Two-Unit Historic
New
For Sale
$550,000
703 S CLINTON STREET, Baltimore, MD 21224
Corner-lot duplex with two kitchens, a partially finished basement, and convenient parking in Baltimore’s Canton neighborhood.
Property Size2,800 SF
Price / SF$196.43
Days on Market6
Property Features for 703 S CLINTON STREET
General Information
Standard status
Active
Size
2,800 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Amenities
open floor plan
gourmet kitchen with stainless steel appliances
gas oven/range
dishwasher
washer and dryer
second kitchen
partially finished basement
Building Details
Year Built
1913
Listing Agency:
One Percent Lists Mid-Atlantic
(443) 987-1402
Listed By:
Robby B Douglas · License #662916
(443) 617-7373
Source:
Cummingsrealtors
Added: Sep 22
Changed: Sep 26
Last Checked: Sep 26 at 8:26AM
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 One Percent Lists Mid-Atlantic
Investment Insights
Based on property information with market context.
This 2,800-square-foot duplex, built in 1913, offers a two-unit configuration with an open interior layout and features suited to separate occupancy. The main kitchen includes stainless steel appliances, a gas oven/range, dishwasher, and front-loading washer and dryer. A second kitchen expands the property’s functionality, while an entry-level bedroom and primary bath add convenience. The partially finished basement provides additional interior space for future customization.
Set on a corner lot at 703 S Clinton Street, the property includes driveway parking along with on-street parking. Its Canton location places the home near parks, local shops, dining, public services, and schools. The property can accommodate an owner-occupant arrangement with one unit rented separately or use as a two-unit rental, as supported by the existing layout.
Set on a corner lot at 703 S Clinton Street, the property includes driveway parking along with on-street parking. Its Canton location places the home near parks, local shops, dining, public services, and schools. The property can accommodate an owner-occupant arrangement with one unit rented separately or use as a two-unit rental, as supported by the existing layout.
Key Highlights
- 2,800‑square‑foot duplex on a corner lot
- Two‑unit layout with a second kitchen
- Stainless steel appliances, gas oven/range, dishwasher, and front‑loading washer and dryer
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
$36,674
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
6.67%
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%
$733,480
$733.5K
Cap Rate 7%
$523,914
$523.9K
Cap Rate 9%
$407,489
$407.5K
Market Conditions
NOI Build-Up for 2,800 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
$55.4K $19.80/SF
− Vacancy
−$3.0K −$1.09/SF
EGI
$52.4K $18.71/SF
− OpEx
−$15.7K −$5.61/SF
NOI
$36.7K $13.10/SF
Area
ZIP 21224
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
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%
$733,480
Cap Rate 7%
$523,914
Cap Rate 9%
$407,489
Alternative Uses
Best Use
Multifamily LT 5
$523.9K
$458.4K – $611.2K
NOI $36,674 @ 7.0% cap · market cap 6.67%
Second Best
Apartment 5plus
$485.5K
$424.8K – $566.5K
NOI $33,987 @ 7.0% cap · market cap 6.18%
Theoretical Best
Office A
$670.8K
$587.0K – $782.6K
NOI $46,956 @ 7.0% cap · market cap 8.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,550
Businesses Nearby
Explore this area
Business Placement
Demographics for 21224, MD
54,266
Population
23,433
Households
2.3
Avg Household Size
33
Median Age
50%
College-Educated
85%
High-School Grad
9.3 sq mi
ZIP Area
5,835
Density / Sq Mi
$86,209
Median Household Income
$63,556
Median Earnings
$1,782
Median Rent
$281,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Corner-lot duplex with two kitchens, a partially finished basement, and convenient parking in Baltimore’s Canton neighborhood.
Where is this duplex located?
The property is located at 703 S CLINTON STREET Baltimore, MD.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 2,800‑square‑foot duplex on a corner lot; Two‑unit layout with a second kitchen; Stainless steel appliances, gas oven/range, dishwasher, and front‑loading washer and dryer
