411 Ellwood Ave · Baltimore, MD 21224

$30,000

3 bd · 2.0 ba · 1,040 sqft · Townhouse public records · 21 Days on market

Built 1920 884 sqft lot ↓ 30% since listing

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• 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

Must see great investment opportunity! This property is recently updated, lead free and ready to move in, located on the quite street. Easy cash flow for investors or a great buy for a first time home owners. New cabinets, hardwood floors, mechanicals 1 year old. Please submit Cash or Hard money offers only. This property sold AS IS.

Key facts

• Built 1920
• Listed 21 days

Property features AI

Finance

• Other: Total below grade area: 520; Above-grade finished area: 1,040; Below-grade unfinished area: 520
• Financial info: Improvement assessed value: $92,000; Land assessed value: $35,000; Tax assessed value: $125,133 (tax year 2025)
• HOA & community: Ground rent paid annually

Exterior

• Utilities: Public water; Public sewer
• Home design: Interior townhouse/rowhouse; Fee simple ownership
• Construction: Brick construction; Other foundation; Year built source: Assessor
• Exterior features: Porch(es); Other structures above and below grade

Interior

• Bedrooms: Three bedrooms on the upper level
• Bathrooms: Two full bathrooms (one on upper level, one on lower level)
• Heating & cooling: Other heating; Other cooling; Hot water: Other
• Interior features: Full basement, partially finished; Living area source: Assessor

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $30k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $30k).
• Recommended offer: $30k (1.5% below list) — sets the bar for market timing.
• Cap rate 63.8% 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 (+1.3%/yr); 391 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); 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 $207 of loan paydown is wiped out by about $900 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 + 1.3% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($30k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y 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 $29,550 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 6.94% ✓
• Cap rate: 63.78%
• Cash-on-cash: 205.32%
• DSCR: 10.14
• GRM: 1.2

CMA / ARV

• ARV (on-the-fly): $156,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
629 N Kenwood Ave	0.28mi	2/1.5 (-1)	1,100 (+6%)	1mo	$76,500	$70	70
735 N Lakewood Ave	0.39mi	3/1.5	970 (-7%)	2mo	$80,000	$82	67
14 S Curley St	0.34mi	2/1.0 (-1)	1,092 (+5%)	1mo	$269,000	$246	66
134 N Curley St	0.20mi	2/2.0 (-1)	1,170 (+12%)	1mo	$270,000	$231	64
155 N Streeper St	0.23mi	2/2.0 (-1)	912 (-12%)	0mo	$220,000	$241	64
111 N Highland Ave	0.27mi	3/1.5	1,170 (+12%)	1mo	$105,000	$90	63
2703 Jefferson St	0.29mi	3/1.0	1,170 (+12%)	2mo	$102,500	$88	60
309 S Fagley St	0.72mi	2/2.0 (-1)	1,030 (-1%)	1mo	$225,000	$218	59
149 N Highland Ave	0.24mi	2/1.0 (-1)	1,170 (+12%)	1mo	$75,000	$64	58
2712 Ashland Ave	0.46mi	3/1.5	1,164 (+12%)	1mo	$175,000	$150	56
2736 Mura St	0.70mi	3/2.0	1,120 (+8%)	0mo	$81,000	$72	54
410 N Patterson Park Ave	0.63mi	3/1.0	1,180 (+14%)	0mo	$180,000	$153	44

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: —
• Equity multiple: 10.91×
• Total profit: $83,229
• Equity at exit: $4,473

10-year hold

• IRR: —
• Equity multiple: 22.03×
• Total profit: $176,666
• Equity at exit: $2,594

Cash invested: $8,400 (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 21224

• Rents YoY: 1.3%
• Active inventory: 391
• Price-to-rent: 1.2×

Monthly cashflow live

• Estimated rent: $2,082 high
• Mortgage (P&I): −$157
• Tax est. 1.5%: −$38 /mo · $450/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$437
• Net cashflow: $1,437

