🏡 Turnkey Rental Earning $1,300/mo – 10% Cap Rate Out of the Gate
🔑 Tenant in Place, Lead-Free, Updated Inside
- 💰 10% cap rate on a cash purchase at $109,400 — 14.3% gross yield
- 👪 Same tenants since December 2023 paying $1,300/mo
- 📜 Lead-Free certified (Maryland Department of the Environment) — one-time inspection, no renewals
- ✅ Updated interior — no rehab, no vacancy, cash flow from day one
📊 Investment Highlights
- 🛏️ 2 bedrooms + a middle bonus room (office, den or TV room) and 1.5 baths
- 🪵 Wood-look vinyl plank flooring throughout and fresh neutral paint
- 🍳 Kitchen with wood cabinetry and gas range
- 🛁 Tiled bathroom with tub/shower and updated vanity
- ☀️ Skylight over the upstairs hall
- ❄️ Air conditioning
- 🧺 Unfinished basement with laundry
- 🧱 Brick row home built 1920, ~1,130 sq ft (public record), rear yard, street parking
📍 East Baltimore Midway Insights
- 🚌 Quick access to the Greenmount Ave and Harford Rd corridors
- 🏥 Short drive to Johns Hopkins Hospital and the Homewood campus
- 🚆 Minutes to Penn Station and I-83
- 🔁 Steady rental demand — tenants have stayed put
⭐ Why 718 Bartlett Ave Stands Out
- 💵 10% cap with the rent already coming in
- 🏘️ Updated homes on this block sell for ~$150K
- 📜 Lead-Free certificate — a compliance item most Baltimore rentals have to keep renewing
- 🔑 Full-service management available — we handle tenants, rent collection and maintenance
📲 Call Cris Now — (919) 675-2747
Run the numbers — 718 Bartlett Ave
Change the down payment or rate — every figure updates. Management at 10% and a full month’s rent in maintenance reserves are already built in.
Annual Revenue & Expenses
| Gross rent ($1,300 × 12) | $15,600 |
| Property taxes | −$724 |
| Home insurance | −$600 |
| Property management 10% | −$1,560 |
| Utilities – water | $0 |
| Ongoing maintenance | −$1,300 |
| Net operating income | $11,416 |
| Total investment (incl. $4,733 closing) | $114,133 |
| Cap rate (cash purchase) | 10.00% |
Financing
| Down payment (25%) | $27,350 |
| Est. closing costs | $4,733 |
| Cash to close | $32,083 |
| Loan amount | $82,050 |
| Mortgage payment / mo | $560 |
| Annual cash flow after debt | $4,699 |
Estimates only, not a guarantee of future performance. Closing costs estimated at 3.435% of price (transfer, recordation, title) plus $975 in fixed fees. Maintenance reserve = one month’s rent per year. Management = 10% of collected rent (minimum $99/mo). Financed figures assume a conventional or DSCR investor loan; actual rate, terms, and eligibility depend on the lender. Buyer to verify all figures independently.
Pro forma figures are estimates based on current rent less estimated property taxes, insurance, management, maintenance reserves and closing costs. Property details and features are as provided by the seller and public records. Buyer to verify all figures and complete their own due diligence.