Throughout most of the year, locals flock to Patterson Park for many different reasons. Baltimore Sports & Social Club (BSSC) keeps the fields busy with young professionals. Friends of Patterson Park host free concerts throughout the summer months. It’s become part of the route for the Baltimore Marathon, several road bike races, and the popular Kinetic Sculpture race. There’s a pond, a pool, tennis courts, an ice skating rink, a playground, a dog park and acres and acres of park grounds. Below is a picture of last year’s Halloween parade on the park and a picture of neighbors on the park for a free concert.
This park is 2816 E Baltimore Street‘s front yard! 2816 E Baltimore was is a full gut renovation. It stands 4 levels high w/ 2,470 finished sq ft, a parking pad, 2 tier roof deck, and 9 years left on the CHAP tax credit. With 5 large bedrooms, 4.5 baths, a wet bar, and a gourmet kitchen this house is great for entertaining but can also fit your growing family.
Above I mentioned that this house also has a CHAP tax credit. You may have heard about these credits but do you know how they work?
2816 E Baltimore St was purchased in the Spring of 2015. Before anything is done to the property, the appraiser from the CHAP office comes to put a value on the property. The pre-improvement appraisal amount for this property came in at $180,000.00. After the renovation was completed the CHAP appraiser comes back for the Post-improvement appraisal. The house turned out beautiful, see the pictures below. The post-improvement appraisal amount came in at $490,000.00.
CHAP tax credits: Here is the math breakdown:
CHAP appraisal before renovation is 180k
CHAP appraisal after renovation is 490k.
The “locked in” credit is 310k x 2.32 = $7,192.00/year in taxes ($599.33/month)
So let’s say the state’s assessment after renovation is 500k.
Normal tax bill for the city portion is 500k x 2.32 = $11,600year ($966.67/month)
CHAP credit is $7,192/year
TOTAL AMOUNT OF CITY TAX $11,600 – $7,192 = $4,408.00 ($367.34/month)
Buyer will save about $367.34 a month, over 4k a year!
***These numbers are good estimates but not exact.
When purchasing a CHAP tax credit house it is important to get the CHAP appraised amounts so that you can calculate the taxes that the buyer will be paying. The above example should help you calculate but in the event you still have questions, please contact Suzie Coronel at suzie@CrabbyHomes.com or the cell number in the banner below.
Situated perfectly among Fells Point, Canton, and Patterson Park; Butcher’s Hill is one of Baltimore City’s most charming neighborhoods. The streets are filled with a good mix of Hopkins students and medical professionals, young families, and singles alike. Seems most homes have a green thumb since most have lovely flower boxes lining the facades through the seasons. A tight knit community association exists that organize street and alley clean ups, flea markets, and block parties. In my 12+ years of selling in this area, most buyers in Butcher’s Hill don’t sway from this area.
315 S Washington Street, Baltimore, MD 21231 is a prime example of the type of home this area has to offer. A local Baltimore investor, Mason Properties, purchased this dilapidated row home. This well-known investor will not only bring life to this home, he’ll provide a CHAP tax credit property for a future home buyer. This home will have all new electric, plumbing, roof, framing, baths, kitchen, etc.
This blog will take you thru the different renovation phases of 315 S Washington Street. The finished home will have all of the following:
315 S Washington Street
Master suite: complete with private bath w/ double vanity, deck access, and huge walk-in closet
2nd level: 2 additional bedrooms, a shared full bath, linen closet, and laundry room
1st level: Living room, gourmet kitchen with a separate dining room
Roof deck to complete the 2 tiered deck
****Updated October 2016
Framming and systems are going in.
**** Update November 2016
This house is shaping up! The builder used marble tile in both full baths and dark wood floors throughout the entire home. It’s beautifully done. The roof deck is getting built now. Soon the kitchen will be installed. Check out these new photos.
315 S Washington Street
3 bedrooms w/ master suite and sitting room
2 full baths
granite and stainless in the kitchen
I will be updating this blog as the renovation progresses. If’ you’d like to set up a tour, contact Suzie Coronel.
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, click here.
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? Contact me!
Are you seeing a lot of developement along Eastern Ave in Highlandtown? We all are seeing it! I had the opportunity to meet with Amanda Smit-Peters a few weeks back. She’s a breath of fresh air for the commuity. Her excitement has proven to be contagious. I set up a meeting to discuss one of my commercial store fronts for sale at 3711 Eastern Ave, Baltimore MD 21224. The property sits in the middle of the high traffic Eastern Ave. I am getting a lot of calls from investors out of the DC area. Most aren’t familiar with the on-going development on Eastern Ave. Meeting with Amanda was much needed.
Since 3711 Eastern Ave is a store front with commercial space on the ground level and an apartment on the upper level, I wanted to be sure I had a good understanding of the popular facade grant program that Highlandtown Main Street assists in. Amanda was able to get me a very informative PDF of the Facade Grant Program. The process seems fairly straight forward and Highlandtown Main Street is eagar to help. But here is what I find most important:.
