The best way to determine this answser is to talk to those that have already decided to invest in the area. In spite of the slow down in the market, Baltimore is still moving forward. Some projects may have been stalled for a bit but then many more are still progressing. Our City has so much to be proud of and the more people we have that are willing to be pioneers to continue the progress, the better the City is and usually the payoff in the end is worth it. You do have to ask most importantly...are you willing to live there and can you be comfortable doing so while the progress continues. As for the renovations, I would recommend getting some recommendations for contractors for the work that you cannot do yourself. If work is related to lead paint, try speaking with Maryland Cleaning and Abatement - 410-377-0500 to get some estimates both for lead issues and perhaps asbestos issues if there are any as well. They have not only done work for clients but also for my daughter and I have always been happy with their work. Keep in mind that not all lead has to be abated, it depends on the level and also the condition, i.e., chipping, peeling, etc. Also, you could have a Realtor give you some comps for the area over a period of years to see if the values have continued to improve. Hope this helps. Good luck! Feel free to contact me if I can be of any further assistance.

Warmest regards,

Susan Myszkowski
Yerman, Witman, Gaines and Conklin Realty
443-831-5669

I have listed and sold 14 properties in the area on many of the streets( Chester, Bradford, Baltimore, Milton, Montford, Port, Luzerne, Belnord, Curley, Patterson Park Ave, Lakewood, Lombard, Rose) ranging from shells

Hi D,
You are right, that area is in a transition. Baltimore is unique as it is one city that a lot of professionals are moving back into after the 60's flight out. I would not count on 20K in improvements though. Most of these homes have high lead contents and mayl need lead abatement work done inside by professionals. They also have high asbestos content. Another thing you don't want to fool with as it too can kill you if not done right. I would contact an asbestos abatement firm and get a rough estimate for your typical Baltimore rowhouse. A friend of mine told me it is about $50K but I never verified that. I had been thinking of doing a rehab on an $25K rowhouse but when I added it all up it wasn't right for me at the time.
If I were looking at the neighborhood, I would count the number of rehab's done and in process against the boarded up houses. If they outweigh the negative I would probably seriously consider. The rehab price though might be an issue. Next time you are in the area while workers are around, see if you can get a price out of them. They may know what the rehab they're working on cost (at least they'll have the rumor to go by). Let me know how you make out. If you need a good contractor I could give you the name of one I've used that was really good and honest. Good luck! Cher