Baltimore Analysis - Waverly Area

[Michael Perry]

So my business partner and I are looking at another turn key property right now in the the Waverly area and we'd love to get some help analyzing this one.

 548 E 38th St. 21218

3 bed, 1 bath townhouse, fully renovated, updated windows, new roof

asking $110k, seller says the home is worth about $140k, seller will place voucher tenant through one of 13 subsidized programs in Baltimore. Tenant is placed before settlement. Rent will be between 1400-1500.

We have analyzed the the numbers through the rental calculator. The main question I have is for people who know Baltimore and know these neighborhoods. Is 1218 a neighborhood you would invest in? Do these numbers add up for what the ARV value is supposedly at and what the rent would be in that area?

Any help is appreciated.