2639 Edmondson Ave · Baltimore, MD 21223

$134,000

2 bd · 1.0 ba · 1,464 sqft · Townhouse public records · 53 Days on market

Built 1920 1,306 sqft lot $92/sqft · 65% above area

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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 +29.2/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Rent growth +4.4/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

THIS IS THE MOST IMPRESSIVE HOME IN THIS PRICE RANGE. REHABBED TO PERFECTION, A COZY PLACE FOR YOUR BUYER, HOME HAS SEVERAL UPGRADES, INCLUDING WHIRLPOOL TUB, UPDATED KITCHENS AND BATH, THIS IS A MOST SEE, WON'T BE LONG BEFORE SOMEONE BEATS YOU TO IT.

Key facts

• Walkout basement
• Whirlpool tub
• Updated kitchen

Tags

• UPDATED KITCHEN
• WHIRLPOOL TUB
• CENTRAL AIR
• WALKOUT BASEMENT
• STRONG RENTAL OPPORTUNITY
• HIGH-DEMAND RENTAL AREA

Property features AI

Finance

• Other: Total below-grade area listed as 844; Above-grade finished area listed as 1,464

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas hot water; Natural gas heating fuel; Electric for central A/C; Cable TV available
• Home design: Interior townhouse/rowhouse; Fee simple ownership; Effective major remodel in 2004
• Construction: Brick construction; Concrete perimeter foundation; Above-grade and below-grade structures; Built year source: Assessor
• Exterior features: Basement with outside entrance and walkout level

Interior

• Kitchen: Kitchen (appliances not specified)
• Bedrooms: Two bedrooms on the first upper level; Rooms include master bedroom and one additional bedroom
• Bathrooms: One full bathroom (total)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Dining area; Additional unspecified interior feature
• Laundry & utility: Basement utility/finished area (details not specified)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $134k.

Deal economics

• At list price, monthly cash flow is $466 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $134k).
• Recommended offer: $130k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.5% 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; 40 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 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 $926 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 + 7.5% rent growth), your $38k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($130k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 23y ago; this cycle's ask has dropped $23k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $70k; list at $134k implies a 91% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: 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 $129,980 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.24% ✓
• Cap rate: 10.47%
• Cash-on-cash: 14.90%
• DSCR: 1.66
• GRM: 6.7

CMA / ARV

• ARV (median comp): $81,117
• List price: $134,000
• Delta: 65.19%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2416 W Franklin St	0.28mi	3/2.0 (+1)	1,435 (-2%)	2mo	$67,000	$47	73
2404 W Lafayette Ave	0.41mi	3/2.0 (+1)	1,476 (+1%)	2mo	$135,000	$91	69
2514 W Lafayette Ave	0.35mi	3/2.0 (+1)	1,560 (+7%)	2mo	$232,000	$149	62
2435 Lauretta Ave	0.26mi	3/1.0 (+1)	1,260 (-14%)	1mo	$45,000	$36	59
3043 Arunah Ave	0.40mi	3/1.0 (+1)	1,314 (-10%)	3mo	$95,000	$72	57
2711 Riggs Ave	0.41mi	3/1.0 (+1)	1,288 (-12%)	2mo	$134,000	$104	54
2516 W Fairmount Ave	0.45mi	3/1.0 (+1)	1,304 (-11%)	2mo	$30,000	$23	54
2649 W Lafayette Ave	0.26mi	3/2.0 (+1)	1,260 (-14%)	3mo	$210,000	$167	53
1083 Ellicott Driveway	0.60mi	3/1.0 (+1)	1,350 (-8%)	3mo	$69,900	$52	51
2216 W Fayette St	0.56mi	3/1.5 (+1)	1,326 (-9%)	1mo	$77,000	$58	50
1906 W Saratoga St	0.70mi	3/1.5 (+1)	1,273 (-13%)	2mo	$155,000	$122	37
5 Rosedale St S	0.74mi	3/2.0 (+1)	1,280 (-13%)	1mo	$110,000	$86	35

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: 10.2%
• Equity multiple: 1.42×
• Total profit: $15,813
• Equity at exit: $19,980

10-year hold

• IRR: 22.5%
• Equity multiple: 3.33×
• Total profit: $87,370
• Equity at exit: $11,586

Cash invested: $37,520 (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: 6.7×

Monthly cashflow live

• Estimated rent: $1,661 high
• Mortgage (P&I): −$703
• Tax from tax record: −$88 /mo · $1,051/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $466

Break-even live

Break-even rent $1,071

Max offer price $134,000

Occupancy floor 67%

Sensitivity live

Price	-10% $542	-5% $504	+0% $466	+5% $428	+10% $390
Rent	-10% $335	-5% $400	+0% $466	+5% $531	+10% $597
Rate	-1.0pp $533	-0.5pp $500	base $466	+0.5pp $431	+1.0pp $396

