431 E Lorraine Ave, Baltimore, MD 21218

2 bed/2 bath SFR / 1,200 sq ft

 

About the project

This is a single family brick property in the Harwood neighborhood,  north side of Baltimore (Charles Village). Recently renovated, this property has been finished to a high rental standard.  We believe there is 18% equity built in at closing on this SFR. With a full 7.9% Cap Rate and strong built-in equity, this is a great addition to your portfolio. There’s a tenant in place – immediate cash flow upon closing.

Price:                              $85,000

Renovation:                  $40,000

Total All In:    $125,000

Rent:                                $1,400/mo

Property Mgmt (10%):   $140

Insurance:                       $58

Taxes:                               $190

Licenses:                         $25

Maintenance (5%):         $70

Vacancy (7%):                 $98

Total Expenses:              $581

NOI per month:              $819

Cap Rate:                         7.9%

GRM:                                 7.44

Comps*:                           $152,000

* Comps are NOT a guarantee, but an estimation of after repair value (ARV)