2436 E Preston St · Baltimore, MD 21213

$165,000

3 bd · 1.0 ba · 702 sqft · Townhouse public records · 153 Days on market

Built 1890 871 sqft lot $235/sqft · 82% above area Est $155k · 6% over

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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 +26.8/30.0
• DSCR +9.2/10.0
• 1% rule +6.3/10.0
• ARV discount +4.7/15.0
• Appreciation +4.7/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0

Listing remarks MLS

* * * INVESTMENT OPPORTUNITY * * * Current Rental Income Included!!!

Key facts

• Built 1890
• Listed 153 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $165k.

Deal economics

• At list price, monthly cash flow is $386 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $145k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.6% 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 (+5.2%/yr); 319 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• This rent runs 43% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $204 of equity ($1k loan paydown + $-937 appreciation (-0.6% local appreciation)).
• Baltimore County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-0.6% appreciation + 5.2% rent growth), your $46k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 153 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 24y 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.
• Current owner paid $80k; list at $165k implies a 106% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $145,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 153 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 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.13% ✓
• Cap rate: 9.58%
• Cash-on-cash: 11.74%
• DSCR: 1.52
• GRM: 7.4

CMA / ARV

• ARV (median comp): $155,318
• List price: $165,000
• Delta: 6.23%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2305 Ashland Ave	0.37mi	3/1.0	616 (-12%)	4mo	$78,000	$127	59
1614 N Port St	0.25mi	3/1.0	800 (+14%)	20mo	$25,000	$31	49
506 N Patterson Park Ave	0.64mi	3/1.5	640 (-9%)	8mo	$78,000	$122	47

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.57% appreciation · 5.25% rent growth · sell at horizon

5-year hold

• IRR: 9.1%
• Equity multiple: 1.43×
• Total profit: $19,677
• Equity at exit: $43,278

10-year hold

• IRR: 16.3%
• Equity multiple: 2.82×
• Total profit: $84,071
• Equity at exit: $48,455

Cash invested: $46,200 (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 21213

• Home prices YoY: -0.1%
• Rents YoY: 5.2%
• Active inventory: 319
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,859 high
• Mortgage (P&I): −$865
• Tax from tax record: −$82 /mo · $986/yr
• Insurance: −$69
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$390
• Net cashflow: $386

Break-even live

Break-even rent $1,370

Max offer price $165,000

Occupancy floor 74%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2221 E Preston St Baltimore, MD	2.0	1.0	658	$1,200	$1.82	23d	1	0.19mi
2410 E Federal St Baltimore, MD	4.0	2.0	720	$2,200	$3.06	23d	1	0.22mi
500 N Rose St Baltimore, MD	3.0	2.0	520	$1,200	$2.31	4d	1	0.62mi
1607 Hakesley Pl Baltimore, MD	3.0	1.0	720	$1,400	$1.94	43d	1	0.70mi
520 Somerset St Baltimore, MD	1.0–2.0	1.0–2.0	634	$1,578	$2.49	43d	1	1.17mi
305 S Collington Ave Baltimore, MD	3.0	2.5	722	$2,895	$4.01	17d	1	1.28mi
4300 Orchard Ridge Blvd Baltimore, MD	1.0–3.0	1.0–2.0	1021	$1,809	$1.77	43d	1	1.35mi
1100 Greenmount Ave Baltimore, MD	1.0–3.0	1.0–2.0	839	$2,584	$3.08	2d	1	1.36mi
210 S Caroline St Baltimore, MD	1.0–2.0	1.0	808	$1,965	$2.43	43d	23	1.45mi

Listing history 44 events

1. 2026-06-18
   days on market $165,000 Active 153 DOM
2. 2026-06-17
   days on market $165,000 Active 152 DOM
3. 2026-06-16
   days on market $165,000 Active 151 DOM
4. 2026-06-15
   days on market $165,000 Active 150 DOM
5. 2026-06-13
   days on market $165,000 Active 148 DOM
6. 2026-06-09
   days on market $165,000 Active 144 DOM
7. 2026-06-08
   days on market $165,000 Active 143 DOM
8. 2026-06-07
   days on market $165,000 Active 142 DOM
9. 2026-06-04
   days on market $165,000 Active 139 DOM
10. 2026-06-03
    days on market $165,000 Active 138 DOM
11. 2026-06-02
    days on market $165,000 Active 137 DOM
12. 2026-06-01
    days on market $165,000 Active 136 DOM
13. 2026-05-31
    days on market $165,000 Active 135 DOM
14. 2026-01-16
    listed $165,000 Active 73-char remark

    Show marketing remark (73 chars)

    * * * INVESTMENT OPPORTUNITY * * * Current Rental Income Included!!!

15. 2025-09-13
    historical $1,700
16. 2025-08-28
    listed $1,700
17. 2025-04-17
    soldstatus $80,000 Closed 153-char remark

    Show marketing remark (153 chars)

    This 3-bedroom investment home offers great potential for rental income or future resale. This property is an ideal addition to any investment portfolio.

