611 S Eaton St · Baltimore, MD 21224

$219,000

2 bd · 2.0 ba · 1,114 sqft · Townhouse public records · 59 Days on market

Built 1928 1,114 sqft lot $197/sqft · 24% below area Est $289k · 24% under

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Why this score? — see what drove the C- 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 +16.1/30.0
• ARV discount +15.0/15.0
• 1% rule +5.1/10.0
• DSCR +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Gorgeous and spacious townhouse in the heart of Brewer’s Hill! This beautifully updated home features fresh paint throughout and brand-new flooring with no carpet, creating a clean and modern feel from top to bottom. The refinished main staircase adds character, while the updated basement includes a full bathroom with a walk-in shower and washer/dryer hookups, providing additional functional space. The home offers a spacious kitchen, two bedrooms, and a large Jack & Jill bathroom on the second floor with access from both the front bedroom and the hallway, highlighted by a huge skylight that fills the space with natural light. Outside, enjoy a private backyard with no grass to maintain and a welcoming front porch perfect for relaxing from spring through fall, with charming sidewalk lighting that gives the street a cozy neighborhood feel.

Key facts

• Full bathroom
• Spacious kitchen
• Updated basement

Tags

• UPDATED BASEMENT
• FULL BATHROOM
• WALK-IN SHOWER
• WASHER DRYER HOOKUPS
• SPACIOUS KITCHEN
• JACK AND JILL BATHROOM

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $219k.

Deal economics

• At list price, monthly cash flow is $111 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $219k).
• Recommended offer: $212k (3.0% below list) — sets the bar for market timing.

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 (+1.3%/yr); 393 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); solid renter incomes; 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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 24y ago; this cycle's ask has dropped $16k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1928 — 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 $212,430 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 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 1928 — 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: 1.01% ✓
• Cap rate: 6.90%
• Cash-on-cash: 2.16%
• DSCR: 1.10
• GRM: 8.3

CMA / ARV

• ARV (median comp): $289,236
• List price: $219,000
• Delta: -24.28%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
309 S Fagley St	0.22mi	2/2.0	1,030 (-8%)	1mo	$225,000	$218	77
806 S Bouldin St	0.35mi	2/2.5	1,080 (-3%)	1mo	$360,000	$333	76
2933 Hudson St	0.56mi	2/2.0	1,120 (+0%)	1mo	$235,000	$210	72
922 S Bouldin St	0.39mi	2/2.0	1,202 (+8%)	1mo	$352,000	$293	68
621 Ponca St	0.56mi	3/2.0 (+1)	1,116 (+0%)	1mo	$300,000	$269	68
520 S Bouldin St	0.32mi	2/1.5	1,212 (+9%)	1mo	$345,000	$285	68
2731 Fait Ave	0.69mi	2/2.0	1,097 (-2%)	0mo	$285,000	$260	65
1008 S Clinton St	0.39mi	3/1.0 (+1)	1,176 (+6%)	1mo	$200,000	$170	62
3033 Elliott St	0.61mi	2/2.5	1,180 (+6%)	1mo	$310,000	$263	59
14 S Curley St	0.72mi	2/1.0	1,092 (-2%)	1mo	$269,000	$246	58
149 N Highland Ave	0.69mi	2/1.0	1,170 (+5%)	1mo	$75,000	$64	55
111 N Highland Ave	0.63mi	3/1.5 (+1)	1,170 (+5%)	1mo	$105,000	$90	54

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 · 1.31% rent growth · sell at horizon

5-year hold

• IRR: -14.9%
• Equity multiple: 0.48×
• Total profit: $-32,023
• Equity at exit: $32,654

10-year hold

• IRR: -9.5%
• Equity multiple: 0.46×
• Total profit: $-32,999
• Equity at exit: $18,935

Cash invested: $61,320 (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 21224

• Rents YoY: 1.3%
• Active inventory: 393
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,202 high
• Mortgage (P&I): −$1,148
• Tax from tax record: −$389 /mo · $4,669/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$462
• Net cashflow: $111

Break-even live

Break-even rent $2,062

Max offer price $219,000

Occupancy floor 90%

Sensitivity live

Price	-10% $235	-5% $173	+0% $111	+5% $49	+10% $-13
Rent	-10% $-63	-5% $24	+0% $111	+5% $198	+10% $285
Rate	-1.0pp $221	-0.5pp $166	base $111	+0.5pp $54	+1.0pp $-4

