● 9.43% Day-One Cap Rate with Leases Through Spring 2026 — Solid in-place income at closing provides immediate stability and minimizes near-term turnover risk.
● Upside to 10.28% Cap Rate and 14.8% ROI — Projections achievable as market rents are realized through future lease renewals or turnovers.
● Above-Market Amenities — In-unit laundry, modern kitchens, and central air outperform typical Upton rentals, supporting premium rents and tenant demand.
Interiors:
This Upton Baltimore Duplex features two large 3-bedroom, 3-bathroom apartments, each with desirable tenant amenities. Kitchens are equipped with laminate counters, wood cabinets, 30” gas ranges, dishwashers, and built-in microwaves. Bathrooms include modern vanities, steel or fiberglass tubs with ceramic tile surrounds, and added value upgrades: Unit A offers a second full bath with shower stall, while Unit B includes a jetted soaking tub with walk-in shower. Apartments have drywall walls and ceilings, recessed lighting throughout, and laminate flooring in living areas with ceramic tile in kitchens and baths. Each unit has private in-suite laundry, appealing to long-term tenants.

Utilities:
The property is separately metered for both gas and electric, allowing tenants to pay their own utility bills, with no pesky public service bill for the landlord to manage. Heating and cooling are provided by two gas-fired furnaces with central air, and hot water is supplied by two electric-fired water heaters. Observable plumbing includes C-PVC supply lines with PVC drains. One tenant is currently billed back for water and sewer, and a savvy landlord would amend the other lease to follow suit.

The property’s amenities are A+ for the neighborhood, with modernized kitchens, in-unit laundry, and central air—features that many Upton rentals lack. These recent renovations not only give the property a competitive edge in attracting quality tenants but also position this Upton Baltimore Duplex to potentially achieve Limited Lead-Free or even Full Lead-Free certification. XRF testing would be required, but the short-term expense and any minor corrective work would be well worth the long-term benefits of risk reduction, fewer paperwork requirements, and lower turnover costs at each lease-up.

Legal Note:
Though licensed as two condominium units under R-8 zoning, the Seller owns both apartments. There is no active condo board, association, bylaws, reserves, or fees in place, so the property functions as a traditional 2-unit rental.

What’s Special About Upton?
Upton offers investors a unique balance: with 51% single-family homes and 49% multi-family housing, the neighborhood supports both stability and strong rental demand. Nearly two-thirds of households are renters, providing a deep tenant pool, while a meaningful homeowner presence helps sustain long-term property values. Just one block north, the Druid Hill YMCA offers state-of-the-art fitness facilities and pools, adding lifestyle appeal for tenants. Looking ahead, the 2026 Historic Upton Master Plan, aligned with the City’s Vacants to Value initiative, is driving economies of scale in redevelopment and attracting developer partnerships. For investors, this Upton Baltimore Duplex offers steady cash flow today with strong potential for appreciation as public and private investment continues to strengthen the neighborhood.

Investment Summary:
$325,000
$162,500 Per Unit
$95 Per Sq. Ft.
7.4 Times Actual Rents (GRM)
6.9 Times Market Rents (GRM)
10.28% Cap Rate
14.8% Projected Cash-on-Cash Return