1172 Washington Blvd · Baltimore, MD 21230

$149,900

2 bd · 2.0 ba · 960 sqft · Townhouse public records · 25 Days on market

Built 1900 Est $150k · at est.

---

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 +23.5/30.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 1172 Washington Blvd, a beautifully fully renovated 2 bedroom, 1.5 bath home located in the heart of Baltimore’s sought after Pigtown community! Just minutes from downtown Baltimore, M & T Bank Stadium, Camden Yards, and the Inner Harbor, this home offers the perfect blend of convenience, charm, and city living. Enjoy two spacious bedrooms, modern updates throughout, and easy access to Pigtown’s beloved local restaurants, shops, and entertainment. This property is also eligible for Baltimore City’s Vacants to Value program, offering qualified buyers up to $10,000 toward down payment and closing cost assistance. A great opportunity for homeowners!

Key facts

• Built 1900
• Listed 25 days

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas available; Instant hot water
• Home design: Interior townhouse/rowhouse
• Construction: Brick construction; Brick/mortar foundation; Rubber and tar/gravel roof; Unfinished basement
• Exterior features: Two or more access exits; Below-grade area (basement/unfinished)

Interior

• Kitchen: Dishwasher; Microwave; Instant hot water; Refrigerator; Stainless steel appliances
• Bedrooms: 2 bedrooms on the first upper level
• Flooring: Solid hardwood; Carpet; Luxury vinyl tile
• Bathrooms: 1 full bathroom on the upper level; 1 half bathroom on the main level
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Traditional floor plan; Ceiling fans; Tub/shower
• Laundry & utility: Instant hot water (included under appliances)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $150k.

Deal economics

• At list price, monthly cash flow is $279 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.5% 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 soft (-1.0%/yr); 362 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 $1k 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.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 26y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $93k; list at $150k implies a 62% 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 $147,651 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.15% ✓
• Cap rate: 8.53%
• Cash-on-cash: 7.98%
• DSCR: 1.36
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $149,760
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1133 Sargeant St	0.04mi	2/1.5	912 (-5%)	2mo	$67,500	$74	86
1121 Cleveland St	0.15mi	2/1.0	912 (-5%)	2mo	$109,900	$121	79
1241 W Lombard St	0.37mi	2/1.0	963 (+0%)	3mo	$150,000	$156	76
1226 W Pratt St	0.32mi	2/1.5	1,000 (+4%)	2mo	$80,000	$80	75
884 Washington Blvd	0.17mi	2/1.5	1,040 (+8%)	3mo	$200,000	$192	74
1125 Bayard St	0.22mi	1/2.0 (-1)	1,032 (+8%)	0mo	$120,000	$116	72
1239 W Lombard St	0.36mi	2/1.0	1,000 (+4%)	3mo	$150,000	$150	70
703 Dover St	0.48mi	2/2.0	1,008 (+5%)	1mo	$225,000	$223	69
640 Dover St	0.53mi	3/2.0 (+1)	936 (-2%)	2mo	$220,000	$235	65
1607 Lemmon St	0.54mi	1/1.0 (-1)	974 (+2%)	1mo	$20,000	$21	63
649 Dover St	0.51mi	1/1.5 (-1)	936 (-2%)	3mo	$195,000	$208	63
1404 Lemmon St	0.42mi	3/2.0 (+1)	1,100 (+15%)	1mo	$189,000	$172	50

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -7.7%
• Equity multiple: 0.73×
• Total profit: $-11,501
• Equity at exit: $22,351

10-year hold

• IRR: -2.6%
• Equity multiple: 0.85×
• Total profit: $-6,386
• Equity at exit: $12,961

Cash invested: $41,972 (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 21230

• Rents YoY: -1.0%
• Active inventory: 362
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,720 high
• Mortgage (P&I): −$786
• Tax from tax record: −$231 /mo · $2,770/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$361
• Net cashflow: $279

