Federal Hill/SoBo/Riverside Park - 21230

[Account Closed]

Hey BP,

I'm starting to narrow down my search to specific neighborhoods and I think that I'm looking now at Federal Hill, South Baltimore, and Riverside Park.  Do any of you BPers invest in these areas and have any tips-tricks for these particular neighborhoods?  These areas are a bit more expensive than I was originally thinking (~250k-$300k instead of $150k-$200k) to invest but seem to provide a great mix of potential appreciation, strong rent, and future development. They also seem safe, have a demographic of higher college attainment, etc.

How much does a 2br home rent for with a park view at Riverside Park?  I'm estimating about $2200.  Rent-o-meter indicates that an average 2br would fetch $1900 and a 3br would get $2600.  Are these numbers reasonable?  What kind of return would I see if I were to finish a basement with another bedroom (assuming basement heights are 6'+)?

Are there any particulars of the Port Covington renovation that would harm the community?

[Ned Carey]

@Account Closed  That area is known as 4X4 (The size is four blocks by four blocks) It is not a great area, although perhaps better than in the past. Now there are landlords who would be perfectly happy there and it looks like a very nice house for the price. It would probably rent for $1200 a month. Those are great numbers but it sounds like it is not for you  .  .  .  not for me either.

Nearby is Belair Edison which is considered a decent rental neighborhood. We own two homes there are would be happy to own more. It is what I would call the middle of the road for rental areas. 

There are a lot of areas between 4 X 4 which is on the low end and Federal Hill which is one of the nicest areas in the city. There are a lot of good rowhouse neighborhoods a level above Belair Edison in 21212 or 21239 but priced much less than Federal Hill etc.