1618 N Monroe St · Baltimore, MD 21217

$89,900

3 bd · 1.0 ba · 1,140 sqft · Townhouse · 223 Days on market

Built 1915 1,140 sqft lot $79/sqft · 7% below area Est $97k · 7% under ↓ 9% 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 +10.7/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Why rent when you can own? This home features 3 bedrooms, 1 bathroom, an unfinished basement, a backyard, and a front porch. It’s a turnkey property with a rental license already in place — ready for you to move in or rent out immediately. Whether you’re an investor or a future homeowner, this is an incredible opportunity: why pay rent when you can own for less? Come see it for yourself and imagine the possibilities!

Key facts

• Built 1915
• Listed 223 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $90k.

Deal economics

• At list price, monthly cash flow is $789 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.8% 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 (+6.6%/yr); 331 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• At $1,665/mo this rent would consume 52% of the median local household income ($38k/yr) (locally 2921% 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 $622 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 + 6.6% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 223 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y 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 $79,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 223 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.85% ✓
• Cap rate: 16.82%
• Cash-on-cash: 37.59%
• DSCR: 2.67
• GRM: 4.5

CMA / ARV

• ARV (median comp): $96,672
• List price: $89,900
• Delta: -7.00%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1552 N Fulton Ave	0.11mi	3/1.0	1,113 (-2%)	4mo	$125,000	$112	88
1541 N Pulaski St	0.15mi	3/1.0	1,100 (-4%)	3mo	$115,000	$105	85
1705 N Payson St	0.10mi	3/1.5	1,100 (-4%)	5mo	$38,000	$35	84
1537 N Smallwood St	0.23mi	3/1.5	1,200 (+5%)	3mo	$56,000	$47	76
1603 Clifton Ave	0.37mi	3/1.0	1,100 (-4%)	2mo	$130,000	$118	75
2109 N Fulton Ave N	0.38mi	3/1.0	1,100 (-4%)	4mo	$35,000	$32	73
2418 Etting St	0.47mi	2/1.0 (-1)	1,080 (-5%)	4mo	$53,500	$50	61
2818 Woodbrook Ave	0.50mi	3/1.0	1,232 (+8%)	3mo	$45,500	$37	60
2727 Baker St	0.73mi	3/1.0	1,116 (-2%)	3mo	$125,000	$112	60
2820 Woodbrook Ave	0.50mi	3/1.5	1,232 (+8%)	2mo	$85,000	$69	60
700 Cumberland St	0.31mi	4/2.0 (+1)	1,280 (+12%)	3mo	$107,800	$84	54
2311 Orem Ave	0.66mi	3/1.0	1,284 (+13%)	4mo	$35,000	$27	44

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 · 6.63% rent growth · sell at horizon

5-year hold

• IRR: 37.4%
• Equity multiple: 2.67×
• Total profit: $41,928
• Equity at exit: $13,404

10-year hold

• IRR: 45.6%
• Equity multiple: 6.12×
• Total profit: $128,917
• Equity at exit: $7,773

Cash invested: $25,172 (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 21217

• Rents YoY: 6.6%
• Active inventory: 331
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,665 high
• Mortgage (P&I): −$471
• Tax from tax record: −$18 /mo · $211/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $789

