2704 N Calvert St,BALTIMORE, MD 21218
BALTIMORE, MD 21218
Description
Fully Leased: All four apartments are occupied, providing rental income from day one while a buyer plans future rent increases and improvements. Multiple Paths to Increased Income: Below-market rents, one parking space and potential tenant utility reimbursements provide several ways to increase income without completing a full renovation at once. Long-Term Renovation Potential: Apartments can be renovated to the studs in phases, with individual mechanical systems and upgraded finishes supporting higher rents and long-term demand from the surrounding Johns Hopkins community. 2704 North Calvert Street offers four fully leased one-bedroom apartments in varying condition, providing existing income with improvements that can be completed over time. Two apartments have updated kitchens with Shaker-style wood cabinets and newer laminate countertops. The remaining kitchens have a mix of wood and metal cabinetry. Kitchens include 20-inch or 30-inch gas ranges and stainless-steel or porcelain sinks. Bathrooms have wall-mounted sinks or modern vanities, steel or cast-iron tubs, and ceramic tile or fiberglass surrounds. Apartments retain primarily plaster walls and ceilings with a mix of hardwood and vinyl flooring. The building has a central gas-fired boiler with steam radiator heat and a central 40-gallon gas-fired Rheem water heater installed in 2021. There are four electric meters and five gas meters. Tenants pay their in-unit gas and electric. The landlord pays for heat, hot water and water/sewer, creating an opportunity to implement utility bill-backs. A rear wood fire escape is shared with 2702 North Calvert Street. Owner-Occupant Financing Example: If Apartment 1 is made available for purchaser occupancy, a 3.5% down payment and $414,950 loan at 6.50% for 30 years produces an estimated monthly principal, interest, taxes, insurance and mortgage insurance payment of $3,600. Projected rents from the remaining three apartments and parking total $3,425 per month, leaving an estimated monthly housing cost of approximately $175 before utilities, repairs and maintenance. The property also passes the FHA self-sufficiency test. Located in Charles Village near Johns Hopkins University, neighborhood shopping, dining and public transportation, the property offers existing income and multiple paths to long-term value creation through market rent alignment, utility bill-backs and phased renovations.
Details
| MLS # | MDBA2234060 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active-bright |
| Year | 1900 |
| Days On Site | 27 |
| Listing Provided By | Ben Frederick Realty, Inc. | Will A Cannon III |
Features
| SQ Feet | 2,774 |
|---|---|
| Units | 4 |
| Zoning | R-8 |
| Acreage | 0.05 |
Interior
| Cooling | Window Unit(s) |
|---|---|
| Heating Yes / No | Yes |
| Heating | Radiator |
Exterior
| Construction Materials | Brick |
|---|---|
| Foundation Details | Brick/Mortar, Stone |
Parking
| Garage Yes / No | No |
|---|
Taxes
| Tax Annual Amount | 5545 |
|---|
Area Information
| State | MD |
|---|---|
| County | BALTIMORE CITY MD |
| City | BALTIMORE |
| Zip Code | 21218 |
| Area | BALTIMORE CITY MD |
| Community Name | CHARLES VILLAGE |
| School District | BALTIMORE CITY PUBLIC SCHOOLS |
| Listing VS Median (in CHARLES VILLAGE) | |
Price: $430,000 low | high Med: $299,000 sqft: 2,774 low | high Med: 1,496 $ / sqft: $155 low | high Med: $200 On site: 27 low | high Med: 39 | |
Market Activity 21218
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Learn More About This Property
| State | MD |
|---|---|
| County | BALTIMORE CITY MD |
| City | BALTIMORE |
| Zip Code | 21218 |
| Area | BALTIMORE CITY MD |
| Community Name | CHARLES VILLAGE |
| School District | BALTIMORE CITY PUBLIC SCHOOLS |
| Listing VS Median (in CHARLES VILLAGE) | |
Price: $430,000 low | high Med: $299,000 sqft: 2,774 low | high Med: 1,496 $ / sqft: $155 low | high Med: $200 On site: 27 low | high Med: 39 | |
