Updated Two-Unit Duplex with Rooftop
For Sale
$350,000
917 CHAUNCEY AVENUE, Baltimore, MD 21217
Updated two-unit duplex with separate unit access, in-unit laundry, hardwood floors, tall ceilings, and a rooftop deck.
Property Size2,376 SF
Price / SF$147.31
Days on Market23
Property Features for 917 CHAUNCEY AVENUE
General Information
Standard status
Active
Size
2,376 SF
Property subtype
Duplex
Units
Unit Mix
1 x 1BR/1BA, 1 x 3BR/2BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
front patio
covered porch
rear deck
rooftop deck
in-unit laundry
secure shared foyer
unfinished basement with half bath
Building Details
Year Built
1922
Buildings
1
Listing Agency:
Northrop Realty
(443) 694-7858
Listed By:
Rachael E Siani · License #5009032
(443) 694-7858
Source:
Cummingsrealtors
Added: Jul 20
Changed: Aug 11
Last Checked: Aug 10 at 7:52AM
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 Northrop Realty
Investment Insights
Based on property information with market context.
Updated two-unit duplex offers separate access to each apartment through a secure shared foyer. A front patio and covered porch add outdoor space, while fresh interior paint supports an owner-occupant or investor setup with rental income potential. Inside, both units feature abundant natural light, tall ceilings, and hardwood floors with open-concept layouts. Each apartment includes in-unit laundry.
Apartment 1 is on the entry level with one bedroom and one full bathroom, plus an updated kitchen with granite countertops, a tile backsplash, soft-close cabinetry, and a dining area that opens to a rear deck. Apartment 2 spans the second and third levels, including three bedrooms and two full bathrooms. The main living level features a spacious living room, a kitchen with granite countertops, a tile backsplash and pantry, dining area, and two bedrooms plus a full bathroom. The top level provides a private primary suite with an en-suite bathroom and rooftop deck access.
An expansive unfinished basement includes a half bathroom and offers storage or workshop space. Built in 1922, the property totals 2,376 SF and is located at 917 Chauncey Avenue in the Reservoir Hill neighborhood, with nearby access to MICA, Johns Hopkins University, Coppin State University, the University of Baltimore, downtown Baltimore, and multiple public transportation options.
Apartment 1 is on the entry level with one bedroom and one full bathroom, plus an updated kitchen with granite countertops, a tile backsplash, soft-close cabinetry, and a dining area that opens to a rear deck. Apartment 2 spans the second and third levels, including three bedrooms and two full bathrooms. The main living level features a spacious living room, a kitchen with granite countertops, a tile backsplash and pantry, dining area, and two bedrooms plus a full bathroom. The top level provides a private primary suite with an en-suite bathroom and rooftop deck access.
An expansive unfinished basement includes a half bathroom and offers storage or workshop space. Built in 1922, the property totals 2,376 SF and is located at 917 Chauncey Avenue in the Reservoir Hill neighborhood, with nearby access to MICA, Johns Hopkins University, Coppin State University, the University of Baltimore, downtown Baltimore, and multiple public transportation options.
Key Highlights
- Two‑unit duplex with separate access via secure shared foyer
- Rooftop deck access from Apartment 2 primary suite
- Front patio and covered porch plus rear deck off Apartment 1 dining area
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
$30,955
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
8.84%
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%
$619,100
$619.1K
Cap Rate 7%
$442,214
$442.2K
Cap Rate 9%
$343,944
$343.9K
Market Conditions
NOI Build-Up for 2,376 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
$59.9K $25.20/SF
− Vacancy
−$3.6K −$1.51/SF
EGI
$56.3K $23.69/SF
− OpEx
−$25.3K −$10.66/SF
NOI
$31.0K $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%
$619,100
Cap Rate 7%
$442,214
Cap Rate 9%
$343,944
Alternative Uses
Best Use
Multifamily LT 5
$498.5K
$436.2K – $581.5K
NOI $34,892 @ 7.0% cap · market cap 9.97%
Second Best
Apartment 5plus
$442.2K
$386.9K – $515.9K
NOI $30,955 @ 7.0% cap · market cap 8.84%
Theoretical Best
Office A
$569.2K
$498.1K – $664.1K
NOI $39,846 @ 7.0% cap · market cap 11.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,004
Businesses Nearby
Explore this area
Business Placement
Demographics for 21217, MD
30,448
Population
20,064
Households
1.5
Avg Household Size
38
Median Age
22%
College-Educated
83%
High-School Grad
2.1 sq mi
ZIP Area
14,499
Density / Sq Mi
$37,207
Median Household Income
$40,668
Median Earnings
$1,065
Median Rent
$175,900
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 - Updated two-unit duplex with separate unit access, in-unit laundry, hardwood floors, tall ceilings, and a rooftop deck.
Where is this duplex located?
The property is located at 917 CHAUNCEY AVENUE Baltimore, MD.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two‑unit duplex with separate access via secure shared foyer; Rooftop deck access from Apartment 2 primary suite; Front patio and covered porch plus rear deck off Apartment 1 dining area
