3027 Harlem Ave · Baltimore, MD 21216

$60,000

2 bd · 1.0 ba · 912 sqft · Townhouse public records · 29 Days on market

Built 1920 Est $56k · 8% over

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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 +4.0/15.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

NOT AN AUCTION, NOT A SHORT SALE, NOT A BANK OWNED, NOT A FORECLOSURE, NOT WHOLESALING---QUICK AND EASY. Buyer to pay all transfer and recording fees Minimum $2,000 EMD. Excellent Opportunity . .. use your imagination! Property can be rehabbed for a nice rental investment or homeowner. Property sold "as is". Home Inspections for informational purposes only. Seller will make no repairs. . In addition, this property qualifies for a special 5.75% mortgage program—a rare financing opportunity that makes this high-quality home even more affordable. Ask Listing Agent for details.

Key facts

• Built 1920
• Listed 29 days

Property features AI

Finance

• Other: Annual ground rent listed under income/expense
• Financial info: Ownership interest: ground rent; Land assessed separately from improvements

Exterior

• Utilities: Public water; Public sewer
• Home design: Interior townhouse/rowhouse; Finished above-grade living area (912 finished area, per assessor)
• Construction: Brick/mortar foundation; Above-grade and below-grade structures; Year built sourced from assessor
• Exterior features: Not in a federal flood zone; Ground rent exists (semi-annual payment of $120); No tidal water

Interior

• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Forced air heating; Hot water provided by electric system
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $60k.

Deal economics

• At list price, monthly cash flow is $628 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• Cap rate 18.9% 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: 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 fast (+6.1%/yr); 252 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); 40% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 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 + 6.1% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y 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: property tax is 3.2% of price; built in 1920 — 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 $59,100 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 2.38% ✓
• Cap rate: 18.85%
• Cash-on-cash: 44.86%
• DSCR: 3.00
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $55,632
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3005 Harlem Ave	0.03mi	2/2.0	912 (0%)	3mo	$50,000	$55	92
2863 W Lanvale St	0.18mi	2/1.0	864 (-5%)	3mo	$56,000	$65	80
910 N Dukeland St	0.31mi	2/1.0	960 (+5%)	4mo	$31,000	$32	73
3302 W Franklin St	0.36mi	3/1.0 (+1)	960 (+5%)	2mo	$50,000	$52	68
2507 Riggs Ave	0.63mi	2/1.0	896 (-2%)	4mo	$45,100	$50	64
3306 W Franklin St	0.36mi	3/2.0 (+1)	960 (+5%)	2mo	$51,500	$54	64
2534 W Franklin St	0.56mi	3/1.0 (+1)	928 (+2%)	5mo	$24,000	$26	62
335 N Grantley St	0.56mi	2/2.0	840 (-8%)	2mo	$85,000	$101	55
2952 Presstman St	0.63mi	3/1.0 (+1)	980 (+8%)	1mo	$60,000	$61	52
3315 Presstman St	0.65mi	2/1.0	988 (+8%)	5mo	$110,000	$111	52
119 Hilton St	0.64mi	2/2.0	1,040 (+14%)	0mo	$211,000	$203	43
23 N Morley St	0.66mi	3/1.0 (+1)	1,041 (+14%)	6mo	$85,000	$82	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 · 6.1% rent growth · sell at horizon

5-year hold

• IRR: 45.7%
• Equity multiple: 3.08×
• Total profit: $34,936
• Equity at exit: $8,946

10-year hold

• IRR: 53.0%
• Equity multiple: 7.09×
• Total profit: $102,279
• Equity at exit: $5,188

Cash invested: $16,800 (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 21216

• Rents YoY: 6.1%
• Active inventory: 252
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,426 high
• Mortgage (P&I): −$315
• Tax from tax record: −$159 /mo · $1,905/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $628

Break-even live

Break-even rent $631

Max offer price $60,000

Occupancy floor 51%

Sensitivity live

Price	-10% $662	-5% $645	+0% $628	+5% $611	+10% $594
Rent	-10% $515	-5% $572	+0% $628	+5% $684	+10% $741
Rate	-1.0pp $658	-0.5pp $643	base $628	+0.5pp $612	+1.0pp $597