Break-even live

Break-even rent $666

Max offer price $89,900

Occupancy floor 48%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1722 N Monroe St Baltimore, MD	3.0	1.5	1000	$1,350	$1.35	23d	1	0.10mi
1501 N Payson St Baltimore, MD	3.0	1.0	1400	$1,550	$1.11	43d	1	0.14mi
1729 N Fulton Ave Baltimore, MD	3.0	2.0	1081	$1,795	$1.66	43d	1	0.15mi
1433 N Fulton Ave Baltimore, MD	2.0	1.0	1200	$1,500	$1.25	43d	1	0.18mi
1806 N Mount St Baltimore, MD	3.0	3.0	1200	$1,700	$1.42	20d	1	0.21mi
1624 Westwood Ave Baltimore, MD	3.0	2.0	1000	$1,900	$1.90	43d	1	0.25mi
1930 N Payson St Baltimore, MD	2.0	2.0	980	$1,500	$1.53	23d	1	0.28mi
1614 N Calhoun St Baltimore, MD	2.0	1.0	950	$1,300	$1.37	43d	1	0.28mi
1534 N Stricker St Baltimore, MD	2.0	1.5	900	$1,475	$1.64	14d	1	0.32mi
1562 N Woodyear St Baltimore, MD	2.0	1.5	788	$1,325	$1.68	23d	1	0.35mi
2614 Pennsylvania Ave Baltimore, MD	1.0–3.0	1.0–2.0	982	$1,141	$1.16	4d	4	0.35mi
1816 N Bentalou St Baltimore, MD	3.0	2.0	1350	$1,700	$1.26	10d	1	0.36mi
1816 N Bentalou St Baltimore, MD	3.0	2.0	1350	$1,700	$1.26	23d	1	0.36mi
2636 Pennsylvania Ave Baltimore, MD	1.0–2.0	1.0	846	$956	$1.13	23d	4	0.38mi
1617 Moreland Ave Baltimore, MD	2.0	1.0	900	$1,450	$1.61	23d	1	0.40mi
1617-A Moreland Ave Unit 2nd Flr Baltimore, MD	2.0	1.0	1500	$1,400	$0.93	43d	1	0.42mi
519 Sanford Pl Baltimore, MD	3.0	1.0	1300	$1,650	$1.27	16d	1	0.44mi
2204 Clifton Ave Baltimore, MD	3.0	1.0	1400	$1,450	$1.04	4d	1	0.45mi
2505 Woodbrook Ave Baltimore, MD	4.0	2.0	1256	$1,745	$1.39	2d	1	0.45mi
1515 Retreat St Baltimore, MD	3.0	2.0	1098	$1,800	$1.64	23d	1	0.47mi
1914 Mosher St Unit 1914 Baltimore, MD	4.0	2.5	1200	$1,700	$1.42	43d	1	0.48mi
1507 Retreat St Unit 1 Baltimore, MD	3.0	3.0	1098	$2,500	$2.28	43d	1	0.49mi
1346 N Carey St Baltimore, MD	2.0	1.5	1100	$1,500	$1.36	43d	1	0.50mi
2409 Francis St Baltimore, MD	3.0	1.0	1298	$1,500	$1.16	43d	1	0.52mi
2301 Riggs Ave Baltimore, MD	3.0	2.0	1072	$1,600	$1.49	23d	1	0.55mi
2433 Druid Hill Ave Baltimore, MD	2.0	2.5	1092	$1,999	$1.83	43d	1	0.57mi
2449 Druid Hill Ave Baltimore, MD	2.0	1.0	1100	$1,800	$1.64	43d	1	0.57mi
2231 Orem Ave Baltimore, MD	3.0	1.5	1140	$1,750	$1.54	17d	1	0.60mi
2143 Druid Hill Ave Unit 2 Baltimore, MD	2.0	1.0	915	$1,400	$1.53	43d	1	0.61mi
1121 Whitelock St Baltimore, MD	2.0	1.0	1180	$1,300	$1.10	43d	1	0.62mi
918 N Bentalou St Baltimore, MD	3.0	1.5	1485	$1,750	$1.18	43d	1	0.63mi
2301 Whittier Ave Unit 3 Baltimore, MD	2.0	2.0	1104	$1,650	$1.49	43d	1	0.63mi
2301 Whittier Ave Unit 2 Baltimore, MD	2.0	2.0	1104	$1,400	$1.27	43d	1	0.63mi
2301 Whittier Ave Unit 1 Baltimore, MD	2.0	1.0	1104	$1,400	$1.27	43d	1	0.63mi
813 N Fulton Ave Unit 1 Baltimore, MD	2.0	1.0	1200	$1,350	$1.12	43d	1	0.63mi
2028 Druid Hill Ave Baltimore, MD	3.0	2.5	1437	$1,799	$1.25	10d	1	0.64mi
2028 Druid Hill Ave Unit 1 Baltimore, MD	3.0	2.5	1437	$1,750	$1.22	2d	1	0.64mi
834 N Stricker St Baltimore, MD	4.0	1.0	1200	$1,500	$1.25	20d	1	0.66mi
2511 Madison Ave #2 Baltimore, MD	3.0	1.0	1100	$1,650	$1.50	43d	1	0.69mi
2037 McCulloh St Unit 3 Baltimore, MD	2.0	2.0	937	$1,650	$1.76	17d	1	0.69mi

Listing history 29 events

1. 2026-06-18
   days on market $89,900 Active 223 DOM
2. 2026-06-17
   days on market $89,900 Active 222 DOM
3. 2026-06-16
   days on market $89,900 Active 221 DOM
4. 2026-06-15
   days on market $89,900 Active 220 DOM
5. 2026-06-13
   days on market $89,900 Active 218 DOM
6. 2026-06-09
   days on market $89,900 Active 214 DOM
7. 2026-06-08
   days on market $89,900 Active 213 DOM
8. 2026-06-07
   days on market $89,900 Active 212 DOM
9. 2026-06-04
   days on market $89,900 Active 209 DOM
10. 2026-06-03
    days on market $89,900 Active 208 DOM
11. 2026-06-02
    days on market $89,900 Active 207 DOM
12. 2026-06-01
    days on market $89,900 Active 206 DOM
13. 2026-05-31
    days on market $89,900 Active 205 DOM
14. 2026-01-02
    status Active 438-char remark

