329 S Gilmor St · Baltimore, MD 21223

$112,000

4 bd · 2.5 ba · 2,066 sqft · Townhouse · 160 Days on market

Built 1920 1,408 sqft lot $54/sqft · 43% below area Est $197k · 43% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Great investment opportunity in Baltimore! This spacious rowhome offers 3 bedrooms and 1 full bath with plenty of living space. The main level features a bright living room, dining area, and kitchen with ample cabinetry. Upstairs you’ll find comfortable bedrooms and a full bathroom, while the lower level provides additional storage and utility space. The property includes a fenced backyard, perfect for outdoor use. Conveniently located near downtown, major highways, shops, and public transportation.

Key facts

• Ample cabinetry
• Bright living room
• Fenced backyard

Tags

• FENCED BACKYARD
• BRIGHT LIVING ROOM
• AMPLE CABINETRY
• ADDITIONAL STORAGE
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath townhouse listed at $112k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $112k).
• Recommended offer: $99k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.4% 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); 425 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).
• At $2,342/mo this rent would consume 61% of the median local household income ($46k/yr) (locally 1755% 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 $774 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 $31k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 160 days — a 12% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 9y 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.

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 $98,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 160 days. Have you received any prior offers? Is the seller open to a 12% 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. 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: 2.09% ✓
• Cap rate: 18.40%
• Cash-on-cash: 43.23%
• DSCR: 2.92
• GRM: 4.0

CMA / ARV

• ARV (median comp): $196,700
• List price: $112,000
• Delta: -43.06%
• 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
206 S Gilmor St	0.10mi	4/2.5	2,200 (+6%)	3mo	$215,000	$98	82
105 N Fulton Ave	0.46mi	4/2.0	2,000 (-3%)	6mo	$50,000	$25	66
1706 Lemmon St	0.19mi	3/1.0 (-1)	2,200 (+6%)	4mo	$38,500	$18	66
1121 Ward St	0.52mi	3/2.0 (-1)	2,172 (+5%)	2mo	$185,000	$85	58
877 Ryan St	0.58mi	4/3.5	1,919 (-7%)	2mo	$365,000	$190	55
10 N Pulaski St	0.56mi	4/1.5	2,232 (+8%)	3mo	$92,500	$41	54
8 N Pulaski St	0.55mi	3/3.0 (-1)	2,230 (+8%)	1mo	$114,000	$51	53
207 Roundhouse Ct	0.68mi	3/2.5 (-1)	1,890 (-8%)	0mo	$290,000	$153	49
1122 Sargeant St	0.45mi	3/3.0 (-1)	1,789 (-13%)	6mo	$198,000	$111	45
316 Parkin St	0.60mi	3/3.5 (-1)	1,880 (-9%)	5mo	$353,000	$188	44
1403 S Carey St	0.54mi	3/3.0 (-1)	1,757 (-15%)	0mo	$249,900	$142	42
628 Scott St	0.71mi	3/2.0 (-1)	1,800 (-13%)	2mo	$305,000	$169	36

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: 45.0%
• Equity multiple: 3.07×
• Total profit: $64,918
• Equity at exit: $16,700

10-year hold

• IRR: 52.8%
• Equity multiple: 7.35×
• Total profit: $199,233
• Equity at exit: $9,684

Cash invested: $31,360 (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: 425
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $2,342 high
• Mortgage (P&I): −$587
• Tax from tax record: −$86 /mo · $1,033/yr
• Insurance: −$47
• HOA: −$0
• Vacancy / Maint / Mgmt: −$492
• Net cashflow: $1,130

Break-even live

Break-even rent $912

Max offer price $112,000

Occupancy floor 47%

Sensitivity live

Price	-10% $1,193	-5% $1,161	+0% $1,130	+5% $1,098	+10% $1,066
Rent	-10% $945	-5% $1,037	+0% $1,130	+5% $1,222	+10% $1,315
Rate	-1.0pp $1,186	-0.5pp $1,158	base $1,130	+0.5pp $1,101	+1.0pp $1,071

