$322,500
$350,000
7.9%For more information regarding the value of a property, please contact us for a free consultation.
207 W 29TH ST Baltimore, MD 21211
3,475 SqFt
Key Details
Sold Price $322,500
Property Type Townhouse
Sub Type Interior Row/Townhouse
Listing Status Sold
Purchase Type For Sale
Square Footage 3,475 sqft
Price per Sqft $92
Subdivision Remington Historic District
MLS Listing ID MDBA522040
Style Traditional
Year Built 1920
Annual Tax Amount $4,543
Tax Year 2019
Lot Size 2,250 Sqft
Property Description
Attractive porch-front brick rowhome with 3-apartments, including a two-story 3-bedroom unit, a 2-bedroom unit on the second floor and a small one-bedroom apartment on the third floor. Two wood decks overlook the rear parking pad, which easily accommodates 2 vehicles on this 25 wide lot. The wide lot makes for bright, large interior room sizes, giving an attractive sense of space in which to enjoy comfortable living. Remington is Baltimores hottest and fastest growing neighborhood. The quirky Paper Moon Diner is at the end of this block and R-House Food Hall creates a great space for excellent food and super socializing is just down the street. The Wyman Park Dell is 1 block away providing space for festivals, walks, park benches for reading and a tot-lot for playing. The Baltimore Museum of Art is 1 block to the north, with the Johns Hopkins University Campus directly behind that. I-83 is easily accessible directly from West 29th Street, with the ramp 1/3 of a mile from this property. This location in Remington garners a Walk Score of 92, a Bike Score of 80 (the Maryland Avenue Cycle Track with protected access to Baltimores Inner Harbor is one block away), and a Transit Score of 61 making this location very attractive to renters in todays market. Walkscore.com gives its best rating for crime and safety in this location, with an A grade. The building features a two-level apartment on the first floor and terrace, that is configured as a three-bedroom, two-bath apartment with a large storage room. A large two-bedroom apartment is on the second floor. The third floor is somewhat smaller, with a one-bedroom apartment. The kitchens and baths are older; the first floor has apartment grade wood cabinets, while the second floor has vintage metal cabinets and the third floor has older laminate cabinets. Each apartment has an electric range; 30 on the first floor, 20 on the second and third floors and each has a refrigerator. Kitchen and bath floors are vinyl tile. Each bathroom has a shower/tub with vinyl tub enclosure. The owner pays the gas (there is 1 meter) for heat and hot water. The Weil McLain gas-fired boiler, with radiator distribution, has 3 circulator pumps, so each apartment has its own thermostat. Adding 2 boilers and 2 gas meters would allow one to have each tenant pay their own heat cost. While there are 3 electric meters, the landlord pays 10%of the first-floor meter (averaging $16 per month) for the hallway lights, with the tenant paying the balance. Water/sewer costs are passed through the tenants, with each paying a share of the bill. INVESTMENT SUMMARY: $350,000 Investment $116,677 per unit $126 per square foot 9.0 Times Market Rent (GRM) 8.9 Times Actual Rent (GRM) 7.56% Cap rate 10.8% cash-on-cash return on investment
Location
State MD
County Baltimore City
Zoning R-8
Interior
Hot Water Natural Gas
Heating Radiator
Cooling Window Unit(s)
Exterior
Garage Spaces 2.0
Water Access N
Roof Type Built-Up
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Baltimore City Public Schools
Others
Acceptable Financing Cash, Conventional, FHA, FHA 203(b), FHA 203(k), VA
Listing Terms Cash, Conventional, FHA, FHA 203(b), FHA 203(k), VA
Special Listing Condition Standard
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Bought with Quentin Jones • Taylor Properties