2431 E Oliver St · Baltimore, MD 21213

$75,000

3 bd · 4.5 ba · 4,550 sqft · Condo public records · 25 Days on market

Built 1920 ↓ 44% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +4.7/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0

Listing remarks

List Price is Opening Bid. Online Auction Only! Bidding begins Wednesday, June 3rd, and ends Monday, June 8, 2026 at 11:30AM. 2431-2433-2435 E. Oliver St. (k/a 2431 E. Oliver St. ) A unique opportunity to acquire a substantial mixed-use style building in the Broadway East neighborhood, currently configured as three connected townhomes with approximately 4,550 sq. ft. above grade per SDAT. Previously operated as a funeral home, the property offers exceptional flexibility for an owner-user, community use, redevelopment, or investment opportunity with income-producing potential. Property is currently vacant and not occupied. The main level features a spacious lobby/entry area, three large gath

Key facts

• 2,940 sq ft lot
• Built 1920
• Listed 25 days

Tags

• SPACIOUS LOBBY ENTRY AREA
• THREE LARGE GATHERING ROOMS
• EXPANSIVE OPEN SPACES
• PRIVATE OUTDOOR PATIO AREA
• OPEN-CONCEPT LIVING AREA
• VERSATILE WALK-THROUGH ROOMS

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Fee simple ownership; Brick construction
• Construction: Brick exterior; Above-grade finished area approximately 4,550; Below-grade unfinished area approximately 2,226; Other structures above and below grade
• Exterior features: No tidal water

Interior

• Bedrooms: Three bedrooms on the first upper level
• Bathrooms: Four full bathrooms; One half bathroom
• Heating & cooling: Natural gas heating; Cooling: other (unspecified); Hot water supplied by natural gas
• Interior features: Unfinished basement; Multiple access exits (2+)

What this means for you Summary

Snapshot

• This is a 3-bed/4.5-bath condo listed at $75k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $74k (1.5% below list) — sets the bar for market timing.
• Cap rate 26.7% 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 (+5.2%/yr); 319 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• At $2,270/mo this rent would consume 53% of the median local household income ($51k/yr) (locally 1868% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $93 of equity ($519 loan paydown + $-426 appreciation (-0.6% local appreciation)).
• Baltimore County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-0.6% appreciation + 5.2% rent growth), your $21k 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 ($74k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $73,875 (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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 3.03% ✓
• Cap rate: 26.69%
• Cash-on-cash: 72.86%
• DSCR: 4.24
• GRM: 2.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.57% appreciation · 5.25% rent growth · sell at horizon

5-year hold

• IRR: 76.9%
• Equity multiple: 4.92×
• Total profit: $82,325
• Equity at exit: $19,672

10-year hold

• IRR: 79.6%
• Equity multiple: 10.84×
• Total profit: $206,634
• Equity at exit: $22,025

Cash invested: $21,000 (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 21213

• Home prices YoY: -0.1%
• Rents YoY: 5.2%
• Active inventory: 319
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $2,270 medium
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$477
• Net cashflow: $1,275

Break-even live

Break-even rent $656

Max offer price $75,000

Occupancy floor 39%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3221 Noble St Unit 4 Baltimore, MD	2.0	2.0	6026	$2,450	$0.41	24d	1	1.22mi
3221 Noble St Unit 3 Baltimore, MD	2.0	2.0	6026	$2,250	$0.37	44d	1	1.22mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-13
   statusdays on market $75,000 Pending 25 DOM
2. 2026-06-09
   days on market $75,000 Active 22 DOM
3. 2026-06-08
   days on market $75,000 Active 21 DOM
4. 2026-06-07
   days on market $75,000 Active 20 DOM
5. 2026-06-04
   days on market $75,000 Active 17 DOM
6. 2026-06-03
   days on market $75,000 Active 16 DOM
7. 2026-06-02
   days on market $75,000 Active 15 DOM
8. 2026-06-01
   days on market $75,000 Active 14 DOM
9. 2026-05-31
   days on market $75,000 Active 13 DOM
10. 2026-05-18
    listed $75,000 Active
11. 2002-10-25
    soldstatus $135,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $27,241
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$375
• − Repairs & maintenance: −$2,179
• − Management: −$2,179
• − Depreciation: −$2,182
• Taxable income: $15,000
• Est. tax owed @ 24.0%: −$3,600
• After-tax cash flow: $11,701/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): 28,058
• Household income: $51,344
• Rent vs Own: 48.0% rent · 52.0% own
• Severe rent burden: 1868.0

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 (86%)
• Race & ethnicity: Black 86% White 6% Hispanic / Latino 4% Two or more races 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -0.57%
• Current HPI: 427.4453
• Rent YoY: ▲ 5.25%
• 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

-44.4% since first listed

2 events — show timeline

• 2026-05-18 Listed $75,000 BRIGHT MLS
• 2002-10-25 Sold (Public Records) $135,000 Public Records

Property tax history

+6.7%/yr

Latest (2012): $4,867 · -9.6% YoY. Source: county tax records.