What's the rental market like in Calvert & St Mary's

dmpitta1987

dmpitta1987

New Member
I'm new to Calvert, recently bought a townhouse in Ches beach. My wife and I are looking to buy a rental property or two this year but unsure of what the market is like here. There seem to be FSBOs and fixer-uppers that pop up occasionally in Hollywood, California, Leonardtown and Lusby. Trying to get a gauge on what one could realistically expect to make on a 3 bed 1.5+ bath, 1,200+ sq ft single-family house.

My assumption was that this is more of a buyer's market than a renter's (especially when compared to Montgomery or PG county) but from what I've been told, PAX naval base brings a lot of renters to the area and so north St Mary's is a good investment. Any opinions would be greatly appreciated.
 
vraiblonde

vraiblonde

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dmpitta1987 said:
Trying to get a gauge on what one could realistically expect to make on a 3 bed 1.5+ bath, 1,200+ sq ft single-family house.
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Depending on the condition of the house and location amenities (waterfront, close to base, etc), you can get upwards of $1200/mo rent.
 
B

BernieP

Resident PIA
Ken King said:
That is what rental property insurance is for.
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and a management company.
Rental prices are very high, for a decent place, really really high compared to a mortgage.
But, you need to qualify for a mortgage and while housing prices aren't as high as suburban DC, they aren't midwest low.
A basic 2000sqft home in a decent location will set you back $350K. I know people that are buying in Patuxant Homes and flipping.
had a real estate agent that had several rentals in what he called Garbage Gardens.
 
RoseRed

RoseRed

American Beauty
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dmpitta1987 said:
Looking for any way I can to make some extra income and get out of the pointless corporate rat race sooner than later
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I know a couple of people who had rentals. They rented to GS-13's, not Section 8, so you would think they'd have their crap together. Both places were left trashed.
 
Monello

Monello

Smarter than the average bear
PREMO Member
Avoid the Lexington Park area, no matter how good the deal looks.

Rental income is financing my rolling down the road. A good property management company is worth what ever you pay them and then some.
 
spr1975wshs

spr1975wshs

Mostly settled in...
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Monello said:
A good property management company is worth what ever you pay them and then some.
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When we went from Offutt AFB to Wright-Patterson back in 1991, SAC had just announced a 23% RIF at Offutt. We engaged a professional property manager (2 retired USAF E-9's). They took excellent care of the property and vetted tenants with a very critical eye. We made a profit when we were able to sell the house in 1996.
 
dmpitta1987

dmpitta1987

New Member
Monello said:
Avoid the Lexington Park area, no matter how good the deal looks.

Rental income is financing my rolling down the road. A good property management company is worth what ever you pay them and then some.
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Do you have any suggestions for a good property manager in the area?
 
frequentflier

frequentflier

happy to be living
vraiblonde said:
Depending on the condition of the house and location amenities (waterfront, close to base, etc), you can get upwards of $1200/mo rent.
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There is a 500 sq ft in law apartment attached to my home. It is currently rented for $1250 a month furnished.
A recently renovated home up the road 2bed/2 bath fetched $1800 a month. This is in the more rural part of Lusby.
There have been times my rental has sat empty due to no good prospects but we don't depend on the "income" to pay the mortgage.
 
NorthBeachPerso

NorthBeachPerso

Honorary SMIB
frequentflier said:
There is a 500 sq ft in law apartment attached to my home. It is currently rented for $1250 a month furnished.
A recently renovated home up the road 2bed/2 bath fetched $1800 a month. This is in the more rural part of Lusby.
There have been times my rental has sat empty due to no good prospects but we don't depend on the "income" to pay the mortgage.
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The prices above are more realistic, rents in North Beach are touching $1800 for a two bedroom cottage off the water, higher nearer of course. There's a new build down the street for me going for $3200, four bedrooms, while the one across the street is at $2200 for three bedrooms.

We have a couple vacation rentals that list at $900+/night although most of the VRBOs are in the $250-$300/night range.

Keep in mind we have no private waterfront here.
 
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LightRoasted

LightRoasted

If I may ...
If I may ...

dmpitta1987 said:
I'm new to Calvert, recently bought a townhouse in Ches beach. My wife and I are looking to buy a rental property or two this year but unsure of what the market is like here. There seem to be FSBOs and fixer-uppers that pop up occasionally in Hollywood, California, Leonardtown and Lusby. Trying to get a gauge on what one could realistically expect to make on a 3 bed 1.5+ bath, 1,200+ sq ft single-family house.

My assumption was that this is more of a buyer's market than a renter's (especially when compared to Montgomery or PG county) but from what I've been told, PAX naval base brings a lot of renters to the area and so north St Mary's is a good investment. Any opinions would be greatly appreciated.
Click to expand...
Why are you asking us? You have access to tons of up to the minute real estate data (current and historical prices and rates on sales, rentals, etc.) via the MRIS (Metropolitan Regional Information Systems), Matrix and Keystone, as well as all the other insider information that propagates throughout the real estate industry, as part of, you, being a real estate agent. A shady fellow you are.
 
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