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Updated over 9 years ago on . Most recent reply

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Lisa Hines
  • Investor
  • Severn, MD
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Having trouble finding a multi

Lisa Hines
  • Investor
  • Severn, MD
Posted

I'm looking to house hack in Maryland but none of the listings I'm getting in my target area are multis. There are some places that have in-law suites but with the prices around here, having two rents would be a huge plus and worth a lot of effort to me. Maybe someone has a suggestion for a good place to drive around? Unfortunately, Baltimore and DC are not viable places for me to commute from. Ideally, I'd like to live around the area of where 95 and 200 intersect. Any suggestions?

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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
ModeratorReplied

Hey @Lisa Hines . Unfortunately one of the downsides to our local market of Maryland, DC and Virginia is the lack of multifamily housing.  In the area you are describing 200 & 95 intersection which is basically Laurel/Burtonsville it is all but impossible to find a multi. Maybe once every three years one will come up in Laurel, and it is usually something with an illegal basement apartment and in very bad condition.

You have a few more options in Takoma Park....but those buildings are expensive, run down and subject to rent control.  In all of Montgomery, Prince Georges and Howard County there are currently only 8 multifamily properties on the market. Two are in Takoma Park,..one is a multimillion dollar apartment complex, one in Derwood which I suspect is not truly a multi, ..there is one in Hyattsville that I think doesnt look so bad.

If house hacking is your goal, and you want to be in your stated area, I would suggest maybe the roommate route.

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