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
709 Denison St Baltimore, MD	2.0	2.0	840	$1,630	$1.94	25d	1	0.30mi
1042 Ellicott Dr Baltimore, MD	2.0	1.0	900	$1,450	$1.61	45d	1	0.31mi
787 N Grantley St Baltimore, MD	3.0	1.0	1116	$1,575	$1.41	25d	1	0.40mi
600 Linnard St Baltimore, MD	1.0	1.0	600	$1,300	$2.17	45d	1	0.48mi
3607 W Lexington St Baltimore, MD	3.0	2.0	1050	$1,895	$1.80	6d	1	0.63mi
3706 W Franklin St Unit 1 Baltimore, MD	2.0	1.0	735	$1,100	$1.50	6d	1	0.63mi
3310 Elbert St Baltimore, MD	2.0	1.0	920	$1,550	$1.68	25d	1	0.67mi
3127 Baker St Baltimore, MD	3.0	1.0	1000	$1,300	$1.30	45d	1	0.67mi
2301 Riggs Ave Baltimore, MD	3.0	2.0	1072	$1,600	$1.49	25d	1	0.81mi
2516 Hollins St Baltimore, MD	3.0	2.0	1100	$1,700	$1.55	45d	1	0.86mi
3003 W North Ave Baltimore, MD	1.0–2.0	1.0	841	$935	$1.11	3d	3	0.88mi
62 N Gorman Ave Baltimore, MD	3.0	2.0	1100	$2,500	$2.27	19d	1	0.90mi
1307 Wildwood Pkwy Baltimore, MD	2.0	1.0	725	$1,295	$1.79	45d	1	0.90mi
4103 Mountwood Rd Baltimore, MD	3.0	2.0	1030	$1,700	$1.65	45d	1	0.93mi
4103 Stokes Dr Apt 1 Baltimore, MD	2.0	1.0	725	$1,095	$1.51	45d	1	0.98mi
1216 N Augusta Ave Baltimore, MD	3.0	1.0	1024	$1,550	$1.51	25d	1	0.99mi
1617 Moreland Ave Baltimore, MD	2.0	1.0	900	$1,450	$1.61	25d	1	1.00mi
2636 W North Ave Baltimore, MD	2.0–3.0	1.0–2.0	975	$1,300	$1.33	6d	1	1.03mi
332 S Franklintown Rd Unit 2 Baltimore, MD	2.0	1.0	776	$795	$1.02	25d	1	1.05mi
2540 Frederick Ave Baltimore, MD	3.0	1.0	1075	$1,400	$1.30	25d	1	1.08mi
3508 Clifton Ave Unit A1 Baltimore, MD	1.0	1.0	600	$899	$1.50	4d	1	1.15mi
2826 Windsor Ave Unit A5 Baltimore, MD	1.0	1.0	600	$999	$1.67	25d	1	1.15mi
3017 Poplar Ter Baltimore, MD	2.0	1.0	880	$1,349	$1.53	25d	1	1.15mi
3514 Clifton Ave Baltimore, MD	2.0	1.0	925	$1,199	$1.30	45d	1	1.17mi
3514 Clifton Ave Unit 21 Baltimore, MD	2.0	1.0	925	$1,150	$1.24	45d	1	1.17mi
4018 Massachusetts Ave Baltimore, MD	3.0	1.0	1050	$1,400	$1.33	25d	1	1.18mi
2657 Lehman St Unit 1 Baltimore, MD	2.0	1.0	1056	$1,000	$0.95	45d	1	1.21mi
1918 W Baltimore St Baltimore, MD	2.0–3.0	1.0–2.0	857	$1,375	$1.60	45d	1	1.22mi
3407 Elgin Ave Unit 5 Baltimore, MD	2.0	1.0	800	$1,250	$1.56	45d	1	1.22mi
2 S Woodington Rd Baltimore, MD	2.0	1.0	856	$1,160	$1.36	16d	1	1.23mi
2 S Woodington Rd Baltimore, MD	1.0	1.0	620	$1,310	$2.11	45d	1	1.23mi
2 S Woodington Rd Baltimore, MD	1.0	1.0	620	$1,135	$1.83	6d	1	1.23mi
2 N Woodington Rd Baltimore, MD	1.0–2.0	1.0	738	$1,335	$1.81	4d	5	1.23mi
2210 Roslyn Ave Unit 8 Baltimore, MD	1.0	1.0	600	$975	$1.62	4d	1	1.28mi
4215 Connecticut Ave Baltimore, MD	1.0	1.0	625	$950	$1.52	25d	1	1.29mi
304 Collins Ave Unit 1 Baltimore, MD	1.0	1.0	845	$1,600	$1.89	45d	1	1.33mi
304 Collins Ave Unit 2 Baltimore, MD	3.0	1.0	1016	$2,100	$2.07	45d	1	1.33mi
4520 Scarlet Oak Ln Baltimore, MD	2.0	1.0	1025	$1,500	$1.46	45d	1	1.34mi
1722 N Monroe St Baltimore, MD	3.0	1.5	1000	$1,350	$1.35	25d	1	1.36mi
1930 N Payson St Baltimore, MD	2.0	2.0	980	$1,500	$1.53	25d	1	1.39mi

