Quadplex with Separate
For Sale
$440,000
BALTIMORE, MD 21218, Baltimore, MD 21218
Multi-Family, BALTIMORE, MD
Property Size3,170 SF
Price / SF$138.80
Days on Market73
Property Features
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Rooms
Basement
Parking features
On Street
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
3,170 SF
Additional Details
Individually Metered Utilities
gas, electricity
Taxes and HOA fees
Tax Annual Amount
10856
Utilities
Heating system
Other (Heating)
Cooling system
Central Air
Building Details
Year built
1900
Number of units
4
Building materials
Brick
Architectural style
Other
Listing Agency:
Fairfax Realty Premier
(301) 439-9500
Listed By:
Salina D Joyner · License #597461
(301) 379-8533
Added: Aug 19
Changed: Oct 29
Last Checked: Oct 30 at 3:06AM
MLS# MDBA2228176
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.
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Investment Insights
Based on property information with market context.
This 3,170-square-foot brick quadplex contains four apartments, with one residence on each floor. Built in 1900, the property includes a basement and central air conditioning. Each apartment has its own gas-fired forced-air furnace and water heater, along with separate gas and electric meters. Tenants pay for water. Existing kitchens include gas ranges, stainless steel sinks, laminate counters, and a mix of wood and metal cabinets; bathroom layouts include three tubs and one stand-up shower. Renovation work is needed, and the building is currently vacant.
The property is three blocks from Johns Hopkins University's Homewood campus in Charles Village. Nearby destinations identified include Charles Village shopping and dining, Union Memorial Hospital, local parks, restaurants, and neighborhood amenities. Parking is on street.
The property is three blocks from Johns Hopkins University's Homewood campus in Charles Village. Nearby destinations identified include Charles Village shopping and dining, Union Memorial Hospital, local parks, restaurants, and neighborhood amenities. Parking is on street.
Key Highlights
- Four apartments, each occupying an entire floor
- 3,170 square feet in a brick building constructed in 1900
- Separate gas and electric meters for all four apartments; tenants pay for water
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,777
Cap Rate
8.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$735,540
$735.5K
Cap Rate 7%
$525,386
$525.4K
Cap Rate 9%
$408,633
$408.6K
Market Conditions
NOI Build-Up for 3,170 SF
Gross rent
$71.5K $22.56/SF
− Vacancy
−$4.6K −$1.47/SF
EGI
$66.9K $21.09/SF
− OpEx
−$30.1K −$9.49/SF
NOI
$36.8K $11.60/SF
Area
ZIP 21218
Vacancy
6.50%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$735,540
Cap Rate 7%
$525,386
Cap Rate 9%
$408,633
Alternative Uses
Best Use
Multifamily LT 5
$588.9K
$515.3K – $687.1K
NOI $41,225 @ 7.0% cap · market cap 9.37%
Second Best
Apartment 5plus
$525.4K
$459.7K – $613.0K
NOI $36,777 @ 7.0% cap · market cap 8.36%
Theoretical Best
Office A
$861.9K
$754.1K – $1.01M
NOI $60,331 @ 7.0% cap · market cap 13.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,126
Businesses Nearby
Explore this area
Business Placement
Demographics for 21218, MD
46,238
Population
21,751
Households
2.1
Avg Household Size
34
Median Age
44%
College-Educated
90%
High-School Grad
4.3 sq mi
ZIP Area
10,753
Density / Sq Mi
$58,378
Median Household Income
$38,316
Median Earnings
$1,239
Median Rent
$229,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four full-floor apartments have individual heating equipment and separately metered gas and electricity.
Where is this quadplex located?
The property is located at Baltimore, MD.
What is the asking price?
The asking price for this property is $440,000.
What are key features of this property?
This property features: Four apartments, each occupying an entire floor; 3,170 square feet in a brick building constructed in 1900; Separate gas and electric meters for all four apartments; tenants pay for water
