Three-Unit Colonial
New
For Sale
$349,900
5505 RICHARD Avenue, Baltimore, MD 21214
Multi-Family, BALTIMORE, MD
Property Size1,832 SF
Lot Size0.29 Acres
Price / SF$190.99
Days on Market1
Property Features for 5505 RICHARD Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Rooms
Basement
Parking features
On Street
Interior features
2nd Kitchen, Bathroom - Tub Shower, Entry Level Bedroom, Floor Plan - Traditional, Wood Floors
Subdivision
GLENHAM - BELFORD
Elementary school
HAMILTON ELEMENTARY-MIDDLE SCHOOL
Elementary school district
BALTIMORE CITY PUBLIC SCHOOLS
Middle school district
BALTIMORE CITY PUBLIC SCHOOLS
High school district
BALTIMORE CITY PUBLIC SCHOOLS
Special listing conditions
In Foreclosure
Standard status
Active
Size
1,832 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Annual Amount
4414
Utilities
Heating system
Other (Heating)
Cooling system
Central Air
Building Details
Year built
1924
Number of units
1
Building materials
Combination, Vinyl Siding, Frame
Architectural style
Colonial
Listing Agency:
Century 21 Downtown · Century 21 Real Estate
(410) 547-1116
Listed By:
Gina M Gargeu · License #510631
(410) 547-1116
Added: Aug 27
Last Checked: Aug 27 at 5:06AM
MLS# MDBA2229294
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 detached Colonial triplex, built in 1924, contains 1,832 square feet of finished space arranged across three units. The first two apartments each offer a living room, kitchen with granite countertops and appliances, two bedrooms, and a full bathroom with a tub and shower. The third unit is a studio with its own kitchen and bathroom. Interior features include luxury vinyl plank, ceramic tile, wood flooring, double-hung vinyl-clad windows, and a traditional floor plan. Central air conditioning is provided.
The property occupies a 0.2944-acre corner lot with landscaped front and rear yards. On-street parking is available, and the basement is included among the property’s rooms. Its three-unit configuration supports both owner-occupancy and rental use, as explicitly described in the property information.
The property occupies a 0.2944-acre corner lot with landscaped front and rear yards. On-street parking is available, and the basement is included among the property’s rooms. Its three-unit configuration supports both owner-occupancy and rental use, as explicitly described in the property information.
Key Highlights
- Three‑unit layout with two two‑bedroom apartments and one studio unit
- 1,832 square feet of finished space
- 0.2944‑acre corner lot with landscaped front and rear yards
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
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Frequently Asked Questions
What type of property is this?
Triplex - Detached three-unit property with two-bedroom apartments, a studio, central air, and landscaped outdoor areas.
Where is this triplex located?
The property is located at 5505 RICHARD Avenue 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 layout with two two‑bedroom apartments and one studio unit; 1,832 square feet of finished space; 0.2944‑acre corner lot with landscaped front and rear yards
