Asset Based Lending recently funded a DSCR rental loan for a first-time borrower to purchase a townhome in Baltimore Maryland. The property has a tenant in place paying $1,700 in monthly rent which is slightly above the market rent for Baltimore, and in line with the national average. As of June 2023, Baltimore City has 26% of rental properties priced between $1,501 – $2,000, and only 5% of the rental market is single-family rentals making this property a rare find in this city. Baltimore has a strong rental market with 51% of residents rent versus 49% owning their homes. With a DSCR of 1.38 this is a cashflow positive property generating passive income for this rental property investor. For real estate investors, Baltimore City Maryland offers great opportunities as its proximity to major cities like Washington, D.C means residents can easily commute to and from.
