2224 Eutaw Pl, Baltimore, MD 21217
Local realty services provided by:Better Homes and Gardens Real Estate Maturo
2224 Eutaw Pl,Baltimore, MD 21217
$550,000
- 6 Beds
- - Baths
- 4,688 sq. ft.
- Multi-family
- Pending
Listed by:michael paul wade
Office:samson properties
MLS#:MDBA2177690
Source:BRIGHTMLS
Price summary
- Price:$550,000
- Price per sq. ft.:$117.32
About this home
Fully-leased three-unit rental property currently generating $3,880 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 - $1,540 month to month
- Unit 2: 2BR/2BA - $1,020 leased until 3/31/26
- Unit 3: 2BR/1BA - $1,320/month
- Total Monthly Income: $3,880
- Annual Gross Income: $46,560
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.
Contact an agent
Home facts
- Year built:1907
- Listing ID #:MDBA2177690
- Added:61 day(s) ago
- Updated:September 29, 2025 at 07:25 AM
Rooms and interior
- Bedrooms:6
- Living area:4,688 sq. ft.
Heating and cooling
- Cooling:Central A/C, Multi Units
- Heating:Natural Gas, Radiator
Structure and exterior
- Year built:1907
- Building area:4,688 sq. ft.
- Lot area:0.06 Acres
Utilities
- Water:Public
- Sewer:Public Sewer
Finances and disclosures
- Price:$550,000
- Price per sq. ft.:$117.32
- Tax amount:$8,178 (2024)
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