Turn Key Rental, 10% Cap Rate Sold

$89000
4 beds
1.5 baths

Sold

Price:: $89000
Address:: 132 N Hilton St
Baltimore, MD 21229
Bedrooms:: 4
Bathrooms:: 1.5

Terms:: For Sale
Property Type:: Home
Basement:: Finished
Const. Type:: Brick Row Home

Additional Features

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Hi Friend,

Great Price, Great Cap Rate. Today we're headed west of Washington Village to Allendale neighborhood on Gwynn Falls Park. This 4 bedroom 1.5 bath row home sits on a tree lined street, surrounded by green space, but just two miles from I-95 for easy highway access. It's also walking distance from five schools, including Greene Street Academy & The SEED School of Maryland, which makes it a wonderful option for tenants seeking a place for their student to flourish. We've got numerous rentals in the immediate area and the community has a wonderful suburban neighborhood feel, yet it's still right in town. Let us manage it for you and we'll guarantee the rent!

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

132 N Hilton St, Baltimore, MD

132 N Hilton St, Baltimore, MD 21229
4br/1.5ba
Cap Rate: 10.47%
Income Analysis
Listing Price: $89,000
Total monthly projected rental income: $1200/mo
Estimate Annual Taxes: $1180
Estimated Annual Insurance: $840
Estimated Annual Maintenance Costs: $1,200
** 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: $1,440
**The fee is 10% of the monthly rent.
Annual Net Rental Income: $14,400
Annual Cumulative Hard Costs: $4,660
Adjusted Gross Annual Income: $9,740
5 Year Return: $48,700
10 Year Return: $97,400

Comps:
214 N Hilton listed for $93,000 (smaller home)
115 N Monastery Ave sold for $116,200
147 N Monastery Ave sold for $94,333
12 N Kossuth St sold for $115,517
317 N Monastery Ave sold for $94,000
306 N Monastery Ave sold for $95,000
146 N Edgewood St sold for $107,740
308 N Monastery listed for $124,900

Property and Area Photos

More About Allendale Community

Allendale ZIP codes: 21229

Allendale is a family-oriented community with well-maintained and attractive houses, tree-lined streets, and beautiful landscaping. The Allendale Community Association was started in the 1950's when people met in each other's homes. The organization grew, and after the Mary E. Rodman Recreation Center was built in 1974, the Allendale Community Association began meeting there to accommodate larger groups. This neighborhood stretches across the New Cathedral Cemetery. To the west of the cemetery is Edmondson Westside High School. To the east of the cemetery are quite a number of residential streets of attached row homes.

Allendale is also home to Green Street Academy, formerly Gwynn Falls Highschool. When Gwynns Falls High School was built on North Hilton Street in Southwest Baltimore in 1925, it was state of the art. It cost $1.35 million. “It was the most expensive school in Baltimore,” Jon Constable of Seawall Development said, pointing out architectural details from tongue-and-groove pine flooring to terrazzo hallways. “It’s a fortress.” Seeing it come back as a vibrant part of our neighborhood is a dream come true for community members who had hoped for such since it ceased holding classes in the 1980's.

Unaware of what the Baltimore
Real Estate Market has to offer?

RealtyTrac and Bigger Pockets ran the numbers for 2017. 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.

Call (919) 675-2747 for more details