BIG EQUITY Occupied Rental in B+ Neighborhood Sold

  • $139,900
  • 3 beds
  • 1.5 baths

 

 


 

Hi Friend,

Last chance to grab this one before we put it on MLS. This comparable home just sold a few doors over for 10k over ask at 185k in only five days.

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. So put simply, this is the right place to own a rental property.

We fully renovated this home two Summers ago and it’s been pulling worry free rental income ever since. During that time, comparable sales in the area have climbed significantly as well, so now it’s time for us to let it go to a lucky buyer like yourself and repeat the process again.

Looking forward to answering your questions!      -Cris

Click Here to Call Cris Now


700 McKewin Ave, Baltimore, MD 21218
3br / 1.5ba – End-of-group Row Home
ROI: 10.28% + 45k Equity

Income Analysis
Listing Price: $139,900
Lease Rate: $1500/mo
Current Annual Taxes: $2236
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: $6,136
Adjusted Gross Annual Income: $11,864
5 Year Return: $59,320
10 Year Return: $118,640

Comps:
644 McKewin Ave sold 03/21 for $185,000
707 McKewin Ave sold 02/20 for $189,900
719 McKewin Ave sold 01/20 for $202,000
609 McKewin Ave sold 02/20 for $176,750
623 McKewin Ave sold 12/19 for $170,000

Property and Area Photos

Click Here to Call Cris Now


Click Here to Call Cris Now

More About Waverly Community



Waverly ZIP codes: 21218
A historic village in the heart of Baltimore, Waverly is a safe, culturally diverse neighborhood with an active community life, innovative schools, affordably priced housing, and a strong sense of community. Conveniently located near I-83, York Road and major bus connections, Waverly provides easy access to downtown Baltimore, Towson, and the beltway. Solid working/middle class neighborhood, with a high percentage of home ownership. Very active community association (Waverly Improvement Association) with lower than average crime stats (according to Northern Police District). Ancient Waverly, when it came into being, was called “Huntingdon,” from St. John’s Episcopal Church, Huntingdon the community’s oldest church, dating from the 1840s. In 1840 the town of Waverly included six buildings all clustered near the 3100 block of York Road: a shoemaker’s shop, a corn husk depot, a blacksmith, and three small stone houses. The shoemaker, Jacob Aull, was an immigrant from Bavaria whose sons built the houses in Waverly’s first housing boom and whose daughter Louisa became a neighborhood historian. Surrounding this little village, away from York Road, there were still the estates, summer houses, arboretums and horse farms of the affluent. In 1866, a large parcel of land, much of it previously used for pasture and farming, was bought and divided into lots. New avenues were laid out. More houses were built, as were the first firehouse, the town hall, and finally the Post Office. Obtaining the Post Office led to the change of name to Waverly, after Sir Walter Scott’s first novel, Waverley, to avoid confusion with the myriad Huntingdons. With rural origins and a history as a suburban village, by 1974 Waverly was considered representative of an urban community, and was used as such by the Gallop Poll. Residents of the 900 block of Homestead Street were asked whether Nixon should resign. According to the story, the first residents alerted all the others to be home and answer the door, and soon the President was gone.











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 saw a decline 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 this October 2020 Article from the Baltimore Sun you will find that sales prices have rebounded in full and are currently also exceeding list prices on average, across all local inventory. Further, with mortgage rates in amazing territory, the important Days on Market trend in the Baltimore real estate market is at an all time low!

Other Questions? Call Me now at 919-675-CRIS

 

Price:
$139,900
Address:
700 McKewin Ave
Baltimore, MD 21218
Bedrooms:
3
Bathrooms:
1.5
Terms:
For Sale
Property Type:
Row-house

Call (919) 675-2747 for more details

Property Location