Updated almost 6 years ago on . Most recent reply
Need help determining whether I have a good deal
Hi friends, this is my first post and first property.
I'm under contract on a row house in Baltimore at $307,000. About to do inspections, but want to make sure the math is right. It'll be a house hack at first. I plan to live there at least a few years. There are three levels, each with its own full bath and kitchen. The math for after I move out initially penciled out as a 3-unit, but I just learned from the seller's agent that it's technically only a 2-unit. The two lower units are on the same electric meter. The top unit has it's own. I'm wondering what determines how many "units" are in a property. Is there any reason I couldn't rent the bottom two units to two separate people?
Jeremy
Most Popular Reply
The lower two units being on the same electric meter doesn't automatically mean that the they aren't legally separate units, but its not a great indicator either. Ask the seller to produce the rental licenses for the property - that should give you your answer. Good luck!