2642 Kennedy Ave · Baltimore, MD 21218

$129,900

2 bd · 2.0 ba · 2,215 sqft · Townhouse · 20 Days on market

Built 1920 $59/sqft · 46% below area Est $153k · 15% under ↓ 36% 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 +30.0/30.0
• ARV discount +14.4/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 2642 Kennedy Avenue in Baltimore, MD 21218, a mostly renovated 2-bedroom, 2-bath semi-detached home offering updated finishes, flexible living space, and convenient access to some of Northeast Baltimore’s best neighborhood amenities. Located just outside historic Coldstream-Homestead-Montebello, this Federal-style brick home blends classic Baltimore character with refreshed interior spaces designed for everyday comfort. The main level features an inviting living area with LVP flooring and a bright, updated kitchen with white cabinetry, stainless steel appliances, granite countertops, and a center island for casual dining, prep space, or gathering with guests. The layout off

Key facts

• Built 1920
• Listed 20 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $130k.

Deal economics

• At list price, monthly cash flow is $488 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $128k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.8% 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 (+1.6%/yr); 325 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); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• This rent runs 38% of the median local income ($62k/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 $898 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 + 1.6% rent growth), your $36k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 25y ago; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1920 — 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 $127,951 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.51% ✓
• Cap rate: 10.80%
• Cash-on-cash: 16.10%
• DSCR: 1.72
• GRM: 5.5

CMA / ARV

• ARV (median comp): $153,297
• List price: $129,900
• Delta: -15.26%
• 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
2709 The Alameda	0.31mi	3/2.0 (+1)	2,100 (-5%)	13mo	$242,000	$115	61
913 Montpelier St	0.51mi	3/1.5 (+1)	2,100 (-5%)	6mo	$215,000	$102	56
1118 Montpelier St	0.40mi	3/3.5 (+1)	2,033 (-8%)	2mo	$319,900	$157	55
2701 The Alameda	0.31mi	3/3.5 (+1)	2,050 (-7%)	9mo	$200,000	$98	55
1626 E Lafayette Ave	0.71mi	3/2.0 (+1)	2,100 (-5%)	2mo	$219,500	$105	51
1133 Homestead St	0.38mi	2/1.5	1,980 (-11%)	14mo	$170,000	$86	51
2005 Kennedy Ave	0.67mi	3/2.0 (+1)	2,314 (+4%)	6mo	$175,000	$76	51
1816 Chilton St	0.58mi	3/2.0 (+1)	1,922 (-13%)	2mo	$265,000	$138	44
1810 E 31st St	0.50mi	3/2.0 (+1)	1,920 (-13%)	8mo	$275,000	$143	43
926 E 20th St	0.74mi	3/1.5 (+1)	2,085 (-6%)	14mo	$174,900	$84	37
1808 E 30th St	0.45mi	3/2.5 (+1)	1,972 (-11%)	21mo	$230,000	$117	36
2015 E North Ave	0.72mi	2/3.5	2,400 (+8%)	13mo	$157,000	$65	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 · 1.63% rent growth · sell at horizon

5-year hold

• IRR: 5.4%
• Equity multiple: 1.21×
• Total profit: $7,502
• Equity at exit: $19,369

10-year hold

• IRR: 13.5%
• Equity multiple: 2.00×
• Total profit: $36,454
• Equity at exit: $11,231

Cash invested: $36,372 (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 21218

• Rents YoY: 1.6%
• Active inventory: 325
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,957 high
• Mortgage (P&I): −$681
• Tax from tax record: −$323 /mo · $3,875/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$411
• Net cashflow: $488

Break-even live

Break-even rent $1,340

Max offer price $129,900

Occupancy floor 70%

Sensitivity live

Price	-10% $562	-5% $525	+0% $488	+5% $451	+10% $415
Rent	-10% $333	-5% $411	+0% $488	+5% $565	+10% $643
Rate	-1.0pp $553	-0.5pp $521	base $488	+0.5pp $454	+1.0pp $420

