1720 N Payson St · Baltimore, MD 21217

$15,900

3 bd · 1.0 ba · 1,536 sqft · Townhouse · 13 Days on market

Built 1915 1,307 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Built in 1915, this attached rowhome offers approximately 1536 finished square feet, three bedrooms and one full bath, unfinished basement and covered rear porch. This home sits on an approximate 1307 sqft lot. Home has been gutted and uninhabitable, needing total renovation.

Key facts

• Built 1915
• Listed 13 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Interior townhouse/rowhouse; Flat roof
• Construction: Brick construction; Other foundation; Above-grade and below-grade structures; Year built per assessor
• Exterior features: No tidal water

Interior

• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level; 1 full bathroom total
• Interior features: Estimated living area; Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $16k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $16k).
• Cap rate 102.9% vs local median 6.0% in Baltimore — 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 76/100 on livability (#90 in MD, #3,396 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A+; Watch: schools D, crime F.
• Baltimore City Public Schools (urban): math 7% / reading 16% proficiency, ranked #24 of 24 in MD (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.6%/yr); 334 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• At $1,759/mo this rent would consume 55% of the median local household income ($38k/yr) (locally 2921% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $110 of loan paydown is wiped out by about $477 of value loss. Plan a longer hold.
• Baltimore County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 6.6% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $15,900

Questions for the listing agent

1. Built in 1915 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is F 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?
5. 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?
6. 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.
7. 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.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 11.06% ✓
• Cap rate: 102.86%
• Cash-on-cash: 344.90%
• DSCR: 16.35
• GRM: 0.8

CMA / ARV

• ARV (on-the-fly): $139,776
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1601 Ruxton Ave	0.28mi	3/1.0	1,568 (+2%)	1mo	$90,000	$57	83
2105 Whittier Ave	0.48mi	3/1.5	1,587 (+3%)	1mo	$80,000	$50	69
2009 Ruxton Ave	0.31mi	4/2.0 (+1)	1,600 (+4%)	1mo	$234,000	$146	69
1722 N Bentalou St	0.23mi	4/2.0 (+1)	1,450 (-6%)	3mo	$245,000	$169	69
1719 Baker St	0.28mi	2/1.0 (-1)	1,400 (-9%)	2mo	$19,250	$14	66
2117 N Smallwood St	0.31mi	3/2.5	1,680 (+9%)	1mo	$192,000	$114	64
2521 Reisterstown Rd	0.64mi	3/2.0	1,578 (+3%)	3mo	$215,000	$136	60
2453 Mcculloh St	0.66mi	3/1.0	1,460 (-5%)	3mo	$99,900	$68	58
608 Cumberland St	0.42mi	3/2.0	1,700 (+11%)	2mo	$90,000	$53	57
2404 W Lafayette Ave	0.72mi	3/2.0	1,476 (-4%)	2mo	$135,000	$91	54
2400 W Lafayette Ave	0.71mi	4/2.0 (+1)	1,584 (+3%)	2mo	$263,000	$166	51
2400 Reisterstown Rd	0.51mi	3/2.0	1,752 (+14%)	5mo	$75,000	$43	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 6.63% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 20.23×
• Total profit: $85,604
• Equity at exit: $2,371

10-year hold

• IRR: —
• Equity multiple: 47.95×
• Total profit: $209,031
• Equity at exit: $1,375

Cash invested: $4,452 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 12 Strongly Tenant-Friendly
• State Maryland: 27 Tenant-Leaning · D+14
• County: — inherits STATE
• City Baltimore: 12 Strongly Tenant-Friendly · D+58

Just-cause for tenancies > 1 yr.

