Hot House: Remington Townhouse In Prime Location, $75K Minimum Bid at Auction

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Hot House: 2811 Remington Avenue, Baltimore, MD 21211

Brick, three-story townhouse, circa 1900, in fair condition, with built-up roof and full basement.  Three bedrooms, one full bathroom over 1,170 sq. ft. with small fenced front and rear gardens. Street parking. Public onsite auction September 6, at 11 am by Ashland Auction Group, LLC. Minimum bid: $75,000 (up from original minimum of $50,000) 

What: A good bet for an investment property. Three days ago, the minimum bid for this Remington townhouse was $50,000. Yesterday it went to $75K. House prices are on the rise in Remington, up 12 percent in the past year.    Remington Row, a new mixed-use retail and residential block where one bedrooms at $1,500/month are beginning to pre-sell, has brought long-needed amenities to an area that had been in decline. A bank, a drugstore, a dry cleaner and a  medical practice — Johns Hopkins Community Physicians — are in place. It’s hard to say what kind of shape the house is in. Photos online are dark and forbidding, but show no real structural damage.

Where: Remington Avenue is one of the main streets running north to south in Remington, from Wyman Park down to North Howard Street. Remington has been trending for a few years now, mainly due to the rising tide of Johns Hopkins University, .8 miles to the north. Recently, several major development projects have transformed the neighborhood and the location of this house, between 27th and 28th Streets on Remington,  has become suddenly and unexpectedly desirable. Across the street is R House, the cool new food hall and market. Remington Row is a block south. Nearby on North Howard are Spike Gjerde’s restaurant Parts & Labor and the Indie- rock music venue Ottobar. Down on 23rd, there is restaurant Clavel and speakeasy W.C. Harlan. Easy access out of town, too, on I-83, via 28th Street.

Would Suit: Early Adapters. Moonlighting builders.

Why: Location. Also, three stories and more curb appeal than most Remington houses.

Why Not: Owner occupied. Looks grim. Make sure the owner is out before you close.

NB: A recent assessment values this house at $103,000. Homes in Remington rent for an average of $1,400/mo. Median home value in Remington is $180,300.