23% ROI Occupied Section 8 Rental Sold

  • $119,900
  • 3 beds
  • 2 baths
 

Hi Friend,

Summertime is here again and it’s a great time to revisit your rental portfolio! So today we’ve got a long term tenant occupied Section 8 rental for your consideration. This home sits in one of our favorite neighborhoods. You’ll see just down the street we’ve got Johns Hopkins, Loyola, Notre Dame, St. Elizabeth, Waverly Elementary, Baltimore City College and Morgan State Campuses. So put simply, this is the right place to own a rental property.

Notably, this home is also 100% government subsidized, meaning the tenant has zero payment responsibility and your recurring rental income is rock solid, regardless of current market or employment fluctuations. The resident has been in the home since 2014 and also intends to stay indefinitely. We typically get ~ 3% rental rate increase yearly on this one as well from Section 8.

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



 

548 Chateau Ave, Baltimore, MD 21212
3br / 2ba + Finished Basement
ROI: 23.29%

Income Analysis
Listing Price: $119,900
Rental income: $1749/mo (tenant pays $0)
Current Annual Taxes: $1573
Estimated Annual Insurance: $600
Estimated Annual Maintenance Costs: $1,749
** 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: $2099
**The fee is 10% of the monthly rent.
Annual Net Rental Income: $20,988
Annual Cumulative Hard Costs: $4,131
Adjusted Gross Annual Income: $16,857
5 Year Return: $84,285
10 Year Return: $168,570

Comps:
4146 The Alameda – sold 06/20 for $125k
614 Radnor Ave – sold 05/20 for $143k
4516 Saint Georges Ave – sold 02/20 for $143k
502 Chateau Ave – sold 01/20 for $180k

Property and Area Photos

 

 

 

 

 

 

More About Radnor-Winston Community

 

 

 

Radnor-Winston ZIP codes: 21212

Radnor Winston is a friendly, affordable and diverse neighborhood tucked behind the campuses of Loyola College and The College of Notre Dame. Radnor-Winston has been a historic district on the National Register of Historic Places since 2003. The Radnor Winston Improvement Association is an active volunteer organization with a long history of activism on local issues of concern. Radnor Winston is one of a number of early suburban communities developed along the York Road street car line in the early decades of the 20th century, built on land where there had previously been a number of large country estates. The Radnor-Winston Improvement Association was formed in 1958.

 

 







Other Questions? Call Cris at 919-675-CRIS!

 

Price:
$119,900
Address:
548 Chateau Ave
Baltimore, MD 21212
Bedrooms:
3
Bathrooms:
2
Terms:
For Sale
Property Type:
Row-house
Basement:
Finished
Const. Type:
Brick

Call (919) 675-2747 for more details

Property Location