Building Details

Year Built 1937

Buildings 1

Construction rowhome

Listing Agency: Berkshire Hathaway HomeServices Homesale Realty Show Phone

Listed By: Christopher J Cooke · License #596183 Show Phone

Source: Cummingsrealtors

Added: Sep 18 Changed: Oct 10 Last Checked: Oct 9 at 10:16PM

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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 Berkshire Hathaway HomeServices Homesale Realty

Investment Insights

Based on property information with market context.

Built in 1937, this 1,400-square-foot legally zoned duplex is configured as a two-unit rowhome with separate metering for each residence. The main-level apartment includes 1 bedroom, 1 full bath, a kitchen, and rear-deck access. It is currently occupied by a long-term tenant. The upper apartment is vacant and offers a flexible 1-2 bedroom layout with 1 bath, a kitchen, and a full bath.

The property includes a 1-car garage and driveway parking, providing off-street parking for the residents. Located at 703 N Augusta Avenue in Baltimore, Maryland, the building offers a combination of existing occupancy, a vacant second unit, and practical parking improvements. The property is offered as-is.

Key Highlights

• Legally zoned 2‑unit rowhome
• 1,400 SF building constructed in 1937
• Main‑level unit has 1 bedroom, 1 full bath, kitchen, and rear‑deck access

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,240

Cap Rate

9.12%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$364,800 $364.8K

Cap Rate 7%

$260,571 $260.6K

Cap Rate 9%

$202,667 $202.7K

Market Conditions

NOI Build-Up for 1,400 SF

Gross rent

$35.3K $25.20/SF

− Vacancy

−$2.1K −$1.51/SF

EGI

$33.2K $23.69/SF

− OpEx

−$14.9K −$10.66/SF

NOI

$18.2K $13.03/SF

Area

ZIP 21229

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%

$364,800

Cap Rate 7%

$260,571

Cap Rate 9%

$202,667

Alternative Uses

Best Use

Multifamily LT 5

$282.7K

$247.4K – $329.9K (±1% cap)

NOI $19,792 @ 7.0% cap · market cap 9.90%

Second Best

Apartment 5plus

$260.6K

$228.0K – $304.0K (±1% cap)

NOI $18,240 @ 7.0% cap · market cap 9.12%

Theoretical Best

Office A

$333.8K

$292.1K – $389.4K (±1% cap)

NOI $23,364 @ 7.0% cap · market cap 11.69%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Law Firm Real Estate Agency Spa & Massage Center Restaurant Building Supply Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

435

Businesses Nearby

Explore this area Business Placement

Demographics for 21229, MD

43,464

Population

20,653

Households

2.1

Avg Household Size

38

Median Age

22%

College-Educated

89%

High-School Grad

5.9 sq mi

ZIP Area

7,367

Density / Sq Mi

$55,457

Median Household Income

$40,627

Median Earnings

$1,210

Median Rent

$184,900

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Legally zoned duplex with separately metered units and off-street parking.

Where is this duplex located?

The property is located at 703 N AUGUSTA AVENUE Baltimore, MD.

What is the asking price?

The asking price for this property is $199,900.

What are key features of this property?

This property features: Legally zoned 2‑unit rowhome; 1,400 SF building constructed in 1937; Main‑level unit has 1 bedroom, 1 full bath, kitchen, and rear‑deck access