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3801 Fleet St Unit 209 Baltimore, MD	1.0	1.5	814	$1,899	$2.33	44d	1	0.04mi
611 Grundy St Baltimore, MD	3.0	2.0	1434	$2,700	$1.88	24d	1	0.11mi
4015 Eastern Ave Unit 2L Baltimore, MD	3.0	2.0	1100	$1,800	$1.64	44d	1	0.16mi
502 S Haven St Baltimore, MD	2.0	2.5	1440	$2,400	$1.67	17d	1	0.16mi
502 S Haven St Baltimore, MD	2.0	2.5	1440	$2,400	$1.67	24d	1	0.16mi
3905 Bank St Baltimore, MD	4.0	1.0–3.0	909	$2,350	$2.58	3d	20	0.16mi
400 S Conkling St Unit 3 Baltimore, MD	1.0	1.0	700	$1,700	$2.43	44d	1	0.22mi
3610 Dillon St Baltimore, MD	1.0–2.0	1.0–2.0	828	$2,820	$3.41	44d	1	0.22mi
321 Fagley St Baltimore, MD	2.0	1.0	800	$1,650	$2.06	21d	1	0.23mi
400 S Highland Ave Unit 402 Baltimore, MD	2.0	1.0	900	$1,700	$1.89	44d	1	0.29mi
3245 Fait Ave Baltimore, MD	3.0	2.0	1470	$2,900	$1.97	44d	1	0.29mi
3232 Eastern Ave Baltimore, MD	1.0	1.5	874	$2,260	$2.59	2d	1	0.31mi
3200 Fait Ave Baltimore, MD	1.0	1.0	800	$1,700	$2.12	3d	1	0.35mi
223 Grundy St Baltimore, MD	2.0	1.0	864	$1,450	$1.68	24d	1	0.35mi
201 S Conkling St Baltimore, MD	1.0	1.0	740	$1,500	$2.03	3d	2	0.35mi
235 S Highland Ave Baltimore, MD	2.0	1.5	1222	$2,000	$1.64	24d	1	0.36mi
1211 S Eaton St Unit 6046 Baltimore, MD	1.0	1.0	774	$2,325	$3.00	17d	1	0.36mi
1211 S Eaton St Unit 5020 Baltimore, MD	1.0	1.0	832	$2,534	$3.05	44d	1	0.36mi
1211 S Eaton St Unit 7020 Baltimore, MD	1.0	1.0	832	$2,400	$2.88	24d	1	0.36mi
1211 S Eaton St Unit 6010 Baltimore, MD	1.0	1.0	774	$2,325	$3.00	22d	1	0.36mi
1211 S Eaton St Unit 6012 Baltimore, MD	1.0	1.0	774	$2,554	$3.30	22d	1	0.36mi
1211 S Eaton St Unit 8041 Baltimore, MD	1.0	1.0	768	$2,300	$2.99	24d	1	0.36mi
1211 S Eaton St Unit 5012 Baltimore, MD	1.0	1.0	774	$2,325	$3.00	24d	1	0.36mi
1211 S Eaton St Unit 8038 Baltimore, MD	1.0	1.0	1037	$2,475	$2.39	17d	1	0.36mi
4505 Foster Ave Baltimore, MD	3.0	3.0	1376	$2,650	$1.93	24d	1	0.36mi
3850 Boston St Baltimore, MD	2.0	1.0–2.0	854	$3,378	$3.96	3d	22	0.38mi
3518 Elliott St Baltimore, MD	3.0	2.5	1036	$2,800	$2.70	18d	1	0.38mi
3710 E Pratt St Baltimore, MD	2.0	3.5	1230	$1,900	$1.54	24d	1	0.38mi
527 S Lehigh St Baltimore, MD	3.0	2.0	1320	$2,325	$1.76	44d	1	0.39mi
115 S Eaton St Baltimore, MD	3.0	2.5	1393	$1,800	$1.29	17d	1	0.42mi
3700 Toone St Baltimore, MD	1.0–2.0	1.0–2.0	1093	$3,218	$2.94	2d	28	0.42mi
1200 S Conkling St Baltimore, MD	1.0–2.0	1.0–2.0	1085	$2,933	$2.70	2d	16	0.43mi
3036 Hudson St Baltimore, MD	2.0	2.5	1428	$2,600	$1.82	44d	1	0.47mi
410 S Newkirk St Baltimore, MD	2.0	1.5	1330	$1,580	$1.19	44d	1	0.48mi
643 S Potomac St Baltimore, MD	2.0	1.0	785	$1,650	$2.10	44d	1	0.49mi
3413 Leverton Ave Baltimore, MD	2.0	1.0	832	$1,000	$1.20	24d	1	0.50mi
3436 Leverton Ave Baltimore, MD	3.0	3.5	1500	$2,350	$1.57	24d	1	0.51mi
611 Oldham St Baltimore, MD	2.0	1.0	1148	$1,800	$1.57	13d	1	0.51mi
106 S Bouldin St Baltimore, MD	2.0	3.0	1134	$2,100	$1.85	21d	1	0.53mi
3018 O Donnell St Unit 2R Baltimore, MD	1.0	1.0	750	$1,700	$2.27	44d	1	0.54mi

Listing history 20 events

1. 2026-06-02
   status $219,000 Pending 59 DOM
2. 2026-05-10
   historical Active Under Contract 860-char remark

   Show marketing remark (860 chars)

   Gorgeous and spacious townhouse in the heart of Brewer’s Hill! This beautifully updated home features fresh paint throughout and brand-new flooring with no carpet, creating a clean and modern feel from top to bottom. The refinished main staircase adds character, while the updated basement includes a full bathroom with a walk-in shower and washer/dryer hookups, providing additional functional space. The home offers a spacious kitchen, two bedrooms, and a large Jack & Jill bathroom on the second floor with access from both the front bedroom and the hallway, highlighted by a huge skylight that fills the space with natural light. Outside, enjoy a private backyard with no grass to maintain and a welcoming front porch perfect for relaxing from spring through fall, with charming sidewalk lighting that gives the street a cozy neighborhood feel.

