Renovated and Rent Guaranteed on Campus Edge Sold

  • $105000
  • 2 beds
  • 1 baths
Price:
$105000
Address:
1030 N Collington Ave
Baltimore, MD 21205
Bedrooms:
2
Bathrooms:
1
Terms:
For Sale
Property Type:
Home
Basement:
Unfinished
Const. Type:
Brick Row Home

Additional Features

*|MC:SUBJECT|*

Hi Friend,


Today we're sharing another excellent renovated rental property for your consideration. This 2 bedroom, 1 bathroom home sits on the edge of an exciting 88 acre master planned mixed use development, archored by the world-class Hopkins biotech center called the Science + Technology Park at Johns Hopkins⚛ Given the strength of the location, the property offers both a respectable capitalization rate as a rental and a strong appreciation component for a future sale as well. In the meantime, enjoy a hassle free rental with a guaranteed rental income (if you let us manage it for you). This property is perfect for nurses, teachers, students or anyone seeking housing close to the medical campus or brand new Henderson-Hopkins School of Education!

Looking forward to answering your questions!
-Cris
919-675-CRIS

1030 N Collington Ave, Baltimore, MD

1030 N Collington Ave, Baltimore, MD 21205
2br/1ba
Cap Rate: 10.09% + 45k equity

Income Analysis
Listing Price: $105,000
Guaranteed monthly rental income: $1250/mo
Estimate Annual Taxes: $349
Estimated Annual Insurance: $840
Estimated Annual Maintenance Costs: $1,250
** This estimate is based on any potential repairs the property may need over the course of a year. In our experience, this number is typically lower, but we always estimate on the high side.
Annual Property Management: $1,500
**The fee is 10% of the monthly rent.
Annual Net Rental Income: $15,000
Annual Cumulative Hard Costs: $3,939
Adjusted Gross Annual Income: $11,061
5 Year Return: $55,305
10 Year Return: $110,610

Renovated Comps:
1018 N Patterson Park sold 03/18 for $170k
837 N Collington Ave currently listed for $180k
 

Property and Area Photos










More About Eager Park Community
Eager Park Summer Concert Series goers
Eager Park / Middle East ZIP codes: 21205
 
Eager Park / Middle East is a historic neighborhood located in central Baltimore. The area is currently undergoing a huge revitalization leading to the development of many new homes and businesses. At the heart of the neighborhood is the new Eager Park, a six-acre park that is home to a weekly farmers market, outdoor movies, and concerts among other neighborhood events. The neighborhood is also home to the Henderson-Hopkins Elementary/Middle School, the first new school in Baltimore in 25 years, which will be run by the Johns Hopkins School of Education with cooperation with Morgan State University. The area is a quiet, clean and safe neighborhood located right next to Johns Hopkins Medical Campus in the heart of the city making the area easily accessible by public transportation and walking. With many of the long time residents living in the neighborhood for generations and with the new housing bringing in excited and engaged new residents, the neighborhood promises to be very diverse with a strong sense of community and pride. The possibilities are endless with all the exciting work being done in Eager Park / Middle East.
Live, Work, Relax, Play, Shop & Dine Around Eager Park
 
Unaware of what the Baltimore
Real Estate Market has to offer?

 

Baltimore City was named the #1 Rental Millenial Mecca Market for 2017 as well as #2 in the Nation for Single Family Rental Income Returns! Finally it's recently been named the #1 market in the US for property flip returns as well.


Make sure to also read about the multi-billion dollar Port Covington project coming up in downtown Baltimore. It's one of the largest development projects currently on the East Coast, bringing in 20k new employees to the downtown area. Recently Goldman Sachs invested $233 Million in this project too in an effort to lure Amazon to make Baltimore it's 2nd Home.

 
What's a Cap Rate?

 

The net income an asset produces in a given year divided by its purchase price. The capitalization rate is used to help determine the rate of return, or how fast an asset pays for itself and begins to make a profit. For example, if an asset cost $1,000,000 and it produces $100,000 in a given year, the capitalization rate is 10% and it will take 10 years to pay for the asset with the money it produces. However, it is important to note that the capitalization rate may change from year to year. For example, the same asset could produce $100,000 in year one but $250,000 in year two. It is informally known as the cap rate.

Other Questions? Call Now!

Call (919) 675-2747 for more details

Property Location