1146 Monroe Cir · Baltimore, MD 21225

$130,000

3 bd · 2.0 ba · 1,280 sqft · Townhouse public records · 22 Days on market

Built 1959 Est $188k · 31% under

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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 +29.8/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 1146 Monroe Circle! All brick End Unit townhome property with Tenant in place paying $1,040/month, ideal for investors seeking immediate cash flow. Solid rental opportunity in a convenient location. Sold As-Is with tenant to remain in possession; no showings at this time, and contracts subject to viewing after ratification or tenant vacating. Sale is being handled by the Estate, any and ALL offers will be considered. The Estate is also offering 1101 Pelham Wood Rd, 2212 Ellen Ave, and 1311 Limit Ave, great properties to add to your rental portfolio!

Key facts

• Built 1959
• Listed 22 days

Property features AI

Finance

• Other: Fee simple ownership

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas heating and hot water
• Home design: End of Row/Townhouse design; Located in city limits (Baltimore City)
• Construction: Brick construction; Brick/mortar foundation
• Exterior features: End of row townhouse; Basement present (other description); Above-grade and below-grade structures

Interior

• Kitchen: Efficiency kitchen
• Bedrooms: One bedroom on the main level; Two bedrooms on the first upper level
• Bathrooms: Two full bathrooms (one on the main level, one on the first upper level)
• Heating & cooling: Forced air heating; Natural gas hot water
• Interior features: Efficiency kitchen

🏷️ Possibly a rental listed for sale. The $130,000 price doesn't fit this home's estimated sale value (~$188,160) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $130k.

Deal economics

• At list price, monthly cash flow is $479 ($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 10.7% 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 (+4.1%/yr); 165 active listings in the ZIP; 27 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 39% of the median local income ($54k/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 $899 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 + 4.1% rent growth), your $36k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 19y 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.
• Current owner paid $75k; list at $130k implies a 73% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1959 — 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 $128,050 (1.5% below list)

Questions for the listing agent

1. Built in 1959 — 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: 1.35% ✓
• Cap rate: 10.71%
• Cash-on-cash: 15.79%
• DSCR: 1.70
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $188,160
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3614 Saint Margaret	0.21mi	4/2.0 (+1)	1,265 (-1%)	0mo	$185,000	$146	83
1614 Popland	0.28mi	4/2.0 (+1)	1,236 (-3%)	0mo	$220,000	$178	76
1326 Cypress St	0.53mi	3/1.5	1,254 (-2%)	1mo	$226,000	$180	69
3511 6th St	0.65mi	2/2.0 (-1)	1,294 (+1%)	2mo	$140,000	$108	61
916 Jack St	0.34mi	3/1.5	1,116 (-13%)	1mo	$145,000	$130	60
516 Arsan Ave	0.74mi	3/3.0	1,294 (+1%)	2mo	$190,000	$147	58
4613 Pennington Ave	0.55mi	2/1.0 (-1)	1,344 (+5%)	2mo	$52,000	$39	55
814 Jack St	0.42mi	4/2.0 (+1)	1,116 (-13%)	1mo	$140,000	$125	53
1509 Filbert St	0.47mi	4/2.0 (+1)	1,428 (+12%)	1mo	$210,000	$147	53
3712 8th St	0.45mi	2/1.5 (-1)	1,088 (-15%)	0mo	$60,000	$55	47
4009 8th St	0.47mi	2/2.5 (-1)	1,088 (-15%)	2mo	$223,000	$205	45
3547 5th St	0.71mi	3/2.5	1,092 (-15%)	3mo	$205,000	$188	38

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 · 4.08% rent growth · sell at horizon

5-year hold

• IRR: 7.9%
• Equity multiple: 1.31×
• Total profit: $11,406
• Equity at exit: $19,383

10-year hold

• IRR: 18.1%
• Equity multiple: 2.58×
• Total profit: $57,464
• Equity at exit: $11,240

Cash invested: $36,400 (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 21225

• Home prices YoY: -31.9%
• Rents YoY: 4.1%
• Active inventory: 165
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,761 high
• Mortgage (P&I): −$682
• Tax from tax record: −$176 /mo · $2,114/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $479