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: $33,500
• Closing costs: $4,020
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2636 Lauretta Ave Baltimore, MD	3.0	2.5	1232	$1,900	$1.54	44d	1	0.03mi
2609 Lauretta Ave Baltimore, MD	3.0	1.0	1286	$1,675	$1.30	24d	1	0.07mi
2922 Edmondson Ave Baltimore, MD	3.0	2.0	1620	$1,900	$1.17	44d	1	0.25mi
607 N Longwood St Baltimore, MD	1.0	1.0	1750	$650	$0.37	5d	1	0.30mi
3015 Rayner Ave Baltimore, MD	3.0	1.0	1152	$1,350	$1.17	44d	1	0.37mi
2806 Riggs Ave Baltimore, MD	3.0	2.5	1412	$1,900	$1.35	4d	1	0.47mi
62 N Gorman Ave Baltimore, MD	3.0	2.0	1100	$2,500	$2.27	18d	1	0.51mi
918 N Bentalou St Baltimore, MD	3.0	1.5	1485	$1,750	$1.18	44d	1	0.52mi
2728 Winchester St Baltimore, MD	3.0	1.5	1260	$1,800	$1.43	4d	1	0.53mi
2516 Hollins St Baltimore, MD	3.0	2.0	1100	$1,700	$1.55	44d	1	0.54mi
2537 Hollins St Baltimore, MD	3.0	2.0	1200	$1,450	$1.21	24d	1	0.55mi
39 N Bentalou St Baltimore, MD	3.0	2.5	1844	$1,700	$0.92	3d	1	0.57mi
2301 Riggs Ave Baltimore, MD	3.0	2.0	1072	$1,600	$1.49	24d	1	0.58mi
2232 W Baltimore St Baltimore, MD	3.0	1.0	1250	$1,875	$1.50	24d	1	0.61mi
1042 Ellicott Dr Baltimore, MD	2.0	1.0	900	$1,450	$1.61	44d	1	0.62mi
2225 W Baltimore St Baltimore, MD	3.0	2.5	1200	$1,600	$1.33	24d	1	0.64mi
2012 W Saratoga St Baltimore, MD	3.0	1.0	1300	$1,700	$1.31	24d	1	0.64mi
110 S Catherine St Unit 1 Baltimore, MD	2.0	1.0	1330	$1,500	$1.13	44d	1	0.66mi
3238 Westmont Ave Baltimore, MD	3.0	1.0	1280	$1,600	$1.25	44d	1	0.73mi
3423 Edmondson Ave Baltimore, MD	2.0	1.5	1400	$1,710	$1.22	44d	1	0.74mi
2800 Presstman St Baltimore, MD	3.0	2.5	1460	$1,799	$1.23	24d	1	0.76mi
780 Linnard St Baltimore, MD	3.0	2.0	1224	$1,590	$1.30	44d	1	0.77mi
1846 W Saratoga St Unit 1 Baltimore, MD	2.0	1.0	1250	$1,300	$1.04	44d	1	0.77mi
41 N Kossuth St Baltimore, MD	3.0	2.0	1216	$1,800	$1.48	24d	1	0.79mi
2540 Frederick Ave Baltimore, MD	3.0	1.0	1075	$1,400	$1.30	24d	1	0.79mi
3003 Presstman St Unit 2 Baltimore, MD	2.0	1.0	1450	$1,300	$0.90	24d	1	0.79mi
3003 Presstman St Unit 1 Baltimore, MD	2.0	2.0	1450	$1,400	$0.97	45d	1	0.79mi
787 N Grantley St Baltimore, MD	3.0	1.0	1116	$1,575	$1.41	24d	1	0.79mi
798 N Grantley St Baltimore, MD	3.0	2.0	1360	$2,295	$1.69	24d	1	0.81mi
3310 Elbert St Baltimore, MD	2.0	1.0	920	$1,550	$1.68	24d	1	0.81mi
1814 Penrose Ave Baltimore, MD	3.0	1.0	1624	$1,700	$1.05	18d	1	0.81mi
1918 W Baltimore St Baltimore, MD	2.0–3.0	1.0–2.0	857	$1,375	$1.60	44d	1	0.82mi
1912 W Baltimore St Unit 2 Baltimore, MD	2.0	1.5	1200	$2,100	$1.75	24d	1	0.83mi
147 Denison St Baltimore, MD	1.0	1.0	1370	$1,100	$0.80	24d	1	0.84mi
1839 W Fayette St Baltimore, MD	3.0	1.5	1426	$1,675	$1.17	24d	1	0.84mi
202 N Edgewood St Baltimore, MD	3.0	2.0	1710	$2,250	$1.32	24d	1	0.85mi
3336 W Caton Ave Baltimore, MD	3.0	2.0	1236	$1,625	$1.31	24d	1	0.85mi
813 N Fulton Ave Unit 1 Baltimore, MD	2.0	1.0	1200	$1,350	$1.12	44d	1	0.88mi
307 S Smallwood St Baltimore, MD	2.0	2.5	1400	$1,350	$0.96	44d	1	0.88mi
3607 W Lexington St Baltimore, MD	3.0	2.0	1050	$1,895	$1.80	5d	1	0.90mi

