2721 N Calvert St · Baltimore, MD 21218

$329,900

6 bd · 2.5 ba · 2,940 sqft · Townhouse public records · 75 Days on market

Built 1900 $112/sqft · 18% below area Est $400k · 18% under

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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).

• ARV discount +15.0/15.0
• Cash flow +11.4/30.0
• 1% rule +4.3/10.0
• Livability +3.8/5.0
• DSCR +3.3/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming home located in the sought after community of Charles Village. This home is large and has ample space. Separate dining room. Unfinished basement for storage or added living space. Fenced in rear yard. Close to schools, shopping and transportation. Don't miss out on the opportunity to own this home!

Key facts

• Close to schools
• Separate dining room
• Unfinished basement

Tags

• SEPARATE DINING ROOM
• UNFINISHED BASEMENT
• FENCED IN REAR YARD
• CLOSE TO SCHOOLS
• CLOSE TO SHOPPING
• CLOSE TO TRANSPORTATION

What this means for you Summary

Snapshot

• This is a 6-bed/2.5-bath townhouse listed at $330k.

Deal economics

• At list price, monthly cash flow is $-117 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $309k (6.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $306k (7.2% below list).
• Recommended offer: $306k (7.2% below list) — sets the bar for 1% rule.

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: 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.
• Zoned schools: Elmer A. Henderson: A Johns Hopkins Partnership (math 2% / reading 16%, grade F, #650 of 860 statewide, top 77%, 642 students, 80% FRL); Baltimore Polytechnic Institute (math 71% / reading 84%, grade A-, #22 of 222 statewide, top 10%, 1,555 students, 43% FRL) — zoned schools average 62% FRL vs 79% district-wide (17 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 43% at this address vs 12% district-wide (+32 pts) — the actual schools serving this property are materially stronger than the Baltimore City Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+1.6%/yr); 330 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• At $3,063/mo this rent would consume 59% of the median local household income ($62k/yr) (locally 2564% 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 $2k of loan paydown is wiped out by about $10k 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.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($310k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $130k (28%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $133k; list at $330k implies a 148% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $306,261 (7.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
9. 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.
10. 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.
11. 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: 0.93% ✗
• Cap rate: 5.87%
• Cash-on-cash: -1.52%
• DSCR: 0.93
• GRM: 9.0

CMA / ARV

• ARV (median comp): $400,205
• List price: $329,900
• Delta: -17.57%
• 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
2905 Saint Paul St	0.16mi	6/2.5	3,000 (+2%)	5mo	$410,000	$137	85
2838 Saint Paul St	0.15mi	5/3.0 (-1)	2,758 (-6%)	4mo	$549,000	$199	72
3022 Guilford Ave	0.27mi	6/3.5	2,824 (-4%)	10mo	$548,000	$194	68
2704 Maryland Ave	0.25mi	6/3.5	2,738 (-7%)	7mo	$345,000	$126	67
2824 Maryland Ave	0.27mi	6/3.5	2,646 (-10%)	1mo	$525,000	$198	66
2426 N Calvert St	0.30mi	5/4.0 (-1)	2,832 (-4%)	8mo	$466,400	$165	63
2738 Saint Paul St	0.10mi	5/2.0 (-1)	3,366 (+14%)	3mo	$470,000	$140	61
3039 Saint Paul St	0.30mi	6/4.0	2,728 (-7%)	8mo	$395,000	$145	61
2944 Guilford Ave	0.22mi	5/2.5 (-1)	2,688 (-9%)	14mo	$380,000	$141	59
325 E 22nd St	0.50mi	5/3.5 (-1)	2,750 (-6%)	7mo	$395,000	$144	51
3409 Oakenshaw Pl	0.66mi	5/2.5 (-1)	3,117 (+6%)	8mo	$530,125	$170	47
2442 N Calvert St	0.27mi	5/4.5 (-1)	3,344 (+14%)	13mo	$544,700	$163	41

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: -20.5%
• Equity multiple: 0.30×
• Total profit: $-64,861
• Equity at exit: $49,189

10-year hold

• IRR: -17.2%
• Equity multiple: 0.11×
• Total profit: $-81,860
• Equity at exit: $28,524

Cash invested: $92,372 (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: 330
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $3,063 high
• Mortgage (P&I): −$1,730
• Tax from tax record: −$669 /mo · $8,026/yr
• Insurance: −$137
• HOA: −$0
• Vacancy / Maint / Mgmt: −$643
• Net cashflow: $-117

