2924 SAINT PAUL ST, Baltimore, MD 21218

• 5,500 sqft

Property Description

2924 Saint Paul Street presents a Charles Village value-add apartment building with below-market rents, deferred maintenance, and long-term ownership history. Investors have the flexibility to execute a renovation strategy that matches their budget and goals, whether through cosmetic apartment updates, mid-grade renovations, complete gut rehabs as units become available, or capital improvements to the building’s systems and common areas. The property consists of 4 apartments: 3 two-bedroom apartments and 1 one-bedroom apartment. The apartments are notably large, with two bi-level layouts, Apartment 2 occupying the full second floor, and Apartment 3 occupying the full third floor. Kitchens have been modernized over time with newer laminate countertops, wood cabinetry, and 20" or 30" gas ranges. Bathrooms have modern vanities and steel or cast-iron tubs, with surrounds consisting of vinyl, fiberglass, or ceramic tile. 2924 Saint Paul is located just two blocks from Johns Hopkins University’s Homewood campus and one block east of Wyman Park Dell, placing the property directly in one of Baltimore’s strongest student and professional rental corridors. The Johns Hopkins Shuttle stops just two blocks south, connecting riders to Peabody, Johns Hopkins Hospital, Broadway research facilities, and Bayview Medical Center. Current rents remain below prevailing market levels in the Hopkins corridor, creating a clear path to income growth as leases turn. At the asking price of $570,000, the property is offered at $142,500 per unit and $182 per sq. ft., with projected market-rent metrics of 7.7x GRM, 8.70% cap rate, and 10.0% projected cash-on-cash return. A rare opportunity to acquire a 4-unit Charles Village apartment building with large layouts, rent growth upside, and long-term demand driven by Johns Hopkins University.

Listing Status:

Active

Data Last Updated:

June 17, 2026 at 7:16AM

Listing Office:

Ben Frederick Realty, Inc. : 4102359500

Listing Agent:

Will A Cannon III : 4109163331

MLS ID:

MDBA2219836

Interior

• A/C: None
• Heating: RadiatorNatural Gas
• Disability Feature: None

Exterior

• General: Above GradeBelow Grade
• Style: Converted Dwelling

Construction

• General: BrickStone

Location

• Originating MLS: BRIGHT_MAIN
• School District: BALTIMORE CITY PUBLIC SCHOOLS
• County: BALTIMORE CITY-MD

Lot

• Zoning: R-80312163851 011

Utilities

• Water: Public
• Sewer: Public Sewer

Financial

• Source: BRIGHT_MAIN
• Exclusions: Tenants possessions