Renovated 14% Cap Rate Buy & Hold Sold

  • $85000
  • 4 beds
  • 1.5 baths
Price:
$85000
Address:
1604 N Pulaski St
Baltimore, MD 21216
Bedrooms:
4
Bathrooms:
1.5
Terms:
For Sale
Property Type:
Home
Basement:
Unfinished
Const. Type:
Brick Row Home

Additional Features

*|MC:SUBJECT|*

Hi Friend,

Today we've got a nearly completed property available for your consideration, immediately across from an elementary school. It sits just a couple of blocks from N Bentalou St that you see us renovating on quite often, so it shares those same great characteristics for a buy & hold rental as well ... walking distance to a great college, two highschools, a mall, Starbucks, public transit, parks and more. This one comes in strong on Cap Rate at 14% for the low price of $85,000 which includes the remaining wrap up we're doing to the property.

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

1604 N Pulaski St, Baltimore, MD

1604 N Pulaski St, Baltimore, MD 21216
4br/1.5ba

Cap Rate: 13.97% + 20k Equity
Income Analysis
Sales Price: $85,000
Total monthly projected rental income: $1,400/mo
Estimate Annual Taxes: $495
Estimated Annual Insurance: $840
Estimated Annual Maintenance Costs: $1,400
** 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: $1,680
**The fee is 10% of the monthly rent.
Annual Net Rental Income: $16,800
Annual Cumulative Hard Costs: $4,415
Adjusted Gross Annual Income: $12,385
5 Year Return: $61,925
10 Year Return: $123,850

Comps:
1729 N Pulaski St - sold for $105k
1712 Moreland Ave - listed for $120k
1312 N Bentalou St - sold for $119k
2544 W Lanvale St - for sale $125k
2318 W Lanvale St - sold for $109k

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.
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 too. It's one of the largest development projects currently on the East Coast, bringing in 20k new employees to the downtown area.

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