After a few setbacks courtesy of Baltimore’s booming real estate market, we’re elated to announce that our investment property at 2205 E Cold Spring Lane in Lauraville has sold for $315,000! Our renovation included turning this former 3-bedroom, 2-bath home into a 4-bedroom with 3 full baths and an open floor plan on the main level.
We purchased the house for $129,900 in February 2021. After a relatively quick renovation, we listed the property and had it under contract in less than three months.
Built in 1959, this single-family home sits on a nearly 7,500 square foot lot. We knew it would sell fast as it has great bones and is in close proximity to local amenities like Zeke’s Coffee, Lake Montebello Park, and Morgan State University. It’s also convenient to major transportations lines so the new homeowners can get out of the city in a breeze.
Due to record-low interest rates as a result of the COVID-19 pandemic, the real estate market in Baltimore is roaring! While that’s great news for buyers, it materialized as higher renovation costs and sluggish wait times on our end.
Our $80,000 reno budget ballooned to $130,000 because of a 40% increase in material costs. It took the appraiser more than two weeks to come out and Baltimore Gas and Electric (BGE) nearly double that time to come and connect the electricity.
Renovation Highlights
While some people like to tile the kitchen floor (which I think looks awesome, if it’s done right) we chose to run hardwood flooring throughout the living room, kitchen, and dining rooms. Given the open floor plan, we thought this would give it a more cohesive look.
It also helps the homeowners focus on kitchen fixtures—including a granite waterfall on the breakfast bar—cabinets, and countertops without being distracted by varying floor patterns and materials.
We also had fun selecting details for other areas such as the bathrooms. We chose different tile and layering patterns for all three bathrooms (thanks to our installer for putting in the extra work for this!). Our favorite bathroom is the en-suite in the master. We got creative with the wall pattern and chose a funky floor tile that reminded us of African textiles.
If you’ve been following our reno videos during this journey, you know this project was more than cosmetics. We also updated the home’s major systems including HVAC, electrical panel, plumbing, water heater in addition to a new roof and windows.
All in all, we loved the way it turned out!
We want to give special thanks to our contractor and Alexandra Nicole of Nicole Decor. From staging to photos and video, Alexandra has a great eye and is steadily perfecting her craft. We can’t wait to work with these folks again in the future. At Ofori & Co., we’re all about people investing in people!
Next up, we’re renovating another investment property in Baltimore’s bustling Hampden neighborhood. You can follow that journey on our IG and subscribe to our newsletter for updates.