Break-even live

Break-even rent $262

Max offer price $30,000

Occupancy floor 26%

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
404 N Robinson St Baltimore, MD	3.0	3.0	1320	$2,200	$1.67	23d	1	0.01mi
404 N Robinson St Baltimore, MD	3.0	3.0	1320	$2,100	$1.59	16d	1	0.01mi
203 N Ellwood Ave Unit Main Baltimore, MD	2.0	2.0	880	$2,200	$2.50	23d	1	0.08mi
520 N Decker Ave Baltimore, MD	2.0	1.0	1000	$1,650	$1.65	43d	1	0.13mi
3205 Esther Pl Baltimore, MD	2.0	2.0	960	$1,850	$1.93	23d	1	0.15mi
3304 McElderry St Baltimore, MD	3.0	2.0	1413	$1,900	$1.34	43d	1	0.19mi
150 N Curley St Baltimore, MD	2.0	2.5	1266	$1,850	$1.46	17d	1	0.19mi
29 N Ellwood Ave Baltimore, MD	3.0	1.5	1100	$2,395	$2.18	23d	1	0.19mi
113 N Clinton St Baltimore, MD	2.0	1.0	1300	$1,995	$1.53	43d	1	0.20mi
17 N East Ave Baltimore, MD	2.0	2.0	1326	$2,550	$1.92	23d	1	0.20mi
2815 Orleans St Baltimore, MD	2.0	1.0	1204	$1,600	$1.33	1d	1	0.21mi
2800 Orleans St Baltimore, MD	3.0	1.0	1404	$1,600	$1.14	14d	1	0.24mi
2800 Orleans St Baltimore, MD	3.0	1.0	1404	$1,600	$1.14	17d	1	0.24mi
1 N Clinton St Baltimore, MD	4.0	1.5	1200	$1,700	$1.42	19d	1	0.25mi
2934 E Monument St Baltimore, MD	2.0	1.0	1200	$1,499	$1.25	43d	1	0.26mi
34 N Linwood Ave Baltimore, MD	2.0	1.5	1288	$2,400	$1.86	23d	1	0.27mi
415 N Belnord Ave Baltimore, MD	2.0	1.0	1008	$1,300	$1.29	23d	1	0.29mi
718 N Curley St Baltimore, MD	3.0	3.0	1500	$2,000	$1.33	4d	1	0.31mi
724 N Curley St Baltimore, MD	3.0	3.0	1500	$2,200	$1.47	4d	1	0.31mi
10 N Streeper St Baltimore, MD	3.0	2.5	1440	$2,500	$1.74	23d	1	0.32mi
531 N Belnord Ave Baltimore, MD	2.0	1.5	1100	$1,700	$1.55	23d	1	0.32mi
3430 E Baltimore St Baltimore, MD	3.0	2.5	1316	$2,250	$1.71	23d	1	0.33mi
139 N Lakewood Ave Baltimore, MD	4.0	2.5	1370	$2,500	$1.82	43d	1	0.35mi
139 N Lakewood Ave Unit 1 Baltimore, MD	4.0	2.0	1370	$2,500	$1.82	43d	1	0.35mi
106 S Bouldin St Baltimore, MD	2.0	3.0	1134	$2,100	$1.85	20d	1	0.35mi
2815 E Madison St Baltimore, MD	4.0	2.0	1300	$2,500	$1.92	43d	1	0.37mi
415 N Glover St Baltimore, MD	2.0	2.5	1092	$1,600	$1.47	23d	1	0.37mi
127 S Robinson St Baltimore, MD	2.0	1.5	1400	$2,000	$1.43	43d	1	0.37mi
102 S Curley St Baltimore, MD	2.0	1.5	1200	$1,800	$1.50	4d	1	0.37mi
627 N Lakewood Ave Baltimore, MD	3.0	2.5	1175	$1,900	$1.62	21d	1	0.37mi
3413 Leverton Ave Baltimore, MD	2.0	1.0	832	$1,000	$1.20	23d	1	0.38mi
3436 Leverton Ave Baltimore, MD	3.0	3.5	1500	$2,350	$1.57	23d	1	0.38mi
2608 E Fayette St Unit 1 Baltimore, MD	2.0	1.0	900	$1,700	$1.89	14d	1	0.39mi
218 N Glover St Baltimore, MD	2.0	2.0	1360	$1,750	$1.29	43d	1	0.39mi
127 N Glover St Baltimore, MD	2.0	1.5	1110	$2,100	$1.89	2d	1	0.39mi
502 N Glover St Baltimore, MD	2.0	1.5	827	$1,250	$1.51	20d	1	0.40mi
225 N Luzerne Ave Baltimore, MD	3.0	1.0	1198	$1,350	$1.13	19d	1	0.40mi
2608 McElderry St Baltimore, MD	3.0	1.0	1144	$1,550	$1.35	23d	1	0.42mi
227 N Rose St Baltimore, MD	2.0	4.0	1420	$1,600	$1.13	23d	1	0.44mi
233 N Rose St Baltimore, MD	2.0	2.5	934	$1,750	$1.87	17d	1	0.45mi