Listing history 19 events

1. 2026-06-21
   days on market $60,000 Active 29 DOM
2. 2026-06-18
   days on market $60,000 Active 26 DOM
3. 2026-06-17
   days on market $60,000 Active 25 DOM
4. 2026-06-16
   days on market $60,000 Active 24 DOM
5. 2026-06-15
   days on market $60,000 Active 23 DOM
6. 2026-06-13
   days on market $60,000 Active 21 DOM
7. 2026-06-09
   days on market $60,000 Active 17 DOM
8. 2026-06-08
   days on market $60,000 Active 16 DOM
9. 2026-06-07
   days on market $60,000 Active 15 DOM
10. 2026-06-04
    days on market $60,000 Active 12 DOM
11. 2026-06-03
    days on market $60,000 Active 11 DOM
12. 2026-06-02
    days on market $60,000 Active 10 DOM
13. 2026-06-01
    days on market $60,000 Active 9 DOM
14. 2026-05-31
    days on market $60,000 Active 8 DOM
15. 2026-05-23
    listed $60,000 Active
16. 2018-11-15
    soldstatus $355,000
17. 2018-11-02
    soldstatus $6,500
18. 2018-11-02
    listed $6,500
19. 1990-12-03
    soldstatus $10,500

ⓘ 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: $1,905 · $159/mo
• Projected year-2 tax: $1,905 · $159/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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,110
• − Mortgage interest: −$3,361
• − Property taxes: −$1,905
• − Insurance: −$300
• − Repairs & maintenance: −$1,369
• − Management: −$1,369
• − Depreciation: −$1,745
• Taxable income: $7,061
• Est. tax owed @ 24.0%: −$1,695
• After-tax cash flow: $5,842/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): 29,426
• Household income: $42,031
• Rent vs Own: 49.8% rent · 50.2% own
• Severe rent burden: 2264.0

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 (91%)
• Race & ethnicity: Black 91% Hispanic / Latino 4% Two or more races 3% White 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3% 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: ▼ -107.42%
• Current HPI: 164.3933
• Rent YoY: ▲ 6.10%
• 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

+471.4% since first listed

5 events — show timeline

• 2026-05-23 Listed $60,000 BRIGHT MLS
• 2018-11-15 Sold (Public Records) $355,000 Public Records
• 2018-11-02 Listed $6,500 BRIGHT MLS
• 2018-11-02 Sold (MLS) $6,500 BRIGHT MLS
• 1990-12-03 Sold (Public Records) $10,500 Public Records

Property tax history

+5.6%/yr

Latest (2025): $1,905 · +12.2% YoY. Source: county tax records.