2430 Frederick Ave · Baltimore, MD 21223

$125,000

None bd · 1.0 ba · 1,230 sqft · Townhouse public records · 9 Days on market

Built 1915 1,230 sqft lot $102/sqft · 228% above area ↓ 17% since listing

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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 +29.6/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Rent growth +4.4/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this investors dream. This 2 unit building comes equipped with shampoo bowls and work stations . Sits directly across from major shopping center . This Gem won't last long

Key facts

• 1,230 sq ft lot
• Built 1915
• Listed 9 days

What this means for you Summary

Snapshot

• This is a ?-bed/1.0-bath townhouse listed at $125k.

Deal economics

• At list price, monthly cash flow is $395 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Cap rate 10.6% 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 (+7.5%/yr); 422 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• This rent runs 40% of the median local income ($46k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k 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 + 7.5% rent growth), your $35k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1915 — 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 $125,000

Questions for the listing agent

1. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.23% ✓
• Cap rate: 10.62%
• Cash-on-cash: 15.45%
• DSCR: 1.69
• GRM: 6.8

CMA / ARV

• ARV (median comp): $38,074
• List price: $125,000
• Delta: 228.31%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2544 W Fairmount Ave	0.34mi	2/1.5	1,204 (-2%)	2mo	$55,000	$46	77
2576 W Baltimore St W	0.32mi	3/2.0	1,200 (-2%)	2mo	$152,000	$127	75
2516 W Fairmount Ave	0.33mi	3/1.0	1,304 (+6%)	2mo	$30,000	$23	73
2402 Wilkens Ave	0.29mi	2/1.0	1,092 (-11%)	0mo	$45,000	$41	67
2216 W Fayette St	0.42mi	3/1.5	1,326 (+8%)	1mo	$77,000	$58	64
2435 Lauretta Ave	0.69mi	3/1.0	1,260 (+2%)	1mo	$45,000	$36	63
2408 Wilkens Ave	0.29mi	3/2.0	1,092 (-11%)	2mo	$99,900	$91	62
1933 W Pratt St	0.41mi	4/—	1,365 (+11%)	2mo	$30,000	$22	61
1906 W Saratoga St	0.70mi	3/1.5	1,273 (+4%)	2mo	$155,000	$122	58
2425 Lauretta Ave	0.69mi	5/3.0	1,260 (+2%)	1mo	$205,000	$163	55
5 Rosedale St S	0.73mi	3/2.0	1,280 (+4%)	1mo	$110,000	$86	55
3017 Frederick Ave	0.69mi	4/3.0	1,260 (+2%)	2mo	$217,000	$172	54

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 · 7.51% rent growth · sell at horizon

5-year hold

• IRR: 8.4%
• Equity multiple: 1.35×
• Total profit: $12,177
• Equity at exit: $18,638

10-year hold

• IRR: 21.1%
• Equity multiple: 3.16×
• Total profit: $75,756
• Equity at exit: $10,808

Cash invested: $35,000 (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 21223

• Rents YoY: 7.5%
• Active inventory: 422
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,534 high
• Mortgage (P&I): −$656
• Tax from tax record: −$53 /mo · $642/yr
• Insurance: −$52
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $395

Break-even live

Break-even rent $1,034

Max offer price $125,000

Occupancy floor 69%

Sensitivity live

Price	-10% $466	-5% $430	+0% $395	+5% $360	+10% $324
Rent	-10% $274	-5% $334	+0% $395	+5% $456	+10% $516
Rate	-1.0pp $458	-0.5pp $427	base $395	+0.5pp $363	+1.0pp $330

