Brick Multifamily with 3
717 Newington Avenue Baltimore, MD 21217
717 Newington Avenue, Baltimore, MD, 21217
$445,000
For Sale
$445,000
Brick multifamily with three separately leased units, each with in-unit washer and dryer and updated finishes.
Property Size2,765 SF
Price / SF$160.94
Days on Market162
Property Features for 717 Newington Avenue
General Information
- Standard status
- Active
- Size
- 2,765 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1905
Listing agency
Keller Williams Integrity
(410) 465-6900
Listed by
Robert J Lucido · License #5683002
(410) 465-6900
Source
Compass
Added: Feb 11 Updated: Jul 22 at 7:13PM Checked: Jul 22 at 7:13PM
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 Keller Williams Integrity
Investment Insights
Based on property information with market context.
This brick multifamily building contains three separately leased residential units, operated as separate homes within the same structure. The property totals 5 bedrooms and 4 bathrooms across 3,740 square feet, with hardwood flooring throughout and updated finishes. Each unit is equipped with a stove, refrigerator, microwave, and dishwasher, and includes an in-unit washer and dryer.
The units have 12-month leases, and tenants are responsible for their own gas, electric, cable, and internet. Water is owner-paid due to non-separately metered service, with a water subsidy currently reimbursed by two of the three units. BGE provides a public service account for common area lighting.
Unit 1 is a 2 bed/1 bath unit with an included water subsidy. Unit 2 is a 2 bed/2 bath unit that is currently vacant. Unit 3 is a 1 bed/1 bath unit that is currently rented and includes a water subsidy. The property also offers a rear parking pad for tenants in addition to street parking, and a full rent roll and income statement are available. Bay Management Group has professionally managed the property since early 2024.
The units have 12-month leases, and tenants are responsible for their own gas, electric, cable, and internet. Water is owner-paid due to non-separately metered service, with a water subsidy currently reimbursed by two of the three units. BGE provides a public service account for common area lighting.
Unit 1 is a 2 bed/1 bath unit with an included water subsidy. Unit 2 is a 2 bed/2 bath unit that is currently vacant. Unit 3 is a 1 bed/1 bath unit that is currently rented and includes a water subsidy. The property also offers a rear parking pad for tenants in addition to street parking, and a full rent roll and income statement are available. Bay Management Group has professionally managed the property since early 2024.
Key Highlights
- Brick multifamily built in 1905 with three separately leased units totaling 3,740 SF
- 3‑unit mix: Unit 1 (2BD/1BA, 1,000 SF) and Unit 3 (1BD/1BA, 538 SF) plus Unit 2 (2BD/2BA, 1,200 SF)
- All units include in‑unit washer and dryer, plus appliances including stove, refrigerator, dishwasher, and microwave
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 | $61.4k | $22.20 |
| − Vacancy | −$3.4k | −$1.22 |
| EGI | $58.0k | $20.98 |
| − OpEx | −$17.4k | −$6.29 |
| NOI | $40.6k | $14.69 |
2,765 SF · lease $22.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$580.1K
$507.6K – $676.8K
NOI $40,605 @ 7.0% cap · market cap 9.12%
Second Best
Apartment 5plus
$514.6K
$450.3K – $600.4K
NOI $36,024 @ 7.0% cap · market cap 8.10%
Theoretical Best
Office A
$662.4K
$579.6K – $772.8K
NOI $46,369 @ 7.0% cap · market cap 10.42%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
ACE Home Offer
Real Estate Agency
Kaizen Homes, LLC
Construction Company
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Brick multifamily with three separately leased units, each with in-unit washer and dryer and updated finishes.
Where is this triplex located?
The property is located at 717 Newington Avenue Baltimore, MD.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: Brick multifamily built in 1905 with three separately leased units totaling 3,740 SF; 3‑unit mix: Unit 1 (2BD/1BA, 1,000 SF) and Unit 3 (1BD/1BA, 538 SF) plus Unit 2 (2BD/2BA, 1,200 SF); All units include in‑unit washer and dryer, plus appliances including stove, refrigerator, dishwasher, and microwave
