2522 N Calvert St Baltimore, MD 21218

These well-maintained apartments provide the opportunity for investors or owner-occupants looking for a healthy cash-flow in the stable Charles Village neighborhood. Purchase these turn-key apartments to appreciate favorable returns for years to come.
Each apartment encompasses a full floor of this three-story building. Attractive hardwood floors run throughout the units. The original staircase railings and first floor’s French doors are beautifully preserved.

Kitchens and bathrooms are updated: two kitchens feature granite countertops; cabinets are a mix of wood and laminate; and all units have contemporary stainless steel sinks. Modernized bathrooms have ceramic tile floors; two have shower stalls with ceramic tile enclosures and one has a historic claw-foot tub.

Tenants enjoy the sunny living areas these apartments offer. A brick patio in the rear grants outdoor leisure space. Shared laundry facilities are available in the basement.
Each apartment is separately metered for electric, so each tenant pays for their electricity usage. The first floor meter includes the public service. There are two gas meters–one for the third floor, which the tenant pays, and one for the first floor, second, floor, and public service, which the landlord pays. Water and sewer is paid by the landlord. A savvy new owner could increase cash flow by passing these expenses on to the tenants.

2522 North Calvert Street has a new gas-fired forced-air Rheem furnace, dated 2021. A 2016 71-gallon gas-fired Kenmore water heater provides hot water. Vinyl replacement windows throughout help to insulate the building. A rubber roof with elastomeric coating helps repel sunlight and keeps the building cooler in the summer. The building’s plumbing is copper and pvc, with a copper water main.
Located a short 5 blocks from Johns Hopkins University Homewood Campus, 2522 North Calvert Street is within easy walking distance of campus, Wyman Park, and the 25th Street commercial corridor. 25th Street is home to many small shops and restaurants, including Safeway and CVS. Garnering the title “Walker’s Paradise”, 2522 North Calvert Street earns a 92 Walk Score, a 66 Transit Score, and an 86 Bike Score. This block is served by the Charles Village Benefits District. This nonprofit organization helps keep the district clean, organizes security patrols, and hosts community events.
Investment Summary:
$395,000
$131,667 Per Unit
$155 Per Sq. Ft.
9.7 Times Actual Rents (GRM)
9.0 Times Market Rents (GRM)
7.84% Cap Rate
9.1% Projected Cash-on-Cash Return