Well-Maintained Two-Unit
923 1st Street Baltimore, MD 21225
923 1st Street, Baltimore, MD, 21225
$165,000
For Sale
$165,000
Two-unit property with tenant-occupied lower unit and vacant upper unit.
Property Size1,104 SF
Price / SF$149.46
Days on Market122
Property Features for 923 1st Street
General Information
- Standard status
- Active
- Size
- 1,104 SF
- Property subtype
- Residential / Ground Rent
Building Details
- Year Built
- 1948
Listing Agency
Pickwick Realty
(443) 764-3056
Listed by
Gavriel Khoshkheraman · License #5002747
(443) 764-3056
Source
Compass
Added: Mar 18 Checked: Jul 17 at 3:53 am
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 Pickwick Realty
Investment Insights
Based on property information with market context.
This well-maintained two-unit property presents an opportunity for investment or owner-occupancy. The lower unit is currently tenant-occupied, generating an annual income of $13,368, with the tenant responsible for all utilities. The upper unit is vacant, offering the potential for additional rental income. Located in Baltimore, within Anne Arundel County, this property is situated outside the city limits and falls within the Anne Arundel County Public Schools district. The property size is 1104 square feet.
Key Highlights
- Tenant‑occupied lower unit generates $13,368 annual income ($1,114/month) with tenant paying all utilities.
- Vacant upper unit provides immediate rental income potential.
- Suitable for investors or owner‑occupiers seeking mortgage assistance.
Local Financial Insights For Apartment 5plus
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 | $27.8k | $25.20 |
| − Vacancy | −$1.7k | −$1.51 |
| EGI | $26.2k | $23.69 |
| − OpEx | −$11.8k | −$10.66 |
| NOI | $14.4k | $13.03 |
1,104 SF · lease $25.20/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$231.6K
$202.7K – $270.2K
NOI $16,213 @ 7.0% cap · market cap 9.83%
Second Best
Apartment 5plus
$205.5K
$179.8K – $239.7K
NOI $14,383 @ 7.0% cap · market cap 8.72%
Theoretical Best
Office A
$264.5K
$231.4K – $308.6K
NOI $18,514 @ 7.0% cap · market cap 11.22%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two-unit property with tenant-occupied lower unit and vacant upper unit.
Where is this duplex located?
The property is located at 923 1st Street Baltimore, MD.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: Tenant‑occupied lower unit generates $13,368 annual income ($1,114/month) with tenant paying all utilities.; Vacant upper unit provides immediate rental income potential.; Suitable for investors or owner‑occupiers seeking mortgage assistance.
