3210 Eastern Ave · Baltimore, MD 21224

$325,000

2 bd · None ba · 1,400 sqft · MultiFamily · 13 Days on market

Built 1920 Fair condition 1,222 sqft lot

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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 +26.0/30.0
• DSCR +8.8/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Livability +3.8/5.0
• Rent growth +2.8/5.0
• Condition / age +2.2/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Located in one of Highlandtown's hottest retail blocks and surrounded by some of Highlandtown's most popular eateries, this location is PRIME. Looking for an income producing property with the flexibility of both a main level commercial space plus a separate apartment upstairs, along with coveted dedicated parking? Looking for an owner/operator building to grow your start-up and have reside on the 2nd level? Look no further than 3210 Eastern Ave located just steps from The Creative Alliance that provides a steady flow of well attended art shows, live entertainment venues and just a great all year round creative center that provides a solid anchor to the immediate area and surrounding busin

Key facts

• 1,222 sq ft lot
• 2 parking spots
• Built 1920

Property features AI

Finance

• Financial info: Two month-to-month units

Exterior

• Parking: Driveway parking (2 spaces); Total of 2 garage/parking spaces
• Utilities: Public water; Public sewer; Electric service 200+ amp; Hot water: electric; Electric available
• Home design: Interior townhouse/rowhouse; 2 total levels; Fee simple ownership
• Construction: Brick construction; Brick/mortar foundation; Above and below grade structures
• Exterior features: Estimated lot dimensions approximately 13 x 94; No tidal water

Interior

• Kitchen: Stove; Refrigerator
• Bedrooms: Two one-bedroom units (multi-family)
• Heating & cooling: Electric baseboard heating; Central air conditioning
• Interior features: Level entry to main floor; Basement present (dirt floor); Assessor-reported living area

What this means for you Summary

Snapshot

• This is a 2-bed/?-bath multifamily listed at $325k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $811 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $325k).
• Cap rate 9.3% 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); 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); solid renter incomes; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• At $3,869/mo this rent would consume 52% of the median local household income ($89k/yr) (locally 1786% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $325,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.19% ✓
• Cap rate: 9.29%
• Cash-on-cash: 10.69%
• DSCR: 1.48
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $170,800
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
312 S Highland Ave	0.14mi	2/—	1,578 (+13%)	7mo	$190,000	$120	66
3722 E Pratt St	0.37mi	2/—	1,513 (+8%)	12mo	$185,000	$122	59

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: -2.2%
• Equity multiple: 0.92×
• Total profit: $-7,454
• Equity at exit: $48,459

10-year hold

• IRR: 5.5%
• Equity multiple: 1.38×
• Total profit: $34,554
• Equity at exit: $28,100

Cash invested: $91,000 (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: 14.0×

Monthly cashflow live

• Estimated rent: $3,869 high
• Mortgage (P&I): −$1,704
• Tax est. 1.5%: −$406 /mo · $4,875/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$812
• Net cashflow: $811

Break-even live

Break-even rent $2,843

Max offer price $325,000

Occupancy floor 74%

Sensitivity live

Price	-10% $1,035	-5% $923	+0% $811	+5% $698	+10% $586
Rent	-10% $505	-5% $658	+0% $811	+5% $963	+10% $1,116
Rate	-1.0pp $974	-0.5pp $893	base $811	+0.5pp $726	+1.0pp $641

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,870
Total (2 units)			$3,869

