Rental Property Baltimore Maryland (Dundalk)

[Lukasz Kownacki]

Hello Everyone,

I am currently in the search of my first rental property. I was able to find this on a rental property and I used the calculator provided with Bigger Pockets and the numbers are looking great. I just wanted to run the property with you and see what you think. If you have the chance to review this I would greatly appreciate it. The address 1008 Elton Ave Baltimore MD 21224, two unit home, and I live minutes away from the property. It is on sale for 90,000 and seller is willing to pay half of the closing costs. They are both currently rented for $800 each. One of the tenants is late a week once in a while but catches up. The other is always on time. I will be financing with 20% down. The roof is rubber and fairly new, the HVAC units are older, 11 years, and may need replacement in the near future, as well as the water heaters. No major repairs or fixes. Taxes are around $1,700 and insurance would be around $400 yearly. A real estate agent marketed it for $130,000 but I think that is a little high. Is there is any other information that I can provide you that will be helpful I would gladly do so. Would you guys think this a good area and investment? I really appreciate your help and advice. D

Thank You,

Lukasz Kownacki

[Nicole A.]

Well, if it's for sale at $90K, then you'd of course offer something lower. As others have basically said, if you're looking to hold this property for the long-run, then this will probably be a great purchase.

Being a C-class area, I think the key is not hesitating to file for rent court when the tenants are late....and not settling for a questionable applicant when you have a vacancy. I have 6 units in Dundalk and am happy with the area.

Are the current tenants on a month-to-month lease or still have months left on a year lease? Has this seller been able to prove that one tenant pays on time and the other is sometimes late but always catches up? He could be downplaying the trouble tenant.

I know a great company that'll file rent court related stuff for you so you don't have to do it (or go to court yourself). PM me for more info or with any questions!