Craftsman Quadplex with Separate
New
For Sale
$299,900
6409 KRIEL Street, Baltimore, MD 21207
Multi-Family, BALTIMORE, MD
Property Size1,986 SF
Lot Size0.16 Acres
Price / SF$151.01
Days on Market1
Property Features for 6409 KRIEL Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Rooms
Basement
Parking features
Driveway
Interior features
Bathroom - Tub Shower, Efficiency, Wood Floors
Fireplace
1
Appliances
Refrigerator, Dishwasher, Disposal, Microwave, Oven/Range - Gas
Elementary school
FEATHERBED LANE
Middle school
WOODLAWN
High school
WOODLAWN HIGH CENTER FOR PRE-ENG. RES.
Elementary school district
BALTIMORE COUNTY PUBLIC SCHOOLS
Middle school district
BALTIMORE COUNTY PUBLIC SCHOOLS
High school district
BALTIMORE COUNTY PUBLIC SCHOOLS
Standard status
Active
Size
1,986 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
2583
Utilities
Heating system
Other (Heating), Forced Air
Cooling system
Window Unit(s)
Amenities
covered front porch
private balcony
owner's workshop
carriage house
hardwood floors
Building Details
Year built
1921
Number of units
4
Building materials
Frame, Cedar, Shake Siding
Architectural style
Craftsman
Listing Agency:
RE/MAX Advantage Realty · RE/MAX International
(410) 391-6900
Listed By:
Frederick Golding · License #579183
(443) 506-2538
Added: Sep 23
Last Checked: Sep 23 at 11:06PM
MLS# MDBC2174522
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 four-unit Craftsman property, built in 1921, contains approximately 1,986 square feet across a basement apartment, two first-floor apartments, and one upper-level apartment. The first-floor residences connect to a covered front porch, while the upper-level unit includes a private balcony. Architectural details include cedar shake siding, hardwood floors, a fireplace, and window-unit cooling. Each apartment has a private entrance, separate electric meter, and individual electric panel. The property also includes a detached carriage house and a basement workshop for storage and maintenance use.
Two units are occupied and two are vacant. The property is located on Kriel Street in Baltimore County, with driveway parking and a 0.1607-acre lot. Heating is provided by forced air, and kitchens include gas ranges along with refrigerators, dishwashers, disposals, and microwaves.
Two units are occupied and two are vacant. The property is located on Kriel Street in Baltimore County, with driveway parking and a 0.1607-acre lot. Heating is provided by forced air, and kitchens include gas ranges along with refrigerators, dishwashers, disposals, and microwaves.
Key Highlights
- Four‑unit layout with one basement, two first‑floor, and one upper‑level apartment
- Two occupied units and two vacant units
- Separate electric meters and panels for each apartment
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
$25,874
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
8.63%
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%
$517,480
$517.5K
Cap Rate 7%
$369,629
$369.6K
Cap Rate 9%
$287,489
$287.5K
Market Conditions
NOI Build-Up for 1,986 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
$50.0K $25.20/SF
− Vacancy
−$3.0K −$1.51/SF
EGI
$47.0K $23.69/SF
− OpEx
−$21.2K −$10.66/SF
NOI
$25.9K $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 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%
$517,480
Cap Rate 7%
$369,629
Cap Rate 9%
$287,489
Alternative Uses
Best Use
Multifamily LT 5
$416.6K
$364.6K – $486.1K
NOI $29,165 @ 7.0% cap · market cap 9.72%
Second Best
Apartment 5plus
$369.6K
$323.4K – $431.2K
NOI $25,874 @ 7.0% cap · market cap 8.63%
Theoretical Best
Office A
$475.8K
$416.3K – $555.1K
NOI $33,305 @ 7.0% cap · market cap 11.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
50%
Occupancy
Location Intelligence
Trade Area within ½ mile
895
Businesses Nearby
Explore this area
Business Placement
Demographics for 21207, MD
46,595
Population
20,974
Households
2.2
Avg Household Size
41
Median Age
31%
College-Educated
90%
High-School Grad
10.3 sq mi
ZIP Area
4,524
Density / Sq Mi
$64,284
Median Household Income
$45,737
Median Earnings
$1,390
Median Rent
$248,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit Craftsman property with two occupied apartments, two vacant units, private entrances, and dedicated storage improvements.
Where is this quadplex located?
The property is located at 6409 KRIEL Street Baltimore, MD.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Four‑unit layout with one basement, two first‑floor, and one upper‑level apartment; Two occupied units and two vacant units; Separate electric meters and panels for each apartment
