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Property profile & analytics
OFF-MARKET
Estimated value
$655,000
Investment properties
403 Charles St Baltimore, MD 21201-4409
Entity Owned
1-yr Hold
Free & Clear
Property ID
US40-1385230
Property summary
AI-generated overview
2 units previously used as offices and a retail space on the main level. There is currently a tenant in the retail space on the main level and a residential tenant in the upper level 2 unit. All other units are vacant. The owner's unit on upper level 1 includes 2 bedrooms
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1920
Construction
BRICK
Total area
8,440 SF
Lot
0.08 ac (3,276 SF)
Zoning code
C-5HT
APN
04-01-0566 -002
UPID
US40-1385230
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
The Doll House Boutique Clothing Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$854k
Blend (final)
Blend
$655k
Owner & transaction history
Gfd Developers LLC · 1 yrs held
Gfd Developers LLC
since 2025
Last sale
$580,350
2 recorded transactions
Zoning & alternative use
C-5HT · Baltimore, MD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$1.1M
+7.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Baltimore submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Baltimore submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$575,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,020,000
Current use
APARTMENT HOUSE (5+ UNITS)
$1,090,000
Change: +7% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$925,000
Change: -9% · Conversion: Moderate
Blend value · Realmo final
$655k
Range $590k – $721k · ±10% · vs last sale $580k (May 22 2025)
Last sale anchor
$580k
May 22 2025
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$78 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$10,155
Tax year 2023
Assessed value
$430,300
Assessed 2023
Previous assessed
$415,200
+3.6% YoY
Effective rate
2.36%
On assessed value
Land market value
$163,800
Improvement market value
$281,600
Total market value
$445,400
Applied tax rate
4.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1920
Construction
BRICK
Heating
FORCED AIR
Cooling
YES
Stories
4
Units
1
Total area
8,440 SF
Lot
0.08 ac (3,276 SF)
Zoning code
C-5HT
APN
04-01-0566 -002
UPID
US40-1385230
Jurisdiction
BALTIMORE CITY
Zoning & alternative use
C-5HT · Baltimore, MD
Zoning C-5HT · permitted uses
C-5HT · Baltimore, MD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Baltimore. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.1M
INDUSTRIAL (GENERAL)
Est. value
$925,000
COMMERCIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1920
Construction
BRICK
Heating
FORCED AIR
Cooling
Yes
Stories
4
Units
1
Lot
0.08 ac
Current owner
From public records · entity-resolved
Gfd Developers LLC
Entity
Free & Clear · 1 yrs held
Mailing address
403 N CHARLES ST, BALTIMORE, MD 21201-4409
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 22, 2025
$580,350
Gfd Developers LLC
Sharon Bogdanoff
Deed
—
May 31, 2012
—
Anne Arundel Properties Old
Anne Arundel Properties INC
Quit Claim Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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