Detached Triplex with Studio
New
For Sale
$349,900
5505 Richard Ave, Baltimore, MD 21214
Two two-bedroom units and one studio occupy a corner-lot property with landscaped front and rear yards.
Property Size1,832 SF
Lot Size0.29 Acres
Price / SF$190.99
Days on Market2
Property Features for 5505 Richard Ave
General Information
Standard status
Active
Size
1,832 SF
Lot size
0.29 Acres
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA, 1 x studio
Multifamily Units
3
Building Details
Year Built
1924
Buildings
1
Listing Agency:
Century 21 Downtown
Listed By:
Gina M Gargeu · License #510631
(410) 547-1116
Source:
Baltimorehousesale
Added: Sep 2
Changed: Sep 3
Last Checked: Sep 2 at 6:01PM
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 Century 21 Downtown
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.
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 = 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
$26,903
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
7.69%
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%
$538,060
$538.1K
Cap Rate 7%
$384,329
$384.3K
Cap Rate 9%
$298,922
$298.9K
Market Conditions
NOI Build-Up for 1,832 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
$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 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%
$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
NOI $26,903 @ 7.0% cap · market cap 7.69%
Second Best
Apartment 5plus
$341.0K
$298.4K – $397.8K
NOI $23,868 @ 7.0% cap · market cap 6.82%
Theoretical Best
Office A
$438.9K
$384.0K – $512.1K
NOI $30,723 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
