-clad windows, and a tub-shower combination are among the interior features.

The property occupies a 0.29-acre corner lot at 5505 Richard Ave in Baltimore’s Glenham-Belford neighborhood. Landscaped front and rear yards add defined outdoor areas around the building.

Key Highlights

• Three‑unit configuration with two two‑bedroom units and one studio
• 1,832 square feet of finished space on a 0.29‑acre corner lot
• Two full layouts include living rooms, kitchens, two bedrooms, and bathrooms

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$26,903

Cap Rate

7.69%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$538,060 $538.1K

Cap Rate 7%

$384,329 $384.3K

Cap Rate 9%

$298,922 $298.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,832 SF

Gross rent

$40.7K $22.20/SF

− Vacancy

−$2.2K −$1.22/SF

EGI

$38.4K $20.98/SF

− OpEx

−$11.5K −$6.29/SF

NOI

$26.9K $14.69/SF

Area

Baltimore, MD

Vacancy

5.50%

Lease Rate

$22.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$538,060

Cap Rate 7%

$384,329

Cap Rate 9%

$298,922

Alternative Uses

Best Use

Multifamily LT 5

$384.3K

$336.3K – $448.4K (±1% cap)

NOI $26,903 @ 7.0% cap · market cap 7.69%

Second Best

Apartment 5plus

$341.0K

$298.4K – $397.8K (±1% cap)

NOI $23,868 @ 7.0% cap · market cap 6.82%

Theoretical Best

Office A

$438.9K

$384.0K – $512.1K (±1% cap)

NOI $30,723 @ 7.0% cap · market cap 8.78%

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

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Building Supply Restaurant Big Box & Wholesale Store

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

3

Residential units

Location Intelligence

Trade Area within ½ mile

764

Businesses Nearby

Explore this area Business Placement

Demographics for 21214, MD

19,344

Population

9,096

Households

2.1

Avg Household Size

41

Median Age

42%

College-Educated

93%

High-School Grad

2.8 sq mi

ZIP Area

6,909

Density / Sq Mi

$82,093

Median Household Income

$54,228

Median Earnings

$1,188

Median Rent

$250,700

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?

Triplex - Two two-bedroom units and one studio occupy a corner-lot property with landscaped front and rear yards.

Where is this triplex located?

The property is located at 5505 Richard Ave Baltimore, MD.

What is the asking price?

The asking price for this property is $349,900.

What are key features of this property?

This property features: Three‑unit configuration with two two‑bedroom units and one studio; 1,832 square feet of finished space on a 0.29‑acre corner lot; Two full layouts include living rooms, kitchens, two bedrooms, and bathrooms