5558 Midwood Avenue, Baltimore, MD 21212
*** 2 Apartment Duplex ***
— Chinquapin Park Neighborhood —
$49,900
ARV: $132,667
Based on Current Cap Rate of 9.5%
| Address | BR FB HB | Sold Date | DOM | List Price |
| 833 Benninghaus | 3/1/1 | 10/31/12 | 41 | $140,000 |
| 809 Benninghaus | 3/2/0 | 03/31/13 | 0 | $124,900 |
| 1035 Witherspoon | 3/1/1 | 03/28/13 | 175 | $134,700 |
| Area Results | $1,800 per month ($875 to $950 per unit) | |||
Why You'll Like This Deal
Location — location — location…Just off Belvedere Ave close to public transportation and centrally located in an area known for good rental properties. This is a must see with excellent cash flow (see Property Income Proforma).
Structurally sound with plaster walls and hardwood floors throughout this is a unique 2-Unit building excellent for the buyer who is looking for cost effective housing — live in one and rent the other or the investor who is looking for a property that has great bones in a great homeowner neighborhood.
Room sizes are spacious and the kitchen is “eat-in” proportions.
Tenant privacy means tenant satisfaction and the design of this property is terrific on this point. A private front entrance for each tenant plus a back stairway that runs from the second floor all the way to the basement insures both tenants have convenient access to a laundry storage area without interfering with each other.
As the price reflects the property needs work. However, it’s easy stuff — and it can all be done quickly so you will have this generating cash flow before Memorial Day.
| Multi Family: 2 Stories Plus Full Basement | |
| Living Room | 16 x 11 |
| Kitchen | 10 x 6.4 |
| Master Bedroom | 11.7 x 11.2 |
| Bedroom 1 | 11 x 9.4 |
| Bathroom | 6.4 x 5.6 |
| Full Basement | 30.11 x 20 |
