5619 Pioneer Dr · Baltimore, MD 21214

$105,000

2 bd · 1.0 ba · 1,120 sqft · Townhouse public records · 69 Days on market

Built 1953 3,049 sqft lot $94/sqft · 47% below area Est $197k · 47% under ↓ 33% since listing

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

$50,000. LIST PRICE SUGGESTED OPENING BID AT AUCTION. * * * * NO PRE BID * * * * AUCTION FRI, April 10th, 2026 @ 11:00 AM ON PREMISES. Broker/agent registration form is available upon request and must be in the hands of Jay Edwards Auctioneers 48 hours prior to the auction. Enter from front entrance to living room. Kitchen w/ dining area, gas stove, & exit to covered back porch. Coat closet. Upper level has bedroom’s #1 & 2 w/ ceiling fans closets, full bathroom, & hall closet. Attic access. Lower level has club room, washer, dryer, & exit to rear yard. Additional features include gas hot water, gas furnace, central air, & private fenced back yard. Public water & sewer. The property is subject to annual ground rent of $96.00 payable semi- annually on the 15th days of April and October.

Key facts

• Gas stove
• Central air
• Covered back porch

Tags

• COVERED BACK PORCH
• GAS STOVE
• PRIVATE FENCED BACK YARD
• CENTRAL AIR

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $105k.

Deal economics

• At list price, monthly cash flow is $488 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Recommended offer: $99k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.9% 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: 98 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); 48% 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 $726 of loan paydown is wiped out by about $3k 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 + 3.0% rent growth), your $29k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y ago; this cycle's ask is 110% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $75k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1953 — 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 $98,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 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 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.57% ✓
• Cap rate: 11.87%
• Cash-on-cash: 19.93%
• DSCR: 1.89
• GRM: 5.3

CMA / ARV

• ARV (median comp): $196,613
• List price: $105,000
• Delta: -46.60%
• 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
2210 Cloville Ave NE	0.17mi	3/1.5 (+1)	1,024 (-9%)	3mo	$226,650	$221	68
5749 Edgepark Rd	0.25mi	3/1.5 (+1)	1,140 (+2%)	15mo	$190,000	$167	66
5644 Pioneer Dr	0.06mi	2/2.0	1,232 (+10%)	16mo	$205,000	$166	63
6331 Pioneer Dr	0.36mi	3/1.5 (+1)	1,050 (-6%)	6mo	$185,000	$176	61
1720 Wadsworth Way	0.42mi	3/1.0 (+1)	1,064 (-5%)	11mo	$160,100	$150	58
6210 Pilgrim Rd	0.22mi	3/1.5 (+1)	1,280 (+14%)	2mo	$213,000	$166	57
1930 Swansea Rd	0.45mi	3/2.0 (+1)	1,178 (+5%)	10mo	$285,000	$242	53
2221 Walshire Ave	0.33mi	3/1.0 (+1)	1,280 (+14%)	6mo	$181,000	$141	51
1649 Gleneagle Rd	0.62mi	3/1.0 (+1)	1,064 (-5%)	9mo	$200,000	$188	50
1703 Swansea Rd	0.56mi	2/2.0	1,190 (+6%)	12mo	$170,000	$143	50
2403 Hermosa Ave	0.68mi	3/2.0 (+1)	1,248 (+11%)	0mo	$250,000	$200	40
1700 Woodbourne Ave	0.58mi	2/2.0	1,277 (+14%)	16mo	$210,000	$164	32

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.1%
• Equity multiple: 1.48×
• Total profit: $14,159
• Equity at exit: $15,656

10-year hold

• IRR: 21.1%
• Equity multiple: 2.79×
• Total profit: $52,688
• Equity at exit: $9,078

Cash invested: $29,400 (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 21214

• Active inventory: 98
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,647 high
• Mortgage (P&I): −$551
• Tax from tax record: −$218 /mo · $2,619/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $488

Break-even live

Break-even rent $1,029

Max offer price $105,000

Occupancy floor 65%

Sensitivity live

Price	-10% $548	-5% $518	+0% $488	+5% $459	+10% $429
Rent	-10% $358	-5% $423	+0% $488	+5% $553	+10% $618
Rate	-1.0pp $541	-0.5pp $515	base $488	+0.5pp $461	+1.0pp $433

