1. Maryland
  2. Baltimore
  3. 2224 EUTAW PL
$550,000

2224 EUTAW PL, Baltimore, MD 21217

  • 4,688 sqft
  • Property Icon Triplex
  • Property Year Built Icon Built in 1907
  • Property Lot Size Icon2,614sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $117/sqft
  • Property List Date Icon Listed 1 day ago

Property Description

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.

Listing Status:
Active
Listing Office:
Samson Properties : 4435422251
Listing Agent:
Michael Paul Wade : 4438129980
MLS ID:
MDBA2177690
  • General: Other
  • Basement: Connecting stairwayOutside entranceFull
  • A/C: Multi UnitsCentral A/C
  • Heating: RadiatorNatural Gas
  • Disability Feature: None

This listing courtesy of Michael Paul Wade, Samson Properties

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

J

John Eager Howard Elementary School

2011 Linden Ave, Baltimore, MD, 21217

Grades PK-5

0.11 miles away

W

William Pinderhughes Elementary School

701 Gold St, Baltimore, MD, 21217

Grades PK-8

0.44 miles away

R

Renaissance Academy

1301 McCulloh St, Baltimore, MD, 21217

Grades 9-12

0.66 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.