2019 Ramsay St · Baltimore, MD 21223

$105,000

2 bd · 1.5 ba · 1,380 sqft · Townhouse · 76 Days on market

Built 1900 1,307 sqft lot $76/sqft · 238% 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• ARV discount +7.5/15.0
• 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

Welcome to 2019 Ramsay Street, a beautifully renovated home nestled in the Carrollton Ridge neighborhood. This charming two-bedroom, one and a half bath residence offers perfect opportunity to own for less than the cost of rent! Step inside to discover a bright airy main level featuring high ceilings, wooden floors, appliances and plenty of space for dinning and entertaining. Upstairs, you'll find two spacious bedrooms and a full bath. Lower level offers ample storage space , half bath and convenient laundry area. Updated gas line. New roof and fencing. More. .. . Outside, enjoy a fully fenced rear yard ideal for gardening, or letting pets roam freely. The wooden back porch is perfect for relaxation. You're just minutes from Westside Shopping Center, Carroll Park, Top Golf, M & T Bank Stadium, the University of Maryland Medical Center, Camden Yard, Horseshoe Casino. The vibrant neighborhoods of Federal Hill, Harbor East and Little Italy offers endless options for shopping, dinning and nightlife. With quick access to 1-95 and 1-295, commuting to Washington D. C and beyond in a breeze.

Key facts

• Built 1900
• Listed 76 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath townhouse listed at $105k.

Deal economics

• At list price, monthly cash flow is $556 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Recommended offer: $99k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.6% 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 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• This rent runs 41% 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 $726 of loan paydown is wiped out by about $3k 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 $29k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y ago; this cycle's ask has dropped $20k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $70k; list at $105k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $98,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.49% ✓
• Cap rate: 12.65%
• Cash-on-cash: 22.69%
• DSCR: 2.01
• GRM: 5.6

CMA / ARV

• ARV (median comp): $31,086
• List price: $105,000
• Delta: 237.77%
• 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
2211 W Pratt St	0.19mi	3/1.0 (+1)	1,500 (+9%)	2mo	$30,000	$20	68
2216 W Fayette St	0.48mi	3/1.5 (+1)	1,326 (-4%)	1mo	$77,000	$58	65
2680 Saint Benedict St	0.56mi	3/2.0 (+1)	1,445 (+5%)	2mo	$45,000	$31	57
2516 W Fairmount Ave	0.57mi	3/1.0 (+1)	1,304 (-6%)	2mo	$30,000	$23	55
1241 James St	0.74mi	3/2.0 (+1)	1,412 (+2%)	1mo	$225,000	$159	54
916 S Carey St	0.65mi	3/1.5 (+1)	1,288 (-7%)	1mo	$100,000	$78	52
2141 Vine St	0.49mi	2/1.0	1,200 (-13%)	3mo	$20,000	$17	51
1906 W Saratoga St	0.64mi	3/1.5 (+1)	1,273 (-8%)	2mo	$155,000	$122	50
2544 W Fairmount Ave	0.60mi	2/1.5	1,204 (-13%)	2mo	$55,000	$46	49
1906 W Fairmount Ave	0.43mi	2/3.5	1,200 (-13%)	3mo	$134,900	$112	48
1109 S Carey St	0.72mi	3/2.0 (+1)	1,478 (+7%)	2mo	$219,900	$149	46
2576 W Baltimore St W	0.61mi	3/2.0 (+1)	1,200 (-13%)	2mo	$152,000	$127	41

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: 20.4%
• Equity multiple: 1.88×
• Total profit: $25,824
• Equity at exit: $15,656

10-year hold

• IRR: 31.4%
• Equity multiple: 4.45×
• Total profit: $101,552
• Equity at exit: $9,078

Cash invested: $29,400 (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: 5.6×

Monthly cashflow live

• Estimated rent: $1,567 high
• Mortgage (P&I): −$551
• Tax from tax record: −$88 /mo · $1,051/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$329
• Net cashflow: $556