Break-even live

Break-even rent $1,155

Max offer price $130,000

Occupancy floor 68%

Sensitivity live

Price	-10% $553	-5% $516	+0% $479	+5% $442	+10% $405
Rent	-10% $340	-5% $409	+0% $479	+5% $548	+10% $618
Rate	-1.0pp $544	-0.5pp $512	base $479	+0.5pp $445	+1.0pp $411

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1353 Cambria St Brooklyn, MD	3.0	2.0	986	$1,600	$1.62	19d	1	0.12mi
1305 E Patapsco Ave Brooklyn, MD	3.0	1.5	930	$1,650	$1.77	5d	1	0.14mi
3816 W Bay Ave Unit 1 Baltimore, MD	2.0	1.0	1364	$1,155	$0.85	4d	1	0.14mi
1517 Sycamore St Curtis Bay, MD	3.0	1.5	1210	$1,999	$1.65	25d	1	0.19mi
3826 10th St Unit Entire House Baltimore, MD	3.0	2.0	1110	$2,400	$2.16	25d	1	0.24mi
3828 10th St Brooklyn, MD	3.0	2.0	1215	$2,350	$1.93	45d	1	0.24mi
4216 Prudence St Curtis Bay, MD	4.0	3.0	1116	$2,100	$1.88	45d	1	0.29mi
1411 Filbert St Unit 2 Baltimore, MD	2.0	1.0	1428	$1,300	$0.91	45d	1	0.43mi
3840 8th St Brooklyn, MD	3.0	1.5	1088	$1,606	$1.48	5d	1	0.46mi
3822 6th St Brooklyn, MD	3.0	3.0	1580	$1,850	$1.17	25d	1	0.62mi
507 Washburn Ave Brooklyn, MD	3.0	1.5	1024	$2,500	$2.44	21d	1	0.64mi
507 Washburn Ave Brooklyn, MD	3.0	1.5	1024	$2,500	$2.44	5d	1	0.64mi
507 Washburn Ave Brooklyn, MD	3.0	1.5	1024	$2,500	$2.44	25d	1	0.64mi
4201 Audrey Ave Unit 1 Brooklyn, MD	2.0	1.0	1400	$1,350	$0.96	25d	1	0.65mi
3528 6th St Brooklyn, MD	2.0	2.5	1060	$1,500	$1.42	19d	1	0.66mi
4206 Audrey Ave Brooklyn, MD	3.0	3.0	1104	$1,950	$1.77	25d	1	0.67mi
4206 Audrey Ave Brooklyn, MD	2.0	2.0	1104	$1,275	$1.15	45d	1	0.67mi
5215 Wasena Ave Brooklyn, MD	3.0	1.0	1030	$1,650	$1.60	45d	1	0.72mi
3569 4th St Brooklyn, MD	2.0	1.5	1256	$1,200	$0.96	19d	1	0.79mi
3544 4th St Brooklyn, MD	4.0	2.5	1800	$1,940	$1.08	25d	1	0.83mi
4400 4th St Unit BASEMENT Baltimore, MD	2.0	1.0	925	$1,350	$1.46	45d	1	0.86mi
3513 Horton Ave Brooklyn, MD	3.0	1.0	1020	$1,600	$1.57	19d	1	0.86mi
49 Talbott St Brooklyn, MD	2.0	1.0	1300	$1,300	$1.00	25d	1	1.15mi
202 W Edgevale Rd Unit A Baltimore, MD	3.0	1.0	1824	$1,650	$0.90	6d	1	1.27mi
217 W Edgevale Rd Brooklyn, MD	3.0	1.5	992	$1,800	$1.81	25d	1	1.32mi
303 Arden Rd W Brooklyn, MD	3.0	2.0	1388	$2,500	$1.80	19d	1	1.35mi
732 Old Riverside Rd Brooklyn, MD	3.0	2.5	1570	$1,900	$1.21	45d	1	1.50mi

