Updated almost 9 years ago on . Most recent reply
Baltimore rental property - Good buy?? Advice plz
Hey all,
I'd love to get your thoughts on this potential deal. looking to make an offer. How do these numbers look? I know it isn't hitting the 2%, but it is in a GREAT area and should be some decent appreciation each year. Around 5% hopefully.
Listed at 160K. Property is rent-ready. Fully updated. Might replace carpet, paint, and add washer/dryer. Slight chance roof needs repairs but it is a townhouse/row home, so roof isn't a huge deal.
Some of the numbers are estimates. Please let me now what you think, thanks!
Most Popular Reply
At a leveraged 6% cash-on-cash return and essentially no equity (you'd lose money after your selling costs were factored), I don't see this being a good deal at all. If this is a row-home in Baltimore City, that makes the deal even worse, as you can get mediocre deals like this in MUCH better areas and on detached single family properties, which are much more desirable.
Personally, I don't like this deal...