$206,000 Price Analysis 4410 Elderon AveBaltimore, MD 21215 4 bed None bath 1,254 SqFt ($164/SqFt) 7,497SqFt lot. Built 1940 Listed 2024-03-24 | Ⓧ USDA Ineligible due to location near Baltimore |
A duplex in a quiet block of West Arlington neighborhood. Separately metered, separate entrances and ready for immediate cash flow in current condition. Total rental income is approx. $2345 per month. Unit 1 is a 2/1 at $1480 and currently ccupied with strong market value rent from Sec 8. Unit 2 is 1/1 at $900 and recently vacant with previous long term tenant. There are several value add opportunities to increase cash flow. Add an extra BR and BA to Unit 1 in the sizeable basement not being utilized to convert to a 3/2 and increase rental income to $1600+.
With some cosmetic rehab, there is a strong opportunity to increase total rent over $2700. The other option is to convert the basement to a separate 1/1 unit rehab can be done while tenant resides in property. Another option is to convert to a SFH for ARV of $320-335K based on recent comps (4111 Groveland Ave - $335K, 4011 Elderon Ave - $320K). Rental license and lead certification up to date throughout ownership of property. A new roof was installed in 2022; there is new concrete/walkway pavement to the house and all maintenance are up to date. As-is condition.
Presented by Thomas Kane at
AB & Co Realtors, Inc.
Property MLS #MDBA2118836 from BrightMLS
The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.