6317 Park Heights Ave #103 · Baltimore, MD 21215

$75,000

3 bd · 2.0 ba · 1,750 sqft · Condo public records · 19 Days on market

Built 1975 $727/mo HOA · 31% of rent ↓ 20% since listing

---

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
• Livability +3.8/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

HUD Case 241-827308. Equal Housing Opportunity. FHA financing is available with IE (Insured Escrow) with a repair escrow; HUD may contribute up to 3% of buyer’s closing cost. HUD property sold fully as-is. Please visit wwwHudhomestorecom for offer instructions, availability, property condition report. Information provided must be verified by all perspective purchasers. Buyer is responsible for utility activation and de-winterization at their expense. All transfer taxes to be paid by buyer. Discover a prime investment opportunity in the charming UPPER PARK HEIGHTS community rental or owner occupant! This spacious penthouse unit offers a blank canvas for your vision, perfect for those l

Key facts

• Essential amenities
• Brick construction
• $727 HOA

Tags

• SPACIOUS PENTHOUSE UNIT
• BRICK CONSTRUCTION
• WELL-MANAGED ASSOCIATION
• ESSENTIAL AMENITIES
• POTENTIAL FOR CUSTOMIZATION
• GARDEN-STYLE BUILDING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $75k.

Deal economics

• At list price, monthly cash flow is $479 ($6k/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 14.9% 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: 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 (+2.4%/yr); 351 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• At $2,382/mo this rent would consume 55% of the median local household income ($52k/yr) (locally 3644% 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 $519 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 + 2.4% rent growth), your $21k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 27y 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.
• Current owner paid $62k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; flood insurance adds $56/mo; HOA is 31% of rent.
• Climate carrying-cost: major flood risk; moderate wind risk, 23% 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 $73,875 (1.5% below list)

Questions for the listing agent

1. Built in 1975 — 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 3.18% ✓
• Cap rate: 14.85%
• Cash-on-cash: 30.57%
• DSCR: 2.36
• GRM: 2.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.41% rent growth · sell at horizon

5-year hold

• IRR: 20.7%
• Equity multiple: 1.84×
• Total profit: $17,555
• Equity at exit: $11,183

10-year hold

• IRR: 28.4%
• Equity multiple: 3.44×
• Total profit: $51,258
• Equity at exit: $6,485

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 21215

• Rents YoY: 2.4%
• Active inventory: 351
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $2,382 high
• Mortgage (P&I): −$393
• Tax from tax record: −$195 /mo · $2,342/yr
• Insurance: −$31
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$727
• Vacancy / Maint / Mgmt: −$500
• Net cashflow: $479

Break-even live

Break-even rent $1,775

Max offer price $75,000

Occupancy floor 75%

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 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3505 Clarks Ln Unit D2 Baltimore, MD	3.0	2.0	1750	$2,500	$1.43	43d	1	0.18mi
3709 Fords Ln Baltimore, MD	4.0	3.5	2248	$3,200	$1.42	20d	1	0.24mi
5807 Gist Ave Baltimore, MD	2.0	1.5	2100	$1,395	$0.66	24d	1	0.66mi
3109 Northbrook Rd Pikesville, MD	4.0	2.5	1957	$3,200	$1.64	10d	1	0.85mi
3700 Seven Mile Ln Pikesville, MD	1.0–2.0	1.0–2.0	1063	$1,723	$1.62	1d	13	0.87mi
6609 Eberle Dr Baltimore, MD	1.0–3.0	1.0–2.0	1011	$1,787	$1.77	1d	25	0.89mi
7307 Park Heights Ave Pikesville, MD	2.0	2.0–2.5	1251	$2,506	$2.00	1d	5	0.96mi
6936 Blanche Rd Baltimore, MD	3.0	1.5	1410	$1,800	$1.28	43d	1	0.99mi
7008 Deerfield Rd Pikesville, MD	3.0	1.5	1664	$2,300	$1.38	43d	1	1.15mi
19 Warren Park Dr Pikesville, MD	3.0	1.0–2.0	903	$1,700	$1.88	3d	10	1.33mi
6624 Chippewa Dr Baltimore, MD	3.0	1.5	1514	$2,400	$1.59	24d	1	1.37mi

HOA detail condo

• Monthly dues: $727 · $8,724/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-04-30
   status Pending
2. 2026-04-20
   historical
3. 2026-04-01
   price $75,000
4. 2026-04-01
   listed $75,000 Active
5. 2026-04-01
   historical
6. 2026-02-04
   price $91,530
7. 2026-01-01
   price $101,700
8. 2025-10-31
   listed $113,000 Active
9. 1999-12-14
   soldstatus $62,000
10. 1999-12-09
    soldstatus $62,000
11. 1999-10-18
    historical
12. 1999-06-02
    listed $67,500
13. 1995-07-31
    soldstatus $52,000
14. 1984-08-15
    soldstatus $93,700

ⓘ 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: $2,342 · $195/mo
• Projected year-2 tax: $2,342 · $195/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 7/10 Severe FEMA zone X (unshaded) · 96% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 23% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,583
• − Mortgage interest: −$4,201
• − Property taxes: −$2,342
• − Insurance: −$1,042
• − Repairs & maintenance: −$2,287
• − Management: −$2,287
• − HOA: −$8,724
• − Depreciation: −$2,182
• Taxable income: $5,519
• Est. tax owed @ 24.0%: −$1,325
• After-tax cash flow: $4,429/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): 52,229
• Household income: $51,587
• Rent vs Own: 45.2% rent · 54.8% own
• Severe rent burden: 3644.0

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 (73%)
• Race & ethnicity: Black 73% White 17% Hispanic / Latino 5% Two or more races 4% Asian 1%
• Common ancestry: Scotch-Irish 2% Romanian 2% Italian 1%
• Foreign-born: 9% · Canada, South Korea
• Languages at home: 91% English-only · Spanish 4% French/Haitian/Cajun 1% 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: ▼ -318.58%
• Current HPI: 291.4926
• Rent YoY: ▲ 2.41%
• 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

-20.0% since first listed

14 events — show timeline

• 2026-04-30 Pending — BRIGHT MLS
• 2026-04-20 Listing Removed — BRIGHT MLS
• 2026-04-01 Price Changed $75,000 BRIGHT MLS
• 2026-04-01 Listing Removed — BRIGHT MLS
• 2026-04-01 Listed $75,000 BRIGHT MLS
• 2026-02-04 Price Changed $91,530 BRIGHT MLS
• 2026-01-01 Price Changed $101,700 BRIGHT MLS
• 2025-10-31 Listed $113,000 BRIGHT MLS
• 1999-12-14 Sold (Public Records) $62,000 Public Records
• 1999-12-09 Sold (MLS) $62,000 MRIS
• 1999-10-18 Delisted — MRIS
• 1999-06-02 Listed $67,500 MRIS
• 1995-07-31 Sold (Public Records) $52,000 Public Records
• 1984-08-15 Sold (Public Records) $93,700 Public Records

Property tax history

-1.3%/yr

Latest (2025): $2,342 · +51.1% YoY. Source: county tax records.