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)