Break-even live

Break-even rent $3,211

Max offer price $309,260

Occupancy floor 99%

Sensitivity live

Price	-10% $70	-5% $-23	+0% $-117	+5% $-210	+10% $-304
Rent	-10% $-359	-5% $-238	+0% $-117	+5% $4	+10% $125
Rate	-1.0pp $49	-0.5pp $-33	base $-117	+0.5pp $-202	+1.0pp $-289

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 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
313 E 25th St Baltimore, MD	5.0	2.5	2350	$2,550	$1.09	25d	1	0.24mi
3010 Guilford Ave Baltimore, MD	5.0	2.5	2174	$3,980	$1.83	12d	1	0.27mi
445 E 22nd St Baltimore, MD	6.0	4.5	3100	$3,900	$1.26	45d	1	0.51mi
3421 University Pl Baltimore, MD	5.0	2.0	1960	$3,500	$1.79	25d	1	0.65mi
719 E 20th St Baltimore, MD	5.0	3.5	2060	$3,000	$1.46	25d	1	0.68mi
719 E 20th St Baltimore, MD	5.0	3.0	2060	$2,400	$1.17	3d	1	0.68mi
727 Reservoir St Baltimore, MD	6.0	3.0	3428	$3,000	$0.88	19d	1	1.00mi

Listing history 23 events

1. 2026-06-21
   days on market $329,900 Active 75 DOM
2. 2026-06-18
   days on market $329,900 Active 72 DOM
3. 2026-06-17
   days on market $329,900 Active 71 DOM
4. 2026-06-16
   days on market $329,900 Active 70 DOM
5. 2026-06-15
   days on market $329,900 Active 69 DOM
6. 2026-06-13
   days on market $329,900 Active 67 DOM
7. 2026-06-09
   days on market $329,900 Active 63 DOM
8. 2026-06-08
   days on market $329,900 Active 62 DOM
9. 2026-06-07
   pricedays on market $329,900 Active 61 DOM
10. 2026-06-04
    days on market $399,900 Active 58 DOM
11. 2026-06-03
    days on market $399,900 Active 57 DOM
12. 2026-06-02
    days on market $399,900 Active 56 DOM
13. 2026-06-01
    days on market $399,900 Active 55 DOM
14. 2026-05-31
    days on market $399,900 Active 54 DOM
15. 2026-05-05
    price $399,900 308-char remark

    Show marketing remark (308 chars)

    Charming home located in the sought after community of Charles Village. This home is large and has ample space. Separate dining room. Unfinished basement for storage or added living space. Fenced in rear yard. Close to schools, shopping and transportation. Don't miss out on the opportunity to own this home!

16. 2026-04-08
    price $419,900 308-char remark

    Show marketing remark (308 chars)

    Charming home located in the sought after community of Charles Village. This home is large and has ample space. Separate dining room. Unfinished basement for storage or added living space. Fenced in rear yard. Close to schools, shopping and transportation. Don't miss out on the opportunity to own this home!

17. 2026-04-07
    listed $459,900 Active 308-char remark

    Show marketing remark (308 chars)

    Charming home located in the sought after community of Charles Village. This home is large and has ample space. Separate dining room. Unfinished basement for storage or added living space. Fenced in rear yard. Close to schools, shopping and transportation. Don't miss out on the opportunity to own this home!

18. 2026-04-06
    historical
19. 2026-02-26
    price $419,900
20. 2026-01-28
    price $439,900
21. 2025-12-30
    price $449,900
22. 2025-11-28
    listed $459,900 Active
23. 1990-08-28
    soldstatus $133,000

ⓘ 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: $8,026 · $669/mo
• Projected year-2 tax: $8,026 · $669/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 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 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,751
• − Mortgage interest: −$18,480
• − Property taxes: −$8,026
• − Insurance: −$1,650
• − Repairs & maintenance: −$2,940
• − Management: −$2,940
• − Depreciation: −$9,597
• Taxable loss: −$6,881
• Est. tax savings @ 24.0%: +$1,651
• After-tax cash flow: $249/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

+200.7% since first listed

9 events — show timeline

• 2026-05-05 Price Changed $399,900 BRIGHT MLS
• 2026-04-08 Price Changed $419,900 BRIGHT MLS
• 2026-04-07 Listed $459,900 BRIGHT MLS
• 2026-04-06 Listing Removed — BRIGHT MLS
• 2026-02-26 Price Changed $419,900 BRIGHT MLS
• 2026-01-28 Price Changed $439,900 BRIGHT MLS
• 2025-12-30 Price Changed $449,900 BRIGHT MLS
• 2025-11-28 Listed $459,900 BRIGHT MLS
• 1990-08-28 Sold (Public Records) $133,000 Public Records

Property tax history

+0.7%/yr

Latest (2025): $8,026 · +5.8% YoY. Source: county tax records.