6br Occupied Rental pulls $1865/mth Sold

  • $120000
  • 6 beds
  • 1.5 baths
Sold
Price:
$120000
Address:
2904 Ulman Ave
Baltimore, MD 21215
Bedrooms:
6
Bathrooms:
1.5
Terms:
For Sale
Property Type:
Home
Const. Type:
Brick Row Home

Additional Features

*|MC:SUBJECT|*

Hi Friend,

Today we've got an occupied six bedroom rental property for your consideration, sitting on the edge of the Maryland Zoo. The current tenants have occupied the property for five years and the current rental income of $1865/mth is guaranteed, putting the Cap Rate on this low risk investment at a very strong 13%.

Like many of our offerings, you'll find plenty of amenities nearby including: Druid Hill Park, The Maryland Zoo, Loyola University, Johns Hopkins University and plenty of transit options to reach them as well. Give me a call to start earning rental income immediately.

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

2904 Ulman Ave, Baltimore, MD

2904 Ulman Ave, Baltimore, MD 21215
6br/1.5ba

Cap Rate: 13.09%
Income Analysis
Sales Price: $120,000
Current guaranteed rent: $1,865/mo
Estimate Annual Taxes: $1182
Estimated Annual Insurance: $840
Estimated Annual Maintenance Costs: $1,865
** 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: $2,238
**The fee is 10% of the monthly rent.
Annual Net Rental Income: $22,380
Annual Cumulative Hard Costs: $6,125
Adjusted Gross Annual Income: $16,255
5 Year Return: $81,275
10 Year Return: $162,550

Comps:
3714 Overview Rd - sold for $200k
2801 Norfolk Ave - listed for $123k
2618 Violet Ave - listed for $165k
3442 Reistertown Rd - sold for $160k
 

Property and Area Photos








More About Park Circle Community
Park Circle ZIP codes: 21215
 
Park Circle is located in the North West region of Baltimore City. Mostly comprised of rowhomes which were built in the 1930s, and business parks, the neighborhood is located close to many of the city’s great amenities. The neighborhood borders Druid Hill Park where there is a public pool, the Maryland Zoo, walking trails and many acres for outdoor enjoyment. Park Circle also sits along the Liberty Heights Avenue corridor which allows for quick access to the shopping options at Mondawmin Mall, the MTA commuter hub, and Baltimore City Community College's West side campus.
 
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