21% ROI – Huge 7 bedroom Occupied Rental Sold

  • $109,500
  • 7 beds
  • 2 baths
 

Hi Friend,

Today we’re moving a few miles West of last week’s offering, to beautiful green spaces that back up to Druid Hill Park & The Maryland Zoo in Baltimore. Following theme, within quick cycling distance we have numerous colleges including Loyola UniversityBaltimore Polytechnic Institute, Coppin State University and Baltimore City Community College. There’s also a Charter School and Early College as well for younger students to thrive.

We just went thru this home during tenant turn over and did numerous upgrades while doing standard repairs. Some of the notable work included new flooring on the 2nd story, new paint throughout and most importantly we finished the basement to give it a full three stories of living space. This huge home now boasts seven bedrooms & two full baths, plus a den, mudroom and laundry. Even better, your new essential employee tenants moved in July 1st on a 2yr lease.

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



 

2924 Rockrose Ave, Baltimore, MD 21215
7br / 2ba + Finished Basement
ROI: 21.03%

Income Analysis
Listing Price: $109,500
2yr Lease Rate: $1500/mo
Current Annual Taxes: $1182
Estimated Annual Insurance: $600
Estimated Annual Maintenance Costs: $1,500
** 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: $1800
**The fee is 10% of the monthly rent.
Annual Net Rental Income: $18,000
Annual Cumulative Hard Costs: $5,082
Adjusted Gross Annual Income: $12,918
5 Year Return: $64,590
10 Year Return: $129,180

Comps:
2800 Rockrose Ave sold 10/19 for $134,900
3829 Reisterstown Rd sold 01/20 for $163,603
3702 Park Heights Ave sold 01/20 for $120,000
2568 Druid Park Dr sold 03/20 for $150,000

Property and Area Photos

 

 

 

 

 

 

More About Park Circle Community

 

 



 

Park Circle ZIP codes: 21215

Park Circle in Northwest Baltimore borders Druid Hill Park and its many amenities. The neighborhood is made up primarily of row houses and consists of a diverse mix of residents, who together function as a unified community. Residents enjoy quick access to shopping options and public transportation options.  The neighborhood is also home to numerous green spaces and hosts wonderful events such as the yearly 1st Day Hike and the seasonal Druid Hill Farmer’s Market. Be sure when visiting to check out the year round events scheduled at the historic Rawlings Conservatory pictured below, which was opened to the public in 1888 or enjoy a day trip to the Maryland Zoo in Baltimore. It’s also a quick bike ride to the Maryland Institute College of Art with excellent proximity to downtown and the Inner Harbor.

 

 


Druid Hill Park Green Map










 

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:
$109,500
Address:
2924 Rockrose Ave
Baltimore, Maryland 21215
Bedrooms:
7
Bathrooms:
2
Terms:
For Sale
Property Type:
Row-house
Basement:
Finished Basement

Call (919) 675-2747 for more details

Property Location