Two-Bedroom Residential Income
For Sale
$259,900
618 S CHARLES STREET Unit R 32, Baltimore, MD 21230
One-level condo with hardwood flooring, updated appliances, in-unit laundry, and assigned rear parking.
Property Size907 SF
Days on Market87
Property Features for 618 S CHARLES STREET Unit R 32
General Information
Standard status
Active
Size
907 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,994
Building Details
Building Size
907 SF
Year Built
1986
Listing Agency:
Merritt Real Estate, LLC
Listed By:
Kénitra D Merritt · License #528617
(410) 719-0500
Source:
Thehulsmangroup
Added: Jul 18
Changed: Oct 3
Last Checked: Oct 11 at 10:38AM
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 Merritt Real Estate, LLC
Investment Insights
Based on property information with market context.
This one-level condominium includes two bedrooms and two baths, with hardwood flooring, new carpet, a stainless steel stove, and an updated stainless steel Bosch dishwasher. An updated front-loading washer and dryer set is also included. One rear parking space in the parking lot conveys with the property, and two area #8 parking passes are available through Baltimore City.
The property is located at 618 S Charles Street in Baltimore, with access to I-95, I-295, I-395, I-895, I-83, Key Highway, Light Street, Pratt Street, and Route 40. M&T Bank Stadium, Oriole Park at Camden Yards, the National Aquarium, Maryland Science Center, Baltimore Convention Center, Inner Harbor, and an MTA Light Rail Station are within a short walk or accessible from the property.
The property is located at 618 S Charles Street in Baltimore, with access to I-95, I-295, I-395, I-895, I-83, Key Highway, Light Street, Pratt Street, and Route 40. M&T Bank Stadium, Oriole Park at Camden Yards, the National Aquarium, Maryland Science Center, Baltimore Convention Center, Inner Harbor, and an MTA Light Rail Station are within a short walk or accessible from the property.
Key Highlights
- Two (2) bedrooms and two (2) baths in a one‑level condo
- Hardwood floors and brand new carpet
- Stainless steel stove and updated stainless steel Bosch dishwasher
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,817
Cap Rate
4.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$236,340
$236.3K
Cap Rate 7%
$168,814
$168.8K
Cap Rate 9%
$131,300
$131.3K
Market Conditions
NOI Build-Up for 907 SF
Gross rent
$22.9K $25.20/SF
− Vacancy
−$1.4K −$1.51/SF
EGI
$21.5K $23.69/SF
− OpEx
−$9.7K −$10.66/SF
NOI
$11.8K $13.03/SF
Area
Baltimore, MD
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 Rate 5%
$236,340
Cap Rate 7%
$168,814
Cap Rate 9%
$131,300
Alternative Uses
Best Use
Apartment 5plus
$168.8K
$147.7K – $197.0K
NOI $11,817 @ 7.0% cap · market cap 4.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$217.3K
$190.1K – $253.5K
NOI $15,210 @ 7.0% cap · market cap 5.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
6,994
Businesses Nearby
Explore this area
Business Placement
Demographics for 21230, MD
36,660
Population
18,070
Households
2
Avg Household Size
33
Median Age
59%
College-Educated
88%
High-School Grad
6.3 sq mi
ZIP Area
5,819
Density / Sq Mi
$94,164
Median Household Income
$69,973
Median Earnings
$1,771
Median Rent
$327,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - One-level condo with hardwood flooring, updated appliances, in-unit laundry, and assigned rear parking.
Where is this residential income property located?
The property is located at 618 S CHARLES STREET Unit R 32 Baltimore, MD.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: Two (2) bedrooms and two (2) baths in a one‑level condo; Hardwood floors and brand new carpet; Stainless steel stove and updated stainless steel Bosch dishwasher
