1627 S Hanover St · Baltimore, MD 21230

$179,900

4 bd · 1.0 ba · 1,380 sqft · Townhouse public records · 67 Days on market

Built 1900 982 sqft lot $130/sqft · 47% below area Est $336k · 47% 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 +29.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 MLS

Don’t miss this prime rehab opportunity in the highly sought-after South Baltimore area. This classic Baltimore row-home offers 4 levels of living space—a rare find with incredible upside potential. The main level features a traditional floor plan with spacious living and dining areas, along with a kitchen ready for your vision. The second level includes two well-appointed bedrooms and a full bathroom, while the third level offers two additional bedrooms—providing excellent space and flexibility. The unfinished lower level houses utilities and offers ample storage. As an added bonus, the property features a fenced rear yard, perfect for entertaining or creating a private outdoor retreat. South Baltimore offers unbeatable convenience to major employers, waterfront parks, restaurants, healthcare, schools, and vibrant nightlife—all within close proximity. Whether you're commuting, exploring the city, or enjoying the neighborhood, this location truly delivers on both lifestyle and accessibility.

Key facts

• Fenced rear yard
• Built 1900
• Listed 67 days

Tags

• FENCED REAR YARD
• PRIVATE OUTDOOR RETREAT
• CLOSE PROXIMITY TO RESTAURANTS
• CLOSE PROXIMITY TO HEALTHCARE
• CLOSE PROXIMITY TO SCHOOLS

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath townhouse listed at $180k.

Deal economics

• At list price, monthly cash flow is $614 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $180k).
• Recommended offer: $169k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.4% 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 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).
• This rent runs 36% of the median local income ($92k/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 $1k of loan paydown is wiped out by about $5k 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 67 days — a 6% lower offer ($169k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $57k; list at $180k implies a 216% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; 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 $169,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.55% ✓
• Cap rate: 10.39%
• Cash-on-cash: 14.64%
• DSCR: 1.65
• GRM: 5.4

CMA / ARV

• ARV (median comp): $336,327
• List price: $179,900
• Delta: -46.51%
• 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
17 W Fort Ave	0.10mi	3/1.5 (-1)	1,224 (-11%)	3mo	$288,000	$235	67
442 E Fort Ave	0.44mi	4/3.5	1,348 (-2%)	3mo	$585,000	$434	63
1271 Battery Ave	0.40mi	3/— (-1)	1,492 (+8%)	1mo	$415,000	$278	62
1614 Clarkson St	0.07mi	3/3.0 (-1)	1,564 (+13%)	4mo	$358,500	$229	59
1043 Riverside Ave	0.56mi	3/2.5 (-1)	1,356 (-2%)	4mo	$310,000	$229	56
122 E Ostend St	0.34mi	3/2.5 (-1)	1,520 (+10%)	0mo	$450,000	$296	56
14 E Hamburg St E	0.50mi	3/2.0 (-1)	1,290 (-6%)	4mo	$287,500	$223	53
1523 William St	0.29mi	3/3.0 (-1)	1,558 (+13%)	2mo	$385,000	$247	50
410 E Fort Ave	0.40mi	3/1.5 (-1)	1,209 (-12%)	5mo	$170,000	$141	50
421 Folsom St	0.48mi	3/3.5 (-1)	1,508 (+9%)	5mo	$475,000	$315	43
616 Hyson St	0.58mi	4/3.0	1,584 (+15%)	2mo	$405,000	$256	39
100 Harborview Dr #814	0.73mi	3/2.0 (-1)	1,543 (+12%)	4mo	$295,000	$191	34

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: 1.1%
• Equity multiple: 1.04×
• Total profit: $2,065
• Equity at exit: $26,824

10-year hold

• IRR: 6.8%
• Equity multiple: 1.43×
• Total profit: $21,643
• Equity at exit: $15,554

Cash invested: $50,372 (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: 5.4×

Monthly cashflow live

• Estimated rent: $2,788 high
• Mortgage (P&I): −$943
• Tax from tax record: −$570 /mo · $6,840/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$586
• Net cashflow: $614