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1539 Abbotston St Baltimore, MD	3.0	2.0	1900	$1,899	$1.00	5d	1	0.18mi
1539 Abbotston St Baltimore, MD	3.0	2.0	1800	$1,995	$1.11	44d	1	0.18mi
3213 The Alameda Baltimore, MD	2.0	1.0	1708	$1,295	$0.76	4d	1	0.47mi
902 Gorsuch Ave Baltimore, MD	1.0	1.0	1908	$850	$0.45	44d	1	0.53mi
1923 E 31st St Baltimore, MD	3.0	1.5	2264	$1,600	$0.71	24d	1	0.58mi
519 E 28th St Baltimore, MD	3.0	2.0	1500	$2,000	$1.33	5d	1	0.59mi
1512 E Lafayette Ave Baltimore, MD	3.0	2.5	1476	$1,950	$1.32	44d	1	0.71mi
534 E 23rd St Baltimore, MD	3.0	2.5	1700	$2,350	$1.38	44d	1	0.72mi
424 Ilchester Ave Baltimore, MD	3.0	3.0	1976	$1,800	$0.91	15d	1	0.73mi
1713 E Lafayette Ave Baltimore, MD	1.0	1.0	1800	$1,200	$0.67	44d	1	0.74mi
400 E Lorraine Ave Baltimore, MD	3.0	1.0	1500	$1,800	$1.20	21d	1	0.75mi
402 E 28th St Baltimore, MD	3.0	1.0	1436	$2,200	$1.53	44d	1	0.75mi
1629 N Wolfe St Baltimore, MD	3.0	3.0	1561	$1,800	$1.15	24d	1	0.86mi
307 E 25th St Unit 1st Unit Baltimore, MD	1.0	1.0	1600	$1,550	$0.97	5d	1	0.86mi
324 E 23rd St Baltimore, MD	3.0	1.5	2018	$2,200	$1.09	24d	1	0.88mi
1532 N Broadway Baltimore, MD	3.0	4.0	2696	$2,700	$1.00	3d	1	0.89mi
404 Venable Ave Baltimore, MD	1.0	1.0	1600	$950	$0.59	18d	1	0.93mi
3214 Abell Ave Baltimore, MD	3.0	1.5	2300	$2,800	$1.22	24d	1	0.94mi
1829 N Port St Baltimore, MD	3.0	1.5	2000	$1,625	$0.81	44d	1	0.95mi
1508 Kennewick Rd Baltimore, MD	1.0	1.0	1660	$1,100	$0.66	44d	1	0.96mi
411 E Lafayette Ave Baltimore, MD	3.0	2.5	2450	$2,900	$1.18	24d	1	1.05mi
412 E Lanvale St Baltimore, MD	3.0	2.0	1600	$3,100	$1.94	5d	1	1.07mi
3222 Lyndale Ave Unit 1 Baltimore, MD	3.0	1.5	1500	$2,200	$1.47	13d	1	1.08mi
1827 Guilford Ave Unit G-1809 Baltimore, MD	3.0	3.5	1920	$2,750	$1.43	24d	1	1.08mi
1823 Guilford Ave Unit G-1823 Baltimore, MD	3.0	3.5	1920	$2,750	$1.43	44d	1	1.09mi
1813 Guilford Ave Unit G-1813 Baltimore, MD	3.0	3.5	1920	$2,750	$1.43	44d	1	1.09mi
101 E 33rd St Unit 2 Baltimore, MD	1.0	1.0	2550	$1,500	$0.59	13d	1	1.09mi
1809 Guilford Ave Unit G-1809 Baltimore, MD	3.0	3.5	1920	$2,750	$1.43	44d	1	1.09mi
1807 Guilford Ave Unit G-1807 Baltimore, MD	3.0	3.5	1920	$2,750	$1.43	44d	1	1.10mi
1801 Guilford Ave Baltimore, MD	3.0	3.5	1921	$2,595	$1.35	24d	3	1.10mi
456 E Federal St Baltimore, MD	2.0	2.0	1450	$1,850	$1.28	44d	1	1.10mi
3201 Saint Paul St Baltimore, MD	1.0–2.0	1.5–2.0	1532	$3,200	$2.09	3d	1	1.10mi
437 Pitman Pl Baltimore, MD	2.0	3.0	1520	$1,650	$1.09	5d	1	1.11mi
2522 E Federal St Baltimore, MD	2.0	2.0	1760	$1,400	$0.80	44d	1	1.15mi
3005 Belair Rd Baltimore, MD	3.0	2.0	2000	$1,600	$0.80	18d	1	1.15mi
1643 Guilford Ave Baltimore, MD	3.0	3.5	2273	$3,200	$1.41	44d	1	1.17mi
908 E Preston St Baltimore, MD	3.0	2.0	1560	$1,300	$0.83	44d	1	1.17mi
3501 Saint Paul St Baltimore, MD	3.0	1.0–2.5	916	$2,142	$2.34	2d	172	1.17mi
4006 Loch Raven Blvd Baltimore, MD	3.0	2.5	2016	$2,695	$1.34	18d	1	1.21mi
1824 Saint Paul St Unit 3 Baltimore, MD	2.0	1.0	2397	$1,275	$0.53	44d	1	1.21mi

