Residential Income Property with
New
For Sale
$250,000
622 S CHARLES STREET, Baltimore, MD 21230
A first-level condo offers two bedrooms, two full baths, and a private off-street parking space.
Property Size987 SF
Days on Market6
Property Features for 622 S CHARLES STREET
General Information
Standard status
Active
Size
987 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,822
Amenities
fireplace
in-unit washer/dryer
Building Details
Building Size
987 SF
Year Built
1986
Listing Agency:
The KW Collective
Listed By:
David G Yungmann · License #593157
(410) 207-7777
Source:
Thehulsmangroup
Added: Oct 1
Changed: Oct 6
Last Checked: Oct 5 at 11:07PM
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 The KW Collective
Investment Insights
Based on property information with market context.
Set on the first level, this one-level condo has a side-entry foyer, a large living room, two bedrooms, two full baths, and a fireplace. Updates include carpet and appliances, a GE steam washer/dryer combo, HVAC installed in 2017, and windows from 2010. The unit also includes a private off-street parking space and two renewable annual street-parking passes. Photos are virtually staged.
The property is within walking distance of Federal Hill, the Inner Harbor, MARC and Light Rail, Harbor East, the business district, and Orioles and Ravens venues. I-95, I-295, and I-83 are listed as commuting routes; BWI and Penn Station are described as a short drive away. Condo fees include insurance, water, and exterior maintenance.
The property is within walking distance of Federal Hill, the Inner Harbor, MARC and Light Rail, Harbor East, the business district, and Orioles and Ravens venues. I-95, I-295, and I-83 are listed as commuting routes; BWI and Penn Station are described as a short drive away. Condo fees include insurance, water, and exterior maintenance.
Key Highlights
- Two bedrooms and two full baths in a one‑level condo
- Private off‑street parking space plus two annually renewable street passes
- Side‑entry foyer layout and fireplace
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,859
Cap Rate
5.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$257,180
$257.2K
Cap Rate 7%
$183,700
$183.7K
Cap Rate 9%
$142,878
$142.9K
Market Conditions
NOI Build-Up for 987 SF
Gross rent
$24.9K $25.20/SF
− Vacancy
−$1.5K −$1.51/SF
EGI
$23.4K $23.69/SF
− OpEx
−$10.5K −$10.66/SF
NOI
$12.9K $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%
$257,180
Cap Rate 7%
$183,700
Cap Rate 9%
$142,878
Alternative Uses
Best Use
Apartment 5plus
$183.7K
$160.7K – $214.3K
NOI $12,859 @ 7.0% cap · market cap 5.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$236.5K
$206.9K – $275.9K
NOI $16,552 @ 7.0% cap · market cap 6.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Yes
Paved road 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
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Frequently Asked Questions
What type of property is this?
Residential income property - A first-level condo offers two bedrooms, two full baths, and a private off-street parking space.
Where is this residential income property located?
The property is located at 622 S CHARLES STREET Baltimore, MD.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Two bedrooms and two full baths in a one‑level condo; Private off‑street parking space plus two annually renewable street passes; Side‑entry foyer layout and fireplace
