604 N Curley St · Baltimore, MD 21205

$69,900

3 bd · 1.0 ba · 1,040 sqft · Townhouse public records · 25 Days on market

Built 1915

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

Listing remarks MLS

INVESTMENT OPPORTUNITY! Light renovation needed to bring this property back to its glory days! Open main level with a spacious living room and a large eat in kitchen, upper level with 3 bedrooms and 1 full bath, and an unfinished basement with laundry that's perfect for storage. Great opportunity to update and resell or add to your rental portfolio. Sold As-Is! Buyer responsible for clearing any vacant property notice after settlement if one exists.

Key facts

• Built 1915
• Listed 24 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $70k.

Deal economics

• At list price, monthly cash flow is $963 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $69k (1.5% below list) — sets the bar for market timing.
• Cap rate 22.8% 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 fast (+9.9%/yr); 145 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); lower-income renter base — watch delinquency; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• At $1,874/mo this rent would consume 52% of the median local household income ($43k/yr) (locally 966% 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 $483 of loan paydown is wiped out by about $2k 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 + 8.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 18y 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.

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 $68,851 (1.5% below list)

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. 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.
6. 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.
7. 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: 2.68% ✓
• Cap rate: 22.82%
• Cash-on-cash: 59.03%
• DSCR: 3.63
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $156,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
629 N Kenwood Ave	0.09mi	2/1.5 (-1)	1,100 (+6%)	1mo	$76,500	$70	78
735 N Lakewood Ave	0.20mi	3/1.5	970 (-7%)	2mo	$80,000	$82	76
441 N East Ave	0.24mi	3/1.5	976 (-6%)	2mo	$175,000	$179	75
2703 Jefferson St	0.19mi	3/1.0	1,170 (+12%)	2mo	$102,500	$88	69
2712 Ashland Ave	0.26mi	3/1.5	1,164 (+12%)	1mo	$175,000	$150	65
14 S Curley St	0.46mi	2/1.0 (-1)	1,092 (+5%)	1mo	$269,000	$246	64
2736 Mura St	0.52mi	3/2.0	1,120 (+8%)	0mo	$81,000	$72	59
155 N Streeper St	0.28mi	2/2.0 (-1)	912 (-12%)	0mo	$220,000	$241	57
134 N Curley St	0.30mi	2/2.0 (-1)	1,170 (+12%)	1mo	$270,000	$231	56
111 N Highland Ave	0.48mi	3/1.5	1,170 (+12%)	1mo	$105,000	$90	54
410 N Patterson Park Ave	0.52mi	3/1.0	1,180 (+14%)	0mo	$180,000	$153	53
149 N Highland Ave	0.44mi	2/1.0 (-1)	1,170 (+12%)	1mo	$75,000	$64	53

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 63.4%
• Equity multiple: 4.06×
• Total profit: $59,951
• Equity at exit: $10,422

10-year hold

• IRR: 69.6%
• Equity multiple: 10.02×
• Total profit: $176,455
• Equity at exit: $6,044

Cash invested: $19,572 (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 21205

• Home prices YoY: -5.8%
• Rents YoY: 9.9%
• Active inventory: 145
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,874 high
• Mortgage (P&I): −$367
• Tax from tax record: −$122 /mo · $1,468/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $963

Break-even live

Break-even rent $656

Max offer price $69,900

Occupancy floor 44%

Sensitivity live

Price	-10% $1,002	-5% $983	+0% $963	+5% $943	+10% $923
Rent	-10% $815	-5% $889	+0% $963	+5% $1,037	+10% $1,111
Rate	-1.0pp $998	-0.5pp $981	base $963	+0.5pp $945	+1.0pp $926

