Description
LIVE IN ONE APARTMENT FOR AN ESTIMATED $79/MONTH - OR INVEST AT A PROJECTED 10.21% CAP RATE AND 14.1% CASH-ON-CASH RETURN. Now offered at $300,000, 2405 Barclay Street creates two compelling paths for buyers. For an owner-occupant, the property now passes the FHA self-sufficiency test. With 3.5% down, projected rents of $2,600 per month from the other two apartments reduce the estimated monthly housing cost to $79. Ask us for details! For investors, current rents remain below market, creating an opportunity to increase income as apartments turn over, with projected market rents supporting a 10.21% cap rate and 14.1% cash-on-cash return. 2405 Barclay Street is a licensed three-unit apartment building consisting of three one-bedroom apartments. Each apartment has a practical layout and includes a stacked washer and dryer. Kitchens feature wood cabinetry, mostly laminate countertops, electric ranges, and stainless-steel sinks. Bathrooms include modern vanities and steel tubs with ceramic tile surrounds. Cosmetic improvements have been completed during current ownership. 2405 Barclay has a straightforward all-electric utility configuration. Each apartment is served by its own heat pump with central air conditioning and its own 40-gallon electric water heater. The building has four electric meters and tenants pay for their own electric usage. The water heaters were replaced in 2024. Located in Baltimore's Barclay neighborhood, the property is convenient to Johns Hopkins University, Penn Station, Charles Village, and the Station North Arts District. Recent census data indicates that 58% of neighborhood households rent their homes, while most of the surrounding housing stock consists of single-family residences. For apartment owners, this provides an established renter base without a high concentration of larger multifamily buildings. At $300,000, 2405 Barclay Street offers an opportunity for an owner-occupant to use rental income to substantially offset the cost of homeownership or for an investor to acquire three apartments with income in place and additional upside as rents move toward market.
Details
| MLS # | MDBA2221274 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active-bright |
| Year | 1900 |
| Days On Site | 105 |
| Listing Provided By | Ben Frederick Realty, Inc. | Will A Cannon III |
Features
| SQ Feet | 2,000 |
|---|---|
| Basement | Y |
| Units | 3 |
| Zoning | R-8 |
| Acreage | 0.03 |
Interior
| Cooling | Central A/C |
|---|---|
| Heating Yes / No | Yes |
| Heating | Heat Pump(s) |
Exterior
| Construction Materials | Brick |
|---|---|
| Foundation Details | Stone |
Parking
| Garage Yes / No | No |
|---|
Taxes
| Tax Annual Amount | 3894 |
|---|
Area Information
| State | MD |
|---|---|
| County | BALTIMORE CITY MD |
| City | BALTIMORE |
| Zip Code | 21218 |
| Area | BALTIMORE CITY MD |
| Community Name | BARCLAY |
| School District | BALTIMORE CITY PUBLIC SCHOOLS |
| Listing VS Median (in BARCLAY) | |
Price: $300,000 low | high Med: $400,000 sqft: 2,000 low | high Med: 2,017 $ / sqft: $150 low | high Med: $198 On site: 105 low | high Med: 77 | |
Market Activity 21218
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Learn More About This Property
| State | MD |
|---|---|
| County | BALTIMORE CITY MD |
| City | BALTIMORE |
| Zip Code | 21218 |
| Area | BALTIMORE CITY MD |
| Community Name | BARCLAY |
| School District | BALTIMORE CITY PUBLIC SCHOOLS |
| Listing VS Median (in BARCLAY) | |
Price: $300,000 low | high Med: $400,000 sqft: 2,000 low | high Med: 2,017 $ / sqft: $150 low | high Med: $198 On site: 105 low | high Med: 77 | |
 | $298,000319 E 24th StBaltimore, MD 21218 |
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