Premier 4-Unit Multifamily Investment in Historic Relay. 1537 South Rolling Road presents a rare opportunity to acquire a fully stabilized four-unit multifamily property in the heart of the Historic Relay District, one of Baltimore County’s most consistently performing rental markets. Initially constructed in 1890 and restored by the owner, an award-winning custom builder and contractor, the property blends classic architectural charm with modern functionality. Its quiet location, strong rental demand, exceptionally low vacancy history, and proximity to major employers, universities, and transportation corridors make it a standout investment. The property features a balanced layout beginning with two 2-bedroom units (Units 1 and 2). Unit 1 includes a versatile sitting room with a large walk-out bay that can also function as the second bedroom and offers two entrances—its primary entry located at the rear of the property, along with a secondary access point through the foyer. Unit 2 welcomes you through its expansive ±28 ft private covered porch. Inside, you’ll find beautifully preserved original oak paneling, walnut-inlaid oak flooring, and a generous walkout bay that fills the space with natural light. The flexible floor plan includes a bonus walk-through second bedroom—perfect for a home office, nursery, dressing room, or creative studio. For added convenience, this unit also features its own private washer and dryer. Completing the property, the second floor features two additional 1-bedroom units (Units 3 and 4), which—together with Units 1 and 2—offer a combined total of approximately ±3,198 square feet of above-grade living space, supplemented by ±657 square feet of basement storage or utility area. Current in-place rents highlight the area's desirability: Unit 1 (2BR) leases for $1,450/month, Unit 2 (2BR) for $1,350/month, Unit 3 (1BR) for $1,300/month, and Unit 4 (1BR) for $1,350/month. This results in a stable monthly income of $5,450, or $65,400 annually, supported by a long-standing 0% vacancy rate and a convenient one-to-one onsite parking ratio. 1537 S Rolling Road is a fully stabilized, income-producing asset with consistent, predictable cash flow. The property generates approximately $65,400 in annual gross rental income, supported by a strong tenant base. Operating expenses—including taxes, insurance, utilities, and general operating costs—total approximately $12,601, resulting in an attractive Net Operating Income (NOI) of roughly $51,398. With solid submarket fundamentals—characterized by rising rents, limited rental supply, and steady absorption—this property is well-positioned to deliver dependable performance and long-term value appreciation. Investors benefit from both immediate cash flow and the potential for continued rent growth in a high-demand corridor. See attached brochure for more specific information about appliances and utilities.
Multi-familyProperty Type
1890Year Built
0.28 acresLot Size
$184Est. Price/Sq.Ft.
4 spacesParking
Listed by Robert Walters• CENTURY 21 New Millennium
•703-556-4222 (broker)
•wendy.dean@c21nm.com (broker)
Bought with Colleen Winters• RE/MAX Realty Services
*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.
Public record
Public record
Zoning
Beds
—
Baths
4
Stories
2
Lot width
—
Lot depth
—
Lot size
0.28 Acres
Year renovated
—
Sq. Ft.
2,804
Year built
1890
Style
Single Family Residential
County
Baltimore County
APN
13 2100013420
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jul 29, 2026.
DR 2
Density Residential, 2.0 dwelling units per acre
The D.R. zoning classifications are established, pursuant to the legislative findings set forth above, in order to: Foster a greater variety in housing types within future residential developments; Allow more feasible preservation of natural features and induce the reservation of ample and more suitably designed open spaces and parks, in order to better satisfy the needs of residents without economic disadvantage to developers; Allow greater flexibility in subdivision-development planning and provide for the inducement of more creative as well as more economic approaches to residential development, with the goal of desirable and distinctive identity and character of individual residential locales; Provide the means to satisfy differing housing-market requirements without rezoning, and thus without disruptive changes in density potential; Provide for the application of residential zoning classifications in a manner more nearly in accord with comprehensive plans and comprehensive-planning goals and Provide greater certainty about dwelling types and densities within existing communities with the goal of conserving and maintaining these areas.
