Charles Village Baltimore 10 unit multifamily investment

[Haley Varner]

I'm looking at doing my first real estate investment in Charles Village Baltimore.  The property is a 7 unit 6,603 SF recently renovated brick 2-story.  100% leased with 5 1-brs, 1 2-br and 1 3-br.  Annual rent at 80k.  Gross expenses $24k.  Asking price $570k.  

Rent/unit seems to be at market currently and with the recent renovation I understand there's not a lot of potential "value add".  However, I'm thinking with the recent riots, investors are a bit gun shy here and I might get a low ball offer accepted.  Would a 10% cap be decent for this neighborhood?  John Hopkins is right down the street.  

Any feedback on your sentiments on Baltimore, return thresholds for this product type there or details around the Charles Village neighborhood much appreciated.  Many thanks!