    Show marketing remark (438 chars)

    Why rent when you can own? This home features 3 bedrooms, 1 bathroom, an unfinished basement, a backyard, and a front porch. It’s a turnkey property with a rental license already in place — ready for you to move in or rent out immediately. Whether you’re an investor or a future homeowner, this is an incredible opportunity: why pay rent when you can own for less? Come see it for yourself and imagine the possibilities!

15. 2025-12-31
    historical 438-char remark

    Show marketing remark (438 chars)

    Why rent when you can own? This home features 3 bedrooms, 1 bathroom, an unfinished basement, a backyard, and a front porch. It’s a turnkey property with a rental license already in place — ready for you to move in or rent out immediately. Whether you’re an investor or a future homeowner, this is an incredible opportunity: why pay rent when you can own for less? Come see it for yourself and imagine the possibilities!

16. 2025-11-05
    listed $89,900 Active 438-char remark

    Show marketing remark (438 chars)

    Why rent when you can own? This home features 3 bedrooms, 1 bathroom, an unfinished basement, a backyard, and a front porch. It’s a turnkey property with a rental license already in place — ready for you to move in or rent out immediately. Whether you’re an investor or a future homeowner, this is an incredible opportunity: why pay rent when you can own for less? Come see it for yourself and imagine the possibilities!

17. 2025-10-31
    historical
18. 2025-10-28
    price $89,900
19. 2025-08-18
    price $105,000
20. 2025-08-14
    historical $1,350
21. 2025-07-22
    listed $120,000 Active
22. 2025-07-10
    listed $1,350
23. 2023-07-07
    soldstatus $120,000
24. 2023-05-12
    historical
25. 2023-05-12
    soldstatus $50,000 Closed
26. 2023-01-03
    status Pending
27. 2022-12-14
    price $75,000
28. 2022-11-10
    price $89,000
29. 2022-10-16
    listed $99,000 Active

ⓘ 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: $211 · $18/mo
• Projected year-2 tax: $596 · $50/mo
• Expected delta: +$384/yr (+$32/mo · 181.8%)

ⓘ 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: $19,977
• − Mortgage interest: −$5,036
• − Property taxes: −$211
• − Insurance: −$450
• − Repairs & maintenance: −$1,598
• − Management: −$1,598
• − Depreciation: −$2,615
• Taxable income: $8,468
• Est. tax owed @ 24.0%: −$2,032
• After-tax cash flow: $7,431/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): 30,792
• Household income: $38,409
• Rent vs Own: 70.0% rent · 30.0% own
• Severe rent burden: 2921.0

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 (81%)
• Race & ethnicity: Black 81% White 12% Two or more races 4% Hispanic / Latino 2% Asian 2%
• Common ancestry: Romanian 1% Hispanic 1% Italian 1%
• Foreign-born: 5% · Canada, China, South Korea
• Languages at home: 94% English-only · Spanish 2% French/Haitian/Cajun 1% 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: ▼ -187.20%
• Current HPI: 104.2102
• Rent YoY: ▲ 6.63%
• 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

-9.2% since first listed

16 events — show timeline

• 2026-01-02 Relisted — BRIGHT MLS
• 2025-12-31 Listing Removed — BRIGHT MLS
• 2025-11-05 Listed $89,900 BRIGHT MLS
• 2025-10-31 Listing Removed — BRIGHT MLS
• 2025-10-28 Price Changed $89,900 BRIGHT MLS
• 2025-08-18 Price Changed $105,000 BRIGHT MLS
• 2025-08-14 Rental Removed $1,350 BRIGHTMLS
• 2025-07-22 Listed $120,000 BRIGHT MLS
• 2025-07-10 Listed for Rent $1,350 BRIGHTMLS
• 2023-07-07 Sold (Public Records) $120,000 Public Records
• 2023-05-12 Listing Removed — BRIGHT MLS
• 2023-05-12 Sold (MLS) $50,000 BRIGHT MLS
• 2023-01-03 Pending — BRIGHT MLS
• 2022-12-14 Price Changed $75,000 BRIGHT MLS
• 2022-11-10 Price Changed $89,000 BRIGHT MLS
• 2022-10-16 Listed $99,000 BRIGHT MLS

Property tax history

-7.8%/yr

Latest (2025): $211 · +0.0% YoY. Source: county tax records.