Listing history 40 events

1. 2026-06-18
   days on market $129,900 Active 20 DOM
2. 2026-06-17
   days on market $129,900 Active 19 DOM
3. 2026-06-16
   days on market $129,900 Active 18 DOM
4. 2026-06-15
   days on market $129,900 Active 17 DOM
5. 2026-06-13
   days on market $129,900 Active 15 DOM
6. 2026-06-09
   days on market $129,900 Active 11 DOM
7. 2026-06-08
   days on market $129,900 Active 10 DOM
8. 2026-06-07
   days on market $129,900 Active 9 DOM
9. 2026-06-04
   days on market $129,900 Active 6 DOM
10. 2026-06-03
    days on market $129,900 Active 5 DOM
11. 2026-06-02
    days on market $129,900 Active 4 DOM
12. 2026-06-01
    days on market $129,900 Active 3 DOM
13. 2026-05-31
    days on market $129,900 Active 2 DOM
14. 2026-05-13
    historical
15. 2026-03-04
    price $129,900
16. 2026-02-20
    listed $149,900 Active
17. 2026-02-16
    historical
18. 2023-08-31
    historical $1,400
19. 2023-08-29
    historical $1,400
20. 2023-08-23
    historical
21. 2023-08-14
    historical
22. 2023-07-30
    listed $1,400
23. 2023-07-29
    listed
24. 2023-02-28
    soldstatus $139,900
25. 2023-01-13
    soldstatus $139,900 Closed
26. 2023-01-05
    status Pending
27. 2022-12-05
    historical Active Under Contract
28. 2022-11-29
    price $139,900
29. 2022-11-02
    listed $149,900 Active
30. 2022-10-27
    historical $149,900
31. 2022-07-21
    soldstatus $65,000
32. 2016-09-30
    historical Withdrawn
33. 2016-09-30
    historical
34. 2016-06-07
    listed Active
35. 2016-06-07
    listed $10,000
36. 2008-03-13
    soldstatus $130,000
37. 2001-12-01
    historical
38. 2001-10-23
    listed
39. 1995-11-02
    soldstatus $332,500
40. 1991-04-08
    soldstatus $202,000

ⓘ 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: $3,875 · $323/mo
• Projected year-2 tax: $3,875 · $323/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 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: $23,489
• − Mortgage interest: −$7,276
• − Property taxes: −$3,875
• − Insurance: −$650
• − Repairs & maintenance: −$1,879
• − Management: −$1,879
• − Depreciation: −$3,779
• Taxable income: $4,150
• Est. tax owed @ 24.0%: −$996
• After-tax cash flow: $4,861/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): 44,014
• Household income: $62,488
• Rent vs Own: 51.9% rent · 48.1% own
• Severe rent burden: 2564.0

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 0.58)
• Race & ethnicity: Black 60% White 26% Two or more races 6% Hispanic / Latino 5% Asian 5%
• Common ancestry: Romanian 2% Italian 1% Scotch-Irish 1%
• Foreign-born: 10% · Canada, China, South Korea
• Languages at home: 87% English-only · Spanish 4% French/Haitian/Cajun 2% Chinese 2%

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: ▼ -463.14%
• Current HPI: 292.3986
• Rent YoY: ▲ 1.63%
• 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

-35.7% since first listed

27 events — show timeline

• 2026-05-13 Listing Removed — BRIGHT MLS
• 2026-03-04 Price Changed $129,900 BRIGHT MLS
• 2026-02-20 Listed $149,900 BRIGHT MLS
• 2026-02-16 Coming Soon — BRIGHT MLS
• 2023-08-31 Rental Removed $1,400 APPFOLIO
• 2023-08-29 Rental Removed $1,400 RENT.
• 2023-08-23 Listing Removed — BRIGHT MLS
• 2023-08-14 Coming Soon — BRIGHT MLS
• 2023-07-30 Listed for Rent $1,400 APPFOLIO
• 2023-07-29 Listed for Rent — RENT.
• 2023-02-28 Sold (Public Records) $139,900 Public Records
• 2023-01-13 Sold (MLS) $139,900 BRIGHT MLS
• 2023-01-05 Pending — BRIGHT MLS
• 2022-12-05 Contingent — BRIGHT MLS
• 2022-11-29 Price Changed $139,900 BRIGHT MLS
• 2022-11-02 Listed $149,900 BRIGHT MLS
• 2022-10-27 Coming Soon $149,900 BRIGHT MLS
• 2022-07-21 Sold (Public Records) $65,000 Public Records
• 2016-09-30 Listing Removed — BRIGHT MLS
• 2016-09-30 Delisted — MRIS
• 2016-06-07 Listed — MRIS
• 2016-06-07 Listed $10,000 BRIGHT MLS
• 2008-03-13 Sold (Public Records) $130,000 Public Records
• 2001-12-01 Delisted — MRIS
• 2001-10-23 Listed — MRIS
• 1995-11-02 Sold (Public Records) $332,500 Public Records
• 1991-04-08 Sold (Public Records) $202,000 Public Records

Property tax history

+30.5%/yr

Latest (2025): $3,875 · +910.2% YoY. Source: county tax records.