2405 Barclay St, Baltimore, MD 21218
- $350,000
- 20,000
- SqFt
- List Price
- $350,000
- MLS#
- MDBA2221274
- Year Built
- 1900
- Status
- ACTIVE
- Type
- Multifamily
- Living Area
- 20,000
- Total SqFt
- 20000
- County
- Baltimore City
- Subdivision
- Barclay
Property Description
2405 Barclay Street offers a unique opportunity for an owner-occupant seeking to build long-term wealth through real estate. By living in one apartment and renting the remaining two, a purchaser can offset a significant portion of the monthly housing expense while benefiting from rental income, principal reduction, and future appreciation. With three one-bedroom apartments, individual utilities, and below-market rents that offer future upside, the property provides both immediate housing and the opportunity to grow cash flow over time as apartments turn over. Example Owner-Occupant Financing Scenario* ●3.5% Down Payment ●Purchase Price: $369,000 ●Loan Amount: $356,085 ●Interest Rate: 6.00% ●30-Year Fixed Mortgage ●Estimated Monthly PITI + Mortgage Insurance: $3,064 ●Rental Income from Two Apartments: $2,600/month ●Estimated Monthly Housing Cost for Owner: Approximately $464/month *Illustrative financing example only. Financing programs, down payment requirements, occupancy requirements, and loan approval vary by lender. For investors, at $116,667 per unit, 2405 Barclay Street offers a lower-cost opportunity to acquire a three-unit apartment building in one of central Baltimore's most renter-supported neighborhoods. Recent census data indicates that 58% of neighborhood households rent their homes, while the surrounding housing stock remains predominantly single-family, helping support continued demand for apartment housing. Current rents remain below market, creating an opportunity to increase income as apartments turn over. For an investor utilizing conventional financing with a 20% down payment, the property produces a projected 8.75% capitalization rate and a 10.2% cash-on-cash return at market rents, illustrating the long-term income potential available through market rent alignment.
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Additional Information
- Other Structures
- Above Grade, Below Grade
- Structure List
- Above Grade, Below Grade
- Style
- Converted Dwelling
- Basement
- Yes
- Cooling Fuel
- Electric
- Cooling
- Central A/C
- Heating Fuel
- Electric
- Heating
- Heat Pump(s)
- Hot Water
- Electric
- Sewer Septic
- Public Sewer
- Water
- Public
- Tax Year
- 2025
- Possession
- Settlement, Subject to Existing Lease
- Days on Market
- 31
- Acres
- 0.03
- Ownership
- Ground Rent
Mortgage Calculator
Listing courtesy of Ben Frederick Realty, Inc.. Contact: 4102359500