Methodology + full state rankings →

ZIP-level market 21217

• Rents YoY: 6.6%
• Active inventory: 334
• Price-to-rent: 0.8×

Monthly cashflow live

• Estimated rent: $1,759 high
• Mortgage (P&I): −$83
• Tax est. 1.5%: −$20 /mo · $238/yr
• Insurance: −$7
• HOA: −$0
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $1,280

Break-even live

Break-even rent $139

Max offer price $15,900

Occupancy floor 22%

Sensitivity live

Price	-10% $1,291	-5% $1,285	+0% $1,280	+5% $1,274	+10% $1,269
Rent	-10% $1,141	-5% $1,210	+0% $1,280	+5% $1,349	+10% $1,419
Rate	-1.0pp $1,288	-0.5pp $1,284	base $1,280	+0.5pp $1,275	+1.0pp $1,271

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: $3,975
• Closing costs: $477
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1501 N Payson St Baltimore, MD	3.0	1.0	1400	$1,550	$1.11	45d	1	0.19mi
1616 N Fulton Ave Baltimore, MD	3.0	2.0	1620	$1,795	$1.11	5d	1	0.20mi
1729 N Fulton Ave Baltimore, MD	3.0	2.0	1081	$1,795	$1.66	45d	1	0.21mi
1816 N Bentalou St Baltimore, MD	3.0	2.0	1350	$1,700	$1.26	25d	1	0.24mi
1816 N Bentalou St Baltimore, MD	3.0	2.0	1350	$1,700	$1.26	12d	1	0.24mi
1806 N Mount St Baltimore, MD	3.0	3.0	1200	$1,700	$1.42	21d	1	0.27mi
1516 N Mount St Baltimore, MD	3.0	1.5	1830	$1,750	$0.96	16d	1	0.30mi
1433 N Fulton Ave Baltimore, MD	2.0	1.0	1200	$1,500	$1.25	45d	1	0.31mi
1617-A Moreland Ave Unit 2nd Flr Baltimore, MD	2.0	1.0	1500	$1,400	$0.93	45d	1	0.31mi
2204 Clifton Ave Baltimore, MD	3.0	1.0	1400	$1,450	$1.04	5d	1	0.33mi
2128 N Pulaski St Baltimore, MD	4.0	3.0	2166	$2,200	$1.02	45d	1	0.34mi
2405 W North Ave Baltimore, MD	4.0	3.0	1826	$1,900	$1.04	5d	1	0.34mi
2614 Pennsylvania Ave Baltimore, MD	1.0–3.0	1.0–2.0	982	$1,141	$1.16	5d	4	0.37mi
2505 Woodbrook Ave Baltimore, MD	4.0	2.0	1256	$1,745	$1.39	3d	1	0.47mi
1515 Retreat St Baltimore, MD	3.0	2.0	1098	$1,800	$1.64	25d	1	0.50mi
1507 Retreat St Unit 1 Baltimore, MD	3.0	3.0	1098	$2,500	$2.28	45d	1	0.52mi
519 Sanford Pl Baltimore, MD	3.0	1.0	1300	$1,650	$1.27	17d	1	0.52mi
2201 Whittier Ave Baltimore, MD	4.0	2.0	1750	$1,700	$0.97	19d	1	0.54mi
2201 Whittier Ave Baltimore, MD	4.0	2.0	1750	$1,700	$0.97	45d	1	0.54mi
2231 Orem Ave Baltimore, MD	3.0	1.5	1140	$1,750	$1.54	18d	1	0.55mi
2301 Riggs Ave Baltimore, MD	3.0	2.0	1072	$1,600	$1.49	25d	1	0.56mi
1914 Mosher St Unit 1914 Baltimore, MD	4.0	2.5	1200	$1,700	$1.42	45d	1	0.56mi
1315 Presstman St Baltimore, MD	4.0	2.0	1700	$2,000	$1.18	45d	1	0.57mi
2409 Francis St Baltimore, MD	3.0	1.0	1298	$1,500	$1.16	45d	1	0.57mi
2301 Whittier Ave Unit 2 Baltimore, MD	2.0	2.0	1104	$1,400	$1.27	45d	1	0.58mi
2301 Whittier Ave Unit 3 Baltimore, MD	2.0	2.0	1104	$1,650	$1.49	45d	1	0.58mi
2301 Whittier Ave Unit 1 Baltimore, MD	2.0	1.0	1104	$1,400	$1.27	45d	1	0.58mi
2636 W North Ave Baltimore, MD	2.0–3.0	1.0–2.0	975	$1,475	$1.51	5d	1	0.58mi
1613 Riggs Ave Baltimore, MD	3.0	2.5	1800	$1,800	$1.00	25d	1	0.60mi
2449 Druid Hill Ave Baltimore, MD	2.0	1.0	1100	$1,800	$1.64	45d	1	0.62mi
2433 Druid Hill Ave Baltimore, MD	2.0	2.5	1092	$1,999	$1.83	45d	1	0.62mi
1346 N Carey St Baltimore, MD	2.0	1.5	1100	$1,500	$1.36	45d	1	0.62mi
918 N Bentalou St Baltimore, MD	3.0	1.5	1485	$1,750	$1.18	45d	1	0.65mi
1205 Clendenin St Baltimore, MD	3.0	1.5	1560	$800	$0.51	25d	1	0.67mi
1121 Whitelock St Baltimore, MD	2.0	1.0	1180	$1,300	$1.10	45d	1	0.68mi
2511 Madison Ave #2 Baltimore, MD	3.0	1.0	1100	$1,650	$1.50	45d	1	0.73mi
813 N Fulton Ave Unit 1 Baltimore, MD	2.0	1.0	1200	$1,350	$1.12	45d	1	0.73mi
2028 Druid Hill Ave Unit 1 Baltimore, MD	3.0	2.5	1437	$1,750	$1.22	4d	1	0.74mi
2028 Druid Hill Ave Baltimore, MD	3.0	2.5	1437	$1,799	$1.25	12d	1	0.74mi
2303 Calverton Heights Ave Baltimore, MD	4.0	2.0	1314	$2,250	$1.71	25d	1	0.75mi

Listing history 2 events

1. 2026-04-30
   status Pending
2. 2026-04-17
   listed $15,900 Active

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $21,106
• − Mortgage interest: −$891
• − Property taxes: −$238
• − Insurance: −$80
• − Repairs & maintenance: −$1,688
• − Management: −$1,688
• − Depreciation: −$463
• Taxable income: $16,058
• Est. tax owed @ 24.0%: −$3,854
• After-tax cash flow: $11,501/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 City Public Schools
• NCES district ID: 2400090
• Math proficiency: 7% ▼ -9.00%
• Reading proficiency: 16% ▼ -5.00%
• Median HH income: $42,108
• Composite: 10.08/100
• National rank: #9805
• State rank: #24 of 24 in MD

Livability — Baltimore

• Score: 76/100
• State rank: #90
• US rank: #3396

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Baltimore, MD
• County: Baltimore City · 558,601 people
• City population: 588,727
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 30,792
• Household income: $38,409
• Rent vs Own: 70.0% rent · 30.0% own
• Severe rent burden: 2921.0

Population outlook (Baltimore County) Hauer SSP2

• Today (2025): 624,249 people
• By 2030: 621,541 · -0.4%
• By 2040: 609,756 · -2.3%
• By 2050: 597,249 · -4.3%
• By 2075: 552,236 · -11.5%
• By 2100: 513,934 · -17.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (81%)
• Race & ethnicity: Black 81% White 12% Two or more races 4% Hispanic / Latino 2% Asian 2%
• Common ancestry: Romanian 1% Hispanic 1% Italian 1%
• Foreign-born: 5% · Canada, China, South Korea
• Languages at home: 94% English-only · Spanish 2% French/Haitian/Cajun 1% Chinese 1%

Political lean MEDSL · Baltimore

• 2024 margin: Solid D (+73.0) · D 85.2% · R 12.2% · Other 2.6%
• 2008→2024 swing: -2.5pp toward R · 2008: 75.5pp · 2024: 73.0pp
• All cycles: 2024: D+73.0 2020: D+76.6 2016: D+74.6 2012: D+76.4 2008: D+75.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -187.20%
• Current HPI: 104.2102
• Rent YoY: ▲ 6.63%
• 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

2 events — show timeline

• 2026-04-30 Pending — BRIGHT MLS
• 2026-04-17 Listed $15,900 BRIGHT MLS

Property tax history

+1.1%/yr

Latest (2025): $1,177 · +5.7% YoY. Source: county tax records.