Updated Residential Income
For Sale
$250,000
6414 PARK HEIGHTS AVENUE Unit E1, Baltimore, MD 21215
Condominium residence with a renovated kitchen, refreshed bathrooms, and a spacious interior layout.
Property Size1,582 SF
Days on Market28
Property Features for 6414 PARK HEIGHTS AVENUE Unit E1
General Information
Standard status
Active
Size
1,582 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,463
Building Details
Building Size
1,582 SF
Year Built
1960
Listing Agency:
Green Summit Realty, LLC
(443) 360-5360
Listed By:
Raphael Mifsud · License #681335
(443) 360-5360
Source:
Thehulsmangroup
Added: Jul 26
Changed: Aug 20
Last Checked: Aug 22 at 10:29AM
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 Green Summit Realty, LLC
Investment Insights
Based on property information with market context.
This residential income property is a condominium residence with three bedrooms and two full bathrooms. The interior includes a generous living room, a separate dining area, and large bedrooms. Kitchen improvements include updated finishes, stainless steel appliances, and substantial cabinetry. Both bathrooms have also been renovated, giving the unit a refreshed interior presentation.
Unit E1 is located at 6414 Park Heights Avenue in Baltimore, Maryland 21215. Built in 1960, the property combines an established building setting with recent interior updates and a practical residential layout.
Unit E1 is located at 6414 Park Heights Avenue in Baltimore, Maryland 21215. Built in 1960, the property combines an established building setting with recent interior updates and a practical residential layout.
Key Highlights
- Three‑bedroom, two‑full‑bathroom condominium residence
- Renovated kitchen with stainless steel appliances and ample cabinetry
- Both full bathrooms have been renovated
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
$18,798
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
7.52%
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%
$375,960
$376.0K
Cap Rate 7%
$268,543
$268.5K
Cap Rate 9%
$208,867
$208.9K
Market Conditions
NOI Build-Up for 1,582 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
$36.8K $23.28/SF
− Vacancy
−$2.7K −$1.68/SF
EGI
$34.2K $21.60/SF
− OpEx
−$15.4K −$9.72/SF
NOI
$18.8K $11.88/SF
Area
ZIP 21215
Vacancy
7.20%
Lease Rate
$23.28 /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%
$375,960
Cap Rate 7%
$268,543
Cap Rate 9%
$208,867
Alternative Uses
Best Use
Apartment 5plus
$268.5K
$235.0K – $313.3K
NOI $18,798 @ 7.0% cap · market cap 7.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$377.2K
$330.0K – $440.0K
NOI $26,401 @ 7.0% cap · market cap 10.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,204
Businesses Nearby
Explore this area
Business Placement
Demographics for 21215, MD
54,198
Population
24,876
Households
2.2
Avg Household Size
42
Median Age
25%
College-Educated
84%
High-School Grad
6.8 sq mi
ZIP Area
7,970
Density / Sq Mi
$47,606
Median Household Income
$37,670
Median Earnings
$1,177
Median Rent
$189,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium residence with a renovated kitchen, refreshed bathrooms, and a spacious interior layout.
Where is this residential income property located?
The property is located at 6414 PARK HEIGHTS AVENUE Unit E1 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: Three‑bedroom, two‑full‑bathroom condominium residence; Renovated kitchen with stainless steel appliances and ample cabinetry; Both full bathrooms have been renovated
