Buy/Hold Baltimore rental advice in 21215

[Gabriel Ehrlich]

Calling all investors in the 21215 area of Baltimore city, I need your expertise!!  An opportunity has come my way recently but I just don't know the area well enough.

A friend of mine is selling his rental property on the 2400 block of Shirley Ave. He is selling it to me for 70k.  It is a true 4BR and 2 BA. The property needs 25k at most in upgrades ( electric, roof, plumbing, and hvac replaced 10 years ago).

He said he was getting $1600/mo section 8  for the house from the same lady for the past 9 years. 

No Board-ups on this block

A house on cold spring just sold for 150K (which is a very busy main road) And another home sold in the area for 170 (an outliar)

I believe once I renovate it the house will appraise for 145k at least. I would be using the BRRR strategy so this would work very well.

What do you think bp, should I pull the trigger or is this area just a dead zone?

[Ned Carey]

@Gabriel Ehrlich Without doing any research, my gut tells me the rent and price are too high. However numbers don't lie, If it is an honest $145 ARV that seems to be a reasonable deal.