Break-even live

Break-even rent $2,011

Max offer price $179,900

Occupancy floor 73%

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1608 S Hanover St Baltimore, MD	3.0	3.5	1346	$3,000	$2.23	17d	1	0.03mi
1725 S Hanover St Baltimore, MD	3.0	3.5	1704	$3,090	$1.81	43d	1	0.07mi
22 E Heath St Baltimore, MD	3.0	2.5	1800	$2,900	$1.61	12d	1	0.09mi
1746 S Hanover St Baltimore, MD	3.0	2.0	1490	$2,700	$1.81	10d	1	0.10mi
1617 Patapsco St Baltimore, MD	3.0	3.0	1537	$2,500	$1.63	1d	1	0.11mi
1703 Patapsco St Baltimore, MD	4.0	4.5	960	$3,000	$3.12	23d	1	0.13mi
1839 S Charles St Baltimore, MD	3.0	2.5	1238	$2,600	$2.10	43d	1	0.18mi
1600 Light St Unit C Baltimore, MD	3.0	2.0	1500	$1,800	$1.20	10d	1	0.18mi
1403 Race St Baltimore, MD	3.0	3.0	1008	$2,200	$2.18	43d	1	0.18mi
1900 S Hanover St Baltimore, MD	3.0	1.0–2.0	875	$3,932	$4.49	1d	66	0.19mi
2 W Clement St Baltimore, MD	3.0	3.5	1866	$3,400	$1.82	17d	1	0.20mi
118 E Gittings St Baltimore, MD	3.0	2.5	1148	$2,600	$2.26	23d	1	0.31mi
1201 S Charles St Baltimore, MD	2.0–3.0	2.0	1341	$2,350	$1.75	4d	4	0.32mi
14 Poultney St Baltimore, MD	3.0	2.5	1344	$2,500	$1.86	12d	1	0.47mi
1153 Riverside Ave Baltimore, MD	4.0	2.0	1838	$2,800	$1.52	43d	1	0.49mi
02 W Henrietta St Unit B Baltimore, MD	3.0	2.0	1500	$2,000	$1.33	17d	1	0.56mi
301 Warren Ave Baltimore, MD	1.0–3.0	1.0–2.5	1533	$3,865	$2.52	1d	9	0.61mi
651 E Clement St Baltimore, MD	3.0	3.5	1292	$2,800	$2.17	43d	1	0.62mi
117 E Cromwell St Unit A Baltimore, MD	3.0	2.5	1603	$3,750	$2.34	43d	1	0.63mi
2500 Insulator Dr Baltimore, MD	3.0	1.0–2.0	988	$4,786	$4.84	2d	152	0.63mi
724 S Hanover St Baltimore, MD	3.0	2.5	1351	$2,895	$2.14	43d	1	0.63mi
1465 Stevenson St Baltimore, MD	3.0	1.5	1250	$2,399	$1.92	20d	1	0.92mi
1125 Wicomico St Baltimore, MD	3.0	3.0	1068	$1,955	$1.83	23d	1	0.95mi
812 S Paca St Baltimore, MD	3.0	2.0	990	$1,500	$1.52	12d	1	0.97mi
638 S Paca St Unit 2404866494 Baltimore, MD	3.0	1.5	1100	$2,200	$2.00	43d	1	0.99mi
709 Scott St Baltimore, MD	3.0	2.5	1448	$2,500	$1.73	23d	1	1.02mi
709 Scott St Baltimore, MD	3.0	3.0	1448	$2,500	$1.73	14d	1	1.02mi
610 Scott St Baltimore, MD	5.0	3.0	1700	$2,750	$1.62	12d	1	1.06mi
662 Washington Blvd Baltimore, MD	4.0	2.5	1300	$2,700	$2.08	43d	1	1.07mi
519 Scott St Unit 2 Baltimore, MD	3.0	3.0	1600	$3,000	$1.88	43d	1	1.07mi
508 Wyeth St Baltimore, MD	3.0	3.0	1234	$1,850	$1.50	43d	1	1.12mi
636 Portland St Baltimore, MD	4.0	2.0	1545	$2,650	$1.72	23d	1	1.13mi
827 Washington Blvd Baltimore, MD	3.0	1.0	1512	$2,000	$1.32	23d	1	1.14mi
1402 Point St Baltimore, MD	2.0–3.0	2.5–3.0	1470	$5,730	$3.90	2d	3	1.16mi
324 Scott St Baltimore, MD	4.0	2.5	1656	$3,000	$1.81	43d	1	1.17mi
819 Ramsay St Baltimore, MD	4.0	3.5	1856	$3,000	$1.62	12d	1	1.18mi
555 President St Baltimore, MD	3.0	1.0–4.0	1352	$5,373	$3.97	2d	1	1.18mi
1226 W Cross St Baltimore, MD	3.0	3.0	1551	$2,250	$1.45	43d	1	1.19mi
748 McHenry St Baltimore, MD	3.0	2.0	1288	$2,100	$1.63	4d	1	1.19mi
22 Light St Baltimore, MD	2.0–3.0	1.0–2.0	956	$1,395	$1.46	2d	1	1.20mi

