Anyone from Baltimore MD to advise on the area?

12 Replies

Anyone from Baltimore MD here to advise on the areal.  I am out of state and Looking for a rental property.  Founding some properties where my numbers work, but not sure about the area.  Western Baltimore area Zip code 21223 . I would really appreciate some advise from locals.  Thank you!

My advice, don't get stabbed while in Baltimore.

Look for places in canton , fells point , federal hill those are the most popular and nicer parts of Baltimore city .

Originally posted by @Anthony Dooley :

My advice, don't get stabbed while in Baltimore.

 LOL--or anywhere else!

Baltimore has some great and not-so-great places.  Baltimore has come a long way in the last ten years.  Make sure you do your due diligence and check crime statistics, but @Scott France is spot on... Canton, Fells Point, and Federal Hill are prime candidates for rental properties.

Happy house hunting!!!

Baltimore is all about the BLOCK.

Do your research in person.

You could buy a "great opportunity" on a block full of board ups if you're not careful... and nobody will show up to your absolute auction sale 2 years later.

Many investors I know would tell you that it's very hard to cash flow in Canton, Fells and Fed Hill if you're buying there now. For the same price as a down payment on a property in one of those areas, you could buy a house free and clear in a lower income part of the city that will net $1000+ per month. 

@anna kahn - there are quite a few people investing in the 21223 zip code, especially along the Wilkens Ave area. If you are interested in investing locally, I would try to link up with a wholesaler in that market. 

there exist two is where a well to do human might live by choice, the other is everywhere else. your house is in "everywhere else". And "everywhere else" is where landlords cashflow if they know what they are doing. The first place is where cashflow rarely occurs because taxes are insane, home prices are insane, and rents dont correlate. In truth, one can rent a house anywhere in baltimore if they know the neighborhood, ,house, its not in an impossible spot, its put toghether correctly, and priced correctly. Good luck

@Tim Youse is correct. Properties in these areas area typically on blocks with boarded up homes.  There's a lot of crime.  That being said, there is cash flow because they are usually section 8 rentals, which is a check every month.  Try to find a property with a rental history, so you know what you're getting into.  Many investors sell off parts of their portfolio after a while and they keep rental history.  Also, don't bank on these neighborhoods changing any time soon.

Thank you very much everyone for your replies. (I will try my best not to get stabbed 😂) :)

I just moved from Maryland. Worked in Baltimore, lived 25 miles north in Fallston. Not to beat a dead horse, but it is an extreme area from one spot to the next. One street could be beautiful, newer homes and high end apartments on the Inner Harbor but a block over I wouldn't get out of my car. Housing prices are insane there, so realize the people who rent in those areas probably do so because they can't afford the down payment for a $300k-$1m home elsewhere.

Not to sound snobbish, but I wouldn't live anywhere not in a bare minimum of the $300s if I was within 50 miles of B'more. And that may not break 1800 sq ft. You also couldn't support a small family on less than $100k salary anywhere decent. 

On a side note, town homes there are very popular. If you could purchase one at a good price in a nice area, you could worry less about the exterior maintenance (HOA) being out of state.

@Anna Khan 21223 is one of the toughest zip codes in the city. As @Tim Youse says there are some excellent landlords making very good  money in a small part of that zip code.  But this is NOT a zip code for long distance investing.The red marker on the map is not where you want to be. 

Where DO YOU want to be? That is a tough question without knowing your goals like cash flow vs appreciation and your risk tolerance.

You should listen to Ned Carey . He's 100 percent right on that , those areas Canton , Fells Point Patterson Park will have good appreciation but it will be a struggle to cash flow , but if your looking in the B to C market with good prices and decent cash flow there are deals to be found almost all over. Try areas like Cedonia , Bel Air Edison , garwyn oaks and Gwynn oaks you usually can get decent prices in decent areas with decent to great cash flow

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