Monkton is a heavy-hitter market. Putting $120k into a $200k shell brings your total basis to $320k. In a neighborhood where 3-bed homes push $500k+, you're looking at a potential $180k spread. The finished basement and second bath are the real "money" moves here.
Keep in mind, an 1878 build is like an onion—the more layers you peel, the more potential for tears. Budget a contingency for "historical surprises" like foundation issues or old septic quirks. Since you're near the NCR Trail, a "modern farmhouse" vibe will crush it.
| Investment Breakdown | Value |
| :--- | :--- |
| Total Purchase + Reno Basis | $320,000 |
| Estimated After Repair Value (ARV) | $475,000 - $525,000 |
| Potential Profit Margin | ~$155,000 - $205,000 |
| Post-Reno Target Rent | $2,400 - $2,650 |
The Second Bath: Upgrading from a 3/1 to a 3/2 is the single biggest ROI move for resale value in Baltimore County.
Square Footage: Finishing that basement effectively moves you out of the "cottage" category and into a higher price bracket.
Secondary Structure: Don't forget the outbuilding mentioned in the auction notes. If it needs demo, factor that into your $120k.
Tax Strategy: If you hold this as a rental for over a year, you'll benefit from long-term capital gains rates versus high-tax short-term flipping rates.