Break-even live

Break-even rent $1,366

Max offer price $149,900

Occupancy floor 79%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1160 Washington Blvd Baltimore, MD	2.0	1.0	960	$1,575	$1.64	24d	1	0.02mi
1163 Washington Blvd Baltimore, MD	2.0	2.5	1012	$1,700	$1.68	12d	1	0.03mi
1127 Sargeant St Baltimore, MD	2.0	1.5	1080	$1,275	$1.18	24d	1	0.05mi
1142 Sargeant St Baltimore, MD	3.0	2.0	1080	$1,601	$1.48	2d	1	0.06mi
1215 James St Baltimore, MD	2.0	1.0	960	$1,500	$1.56	43d	1	0.06mi
853 Reinhart St Baltimore, MD	2.0	2.5	780	$1,800	$2.31	43d	1	0.18mi
923 McHenry St Baltimore, MD	3.0	1.0	1008	$1,625	$1.61	43d	1	0.20mi
847 McHenry St Baltimore, MD	2.0	2.0	952	$1,795	$1.89	4d	1	0.23mi
805 Washington Blvd Unit B Baltimore, MD	2.0	2.0	1106	$1,650	$1.49	20d	1	0.27mi
805 Washington Blvd Unit A Baltimore, MD	2.0	2.0	1050	$1,650	$1.57	43d	1	0.27mi
1432 Carroll St Baltimore, MD	2.0	1.5	912	$1,900	$2.08	43d	1	0.29mi
519 Scott St Unit 1 Baltimore, MD	2.0	2.0	800	$2,000	$2.50	43d	1	0.30mi
776 Washington Blvd Unit 3F Baltimore, MD	1.0	1.0	800	$1,000	$1.25	43d	1	0.31mi
305 S Calhoun St Baltimore, MD	2.0	1.0	1000	$1,300	$1.30	22d	1	0.32mi
1125 Wicomico St Baltimore, MD	3.0	3.0	1068	$1,955	$1.83	24d	1	0.32mi
48 S Carrollton Ave Unit 4 Baltimore, MD	2.0	1.0	670	$1,600	$2.39	43d	1	0.40mi
1324 W Lombard St Unit 1 Baltimore, MD	2.0	2.0	1100	$1,500	$1.36	24d	1	0.42mi
812 S Paca St Baltimore, MD	3.0	2.0	990	$1,500	$1.52	12d	1	0.42mi
1324 W Lombard St Unit 2 Baltimore, MD	2.0	1.5	1100	$1,450	$1.32	43d	1	0.42mi
1315 Hollins St Unit 2 Baltimore, MD	3.0	2.0	1096	$1,860	$1.70	4d	1	0.45mi
1315 Hollins St Unit 2 Baltimore, MD	3.0	2.0	1096	$1,950	$1.78	12d	1	0.45mi
121 S Fremont Ave Baltimore, MD	1.0	1.0	582	$2,100	$3.61	20d	5	0.47mi
725 W Pratt St Baltimore, MD	1.0	1.0	584	$1,925	$3.29	10d	9	0.48mi
638 S Paca St Unit 2404866494 Baltimore, MD	3.0	1.5	1100	$2,200	$2.00	43d	1	0.48mi
657 Dover St Baltimore, MD	1.0	2.0	1080	$1,400	$1.30	12d	1	0.52mi
653 Dover St Baltimore, MD	1.0	1.5	936	$1,500	$1.60	20d	1	0.52mi
101 N Schroeder St Baltimore, MD	3.0	1.0–2.0	1037	$2,481	$2.39	2d	12	0.57mi
28 N Norris St Baltimore, MD	1.0	2.0	700	$1,450	$2.07	43d	1	0.61mi
1601 Frederick Ave Unit 3 Baltimore, MD	2.0	1.0	1050	$1,050	$1.00	4d	1	0.62mi
1712 W Lombard St #4 Baltimore, MD	1.0	1.0	550	$900	$1.64	43d	1	0.63mi
519 W Pratt St Baltimore, MD	1.0	1.0	576	$1,400	$2.43	2d	2	0.65mi
410 W Lombard St Baltimore, MD	1.0	1.0	611	$1,995	$3.26	1d	4	0.76mi
617 W Lexington St Baltimore, MD	1.0–2.0	1.0	975	$2,200	$2.26	10d	4	0.80mi
301 W Lombard St Baltimore, MD	1.0	1.0–2.0	499	$1,775	$3.56	2d	30	0.81mi
1918 W Baltimore St Baltimore, MD	2.0–3.0	1.0–2.0	857	$1,375	$1.60	43d	1	0.85mi
11 S Eutaw St Baltimore, MD	1.0–2.0	1.0–2.0	1023	$2,146	$2.10	2d	11	0.86mi
1 S Eutaw St Unit 1BR Baltimore, MD	1.0	1.0	600	$1,245	$2.08	14d	1	0.86mi
300 W Lombard St Baltimore, MD	2.0	1.0–2.0	686	$1,835	$2.67	2d	7	0.86mi
300 W Redwood St Baltimore, MD	1.0	1.0	565	$2,400	$4.25	18d	1	0.89mi
311 W Baltimore St Unit 504 Baltimore, MD	2.0	2.0	1100	$1,999	$1.82	20d	1	0.89mi