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: $28,000
• Closing costs: $3,360
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1328 W Lombard St Baltimore, MD	3.0	3.5	2312	$3,600	$1.56	14d	1	0.25mi
1138 W Lombard St Baltimore, MD	3.0	3.5	2400	$1,795	$0.75	25d	1	0.36mi
1115 W Lombard St Baltimore, MD	3.0	1.0	1468	$2,100	$1.43	45d	1	0.38mi
311 S Pulaski St Baltimore, MD	5.0	3.0	1450	$2,400	$1.66	45d	1	0.41mi
311 S Pulaski St Baltimore, MD	5.0	3.0	1450	$2,400	$1.66	5d	1	0.41mi
1839 W Fayette St Baltimore, MD	3.0	1.5	1426	$1,675	$1.17	25d	1	0.44mi
1227 Washington Blvd Baltimore, MD	4.0	3.5	2664	$2,950	$1.11	5d	1	0.45mi
1000 Hollins St Unit 1000 Hollins Baltimore, MD	3.0	2.5	1472	$2,600	$1.77	45d	1	0.51mi
913 W Lombard St Baltimore, MD	3.0	1.0	1452	$1,600	$1.10	25d	1	0.54mi
922 W Lombard St Baltimore, MD	4.0	2.0	2364	$2,300	$0.97	25d	1	0.54mi
110 S Poppleton St Baltimore, MD	3.0	1.5	1800	$1,900	$1.06	45d	1	0.55mi
1814 Penrose Ave Baltimore, MD	3.0	1.0	1624	$1,700	$1.05	19d	1	0.56mi
1226 W Cross St Baltimore, MD	3.0	3.0	1551	$2,250	$1.45	45d	1	0.57mi
101 N Schroeder St Baltimore, MD	3.0	1.0–2.0	1037	$3,185	$3.07	3d	12	0.63mi
819 Ramsay St Baltimore, MD	4.0	3.5	1856	$3,000	$1.62	14d	1	0.65mi
827 Washington Blvd Baltimore, MD	3.0	1.0	1512	$2,000	$1.32	25d	1	0.66mi
39 N Bentalou St Baltimore, MD	3.0	2.5	1844	$1,700	$0.92	4d	1	0.67mi
853 W Lombard St Baltimore, MD	3.0	2.5	2824	$2,650	$0.94	25d	1	0.68mi
803 McHenry St Baltimore, MD	4.0	2.5	1856	$2,599	$1.40	4d	1	0.69mi
324 Scott St Baltimore, MD	4.0	2.5	1656	$3,000	$1.81	45d	1	0.69mi
610 Scott St Baltimore, MD	5.0	3.0	1700	$2,750	$1.62	14d	1	0.71mi
519 Scott St Unit 2 Baltimore, MD	3.0	3.0	1600	$3,000	$1.88	45d	1	0.73mi
709 Scott St Baltimore, MD	3.0	2.5	1448	$2,500	$1.73	25d	1	0.74mi
709 Scott St Baltimore, MD	3.0	3.0	1448	$2,500	$1.73	16d	1	0.74mi
804 Hollins St Unit 1 Baltimore, MD	3.0	2.0	1800	$2,700	$1.50	5d	1	0.77mi
1625 Edmondson Ave Unit 1 Baltimore, MD	4.0	3.0	1500	$2,175	$1.45	5d	1	0.77mi
1625 Edmondson Ave Unit 2 Baltimore, MD	4.0	3.0	1500	$1,895	$1.26	14d	1	0.77mi
1509 Edmondson Ave #1 Baltimore, MD	3.0	2.0	1600	$2,275	$1.42	25d	1	0.78mi
1032 W Franklin St Baltimore, MD	4.0	4.5	1913	$2,650	$1.39	25d	1	0.81mi
912 S Paca St Baltimore, MD	3.0	2.0	2000	$2,250	$1.12	45d	1	0.85mi
636 Portland St Baltimore, MD	4.0	2.0	1545	$2,650	$1.72	25d	1	0.92mi
941 Brunswick St Baltimore, MD	3.0	1.5	1558	$1,600	$1.03	45d	1	0.98mi
941 Brunswick St Baltimore, MD	3.0	1.5	1516	$1,650	$1.09	19d	1	0.98mi
1613 Riggs Ave Baltimore, MD	3.0	2.5	1800	$1,800	$1.00	25d	1	1.17mi
1633 Sexton St Baltimore, MD	4.0	3.0	1748	$1,999	$1.14	45d	1	1.18mi
918 N Bentalou St Baltimore, MD	3.0	1.5	1485	$1,750	$1.18	45d	1	1.22mi
300 W Fayette St Baltimore, MD	3.0	1.0–3.0	1267	$2,250	$1.78	4d	9	1.27mi
549 Mosher St Baltimore, MD	3.0	1.0	2200	$1,350	$0.61	45d	1	1.38mi
904 S Hanover St Baltimore, MD	3.0	2.5	1900	$2,795	$1.47	25d	1	1.45mi
2922 Edmondson Ave Baltimore, MD	3.0	2.0	1620	$1,900	$1.17	45d	1	1.46mi

