2814 N CALVERT ST
Baltimore, MD 21218

This brick townhome houses two updated apartments, and a third apartment that could be easily renovated to increase value. With upgraded plumbing and electrical systems, and separately metered utilities, 2814 North Calvert provides great bones and a stable start for an investor or owner-occupant buyer. Located just three blocks from Johns Hopkins University Homewood Campus, property values and potential tenant pool are anchored by this world-renowned institution.The first floor and second floor apartments are upgraded: their kitchens have granite countertops, stainless steel sinks with garbage disposals, gas ranges, and a mix of wood and laminate cabinets. Bathrooms feature stylish sinks, shower stalls, and ceramic tile floors. The majority of windows have been upgraded to double-pane vinyl replacement windows. Refurbished hardwood floors run through these apartments.The third floor apartment houses a long-term tenant. A new owner could keep the rent low and enjoy the steady income, or upgrade this apartment to increase property value and future rents.Tenants can utilize the free clothes washer & dryer in the basement. One-car parking is available in the rear. The first floor tenant enjoys a large rear deck.Each apartment is separately metered for gas and electric. The owner bills the tenants back for public service gas, electric, and water/sewer, maximizing cash flow for the landlord.2814 North Calvert Street has 400-amp electric service, with 100 amps to each apartment. The water main is copper. Observable supply lines are copper and c-pvc; drain lines are a mix of pvc and steel. Both upper and lower roof are built-up. The apartments are served by one central gas-fired 50 gallon State Select water heater. Heat is provided steam radiators, and a gas-fired Burnham boiler.Tenants can walk to the Charles Village Shopping District, Johns Hopkins University Homewood Campus and Wyman Park. Just one block south is the Hopkins Shuttle Stop, providing an easy commute to Hopkins’ other Baltimore campuses. 2814 North Calvert Street earns the designation “Walker’s Paradise” with a WalkScore of 92, a TransitScore of 61, and a BikeScore of 87. This block is patrolled by Hopkins campus security, and is served by the Charles Village Benefits District. This nonprofit organization helps keep the district clean, organizes security patrols, and hosts community events.Investment Summary:$445,000$148,333 Per Unit$161 Per Sq. Ft.11.6 Times Actual Rent (GRM)9.7 Times Market Rent (GRM)7.54% Cap Rate8.1% Projected Cash-on-Cash Return