Listing history 25 events

1. 2026-06-18
   days on market $134,000 Active 53 DOM
2. 2026-06-17
   days on market $134,000 Active 52 DOM
3. 2026-06-16
   days on market $134,000 Active 51 DOM
4. 2026-06-15
   days on market $134,000 Active 50 DOM
5. 2026-06-13
   pricedays on market $134,000 Active 48 DOM
6. 2026-06-09
   days on market $152,000 Active 44 DOM
7. 2026-06-08
   days on market $152,000 Active 43 DOM
8. 2026-06-07
   days on market $152,000 Active 42 DOM
9. 2026-06-04
   days on market $152,000 Active 39 DOM
10. 2026-06-03
    days on market $152,000 Active 38 DOM
11. 2026-06-02
    days on market $152,000 Active 37 DOM
12. 2026-06-01
    days on market $152,000 Active 36 DOM
13. 2026-05-31
    days on market $152,000 Active 35 DOM
14. 2026-04-26
    listed $157,000 Active 919-char remark
15. 2006-06-21
    soldstatus $70,000
16. 2006-06-21
    soldstatus $70,000
17. 2006-05-26
    soldstatus $70,000 251-char remark

    Show marketing remark (251 chars)

    THIS IS THE MOST IMPRESSIVE HOME IN THIS PRICE RANGE. REHABBED TO PERFECTION, A COZY PLACE FOR YOUR BUYER, HOME HAS SEVERAL UPGRADES, INCLUDING WHIRLPOOL TUB, UPDATED KITCHENS AND BATH, THIS IS A MOST SEE, WON'T BE LONG BEFORE SOMEONE BEATS YOU TO IT.

18. 2006-04-10
    historical 251-char remark

    Show marketing remark (251 chars)

    THIS IS THE MOST IMPRESSIVE HOME IN THIS PRICE RANGE. REHABBED TO PERFECTION, A COZY PLACE FOR YOUR BUYER, HOME HAS SEVERAL UPGRADES, INCLUDING WHIRLPOOL TUB, UPDATED KITCHENS AND BATH, THIS IS A MOST SEE, WON'T BE LONG BEFORE SOMEONE BEATS YOU TO IT.

19. 2006-03-09
    listed $70,000 251-char remark

    Show marketing remark (251 chars)

    THIS IS THE MOST IMPRESSIVE HOME IN THIS PRICE RANGE. REHABBED TO PERFECTION, A COZY PLACE FOR YOUR BUYER, HOME HAS SEVERAL UPGRADES, INCLUDING WHIRLPOOL TUB, UPDATED KITCHENS AND BATH, THIS IS A MOST SEE, WON'T BE LONG BEFORE SOMEONE BEATS YOU TO IT.

20. 2004-03-25
    soldstatus $18,900
21. 2003-12-03
    soldstatus $18,900
22. 2003-10-21
    historical
23. 2003-09-29
    listed $17,900
24. 2003-07-11
    historical
25. 2003-06-02
    listed

ⓘ 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: $1,051 · $88/mo
• Projected year-2 tax: $1,256 · $105/mo
• Expected delta: +$205/yr (+$17/mo · 19.5%)

ⓘ 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: $19,929
• − Mortgage interest: −$7,506
• − Property taxes: −$1,051
• − Insurance: −$670
• − Repairs & maintenance: −$1,594
• − Management: −$1,594
• − Depreciation: −$3,898
• Taxable income: $3,615
• Est. tax owed @ 24.0%: −$868
• After-tax cash flow: $4,723/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

+648.6% since first listed

16 events — show timeline

• 2026-06-13 Price Changed $134,000 BRIGHT MLS
• 2026-06-11 Price Changed $150,000 BRIGHT MLS
• 2026-06-11 Price Changed $138,000 BRIGHT MLS
• 2026-05-19 Price Changed $152,000 BRIGHT MLS
• 2026-04-26 Listed $157,000 BRIGHT MLS
• 2006-06-21 Sold (Public Records) $70,000 Public Records
• 2006-06-21 Sold (Public Records) $70,000 Public Records
• 2006-05-26 Sold (MLS) $70,000 MRIS
• 2006-04-10 Delisted — MRIS
• 2006-03-09 Listed $70,000 MRIS
• 2004-03-25 Sold (Public Records) $18,900 Public Records
• 2003-12-03 Sold (MLS) $18,900 MRIS
• 2003-10-21 Delisted — MRIS
• 2003-09-29 Listed $17,900 MRIS
• 2003-07-11 Delisted — MRIS
• 2003-06-02 Listed — MRIS

Property tax history

-1.9%/yr

Latest (2025): $1,051 · +5.7% YoY. Source: county tax records.