Updated Duplex with Attached
For Sale
$199,000
703 North Augusta Avenue, Baltimore, MD 21229
Two-unit Baltimore City property with one occupied residence, one vacant unit, and recent major system upgrades.
Property Size1,400 SF
Price / SF$142.14
Days on Market270
Property Features for 703 North Augusta Avenue
General Information
Standard status
Active
Size
1,400 SF
Property subtype
Multi-Family / Fee Simple
Zoning
R-6
Taxes and HOA fees
Annual Taxes
$2,034
Amenities
No
No Pool
Building Details
Year Built
1937
Listing Agency:
Hyatt & Company Real Estate, LLC
(410) 302-3090
Listed By:
Gylian Peter Page · License #5014132
(410) 302-3090
Source:
Compass
Added: Dec 4, 2025
Changed: Aug 30
Last Checked: Aug 30 at 5:05PM
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 Hyatt & Company Real Estate, LLC
Investment Insights
Based on property information with market context.
This Baltimore City duplex contains approximately 1,400 square feet across two residential units. The first-floor residence includes 1 bedroom and 1 bathroom and is occupied by a tenant with more than 10 years of tenure. The second-floor unit offers 2 bedrooms and 1 bathroom and is currently vacant. The property also includes an attached one-car garage that provides on-site storage space.
Major improvements completed approximately 2 years ago include the roof, boiler, and water heater. Built in 1937 and zoned R-6, the property is located within Baltimore City limits and offers a two-unit configuration suitable for an owner-occupant or multifamily investor.
Major improvements completed approximately 2 years ago include the roof, boiler, and water heater. Built in 1937 and zoned R-6, the property is located within Baltimore City limits and offers a two-unit configuration suitable for an owner-occupant or multifamily investor.
Key Highlights
- Two‑unit duplex with approximately 1,400 SF
- First‑floor unit has 1BR/1BA and a tenant with 10+ years of occupancy
- Vacant second‑floor residence offers 2BR/1BA
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
$18,240
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
9.17%
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%
$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
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
$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 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%
$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
NOI $19,792 @ 7.0% cap · market cap 9.95%
Second Best
Apartment 5plus
$260.6K
$228.0K – $304.0K
NOI $18,240 @ 7.0% cap · market cap 9.17%
Theoretical Best
Office A
$333.8K
$292.1K – $389.4K
NOI $23,364 @ 7.0% cap · market cap 11.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit Baltimore City property with one occupied residence, one vacant unit, and recent major system upgrades.
Where is this duplex located?
The property is located at 703 North Augusta Avenue Baltimore, MD.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Two‑unit duplex with approximately 1,400 SF; First‑floor unit has 1BR/1BA and a tenant with 10+ years of occupancy; Vacant second‑floor residence offers 2BR/1BA
