702 Homestead St 4 Unit Apartment Building $410,000 ($102,500/Unit) 9.16% Cap Rate Baltimore, MD 21218

Better Waverly Rental Interiors:
702 Homestead Street features four two-bedroom apartments. Kitchens include laminate countertops, wood cabinets, 30” gas ranges, dishwashers, and stainless steel sinks—some with garbage disposals. Bathrooms are equipped with modern vanities, steel tubs, and ceramic tile tub surrounds. Flooring includes carpet in living areas and ceramic tile in kitchens and baths. Each apartment is outfitted with its own washer and dryer hookups and tenants can provide their own in-unit laundry.
Utilities:
With a 2020 asphalt shingle roof and fully separated utilities, this Better Waverly rental property for sale is built for efficient management. Each apartment is individually metered for gas and electric (4 gas meters, 5 electric meters) and served by its own gas furnace with central air and electric water heater. Supply and drain lines are a mix of C-PVC and PVC. While the landlord currently pays for water and sewer, a new owner could implement a utility reimbursement structure to recapture those costs and enhance returns.
What’s Special About Better Waverly:
This Better Waverly rental property sits in a neighborhood where 51% of residents are homeowners—a factor that contributes to well-maintained homes, cleaner blocks, and stronger community stability. Located just 0.2 miles—or within a 4-minute walk—of Giant, Ace Hardware, the YMCA, and the Enoch Pratt Library, tenants benefit from highly walkable access to essential amenities. The 32nd Street Farmers Market operates year-round just a few blocks away, and the Johns Hopkins University Homewood Campus is less than a mile away. Active renovation projects throughout the surrounding blocks signal ongoing investment and continued neighborhood growth.