Rental Property Investor · Annapolis, MD · Member since 2014 · 214 posts · 140 votes
I am seeking your advise, if you have recent experience, and understanding of the Waverly area. Normally,I am focused on the sub-markets in the Baltimore Washington Corridor, (for good reason) but someone brought me a deal opportunity the other day from Waverly/ Greenmount Ave area that on the surface I thought it might worth a look. Are there any local intricacies traps that i should watch out for in a deal?
Thanks in advance!
Val
ps. ( I mean to write: I am looking for some input, but smart ph is not so smart)
Rental Property Investor · Annapolis, MD · Member since 2014 · 214 posts · 140 votes
5y
It is a $3 Million Multi family project near Greenmount Ave and before I deep my toes in there any further I would love to hear some local's opinions of the area. Is it worth fixing up an apartment complex C- to B in the area? If we did that will I be able to find tenants for that price range? I am getting confused signal as far as development is going. I see infrastructure replacements and resurfacing on parts of Greenmount ave, but I don't see any of the usual Franchises that normally fallows the path of progress.
Property Manager · Baltimore, MD · Member since 2014 · 1k+ posts · 1k+ votes
5y
That is definitely one of those neighborhoods/parts of town where the specific location really maters. For instance the west side of Greenmount (closer to JHU) generally has higher values and rent rates than the east side of the road.
Overall the neighborhoods proximity to JHU means that while it may never be an A+ area, it should maintain value and neighborhood employment at a minimum.