Listing history 13 events

1. 2026-06-21
   days on market $130,000 Active 22 DOM
2. 2026-06-18
   days on market $130,000 Active 19 DOM
3. 2026-06-17
   days on market $130,000 Active 18 DOM
4. 2026-06-16
   days on market $130,000 Active 17 DOM
5. 2026-06-15
   days on market $130,000 Active 16 DOM
6. 2026-06-13
   days on market $130,000 Active 14 DOM
7. 2026-06-09
   days on market $130,000 Active 10 DOM
8. 2026-06-08
   days on market $130,000 Active 9 DOM
9. 2026-06-07
   days on market $130,000 Active 8 DOM
10. 2026-06-04
    days on market $130,000 Active 5 DOM
11. 2026-06-03
    days on market $130,000 Active 4 DOM
12. 2026-06-02
    days on market $130,000 Active 3 DOM
13. 2026-06-01
    days on market $130,000 Active 2 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: $2,114 · $176/mo
• Projected year-2 tax: $2,114 · $176/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 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,129
• − Mortgage interest: −$7,282
• − Property taxes: −$2,114
• − Insurance: −$650
• − Repairs & maintenance: −$1,690
• − Management: −$1,690
• − Depreciation: −$3,782
• Taxable income: $3,921
• Est. tax owed @ 24.0%: −$941
• After-tax cash flow: $4,806/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: Anne Arundel County · 535,653 people
• City population: 588,727
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 34,062
• Household income: $54,020
• Rent vs Own: 50.4% rent · 49.6% own
• Severe rent burden: 1440.0

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 0.68)
• Race & ethnicity: Black 42% White 32% Hispanic / Latino 20% Two or more races 8% Native American 3% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Romanian 2% Lithuanian 1% Iranian 1%
• Foreign-born: 12% · Canada, China
• Languages at home: 81% English-only · Spanish 16% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -119.44%
• Current HPI: 254.5089
• Rent YoY: ▲ 4.08%
• 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

+242.1% since first listed

40 events — show timeline

• 2026-05-30 Listed $130,000 BRIGHT MLS
• 2022-02-01 Sold (Public Records) $75,000 Public Records
• 2014-10-24 Delisted — MRIS
• 2014-10-24 Listing Removed — BRIGHT MLS
• 2014-10-08 Price Changed — MRIS
• 2014-08-10 Price Changed — MRIS
• 2014-07-01 Price Changed — MRIS
• 2014-06-11 Listed — MRIS
• 2014-06-11 Listed $49,900 BRIGHT MLS
• 2013-06-12 Delisted — MRIS
• 2013-06-12 Listing Removed — BRIGHT MLS
• 2013-05-18 Listed — MRIS
• 2013-05-18 Listed $52,900 BRIGHT MLS
• 2010-10-29 Sold (MLS) $36,000 BRIGHT MLS
• 2010-10-29 Sold (MLS) $36,000 MRIS
• 2010-10-08 Pending — MRIS
• 2010-10-06 Listing Removed — BRIGHT MLS
• 2010-09-24 Price Changed $37,900 MRIS
• 2010-08-31 Relisted — MRIS
• 2010-08-12 Pending — MRIS
• 2010-08-09 Delisted — MRIS
• 2010-08-09 Listing Removed — BRIGHT MLS
• 2010-07-31 Listed $39,900 MRIS
• 2010-07-31 Listed $37,900 BRIGHT MLS
• 2010-07-30 Sold (Public Records) $142,855 Public Records
• 2010-06-23 Listed — MRIS
• 2010-06-23 Listed $39,900 BRIGHT MLS
• 2010-01-01 Delisted — MRIS
• 2010-01-01 Listing Removed — BRIGHT MLS
• 2009-07-25 Price Changed — MRIS
• 2009-06-24 Price Changed — MRIS
• 2009-06-02 Listed — MRIS
• 2009-06-02 Listed $80,000 BRIGHT MLS
• 2008-06-17 Sold (Public Records) $145,000 Public Records
• 2007-12-14 Sold (MLS) $145,000 MRIS
• 2007-11-21 Delisted — MRIS
• 2007-10-09 Listed $147,500 MRIS
• 1997-02-28 Sold (Public Records) $69,800 Public Records
• 1990-03-13 Sold (Public Records) $61,200 Public Records
• 1989-10-05 Sold (Public Records) $38,000 Public Records

Property tax history

-0.3%/yr

Latest (2025): $2,114 · +4.5% YoY. Source: county tax records.