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305 W Madison St, Baltimore, MD, 21201

$400,000

Home List Price

$4,750*

Closing Credit

0 Baths
House

Location

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305 W Madison St, Baltimore$400,000

Buyer Closing Credits

$4,750*

1.25% Loan Amount

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Property Highlights

Home TypeOther
ParkingOn Street
Year Built1952
HeatingRadiant
CoolingWindow Unit(s)
MLS #MDBA2141324
StatusAccepting Backup Offers
(ACTIVE UNDER CONTRACT)

About 305 W Madison St

Property Overview The property at 305 W Madison St, Baltimore, MD 21201 is a five-unit multifamily building with a mix of studio and one-bedroom units. Some of the units have already been renovated, and the property includes onsite laundry facilities, offering added convenience for tenants and an additional income stream for investors. Value-Add Potential The property offers substantial value-add potential for investors, with the opportunity to increase rents by 59%, or approximately $200 per unit. This creates a clear path to significantly enhance cash flow and maximize returns. With a handful of units already renovated investors can implement additional improvements to the remaining units to further boost rental income and overall property value. Additionally, the onsite laundry offers further income-generating potential. Location and Area Benefits Located in the heart of Baltimore, the property is close to major institutions such as Johns Hopkins University and the University of Maryland Medical Center, offering proximity to key employment centers. Nearby universities like the University of Baltimore and Maryland Institute College of Art (MICA) also enhance the area's appeal. The property benefits from easy access to major highways such as I-83 and I-95, and is close to the State Center subway station, ensuring excellent transportation options. Additionally, being near an Opportunity Zone provides potential tax incentives for investors.

Property Details

Property Features

Property Information:

  • Architectural Style: Unit/Flat
  • Year Built: 1952

Listing Office:

  • Office Name: Midfield Realty
  • Office Phone: (410) 498-5408
  • Listing Agent: Menachem M. Dalfin

Interior Features

Interior Information:

  • Basement: No

Exterior Features

Parking Information:

  • Parking: On Street

Utilities

Utilities Information:

  • Heating: Radiant
  • Cooling: Window Unit(s)

Other

Directions Information:

  • Directions: Please use GPS

Municipality:

  • Baltimore City

Price Information

Listing Price Info

Price Summary:

  • List Price: $400,000

Tax Information:

  • Annual Amount: $3,757
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Baltimore, MD.

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Baltimore, MD

City

Med. Sold Price

$225.7K

Med. Price/SqFt

$162

Avg. Days On Market

36

# of Sold Homes

553

305 W Madison St vs Baltimore

63 DAYS ON ROCKET

+27 Days

$400,000

+$174.2K More

KEY TAKEAWAY

This property is $174.2K more than the Median Sold Price in Baltimore, MD.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: BRIGHT
  • MLS Number: #MDBA2141324

Listing Office:

  • Office Name: Midfield Realty
  • Office Phone: (410) 498-5408
  • Listing Agent: Menachem M. Dalfin

IDX Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.

The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. This home sale information is not to be construed as an appraisal and may not be used as such for any purpose.

BRIGHT MLS is the (or a) provider of this home sale information and has compiled content from various sources. Some properties represented may not have actually sold due to reporting errors. ©2024 BrightMLS. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 12/5/2024, 1:20:50 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Mar 23, 2021Home Sold
$275,000
Jun 23, 2017Home Sold
$195,000

Tax History

YEARPROP. TAXASSESSMENT
2021$3,757$180,933
2020$4,013$170,067
2019$3,739$159,200
2018$3,757$159,200
2017$3,757$159,200

History based on county public records data.

Payment Calculator

$2,064

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$1,266

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-198589
1
/10

  • The Historic Samuel Coleridge-Taylor Elementary School

  • 507 W Preston St

  • 0.30 miles

  • Public District Grades PK-5

school-card-donut-198590
2
/10

  • Furman Templeton Preparatory Academy

  • 1200 Pennsylvania Ave

  • 0.54 miles

  • Public Charter Grades PK-5

school-card-donut-198591
1
/10

  • Eutaw-Marshburn Elementary School

  • 1624 Eutaw Pl

  • 0.76 miles

  • Public District Grades PK-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $35,326. Most Baltimore, MD residents have annual incomes less than $35k. Typical family type is single, no kids. Residents of this area typically have post secondary degree education.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 305 W Madison St

What is the listing price of this property?

The listing price of 305 W Madison St property is $400,000.

What type of property is this?

The property 305 W Madison St is a house located in Baltimore, Maryland, 21201.

Is this property for sale now?

Accepting Backup Offers: 305 W Madison St is Accepting Backup Offers (Active Under Contract), there is still a chance to have your real estate agent submit an offer.

What is the annual property tax for this property?

According to the records, the last property tax for 2021 is $3,757 (source: MLS/based on county public records data).

When was this property sold last time and for how much?

The last sale was on March 23, 2021 for $275,000. (source: MLS/tax record).

What is the square footage of this property?

The sq. ft. of 305 W Madison St is not available (source: MLS/tax record).

Which year was this property built?

The year of construction for 305 W Madison St is 1952.

Rocket Homes›Maryland›Baltimore›21201›305 W Madison St

This home is located at 305 W Madison St in Baltimore, MD and zip code 21201 in the Central neighborhood. This home was built in 1952. It has been listed on Rocket Homes since October 02, 2024 and is currently priced at $400,000.

In November 2024, from all listings sold in Baltimore, MD there were more than 197 sold above asking price, over 205 sold below and more than 151 were sold right at the asked price. The number of listings in Baltimore, MD increased by 4.6% between October 2024 and November 2024. In November 2024, listings were on the market for 36 days. During the same period, the median list price in this real estate market was $225,730.

From Rocket Homes Real Estate and based on county public records data.

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