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
110 S Catherine St Unit 1 Baltimore, MD	2.0	1.0	1330	$1,500	$1.13	44d	1	0.11mi
2540 Frederick Ave Baltimore, MD	3.0	1.0	1075	$1,400	$1.30	24d	1	0.12mi
332 S Franklintown Rd Unit 2 Baltimore, MD	2.0	1.0	776	$795	$1.02	24d	1	0.16mi
307 S Smallwood St Baltimore, MD	2.0	2.5	1400	$1,350	$0.96	44d	1	0.21mi
2537 Hollins St Baltimore, MD	3.0	2.0	1200	$1,450	$1.21	24d	1	0.22mi
2516 Hollins St Baltimore, MD	3.0	2.0	1100	$1,700	$1.55	44d	1	0.23mi
2225 W Baltimore St Baltimore, MD	3.0	2.5	1200	$1,600	$1.33	24d	1	0.30mi
2232 W Baltimore St Baltimore, MD	3.0	1.0	1250	$1,875	$1.50	24d	1	0.31mi
2657 Lehman St Unit 1 Baltimore, MD	2.0	1.0	1056	$1,000	$0.95	44d	1	0.33mi
62 N Gorman Ave Baltimore, MD	3.0	2.0	1100	$2,500	$2.27	18d	1	0.35mi
2671 Saint Benedict St Baltimore, MD	2.0	1.0	1144	$1,325	$1.16	44d	1	0.39mi
514 S Payson St Unit 2 Baltimore, MD	3.0	2.0	1264	$1,750	$1.38	44d	1	0.44mi
2738 Wilkens Ave Baltimore, MD	3.0	1.0	1183	$1,500	$1.27	44d	1	0.49mi
1918 W Baltimore St Baltimore, MD	2.0–3.0	1.0–2.0	857	$1,375	$1.60	44d	1	0.50mi
1912 W Baltimore St Unit 2 Baltimore, MD	2.0	1.5	1200	$2,100	$1.75	24d	1	0.51mi
2737 Wilkens Ave Baltimore, MD	3.0	1.5	1232	$1,650	$1.34	5d	1	0.51mi
1839 W Fayette St Baltimore, MD	3.0	1.5	1426	$1,675	$1.17	24d	1	0.58mi
2012 W Saratoga St Baltimore, MD	3.0	1.0	1300	$1,700	$1.31	24d	1	0.63mi
1635 Frederick Ave Baltimore, MD	3.0	2.0	1224	$1,850	$1.51	44d	1	0.67mi
1846 W Saratoga St Unit 1 Baltimore, MD	2.0	1.0	1250	$1,300	$1.04	44d	1	0.71mi
2609 Lauretta Ave Baltimore, MD	3.0	1.0	1286	$1,675	$1.30	24d	1	0.72mi
1601 Frederick Ave Unit 3 Baltimore, MD	2.0	1.0	1050	$1,050	$1.00	5d	1	0.72mi
2636 Lauretta Ave Baltimore, MD	3.0	2.5	1232	$1,900	$1.54	44d	1	0.75mi
3130 Stafford St Baltimore, MD	3.0	1.0	1200	$1,500	$1.25	21d	1	0.82mi
305 S Calhoun St Baltimore, MD	2.0	1.0	1000	$1,300	$1.30	22d	1	0.85mi
28 N Norris St Baltimore, MD	1.0	2.0	700	$1,450	$2.07	44d	1	0.86mi
1519 Penrose Ave Baltimore, MD	3.0	2.0	1200	$1,875	$1.56	44d	1	0.87mi
1324 W Lombard St Unit 2 Baltimore, MD	2.0	1.5	1100	$1,450	$1.32	44d	1	0.88mi
1324 W Lombard St Unit 1 Baltimore, MD	2.0	2.0	1100	$1,500	$1.36	24d	1	0.88mi
1315 Hollins St Unit 2 Baltimore, MD	3.0	2.0	1096	$1,860	$1.70	5d	1	0.91mi
1315 Hollins St Unit 2 Baltimore, MD	3.0	2.0	1096	$1,950	$1.78	13d	1	0.91mi
10 S Carey St Baltimore, MD	2.0	1.0	1140	$1,550	$1.36	24d	1	0.94mi
3336 W Caton Ave Baltimore, MD	3.0	2.0	1236	$1,625	$1.31	24d	1	0.99mi
104 S Carrollton Ave Baltimore, MD	3.0	4.0	1232	$2,400	$1.95	5d	1	0.99mi
1262 Glyndon Ave Baltimore, MD	2.0	3.0	1258	$1,850	$1.47	24d	1	0.99mi
3310 Elbert St Baltimore, MD	2.0	1.0	920	$1,550	$1.68	24d	1	1.00mi
1303 James St Baltimore, MD	2.0	1.5	1160	$1,350	$1.16	24d	1	1.01mi
1101 S Carey St Baltimore, MD	2.0	2.0	1400	$1,200	$0.86	22d	1	1.03mi
41 N Kossuth St Baltimore, MD	3.0	2.0	1216	$1,800	$1.48	24d	1	1.04mi
918 N Bentalou St Baltimore, MD	3.0	1.5	1485	$1,750	$1.18	44d	1	1.04mi

