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A Trio of Blight: 932, 934, and 936 E Preston Street

6

January 14, 2013 by Baltimore Slumlord Watch

Property Address:  932, 934, and 936 E Preston Street, Baltimore, MD 21202

Property Owner (932):  Hyacinth Ingram, 137-12 223rd Street, Laurelton, NY 11413

Property Owner (934):  James and Mae Matthews, same address

Property Owner (936):  William and Yoma Howard, 8552 Stevenswood Road, Baltimore, MD 21224

City Council District and Contact:  District 12, Carl Stokes

State Senator:  Verna Jones Rodwell

State Delegates:  Keith Haynes, Keiffer Mitchell Jr, Melvin Stukes

932, 934, and 936 E Preston Street

932, 934, and 936 E Preston Street

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6 thoughts on “A Trio of Blight: 932, 934, and 936 E Preston Street

  1. Amos says:

    Looks like a $700,000+ rehab for the three buildings, on a block with a good walk score – 72 – but a lot of traffic. Assuming they could be made into 4 BRs, the only selling point would be the price, meaning $1000 per month rent for each. Potential 4% rate of return does not cover the cost of financing.

    • Baltimore Slumlord Watch says:

      That’s the part I don’t understand. I’m assuming you know the neighborhood and surrounding area, so why would someone buy a house here and expect to receive a large return on their investment? It’s not the kind of neighborhood that’s ever going to see $2500+ monthly market rate rents. $1000 is the most someone would probably pay, and the idea is to get more homeowners onto these blocks — but what homeowner wants to live in the middle of a bunch of blighted homes?

  2. michael cherry says:

    I know that I am a little late on the topic but I have to put my two cents in. You wrote 700k to rehab three buildings. What kind of crack are you smoking? Unless the foundation or the roof is jacked up, you should be able to turn any dump into a nice place for $100 a square.

    • Baltimore Slumlord Watch says:

      Yeah I’m not buying the 700K nonsense either.

    • Amos says:

      I’ve only rehabbed 50 former shells, all now rented, so what do I know. And these East Preston buildings are each over 15 feet wide, so if you figure 40 feet deep, and rehab all four levels, i.e., including the basement, and multiply by 100 sq feet, like wow, you get $720,000. But, you’re right, someone who rehabbed 50 shells, rescuing crumbling blocks, just to deal with sarcastic sadists like yourselves indeed must be smoking crack.

      • Baltimore Slumlord Watch says:

        Please clean up your blighted homes, Mr. Weinberg. You are your business partner Cohen are quite tiresome.

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