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2106 Cloville Ave Baltimore, MD	3.0	1.5	1080	$1,700	$1.57	44d	1	0.18mi
1806 Ramblewood Rd Apt A Baltimore, MD	2.0	2.0	903	$1,847	$2.05	44d	1	0.25mi
6212 Laurelton Ave Baltimore, MD	2.0	1.0	960	$1,325	$1.38	44d	1	0.39mi
1900 Ramblewood Rd Apt A Baltimore, MD	2.0	2.0	903	$1,847	$2.05	44d	1	0.39mi
5600 Birchwood Ave Unit 2 Baltimore, MD	2.0	1.0	850	$1,600	$1.88	44d	1	0.39mi
2077 Woodbourne Ave Baltimore, MD	1.0–2.0	1.0	830	$1,419	$1.71	2d	5	0.44mi
2604 Hamilton Ave Apt 2 Baltimore, MD	2.0	1.0	850	$1,195	$1.41	44d	1	0.46mi
1726 E Belvedere Ave Baltimore, MD	3.0	2.0	1140	$1,895	$1.66	22d	1	0.50mi
6502 McClean Blvd Baltimore, MD	2.0	1.0	925	$1,537	$1.66	44d	1	0.56mi
6502 McClean Blvd Unit 2207-A3 Baltimore, MD	1.0	1.0	800	$1,212	$1.51	44d	1	0.57mi
6502 McClean Blvd Unit 2211-B3 Baltimore, MD	2.0	1.0	925	$1,495	$1.62	22d	1	0.57mi
6624 Pioneer Dr Baltimore, MD	1.0–3.0	1.0	706	$1,266	$1.79	44d	1	0.58mi
2804 Christopher Ave Baltimore, MD	3.0	2.5	1280	$2,200	$1.72	24d	1	0.60mi
4902 Gilray Dr Baltimore, MD	3.0	2.0	776	$2,400	$3.09	24d	1	0.62mi
6612 Birchwood Ave Baltimore, MD	3.0	2.0	1122	$2,300	$2.05	20d	1	0.71mi
1712 Waverly Way Baltimore, MD	1.0–2.0	1.0	675	$1,520	$2.25	2d	5	0.72mi
2423 Wellbridge Dr Baltimore, MD	1.0–2.0	1.0	675	$1,325	$1.96	21d	1	0.75mi
2900 Ailsa Ave Apt 2 Baltimore, MD	3.0	1.0	1300	$1,750	$1.35	5d	1	0.81mi
3014 Hamilton Ave Unit 1 Baltimore, MD	2.0	1.0	850	$1,575	$1.85	24d	1	0.82mi
3033 Hamilton Ave Unit 1R Baltimore, MD	2.0	1.0	720	$1,195	$1.66	5d	1	0.83mi
3021 Echodale Ave Unit 2 Baltimore, MD	2.0	1.0	750	$999	$1.33	44d	1	0.86mi
6101 Loch Raven Blvd Baltimore, MD	1.0–2.0	1.0–2.0	1138	$2,318	$2.04	3d	8	0.90mi
5664 Woodmont Ave Baltimore, MD	1.0–2.0	1.0	710	$1,175	$1.65	4d	10	1.04mi
1408 Cedarcroft Rd Baltimore, MD	3.0	2.0	912	$1,957	$2.15	44d	1	1.05mi
5307 Leith Rd Baltimore, MD	2.0	1.0	630	$1,350	$2.14	13d	1	1.06mi
7202 Sindall Rd Unit 7202 Parkville, MD	3.0	1.0	1350	$1,850	$1.37	44d	1	1.07mi
6405 Loch Crest Rd Idlewylde, MD	3.0	2.5	1440	$2,257	$1.57	44d	1	1.14mi
5683 Purdue Ave Unit 5687-C5 Baltimore, MD	1.0	1.0	917	$1,000	$1.09	4d	1	1.15mi
1629 Wentworth Ave Parkville, MD	3.0	1.5	1152	$1,895	$1.64	44d	1	1.18mi
1652 E Cold Spring Ln Unit 2 Baltimore, MD	2.0	1.0	700	$1,500	$2.14	24d	1	1.19mi
1610 Wentworth Ave Parkville, MD	3.0	1.0	1024	$1,900	$1.86	44d	1	1.20mi
3309 Southern Ave Unit 2 Baltimore, MD	2.0	1.0	1200	$1,600	$1.33	13d	1	1.21mi
3010 Woodring Ave Unit 2 Baltimore, MD	2.0	1.0	900	$1,600	$1.78	44d	1	1.25mi
1129 Gleneagle Rd Unit B Baltimore, MD	2.0	1.0	700	$1,200	$1.71	44d	1	1.27mi
6612 Wycombe Way Parkville, MD	1.0–2.0	1.0	664	$1,325	$2.00	5d	1	1.30mi
1116 Gleneagle Rd Unit 1 Baltimore, MD	2.0	1.0	726	$1,695	$2.33	5d	1	1.30mi
1116 Gleneagle Rd Unit 2 Baltimore, MD	2.0	1.0	726	$1,750	$2.41	24d	1	1.30mi
1116 Gleneagle Rd Unit 2 Baltimore, MD	2.0	1.0	876	$1,750	$2.00	44d	1	1.30mi
1111 Gleneagle Rd Unit 2 Baltimore, MD	2.0	1.0	1452	$1,050	$0.72	44d	1	1.31mi
3607 Bayonne Ave Unit 2 Baltimore, MD	2.0	1.0	900	$1,300	$1.44	24d	1	1.31mi

