244 Blakeney Rd · Catonsville, MD 21228

$329,900

2 bd · 2.0 ba · 1,360 sqft · MultiFamily public records · 7 Days on market

Built 1955 3,737 sqft lot

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +13.8/30.0
• ARV discount +7.5/15.0
• DSCR +4.2/10.0
• Livability +4.0/5.0
• 1% rule +3.5/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Key facts

• 3,737 sq ft lot
• Built 1955
• Listed 6 days

Property features AI

Finance

• Other: Total finished above-grade area and finished/unfinshed below-grade area recorded by assessor
• Financial info: Land and improvement assessed separately; Ground rent paid annually

Exterior

• Parking: Alley access; On-street parking
• Utilities: Public water; Public sewer
• Home design: Fee simple ownership; Built year according to assessor; Entry located at end of row
• Construction: Brick construction; Block foundation
• Exterior features: Above-grade and below-grade structures; No tidal water

Interior

• Bedrooms: Two one-bedroom units (multi-unit property)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: End of Row/Townhouse structure

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $330k.

Deal economics

• At list price, monthly cash flow is $30 ($355/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $279k (15.4% below list).
• Recommended offer: $279k (15.4% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.4% in Catonsville — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 81/100 on livability (#43 in MD, #1,586 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: crime D, cost of living D.
• Baltimore County Public Schools (suburban): math 15% / reading 34% proficiency, ranked #11 of 24 in MD (top 46%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+1.9%/yr); 144 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,511 units permitted in Baltimore County in 2024 (643 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Baltimore County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $52k; list at $330k implies a 534% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 26% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $279,100 (15.4% below list)

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.85% ✗
• Cap rate: 6.40%
• Cash-on-cash: 0.38%
• DSCR: 1.02
• GRM: 9.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.87% rent growth · sell at horizon

5-year hold

• IRR: -16.9%
• Equity multiple: 0.41×
• Total profit: $-54,734
• Equity at exit: $49,189

10-year hold

• IRR: -10.9%
• Equity multiple: 0.37×
• Total profit: $-57,911
• Equity at exit: $28,524

Cash invested: $92,372 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 27 Tenant-Leaning
• State Maryland: 27 Tenant-Leaning · D+14
• County: — inherits STATE
• City: — inherits STATE

Failure-to-pay is dismissed if cured before judgment; Baltimore has just-cause; strict deposit rules.

Methodology + full state rankings →

ZIP-level market 21228

• Rents YoY: 1.9%
• Active inventory: 144
• Price-to-rent: 19.7×

Monthly cashflow live

• Estimated rent: $2,791 high
• Mortgage (P&I): −$1,730
• Tax from tax record: −$308 /mo · $3,694/yr
• Insurance: −$137
• HOA: −$0
• Vacancy / Maint / Mgmt: −$586
• Net cashflow: $30

Break-even live

Break-even rent $2,754

Max offer price $329,900

Occupancy floor 94%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,790
Total (2 units)			$2,791

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $82,475
• Closing costs: $9,897
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
51 Briarwood Rd Catonsville, MD	3.0	1.0	1200	$2,100	$1.75	43d	1	0.41mi
6300 Mount Ridge Rd Unit A Catonsville, MD	2.0	1.0	1100	$1,750	$1.59	43d	1	0.42mi
201 S Symington Ave Catonsville, MD	1.0–2.0	1.0	788	$1,519	$1.93	1d	13	0.46mi
6316 Frederick Rd Unit 2 Catonsville, MD	1.0	1.0	1498	$1,150	$0.77	2d	1	0.47mi
609 Wallerson Rd Catonsville, MD	3.0	2.0	1704	$3,395	$1.99	20d	1	0.49mi
39 Bloomsbury Ave Unit 1 Catonsville, MD	2.0	1.0	1100	$1,800	$1.64	43d	1	0.50mi
311 Harlem Ln Catonsville, MD	3.0	2.0	1152	$2,300	$2.00	4d	1	0.67mi
238 Oglethorpe Rd Catonsville, MD	2.0	1.0	968	$1,650	$1.70	4d	1	0.69mi
417 Wheaton Pl Catonsville, MD	1.0	1.0	1000	$1,859	$1.86	43d	1	0.71mi
417 Wheaton Pl Catonsville, MD	1.0	1.0	1000	$1,819	$1.82	2d	1	0.71mi
417 Wheaton Pl Catonsville, MD	2.0	1.0	1200	$2,169	$1.81	3d	1	0.71mi
220 Stonecroft Rd Unit 230-D Baltimore, MD	2.0	1.5	900	$1,395	$1.55	21d	1	0.92mi
220 Stonecroft Rd Unit 232-I Baltimore, MD	2.0	1.5	900	$1,295	$1.44	17d	1	0.92mi
408 Shade Tree Pl Catonsville, MD	1.0–2.0	1.0–2.0	805	$1,812	$2.25	4d	1	0.95mi
1 Summit Hill Ct Unit T-2 Baltimore, MD	2.0	2.0	1009	$1,900	$1.88	43d	1	0.98mi
5364 Jamestowne Ct Baltimore, MD	3.0	1.0–1.5	787	$1,590	$2.02	4d	13	1.02mi
131 N Bend Rd Unit 131-1B Baltimore, MD	2.0	1.5	910	$1,225	$1.35	21d	1	1.10mi
526 Random Rd Unit 1ST FLOOR Baltimore, MD	1.0	1.0	1140	$1,250	$1.10	43d	1	1.18mi
670 Queensgate Rd Baltimore, MD	3.0	2.0	1600	$2,100	$1.31	4d	1	1.22mi
603 Braeside Rd Baltimore, MD	3.0	2.0	1416	$2,400	$1.69	43d	1	1.23mi
5147 Frederick Ave Baltimore, MD	3.0	2.0	1216	$1,950	$1.60	3d	1	1.25mi
501 Hazlett Ave Baltimore, MD	2.0–3.0	1.5–2.0	1044	$1,395	$1.34	1d	8	1.34mi
410 Winters Ln Catonsville, MD	2.0	2.0	1296	$2,000	$1.54	4d	1	1.39mi
930 Masefield Rd Unit 1 Woodlawn, MD	3.0	1.5	1080	$2,650	$2.45	2d	1	1.42mi
565 Brisbane Rd Baltimore, MD	2.0	2.0	1146	$1,675	$1.46	23d	1	1.46mi
4700 Gateway Ter Arbutus, MD	1.0–3.0	1.0	728	$1,336	$1.84	43d	1	1.47mi
4630 Warren Tree Way Baltimore, MD	3.0	1.5	1736	$2,500	$1.44	4d	1	1.48mi

