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.… Read More 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* 25cf;3.5% Down Payment 25cf;Purchase Price: $369,000 25cf;Loan Amount: $356,085 25cf;Interest Rate: 6.00% 25cf;30-Year Fixed Mortgage 25cf;Estimated Monthly PITI + Mortgage Insurance: $3,064 25cf;Rental Income from Two Apartments: $2,600/month 25cf;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. Read Less
Courtesy of Thomas H Fair, Ben Frederick Realty, Inc. 410-235-9500
Listing Snapshot
Days Online
21
Last Updated
Property Type
Triplex
Square Ft.
20,000
Lot Size
0.03 Acres
Year Built
1900
MLS Number
MDBA2221274
Additional Details
Basement
Unfinished, Interior Access
Building
Built in 1900, Living area: 20000, Construction Materials: Brick
Cooling
Central A/C
Accessibility Features
None
Foundation
Stone
Heating
Heat Pump(s)
Lot
0.03 acres, Dimensions: 15' 86'
Property
Other structures: Above Grade, Below Grade
Sewer
Public Sewer
Taxes
Annual Amount: $3,894, Lot: 003, Year: 2025, Zoning: R-8, Zoning description: Licensed for 3 Dwelling Units
Utilities
Water Source: Public
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