This fantastic four bedroom, two bathroom property is located in New Southwest-Mount Clare Franklin which is just just 1.7 miles from Downtown Baltimore and also just 1.3 miles from the Stadium District. The property has just been tenanted at $1,400 per month which for this location is very reasonable. Four bedroom, two bathroom properties which are rare in this location and can achieve up to $1,900 per month. The property is under management by a great local company.
The property is located in Mount Clare right next to Pigtown which is a sought after location in Baltimore. The property is just 7 minutes and 1.3 miles from the M&T Bank Stadium home of the Baltimore Ravens of the National Football League. The stadium is immediately adjacent to Oriole Park at Camden Yards, the home of the Baltimore Orioles. This is a very popular area for investors.
Purchase price: 69,900
Gross annual rental income: $16,800
Property running costs: $3,479
(Tax, insurance and management costs)
Net annual rental income: $13,321
Investment calculation - Net Income divided by Purchase price = NET ROI.
Return on investment: 19%