Listing history 26 events

1. 2026-06-09
   days on market $112,000 Active 160 DOM
2. 2026-06-08
   days on market $112,000 Active 159 DOM
3. 2026-06-07
   days on market $112,000 Active 158 DOM
4. 2026-06-04
   days on market $112,000 Active 155 DOM
5. 2026-06-03
   days on market $112,000 Active 154 DOM
6. 2026-06-02
   days on market $112,000 Active 153 DOM
7. 2026-06-01
   days on market $112,000 Active 152 DOM
8. 2026-05-31
   days on market $112,000 Active 151 DOM
9. 2025-12-31
   historical

   Show marketing remark (510 chars)

   Great investment opportunity in Baltimore! This spacious rowhome offers 3 bedrooms and 1 full bath with plenty of living space. The main level features a bright living room, dining area, and kitchen with ample cabinetry. Upstairs you’ll find comfortable bedrooms and a full bathroom, while the lower level provides additional storage and utility space. The property includes a fenced backyard, perfect for outdoor use. Conveniently located near downtown, major highways, shops, and public transportation.

10. 2025-12-31
    listed $112,000 Active 510-char remark

    Show marketing remark (510 chars)

    Great investment opportunity in Baltimore! This spacious rowhome offers 3 bedrooms and 1 full bath with plenty of living space. The main level features a bright living room, dining area, and kitchen with ample cabinetry. Upstairs you’ll find comfortable bedrooms and a full bathroom, while the lower level provides additional storage and utility space. The property includes a fenced backyard, perfect for outdoor use. Conveniently located near downtown, major highways, shops, and public transportation.

11. 2025-09-05
    status Active
12. 2025-09-02
    historical
13. 2025-09-02
    listed $120,000 Active
14. 2025-08-27
    historical
15. 2024-05-31
    historical
16. 2023-06-06
    price $159,000
17. 2023-03-13
    price $160,000
18. 2023-03-08
    listed $150,000 Active
19. 2018-02-17
    historical Withdrawn
20. 2017-10-07
    price
21. 2017-08-10
    price
22. 2017-07-06
    price
23. 2017-06-03
    price
24. 2017-05-28
    price
25. 2017-05-13
    listed Active
26. 2017-05-13
    listed $89,900 Active

ⓘ 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: $1,033 · $86/mo
• Projected year-2 tax: $1,127 · $94/mo
• Expected delta: +$94/yr (+$8/mo · 9.1%)

ⓘ 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: $28,100
• − Mortgage interest: −$6,274
• − Property taxes: −$1,033
• − Insurance: −$560
• − Repairs & maintenance: −$2,248
• − Management: −$2,248
• − Depreciation: −$3,258
• Taxable income: $12,478
• Est. tax owed @ 24.0%: −$2,995
• After-tax cash flow: $10,562/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

+24.6% since first listed

18 events — show timeline

• 2025-12-31 Listed $112,000 BRIGHT MLS
• 2025-12-31 Listing Removed — BRIGHT MLS
• 2025-09-05 Relisted — BRIGHT MLS
• 2025-09-02 Listing Removed — BRIGHT MLS
• 2025-09-02 Listed $120,000 BRIGHT MLS
• 2025-08-27 Coming Soon — BRIGHT MLS
• 2024-05-31 Listing Removed — BRIGHT MLS
• 2023-06-06 Price Changed $159,000 BRIGHT MLS
• 2023-03-13 Price Changed $160,000 BRIGHT MLS
• 2023-03-08 Listed $150,000 BRIGHT MLS
• 2018-02-17 Delisted — MRIS
• 2017-10-07 Price Changed — MRIS
• 2017-08-10 Price Changed — MRIS
• 2017-07-06 Price Changed — MRIS
• 2017-06-03 Price Changed — MRIS
• 2017-05-28 Price Changed — MRIS
• 2017-05-13 Listed — MRIS
• 2017-05-13 Listed $89,900 BRIGHT MLS

Property tax history

+1.1%/yr

Latest (2025): $1,033 · +2.3% YoY. Source: county tax records.