🏡 Turnkey, Designer-Grade Renovation in Pigtown
🔑 Low-Risk Cash Flow — Everything Is New
- ~9.1% cap rate on $2,700/mo projected rent — outstanding homeowner grade finish levels throughout. A real gem for long term hold with baked in strong appreciation, for quality product like this.
- Full gut renovation — kitchen, two full designer baths + half bath, flooring, lighting, and mechanicals. Nothing to fix, nothing to stabilize — place a tenant and collect.
- Risk/reward that makes sense: brand-new renovation = minimal maintenance and capex for years, backed by our in-house management.
📊 Investment Highlights
- Chef’s kitchen with quartz waterfall island, white shaker cabinetry, tile backsplash, and full stainless appliance package.
- 2 spacious bedrooms + 2.5 designer baths — marble-look glass shower, hex-tile tub bath, and a convenient main-level half bath. A bath count you rarely see at this price point.
- Brick rowhome — 1,132 sqft above grade (built 1898, fully modernized) plus a clean unfinished basement for storage and mechanicals.
- Forced-air gas heat + central A/C, recessed lighting throughout, LVP and fresh carpet, wood accent walls, washer/dryer included.
- Fenced rear patio — private outdoor space tenants pay up for.
📍 Pigtown / Washington Village Insights
- Blocks from the Washington Blvd Main Street corridor; about a mile to M&T Bank Stadium and Camden Yards.
- Minutes to University of Maryland Medical Center, the UM BioPark, and downtown — a deep pool of medical and downtown renters.
- Quick access to I-95, I-395, and BW Parkway; MARC Camden Line nearby for DC commuters.
- Carroll Park and the Gwynns Falls Trail around the corner.
⭐ Why 1347 Herkimer St Stands Out
- True turnkey — renovation quality you normally only see on owner-occupant flips, at an investor price.
- $2,700/mo projected rent supported by the finish level and priced by our own leasing team.
- Hands-free from day one — the same one-stop shop that renovates, leases, and manages 150+ Baltimore doors can manage this one for you.
📲 Call Cris Now — (919) 675-2747 — properties at this finish level don’t sit.
📊 Cap Rate Analysis
The cap rate above is an estimate based on projected rent less estimated property taxes, insurance, property management, maintenance reserves, and closing costs (gross yield is ~13.9%). All figures are opinions and estimates — buyer to verify all numbers and perform their own due diligence.
Run the numbers — 1347 Herkimer St
Change the down payment or rate — every figure updates. Management at 10% and a full month’s rent in maintenance reserves are already built in.
Annual Revenue & Expenses
| Gross rent ($2,700 × 12) | $32,400 |
| Property taxes | −$4,592 |
| Home insurance | −$600 |
| Property management 10% | −$3,240 |
| Utilities – water | $0 |
| Ongoing maintenance | −$2,700 |
| Net operating income | $21,268 |
| Total investment (incl. $8,700 closing) | $233,600 |
| Cap rate (cash purchase) | 9.10% |
Financing
| Down payment (25%) | $56,225 |
| Est. closing costs | $8,700 |
| Cash to close | $64,925 |
| Loan amount | $168,675 |
| Mortgage payment / mo | $1,151 |
| Annual cash flow after debt | $7,460 |
Estimates only, not a guarantee of future performance. Closing costs estimated at 3.435% of price (transfer, recordation, title) plus $975 in fixed fees. Maintenance reserve = one month’s rent per year. Management = 10% of collected rent (minimum $99/mo). Financed figures assume a conventional or DSCR investor loan; actual rate, terms, and eligibility depend on the lender. Buyer to verify all figures independently.