2528 Maryland Avenue
Baltimore, MD 21218
$380,000
Price
—
Beds
2,520 Sq. Ft.
$151 / Sq. Ft.
2,520
Sq. Ft.
$151
per Sq. Ft.
Description
> Prime Location Near Johns Hopkins University: Just four blocks from the Homewood Campus, these apartments are highly sought after by young professionals and students alike.
> Value-Add Potential: Opportunity to upgrade apartments and significantly raise rents in this high-demand area.
> Utility Pass-Throughs in Place: Tenants cover 100% of water, gas, and electric costs, enhancing cash flow and boosting overall.
> Walkable Convenience: Positioned between the Charles Village Shopping District and 25th...> Prime Location Near Johns Hopkins University: Just four blocks from the Homewood Campus, these apartments are highly sought after by young professionals and students alike.
> Value-Add Potential: Opportunity to upgrade apartments and significantly raise rents in this high-demand area.
> Utility Pass-Throughs in Place: Tenants cover 100% of water, gas, and electric costs, enhancing cash flow and boosting overall.
> Walkable Convenience: Positioned between the Charles Village Shopping District and 25th Street’s bustling retail scene, tenants can accomplish most errands on foot. A spacious, inviting hallway with an impressive wooden staircase creates a welcoming atmosphere for tenants and visitors. Kitchens are designed with laminate countertops and a variety of cabinetry styles, from modern wood to European-inspired options, offering low-maintenance durability and visual appeal. Living spaces feature a mix of wood and laminate flooring, while bathrooms are equipped with functional, modern vanities or wall-mounted sinks and durable vinyl tub surrounds. The basement and third-floor apartments include dens, adding valuable living space. The office occupies the entire first floor, featuring a private front room that overlooks the tree-lined Maryland Avenue. A larger office area is situated in the rear, accompanied by a half bathroom and a storage room. Both rooms are enhanced by decorative mantles and large windows, creating bright, inspiring workspaces. A central boiler provides heating for all units, with hot water baseboard heat in the basement apartment and hot water radiator distribution for the upper-floor apartments. Two air handlers cool the units: one serves the basement and first floor, while the other serves the second and third floors. A central State Select 40-gallon gas-fired water heater supplies hot water. Observable water supply lines are copper or C-PVC, and observable drain lines are PVC. The property has one electric meter and one gas meter. The landlord bills back for all utilities, keeping monthly utility costs down and more cash in hand. This mixed-use 4-unit in Charles Village is located just four blocks south of Johns Hopkins University Homewood campus, and three blocks south of Wyman Park Dell. Tenants enjoy a quick walk to the Charles Village Shopping District or Safeway grocery store, and I-83 provides a quick commute to downtown Baltimore. 2528 Maryland Avenue garners a “Walker’s Paradise” designation, with a 91 Walk Score and an 89 Bike Score, being located along the Maryland Avenue Cycle Track. RHouse, Remington’s trendy food hall, is home to popular stalls like Creole Soul and Koshary Corner and is within a 5-minute walk. Investment Summary:
$380,000
$95,000 Per Unit
$151 Per Sq. Ft.
7.3 Times Market Rents (GRM)
9.07% Cap Rate
10.0% Projected Cash-on-Cash Return
> Value-Add Potential: Opportunity to upgrade apartments and significantly raise rents in this high-demand area.
> Utility Pass-Throughs in Place: Tenants cover 100% of water, gas, and electric costs, enhancing cash flow and boosting overall.
> Walkable Convenience: Positioned between the Charles Village Shopping District and 25th...> Prime Location Near Johns Hopkins University: Just four blocks from the Homewood Campus, these apartments are highly sought after by young professionals and students alike.
> Value-Add Potential: Opportunity to upgrade apartments and significantly raise rents in this high-demand area.
> Utility Pass-Throughs in Place: Tenants cover 100% of water, gas, and electric costs, enhancing cash flow and boosting overall.
> Walkable Convenience: Positioned between the Charles Village Shopping District and 25th Street’s bustling retail scene, tenants can accomplish most errands on foot. A spacious, inviting hallway with an impressive wooden staircase creates a welcoming atmosphere for tenants and visitors. Kitchens are designed with laminate countertops and a variety of cabinetry styles, from modern wood to European-inspired options, offering low-maintenance durability and visual appeal. Living spaces feature a mix of wood and laminate flooring, while bathrooms are equipped with functional, modern vanities or wall-mounted sinks and durable vinyl tub surrounds. The basement and third-floor apartments include dens, adding valuable living space. The office occupies the entire first floor, featuring a private front room that overlooks the tree-lined Maryland Avenue. A larger office area is situated in the rear, accompanied by a half bathroom and a storage room. Both rooms are enhanced by decorative mantles and large windows, creating bright, inspiring workspaces. A central boiler provides heating for all units, with hot water baseboard heat in the basement apartment and hot water radiator distribution for the upper-floor apartments. Two air handlers cool the units: one serves the basement and first floor, while the other serves the second and third floors. A central State Select 40-gallon gas-fired water heater supplies hot water. Observable water supply lines are copper or C-PVC, and observable drain lines are PVC. The property has one electric meter and one gas meter. The landlord bills back for all utilities, keeping monthly utility costs down and more cash in hand. This mixed-use 4-unit in Charles Village is located just four blocks south of Johns Hopkins University Homewood campus, and three blocks south of Wyman Park Dell. Tenants enjoy a quick walk to the Charles Village Shopping District or Safeway grocery store, and I-83 provides a quick commute to downtown Baltimore. 2528 Maryland Avenue garners a “Walker’s Paradise” designation, with a 91 Walk Score and an 89 Bike Score, being located along the Maryland Avenue Cycle Track. RHouse, Remington’s trendy food hall, is home to popular stalls like Creole Soul and Koshary Corner and is within a 5-minute walk. Investment Summary:
$380,000
$95,000 Per Unit
$151 Per Sq. Ft.