Listing history 17 events

1. 2026-06-18
   days on market $125,000 Active 9 DOM
2. 2026-06-17
   days on market $125,000 Active 8 DOM
3. 2026-06-16
   days on market $125,000 Active 7 DOM
4. 2026-06-15
   days on market $125,000 Active 6 DOM
5. 2026-06-13
   days on market $125,000 Active 4 DOM
6. 2026-06-10
   days on marketlisting id $125,000 Active 1 DOM
7. 2026-06-09
   days on market $125,000 Active 150 DOM
8. 2026-06-08
   days on market $125,000 Active 149 DOM
9. 2026-06-07
   days on market $125,000 Active 148 DOM
10. 2026-06-04
    days on market $125,000 Active 145 DOM
11. 2026-06-03
    days on market $125,000 Active 144 DOM
12. 2026-06-02
    days on market $125,000 Active 143 DOM
13. 2026-06-01
    days on market $125,000 Active 142 DOM
14. 2026-05-31
    days on market $125,000 Active 141 DOM
15. 2026-03-29
    price $125,000 183-char remark

    Show marketing remark (183 chars)

    Welcome to this investors dream. This 2 unit building comes equipped with shampoo bowls and work stations . Sits directly across from major shopping center . This Gem won't last long

16. 2026-02-03
    price $140,000 183-char remark

    Show marketing remark (183 chars)

    Welcome to this investors dream. This 2 unit building comes equipped with shampoo bowls and work stations . Sits directly across from major shopping center . This Gem won't last long

17. 2026-01-10
    listed $150,000 Active 183-char remark

    Show marketing remark (183 chars)

    Welcome to this investors dream. This 2 unit building comes equipped with shampoo bowls and work stations . Sits directly across from major shopping center . This Gem won't last long

ⓘ 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: $642 · $53/mo
• Projected year-2 tax: $1,002 · $84/mo
• Expected delta: +$360/yr (+$30/mo · 56.1%)

ⓘ 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) · 75% 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,406
• − Mortgage interest: −$7,002
• − Property taxes: −$642
• − Insurance: −$1,292
• − Repairs & maintenance: −$1,472
• − Management: −$1,472
• − Depreciation: −$3,636
• Taxable income: $2,889
• Est. tax owed @ 24.0%: −$693
• After-tax cash flow: $4,047/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): 19,572
• Household income: $45,840
• Rent vs Own: 68.0% rent · 32.0% own
• Severe rent burden: 1755.0

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 (72%)
• Race & ethnicity: Black 72% White 16% Hispanic / Latino 7% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Romanian 1%
• Foreign-born: 8% · Canada
• Languages at home: 90% English-only · Spanish 6% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -97.99%
• Current HPI: 140.5836
• Rent YoY: ▲ 7.51%
• 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

-16.7% since first listed

3 events — show timeline

• 2026-03-29 Price Changed $125,000 BRIGHT MLS
• 2026-02-03 Price Changed $140,000 BRIGHT MLS
• 2026-01-10 Listed $150,000 BRIGHT MLS

Property tax history

+4.0%/yr

Latest (2025): $642 · +6.5% YoY. Source: county tax records.