18. 2025-03-19
    status Pending 153-char remark

    Show marketing remark (153 chars)

    This 3-bedroom investment home offers great potential for rental income or future resale. This property is an ideal addition to any investment portfolio.

19. 2025-03-09
    price $93,900 153-char remark

    Show marketing remark (153 chars)

    This 3-bedroom investment home offers great potential for rental income or future resale. This property is an ideal addition to any investment portfolio.

20. 2025-02-08
    price $94,000 153-char remark

    Show marketing remark (153 chars)

    This 3-bedroom investment home offers great potential for rental income or future resale. This property is an ideal addition to any investment portfolio.

21. 2025-01-14
    listed $95,000 Active 153-char remark

    Show marketing remark (153 chars)

    This 3-bedroom investment home offers great potential for rental income or future resale. This property is an ideal addition to any investment portfolio.

22. 2022-10-20
    soldstatus $69,000 Closed
23. 2022-09-25
    status Pending
24. 2022-09-16
    listed $74,900 Active
25. 2010-07-14
    soldstatus $7,500
26. 2010-07-14
    soldstatus $7,500 Sold
27. 2010-06-11
    status Contingent (No Kick Out)
28. 2010-06-11
    historical
29. 2010-06-03
    price $9,900
30. 2010-05-14
    price $14,900
31. 2010-05-03
    price $19,000
32. 2010-04-12
    price $24,500
33. 2010-03-10
    listed $29,900 Active
34. 2010-03-10
    listed $9,900
35. 2009-11-03
    historical Withdrawn
36. 2009-11-02
    historical
37. 2009-06-07
    price
38. 2008-10-25
    listed
39. 2008-10-25
    listed $35,000
40. 2006-04-03
    soldstatus $63,000
41. 2005-03-28
    soldstatus $12,500
42. 2003-07-10
    historical
43. 2002-07-08
    listed
44. 2000-07-05
    soldstatus $55,000

ⓘ 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: $986 · $82/mo
• Projected year-2 tax: $1,392 · $116/mo
• Expected delta: +$406/yr (+$34/mo · 41.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 97% 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: $22,304
• − Mortgage interest: −$9,243
• − Property taxes: −$986
• − Insurance: −$1,622
• − Repairs & maintenance: −$1,784
• − Management: −$1,784
• − Depreciation: −$4,800
• Taxable income: $2,084
• Est. tax owed @ 24.0%: −$500
• After-tax cash flow: $4,128/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): 28,058
• Household income: $51,344
• Rent vs Own: 48.0% rent · 52.0% own
• Severe rent burden: 1868.0

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 (86%)
• Race & ethnicity: Black 86% White 6% Hispanic / Latino 4% Two or more races 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -0.57%
• Current HPI: 427.4453
• Rent YoY: ▲ 5.25%
• 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

+200.0% since first listed

31 events — show timeline

• 2026-01-16 Listed $165,000 BRIGHT MLS
• 2025-09-13 Rental Removed $1,700 SHOWMOJO
• 2025-08-28 Listed for Rent $1,700 SHOWMOJO
• 2025-04-17 Sold (MLS) $80,000 BRIGHT MLS
• 2025-03-19 Pending — BRIGHT MLS
• 2025-03-09 Price Changed $93,900 BRIGHT MLS
• 2025-02-08 Price Changed $94,000 BRIGHT MLS
• 2025-01-14 Listed $95,000 BRIGHT MLS
• 2022-10-20 Sold (MLS) $69,000 BRIGHT MLS
• 2022-09-25 Pending — BRIGHT MLS
• 2022-09-16 Listed $74,900 BRIGHT MLS
• 2010-07-14 Sold (MLS) $7,500 MRIS
• 2010-07-14 Sold (MLS) $7,500 BRIGHT MLS
• 2010-06-11 Pending — MRIS
• 2010-06-11 Listing Removed — BRIGHT MLS
• 2010-06-03 Price Changed $9,900 MRIS
• 2010-05-14 Price Changed $14,900 MRIS
• 2010-05-03 Price Changed $19,000 MRIS
• 2010-04-12 Price Changed $24,500 MRIS
• 2010-03-10 Listed $29,900 MRIS
• 2010-03-10 Listed $9,900 BRIGHT MLS
• 2009-11-03 Delisted — MRIS
• 2009-11-02 Listing Removed — BRIGHT MLS
• 2009-06-07 Price Changed — MRIS
• 2008-10-25 Listed — MRIS
• 2008-10-25 Listed $35,000 BRIGHT MLS
• 2006-04-03 Sold (Public Records) $63,000 Public Records
• 2005-03-28 Sold (Public Records) $12,500 Public Records
• 2003-07-10 Delisted — MRIS
• 2002-07-08 Listed — MRIS
• 2000-07-05 Sold (Public Records) $55,000 Public Records

Property tax history

+7.0%/yr

Latest (2025): $986 · +9.6% YoY. Source: county tax records.