Triplex with Three
645 North Paca Street Baltimore, MD 21201
645 North Paca Street, Baltimore, MD, 21201
$425,000
For Sale
$425,000
Three one-bedroom units include individual gas and electric meters plus in-unit laundry in a shared triplex setting.
Property Size1,900 SF
Price / SF$223.68
Days on Market307
Property Features for 645 North Paca Street
General Information
- Standard status
- Active
- Size
- 1,900 SF
- Property subtype
- Multi-Family / Ground Rent
Building Details
- Year Built
- 1920
Listing agency
Ben Frederick Realty, Inc.
(410) 916-3331
Listed by
Will A Cannon III · License #657102
(410) 916-3331
Source
Compass
Added: Sep 19, 2025 Updated: Jul 21 at 4:37PM Checked: Jul 21 at 4:37PM
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 Ben Frederick Realty, Inc.
Investment Insights
Based on property information with market context.
This triplex offers three one-bedroom apartments, each with a functional layout supported by individual gas and electric meters and in-unit laundry. Flooring varies across units with hardwood, vinyl plank, carpet, and tile, and the kitchens include 30” gas ranges, dishwashers, and garbage disposals. One kitchen has been recently updated, and the countertops and cabinetry include a mix of granite, laminate, and European-style finishes. Unit 1 includes access to a private brick patio, while Units 2 and 3 each feature rear wood decks. Two of the three apartments are Limited Lead-Free.
The property is located in Seton Hill and is described as offering a highly walkable setting, including Saint Mary’s Park just across the street. The remarks note a 15-minute walk to the University of Maryland Medical Center and about 10 minutes to the Peabody Institute.
As presented, the landlord currently pays water and public service electric, creating a straightforward utility billing framework for the building.
The property is located in Seton Hill and is described as offering a highly walkable setting, including Saint Mary’s Park just across the street. The remarks note a 15-minute walk to the University of Maryland Medical Center and about 10 minutes to the Peabody Institute.
As presented, the landlord currently pays water and public service electric, creating a straightforward utility billing framework for the building.
Key Highlights
- Triplex with three 1‑bedroom apartments in a shared setting at 645 N Paca Street (Seton Hill).
- Each unit has individual gas and electric meters plus in‑unit laundry.
- Two units are Limited Lead‑Free, helping reduce landlord lead compliance and associated turnover costs (per listing).
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $42.2k | $22.20 |
| − Vacancy | −$2.3k | −$1.22 |
| EGI | $39.9k | $20.98 |
| − OpEx | −$12.0k | −$6.29 |
| NOI | $27.9k | $14.69 |
1,900 SF · lease $22.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$398.6K
$348.8K – $465.0K
NOI $27,902 @ 7.0% cap · market cap 6.57%
Second Best
Apartment 5plus
$353.6K
$309.4K – $412.6K
NOI $24,754 @ 7.0% cap · market cap 5.82%
Theoretical Best
Office A
$455.2K
$398.3K – $531.1K
NOI $31,863 @ 7.0% cap · market cap 7.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
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FAQs
What type of property is this?
Triplex - Three one-bedroom units include individual gas and electric meters plus in-unit laundry in a shared triplex setting.
Where is this triplex located?
The property is located at 645 North Paca Street Baltimore, MD.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Triplex with three 1‑bedroom apartments in a shared setting at 645 N Paca Street (Seton Hill).; Each unit has individual gas and electric meters plus in‑unit laundry.; Two units are Limited Lead‑Free, helping reduce landlord lead compliance and associated turnover costs (per listing).
