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2224 EUTAW PLACE

BALTIMORE , MD 21217

MLS#: MDBA2177690

$550,000

Status: Active
Listing number: MDBA2177690
Listing provided by: Samson Properties
Listing agent phone: None
Last update: 3 days ago
Browse Properties
EUTAW PLACE-MADISON AVENUE HISTORIC DISTRICT - Residential Income

Property

Beds

6

Full Baths

None

1/2 Baths

None

Year Built

1907

Sq.Footage

4,688

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.

Features & Amenities

Interior

  • Other Interior Features

    Other

  • Total Bedrooms

    6

  • Bathrooms

    N/A

  • Above Grade Finished Area

    3888.0

  • Basement YN

    YES

  • Cooling YN

    YES

  • Cooling

    Central Air, Multi Units, Electric

  • Fireplace YN

    NO

  • Heating YN

    YES

  • Heating

    Natural Gas, Radiant

Exterior

  • Garage

    No

  • Construction Materials

    Brick

  • Parking

    On Street

  • Pool

    Yes

  • Pool Features

    None

  • Waterfront YN

    NO

  • View

    City

Area & Lot

  • Lot Size(acres)

    0.06

  • Property Type

    Residential Income

  • Property Sub Type

    Triplex

  • Architectural Style

    Other

Price

  • Sales Price

    $550,000

  • Tax Amount

    8178.0

  • Sq. Footage

    4, 688

  • Price/SqFt

    $117

HOA

  • Association

    No

School District

  • Elementary School

    N/A

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Foundation Details

    Other

  • Sewer

    Public Sewer

  • Tax Lot

    013

  • Water Source

    Public

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Listing Courtesy of Michael Paul Wade , Samson Properties

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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.

2224 EUTAW PLACE

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