Rental Property Investor · Washington, DC · Member since 2017 · 12 posts · 3 votes
I'd be interested in any feedback from the forum regarding a potential investment near Pimlico Racetrack. I went to see a 2-unit property recently that is in the Arlington neighborhood. The property itself has good bones and would otherwise make for a good investment as the numbers all add up.
The area is listed as "moderate" crime in Trulia, however the street itself, as well as the surroundings streets, are perfectly fine. Cars are decent, not much trash, generally kept up. However, much like lots of Baltimore City, if you go a few blocks over you're in a pretty rough area. The property will probably sell for $80-$95K depending on how motivated the seller is. I know that there has been talk about redeveloping Pimlico but those conversations could go on for years... so I'm not relying on it.
Just wondering if anyone else has had experience (positive or negative) investing in rentals around the Pimlico Racetrack.
Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
7y
@Hugh Rosen That area doesn't excite me but I don't know the particular street or address. I have one on the 3300 block of Avondale which is closer to Pimlico. I am happy with it.
I think $80 might be reasonable but my guess is it would be overpriced at $95k. I just sold a 2 unit property renovated to a rental level for $75 in a nicer neighborhood.
I'd be interested in any feedback from the forum regarding a potential investment near Pimlico Racetrack. I went to see a 2-unit property recently that is in the Arlington neighborhood. The property itself has good bones and would otherwise make for a good investment as the numbers all add up.
The area is listed as "moderate" crime in Trulia, however the street itself, as well as the surroundings streets, are perfectly fine. Cars are decent, not much trash, generally kept up. However, much like lots of Baltimore City, if you go a few blocks over you're in a pretty rough area. The property will probably sell for $80-$95K depending on how motivated the seller is. I know that there has been talk about redeveloping Pimlico but those conversations could go on for years... so I'm not relying on it.
Just wondering if anyone else has had experience (positive or negative) investing in rentals around the Pimlico Racetrack.
Would you invest in the area? Why/why not?
Thanks in advance.
Depends which side of Northern Parkway you are on, the North side is better