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
400 S Highland Ave Unit 402 Baltimore, MD	2.0	1.0	900	$1,700	$1.89	44d	1	0.09mi
249 S East Ave Baltimore, MD	2.0	2.0	1680	$2,250	$1.34	24d	1	0.15mi
235 S Highland Ave Baltimore, MD	2.0	1.5	1222	$2,000	$1.64	24d	1	0.19mi
3245 Fait Ave Baltimore, MD	3.0	2.0	1470	$2,900	$1.97	44d	1	0.26mi
127 S Robinson St Baltimore, MD	2.0	1.5	1400	$2,000	$1.43	44d	1	0.26mi
106 S Bouldin St Baltimore, MD	2.0	3.0	1134	$2,100	$1.85	21d	1	0.28mi
3036 Hudson St Baltimore, MD	2.0	2.5	1428	$2,600	$1.82	44d	1	0.33mi
3710 E Pratt St Baltimore, MD	2.0	3.5	1230	$1,900	$1.54	24d	1	0.34mi
3502 E Lombard St Baltimore, MD	3.0	2.0	1522	$1,870	$1.23	44d	1	0.35mi
102 S Curley St Baltimore, MD	2.0	1.5	1200	$1,800	$1.50	5d	1	0.37mi
3905 Bank St Baltimore, MD	4.0	1.0–3.0	909	$2,350	$2.58	3d	20	0.37mi
3436 Leverton Ave Baltimore, MD	3.0	3.5	1500	$2,350	$1.57	24d	1	0.38mi
825 S Linwood Ave Baltimore, MD	1.0	1.0	1000	$2,150	$2.15	24d	1	0.38mi
3304 E Baltimore St Baltimore, MD	3.0	1.5	1514	$1,875	$1.24	44d	1	0.39mi
939 S Baylis St Baltimore, MD	3.0	3.0	1606	$3,500	$2.18	18d	1	0.41mi
115 S Eaton St Baltimore, MD	3.0	2.5	1393	$1,800	$1.29	17d	1	0.41mi
3430 E Baltimore St Baltimore, MD	3.0	2.5	1316	$2,250	$1.71	24d	1	0.42mi
17 N East Ave Baltimore, MD	2.0	2.0	1326	$2,550	$1.92	24d	1	0.43mi
3610 Dillon St Baltimore, MD	1.0–2.0	1.0–2.0	828	$2,820	$3.41	44d	1	0.43mi
611 Grundy St Baltimore, MD	3.0	2.0	1434	$2,700	$1.88	24d	1	0.44mi
4015 Eastern Ave Unit 2L Baltimore, MD	3.0	2.0	1100	$1,800	$1.64	44d	1	0.44mi
29 N Ellwood Ave Baltimore, MD	3.0	1.5	1100	$2,395	$2.18	24d	1	0.44mi
502 S Haven St Baltimore, MD	2.0	2.5	1440	$2,400	$1.67	24d	1	0.45mi
502 S Haven St Baltimore, MD	2.0	2.5	1440	$2,400	$1.67	17d	1	0.45mi
113 N Clinton St Baltimore, MD	2.0	1.0	1300	$1,995	$1.53	44d	1	0.47mi
3205 Esther Pl Baltimore, MD	2.0	2.0	960	$1,850	$1.93	24d	1	0.49mi
113 N Decker Ave Baltimore, MD	3.0	3.5	1800	$2,850	$1.58	24d	1	0.49mi
11 N Streeper St Baltimore, MD	3.0	3.5	1800	$2,600	$1.44	44d	1	0.50mi
10 N Streeper St Baltimore, MD	3.0	2.5	1440	$2,500	$1.74	24d	1	0.51mi
34 N Linwood Ave Baltimore, MD	2.0	1.5	1288	$2,400	$1.86	24d	1	0.52mi
3518 Elliott St Baltimore, MD	3.0	2.5	1036	$2,800	$2.70	18d	1	0.55mi
203 N Ellwood Ave Unit Main Baltimore, MD	2.0	2.0	880	$2,200	$2.50	24d	1	0.56mi
150 N Curley St Baltimore, MD	2.0	2.5	1266	$1,850	$1.46	18d	1	0.57mi
1209 S Ellwood Ave Baltimore, MD	2.0	2.0	1188	$2,250	$1.89	44d	1	0.57mi
1200 S Conkling St Baltimore, MD	1.0–2.0	1.0–2.0	1085	$2,933	$2.70	2d	16	0.60mi
9 N Luzerne Ave Baltimore, MD	3.0	2.5	1380	$2,450	$1.78	5d	1	0.63mi
1211 S Eaton St Unit 8038 Baltimore, MD	1.0	1.0	1037	$2,475	$2.39	17d	1	0.63mi
1211 S Eaton St Unit 3035 Baltimore, MD	3.0	2.0	1545	$3,900	$2.52	24d	1	0.63mi
404 N Robinson St Baltimore, MD	3.0	3.0	1320	$2,100	$1.59	17d	1	0.64mi
404 N Robinson St Baltimore, MD	3.0	3.0	1320	$2,200	$1.67	24d	1	0.64mi

Listing history 8 events

1. 2026-06-21
   days on market $325,000 Active 13 DOM
2. 2026-06-18
   days on market $325,000 Active 10 DOM
3. 2026-06-17
   days on market $325,000 Active 9 DOM
4. 2026-06-16
   days on market $325,000 Active 8 DOM
5. 2026-06-15
   days on market $325,000 Active 7 DOM
6. 2026-06-13
   days on market $325,000 Active 5 DOM
7. 2026-06-09
   remarks 699-char remark
8. 2026-06-09
   listed $325,000 Active 1 DOM

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

Taxation est. · year 1

• Rental income: $46,428
• − Mortgage interest: −$18,205
• − Property taxes: −$4,875
• − Insurance: −$1,625
• − Repairs & maintenance: −$3,714
• − Management: −$3,714
• − Depreciation: −$9,455
• Taxable income: $4,840
• Est. tax owed @ 24.0%: −$1,162
• After-tax cash flow: $8,565/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.

Condition & rehab AI · 3 photos

Fair 45/100 Moderate rehab

The property presents as a moderate rehab opportunity with fair exterior and landscaping conditions. Repainting and trimming the yard can significantly enhance its curb appeal and value.

Repairs flagged

• Moderate Exterior siding — Visible weathering and staining.
• Minor Landscaping — Overgrown and needs trimming.
• Minor Fencing — May need minor repairs to ensure safety and appearance.

Value-add opportunities

• Both Paint exterior siding — Fresh paint can improve curb appeal and property value.
• Both Trim landscaping — A well-maintained yard can enhance the property's appeal and value.
• Both Inspect and repair roof — A healthy roof is crucial for the property's longevity and value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Visible weathering and staining.	Moderate	$3,000–15,000
Landscaping · Overgrown and needs trimming.	Minor	$500–3,000
Fencing · May need minor repairs to ensure safety and appearance.	Minor	$500–3,000
Total estimated repair cost · 3 items		$4,000–21,000

Value-add ROI direction

• Both Paint exterior siding — Fresh paint can improve curb appeal and property value. ↑
• Both Trim landscaping — A well-maintained yard can enhance the property's appeal and value. ↑
• Both Inspect and repair roof — A healthy roof is crucial for the property's longevity and value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

+0.0% since first listed

2 events — show timeline

• 2026-06-09 Listed $325,000 BRIGHT MLS
• 2026-06-08 Coming Soon $325,000 BRIGHT MLS