2305 Herkimer Street

Description

11-Single Family Portfolio: 9 Lead-Free Homes in BaltimoreThis 11-unit Baltimore portfolio generates $176,252 annually, with a pro forma of $219,840 at market rents. Year 1 NOI is $131,904, growing to $152,822 by Year 5. Investors benefit from a 9.22% cap rate, rising to 10.69% by Year 5, offering strong cash flow and value-add potential.The portfolio features 9 out of 11 lead-free, two- and three-bedroom homes with 1"2 bathrooms, hardwood floors, granite countertops, updated cabinetry, and appliances. Select units (1219 Glyndon Ave, 1115 Carroll St) include in-unit washers/dryers, and 1202 Sargeant St has central A/C. Many offer basements for storage or expansion.Located in ZIP codes 21223, 21230, 21216, and 21218 (serving 128,000+ residents), the properties are near Johns Hopkins University (30,000+ students), University of Maryland, Baltimore (6,900 students, 8,000+ staff), and major employers like Johns Hopkins Hospital (30,000+ employees). Transit options include MARC Train, Metro SubwayLink, and Light RailLink for connectivity across Baltimore and to Washington, D.C.Addresses Part of Portfolio1219 Glyndon Ave, Baltimore MD 212231238 Sargeant St, Baltimore MD 212231321 Glyndon Ave, Baltimore MD 212231407 W Ostend St, Baltimore MD 212231415 W Ostend St, Baltimore MD 212232305 Herkimer St, Baltimore MD 212302109 N Longwood St, Baltimore MD 212163225 Kenyon Ave, Baltimore MD 21213442 E Lorraine Ave, Baltimore MD 212181115 Carroll St, Baltimore MD 21230