Narrowing Down Target Market/Establishing Search Criteria in Baltimore

[Alyssa Yumi Nelson]

I own my primary in DC, have a rental in Upper Fells and have recently started my search to expand my portfolio. My target total purchase price is 175k-200k, and I am hoping to buy a relatively turnkey place that will cash flow with some modest appreciation as a LTR. (Although I am a bit more interested in cash flow at this point.)

I am told in my price range this would be difficult to do in Baltimore City, at least in a neighborhood that is less risky/has some appreciation potential/is desirable to tenants. Questions: 

-I am looking at Patterson Park area, Upper Fells, Highland town. Is it possible to buy relatively turnkey property in the 175k-200k range that is worth buying? Are there other neighborhoods I should be considering?

-I’m trying to establish criteria for a “good property” is. For example, I am told a two-bedroom is not desirable. I’m not sure this is true, but is there anything else I should keep in mind that I should consider a deal breaker- like a minimum square footage, lack of parking pad etc.

-I’m also considering Dundalk area. Is there sufficient rental demand there? According to one source there appears to be very little appreciation there; can anyone confirm? If anyone is familiar with Dundalk and would be willing to chat I’d appreciate it.