Baltimore market rental property

[William Yanez]

Hello everyone anybody here from Baltimore that can give me some advice about rental property there I am actually from Sarasota never have been there before . 21216 thanks

[Stephanie P.]

Originally posted by @Joseph Brown:

i purchased for 14000. Renovatimg as we speak. An identical house around the corner sold for 127000 in feb. Stressing if i will get that type of value to refinance. What do you think?

Depends on the actual address, but I will say that you will not get that value to refinance.  Unless you bought it for 14K and will put 113K into it, you will not get that value (and even then, you may not).  There are many lenders that will not do a portfolio loan in Baltimore unless the loan amount is 100K+, so if you do a renovation and want to keep it, you should plan on conventional financing.

21216 is close to if not the most violent zip code in the COUNTRY; not just Baltimore. The school system that services 21216 got an F according to , the median house price in 21216 is $62,000, and the population has declined by 6% over the last 10 years.  I'm not sure which is worse, 21216 or 21217 when it comes to violent crime.  I tell people all the time, Baltimore is great, but if you are looking at the street names and they seem familiar, think about why they're familiar.  If you just got done watching The Wire or Homicide, Life on the Street, and that's why the street names are familiar, just pass on that property.  There are enough great buys in Baltimore where the margins work and it's not a war zone.  Buy there.

https://www.bestplaces.net/zip-code/maryland/baltimore/21216

https://www.areavibes.com/baltimore-md/greater+rosemont/livability/?zip=21216&ll=39.3083+-76.6772

https://maryland.hometownlocator.com/zip-codes/data,zipcode,21216.cfm