Listing history 12 events

1. 2026-06-18
   days on market $329,900 Active 7 DOM
2. 2026-06-17
   days on market $329,900 Active 6 DOM
3. 2026-06-16
   days on market $329,900 Active 5 DOM
4. 2026-06-15
   days on market $329,900 Active 4 DOM
5. 2026-06-13
   statusdays on market $329,900 Active 2 DOM
6. 2026-06-09
   days on market $329,900 Coming Soon 9 DOM
7. 2026-06-08
   days on market $329,900 Coming Soon 8 DOM
8. 2026-06-07
   days on market $329,900 Coming Soon 7 DOM
9. 2026-06-04
   days on market $329,900 Coming Soon 4 DOM
10. 2026-06-03
    days on market $329,900 Coming Soon 3 DOM
11. 2026-06-02
    days on market $329,900 Coming Soon 2 DOM
12. 2026-06-01
    listed $329,900 Coming Soon 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MD · Partial reset (capped growth)

• Current annual tax: $3,694 · $308/mo
• Projected year-2 tax: $3,694 · $308/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,492
• − Mortgage interest: −$18,480
• − Property taxes: −$3,694
• − Insurance: −$1,650
• − Repairs & maintenance: −$2,679
• − Management: −$2,679
• − Depreciation: −$9,597
• Taxable loss: −$5,287
• Est. tax savings @ 24.0%: +$1,269
• After-tax cash flow: $1,624/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Baltimore County Public Schools
• NCES district ID: 2400120
• Math proficiency: 15% ▼ -16.00%
• Reading proficiency: 34% ▼ -5.00%
• Median HH income: $66,746
• Composite: 23.17/100
• National rank: #7948
• State rank: #11 of 24 in MD

Livability — Catonsville

• Score: 81/100
• State rank: #43
• US rank: #1586

Category grades

Amenities C+ Commute A+ Cost of living D Crime D Employment A+ Housing A+ Health & safety A- User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Catonsville, MD
• County: Baltimore County · 769,527 people
• City population: 50,492
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 50,492
• Household income: $112,656
• Rent vs Own: 29.0% rent · 71.0% own
• Severe rent burden: 1820.0

Population outlook (Baltimore County) Hauer SSP2

• Today (2025): 885,518 people
• By 2030: 909,272 · +2.7%
• By 2040: 951,547 · +7.5%
• By 2050: 990,955 · +11.9%
• By 2075: 1,086,411 · +22.7%
• By 2100: 1,135,078 · +28.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 55% Black 18% Asian 14% Hispanic / Latino 7% Two or more races 7%
• Hispanic origin (detail): Mexican 1%
• Common ancestry: Romanian 3% Italian 2% Slovak 2%
• Foreign-born: 16% · Canada, Philippines, Vietnam
• Languages at home: 81% English-only · Other Indo-European 7% Spanish 5% Other Asian/Pacific 2%

Political lean MEDSL · Baltimore

• 2024 margin: Strong D (+24.5) · D 61.0% · R 36.5% · Other 2.5%
• 2008→2024 swing: +9.9pp toward D · 2008: 14.6pp · 2024: 24.5pp
• All cycles: 2024: D+24.5 2020: D+27.0 2016: D+17.4 2012: D+16.4 2008: D+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -370.51%
• Current HPI: 282.1593
• Rent YoY: ▲ 1.87%
• Metro: Baltimore-Columbia-Towson, MD
• State GDP YoY: ▲ 2.97%
• F500 in state: 12

Industry mix (Fortune 500 HQ in MD)

Industry	F500 HQs	Revenue
▸Aerospace / Defense	1	$71B
▸Utilities	1	$25B
▸Hotels	1	$24B
▸Consumer Goods	1	$7B
▸Real Estate	1	$6B
▸Chemicals	1	$2B

Price history

+534.4% since first listed

2 events — show timeline

• 2026-05-31 Coming Soon $329,900 BRIGHT MLS
• 1982-10-22 Sold (Public Records) $52,000 Public Records

Property tax history

+1.1%/yr

Latest (2025): $3,694 · +9.7% YoY. Source: county tax records.