Listing history 5 events

1. 2026-03-12
   listed $50,000 Active 841-char remark

   Show marketing remark (841 chars)

   $50,000. LIST PRICE SUGGESTED OPENING BID AT AUCTION. * * * * NO PRE BID * * * * AUCTION FRI, April 10th, 2026 @ 11:00 AM ON PREMISES. Broker/agent registration form is available upon request and must be in the hands of Jay Edwards Auctioneers 48 hours prior to the auction. Enter from front entrance to living room. Kitchen w/ dining area, gas stove, & exit to covered back porch. Coat closet. Upper level has bedroom’s #1 & 2 w/ ceiling fans closets, full bathroom, & hall closet. Attic access. Lower level has club room, washer, dryer, & exit to rear yard. Additional features include gas hot water, gas furnace, central air, & private fenced back yard. Public water & sewer. The property is subject to annual ground rent of $96.00 payable semi- annually on the 15th days of April and October.

2. 2021-04-16
   soldstatus $75,000
3. 2021-01-21
   soldstatus $75,000 Closed 29-char remark

   Show marketing remark (29 chars)

   Listed and Sold Simutaneously

4. 2020-11-01
   status Pending 29-char remark

   Show marketing remark (29 chars)

   Listed and Sold Simutaneously

5. 2020-11-01
   listed $75,000 Active 29-char remark

   Show marketing remark (29 chars)

   Listed and Sold Simutaneously

ⓘ 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: $2,619 · $218/mo
• Projected year-2 tax: $2,619 · $218/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 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 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,760
• − Mortgage interest: −$5,882
• − Property taxes: −$2,619
• − Insurance: −$525
• − Repairs & maintenance: −$1,581
• − Management: −$1,581
• − Depreciation: −$3,055
• Taxable income: $4,518
• Est. tax owed @ 24.0%: −$1,084
• After-tax cash flow: $4,774/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): 21,092
• Household income: $86,366
• Rent vs Own: 21.4% rent · 78.6% own
• Severe rent burden: 432.0

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 0.56)
• Race & ethnicity: Black 58% White 33% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Romanian 3% Italian 1% Lithuanian 1%
• Foreign-born: 7% · Canada
• Languages at home: 93% English-only · Spanish 3% French/Haitian/Cajun 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: ▼ -211.52%
• Current HPI: 310.5637
• Rent YoY: —
• 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

-33.3% since first listed

5 events — show timeline

• 2026-03-12 Listed $50,000 BRIGHT MLS
• 2021-04-16 Sold (Public Records) $75,000 Public Records
• 2021-01-21 Sold (MLS) $75,000 BRIGHT MLS
• 2020-11-01 Pending — BRIGHT MLS
• 2020-11-01 Listed $75,000 BRIGHT MLS

Property tax history

-0.5%/yr

Latest (2025): $2,619 · +2.8% YoY. Source: county tax records.