Permitted uses
Include but are not limited to:
Religious facility
Day care facility
Hospital / medical center
Housing-Single unit
Housing-Multiple units
Research & development
Public service
Educational/school
Park & open space
Property details
Parking
Parking Information
# of Total Garage and Parking Spaces: 4
Driveway - # of Spaces: 4
Driveway, Off Street
Interior
Interior Information
Flooring Type: Hardwood
Living Area Sq.Ft. Source: Estimated
Wall & Ceiling Types: 9'+ Ceilings
Basement Information
Basement: Yes
Partial, Unfinished
Exterior
Property Information
Total Below Grade Sq. Ft.: 657
Improvement Assessed Value: $233,000
Ownership Interest: Fee Simple
Year Built Source: Assessor
Year Major Reno/Remodel: 2005
Building Information
# of Levels (Total): 3
# of Units (Total): 1
Construction Materials: Cedar
Foundation Details: Other
Other Structures: Above Grade, Below Grade
Roof: Architectural Shingle
Structure Type: Detached
Lot Information
Tidal Water: No
Land Information
Land Assessed Value: $112,100
Above Grade Information
Unfinished Sq.Ft.: 0
Unfinished Sq.Ft. Source: Estimated
Finished Sq.Ft.: 3,198
Finished Sq.Ft. Source: Estimated
Below Grade Information
Unfinished Sq.Ft.: 657
Unfinished Sq.Ft. Source: Estimated
Finished Sq.Ft. Source: Assessor
Financial
Tax Information
County Tax: $3,522
Tax Assessed Value: $290,633
Tax Year: 2025
Tax Annual Amount: $3,973
Assessments Information
Year Assessed: 2025
Lease Information
Lease Considered: No
Rental Information
Rent Control: No
Total Actual Rent: $65,400
Utilities
Utilities Information
Central Air
Cooling Type: Central A/C
Cooling Fuel: Electric
Radiator
Heating Fuel: Natural Gas
Hot Water: Natural Gas
Sewer Septic: Public Sewer
Water Source: Public
Location
Multi Unit Information
# of One Bedroom Units: 2
# of Two Bedroom Units: 2
# of Units Leased: 4
Other Units: Unit 1,Unit 2,Unit 4,Unit 3
Gross Income: $65,400
Net Operating Income: $51,398
Income Includes: Apartment Rentals
Operating Expense: $12,601
Operating Expense Includes: Insurance
School Information
School District Name: BALTIMORE COUNTY PUBLIC SCHOOLS
School District Source: Listing Agent
Location Information
Outside City Limits
Cross Street: Francis Ave
Directions: Located just off 95, 195, 895, and Route 1, with two nearby MARC stations (St. Denis & Halethorpe / Penn Line) providing direct service to Baltimore and Washington, D. C. , and BWI.
Transportation: Airport less than 10 miles, Metro/Subway Station 1 to 3 miles
Public facts
Beds: —
Baths: 4.0
Sq. Ft.: 2,804
Stories: 2.0
Lot Size: 0.28 acres
Style: Single Family Residential
Year Built: 1890
Year Renovated: —
County: Baltimore County
APN: 13 2100013420
Home facts updated by county records on Jul 29, 2026
Around this home
Schools
Relay Elementary School
Public PreK-5 • Assigned • 0.4mi
5/10
Arbutus Middle School
Public 6-8 • Assigned • 1.1mi
5/10
Lansdowne High & Academy Of Finance
Public 9-12 • Assigned • 3.2mi
2/10
Provided by GreatSchools
Lifestyle
Provided by Walk Score and Local Logic
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
3/10 Fire Factor
0.15% chance of being in a wildfire in next 30 years
7/10 Heat Factor
7 days above 104° expected this year, 16 days in 30 years
5/10 Wind Factor
26% chance of strong winds in next 30 years
4/10 Air Factor
5 unhealthy days expected this year, 6 days in 30 years
Provided by First Street
Historical weather
Halethorpe, MD • 21227
Average low and high temperatures (°F)
39
24
44
29
62
40
70
50
75
57
87
67
91
73
86
67
80
63
71
50
59
41
45
30
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
In this area, properties receive around 9.2 hours in
June and 4.4 hours in December, placing it below the
U.S. average for solar exposure.
9.2 hrs
4.4 hrs
JuneDecember
Provided by Shadowmap
Estimated sale price
$561,000 – $679,000
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