Break-even live

Break-even rent $863

Max offer price $105,000

Occupancy floor 60%

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
307 S Smallwood St Baltimore, MD	2.0	2.5	1400	$1,350	$0.96	43d	1	0.13mi
514 S Payson St Unit 2 Baltimore, MD	3.0	2.0	1264	$1,750	$1.38	43d	1	0.15mi
476 S Bentalou St Baltimore, MD	2.0	1.5	1630	$1,300	$0.80	43d	1	0.22mi
2225 W Baltimore St Baltimore, MD	3.0	2.5	1200	$1,600	$1.33	24d	1	0.37mi
1918 W Baltimore St Baltimore, MD	2.0–3.0	1.0–2.0	857	$1,375	$1.60	43d	1	0.38mi
1912 W Baltimore St Unit 2 Baltimore, MD	2.0	1.5	1200	$2,100	$1.75	24d	1	0.38mi
2232 W Baltimore St Baltimore, MD	3.0	1.0	1250	$1,875	$1.50	24d	1	0.40mi
110 S Catherine St Unit 1 Baltimore, MD	2.0	1.0	1330	$1,500	$1.13	43d	1	0.42mi
2540 Frederick Ave Baltimore, MD	3.0	1.0	1075	$1,400	$1.30	24d	1	0.42mi
1635 Frederick Ave Baltimore, MD	3.0	2.0	1224	$1,850	$1.51	43d	1	0.44mi
1839 W Fayette St Baltimore, MD	3.0	1.5	1426	$1,675	$1.17	24d	1	0.46mi
39 N Bentalou St Baltimore, MD	3.0	2.5	1844	$1,700	$0.92	3d	1	0.46mi
62 N Gorman Ave Baltimore, MD	3.0	2.0	1100	$2,500	$2.27	18d	1	0.49mi
1601 Frederick Ave Unit 3 Baltimore, MD	2.0	1.0	1050	$1,050	$1.00	4d	1	0.49mi
2516 Hollins St Baltimore, MD	3.0	2.0	1100	$1,700	$1.55	43d	1	0.50mi
2537 Hollins St Baltimore, MD	3.0	2.0	1200	$1,450	$1.21	24d	1	0.52mi
305 S Calhoun St Baltimore, MD	2.0	1.0	1000	$1,300	$1.30	22d	1	0.54mi
2657 Lehman St Unit 1 Baltimore, MD	2.0	1.0	1056	$1,000	$0.95	43d	1	0.54mi
2671 Saint Benedict St Baltimore, MD	2.0	1.0	1144	$1,325	$1.16	43d	1	0.56mi
1324 W Lombard St Unit 2 Baltimore, MD	2.0	1.5	1100	$1,450	$1.32	43d	1	0.60mi
1324 W Lombard St Unit 1 Baltimore, MD	2.0	2.0	1100	$1,500	$1.36	24d	1	0.60mi
1814 Penrose Ave Baltimore, MD	3.0	1.0	1624	$1,700	$1.05	18d	1	0.60mi
2012 W Saratoga St Baltimore, MD	3.0	1.0	1300	$1,700	$1.31	24d	1	0.63mi
1315 Hollins St Unit 2 Baltimore, MD	3.0	2.0	1096	$1,860	$1.70	4d	1	0.63mi
1315 Hollins St Unit 2 Baltimore, MD	3.0	2.0	1096	$1,950	$1.78	12d	1	0.63mi
941 Brunswick St Baltimore, MD	3.0	1.5	1558	$1,600	$1.03	43d	1	0.63mi
941 Brunswick St Baltimore, MD	3.0	1.5	1516	$1,650	$1.09	18d	1	0.63mi
1846 W Saratoga St Unit 1 Baltimore, MD	2.0	1.0	1250	$1,300	$1.04	43d	1	0.64mi
1262 Glyndon Ave Baltimore, MD	2.0	3.0	1258	$1,850	$1.47	24d	1	0.67mi
1518 1/2 W Lexington St Baltimore, MD	2.0	2.0	1650	$1,200	$0.73	4d	1	0.67mi
10 S Carey St Baltimore, MD	2.0	1.0	1140	$1,550	$1.36	24d	1	0.68mi
2738 Wilkens Ave Baltimore, MD	3.0	1.0	1183	$1,500	$1.27	43d	1	0.68mi
1303 James St Baltimore, MD	2.0	1.5	1160	$1,350	$1.16	24d	1	0.68mi
2737 Wilkens Ave Baltimore, MD	3.0	1.5	1232	$1,650	$1.34	4d	1	0.69mi
1519 Penrose Ave Baltimore, MD	3.0	2.0	1200	$1,875	$1.56	43d	1	0.69mi
104 S Carrollton Ave Baltimore, MD	3.0	4.0	1232	$2,400	$1.95	4d	1	0.70mi
1101 S Carey St Baltimore, MD	2.0	2.0	1400	$1,200	$0.86	22d	1	0.70mi
1127 S Carey St Baltimore, MD	3.0	2.5	1340	$1,900	$1.42	4d	1	0.73mi
1432 Carroll St Baltimore, MD	2.0	1.5	912	$1,900	$2.08	43d	1	0.74mi
1215 James St Baltimore, MD	2.0	1.0	960	$1,500	$1.56	43d	1	0.74mi

Listing history 21 events

1. 2026-06-18
   days on market $105,000 Active 76 DOM
2. 2026-06-17
   days on market $105,000 Active 75 DOM
3. 2026-06-16
   days on market $105,000 Active 74 DOM
4. 2026-06-15
   days on market $105,000 Active 73 DOM
5. 2026-06-13
   days on market $105,000 Active 71 DOM
6. 2026-06-09
   days on market $105,000 Active 67 DOM
7. 2026-06-08
   days on market $105,000 Active 66 DOM
8. 2026-06-07
   days on market $105,000 Active 65 DOM
9. 2026-06-04
   days on market $105,000 Active 62 DOM
10. 2026-06-03
    days on market $105,000 Active 61 DOM
11. 2026-06-02
    days on market $105,000 Active 60 DOM
12. 2026-06-01
    days on market $105,000 Active 59 DOM
13. 2026-05-31
    days on market $105,000 Active 58 DOM
14. 2026-04-04
    listed $125,000 Active 1105-char remark

