2847 W Mulberry St, Baltimore, MD 21223

2847 W Mulberry St, Baltimore, MD 21223

Cleanest $48K House You’ll See This Month — Landlord Cash Flow Play

This is a 3-bedroom brick row home priced at $48,790 — and it is one of the cleanest houses you’ll find under $50K in Baltimore City.

The previous owner lived here and took care of it for 30+ years. You can tell the minute you walk in. This is not the usual beat-up vacant with code violations and surprises behind every wall. This is the kind of house where the neighbors on the block all know each other and the property was maintained like someone actually cared about it — because someone did.

For a smart landlord, this is exactly the kind of property you want.

WHY THIS DEAL MAKES SENSE

• Owner-occupied for 30+ years. Maintained, clean, and cared for. You are not inheriting a decade of deferred maintenance.
• Strong block. This is the kind of street where neighbors know each other. That kind of stability matters for a rental hold — it shows up in tenant quality and length of stay.
• Cash flow math works. Any rehabbed 3-bed / 1-bath in this pocket should rent for $1,300+ per month. At an all-in under $90K, that is the kind of ratio that lets a smart landlord hold this for years.
• Keep it simple, keep it profitable. This is the old-school Baltimore landlord playbook: basic clean kitchen, basic clean bath, radiator heat (no central AC), keep the rent fair, keep the tenant happy, keep the headaches low. Low turnover is where landlords actually make money.

YOU SHOULD KNOW

The most successful “Old Timer” Baltimore landlords did not over-improve their rentals. They bought clean houses, rehabbed them with durable finishes, kept the rents reasonable, and held tenants for 5, 10, 15 years at a stretch.

That is exactly what this property is built for. You are not adding central air. You are not putting in quartz countertops. You are not doing any of the stuff that looks good on Instagram but eats into your spread and your time. You are running the boiler and radiators that already work, keeping the finishes clean and durable, and letting a good tenant stay for a long time.

At $48,790, with $1,300+ monthly rent on the back end, the math takes care of itself.

PROPERTY HIGHLIGHTS

• 3 Bedrooms / 1 Bathroom
• 1,092 sqft above grade + 546 sqft basement
• 2-Story Brick Row Home
• Owner-occupied and maintained for 30+ years
• Radiator heat (existing boiler — no central AC needed)
• R-8 Zoning
• Year Built: 1920
• Lot: 16 x 70

THE NUMBERS THAT MATTER

• ARV: $135,000

• Price: $48,900 OBO

• Projected Rent: $1,300+/mo once rehabbed

   

  Submit Offer Here 

   

LANDLORD MATH — BUY & HOLD SCENARIO

That is before refinancing. Run this as a BRRRR, pull most of your capital back out at the $135K appraised value, and the cash-on-cash return gets even better. Leave it unlevered and you’ve got a clean hold producing real cash flow from day one.

The landlords who built portfolios in Baltimore did it with exactly these kinds of houses. Not fancy. Profitable.

Submit Offer Here