Key points of the Facade Grant Program :
1. It’s for the exterior facade.
2. It offers UP TO $3000 of matching money and free design help! (ex. If the total cost of the project is $5000, you will be reimbursed $2500)
3. Like any grant program: YOU MUST APPLY AND BE APPROVED BEFORE starting the project.
4. You will need 2 estimates for the work you are wanting done. (**see below for some suggested contractors I’ve found)
5. Once approved, you have 30 days to start the project.
6. Keep all documentation and receipts.
3711 Eastern Ave is for sale, listed at $149,000.00.
Join in the redevelopment of Highlandtown. Own a storefront on the road most traveled by. This Eastern Ave jem has one of the best showcase windows on the street. Come to the immediate area and witness the new development surrounding it.
The commercial space is updated with exposed brick, wood floors, tin ceiling, a full bathroom, and CAC. The property has 1br apartment upstairs featuring a full bath, 1 bedroom, a living area, full kitchen, and a stacked W/D. Building offers 2-3 car parking in back. Building is correctly zoned B 2-3.
Below are a few pictures of 3711 Eastern Ave.
Please contact me if you need more information or would like to schedule a showing.
**Below is some helpful info on contractors that are familiar with the process and construction:
-Fastsigns in Dundalk (ask for Jim or Angel)
–Signarama in Fells Point
For the other work needing to be done, it’s recommend that you contact your Main Street office for assistance.
Highlandtown Main Street will also help on a sign/awning design, just call their office!
The MOST IMPORTANT part of this process is APPLY & GET APPROVED with the Main Street office BEFORE BEGINNING ANY WORK! (or you may not be eligible for a 50% reimbursement)
If you have other questions, contact me at 410-336-2569 or suzie@CrabbyHomes.com
Let me show you what great things you can do with 3711 Eastern Ave!
The Orioles’ Opening Day kicks this city into some serious spring fever! The Yankees (Booooo) are in town and snow plows are put away. Lineups of all the summer festivals begin to fill your Facebook feed. The Baltimore real estate market is at the year’s prime and open House signs fill the streets. Charm City has a heartbeat again!
Baltimore is the center of so many attractions and for a solid 9 months there are a ton of great events going on.
If you were to buy in these popular neighborhoods, (Fells Point, Patterson Park, Canton, Butchers Hill, Brewers Hill, Federal Hill, Locust Point, etc.) most of the area attractions would be walkable for you. Thanks to Uber, if you can make the walk, they are still easily accessible. Here are just a few events that make Charm City so damn charming:
- 4/6 – 10/4 – Orioles’ Magic at Camden Yards
- 4/18-19 – Privateer Festival
- 4/25 – Charm City Bluegrass Festival
- 4/26 – Federal Hill Spring Block Party
- 4/1-2 – Flower Mart
- 5/2 – Kinetic Sculpture Race
- 5/2 – 11/22 – Fells Point Farmer’s Market – Every Saturday from 7:30am-12:30pm
- 5/2 – Dare Theory
- 5/6 – 10 – Maryland Film Festival
- 5/7 – WTMD First Thursday’s Concerts in the Park (May 7, June 4, July 2, Aug 6, Sept 3)
- 5/16 – Preakness
- 5/17 – BikeJam
- 5/21 – Patterson Park Wine Tasting
- 5/21 – 24 – MD Death Fest
- 5/23-24 – Brew at the Zoo
- 6/2 – Believe in Tomorrow Cash Bash
- 6/6 – Food Truck Festival and Competition
- 6/7 – Federal Hill Jazz & Blues Festival
- 6/13-14 – HonFest
- 6/20 – Baltimore Wine Fest
- 6/20-21 – African American Festival
- 6/27-28 – Latino Festival
- 7/3 – 8/28 – Little Italy Open Air Film Fest (Friday nights in July & August)
- 7/4 – 4th of July Celebration and Fireworks @ Inner harbor
- 7/17-19 – Artscape
- 7/25 – 26 – Baltimore Pride
- 8/5 – Hot August Blues Festival
- 8/7-9 – BronyCon
- 8/28 – 9/7 – Maryland State Fair
- 8/29 – 10/25 – Maryland Renaissance Festival (out in Crownsville but def worth a trip)
- 9/19 – Baltimore Seafood Festival
- 9/25 – Maritime Magic
- 9/25-27 – Baltimore Comic-Con
- 10/2-4 – Fells Point Fun Festival
- 10/10-11 – Pigtown Festival
- 10/14 – Kickoff to the Windjammer Race Event (Tall Ship Parade)
- 10/17 – Baltimore Running Festival
Hope you make it to your favorite events but definiately check out some new ones! Safe travels.