ONLY 85k! – Long Term Occupied Rental Property Sold

  • $85,000
  • 3 beds
  • 1 baths

Hi Friend,

Today we’re sharing another home on the edge of Coppin State University from our long term managed portfolio. This occupied three bedroom one bath home pays dividends immediately when added to your 2020 portfolio. The current tenant has been in the property since 2012, is a member of the local community watch group and intends to stay long term. Walking distance to a great college, two high schools, a mall, Starbucks, public transit, parks and more. All at the very affordable price of $85,000.

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

 

1603 N. Bentalou St, Baltimore, MD

 

 



 

1603 N Bentalou St, Baltimore, MD 21216
3br/1ba

ROI: 14.45%
Income Analysis
Sales Price: $85,000
Current rental income: $1,000/mo
Current Annual Taxes: $861
Estimated Annual Insurance: $600
Estimated Annual Maintenance Costs: $1,000
** 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: $1,200
**The fee is 10% of the monthly rent.
Annual Gross Rental Income: $12,000
Annual Cumulative Hard Costs: $3,661
Adjusted Gross Annual Income: $8,339
5 Year Return: $41,695
10 Year Return: $83,390

Renovated Comps:
2032 N Bentalou St – sold 05/20 for $155k
1129 N Bentalou St – sold 04/20 for $142k
2012 Ruxton Ave – sold 01/20 for $123k
1603 Ruxton Ave – sold 10/19 for $148k
607 N Bentalou St (ours) – sold 01/19 for $120k
833 N Bentalou St (ours) – sold 05/18 for $114k
1700 N Bentalou St (ours) – sold 11/18 for $119k
1726 N Bentalou St (ours) – sold 05/19 for $105k

Property and Area Photos

 

 

 

 

 

 

More About Coppin Heights Community

 

 



 

Coppin Heights ZIP codes: 21216

The Greater Coppin Heights/Rosemont Community is an established working-class neighborhood featuring tree-lined streets and many brick porch-front rowhomes with garden areas. It is a predominantly residential community with commercial and industrial uses concentrated along its northern border, while public land uses (e.g., Coppin State University and Carver Vocational High School) are located on its northern and southeastern border. Coppin Heights was originally part of the Walbrook Community until 1989, when, for marketing purposes, the community was renamed Coppin Heights, officially assuming the boundaries of the Ash-Co-East-Neighborhood Association. In 2004, Coppin State University drafted the Greater Coppin Heights/Rosemont Revitalization Plan, which created a partnership between the Coppin Heights and Rosemont communities.

 

 







 

How is Baltimore doing since COVID-19?

 

 

 

Prior to COVID-19 shut downs, the Baltimore-area housing market set a 10-year record for closed and pending sales in February as median sale prices across the region continue to soar. Closed sales were up 16.2% across the region in February 2020 compared to February 2019, while pending sales were up 14.3%. These increases came as the median sale price for homes in Baltimore metro area increased 10.2% to $265,000 compared to February 2019, the 16th consecutive month of year-over-year gains, according to the report, which used data provided by MarketStats by ShowingTime based on listing activity from Bright MLS. Median days on the market also continued to decline, dropping to 38 days compared to 49 days last February.

Of course everyone everywhere nosedived for a short period after that, but we’re happy to announce that not only have Baltimore numbers rebounded, they have again beat market expectations. In the chart below you will find that sales prices have rebounded in full and are currently also exceeding list prices on average, across all local inventory. Simply put, Baltimore is still an excellent investment and will continue to be!

 

 



Other Questions? Call me now at 919-675-CRIS!

 

 

Price:
$85,000
Address:
1603 N Bentalou St
Baltimore, MD 21216
Bedrooms:
3
Bathrooms:
1
Terms:
For Sale
Property Type:
Row-house
Basement:
unfinished

Call (919) 675-2747 for more details

Property Location