Cleaned up Fix/Flip with 100% upside in gov’t backed redevelopment neighborhood

1816 Harlem Ave, Baltimore, MD 21217

$110,000 After Repair Value -
$49,000 Asking Price -
$25,000 Cost of Repairs =
$36,000 Potential Profit

Property Details

Asking Price $49,000

After Repair Value $110,000

Costs of Repairs $25,000

Potential Profit $36,000

Living Area 1750 ft2

Property Type Townhome

Bedrooms 3

Bathrooms 2

Half Bathrooms N/A

Parking 0

Listed with Agent 1

EPI (Estimated Potential Income)

Potential Rental Income $1,800

Yearly Expenses $200

Property Taxes $0

Net Operating Income $1,400

Cap Rate N/A

Property Description

A standout stone front fix and flip, perfectly placed in the middle of the recently announced $200 million Harlem Park Redevelopment Project. This three story, 3bd/1.5ba, 1140 sq ft property sits on one of the largest lots in the area at 1720 sq ft. In addition to the mahogany hardwood floors and artisan 1920’s oak staircase banister, the spacious naturally lit unfinished basement can easily be turned into a fourth room and bathroom. This house sits in style, shaded by a lovely maple tree overlooking a well-manicured park that backs up to a small middle school. Rental rates and home prices for fully renovated homes are spiking up in this area due to the city funded redevelopment project, pushing rents up to $2000 a month and property prices well over the six-figure mark. Two much smaller properties on the same block at 1832 and 1834 Harlem Ave recently sold for over $100,000, and if you go a block or two over, houses are selling for close to $150,000 - like 2128 Mount Holly St and 2600 Huron St.

Repairs Needed

Finished carpentry and a complete refit of bathrooms and kitchen.


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