Baltimore, MD 21217,2224 EUTAW PL
Baltimore, MD 21217,2224 EUTAW PL
Baltimore, MD 21217,2224 EUTAW PL
Baltimore, MD 21217,2224 EUTAW PL
Baltimore, MD 21217,2224 EUTAW PL
Baltimore, MD 21217,2224 EUTAW PL
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Listed by Michael Paul Wade • Samson Properties
$ 550,000
Est. payment | /mo

4,688 SqFt


Save
$ 550,000
Est. payment | /mo
Save

4,688 SqFt

Key Details

Property Type Multi-Family, Townhouse

Sub Type Interior Row/Townhouse

Listing Status Active

Purchase Type For Sale

Square Footage 4,688 sqft

Price per Sqft $117

Subdivision Eutaw Place-Madison Avenue Historic District

MLS Listing ID MDBA2177690

Style Other

Abv Grd Liv Area 3,888

Year Built 1907

Annual Tax Amount $8,178

Tax Year 2024

Lot Size 2,713 Sqft

Acres 0.06

Property Sub-Type Interior Row/Townhouse

Source BRIGHT

Property Description

Fully-leased three-unit rental property currently generating $3,989.95 in monthly rental income. This property offers immediate cash flow from established tenant relationships, supported by professional property management.

The building consists of three separate residential units, each currently occupied under active lease agreements. All units feature period architectural details typical of the neighborhood's historic character.

Current Monthly Income:
- Unit 1: 2BR/2BA - $1,400/month
- Unit 2: 2BR/2BA - $1,200/month
- Unit 3: 2BR/1BA - $1,389.95/month
- Total Monthly Income: $3,989.95
- Annual Gross Income: $47,879.40

Area Investment Fundamentals:
The property is situated adjacent to the $170 million Reservoir Square development, which, according to released projections, features 120 market-rate townhomes starting at $ 350,000, a full-service Streets Market grocery store, over 200 apartments, and office/retail space. The $44 million Mayor's Office of Employment Development headquarters is scheduled for completion by 2026, bringing hundreds of municipal workers to the immediate area.

Baltimore's multifamily investment market has shown significant activity with transactions up 95% year-over-year. The local market has experienced 2.4% rent growth in 2024, with a projected 5% growth for 2025. Area vacancy rates of 5-6% remain below the metro average of 7.2%. Properties along Eutaw Place average $391,075 compared to the broader zip code median of $175,900. Please independently verify all numbers.

The neighborhood benefits from its proximity to multiple educational institutions, including the Maryland Institute College of Art (0.8 miles), the University of Baltimore (1.4 miles), and Coppin State University (1.7 miles), which provides consistent rental demand. Transit connectivity is rated with a Walk Score of 75, a Transit Score of 81, and a nine-minute walk to the Penn-North Metro Station.

This investment property offers diversified rental income across three units, with established rental rates and strong tenant relationships—all financial records, lease agreements, and property management details available during the due diligence period.

Location

State MD

County Baltimore City

Zoning R-7

Rooms

Basement Connecting Stairway, Outside Entrance, Full

Interior

Interior Features Other

Hot Water Natural Gas

Heating Radiator

Cooling Multi Units, Central A/C

Fireplace N

Heat Source Natural Gas

Exterior

Water Access N

View City

Accessibility None

Garage N

Building

Foundation Other

Sewer Public Sewer

Water Public

Architectural Style Other

Additional Building Above Grade, Below Grade

New Construction N

Schools

School District Baltimore City Public Schools

Others

Tax ID 0313083424 013

Ownership Fee Simple

SqFt Source Estimated

Special Listing Condition Standard

Bright MLS (BMLS)

GET MORE INFORMATION

agent
Melissa Young

Agent | License ID: 0787303

+1(267) 259-2432

129 CHESTER AVE., MOORESTOWN, Jersey, 08057, United States

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2224 EUTAW PL