    Show marketing remark (1105 chars)

    Welcome to 2019 Ramsay Street, a beautifully renovated home nestled in the Carrollton Ridge neighborhood. This charming two-bedroom, one and a half bath residence offers perfect opportunity to own for less than the cost of rent! Step inside to discover a bright airy main level featuring high ceilings, wooden floors, appliances and plenty of space for dinning and entertaining. Upstairs, you'll find two spacious bedrooms and a full bath. Lower level offers ample storage space , half bath and convenient laundry area. Updated gas line. New roof and fencing. More. .. . Outside, enjoy a fully fenced rear yard ideal for gardening, or letting pets roam freely. The wooden back porch is perfect for relaxation. You're just minutes from Westside Shopping Center, Carroll Park, Top Golf, M & T Bank Stadium, the University of Maryland Medical Center, Camden Yard, Horseshoe Casino. The vibrant neighborhoods of Federal Hill, Harbor East and Little Italy offers endless options for shopping, dinning and nightlife. With quick access to 1-95 and 1-295, commuting to Washington D. C and beyond in a breeze.

15. 2026-03-29
    historical $125,000 1105-char remark

    Show marketing remark (1105 chars)

    Welcome to 2019 Ramsay Street, a beautifully renovated home nestled in the Carrollton Ridge neighborhood. This charming two-bedroom, one and a half bath residence offers perfect opportunity to own for less than the cost of rent! Step inside to discover a bright airy main level featuring high ceilings, wooden floors, appliances and plenty of space for dinning and entertaining. Upstairs, you'll find two spacious bedrooms and a full bath. Lower level offers ample storage space , half bath and convenient laundry area. Updated gas line. New roof and fencing. More. .. . Outside, enjoy a fully fenced rear yard ideal for gardening, or letting pets roam freely. The wooden back porch is perfect for relaxation. You're just minutes from Westside Shopping Center, Carroll Park, Top Golf, M & T Bank Stadium, the University of Maryland Medical Center, Camden Yard, Horseshoe Casino. The vibrant neighborhoods of Federal Hill, Harbor East and Little Italy offers endless options for shopping, dinning and nightlife. With quick access to 1-95 and 1-295, commuting to Washington D. C and beyond in a breeze.

16. 2007-01-17
    soldstatus $70,000
17. 2006-11-22
    soldstatus $70,900 277-char remark

    Show marketing remark (277 chars)

    Conveniently located near major highways, shopping and public transportation. Cute home with hardwood floors, large LR & DR, storage shed and metal deck; CAC; Off-street parking; CAC; There may be an issue with water pressure on the second floor; Sold "As-Is. "

18. 2006-11-01
    historical 277-char remark

    Show marketing remark (277 chars)

    Conveniently located near major highways, shopping and public transportation. Cute home with hardwood floors, large LR & DR, storage shed and metal deck; CAC; Off-street parking; CAC; There may be an issue with water pressure on the second floor; Sold "As-Is. "

19. 2006-08-16
    listed $68,900 277-char remark

    Show marketing remark (277 chars)

    Conveniently located near major highways, shopping and public transportation. Cute home with hardwood floors, large LR & DR, storage shed and metal deck; CAC; Off-street parking; CAC; There may be an issue with water pressure on the second floor; Sold "As-Is. "

20. 2005-12-31
    historical
21. 2005-02-01
    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: $1,098 · $91/mo
• Expected delta: +$47/yr (+$4/mo · 4.5%)

ⓘ 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 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,803
• − Mortgage interest: −$5,882
• − Property taxes: −$1,051
• − Insurance: −$525
• − Repairs & maintenance: −$1,504
• − Management: −$1,504
• − Depreciation: −$3,055
• Taxable income: $5,283
• Est. tax owed @ 24.0%: −$1,268
• After-tax cash flow: $5,403/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

+81.4% since first listed

8 events — show timeline

• 2026-04-04 Listed $125,000 BRIGHT MLS
• 2026-03-29 Coming Soon $125,000 BRIGHT MLS
• 2007-01-17 Sold (Public Records) $70,000 Public Records
• 2006-11-22 Sold (MLS) $70,900 MRIS
• 2006-11-01 Delisted — MRIS
• 2006-08-16 Listed $68,900 MRIS
• 2005-12-31 Delisted — MRIS
• 2005-02-01 Listed — MRIS

Property tax history

+7.2%/yr

Latest (2025): $1,051 · +13.6% YoY. Source: county tax records.