Listing history 37 events

1. 2026-06-18
   days on market $149,900 Active 25 DOM
2. 2026-06-17
   days on market $149,900 Active 24 DOM
3. 2026-06-16
   days on market $149,900 Active 23 DOM
4. 2026-06-15
   days on market $149,900 Active 22 DOM
5. 2026-06-13
   days on market $149,900 Active 20 DOM
6. 2026-06-09
   days on market $149,900 Active 16 DOM
7. 2026-06-08
   days on market $149,900 Active 15 DOM
8. 2026-06-07
   days on market $149,900 Active 14 DOM
9. 2026-06-04
   pricedays on market $149,900 Active 11 DOM
10. 2026-06-03
    days on market $159,900 Active 10 DOM
11. 2026-06-02
    days on market $159,900 Active 9 DOM
12. 2026-06-01
    days on market $159,900 Active 8 DOM
13. 2026-05-31
    days on market $159,900 Active 7 DOM
14. 2026-05-24
    historical $159,900
15. 2025-12-09
    listed $159,900
16. 2025-12-09
    historical
17. 2025-12-08
    historical
18. 2025-12-08
    listed $159,900 Active
19. 2025-12-02
    historical
20. 2018-11-20
    soldstatus $92,800
21. 2018-09-12
    historical
22. 2018-09-12
    historical Withdrawn
23. 2018-07-28
    price $96,000
24. 2018-07-28
    price
25. 2018-05-18
    listed $97,500 Active
26. 2018-05-18
    listed Active
27. 2018-04-19
    historical
28. 2018-04-19
    historical Withdrawn
29. 2018-03-29
    price $97,500
30. 2018-03-29
    price
31. 2017-12-05
    price
32. 2017-11-06
    listed Active
33. 2017-11-06
    listed $111,800 Active
34. 2001-02-20
    soldstatus $8,200
35. 2000-12-30
    soldstatus $8,200
36. 2000-09-13
    historical
37. 2000-08-23
    listed $10,000

ⓘ 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: $2,770 · $231/mo
• Projected year-2 tax: $2,770 · $231/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 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $20,635
• − Mortgage interest: −$8,397
• − Property taxes: −$2,770
• − Insurance: −$750
• − Repairs & maintenance: −$1,651
• − Management: −$1,651
• − Depreciation: −$4,361
• Taxable income: $1,057
• Est. tax owed @ 24.0%: −$254
• After-tax cash flow: $3,096/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): 32,977
• Household income: $91,842
• Rent vs Own: 49.3% rent · 50.7% own
• Severe rent burden: 1463.0

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 0.63)
• Race & ethnicity: White 55% Black 23% Hispanic / Latino 13% Two or more races 6% Asian 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1%
• Common ancestry: Romanian 5% Lithuanian 2% Italian 2%
• Foreign-born: 10% · Canada, China
• Languages at home: 85% English-only · Spanish 9% Other Indo-European 1% Other Asian/Pacific 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: ▼ -311.43%
• Current HPI: 284.338
• Rent YoY: ▼ -1.00%
• 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

+1499.0% since first listed

24 events — show timeline

• 2026-05-24 Coming Soon $159,900 BRIGHT MLS
• 2025-12-09 Listing Removed — BRIGHT MLS
• 2025-12-09 Listed $159,900 BRIGHT MLS
• 2025-12-08 Listing Removed — BRIGHT MLS
• 2025-12-08 Listed $159,900 BRIGHT MLS
• 2025-12-02 Coming Soon — BRIGHT MLS
• 2018-11-20 Sold (Public Records) $92,800 Public Records
• 2018-09-12 Listing Removed — BRIGHT MLS
• 2018-09-12 Delisted — MRIS
• 2018-07-28 Price Changed $96,000 BRIGHT MLS
• 2018-07-28 Price Changed — MRIS
• 2018-05-18 Listed — MRIS
• 2018-05-18 Listed $97,500 BRIGHT MLS
• 2018-04-19 Listing Removed — BRIGHT MLS
• 2018-04-19 Delisted — MRIS
• 2018-03-29 Price Changed $97,500 BRIGHT MLS
• 2018-03-29 Price Changed — MRIS
• 2017-12-05 Price Changed — MRIS
• 2017-11-06 Listed — MRIS
• 2017-11-06 Listed $111,800 BRIGHT MLS
• 2001-02-20 Sold (Public Records) $8,200 Public Records
• 2000-12-30 Sold (MLS) $8,200 MRIS
• 2000-09-13 Delisted — MRIS
• 2000-08-23 Listed $10,000 MRIS

Property tax history

+3.4%/yr

Latest (2025): $2,770 · +7.9% YoY. Source: county tax records.