Brick Quadplex with Separate
For Sale
$495,000
622 E 33RD ST, Baltimore, MD 21218
Four rental units include a two-bedroom layout and three one-bedroom units.
Property Size2,492 SF
Price / SF$198.64
Days on Market55
Property Features for 622 E 33RD ST
General Information
Standard status
Active
Size
2,492 SF
Property subtype
Multi-family
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2BR/1BA, 3 x 1BR/1BA
Multifamily Units
4
Amenities
common laundry
Building Details
Buildings
1
Construction
brick rowhome
Listing Agency:
Northrop Realty
Listed By:
Daniel B Register IV · License #534790
(410) 531-0321
Source:
Careyrealtygroup
Added: Aug 15
Changed: Oct 1
Last Checked: Oct 7 at 11:37AM
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 Northrop Realty
Investment Insights
Based on property information with market context.
This 1915 brick rowhouse is configured as a four-unit residential income property. The unit mix includes one 2BR/1BA apartment and three 1BR/1BA apartments, with the basement residence offering a private entrance. A shared laundry area is located on the main level, while gas and electric service are separately metered for each unit.
The property is in Baltimore’s Waverly area near Waverly Market, Johns Hopkins University, the YMCA, city parks, public transit, and dining options. Its setting provides access to neighborhood services and nearby institutional, recreational, and transportation destinations.
The property is in Baltimore’s Waverly area near Waverly Market, Johns Hopkins University, the YMCA, city parks, public transit, and dining options. Its setting provides access to neighborhood services and nearby institutional, recreational, and transportation destinations.
Key Highlights
- Four‑unit mix: one 2BR/1BA apartment and three 1BR/1BA apartments
- 1915 brick rowhouse construction
- Basement unit includes a private entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,408
Cap Rate
6.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$648,160
$648.2K
Cap Rate 7%
$462,971
$463.0K
Cap Rate 9%
$360,089
$360.1K
Market Conditions
NOI Build-Up for 2,492 SF
Gross rent
$49.3K $19.80/SF
− Vacancy
−$3.0K −$1.22/SF
EGI
$46.3K $18.58/SF
− OpEx
−$13.9K −$5.57/SF
NOI
$32.4K $13.00/SF
Area
ZIP 21218
Vacancy
6.17%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$648,160
Cap Rate 7%
$462,971
Cap Rate 9%
$360,089
Alternative Uses
Best Use
Multifamily LT 5
$463.0K
$405.1K – $540.1K
NOI $32,408 @ 7.0% cap · market cap 6.55%
Second Best
Apartment 5plus
$413.0K
$361.4K – $481.9K
NOI $28,911 @ 7.0% cap · market cap 5.84%
Theoretical Best
Office A
$677.5K
$592.9K – $790.5K
NOI $47,428 @ 7.0% cap · market cap 9.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,910
Businesses Nearby
Explore this area
Business Placement
Demographics for 21218, MD
46,238
Population
21,751
Households
2.1
Avg Household Size
34
Median Age
44%
College-Educated
90%
High-School Grad
4.3 sq mi
ZIP Area
10,753
Density / Sq Mi
$58,378
Median Household Income
$38,316
Median Earnings
$1,239
Median Rent
$229,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four rental units include a two-bedroom layout and three one-bedroom units.
Where is this quadplex located?
The property is located at 622 E 33RD ST Baltimore, MD.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Four‑unit mix: one 2BR/1BA apartment and three 1BR/1BA apartments; 1915 brick rowhouse construction; Basement unit includes a private entrance
