Property ID : Ravenwood3318
Sold Comp $30,000.00 - Single Family Home
SOLD FOR $30,000 on June 2,2017. House was vacant at the time of sale.
Belair-Edison is one of the those up-and-coming areas where investors are moving in and picking up properties on the cheap. Located north of the Johns Hopkins East Baltimore Medical and Research area, growth is coming north. Many moderate income residents have been priced-out of the area right around the hospital, making an area like Belair-Edison more appealing and more affordable. Clifton Park, with its golf course and recreational areas, is just 2 blocks away.
The house has been certified lead-free limited. A covered front porch and small grass yard welcome the residents. A new rubber roof was installed in 2013. Three bedrooms are on the second floor along with one full bathroom. The bathroom was totally gutted about 5 years ago with a new steel/porcelain tub, including diverter and faucets, ceramic tile shower enclosure, ceramic tile floor, and new vanity.
The first floor has a living room, dining room, kitchen and a laundry room. The house comes with a full size washer and gas dryer. Kitchen appliances include a 30″ gas range and refrigerator. The kitchen cabinets are solid Maple, the Coronet line from National Lumber. These cabinets are attractive and very well built. 12×12 vinyl tile is on the floor.
The front of the basement has been constructed as a club room, or it could be a fourth bedroom, with wall-to-wall carpet, drywall, and suspended grid ceiling tile. The rear basement has a utility room with a door that walks-out onto the concrete fenced rear yard.
The house has 100 amp circuit breaker electric service, a copper water main, and all interior pipes are believed to be copper or CVPVC.
The current tenant is moving out May 31, 2017. He currently pays $850 per month in rent, plus all utilities.
NOTE: This property is owned by an LLC whose sole member is Ben Frederick III, a Maryland Real Estate Broker
CAP RATE: 25