Colonial Residential Income
For Sale
$400,000
Pending
6 Cromarty Rd, Baltimore, MD 21229
Built in 1926, the property offers central air, an eat-in kitchen, and both gas and electric service.
Property Size3,786 SF
Days on Market323
Property Features for 6 Cromarty Rd
General Information
Standard status
Pending
Size
3,786 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$3,971
Amenities
Central Air, Ceiling Fan(s)
Hot Water, Electric, Natural Gas
Electric Oven, Electric Range, Gas Oven, Gas Range, Cooktop, Washer, Range
Eat-in Kitchen
On Street
Colonial
Building Details
Building Size
3,786 SF
Year Built
1926
Stories
4
Listing Agency:
RE/MAX Allegiance
Listed By:
Barry S Levy · License #526756
(443) 827-1059
Source:
Evrealestate
Added: Oct 18, 2025
Changed: Sep 2
Last Checked: Aug 30 at 2:48PM
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 RE/MAX Allegiance
Investment Insights
Based on property information with market context.
This residential income property is a Colonial-style building constructed in 1926, with 2,524 of stated property size. Interior features include central air, ceiling fans, an eat-in kitchen, and a combination of hot water, electric, and natural gas service. Cooking and laundry equipment includes electric and gas ovens and ranges, a cooktop, and a washer.
The property is located at 6 Cromarty Rd in Baltimore, Maryland, within Baltimore County. On-street parking is available.
The property is located at 6 Cromarty Rd in Baltimore, Maryland, within Baltimore County. On-street parking is available.
Key Highlights
- 2,524 stated property size
- Colonial‑style property constructed in 1926
- Central air and ceiling fans
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
$32,884
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%
$657,680
$657.7K
Cap Rate 7%
$469,771
$469.8K
Cap Rate 9%
$365,378
$365.4K
Market Conditions
NOI Build-Up for 2,524 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
$63.6K $25.20/SF
− Vacancy
−$3.8K −$1.51/SF
EGI
$59.8K $23.69/SF
− OpEx
−$26.9K −$10.66/SF
NOI
$32.9K $13.03/SF
Area
ZIP 21229
Vacancy
6.00%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
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%
$657,680
Cap Rate 7%
$469,771
Cap Rate 9%
$365,378
Alternative Uses
Best Use
Apartment 5plus
$469.8K
$411.1K – $548.1K
NOI $32,884 @ 7.0% cap · market cap 8.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$601.7K
$526.5K – $702.0K
NOI $42,122 @ 7.0% cap · market cap 10.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
555
Businesses Nearby
Explore this area
Business Placement
Demographics for 21229, MD
43,464
Population
20,653
Households
2.1
Avg Household Size
38
Median Age
22%
College-Educated
89%
High-School Grad
5.9 sq mi
ZIP Area
7,367
Density / Sq Mi
$55,457
Median Household Income
$40,627
Median Earnings
$1,210
Median Rent
$184,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Built in 1926, the property offers central air, an eat-in kitchen, and both gas and electric service.
Where is this residential income property located?
The property is located at 6 Cromarty Rd Baltimore, MD.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 2,524 stated property size; Colonial‑style property constructed in 1926; Central air and ceiling fans
