Two-Unit Townhome
For Sale
$295,000
902 Elm Ridge Ave, Baltimore, MD 21229
Occupied residential income property with month-to-month tenancy and practical layouts suited to rental operations.
Property Size1,350 SF
Price / SF$218.52
Days on Market53
Property Features for 902 Elm Ridge Ave
General Information
Standard status
Active
Size
1,350 SF
Property subtype
Multi-Family
Occupancy
100%
Site & Location
Neighborhood
Cooperative Community Development Inc
Additional Details
Multifamily Units
2
Building Details
Year Built
1948
Buildings
1
Tenancy
Multi
Listing Agency:
Cummings & Co. Realtors
Listed By:
Bradley Morsberger · License #650399
(443) 257-1433
Source:
Vinsonproperties
Added: Sep 9
Changed: Oct 26
Last Checked: Oct 30 at 6:55PM
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 Cummings & Co. Realtors
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Investment Insights
Based on property information with market context.
This 1,350-square-foot duplex townhome, built in 1948, contains two residential units with functional floor plans. Both units are occupied under month-to-month tenancy, providing an established rental setup with flexibility in future leasing decisions.
The property is located at 902 Elm Ridge Ave in Baltimore, near major commuter routes, shopping, and local amenities. Its two-unit configuration supports residential income use while also accommodating an owner-occupant arrangement, subject to applicable requirements.
The property is located at 902 Elm Ridge Ave in Baltimore, near major commuter routes, shopping, and local amenities. Its two-unit configuration supports residential income use while also accommodating an owner-occupant arrangement, subject to applicable requirements.
Key Highlights
- Two‑unit duplex townhome configuration
- 1,350 square feet of residential space
- Both units currently occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,085
Cap Rate
6.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$381,700
$381.7K
Cap Rate 7%
$272,643
$272.6K
Cap Rate 9%
$212,056
$212.1K
Market Conditions
NOI Build-Up for 1,350 SF
Gross rent
$29.2K $21.60/SF
− Vacancy
−$1.9K −$1.40/SF
EGI
$27.3K $20.20/SF
− OpEx
−$8.2K −$6.06/SF
NOI
$19.1K $14.14/SF
Area
ZIP 21229
Vacancy
6.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$381,700
Cap Rate 7%
$272,643
Cap Rate 9%
$212,056
Alternative Uses
Best Use
Multifamily LT 5
$272.6K
$238.6K – $318.1K
NOI $19,085 @ 7.0% cap · market cap 6.47%
Second Best
Apartment 5plus
$251.3K
$219.9K – $293.1K
NOI $17,588 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$321.9K
$281.6K – $375.5K
NOI $22,530 @ 7.0% cap · market cap 7.64%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
641
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Occupied residential income property with month-to-month tenancy and practical layouts suited to rental operations.
Where is this duplex located?
The property is located at 902 Elm Ridge Ave Baltimore, MD.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Two‑unit duplex townhome configuration; 1,350 square feet of residential space; Both units currently occupied
