Baltimore offers a rare combination: distressed inventory priced below replacement cost, a large renter population that keeps ARVs stable, and proximity to DC that draws buyer demand from relocating professionals. The rowhouse stock throughout Hampden, Remington, and Pigtown provides repeatable flip templates — same footprint, predictable rehab scope, consistent buyer pool.
Entry-level rowhouse flips in Baltimore typically run $80k–$130k purchase, $40k–$80k rehab, with ARVs in the $220k–$320k range depending on neighborhood. Mid-tier projects in Hampden or Roland Park push ARVs above $400k but require more cosmetic precision to satisfy buyers at that price point.
On a $280k ARV rowhouse with $55k rehab, your MAO is $141k. Buying at $120k gives you a $21k cushion above MAO — comfortable margin for a Baltimore deal.
Baltimore rowhouses often have aging plumbing, knob-and-tube electrical, and flat or low-slope roofs. Budget $8k–$15k for roof work on older stock. Mechanicals (HVAC, plumbing, electric) commonly run $25k–$40k on a full gut. Factor lead paint remediation into any pre-1978 property — it is nearly universal in this market.
Hard money lenders are active in Baltimore. Expect 10–12% interest, 2–3 points, 70–75% LTV on ARV. Deals under $150k purchase often require local or regional lenders rather than national platforms. Build relationships with Baltimore-based hard money shops for faster closings on competitive deals.
Dan White is a licensed Virginia real estate agent at Pearson Smith Realty and founder of FreeDealCalc.com. He has been investing in Northern Virginia real estate for 20+ years.