Furnished Residential Income
For Sale
$449,000
850 ALICEANNA STREET Unit 305, Baltimore, MD 21202
Corner residence with loft-style finishes, dedicated parking, and a fully equipped kitchen in a boutique condominium setting.
Property Size1,580 SF
Days on Market20
Property Features for 850 ALICEANNA STREET Unit 305
General Information
Standard status
Active
Size
1,580 SF
Total Parking Spaces
2
Property subtype
Unit/Flat/Apartment
Additional Details
Furnished
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$9,322
Building Details
Building Size
1,580 SF
Year Built
2007
Listing Agency:
Monument Sotheby's International Realty
(443) 927-6443
Listed By:
Holly D Winfield · License #36089
(443) 927-6443
Source:
Thehulsmangroup
Added: Aug 3
Changed: Aug 20
Last Checked: Aug 21 at 11:51AM
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 Monument Sotheby's International Realty
Investment Insights
Based on property information with market context.
This furnished residential income property is a two-bedroom, two-bath corner residence in a boutique condominium completed in 2007. The open living and dining areas connect with a kitchen featuring granite counters, stainless steel appliances, and custom cabinetry. Concrete ceilings, exposed ductwork, hardwood flooring, and extensive windows define the loft-inspired interior. The home is offered with furnishings and includes two assigned parking spaces on the residence level.
The property is situated in Harbor East, with restaurants, retail, Whole Foods, Starbucks, the waterfront promenade, and Baltimore’s Inner Harbor nearby. Building amenities and services include controlled entry, city views, and condominium fees covering heating, air conditioning, water, and trash. The residence can serve as a full-time home or city retreat, with a low-maintenance ownership profile supported by the included building services.
The property is situated in Harbor East, with restaurants, retail, Whole Foods, Starbucks, the waterfront promenade, and Baltimore’s Inner Harbor nearby. Building amenities and services include controlled entry, city views, and condominium fees covering heating, air conditioning, water, and trash. The residence can serve as a full-time home or city retreat, with a low-maintenance ownership profile supported by the included building services.
Key Highlights
- Two‑bedroom, two‑bath corner residence
- Fully furnished with two assigned parking spaces
- Loft‑style interior with concrete ceilings and exposed ductwork
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
$20,585
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
4.58%
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%
$411,700
$411.7K
Cap Rate 7%
$294,071
$294.1K
Cap Rate 9%
$228,722
$228.7K
Market Conditions
NOI Build-Up for 1,580 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
$39.8K $25.20/SF
− Vacancy
−$2.4K −$1.51/SF
EGI
$37.4K $23.69/SF
− OpEx
−$16.8K −$10.66/SF
NOI
$20.6K $13.03/SF
Area
Baltimore, MD
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%
$411,700
Cap Rate 7%
$294,071
Cap Rate 9%
$228,722
Alternative Uses
Best Use
Apartment 5plus
$294.1K
$257.3K – $343.1K
NOI $20,585 @ 7.0% cap · market cap 4.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$378.5K
$331.2K – $441.6K
NOI $26,497 @ 7.0% cap · market cap 5.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
4,367
Businesses Nearby
Explore this area
Business Placement
Demographics for 21202, MD
22,247
Population
12,731
Households
1.7
Avg Household Size
33
Median Age
48%
College-Educated
86%
High-School Grad
1.6 sq mi
ZIP Area
13,904
Density / Sq Mi
$61,578
Median Household Income
$53,609
Median Earnings
$1,497
Median Rent
$307,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Corner residence with loft-style finishes, dedicated parking, and a fully equipped kitchen in a boutique condominium setting.
Where is this residential income property located?
The property is located at 850 ALICEANNA STREET Unit 305 Baltimore, MD.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath corner residence; Fully furnished with two assigned parking spaces; Loft‑style interior with concrete ceilings and exposed ductwork
