702 HOMESTEAD ST Baltimore, MD 21218
1,920 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Detached
Listing Status Active
Purchase Type For Sale
Square Footage 1,920 sqft
Price per Sqft $205
Subdivision Better Waverly Historic District
MLS Listing ID MDBA2221048
Style Converted Dwelling
Abv Grd Liv Area 1,920
Year Built 1920
Annual Tax Amount $6,662
Tax Year 2026
Lot Size 4,000 Sqft
Acres 0.09
Property Sub-Type Detached
Source BRIGHT
Property Description
● Strong Physical Condition — 2020 roof, replacement wood windows, individual HVAC units, and updated plumbing minimize repair expenses.
● Walkable Location Near Daily Essentials — Tenants enjoy access to Giant, Ace Hardware, the YMCA, and a year-round farmers market—all within a 4-minute walk—supporting consistent rental demand.
Owner-Occupant Financing Scenarios:
A: House Hack with FHA Financing: Purchase with just 3.5% down, occupy one apartment, and projected rental income from the other three apartments is essentially equal to your entire monthly PITI and PMI.
B: Prefer Conventional Financing? Put 20% down and collect rent from the other three apartments. Your projected monthly housing cost is only $729 per month—less than renting a comparable two-bedroom apartment in Better Waverly while building equity in your own apartment building. (Call us for details)
702 Homestead Street features four two-bedroom apartments. Kitchens include laminate countertops, wood cabinets, 30" gas ranges, dishwashers, and stainless steel sinks, with some garbage disposals. Bathrooms are equipped with modern vanities, steel tubs, and ceramic tile tub surrounds. Flooring includes carpet in the living areas and ceramic tile in the kitchens and bathrooms. Each apartment includes washer and dryer hookups, allowing tenants to install their own in-unit laundry.
The building features a 2020 asphalt shingle roof and separately metered gas and electric service, making ownership and expense allocation straightforward. Each apartment is served by its own gas-fired furnace with central air conditioning and individual electric water heater. Supply lines are C-PVC and drain lines are PVC. The owner currently pays water and sewer, creating an opportunity for a future owner to implement a utility reimbursement program and improve net operating income.
Better Waverly is a neighborhood where approximately 51% of residents own their homes, contributing to well-maintained properties, attractive streetscapes, and long-term neighborhood stability. The property is located just 0.2 miles—or a 4-minute walk—from Giant, Ace Hardware, the YMCA, and the Enoch Pratt Library. The year-round 32nd Street Farmers Market is just a few blocks away, while Johns Hopkins University's Homewood Campus is less than one mile away. Numerous nearby renovation projects continue to demonstrate private investment and confidence in the neighborhood's future.
Location
State MD
County Baltimore City
Zoning R-7
Interior
Hot Water Electric
Heating Forced Air
Cooling Central A/C
Fireplace N
Heat Source Natural Gas
Exterior
Water Access N
Accessibility None
Garage N
Building
Foundation Stone
Above Ground Finished SqFt 1920
Sewer Public Sewer
Water Public
Architectural Style Converted Dwelling
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District Baltimore City Public Schools
Others
Tax ID 0309034079 002
Ownership Ground Rent
SqFt Source 1920
Acceptable Financing FHA, Conventional, VA, Private
Listing Terms FHA, Conventional, VA, Private
Financing FHA,Conventional,VA,Private
Special Listing Condition Standard
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Owner | License ID: 0225072428