Are you kidding me? comps at 250k and more?
Thrive Development specializes in selling rental properties in hot up and coming areas that have huge potential for future re-sale value. Rent the property now and get a better cash flow than any market in the country. This property has an estimated 20% net ROI. Rent it for 2-5 years and sell it for double what you paid for it.
This home will rent for about $1300 a month
Why this property? Because right around the corner houses are selling for double of what you will pay for this.
Full address will be given upon request.
This property is located right in between Patterson Park and John’s Hopkins Hospital. Patterson Park is a historic Baltimore neighborhood nestled between Canton, Butchers Hill, McElderry Park and Highlandtown. Johns Hopkins Hospital is an 8 billion dollar health care facility which has been ranked the #1 hospital in the United States for many years by U.S. News and World Report. These 2 locations are some of the hottest areas in all of Baltimore, putting this home in a PRIME location for huge potential resale value.
Recent homes sales in the area:
- 430 Milton Ave North Sold for $249,000
- 406 Milton Ave North Sold for $230,000
- 411 Milton Ave North Sold for $249,000
- 2319 McElderry St Sold for $199,900
- 2327 Ashland Ave. Sold for $159,900
- 745 N. Chester Sold for $200,500
- 531 N. Washington St. Sold for $190,000
See below map:
Income Analysis for this Property:
List Price: $90,000 (Cost of home plus updated renovation)
Total Monthly Projected Income: $1300/mo
Annual Taxes: $849
Annual Insurance: $800
Estimated Annual Maintenance: $1300
Annual Property Management: $1560
Annual Gross Income: $15,600
Annual Cumulative Hard Costs: $4509
Annual Net Rental Income: $11,091
5 year Return: $55,455
10 Year Return: $110,910
These numbers do not include the return on future resale value due to this property being located in a hot neighborhood.
Here’s how the Custom Turn Key Rental Process works with Thrive Development:
Next here’s an example of one of our completed custom turn key rental renovations:
And here’s one more: