117 N Janney St · Baltimore, MD 21224

$98,000

3 bd · 1.0 ba · 858 sqft · Townhouse public records · 67 Days on market

Built 1900 $114/sqft · 24% below area Est $129k · 24% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 117 N Janney St — a well-kept Baltimore rowhome with a functional layout and consistent natural light. The main level offers a straightforward living and dining space that flows into the kitchen, providing practical use for everyday living. Upstairs features comfortable bedrooms and a clean, updated bathroom. The home presents as move-in ready while still offering the opportunity for future improvements. Conveniently situated near major routes, shopping, and neighborhood amenities, making it a solid option for both owner-occupants and investors. The property is sold “AS-IS, WHERE-IS”.

Key facts

• Move-in ready
• Baltimore rowhome
• Natural light

Tags

• BALTIMORE ROWHOME
• FUNCTIONAL LAYOUT
• NATURAL LIGHT
• LIVING AND DINING SPACE
• UPDATED BATHROOM
• MOVE-IN READY

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $98k.

Deal economics

• At list price, monthly cash flow is $820 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $98k).
• Recommended offer: $92k (6.0% below list) — sets the bar for market timing.
• Cap rate 17.0% 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 (+1.3%/yr); 391 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $678 of loan paydown is wiped out by about $3k 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 + 1.3% rent growth), your $27k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $45k; list at $98k implies a 118% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $92,120 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 2.06% ✓
• Cap rate: 17.02%
• Cash-on-cash: 38.30%
• DSCR: 2.70
• GRM: 4.0

CMA / ARV

• ARV (median comp): $129,064
• List price: $98,000
• Delta: -24.07%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
124 N Janney St	0.02mi	2/1.0 (-1)	792 (-8%)	2mo	$63,800	$81	79
223 Grundy St	0.34mi	2/1.0 (-1)	864 (+1%)	5mo	$150,000	$174	74
3919 Mount Pleasant Ave	0.30mi	2/1.0 (-1)	912 (+6%)	7mo	$155,000	$170	64
3516 Mount Pleasant Ave	0.44mi	2/1.0 (-1)	884 (+3%)	7mo	$117,000	$132	63
3405 Mount Pleasant Ave	0.50mi	3/2.5	888 (+4%)	8mo	$162,500	$183	58
3910 Mount Pleasant Ave	0.29mi	3/2.0	963 (+12%)	8mo	$122,000	$127	55
615 N Clinton St	0.61mi	2/1.0 (-1)	920 (+7%)	3mo	$60,500	$66	52
605 N East Ave	0.68mi	2/1.0 (-1)	896 (+4%)	7mo	$53,350	$60	51
441 N East Ave	0.63mi	3/1.5	976 (+14%)	2mo	$175,000	$179	44
255 S Conkling St	0.51mi	2/1.5 (-1)	968 (+13%)	8mo	$229,900	$238	41
447 N Bouldin St	0.59mi	2/1.0 (-1)	976 (+14%)	4mo	$92,500	$95	41
412 N Robinson St	0.68mi	2/1.5 (-1)	960 (+12%)	6mo	$105,000	$109	36

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 · 1.31% rent growth · sell at horizon

5-year hold

• IRR: 29.5%
• Equity multiple: 2.21×
• Total profit: $33,072
• Equity at exit: $14,612

10-year hold

• IRR: 35.8%
• Equity multiple: 4.03×
• Total profit: $83,046
• Equity at exit: $8,473

Cash invested: $27,440 (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 21224

• Rents YoY: 1.3%
• Active inventory: 391
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $2,017 high
• Mortgage (P&I): −$514
• Tax from tax record: −$163 /mo · $1,957/yr
• Insurance: −$41
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $820

Break-even live

Break-even rent $979

Max offer price $98,000

Occupancy floor 54%

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: $24,500
• Closing costs: $2,940
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
223 Grundy St Baltimore, MD	2.0	1.0	864	$1,450	$1.68	24d	1	0.31mi
321 Fagley St Baltimore, MD	2.0	1.0	800	$1,650	$2.06	20d	1	0.43mi
3413 Leverton Ave Baltimore, MD	2.0	1.0	832	$1,000	$1.20	24d	1	0.44mi
3905 Bank St Baltimore, MD	4.0	1.0–3.0	909	$2,820	$3.10	2d	20	0.49mi
4015 Eastern Ave Unit 2L Baltimore, MD	3.0	2.0	1100	$1,800	$1.64	43d	1	0.52mi
3205 Esther Pl Baltimore, MD	2.0	2.0	960	$1,850	$1.93	24d	1	0.59mi
400 S Highland Ave Unit 402 Baltimore, MD	2.0	1.0	900	$1,700	$1.89	43d	1	0.64mi
29 N Ellwood Ave Baltimore, MD	3.0	1.5	1100	$2,395	$2.18	24d	1	0.66mi
203 N Ellwood Ave Unit Main Baltimore, MD	2.0	2.0	880	$2,200	$2.50	24d	1	0.66mi
520 N Decker Ave Baltimore, MD	2.0	1.0	1000	$1,650	$1.65	43d	1	0.77mi
560 Bayview Blvd Baltimore, MD	1.0–3.0	1.0–3.0	1108	$3,372	$3.04	2d	25	0.86mi
3610 Dillon St Baltimore, MD	1.0–2.0	1.0–2.0	828	$2,820	$3.41	43d	1	0.88mi
415 N Belnord Ave Baltimore, MD	2.0	1.0	1008	$1,300	$1.29	24d	1	0.95mi
643 S Potomac St Baltimore, MD	2.0	1.0	785	$1,650	$2.10	43d	1	0.96mi
3850 Boston St Baltimore, MD	2.0	1.0–2.0	854	$3,378	$3.96	2d	22	0.97mi
531 N Belnord Ave Baltimore, MD	2.0	1.5	1100	$1,700	$1.55	24d	1	0.97mi
127 N Glover St Baltimore, MD	2.0	1.5	1110	$2,100	$1.89	2d	1	1.01mi
2608 E Fayette St Unit 1 Baltimore, MD	2.0	1.0	900	$1,700	$1.89	14d	1	1.02mi
415 N Glover St Baltimore, MD	2.0	2.5	1092	$1,600	$1.47	24d	1	1.02mi
3518 Elliott St Baltimore, MD	3.0	2.5	1036	$2,800	$2.70	17d	1	1.04mi
502 N Glover St Baltimore, MD	2.0	1.5	827	$1,250	$1.51	20d	1	1.05mi
456 Elrino St Unit B Baltimore, MD	2.0	1.0	800	$1,600	$2.00	43d	1	1.05mi
2729 Ashland Ave Baltimore, MD	3.0	1.0	1000	$1,350	$1.35	2d	1	1.06mi
3700 Toone St Baltimore, MD	1.0–2.0	1.0–2.0	1093	$3,218	$2.94	1d	28	1.06mi
1200 S Conkling St Baltimore, MD	1.0–2.0	1.0–2.0	1085	$2,933	$2.70	1d	16	1.08mi
233 N Rose St Baltimore, MD	2.0	2.5	934	$1,750	$1.87	17d	1	1.09mi
442 Folcroft St Unit A Baltimore, MD	2.0	1.5	1071	$1,600	$1.49	3d	1	1.09mi
104 N Rose St Baltimore, MD	3.0	2.0	936	$2,500	$2.67	43d	1	1.09mi
224 N Rose St Baltimore, MD	2.0	2.5	1120	$1,875	$1.67	17d	1	1.10mi
1310 N Ellwood Ave #1 Baltimore, MD	2.0	1.0	1000	$1,550	$1.55	21d	1	1.11mi
1310 N Ellwood Ave Baltimore, MD	2.0	1.0	1000	$1,450	$1.45	12d	1	1.11mi
517 N Rose St Baltimore, MD	3.0	1.0	845	$1,400	$1.66	4d	1	1.12mi
363 Gusryan St Baltimore, MD	2.0	2.0	840	$1,950	$2.32	12d	1	1.13mi
402 N Milton Ave Unit 402B Baltimore, MD	2.0	1.0	950	$1,290	$1.36	43d	1	1.15mi
107 N Port St Baltimore, MD	2.0	2.0	870	$1,995	$2.29	24d	1	1.16mi
437 N Montford Ave Baltimore, MD	3.0	1.5	1100	$1,450	$1.32	43d	1	1.21mi
16 N Bradford St Baltimore, MD	2.0	3.5	930	$2,400	$2.58	4d	1	1.25mi
720 N Port St Baltimore, MD	2.0	1.0	950	$1,300	$1.37	43d	1	1.25mi
618 N Montford Ave Baltimore, MD	3.0	1.0	1050	$1,468	$1.40	43d	1	1.26mi
618 N Montford Ave Baltimore, MD	3.0	1.0	1050	$1,468	$1.40	14d	1	1.26mi

