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28 Allegheny Ave APT 2710
Towson, MD

28 Allegheny Ave APT 2710

$237,900
3 bd • 3 ba • 1,583 sf

This analysis was generated by artificial intelligence on 1/23/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

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AI Property Analysis

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List Price

$237,900

Price/Sq.Ft

$150

Year Built

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

This property excels with its prime location in downtown Towson, as evidenced by the commercial establishments visible in the image. At $150.28/sqft, it's priced significantly below the average for Towson, which typically ranges from $200-$250/sqft. The 1,583 sqft layout is spacious, offering 3 bedrooms and 3 bathrooms, making it versatile for various living arrangements. Its central location likely contributes to a high walk score, estimated at 85+. The property is part of a multi-unit building, suggesting potential amenities and shared maintenance costs. Current rental rates for 3-bedroom units in Towson average $2,600/month, indicating a potential gross yield of 13.1% annually.

The Bad

The property's construction year is unknown, which raises concerns about potential hidden issues and future maintenance costs. There's a lack of information on specific features, utilities, and systems, making it difficult to assess the overall condition and potential upcoming expenses. The presence of commercial spaces on the ground floor (Underground Pizza Co.) may lead to increased foot traffic and noise. The moving truck in the image suggests frequent tenant turnover in the area, which could impact property values and community stability.

The Ugly

The lack of parking visible in the image, combined with Towson's known parking challenges, could be a significant issue for residents and visitors. The property's location in a mixed-use building may result in higher HOA fees to cover commercial space maintenance. There's potential for noise and odor issues from the restaurant below. The area's high property taxes (typical for Baltimore County) combined with possible special tax districts could significantly increase the total cost of ownership. The ongoing development in Towson, while potentially beneficial for property values, may lead to construction noise and disruption in the short term.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

This property is ideal for young professionals or small families with household incomes around $80,000-$100,000, based on the median income of $90,032 in Towson. It's perfect for those prioritizing a central location with easy access to dining and entertainment. Investors looking for properties with strong rental potential in a college town market (due to Towson University) may find this attractive. The 3-bedroom layout also suits roommate situations, potentially appealing to graduate students or young professionals sharing housing costs.

Not For

Not suitable for buyers seeking a quiet, suburban environment due to its downtown location. The lack of visible parking makes it impractical for multi-car households or those reliant on personal vehicles. Not ideal for investors looking for low-maintenance, turnkey properties due to the unknown age and condition of the building. The mixed-use nature of the building may not appeal to families with young children who prioritize residential-only environments.
Demographics
Area Median Income

$90,032

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Risk Assessment

Risk Analysis

The unknown construction year poses risks of hidden structural or system issues. Potential for increased noise and reduced privacy due to the mixed-use nature of the building. Parking scarcity could affect resale value and tenant satisfaction. The property may be subject to strict HOA regulations due to its location and building type. There's a risk of rising property taxes and special assessments in Towson's developing market. The proximity to Towson University could lead to seasonal rental market fluctuations.

Financials

Monthly Costs

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$389,000

63.5% above list price

Median Price

$310,000

Based on 6 recent sales

Price per Sq.Ft

$226

Comparable Properties

905 LOCUSTVALE RD, TOWSON, MD 21204
Price: $415,000
Sq.Ft: 1,786
Beds/Baths: 3/3
$/Sq.Ft:
$23254.6%
Sale Date: 10/10/2024
536 PICCADILLY RD, TOWSON, MD 21204
Price: $705,000
Sq.Ft: 1,745
Beds/Baths: 3/3
$/Sq.Ft:
$404168.8%
Sale Date: 9/25/2024
510 OVERCREST RD, TOWSON, MD 21286
Price: $310,000
Sq.Ft: 1,834
Beds/Baths: 4/3
$/Sq.Ft:
$16912.5%
Sale Date: 10/9/2024
20 THEO LN #20, TOWSON, MD 21204
Price: $305,000
Sq.Ft: 1,850
Beds/Baths: 3/3
$/Sq.Ft:
$1659.7%
Sale Date: 9/20/2024
3 SOUTHERLY CT #106, TOWSON, MD 21286
Price: $290,000
Sq.Ft: 1,550
Beds/Baths: 2/2
$/Sq.Ft:
$18724.5%
Sale Date: 12/12/2024
3 SOUTHERLY CT #608, TOWSON, MD 21286
Price: $309,000
Sq.Ft: 1,566
Beds/Baths: 2/2
$/Sq.Ft:
$19731.3%
Sale Date: 11/28/2024

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