Baltimore Flipping in Fells Point

[Shaniqua Dupree]

So there is a property in Baltimore, MD that I have had my eye on for some time now. I have been watching the market in the area the home is in. Ive looked at the comps, how quickly homes sell, how long they sit on the market, the renovations or lack there of, etc.

5 homes has sold within three months that are similar to this home except this one is completely gutted and no street parking. You have to walk around the corner. The street the home is on is just a through street. But its the only vacant home on the block. Plus its 3-4 blocks away from the water. Profits could be a definite 20k+ in relation to comps.

My question is why in the world is there not an investor jumping on this property. As many people from Baltimore know a 700sqft rowhome in fells point can sell for 125k or more depending on the reno. What would be the reason this has not sold?  I tried to give as much info as possible for you to see my point. I have a feeling that if a property is not taken by another seasoned investor in a good area within a certain amount of time something is probably terribly wrong with the property. Or do experienced investors not like to deal with banks? Any insight is appreciated. Thanks.