Listing history 10 events

1. 2026-06-07
   statusdays on market $179,900 Pending 67 DOM
2. 2026-06-04
   days on market $179,900 Active 65 DOM
3. 2026-06-03
   days on market $179,900 Active 64 DOM
4. 2026-06-02
   days on market $179,900 Active 63 DOM
5. 2026-06-01
   days on market $179,900 Active 62 DOM
6. 2026-05-31
   days on market $179,900 Active 61 DOM
7. 2026-05-15
   price $179,900 1030-char remark

   Show marketing remark (1030 chars)

   Don’t miss this prime rehab opportunity in the highly sought-after South Baltimore area. This classic Baltimore row-home offers 4 levels of living space—a rare find with incredible upside potential. The main level features a traditional floor plan with spacious living and dining areas, along with a kitchen ready for your vision. The second level includes two well-appointed bedrooms and a full bathroom, while the third level offers two additional bedrooms—providing excellent space and flexibility. The unfinished lower level houses utilities and offers ample storage. As an added bonus, the property features a fenced rear yard, perfect for entertaining or creating a private outdoor retreat. South Baltimore offers unbeatable convenience to major employers, waterfront parks, restaurants, healthcare, schools, and vibrant nightlife—all within close proximity. Whether you're commuting, exploring the city, or enjoying the neighborhood, this location truly delivers on both lifestyle and accessibility.

8. 2026-03-31
   listed $105,000 Active 1030-char remark

   Show marketing remark (1030 chars)

   Don’t miss this prime rehab opportunity in the highly sought-after South Baltimore area. This classic Baltimore row-home offers 4 levels of living space—a rare find with incredible upside potential. The main level features a traditional floor plan with spacious living and dining areas, along with a kitchen ready for your vision. The second level includes two well-appointed bedrooms and a full bathroom, while the third level offers two additional bedrooms—providing excellent space and flexibility. The unfinished lower level houses utilities and offers ample storage. As an added bonus, the property features a fenced rear yard, perfect for entertaining or creating a private outdoor retreat. South Baltimore offers unbeatable convenience to major employers, waterfront parks, restaurants, healthcare, schools, and vibrant nightlife—all within close proximity. Whether you're commuting, exploring the city, or enjoying the neighborhood, this location truly delivers on both lifestyle and accessibility.

9. 1989-09-28
   soldstatus $57,000
10. 1987-04-20
    soldstatus $16,500

ⓘ 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: $6,840 · $570/mo
• Projected year-2 tax: $6,840 · $570/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 ≥102°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: $33,460
• − Mortgage interest: −$10,077
• − Property taxes: −$6,840
• − Insurance: −$900
• − Repairs & maintenance: −$2,677
• − Management: −$2,677
• − Depreciation: −$5,233
• Taxable income: $5,057
• Est. tax owed @ 24.0%: −$1,214
• After-tax cash flow: $6,160/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

+990.3% since first listed

4 events — show timeline

• 2026-05-15 Price Changed $179,900 BRIGHT MLS
• 2026-03-31 Listed $105,000 BRIGHT MLS
• 1989-09-28 Sold (Public Records) $57,000 Public Records
• 1987-04-20 Sold (Public Records) $16,500 Public Records

Property tax history

+0.1%/yr

Latest (2025): $6,840 · +4.9% YoY. Source: county tax records.