"McElderry Park"

ONLINE REAL ESTATE AUCTION

TWO STORY BRICK
TOWNHOME
~Lead Free~

Known As:
501 N. ROSE STREET
Off McElderry Street
Baltimore City, MD 21205

BIDDING OPENS:
FRIDAY, NOVEMBER 20, 2020

BIDDING CLOSES:
MONDAY, NOVEMBER 23, 2020
AT 12:00 P.M.

– Bidding Starts at: $20,000 –

NOTE: The information contained herein has been obtained from sources deemed reliable and is believed to be accurate. However, no express or implied warranty is made or may be inferred from any such representation. Dimensions, square footage and acreage contained herein are more or less. Prospective purchasers are encouraged to perform their own due diligence, in advance of the auction, regarding the permitted uses of the property.

LOCATION:
501 N. Rose Street is located in the McElderry Park neighborhood in East Baltimore City. Surrounding neighborhoods include Patterson Park, Ellwood Park and C.A.R.E. The home is located in a bustling area of East Baltimore – close to the shops, restaurants and community services on Monument Street, an easy walk to Patterson Park and stabilized by the presence of world renowned Johns Hopkins Hospital. Commuters within the area can take advantage of Orleans Street to the south for east/west travel and Broadway to the west for north/south travel. Various bus routes and a metro line are all within a 15 minute walk. Major employers in the area include Johns Hopkins Hospital, Mid-Atlantic Baking Company and Ferguson Plumbing Supply.

SITE:
Rectangular lot – 14′ x 65′ – Plat
Zoning R-6, residential
All public utilities
Fenced rear yard

IMPROVEMENTS:
Two story end-of-group townhome, built in 1920, according to public tax records. The home has been well maintained for years, including a complete lead free renovation and roof repair. The home features bamboo flooring, granite countertops, first floor washer and dryer area and an attached master bathroom. The home was previously rented for $1,050 per month to a long-term tenant, and is currently vacant. Lead Inspection Form

EXTERIOR:

• Brick exterior
• Vinyl replacement windows
• Fenced rear yard
• Roof replaced 8/15/16 with new silvercoat on 12/3/19

INTERIOR:

First floor:

• Living room – hardwood flooring with ceiling fan
• Washer/dryer area
• Half Bathroom – tile flooring
• Kitchen – tile flooring and granite countertops with walk out to rear

Second floor:

• Bedroom – hardwood flooring with ceiling fan
• Bathroom – tile flooring
• Bedroom – hardwood flooring with ceiling fan
• Bathroom – tile flooring attached to master bath. Tub and shower.

Basement/mechanical:

• Unfinished basement
• Gas central air conditioning and forced air heat
• 45 gallon gas water heater
• 100 amp electric circuit

TAX INFORMATION:
Published annual real estate taxes are $896.80, based on a full value assessment of $38,000.

TITLE:
$120 ground rent payable in semi-annual installments on 2/28 and 8/28; sold free and clear of liens. Baltimore City Deed Book FMC 7484, Page 144.

SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
A $2,500 deposit, or 10% of the purchaser price (whichever is greater), payable by cashier’s check or wire transfer, will be required of the purchaser within 24 hours of bid closing at the Auctioneer’s office, 6500 Falls Road, Baltimore, MD 21209. Deposit funds shall be held by A. J. Billig & Co., LLC. Balance to be paid in cash at settlement, which shall take place within 45 days. If payment of the deposit or balance does not take place within the specified time, the deposit shall be forfeited and the property may be resold at the risk and expense of the purchaser. Interest to be charged on the unpaid purchase money, at the rate of 12% per annum, from date of contract to date of settlement. All adjustments, including taxes, ground rent, all other public charges and assessments payable on a monthly or annual basis, and sanitary and/or metropolitan district charges, if any, to be adjusted for the current year to date of contract and assumed thereafter by the purchaser. The property will be sold in “AS IS” condition, subject to easements, agreements, restrictions or covenants of record affecting same, if any. Purchaser assumes the risk of loss from the date of contract forward. The purchaser agrees to waive the right of inspection for lead paint, as provided under current Federal and State law. If the Seller is unable to convey good and marketable title, the purchaser’s sole remedy in law or equity shall be limited to the refund of the deposit. Upon refund of the deposit this sale shall be null and void and of no effect, and the purchaser shall have no further claim against the Seller or Auctioneers. Recordation costs, transfer taxes and all costs incidental to settlement to be paid by the purchaser except where otherwise mandated by local, State or Federal law. Time is of the essence. A 5% buyer’s premium will be added to the final bid price.