2106 Ramsay St · Baltimore, MD 21223

$99,000

3 bd · 1.0 ba · 920 sqft · Townhouse · 12 Days on market

Built 1900 Est $74k · 35% over

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Why this score? — see what drove the C+ 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
• Rent growth +4.4/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

This move-in ready three-story row-home at 2106 Ramsay Street in Baltimore’s Carrollton Ridge neighborhood is an outstanding opportunity at just $99,000! Perfectly set up for immediate occupancy, the home features fresh carpet throughout all living areas, providing comfort and a clean, neutral base for your personal style. The main level offers a main level bedroom, dining room and kitchen, while the upper floors include two generously sized bedrooms and a full bathroom. Downstairs, the unfinished basement housing the washer/dryer room. Outside, you’ll enjoy a nice fenced backyard — perfect for relaxing, entertaining, or gardening. Ideal for first-time homebuyers, investor

Key facts

• Main level bedroom
• Public transit
• Unfinished basement

Tags

• FENCED BACKYARD
• UNFINISHED BASEMENT
• MAIN LEVEL BEDROOM
• PUBLIC TRANSIT

Property features AI

Finance

• Other: Improvement and land assessed values listed
• Financial info: Ground rent exists; Annual ground rent listed in income/expense information

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; Natural gas heating fuel; 60+ gallon hot water tank
• Home design: Interior townhouse/rowhouse; Ground rent ownership interest
• Construction: Brick construction; Other foundation; Above grade and below grade structures; Year built estimated
• Exterior features: In city limits (Baltimore City); No tidal water

Interior

• Bedrooms: One bedroom on the main level; Two bedrooms on the first upper level
• Bathrooms: One full bathroom (all full bathrooms located on upper level)
• Heating & cooling: Forced air heating; Natural gas cooling fuel
• Interior features: Estimated living area; Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $99k.

Deal economics

• At list price, monthly cash flow is $679 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Cap rate 14.5% 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; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 43% 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 $684 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 + 7.5% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $63k; list at $99k implies a 57% 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 $99,000

Questions for the listing agent

1. Built in 1900 — 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: 1.67% ✓
• Cap rate: 14.52%
• Cash-on-cash: 29.39%
• DSCR: 2.31
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $73,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
308 S Payson St	0.11mi	3/1.0	894 (-3%)	7mo	$25,000	$28	85
420 S Smallwood St	0.07mi	3/3.5	910 (-1%)	4mo	$100,000	$110	81
419 Furrow St	0.09mi	3/1.0	980 (+6%)	6mo	$41,000	$42	80
2130 Eagle St	0.19mi	4/2.0 (+1)	1,000 (+9%)	2mo	$78,110	$78	66
2637 Dulany St	0.46mi	3/1.0	972 (+6%)	6mo	$35,000	$36	64
528 S Bentalou St	0.19mi	4/3.0 (+1)	1,032 (+12%)	0mo	$190,000	$184	57
1910 W Fayette St	0.47mi	3/1.0	1,020 (+11%)	4mo	$39,000	$38	57
305 S Calhoun St	0.61mi	3/1.0	1,008 (+10%)	4mo	$40,000	$40	52
1241 W Lombard St	0.71mi	2/1.0 (-1)	963 (+5%)	3mo	$150,000	$156	52
1239 W Lombard St	0.72mi	2/1.0 (-1)	1,000 (+9%)	3mo	$150,000	$150	45
1226 W Pratt St	0.72mi	2/1.5 (-1)	1,000 (+9%)	2mo	$80,000	$80	44
1246 Glyndon Ave	0.75mi	2/1.5 (-1)	1,008 (+10%)	8mo	$145,000	$144	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 · 7.51% rent growth · sell at horizon

5-year hold

• IRR: 28.6%
• Equity multiple: 2.26×
• Total profit: $35,020
• Equity at exit: $14,761

10-year hold

• IRR: 38.5%
• Equity multiple: 5.38×
• Total profit: $121,435
• Equity at exit: $8,560

Cash invested: $27,720 (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: 5.0×

Monthly cashflow live

• Estimated rent: $1,652 high
• Mortgage (P&I): −$519
• Tax from tax record: −$66 /mo · $795/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $679

