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www.bayviewrealtybaltimore.com 
office 7200 Bay Front Rd., Baltimore , MD 21219 
p |443.963.8530 
Broker Tanya K. Hall 
direct |410.812.7282 e | Этот адрес электронной почты защищён от спам-ботов. У вас должен быть включен JavaScript для просмотра.

FEASIBILITY EVALUATION

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Midtown-Belvedere CALVERT STREET, BALTIMORE MD 2013

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PROPERTY LOCATION | Baltimore City Cultural Corridor, formed by major City’s transportation arteries: North Charles , Saint Paul and Calvert Streets.

City Districts: Midtown Belvedere and Mount Vernon.

This Baltimore area can offer not only tourist points of interest or Zagat rated restaurants but famous and the nationwide known school names as well (see page 3 for the School’s locations), making this location exceptionally attractive for young professionals, and much more desirable than Baltimore up-scale neighborhoods as Canton, Patterson Park, Federal Hill or Locust Point.

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 The Property is located just few blocks away from the Peabody Institute of John Hopkins University, University of Baltimore, and University of Baltimore School of Law and in walkable distance from Maryland Institute College-Art.

John Hopkins University Shuttle Route that connects JHU campuses: Homewood, Peabody, Harbor east and East Baltimore is one block away.

Each school has 2-3 years Graduate Programs and constantly have needs for accommodation of the out-of-state and international students.

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PROPERTY DATA

Address: Calvert Street, Baltimore MD 21202

Primary Structure Built: 1889

Owner: BALTIMORE PHILATELIC SOCIETY INC., OWNED FROM 1920

Property Land Area:                                 1,572 sq.ft., 18’-6” x 85’-0”

Enclosed Building Area:                           4,180 sq. ft. – 4 story,

Full Basement is approx. additional      1,177 sq. ft.

For Feasibility Study’s purpose Existing Square footage has been divided proportionally and

Assumed to suit Existing building configuration:

1st, 2nd, and 3rd floors as equal, approximately 1177 sq. ft. each

4th floor – 648 sq. ft.

PROPOSED MASTER PLAN OUTLINE

1st Floor

Apartment #1 – 750 sq. ft. – 2 levels include: 1 BedRm, Bath, Kitchen and Living Area

Studio #2         -  470 sq. ft.

2nd Floor

Apartment #3 -  853 sq. ft. – 2 BedRms, 1 Bath, Kitchen and Living Area with access to Deck

3rd Floor

Studio #5         - 560 sq. ft. with access to Deck

3rd and 4th Floors

Apartment #4 -  917 sq. ft. – 2 levels include: 2 BedRms, 1 Full Bath, Pwd Rm, Kitchen and

Living Area with roof top Patio on 4th Floor

Basement:

Laundry Rm, Storage, Trash Rm and Gym

PROPOSED MONTHLY RENT

BVRE preliminary estimate has been based on the Market value for apartments located in this particular area and approximately at same sq. footage. Such Apartments have renovation oriented on up-scale modern life requirements and have been done with professional design services to enhance their value.

Apartment #1 - $1,600.00

Studio #2         -  $1000.00

Apartment #3 -  $1,600.00

Apartment #4 -  $2,000.00

Studio #5         -  $1,200.00

TOTAL:                $7,400.00

Property TAX DATA:

Last Assessment – 07.01.2013, Land and Improvements total - $269,000 – $6,000.00 Property TAX

PRELIMINARY INVESTMENT DATA:

Property Listed Price -$350,000.00, negotiable (assumed purchase price - $270,000.00)

Renovation, Basement Area included         - $250,000.00  (with BVRE Construction and Design

Services only)

BVRE Design Service - $20,000.00    Consists of 8% from Construction Cost and includes but not limited to:

  1. 1. Existing Condition documentation
  2. 2. Schematic design layout and Preliminary Set of Drawings (Permit Set)
  3. 3. Permit process, process of changing the Use of Occupancy, not included
  4. 4. Process of negotiation with Historical and Architectural Division if applicable, not included
  5. 5. Construction administration

Investment TOTAL:   $540,000.00

Investment Return DATA:

Income:

Annual Rent                    $88,800.00

Expenses:

Property TAX                   -$6,000.00

Property Management -$8,880.00 | 10% of Annual RENT

Repair expenses             -$8,880.00 |10% of Annual RENT, variable

TOTAL:                              -$23,600

Net income: $88,800- $23,600 =$65,200

Rate of return:  $65,200 ( net income)

-----------------------------------------------------   = 12 %  ( rate of return)

$540,000 ( property value to investor)

Approx. 8 years Investment Return

1st year- $65,200

2nd year- $65,200

3rd year- $65,200

4th year- $65,200

5th year- $65,200

6th year-  $65,200

7th year - $65,200

8TH year- $65,200

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Total : $521,600

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