Sub 2 this: Less Than $600 Mortgage In Dundalk

Property Description

406 Chestnut Ct, Baltimore, MD 21222

Take Over a 5% Mortgage — No New Loan, No Bank, No Origination

This is a subject-to deal. You take title and step into the seller’s existing mortgage at 5% fixed. No new financing, no appraisal, no DSCR underwriting, no points.

Brick rowhome in Turners Manor. Sold as-is. The seller is the estate’s authorized representative and needs out before a mid-July move — clean file, motivated, ready to close.

WHY THIS DEAL MAKES SENSE

💰 5% fixed rate already in place — well below today’s ~7.5–8% DSCR pricing on a loan this size.

Zero financing costs. No origination, no points, no appraisal, no lender title policy. That’s several thousand you don’t spend to get in.

Title is clean and fully documented — 70-year chain verified, no probate gaps, owner’s policy being issued.

Low payment, low entry. You’re stepping over the whole bank process and into a performing rate.

YOU SHOULD KNOW

The loan is current-able at closing — about $4,838 brings it fully current, paid from proceeds. Balance is $99,262 at 5%. P&I is $537.44/month. Taxes ($730/yr) and insurance are paid directly by you, so plan your all-in carry around $690–720/month.

One honest flag: the underlying note carries a balloon maturing December 2036. You ride the 5% for roughly ten years, then refinance or exit. That’s a long runway at a below-market rate — but build your exit around it, don’t ignore it.

This is structure and upside, not a rehab gamble. The value here is the financing, not a flip spread.

PROPERTY HIGHLIGHTS

• 2-story brick rowhome, 812 sqft, 1 bath
• Turners Manor / Dundalk, Baltimore County
• Public water and sewer, built 1944
• Sold as-is
• No prepayment penalty — clean to refinance or sell whenever you’re ready

THE NUMBERS THAT MATTER

• Existing loan balance: $99,262 at 5% fixed
• P&I payment: $537.44/mo (taxes + insurance paid directly; ~$690–720 all-in)
• Reinstatement at closing: ~$4,838 (from proceeds)
• Buy it now: $115,400
• ARV: [____]
• Projected rent: [____]

Walk it, run your exit, submit. Spreads go to the decisive.

Submit Offer Here

VIP 24-HOUR EARLY ACCESS

First look by text. Lockbox access for VIP buyers. 48-hour offer window before this goes to the full list. If you’re holding in Dundalk and want a performing 5% note instead of an 8% one, this is the rare way to get it.