10 N Milton Ave · Baltimore, MD 21224

$225,000

3 bd · 1.0 ba · 1,232 sqft · Townhouse public records · 51 Days on market

Built 1920 $183/sqft · 18% below area Est $276k · 18% under

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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 +19.0/30.0
• ARV discount +15.0/15.0
• DSCR +6.0/10.0
• 1% rule +4.3/10.0
• 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

PRICE REDUCED! Nestled in the heart of a vibrant community, and steps away from Patterson Park. Step inside to discover a warm and inviting atmosphere, where natural light dances through the windows, illuminating the rich character of the home. The partially finished basement provides a versatile space, waiting for your finishing touch. Outside, the charming brick façade exudes timeless appeal, while the surrounding neighborhood offers a rich tapestry of local amenities, parks, and cultural attractions. Enjoy leisurely strolls through tree-lined streets or indulge in the vibrant dining and shopping options just moments away. Parking is a breeze with parking pad at the back of the hou

Key facts

• Built 1920
• Listed 51 days

Property features AI

Finance

• Other: Lease not considered

Exterior

• Parking: On-street parking; Other parking
• Utilities: Public water; Public sewer
• Home design: Interior townhouse/rowhouse; Estimated year built
• Construction: Brick construction; Other foundation
• Exterior features: Townhouse/rowhouse setting; No tidal water on the lot; Other above- and below-grade structures; Irrigation water rights

Interior

• Bedrooms: Three bedrooms on the main level
• Bathrooms: One full bathroom on the main level; One half bathroom on the main level; One full bathroom total; One half bathroom total
• Heating & cooling: Forced air heating (natural gas); Central air conditioning (natural gas); Natural gas hot water
• Interior features: Partially finished basement; Level entry to main level; Not in a federal flood zone; Fee simple ownership

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $225k.

Deal economics

• At list price, monthly cash flow is $236 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $210k (6.8% below list).
• Recommended offer: $210k (6.8% below list) — sets the bar for 1% rule.
• Cap rate 7.6% vs local median 6.0% in Baltimore — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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); 393 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); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $2k of loan paydown is wiped out by about $7k 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 51 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $35k; list at $225k implies a 543% gain — meaningful room to come down on a strong offer.

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 $209,773 (6.8% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 7% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.93% ✗
• Cap rate: 7.55%
• Cash-on-cash: 4.49%
• DSCR: 1.20
• GRM: 8.9

CMA / ARV

• ARV (median comp): $275,667
• List price: $225,000
• Delta: -18.38%
• 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
2435 Jefferson St	0.28mi	3/1.0	1,260 (+2%)	1mo	$140,000	$111	82
410 N Patterson Park Ave	0.28mi	3/1.0	1,180 (-4%)	0mo	$180,000	$153	80
122 Ellwood Ave	0.47mi	3/1.5	1,200 (-3%)	0mo	$235,000	$196	72
220 N Luzerne Ave	0.20mi	3/1.0	1,372 (+11%)	1mo	$120,000	$87	71
410 N Chester St	0.39mi	2/1.5 (-1)	1,260 (+2%)	1mo	$180,000	$143	70
145 N Milton Ave	0.11mi	2/2.0 (-1)	1,353 (+10%)	1mo	$260,000	$192	69
325 S Castle St	0.47mi	2/1.5 (-1)	1,196 (-3%)	0mo	$275,000	$230	66
280 S Robinson St	0.58mi	2/1.0 (-1)	1,282 (+4%)	1mo	$294,000	$229	61
2428 Fleet St	0.50mi	2/2.5 (-1)	1,300 (+6%)	1mo	$285,000	$219	56
629 N Kenwood Ave	0.48mi	2/1.5 (-1)	1,100 (-11%)	1mo	$76,500	$70	52
18 S Washington St	0.40mi	3/3.0	1,410 (+14%)	0mo	$318,000	$226	49
2731 Fait Ave	0.70mi	2/2.0 (-1)	1,097 (-11%)	0mo	$285,000	$260	40

