Federal Hill/SoBo/Riverside Park - 21230
Hey BP,
I'm starting to narrow down my search to specific neighborhoods and I think that I'm looking now at Federal Hill, South Baltimore, and Riverside Park. Do any of you BPers invest in these areas and have any tips-tricks for these particular neighborhoods? These areas are a bit more expensive than I was originally thinking (~250k-$300k instead of $150k-$200k) to invest but seem to provide a great mix of potential appreciation, strong rent, and future development. They also seem safe, have a demographic of higher college attainment, etc.
How much does a 2br home rent for with a park view at Riverside Park? I'm estimating about $2200. Rent-o-meter indicates that an average 2br would fetch $1900 and a 3br would get $2600. Are these numbers reasonable? What kind of return would I see if I were to finish a basement with another bedroom (assuming basement heights are 6'+)?
Are there any particulars of the Port Covington renovation that would harm the community?