7.3 Times Market Rents (GRM)
9.07% Cap Rate
10.0% Projected Cash-on-Cash Return
- Listed by Will A Cannon III • Ben Frederick Realty, Inc.P: (410)-916-3331 will@benfrederick.com
- Listed by Cheryl L, Sadera • Ben Frederick Realty, Inc.P: (410)-688-1348 cheryl@benfrederick.com
Property Details for 2528 Maryland Avenue
Tax ID Number
0312043635 015
OwnershipGround Rent
Structure TypeInterior Row/Townhouse
StyleConverted Dwelling
WaterfrontNo
GarageNo
SubdivisionCHARLES VILLAGE
SubdivisionCHARLES VILLAGE (BALTIMORE CITY MD)
LISTING UPDATED: 12/06/2024 12:58 PM
Property Details for 2528 Maryland Avenue
| Status | Active |
|---|---|
| MLS # | MDBA2149726 |
| Days on Market | 12 |
| Taxes | $5,859 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Multi-Family / Ground Rent |
| Year Built | 1900 |
| Lot Size | 0.03 AC / 1,360 SF |
| County | Baltimore Independent City |
Building Information for 2528 Maryland Avenue
Stories-Residences4Year Built1900Building Size-Lot Size0.03 AC / 1,360 SF
Property Information for 2528 Maryland Avenue
Location
Location
- In City Limits: Yes
- School District Name: BALTIMORE CITY PUBLIC SCHOOLS
- School District County ID: 121137830454
- SchoolDistrictSource: Listing Agent
- County: BALTIMORE CITY
Waterfront / Water Access
Waterfront / Water Access
- Water View: No
- Water Access: No
- Water Oriented: No
- Navigable Water: No
- Tidal Water: No
- Riparian Rights Y/N: No
Taxes and Assessment
Taxes and Assessment
- Tax Year: 2024
- Tax Assessed Value: $248,267
- Year Assessed: 2024
- County Tax: $278
- Improvement Assessed Value: $132,600
- City Town Tax: $5,581
- Land Assessed Value: $90,000
- Clean Green Assessed: No
- Land Use Code: R
- Section: 04
- Zoning: OR-2
- Zoning Dscrp: Licensed for 3 Dwelling Units.
- Tax Lot: 015
- School Tax: $0
- Automatically Update Tax Values Y/N: Yes
Unit Information
Unit Information
- Single Room Units Count: 0
- One Bedroom Units Count: 3
- Two Bedroom Units Count: 0
- Three Bedroom Units Count: 0
- Units Leased Count: 4
Financial Information
Financial Information
- Annual Rental Income: $42,360
Building Info
Building Info
- Building Units Total: 4
- Total Finished SQFT: 2,520.00
- Total Finished SQFT Source: Assessor
- Tax Total Finished SQFT: 2,520.00
- Total SQFT: 3,440.00
- Total SQFT Source: Assessor
- Construction Materials: Brick
- Foundation Details: Block
- Other Structure: Above Grade, Below Grade
Lot / Land Information
Lot / Land Information
- Lot Size Source: Estimated
- Lot Size Dimensions: 16'9" x 85'
- Lot Dimensions Source: Estimated
- Parcel ID: 12951974
- Ground Rent Amount: $120
- Ground Rent Payment Frequency: Semi-Annually
- Capitalized Value-Ground Rent: $2,000
- Ground Rent Years Remaining: 99
Parking
Parking
- Type Of Parking: Off Street
- Off Street - # of Spaces: 1
Interior Features
Interior Features
- Fireplace: No
- Accessibility Features: None
Exterior Features
Exterior Features
- Pool: No Pool
Utilities
Utilities
- Heating: Yes
- Cooling Type: Central A/C
- Cooling Fuel: Electric
- Heating Type: Radiator
- Heating Fuel: Natural Gas
- Hot Water: Natural Gas
- Water Source: Public
- Sewer Septic: Public Sewer
Confidential Data
Listing Office
- List Agent AOR: Greater Baltimore Board of REALTORS
Property History for 2528 Maryland Avenue
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 2528 Maryland Avenue
Taxable ValueLand-Additions-Total-
Tax Record2023$5,556 ($463 / month)
Home Facts
Beds0Baths3.5Total Finished SqFt2,520 SqFtAbove Grade Finished SqFt2,520 SqFtStories3Lot Size1,424 SqFtStyleTownhouseYear Built1900ZoningOR-2CountyBALTIMORE CITYAPN12-04-3635 -015Fireplace TypeHas Fireplace
Schools near 2528 Maryland Avenue
This home is within Baltimore City Public Schools.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 8 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Margaret Brent Elementary School PublicPK to 8 | ||
Booker T. Washington Middle School Public6 to 8 | ||
Paul Laurence Dunbar High School Public9 to 12 | ||
Frederick Douglass High School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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Listing Courtesy of Ben Frederick Realty, Inc.
© 2024 Bright MLS. All rights reserved. All information is deemed reliable, but accuracy is not guaranteed. Listing information is from various brokers who participate in IDX and not all listings may be visible on the site. The property information being provided is for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated on 12/06/2024 12:58 PM