3. 2026-04-16
   price $219,000 860-char remark

   Show marketing remark (860 chars)

   Gorgeous and spacious townhouse in the heart of Brewer’s Hill! This beautifully updated home features fresh paint throughout and brand-new flooring with no carpet, creating a clean and modern feel from top to bottom. The refinished main staircase adds character, while the updated basement includes a full bathroom with a walk-in shower and washer/dryer hookups, providing additional functional space. The home offers a spacious kitchen, two bedrooms, and a large Jack & Jill bathroom on the second floor with access from both the front bedroom and the hallway, highlighted by a huge skylight that fills the space with natural light. Outside, enjoy a private backyard with no grass to maintain and a welcoming front porch perfect for relaxing from spring through fall, with charming sidewalk lighting that gives the street a cozy neighborhood feel.

4. 2026-03-12
   listed $235,000 Active 860-char remark

   Show marketing remark (860 chars)

   Gorgeous and spacious townhouse in the heart of Brewer’s Hill! This beautifully updated home features fresh paint throughout and brand-new flooring with no carpet, creating a clean and modern feel from top to bottom. The refinished main staircase adds character, while the updated basement includes a full bathroom with a walk-in shower and washer/dryer hookups, providing additional functional space. The home offers a spacious kitchen, two bedrooms, and a large Jack & Jill bathroom on the second floor with access from both the front bedroom and the hallway, highlighted by a huge skylight that fills the space with natural light. Outside, enjoy a private backyard with no grass to maintain and a welcoming front porch perfect for relaxing from spring through fall, with charming sidewalk lighting that gives the street a cozy neighborhood feel.

5. 2025-03-25
   soldstatus $1,295,500
6. 2025-03-08
   historical $1,550
7. 2025-02-14
   listed $1,550
8. 2024-02-06
   historical $1,499
9. 2024-02-04
   price $1,499
10. 2024-01-04
    price $1,599
11. 2023-11-28
    price $1,699
12. 2023-11-14
    price $1,775
13. 2023-10-29
    price $1,799
14. 2023-10-15
    price $1,899
15. 2023-08-29
    listed $1,925
16. 2002-06-24
    soldstatus $55,200
17. 2002-06-05
    soldstatus $55,200
18. 2002-05-13
    historical
19. 2002-05-03
    listed $55,000
20. 1993-04-08
    soldstatus $60,000

ⓘ 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: $4,669 · $389/mo
• Projected year-2 tax: $4,669 · $389/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 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,421
• − Mortgage interest: −$12,267
• − Property taxes: −$4,669
• − Insurance: −$1,095
• − Repairs & maintenance: −$2,114
• − Management: −$2,114
• − Depreciation: −$6,371
• Taxable loss: −$2,209
• Est. tax savings @ 24.0%: +$530
• After-tax cash flow: $1,857/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): 47,465
• Household income: $89,017
• Rent vs Own: 41.5% rent · 58.5% own
• Severe rent burden: 1786.0

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 0.62)
• Race & ethnicity: White 55% Hispanic / Latino 21% Black 16% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2% Dominican 1%
• Common ancestry: Romanian 5% Lithuanian 2% Italian 1%
• Foreign-born: 17% · Canada, China, Vietnam
• Languages at home: 76% English-only · Spanish 18% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -332.23%
• Current HPI: 241.284
• Rent YoY: ▲ 1.31%
• 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

+265.0% since first listed

19 events — show timeline

• 2026-05-10 Contingent — BRIGHT MLS
• 2026-04-16 Price Changed $219,000 BRIGHT MLS
• 2026-03-12 Listed $235,000 BRIGHT MLS
• 2025-03-25 Sold (Public Records) $1,295,500 Public Records
• 2025-03-08 Rental Removed $1,550 APPFOLIO
• 2025-02-14 Listed for Rent $1,550 APPFOLIO
• 2024-02-06 Rental Removed $1,499 APPFOLIO
• 2024-02-04 Price Changed $1,499 APPFOLIO
• 2024-01-04 Price Changed $1,599 APPFOLIO
• 2023-11-28 Price Changed $1,699 APPFOLIO
• 2023-11-14 Price Changed $1,775 APPFOLIO
• 2023-10-29 Price Changed $1,799 APPFOLIO
• 2023-10-15 Price Changed $1,899 APPFOLIO
• 2023-08-29 Listed for Rent $1,925 APPFOLIO
• 2002-06-24 Sold (Public Records) $55,200 Public Records
• 2002-06-05 Sold (MLS) $55,200 MRIS
• 2002-05-13 Delisted — MRIS
• 2002-05-03 Listed $55,000 MRIS
• 1993-04-08 Sold (Public Records) $60,000 Public Records

Property tax history

+2.0%/yr

Latest (2025): $4,669 · +1.7% YoY. Source: county tax records.