6-Bed/4.5-Bath Co-Living Monster in Reservoir Hill – Brand-New Gut Rehab – 11.98% Cap Rate – Priced for Quick Close
The Deal:
Massive, 4-level historic Federal rowhome at 813 Whitelock St completely gut-renovated from top to bottom and structurally optimized specifically for a high-yield rent-by-the-room / co-living strategy. The property is fully completed, pristine, and ready for an investor looking for a clean, rapid transaction to immediately deploy capital into a heavy cash-flowing asset.
The Financials (Pro-Forma):
Target Investor Price: $435,000 (Firmly discounted below the $464,900 retail MLS listing)
Projected Gross Monthly Rent: $6,250/mo (Detailed room metrics below)
Gross Annual Income: $75,000
Estimated Annual Operating Expenses: $22,900 (Includes high-coverage $600/mo utility buffer, vacancy, and common area cleaning)
Net Operating Income (NOI): $52,100
Cap Rate: 11.98%
The Gross Rent Rule: 1.44% (Vastly outperforming the traditional 1% real estate benchmark)
The Layout Edge (Designed for Tenant Retention):
Room 1 (Master Suite): Private En-Suite Full Bath — Projected $1,250/mo
Rooms 3 & 4: Shared Full Bath layout (Shared strictly between only 2 rooms) — Projected $1,050/mo each
Rooms 5 & 6: Shared Full Bath layout (Shared strictly between only 2 rooms) — Projected $950/mo each
Room 2 (Finished Basement Suite): Private 1/2 Bath (Utilizes the main level full bath for showers) — Projected $1,000/mo
Note on Layout: Having 4 of the upper rooms on semi-private bath systems drastically reduces roommate friction and slashes vacancy rates compared to traditional rooming houses where 6 people share one hallway bath.
Zero Deferred Maintenance (Insulated CapEx):
Brand-new Dual-Zone HVAC systems (perfect climate control on all 4 levels).
Brand-new roof, updated plumbing, new water heater, and completely upgraded 200+ Amp electrical.
High-end finishes: Premium quartz countertops, custom 42” cabinetry, brand-new stainless steel appliances, and luxury hybrid flooring built to withstand high traffic.
Fully finished lower level/basement providing an essential second common/rec area.
Massive brand-new rear deck leading to a rare off-street parking pad (easy monetization add-on fee).
Transaction Details & Strict Quick-Close Terms:
As-Is & Vacant: Property conveys 100% vacant and unfurnished in strict AS-IS condition.
No Commissions: This off-market price reflects $0 in buyer's agent fees. Buyers utilizing an agent must compensate them out of pocket.
Buyer Covers Closing Costs: Buyer to pay 100% of all settlement fees, including all state/city transfer taxes and recordation fees.
The Timeline: Seeking a clean, non-contingent cash, hard money, or strong DSCR offer with a 10-to-14 day settlement.
Located in a highly desirable pocket of historic Reservoir Hill right next to German Park. Exceptional transit connectivity and a built-in tenant pool of graduate students and medical professionals from MICA, Johns Hopkins Homewood, and nearby university hospital systems.
Serious buyers: DM with Proof of Funds / Lender Pre-Approval to schedule a walkthrough or request the full pro-forma sheet.