Listing history 23 events

1. 2026-06-18
   days on market $30,000 Active 21 DOM
2. 2026-06-17
   days on market $30,000 Active 20 DOM
3. 2026-06-16
   days on market $30,000 Active 19 DOM
4. 2026-06-15
   days on market $30,000 Active 18 DOM
5. 2026-06-13
   days on market $30,000 Active 16 DOM
6. 2026-06-09
   days on market $30,000 Active 12 DOM
7. 2026-06-08
   days on market $30,000 Active 11 DOM
8. 2026-06-07
   days on market $30,000 Active 10 DOM
9. 2026-06-04
   days on market $30,000 Active 7 DOM
10. 2026-06-03
    days on market $30,000 Active 6 DOM
11. 2026-06-02
    days on market $30,000 Active 5 DOM
12. 2026-06-01
    days on market $30,000 Active 4 DOM
13. 2026-05-31
    days on market $30,000 Active 3 DOM
14. 2026-05-28
    listed $30,000 Active
15. 2017-02-01
    soldstatus $50,000
16. 2017-01-02
    historical 335-char remark

    Show marketing remark (335 chars)

    Must see great investment opportunity! This property is recently updated, lead free and ready to move in, located on the quite street. Easy cash flow for investors or a great buy for a first time home owners. New cabinets, hardwood floors, mechanicals 1 year old. Please submit Cash or Hard money offers only. This property sold AS IS.

17. 2016-12-30
    soldstatus $50,000 335-char remark

    Show marketing remark (335 chars)

    Must see great investment opportunity! This property is recently updated, lead free and ready to move in, located on the quite street. Easy cash flow for investors or a great buy for a first time home owners. New cabinets, hardwood floors, mechanicals 1 year old. Please submit Cash or Hard money offers only. This property sold AS IS.

18. 2016-12-30
    soldstatus $50,000 Sold 335-char remark

    Show marketing remark (335 chars)

    Must see great investment opportunity! This property is recently updated, lead free and ready to move in, located on the quite street. Easy cash flow for investors or a great buy for a first time home owners. New cabinets, hardwood floors, mechanicals 1 year old. Please submit Cash or Hard money offers only. This property sold AS IS.

19. 2016-12-01
    status Contract 335-char remark

    Show marketing remark (335 chars)

    Must see great investment opportunity! This property is recently updated, lead free and ready to move in, located on the quite street. Easy cash flow for investors or a great buy for a first time home owners. New cabinets, hardwood floors, mechanicals 1 year old. Please submit Cash or Hard money offers only. This property sold AS IS.

20. 2016-07-19
    price $54,900 335-char remark

    Show marketing remark (335 chars)

    Must see great investment opportunity! This property is recently updated, lead free and ready to move in, located on the quite street. Easy cash flow for investors or a great buy for a first time home owners. New cabinets, hardwood floors, mechanicals 1 year old. Please submit Cash or Hard money offers only. This property sold AS IS.

21. 2016-06-23
    listed $59,000 Active 335-char remark

    Show marketing remark (335 chars)

    Must see great investment opportunity! This property is recently updated, lead free and ready to move in, located on the quite street. Easy cash flow for investors or a great buy for a first time home owners. New cabinets, hardwood floors, mechanicals 1 year old. Please submit Cash or Hard money offers only. This property sold AS IS.

22. 2016-06-22
    listed $54,900 335-char remark

    Show marketing remark (335 chars)

    Must see great investment opportunity! This property is recently updated, lead free and ready to move in, located on the quite street. Easy cash flow for investors or a great buy for a first time home owners. New cabinets, hardwood floors, mechanicals 1 year old. Please submit Cash or Hard money offers only. This property sold AS IS.

23. 1995-12-13
    soldstatus $43,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $24,981
• − Mortgage interest: −$1,680
• − Property taxes: −$450
• − Insurance: −$150
• − Repairs & maintenance: −$1,998
• − Management: −$1,998
• − Depreciation: −$873
• Taxable income: $17,831
• Est. tax owed @ 24.0%: −$4,279
• After-tax cash flow: $12,968/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

-30.2% since first listed

10 events — show timeline

• 2026-05-28 Listed $30,000 BRIGHT MLS
• 2017-02-01 Sold (Public Records) $50,000 Public Records
• 2017-01-02 Listing Removed — BRIGHT MLS
• 2016-12-30 Sold (MLS) $50,000 MRIS
• 2016-12-30 Sold (MLS) $50,000 BRIGHT MLS
• 2016-12-01 Pending — MRIS
• 2016-07-19 Price Changed $54,900 MRIS
• 2016-06-23 Listed $59,000 MRIS
• 2016-06-22 Listed $54,900 BRIGHT MLS
• 1995-12-13 Sold (Public Records) $43,000 Public Records

Property tax history

+2.6%/yr

Latest (2025): $2,917 · +6.2% YoY. Source: county tax records.