Sit back & collect the cash-flow

Belair Edison Area of Baltimore City
Cash Flowing Section-8 Rental

2846 Mayfield Ave
Baltimore MD 21213

Price: $79,000

Rented: $1321 a month Section-8

Property has been fully renovated. (See below for specifics.)
This property will provide the new owner with many, many years of maintenance-free ownership.
This property is located on a primarily homeowner block in Belair Edison.
Property passed MDE Full-Risk Lead Reduction in 4/2010 and has it's certificate.

Property is a 2 story, 3 bedroom 1 bath property with an unfinished basement.

The tenant that currently resides in this Property has been there since April of 2010. Since that time, several followup visits have been made to the property for inspection. The tenant maintains and cares well for the property.

Tenant is part of the Baltimore Housing Choice Voucher Program (formerly called Section 8).
Total rent for this property is $1,321 per month.
Section 8 pays $870 of this amount. The tenant's portion is $451.
Tenant has NEVER missed a payment for her portion of the rent.

Tenant pays their own gas and electric bill, per the lease.
There is no "public" service meter for the landlord to pay!

This property is a CASH COW.
We are looking for a serious buyer.
We require a proof of funds or financing-committment letter to show the property.
This is a very reasonable price for the property considering the potential here.

This property is truly TURNKEY. The sometimes arduous process of finding a GOOD and STABLE tenant has already been done. Best of all, she's Section-8. It doesn't get any better than direct-deposited rents guaranteed by the government!

Just passed Section 8 Annual Inspection in May 2011.

Schedule of renovations:

Exterior:
Buyer will be provided a Roof Certification from a Licensed, Bonded and Insured Roofing Company. This Certification will include a two year guarantee/warranty.
Gutters and downspouts installed 2/2010.
All painted exterior areas stripped/repainted 2/2010.
Front steps repointed. 2/2010.
Steel entry doors installed 2/2010.

Electrical:
100 AMP Service
Copper wiring
All outlet receptacles/switches replaced 8/2010.
All new light fixtures installed 2/2010.
GFI's in bathroom/kitchen/laundry areas.

Plumbing:
Copper supply lines.
Copper water lines throughout property.
PVC drain lines leading to cast-iron main sewer line.

Mechanical/HVAC:
Burnham (Top-of-the-Line) Boiler. Approximately 4 years old. (Boilers have life expectancy of several decades if property maintained) Unit has been serviced/cleaned, found to be functioning perfectly.
Thermostat. Installed 2/2010. (Brand new)
Brand new electric hot water heater - Installed 2/2010

Kitchen:
Kitchen was completely demolished and rebuilt.
Kitchen has brand new: cabinets, countertops, range hood, breakfast nook, ceramic tile flooring, sink, faucets, supply lines, etc.

Bathrooms:
Bathroom was renovated and includes brand new: toilets, ceramic tile flooring, vanity, mirror, faucets, etc.

Windows:
Property has vinyl replacement windows throughout.
New window sills throughout house. (No risk of lead paint dust)

Appliances:
Appliances are all new.
30" GE natural gas stove - 2 years old
30" GE Refrigerator - 2 years old

Basment:
Basement is completely dry.
Full waterproofing system was installed in property in 8/2010. (French drain/waterproofing panels/sump pump) Basement has 15 year warranty on any moisture issues that arise.

Other:
Any existing plaster walls or drywall were professionally skimcoated in 2/2010.
All interior and exterior doors and hardware were installed 2/2010.
Property was painted throughout in 2/2009. Semi-gloss in living areas. Semi-gloss in kitchen/bathrooms. Two-tone.
Professionally refinished hardwood floors on first floor of property.
All new trim work throughout property.
Carpet/padding is brand new throughout property.
New smoke detectors throughout property.
New CO (Carbon Monoxide) detectors installed on each floor of the property.
Rear of Property has parking pad with alley access