Corner Duplex with Exposed
New
For Sale
$395,000
901 S EAST Avenue, Baltimore, MD 21224
Multi-Family, BALTIMORE, MD
Property Size2,256 SF
Lot Size0.03 Acres
Price / SF$175.09
Days on Market4
Property Features for 901 S EAST Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Family Room
Parking features
On Street
Interior features
Bathroom - Tub Shower, Carpet, Entry Level Bedroom, Exposed Beams, Family Room Off Kitchen, Floor Plan - Open, Kitchen - Eat-In, Kitchen - Table Space, Stain/Lead Glass, Wood Floors
Appliances
Dryer, Refrigerator, Stove, Washer, WaterHeater
Subdivision
CANTON
Elementary school district
BALTIMORE CITY PUBLIC SCHOOLS
Middle school district
BALTIMORE CITY PUBLIC SCHOOLS
High school district
BALTIMORE CITY PUBLIC SCHOOLS
Standard status
Active
Size
2,256 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
6938
Utilities
Heating system
Other (Heating)
Cooling system
Window Unit(s)
Building Details
Year built
1920
Number of units
2
Building materials
Brick
Architectural style
Federal
Listing Agency:
Cummings & Co. Realtors
(410) 823-0033
Listed By:
Lisa F Ciofani · License #575711
(410) 960-4555
Added: Aug 28
Changed: Aug 29
Last Checked: Aug 31 at 4:06AM
MLS# MDBA2228506
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1920 brick duplex contains two residential apartments, each with its own entrance, kitchen, bedroom, and full bathroom. The first-floor unit includes a living room, eat-in kitchen, basement access, laundry and storage space, and an additional half bath. The upper apartment features exposed brick, a vaulted ceiling, a separate utility and HVAC room, and a small porch. Window units provide cooling, and the property includes in-unit appliances such as refrigerators, stoves, washers, and dryers.
The building occupies a corner position at East Avenue and Hudson Street in Baltimore’s Canton community and measures approximately 16 feet wide by 75 feet deep. It is zoned R-8 with a stated non-conforming use. Separate gas and electric meters serve the apartments, while water is shared; the owner pays common-area electric. The property is registered with lead certifications, including one unit certified lead-free. It is offered as-is, with the first-floor tenant’s lease extending through March 2027.
The building occupies a corner position at East Avenue and Hudson Street in Baltimore’s Canton community and measures approximately 16 feet wide by 75 feet deep. It is zoned R-8 with a stated non-conforming use. Separate gas and electric meters serve the apartments, while water is shared; the owner pays common-area electric. The property is registered with lead certifications, including one unit certified lead-free. It is offered as-is, with the first-floor tenant’s lease extending through March 2027.
Key Highlights
- Two residential apartments with separate entrances
- 1920 brick Federal‑style duplex with exposed brick and vaulted ceiling
- Corner property at East Avenue and Hudson Street
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
$29,548
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
7.48%
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%
$590,960
$591.0K
Cap Rate 7%
$422,114
$422.1K
Cap Rate 9%
$328,311
$328.3K
Market Conditions
NOI Build-Up for 2,256 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
$44.7K $19.80/SF
− Vacancy
−$2.5K −$1.09/SF
EGI
$42.2K $18.71/SF
− OpEx
−$12.7K −$5.61/SF
NOI
$29.5K $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%
$590,960
Cap Rate 7%
$422,114
Cap Rate 9%
$328,311
Alternative Uses
Best Use
Multifamily LT 5
$422.1K
$369.4K – $492.5K
NOI $29,548 @ 7.0% cap · market cap 7.48%
Second Best
Apartment 5plus
$391.2K
$342.3K – $456.4K
NOI $27,384 @ 7.0% cap · market cap 6.93%
Theoretical Best
Office A
$540.5K
$472.9K – $630.6K
NOI $37,833 @ 7.0% cap · market cap 9.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Yes
Utilities to site
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
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 residential units offer separate entrances, kitchens, bedrooms, and full bathrooms in a brick Federal-style property.
Where is this duplex located?
The property is located at 901 S EAST Avenue Baltimore, MD.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Two residential apartments with separate entrances; 1920 brick Federal‑style duplex with exposed brick and vaulted ceiling; Corner property at East Avenue and Hudson Street
