Rare Gem, Towson Near Rent-Ready Condo $109k/ sold $140k in 2024

Property Snapshot

Type: 2 Bed / 1 Bath High-Rise Condo
Building: The Penthouse (Towson Circle)
Square Feet: ~878–880
Condition: Near Rent-Ready ( updated bath & kitchen, in-unit W/D)
Condo Fee: ~$550/month
Special Assessment: ~$150/month (for building repairs)
Building Upgrades in Progress: (Assessment indicates building-level work underway)
Location Perks: Central to Towson, restaurants, shops, Towson University nearby
Association Fee Incl.: Common Area Maintenance, Exterior Building Maintenance, Insurance, Pool(s), Reserve Funds, Security Gate, Water
Amenities: Club House, Concierge, Elevator, Exercise Room, Fitness Center, Pool – Outdoor, Security

Deep discount vs ARV: Asking $109K, comps show $140K — plenty of margin for an investor.
Minimal rehab required: According to notes, doesn’t need more than ~$5K of light fixes.
Strong rental market: Proximity to Towson University, retail, transit, and urban amenities supports good rent demand.
Condo building undergoing repairs: The $150/mo assessment shows maintenance investment — you get benefit after upgrades are done.
High barrier to entry: Many prospective buyers are owner-occupants; this is attractive to those wanting turn-key rental income.

Only light cosmetic work is needed (paint, minor floor repair, fixtures)
No structural or major system overhaul expected
The building repairs (covered by special assessment) will enhance building condition and support future value

Steps from Towson University, shopping, dining, and transit corridors
High demand area for student housing, young professionals, and urban renters
Building-level upgrades will improve building’s condition, curb appeal, and maintenance reserve