23% ROI Rental home for just 80k Sold

$80000
4 beds
2 baths

Sold

Price:: $80000
Address:: 526 N Potomac St
Baltimore, MD 21205
Bedrooms:: 4
Bathrooms:: 2

Terms:: For Sale
Property Type:: Home
Basement:: Unfinished
Const. Type:: Brick Row Home

Additional Features

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Hi Friend,

Today we've got an excellent and affordable opportunity just walking distance from the number three Hospital Campus in the United States, The Johns Hopkins Hospital . This four bedroom, two bath rental home is currently occupied and earning an outstanding 23% ROI. Further, this low maintenance row home sits in an active revitalization area where we have a number of other managed assets and renovation sites. Walking distance from Patterson Park and the Inner Harbor as well, tenants enjoy access to Baltimore's best green spaces. Hold it long term just as it sits, or we'll help you freshen it up at the next tenant swap and sell it for a profit. The choice is yours.

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

526 N Potomac St, Baltimore, MD 21205
4br/2ba
ROI: 23.43% + 10k Equity
Income Analysis
Listing Price: $80,000
Rental income: $1200/mo
Current Annual Taxes: $1,167
Estimated Annual Insurance: $600
Estimated Annual Maintenance Costs: $1,200
** 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: $1,440
**The fee is 10% of the monthly rent.
Annual Net Rental Income: $14,400
Annual Cumulative Hard Costs: $4,407
Adjusted Gross Annual Income: $9,993
5 Year Return: $49,965
10 Year Return: $99,930

Comps:
613 N Bouldin St - sold 08/18 for $100k
613 N Clinton St - sold 07/18 for $91k
3017 McElderry St - listed for $140k
2933 McElderry St - sold 08/18 for $134k

Property and Area Photos

More About McElderry Park Community

McElderry Park ZIP codes: 21205

McElderry Park is an exciting community in the process of revitalization with many investors and residents participating in the forward progress. The neighborhood is rich with assets to help this effort:
- A strong community association and active group of stakeholders
- Housing stock available at affordable prices
- Two Community gardens, murals and restored lots
- Community Resource Center and local libraries
- Two Schools, several day cares and lots of afterschool programming partners
- Monument St. shopping corridor and proximity to Northeast Market
- Close to The Johns Hopkins Hospital, Patterson Park, Butchers Hill, the Highlandtown Farmers’ Market, Canton & Fells Point and the Inner Harbor
- Easy access to all major highways and routes.
McElderry Park is part of the East Monument Historic District. Development began in the area in the 1870’s. The district was the center of the city’s Bohemian immigrant community. Many of the two-story Neoclassical row houses in this area were built by a group of Bohemian builders, including Frank Novak. Frank Novak later became the city’s most prolific builder of reasonably priced two-story houses, concentrating his efforts in the eastern and southeastern sections of the city as industrial expansion brought even more jobs to this area. Construction in the neighborhood was essentially completed in 1926. Modern day organization of the community began in the 70’s by a group called NAG, Neighbors Against Grime. In 1985 the McElderry Park Community Association was formed.

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. It's one of the largest development projects currently on the East Coast, bringing in 20k new employees to the downtown area. Recently Goldman Sachs invested $233 Million in this project too in an effort to lure Amazon to make Baltimore it's 2nd Home.

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.

Call (919) 675-2747 for more details