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: -11.1%
• Equity multiple: 0.60×
• Total profit: $-24,999
• Equity at exit: $33,548

10-year hold

• IRR: -4.3%
• Equity multiple: 0.74×
• Total profit: $-16,548
• Equity at exit: $19,454

Cash invested: $63,000 (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 21224

• Rents YoY: 1.3%
• Active inventory: 393
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,098 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$148 /mo · $1,773/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $236

Break-even live

Break-even rent $1,799

Max offer price $225,000

Occupancy floor 84%

Sensitivity live

Price	-10% $363	-5% $300	+0% $236	+5% $172	+10% $108
Rent	-10% $70	-5% $153	+0% $236	+5% $319	+10% $402
Rate	-1.0pp $349	-0.5pp $293	base $236	+0.5pp $178	+1.0pp $118

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9 N Luzerne Ave Baltimore, MD	3.0	2.5	1380	$2,450	$1.78	5d	1	0.10mi
107 N Port St Baltimore, MD	2.0	2.0	870	$1,995	$2.29	25d	1	0.11mi
104 N Rose St Baltimore, MD	3.0	2.0	936	$2,500	$2.67	45d	1	0.11mi
16 N Bradford St Baltimore, MD	2.0	3.5	930	$2,400	$2.58	5d	1	0.12mi
2242 E Fairmount Ave Baltimore, MD	3.0	2.0	1345	$2,850	$2.12	45d	1	0.18mi
127 N Glover St Baltimore, MD	2.0	1.5	1110	$2,100	$1.89	4d	1	0.18mi
2410 E Fayette St Baltimore, MD	3.0	1.0	1224	$1,800	$1.47	45d	1	0.19mi
2317 E Fayette St Baltimore, MD	3.0	1.5	1315	$2,000	$1.52	13d	1	0.19mi
139 N Lakewood Ave Unit 1 Baltimore, MD	4.0	2.0	1370	$2,500	$1.82	45d	1	0.22mi
139 N Lakewood Ave Baltimore, MD	4.0	2.5	1370	$2,500	$1.82	45d	1	0.22mi
2608 E Fayette St Unit 1 Baltimore, MD	2.0	1.0	900	$1,700	$1.89	16d	1	0.22mi
108 N Madeira St Baltimore, MD	2.0	2.0	1098	$1,900	$1.73	45d	1	0.22mi
224 N Rose St Baltimore, MD	2.0	2.5	1120	$1,875	$1.67	19d	1	0.22mi
227 N Rose St Baltimore, MD	2.0	4.0	1420	$1,600	$1.13	25d	1	0.23mi
230 N Rose St Baltimore, MD	2.0	1.5	1200	$1,545	$1.29	45d	1	0.23mi
225 N Luzerne Ave Baltimore, MD	3.0	1.0	1198	$1,350	$1.13	20d	1	0.23mi
233 N Rose St Baltimore, MD	2.0	2.5	934	$1,750	$1.87	19d	1	0.23mi
218 N Glover St Baltimore, MD	2.0	2.0	1360	$1,750	$1.29	45d	1	0.24mi
402 N Milton Ave Unit 402B Baltimore, MD	2.0	1.0	950	$1,290	$1.36	45d	1	0.26mi
10 N Streeper St Baltimore, MD	3.0	2.5	1440	$2,500	$1.74	25d	1	0.27mi
211 S Madeira St Baltimore, MD	2.0	1.0	819	$1,650	$2.01	5d	1	0.27mi
227 S Madeira St Baltimore, MD	2.0	2.5	1100	$2,200	$2.00	45d	1	0.28mi
425 N Milton Ave Baltimore, MD	3.0	1.0	1200	$1,525	$1.27	16d	1	0.29mi
437 N Montford Ave Baltimore, MD	3.0	1.5	1100	$1,450	$1.32	45d	1	0.31mi
34 N Linwood Ave Baltimore, MD	2.0	1.5	1288	$2,400	$1.86	25d	1	0.31mi
420 N Montford Ave Baltimore, MD	3.0	1.0	1350	$1,450	$1.07	45d	1	0.31mi
415 N Glover St Baltimore, MD	2.0	2.5	1092	$1,600	$1.47	25d	1	0.32mi
2208 Orleans St Baltimore, MD	3.0	1.0	1310	$1,775	$1.35	45d	1	0.33mi
102 S Curley St Baltimore, MD	2.0	1.5	1200	$1,800	$1.50	5d	1	0.35mi
2308 Jefferson St Baltimore, MD	3.0	1.0	907	$1,450	$1.60	45d	1	0.35mi
415 N Belnord Ave Baltimore, MD	2.0	1.0	1008	$1,300	$1.29	25d	1	0.36mi
406 N Collington Ave Baltimore, MD	2.0	2.5	1216	$1,875	$1.54	45d	1	0.37mi
2015 E Fairmount Ave Baltimore, MD	3.0	3.5	1402	$2,500	$1.78	45d	1	0.37mi
305 S Collington Ave Baltimore, MD	3.0	2.5	722	$2,895	$4.01	18d	1	0.37mi
2800 Orleans St Baltimore, MD	3.0	1.0	1404	$1,600	$1.14	19d	1	0.37mi
2800 Orleans St Baltimore, MD	3.0	1.0	1404	$1,600	$1.14	16d	1	0.37mi
502 N Glover St Baltimore, MD	2.0	1.5	827	$1,250	$1.51	21d	1	0.37mi
150 N Curley St Baltimore, MD	2.0	2.5	1266	$1,850	$1.46	19d	1	0.37mi
517 N Rose St Baltimore, MD	3.0	1.0	845	$1,400	$1.66	5d	1	0.37mi
2815 Orleans St Baltimore, MD	2.0	1.0	1204	$1,600	$1.33	3d	1	0.37mi

