There are so many great neighborhoods in Baltimore and even the surrounding areas that are filled with beautiful old homes. Although there are over a dozen neighborhoods that I love throughout the city, I'm going to narrow this list down to the top 4 neighborhoods that I like to invest in for my flips. And although there is a ton of competition out there right now for undervalued properties, I don't mind sharing my thoughts and ideas on this topic. I think there is plenty to go around for everyone!
If you are interested in rehabbing homes, a great tip is to start off looking in a small area, also known as a 'farm area'. This allows you to really get to know the neighborhoods, what properties are worth, and what they will eventually sell for once they are fixed up, also known as ARV - After Repair Value. I think it's also much easier to choose a farm area that is geographically close to your home. If you're going to be running out to check on your rehab projects several times a week, you can keep a better handle on them if they're somewhat close by. A great resource for learning your neighborhoods and all that they have to offer is Live Baltimore. I head to their website any time I have a question about a city neighborhood. I also got myself one of their neighborhood maps for my office. So helpful.
Because I live about 20 minutes outside of the city in Harford County, I mostly focus on the north east side of the city. The light pink area in the upper right corner is where all of my favorite neighborhoods for rehabbing properties are currently, except for my one outlier, which you'll see in the list below. And even though I'm listing these as my favorite places to invest, I would happily live in any one of these neighborhoods.
1. Beverly Hills - This place is tops on my list for many reasons. First of all, the name. Second, it's an historical district that is really well maintained by the homeowners, but there are still a lot of diamonds in the rough in this tight knit community.
2. Hamilton/Lauraville - Quiet tree-lined streets, with a mix of bungalows, four squares and farmhouse style homes create a suburban feeling within the city. Hamilton and Lauraville have a great walkability factor. There are some notable local businesses in this part of the city - Zeke's Coffee, Red Canoe Cafe & Book Shop, The Green Onion, a weekly farmer's market, and more.
3. Ednor Gardens-Lakeside - I adore this beautiful little neighborhood. It's a good mix of semi-detached and single family homes that are mostly owner-occupied, but there are still many distressed homes that are in need of some love. Just steps from Lake Montebello, which has a sizable jogging path and plenty of green space outdoor activities. Residents of this neighborhood are also within walking distance to the infamous Waverly Farmer's Market.
4. Havre de Grace - This is my outlier, the only neighborhood on this list that is not in Baltimore City. This location is closest to my heart. I grew up a town away in Aberdeen and spent many summers on my parents' boat that they docked at Tydings Park in Havre de Grace. Havre de Grace is a hidden gem for people who aren't familiar with it. It's a waterfront town with total walkability to lots of local shops, restaurants, parks, and even a boardwalk. The streets of this town are filled with gorgeous historic homes and there's always something going on - First Fridays, a week long Fourth of July Celebration, parades, paddle boarding and even yoga in the park. There aren't a ton of distressed properties in this area, but they can still be found. Below is a good example of the charming sights you'll find in this town...one of the many bed and breakfasts, The Vandiver Inn.