Break-even live

Break-even rent $793

Max offer price $99,000

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2540 Frederick Ave Baltimore, MD	3.0	1.0	1075	$1,400	$1.30	24d	1	0.37mi
1918 W Baltimore St Baltimore, MD	2.0–3.0	1.0–2.0	857	$1,434	$1.67	43d	1	0.39mi
332 S Franklintown Rd Unit 2 Baltimore, MD	2.0	1.0	776	$795	$1.02	24d	1	0.41mi
2516 Hollins St Baltimore, MD	3.0	2.0	1100	$1,700	$1.55	43d	1	0.46mi
62 N Gorman Ave Baltimore, MD	3.0	2.0	1100	$2,500	$2.27	18d	1	0.47mi
2657 Lehman St Unit 1 Baltimore, MD	2.0	1.0	1056	$1,000	$0.95	43d	1	0.50mi
1601 Frederick Ave Unit 3 Baltimore, MD	2.0	1.0	1050	$1,050	$1.00	4d	1	0.53mi
305 S Calhoun St Baltimore, MD	2.0	1.0	1000	$1,300	$1.30	22d	1	0.59mi
1324 W Lombard St Unit 2 Baltimore, MD	2.0	1.5	1100	$1,450	$1.32	43d	1	0.65mi
1324 W Lombard St Unit 1 Baltimore, MD	2.0	2.0	1100	$1,500	$1.36	24d	1	0.65mi
1315 Hollins St Unit 2 Baltimore, MD	3.0	2.0	1096	$1,950	$1.78	12d	1	0.68mi
1315 Hollins St Unit 2 Baltimore, MD	3.0	2.0	1096	$1,860	$1.70	4d	1	0.68mi
48 S Carrollton Ave Unit 4 Baltimore, MD	2.0	1.0	670	$1,600	$2.39	43d	1	0.77mi
1432 Carroll St Baltimore, MD	2.0	1.5	912	$1,900	$2.08	43d	1	0.79mi
1215 James St Baltimore, MD	2.0	1.0	960	$1,500	$1.56	43d	1	0.80mi
1142 Sargeant St Baltimore, MD	3.0	2.0	1080	$1,601	$1.48	2d	1	0.86mi
1160 Washington Blvd Baltimore, MD	2.0	1.0	960	$1,575	$1.64	24d	1	0.88mi
1127 Sargeant St Baltimore, MD	2.0	1.5	1080	$1,275	$1.18	24d	1	0.88mi
1163 Washington Blvd Baltimore, MD	2.0	2.5	1012	$1,700	$1.68	12d	1	0.89mi
923 McHenry St Baltimore, MD	3.0	1.0	1008	$1,625	$1.61	43d	1	0.94mi
2815 W Mulberry St Baltimore, MD	4.0	2.0	1040	$2,050	$1.97	43d	1	0.95mi
847 McHenry St Baltimore, MD	2.0	2.0	952	$1,795	$1.89	4d	1	1.00mi
101 N Schroeder St Baltimore, MD	3.0	1.0–2.0	1037	$3,185	$3.07	2d	12	1.02mi
853 Reinhart St Baltimore, MD	2.0	2.5	780	$1,800	$2.31	43d	1	1.04mi
1931 Griffis Ave Baltimore, MD	2.0	1.0	912	$1,349	$1.48	4d	1	1.06mi
1315 Harlem Ave Unit C Baltimore, MD	2.0	1.0	900	$1,425	$1.58	43d	1	1.10mi
1315 Harlem Ave Unit B Baltimore, MD	2.0	1.0	900	$1,425	$1.58	24d	1	1.10mi
805 Washington Blvd Unit B Baltimore, MD	2.0	2.0	1106	$1,650	$1.49	20d	1	1.12mi
805 Washington Blvd Unit A Baltimore, MD	2.0	2.0	1050	$1,650	$1.57	43d	1	1.12mi
1125 Wicomico St Baltimore, MD	3.0	3.0	1068	$1,955	$1.83	24d	1	1.15mi
519 Scott St Unit 1 Baltimore, MD	2.0	2.0	800	$2,000	$2.50	43d	1	1.15mi
1339 W Lafayette Ave #1 Baltimore, MD	2.0	2.0	700	$1,600	$2.29	12d	1	1.22mi
2301 Riggs Ave Baltimore, MD	3.0	2.0	1072	$1,600	$1.49	24d	1	1.23mi
3310 Elbert St Baltimore, MD	2.0	1.0	920	$1,550	$1.68	24d	1	1.27mi
812 S Paca St Baltimore, MD	3.0	2.0	990	$1,500	$1.52	12d	1	1.28mi
638 S Paca St Unit 2404866494 Baltimore, MD	3.0	1.5	1100	$2,200	$2.00	43d	1	1.33mi
3392 Saint Benedict St Baltimore, MD	2.0	1.0	864	$1,450	$1.68	24d	1	1.45mi
617 W Lexington St Baltimore, MD	1.0–2.0	1.0	975	$2,200	$2.26	10d	4	1.46mi
1110 Shields Pl Unit 1129 Baltimore, MD	2.0	1.0	770	$1,100	$1.43	43d	1	1.47mi

Listing history 8 events

1. 2026-06-13
   days on market $99,000 Active 12 DOM
2. 2026-06-09
   days on market $99,000 Active 8 DOM
3. 2026-06-08
   days on market $99,000 Active 7 DOM
4. 2026-06-07
   days on market $99,000 Active 6 DOM
5. 2026-06-04
   days on market $99,000 Active 3 DOM
6. 2026-06-03
   days on market $99,000 Active 2 DOM
7. 2026-06-02
   remarks 681-char remark
8. 2026-06-02
   listed $99,000 Active 1 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: $795 · $66/mo
• Projected year-2 tax: $937 · $78/mo
• Expected delta: +$142/yr (+$12/mo · 17.9%)

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

Taxation est. · year 1

• Rental income: $19,830
• − Mortgage interest: −$5,546
• − Property taxes: −$795
• − Insurance: −$495
• − Repairs & maintenance: −$1,586
• − Management: −$1,586
• − Depreciation: −$2,880
• Taxable income: $6,942
• Est. tax owed @ 24.0%: −$1,666
• After-tax cash flow: $6,480/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

+692.0% since first listed

4 events — show timeline

• 2026-06-01 Listed $99,000 BRIGHT MLS
• 2023-11-16 Sold (Public Records) $63,000 Public Records
• 2008-05-27 Sold (Public Records) $63,000 Public Records
• 1995-09-19 Sold (Public Records) $12,500 Public Records

Property tax history

+6.5%/yr

Latest (2025): $795 · +6.8% YoY. Source: county tax records.