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
520 N Decker Ave Baltimore, MD	2.0	1.0	1000	$1,650	$1.65	45d	1	0.08mi
2934 E Monument St Baltimore, MD	2.0	1.0	1200	$1,499	$1.25	45d	1	0.09mi
718 N Curley St Baltimore, MD	3.0	3.0	1500	$2,000	$1.33	5d	1	0.12mi
724 N Curley St Baltimore, MD	3.0	3.0	1500	$2,200	$1.47	5d	1	0.13mi
531 N Belnord Ave Baltimore, MD	2.0	1.5	1100	$1,700	$1.55	25d	1	0.14mi
2800 Orleans St Baltimore, MD	3.0	1.0	1404	$1,600	$1.14	16d	1	0.16mi
2800 Orleans St Baltimore, MD	3.0	1.0	1404	$1,600	$1.14	19d	1	0.16mi
2815 E Madison St Baltimore, MD	4.0	2.0	1300	$2,500	$1.92	45d	1	0.16mi
2815 Orleans St Baltimore, MD	2.0	1.0	1204	$1,600	$1.33	3d	1	0.17mi
415 N Belnord Ave Baltimore, MD	2.0	1.0	1008	$1,300	$1.29	25d	1	0.17mi
627 N Lakewood Ave Baltimore, MD	3.0	2.5	1175	$1,900	$1.62	23d	1	0.18mi
404 N Robinson St Baltimore, MD	3.0	3.0	1320	$2,200	$1.67	25d	1	0.20mi
404 N Robinson St Baltimore, MD	3.0	3.0	1320	$2,100	$1.59	17d	1	0.20mi
502 N Glover St Baltimore, MD	2.0	1.5	827	$1,250	$1.51	21d	1	0.23mi
415 N Glover St Baltimore, MD	2.0	2.5	1092	$1,600	$1.47	25d	1	0.24mi
2608 McElderry St Baltimore, MD	3.0	1.0	1144	$1,550	$1.35	25d	1	0.24mi
2729 Ashland Ave Baltimore, MD	3.0	1.0	1000	$1,350	$1.35	4d	1	0.25mi
150 N Curley St Baltimore, MD	2.0	2.5	1266	$1,850	$1.46	19d	1	0.25mi
3304 McElderry St Baltimore, MD	3.0	2.0	1413	$1,900	$1.34	45d	1	0.26mi
203 N Ellwood Ave Unit Main Baltimore, MD	2.0	2.0	880	$2,200	$2.50	25d	1	0.26mi
517 N Rose St Baltimore, MD	3.0	1.0	845	$1,400	$1.66	5d	1	0.29mi
218 N Glover St Baltimore, MD	2.0	2.0	1360	$1,750	$1.29	45d	1	0.29mi
2608 E Fayette St Unit 1 Baltimore, MD	2.0	1.0	900	$1,700	$1.89	16d	1	0.31mi
225 N Luzerne Ave Baltimore, MD	3.0	1.0	1198	$1,350	$1.13	20d	1	0.31mi
139 N Lakewood Ave Unit 1 Baltimore, MD	4.0	2.0	1370	$2,500	$1.82	45d	1	0.31mi
139 N Lakewood Ave Baltimore, MD	4.0	2.5	1370	$2,500	$1.82	45d	1	0.31mi
34 N Linwood Ave Baltimore, MD	2.0	1.5	1288	$2,400	$1.86	25d	1	0.33mi
233 N Rose St Baltimore, MD	2.0	2.5	934	$1,750	$1.87	19d	1	0.34mi
227 N Rose St Baltimore, MD	2.0	4.0	1420	$1,600	$1.13	25d	1	0.34mi
425 N Milton Ave Baltimore, MD	3.0	1.0	1200	$1,525	$1.27	16d	1	0.34mi
127 N Glover St Baltimore, MD	2.0	1.5	1110	$2,100	$1.89	4d	1	0.34mi
3205 Esther Pl Baltimore, MD	2.0	2.0	960	$1,850	$1.93	25d	1	0.35mi
230 N Rose St Baltimore, MD	2.0	1.5	1200	$1,545	$1.29	45d	1	0.35mi
224 N Rose St Baltimore, MD	2.0	2.5	1120	$1,875	$1.67	19d	1	0.35mi
29 N Ellwood Ave Baltimore, MD	3.0	1.5	1100	$2,395	$2.18	25d	1	0.36mi
10 N Streeper St Baltimore, MD	3.0	2.5	1440	$2,500	$1.74	25d	1	0.37mi
402 N Milton Ave Unit 402B Baltimore, MD	2.0	1.0	950	$1,290	$1.36	45d	1	0.37mi
17 N East Ave Baltimore, MD	2.0	2.0	1326	$2,550	$1.92	25d	1	0.39mi
720 N Port St Baltimore, MD	2.0	1.0	950	$1,300	$1.37	45d	1	0.40mi
113 N Clinton St Baltimore, MD	2.0	1.0	1300	$1,995	$1.53	45d	1	0.41mi

