29 S East Ave, Baltimore MD 21224
3 bed/1 bath SFR / 1,288 sq ft / Done & Rented
About the project
Built in 1920, this brick single family home is located in the desirable Patterson Park neighborhood. It has been fully rehabbed and tenanted. The Cap Rate at 7.8% is very attractive for a property in an A- neighborhood. We believe there is 10% built-in equity on this property. This would be a great addition to help balance your portfolio and provide a good exit strategy by being able to sell both to investors and owner-occupants.
Price: $200,000
Renovation: $0
Total All In: $200,000
Rent: $2,100/mo
Property Mgmt (10%): $210
Insurance: $58
Taxes: $259
Licences: $25
Maintenance (5%): $105
Vacancy (7%): $147
Total Expenses: $804
NOI per month: $1,296
Cap Rate: 7.8%
GRM: 7.94
Comps*: $220,000
* Comps are NOT a guarantee, but an estimation of after repair value (ARV)