Listing history 19 events

1. 2026-06-18
   days on market $98,000 Active 67 DOM
2. 2026-06-17
   days on market $98,000 Active 66 DOM
3. 2026-06-16
   days on market $98,000 Active 65 DOM
4. 2026-06-15
   days on market $98,000 Active 64 DOM
5. 2026-06-13
   days on market $98,000 Active 62 DOM
6. 2026-06-09
   days on market $98,000 Active 58 DOM
7. 2026-06-08
   days on market $98,000 Active 57 DOM
8. 2026-06-07
   days on market $98,000 Active 56 DOM
9. 2026-06-04
   days on market $98,000 Active 53 DOM
10. 2026-06-03
    days on market $98,000 Active 52 DOM
11. 2026-06-02
    days on market $98,000 Active 51 DOM
12. 2026-06-01
    days on market $98,000 Active 50 DOM
13. 2026-05-31
    days on market $98,000 Active 49 DOM
14. 2026-04-12
    listed $98,000 Active 620-char remark

    Show marketing remark (620 chars)

    Welcome to 117 N Janney St — a well-kept Baltimore rowhome with a functional layout and consistent natural light. The main level offers a straightforward living and dining space that flows into the kitchen, providing practical use for everyday living. Upstairs features comfortable bedrooms and a clean, updated bathroom. The home presents as move-in ready while still offering the opportunity for future improvements. Conveniently situated near major routes, shopping, and neighborhood amenities, making it a solid option for both owner-occupants and investors. The property is sold “AS-IS, WHERE-IS”.

15. 2020-11-19
    historical
16. 2020-10-12
    listed $35,000 Active
17. 2007-11-15
    soldstatus $45,000
18. 2007-10-24
    historical
19. 2007-10-04
    listed

ⓘ 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: $1,957 · $163/mo
• Projected year-2 tax: $1,957 · $163/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 7/10 Severe FEMA zone X (unshaded) · 76% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 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 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,205
• − Mortgage interest: −$5,490
• − Property taxes: −$1,957
• − Insurance: −$1,156
• − Repairs & maintenance: −$1,936
• − Management: −$1,936
• − Depreciation: −$2,851
• Taxable income: $8,879
• Est. tax owed @ 24.0%: −$2,131
• After-tax cash flow: $7,711/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): 47,465
• Household income: $89,017
• Rent vs Own: 41.5% rent · 58.5% own
• Severe rent burden: 1786.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 55% Hispanic / Latino 21% Black 16% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2% Dominican 1%
• Common ancestry: Romanian 5% Lithuanian 2% Italian 1%
• Foreign-born: 17% · Canada, China, Vietnam
• Languages at home: 76% English-only · Spanish 18% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -332.23%
• Current HPI: 241.284
• Rent YoY: ▲ 1.31%
• 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

+117.8% since first listed

6 events — show timeline

• 2026-04-12 Listed $98,000 BRIGHT MLS
• 2020-11-19 Listing Removed — BRIGHT MLS
• 2020-10-12 Listed $35,000 BRIGHT MLS
• 2007-11-15 Sold (Public Records) $45,000 Public Records
• 2007-10-24 Delisted — MRIS
• 2007-10-04 Listed — MRIS

Property tax history

+10.1%/yr

Latest (2025): $1,957 · +10.6% YoY. Source: county tax records.