Vacant & Ready for Rebuild in Belair Edison

3407 Ravenwood Ave, Baltimore, MD 21213

$115,000 After Repair Value -
$35,000 Asking Price -
$50,000 Cost of Repairs =
$30,000 Potential Profit

Property Details

Asking Price $35,000

After Repair Value $115,000

Costs of Repairs $50,000

Potential Profit $30,000

Living Area 932 ft2

Property Type Single Family House

Bedrooms 3

Bathrooms 1

Half Bathrooms 0

Parking 0

Listed with Agent No

EPI (Estimated Potential Income)

Potential Rental Income $1,200

Yearly Expenses $1,500

Property Taxes $306

Net Operating Income $12,594

Cap Rate 10%

Property Description

Located in south part of Belair Edison. This neighborhood has a lot of renovation activity (we own another 6 properties here, all in various stages of renovation). This is a 3/1 that can be converted into either a 3/1-1/2 or 2/1-1/2. In one of our homes we took out the wall between the 2 kids bedrooms and created a beautiful 2/1 upstairs and added a half bath down. Our renovations selling for over $110K, so plenty of room. We will joint venture or sell outright. Property values rising as vacant homes are rebuilt.

Repairs Needed

Everything, from wiring, plumbing, HVAC & framing. Ability to redesign home. All brick/concrete structure.


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