Listing history 15 events

1. 2026-06-21
   days on market $69,900 Active 25 DOM
2. 2026-06-18
   days on market $69,900 Active 22 DOM
3. 2026-06-17
   days on market $69,900 Active 21 DOM
4. 2026-06-16
   days on market $69,900 Active 20 DOM
5. 2026-06-15
   days on market $69,900 Active 19 DOM
6. 2026-06-13
   days on market $69,900 Active 17 DOM
7. 2026-06-09
   days on market $69,900 Active 13 DOM
8. 2026-06-08
   days on market $69,900 Active 12 DOM
9. 2026-06-07
   days on market $69,900 Active 11 DOM
10. 2026-06-04
    days on market $69,900 Active 8 DOM
11. 2026-06-03
    days on market $69,900 Active 7 DOM
12. 2026-06-02
    remarks 456-char remark
13. 2026-06-02
    days on market $69,900 Active 6 DOM
14. 2026-06-01
    days on market $69,900 Active 5 DOM
15. 2026-05-31
    days on market $69,900 Active 4 DOM

ⓘ 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: $1,468 · $122/mo
• Projected year-2 tax: $1,468 · $122/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: $22,494
• − Mortgage interest: −$3,915
• − Property taxes: −$1,468
• − Insurance: −$350
• − Repairs & maintenance: −$1,799
• − Management: −$1,799
• − Depreciation: −$2,033
• Taxable income: $11,128
• Est. tax owed @ 24.0%: −$2,671
• After-tax cash flow: $8,883/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): 13,013
• Household income: $43,176
• Rent vs Own: 63.6% rent · 36.4% own
• Severe rent burden: 966.0

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 0.60)
• Race & ethnicity: Black 60% Hispanic / Latino 16% White 14% Two or more races 11% Asian 3%
• Hispanic origin (detail): Mexican 1% Cuban 1% Dominican 4%
• Common ancestry: Slovak 3% Romanian 1%
• Foreign-born: 16% · Canada, China
• Languages at home: 79% English-only · Spanish 11% Arabic 4% 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: ▼ -15.03%
• Current HPI: 244.1345
• Rent YoY: ▲ 9.88%
• 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

+99.7% since first listed

27 events — show timeline

• 2026-05-27 Relisted — BRIGHT MLS
• 2026-05-21 Listed $69,900 BRIGHT MLS
• 2026-05-21 Listing Removed — BRIGHT MLS
• 2024-03-01 Sold (Public Records) $275,000 Public Records
• 2018-09-15 Sold (MLS) $23,500 BRIGHT MLS
• 2018-09-15 Sold (MLS) $23,500 MRIS
• 2018-07-24 Pending — BRIGHT MLS
• 2018-07-24 Pending — MRIS
• 2018-03-19 Relisted — BRIGHT MLS
• 2018-03-19 Relisted — MRIS
• 2018-03-08 Listing Removed — BRIGHT MLS
• 2018-03-08 Delisted — MRIS
• 2018-01-30 Listed $29,900 BRIGHT MLS
• 2018-01-30 Listed $29,900 MRIS
• 2010-01-27 Sold (MLS) $22,000 MRIS
• 2010-01-27 Sold (MLS) $22,000 BRIGHT MLS
• 2009-12-16 Pending — MRIS
• 2009-12-11 Listing Removed — BRIGHT MLS
• 2009-11-23 Listed $24,900 MRIS
• 2009-11-23 Listed $24,900 BRIGHT MLS
• 2009-04-01 Delisted — MRIS
• 2009-01-24 Relisted — MRIS
• 2009-01-02 Delisted — MRIS
• 2008-11-17 Relisted — MRIS
• 2008-10-27 Delisted — MRIS
• 2008-05-28 Listed — MRIS
• 1987-11-18 Sold (Public Records) $35,000 Public Records

Property tax history

-0.4%/yr

Latest (2025): $1,468 · +13.9% YoY. Source: county tax records.