23 W 4TH STREET
About This Property
And now, with a new price of $599,997, this rare DETACHED downtown home has become an exceptional value opportunity with upside potential - something you simply don't see often in Historic Frederick.
Hardwood floors run throughout, giving each room warmth and character, while the second-floor kitchen brings unexpected charm and functionality. The finished attic offers a bonus bedroom - complete with a mini-split - perfect for guests, a creative studio, or a cozy retreat. Downstairs, the first floor offers flexible space that could become a home office, studio, or even a small boutique-style workspace, creating the rare chance to blend lifestyle and livelihood in the heart of the city.
Step outside and you'll find a stone-fenced yard that feels like a private escape, its layout carrying a calming Feng Shui vibe. The possibility of off-street parking adds even more long-term value - a true prize for downtown living.
What truly elevates this home, though, is the lifestyle. From summer concerts and Fourth of July fireworks in Baker Park to Alive at Five, First Saturday, and In the Streets, you're immersed in everything that makes Frederick special. Boutiques, breweries, fine dining, and art galleries are all just steps away.
At 23 W. 4th St., you're not just buying a home - you're securing a rare detached property in Historic Downtown at a compelling new price point, with character today and potential for tomorrow. It's where smart investment meets an unbeatable lifestyle, right in the heartbeat of Frederick.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Mar 17, 2026 | Sold | ||
| Sold | |||
| Jan 20, 2026 | In contract | - | |
| In contract | |||
| Jan 13, 2026 | Listed by IMPACT Maryland Real Estate | $599,997 | |
| Listed by IMPACT Maryland Real Estate | |||
| Dec 10, 2025 | Listed | $639,997 | |
| Listed | |||
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There’s something magical about waking up in Historic Downtown Frederick. The streets hum with energy, the aroma of fresh coffee drifts from corner cafés, and the day ahead is filled with endless possibilities — a morning walk through Baker Park, lunch at one of Frederick’s award-winning restaurants, and later, maybe a glass of wine along Carroll Creek as the sun sets. At 23 W. 4th St., all of that isn’t just close by… it’s your everyday life.
This wonderful and rare DETACHED home is as unique as the city itself. Hardwood floors run throughout, giving each room warmth and character, while the second-floor kitchen brings unexpected charm and functionality. The finished attic offers a bonus bedroom — complete with a mini-split — perfect for guests, a creative studio, or a cozy retreat. And downstairs, the first floor offers a flexible space that could even be transformed into a shop, gallery, or home office — a rare opportunity for those who dream of combining business and home in the heart of the city.
Step outside and you’ll find a stone-fenced yard that feels like a private escape, its layout carrying a calming Feng Shui vibe. There’s even the possibility of off-street parking — a true prize for downtown living.
But what truly sets this home apart is the lifestyle. From here, you’re steps away from Baker Park, where summer concerts and Fourth of July fireworks light up the night. You’re immersed in the vibrancy of Frederick’s signature events — First Saturday, Alive at Five, and In the Streets — each one filling the sidewalks with music, laughter, and community spirit. Boutiques, breweries, fine dining, and art galleries are all within reach, turning everyday errands into adventures.
At 23 W. 4th St., you’re not just buying a home. You’re stepping into the heartbeat of Frederick. A place where history, culture, and community blend seamlessly with the rhythm of modern life.
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| Oct 9, 2025 | Listed | $674,444 | |
| Listed | |||
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There’s something magical about waking up in Historic Downtown Frederick. The streets hum with energy, the aroma of fresh coffee drifts from corner cafés, and the day ahead is filled with endless possibilities — a morning walk through Baker Park, lunch at one of Frederick’s award-winning restaurants, and later, maybe a glass of wine along Carroll Creek as the sun sets. At 23 W. 4th St., all of that isn’t just close by… it’s your everyday life.
This wonderful and rare DETACHED home is as unique as the city itself. Hardwood floors run throughout, giving each room warmth and character, while the second-floor kitchen brings unexpected charm and functionality. The finished attic offers a bonus bedroom — complete with a mini-split — perfect for guests, a creative studio, or a cozy retreat. And downstairs, the first floor offers a flexible space that could even be transformed into a shop, gallery, or home office — a rare opportunity for those who dream of combining business and home in the heart of the city.
Step outside and you’ll find a stone-fenced yard that feels like a private escape, its layout carrying a calming Feng Shui vibe. There’s even the possibility of off-street parking — a true prize for downtown living.
But what truly sets this home apart is the lifestyle. From here, you’re steps away from Baker Park, where summer concerts and Fourth of July fireworks light up the night. You’re immersed in the vibrancy of Frederick’s signature events — First Saturday, Alive at Five, and In the Streets — each one filling the sidewalks with music, laughter, and community spirit. Boutiques, breweries, fine dining, and art galleries are all within reach, turning everyday errands into adventures.
At 23 W. 4th St., you’re not just buying a home. You’re stepping into the heartbeat of Frederick. A place where history, culture, and community blend seamlessly with the rhythm of modern life.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017