October 6, 2016 by Meighan Sweeney
The housing market can be a fickle thing, and while many people look to roll the dice and get lucky in the house flipping game few are able to turn a profit. When working with Baltimore investors, or new home buyers looking to cash in on resale down the road, I always say Baltimore’s Highlandtown neighborhood is the place to buy now. Highlandtown, zip code 21224, boarders the booming neighborhood of Canton. Canton has it all: nightlife, shopping, restaurants, water views, and the price tag shows it. Curious how far your dollar goes in the Canton area? You might be surpized how little you get!
Lately I’ve been working with some smart millennials, on a first time home buyers budget. Many have decided to look slightly south to Highlandtown area. Highlandtown has long been home to Baltimore staples like Di Pasquales, The Creative Alliance Theater, and the always charming Laughing Pint. Highlandtown Main Street has a strong community force aiding in the area’s popularity.
Additionally, in the last year we have seen the sale and demolition of the iconic Haussners building on Eastern Avenue which is to be rebuilt into luxury apartments, a Mount Pleasant church is set to become a seventy unit condominium building, and smart contractors are buying homes in need of rehab. Hip new restaurants like “Snake Hill Tavern” and “Gnocco” are popping up on Highlandtown corners.
The numbers don’t lie. New rehabs are listing in the low 200’s and closing at or slightly under ask. 3 bedroom 1 baths in need of renovations are moving much higher than they were only five years ago but a savvy Baltimore investors can buy in the 50-70K range and turn a heathy profit quickly. Curious what’s out there? Email me, Meighan Sweeney, for a list of the great Highlandtown investments