Listing history 18 events

1. 2026-06-21
   statusdays on market $225,000 Pending 51 DOM
2. 2026-06-18
   days on market $225,000 Active 49 DOM
3. 2026-06-17
   days on market $225,000 Active 48 DOM
4. 2026-06-16
   days on market $225,000 Active 47 DOM
5. 2026-06-15
   days on market $225,000 Active 46 DOM
6. 2026-06-13
   days on market $225,000 Active 44 DOM
7. 2026-06-09
   days on market $225,000 Active 40 DOM
8. 2026-06-08
   days on market $225,000 Active 39 DOM
9. 2026-06-07
   days on market $225,000 Active 38 DOM
10. 2026-06-04
    days on market $225,000 Active 35 DOM
11. 2026-06-03
    days on market $225,000 Active 34 DOM
12. 2026-06-02
    days on market $225,000 Active 33 DOM
13. 2026-06-01
    days on market $225,000 Active 32 DOM
14. 2026-05-31
    days on market $225,000 Active 31 DOM
15. 2026-05-17
    price $225,000 887-char remark
16. 2026-05-01
    listed $249,900 Active 887-char remark
17. 2026-04-29
    historical $249,900 887-char remark
18. 1989-07-13
    soldstatus $35,000

ⓘ 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: $1,773 · $148/mo
• Projected year-2 tax: $2,113 · $176/mo
• Expected delta: +$340/yr (+$28/mo · 19.2%)

ⓘ 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: $25,173
• − Mortgage interest: −$12,603
• − Property taxes: −$1,773
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,014
• − Management: −$2,014
• − Depreciation: −$6,545
• Taxable loss: −$901
• Est. tax savings @ 24.0%: +$216
• After-tax cash flow: $3,046/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

+542.9% since first listed

4 events — show timeline

• 2026-05-17 Price Changed $225,000 BRIGHT MLS
• 2026-05-01 Listed $249,900 BRIGHT MLS
• 2026-04-29 Coming Soon $249,900 BRIGHT MLS
• 1989-07-13 Sold (Public Records) $35,000 Public Records

Property tax history

-3.5%/yr

Latest (2025): $1,773 · +4.5% YoY. Source: county tax records.