Investing in Area Around Pimlico Racetrack--Input??
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.