436 Federal Street — design within reach (sold above list price)

October 6, 2016 gbridgesReal Estate

It seems every day there’s a new app, new startup, or a new area to invest in real estate. Back in April 2015, I talked about Station North reaching a tipping point. See eyesonbaltimore.com/2015/04/. With so much rehab activity in the Greenmount West section of the Station North Arts District, there is no area more exciting and abuzz with activity.

Years before Greenmount West was designated a part of the Station North Arts District, it was a viable community with an intact social infrastructure. With the influx of newcomers, a sort of cross-pollination has catalyzed the area with new energy to finally tip the point. You can see it every morning with the caravan of briefcase-carrying commuters making their way to Penn Station. That social infrastructure is also strengthened by the always-artsy Charles Theater, a Montessori School, the ingenious Open Works, and three art galleries. One such gallery is New Door Creative, which Bmore Art called “the coolest Baltimore gallery you never heard of.”

There are large homes in the mid $300Ks on Lafayette Avenue and Lanvale Street, and then there are the smaller Federal Street homes with 2 bedrooms and one bathroom (or one and a half) that sell for less than $200K.

Federal Street homes are ripe with value and nowhere is this more apparent than at 436 Federal Street. This is a true ground-up rehab with all new plumbing and electrical systems and, of course, a home warranty. The walls are architect white and the floors are light natural oak hardwood.

Every aspect of this home exhibits attention to detail. But some of its best features are not visible to the naked eye: the Commission for Historical and Architectural Preservation (CHAP) tax credit (seller had submitted CHAP application). This ten-year tax credit for all renovations, interior and exterior, is the most generous in Baltimore City, and among the most comprehensive in the country. Go to CHAP to see more information about this program. There are also downpayment assistance programs including the $10,000 Vacants to Value Booster downpayment assistance program and the JHU Live Near Your Work program offering generous down-payment assistance for its employees. If you qualify for the downpayment assistance programs available, it is possible to buy this house with less than $1000 down. Click Alan Sanders at Prosperity Mortgage to get more information about the costs associated with buying this house.

This home was ranked very walkable and very bikeable with excellent transit by walkscore.com. Given its proximity to everything, not owning a car is not a problem.

Here are the walkables from 436 Federal Street:

11-minute walk to Penn Station
4-minute walk to Open Works see http://www.baltimoreartsrealty.com/1400/
10-minute walk to restaurants and the Charles Theater.

9-minute walk to Stang of Siam
10-minute walk to Charles Theatre
13-minute walk to University of Baltimore School of Law
14-minute walk to Joe Squared
15-minute walk/ 7-minute bike ride to Red Emma’s Bookstore and Café
19-minute walk/ 10-minute bike ride to Maryland Institute College of Art
21-minute walk/ 8-minute bike ride/ 6-minute drive to Safeway on Charles and 25^th Street