1620 W Franklin St · Baltimore, MD 21223

$75,000

3 bd · 1.0 ba · 1,600 sqft · Townhouse · 40 Days on market

Built 1900 871 sqft lot $47/sqft · 14% below area Est $87k · 14% 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 +30.0/30.0
• ARV discount +13.7/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.4/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Functional home with solid structure and fully working mechanicals—ready for cosmetic updates to unlock its full potential. This extra-wide rowhome spans three above-ground levels with a classic three-window front and abundant natural light. The main level offers a separate living room, dining room, and kitchen, while upstairs you’ll find three oversized bedrooms, two with triple-window park views. Additional highlights include forced-air heat with an updated furnace, a full basement, and an 80-foot-deep lot backing directly to Harlem Park for rare city green space. The property has passed multiple housing inspections, providing peace of mind on the essentials. With nearby renov

Key facts

• Solid structure
• Separate living room
• Built 1900

Tags

• SOLID STRUCTURE
• FULLY WORKING MECHANICALS
• THREE ABOVE-GROUND LEVELS
• CLASSIC THREE-WINDOW FRONT
• ABUNDANT NATURAL LIGHT
• SEPARATE LIVING ROOM

Property features AI

Finance

• Other: Below-grade area approximately 400 (unfinished); Above-grade finished area approximately 1,600; Property condition listed as below average
• Financial info: Ownership: ground rent exists (semi-annual payment); Annual ground rent listed

Exterior

• Parking: On-street parking
• Utilities: 100 amp electric service; Natural gas available; Water: public; Sewer: public
• Home design: Interior townhouse / rowhouse; Three total levels; Flat tar-and-gravel roof
• Construction: Constructed of concrete and stone; Brick/mortar and concrete perimeter foundation; Built date per assessor
• Exterior features: Not in a federal flood zone; Above- and below-grade exterior structures noted; Directions: Edmondson Ave to W Franklin St; In city limits (Baltimore City); Public water and public sewer

Interior

• Kitchen: Gas oven/range; Range hood; Exhaust fan; Refrigerator
• Bedrooms: Two bedrooms on the first upper level; One bedroom on the second upper level
• Flooring: Concrete; Laminate; Vinyl; Wood
• Bathrooms: One full bathroom (all upper levels)
• Heating & cooling: Heat pump(s); Oil-fired hot water; Window cooling units
• Interior features: Drywall and plaster walls; Interior access to basement; Unfinished poured concrete basement
• Laundry & utility: Basement utility space

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $75k.

Deal economics

• At list price, monthly cash flow is $952 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.

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: 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.
• Zoned schools: Elmer A. Henderson: A Johns Hopkins Partnership (math 2% / reading 16%, grade F, #650 of 860 statewide, top 77%, 642 students, 80% FRL); Baltimore Polytechnic Institute (math 71% / reading 84%, grade A-, #22 of 222 statewide, top 10%, 1,555 students, 43% FRL) — zoned schools average 62% FRL vs 79% district-wide (17 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 43% at this address vs 12% district-wide (+32 pts) — the actual schools serving this property are materially stronger than the Baltimore City Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+7.5%/yr); 425 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $519 of loan paydown is wiped out by about $2k 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 + 7.5% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 4y 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 $7k; list at $75k implies a 942% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: 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 $72,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% 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. 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: 2.44% ✓
• Cap rate: 21.53%
• Cash-on-cash: 54.41%
• DSCR: 3.42
• GRM: 3.4

CMA / ARV

• ARV (median comp): $86,942
• List price: $75,000
• Delta: -13.74%
• 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
1503 W Fairmount Ave	0.38mi	3/2.5	1,542 (-4%)	4mo	$190,000	$123	67
2218 W Saratoga St	0.49mi	3/1.5	1,650 (+3%)	5mo	$232,677	$141	66
811 N Mount St	0.28mi	3/2.0	1,410 (-12%)	3mo	$85,000	$60	60
308 S Stricker St	0.70mi	3/1.5	1,680 (+5%)	1mo	$62,740	$37	56
2400 W Lafayette Ave	0.70mi	4/2.0 (+1)	1,584 (-1%)	2mo	$263,000	$166	56
1022 W Lombard St	0.70mi	4/2.0 (+1)	1,550 (-3%)	3mo	$138,500	$89	50
2404 W Lafayette Ave	0.70mi	3/2.0	1,476 (-8%)	2mo	$135,000	$91	49
2416 W Franklin St	0.63mi	3/2.0	1,435 (-10%)	2mo	$67,000	$47	47
605 N Fremont Ave N	0.61mi	3/3.0	1,440 (-10%)	1mo	$185,000	$128	46
215 Calhoun S	0.66mi	2/1.5 (-1)	1,800 (+12%)	2mo	$80,000	$44	39
1933 W Pratt St	0.67mi	4/— (+1)	1,365 (-15%)	2mo	$30,000	$22	38
2406 Arunah Ave	0.63mi	4/3.5 (+1)	1,824 (+14%)	2mo	$350,000	$192	30

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 · 7.51% rent growth · sell at horizon

5-year hold

• IRR: 57.6%
• Equity multiple: 3.72×
• Total profit: $57,166
• Equity at exit: $11,183

10-year hold

• IRR: 64.0%
• Equity multiple: 8.95×
• Total profit: $166,948
• Equity at exit: $6,485

Cash invested: $21,000 (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 21223

• Rents YoY: 7.5%
• Active inventory: 425
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,827 high
• Mortgage (P&I): −$393
• Tax from tax record: −$67 /mo · $799/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $952

Break-even live

Break-even rent $622

Max offer price $75,000

Occupancy floor 43%

Sensitivity live

Price	-10% $995	-5% $973	+0% $952	+5% $931	+10% $910
Rent	-10% $808	-5% $880	+0% $952	+5% $1,024	+10% $1,096
Rate	-1.0pp $990	-0.5pp $971	base $952	+0.5pp $933	+1.0pp $913

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1625 Edmondson Ave Unit 1 Baltimore, MD	4.0	3.0	1500	$2,175	$1.45	6d	1	0.08mi
1625 Edmondson Ave Unit 2 Baltimore, MD	4.0	3.0	1500	$1,895	$1.26	14d	1	0.08mi
1509 Edmondson Ave #1 Baltimore, MD	3.0	2.0	1600	$2,275	$1.42	25d	1	0.15mi
1846 W Saratoga St Unit 1 Baltimore, MD	2.0	1.0	1250	$1,300	$1.04	45d	1	0.20mi
1814 Penrose Ave Baltimore, MD	3.0	1.0	1624	$1,700	$1.05	19d	1	0.21mi
1519 Penrose Ave Baltimore, MD	3.0	2.0	1200	$1,875	$1.56	45d	1	0.22mi
1518 1/2 W Lexington St Baltimore, MD	2.0	2.0	1650	$1,200	$0.73	6d	1	0.25mi
813 N Fulton Ave Unit 1 Baltimore, MD	2.0	1.0	1200	$1,350	$1.12	45d	1	0.29mi
2012 W Saratoga St Baltimore, MD	3.0	1.0	1300	$1,700	$1.31	25d	1	0.32mi
1839 W Fayette St Baltimore, MD	3.0	1.5	1426	$1,675	$1.17	25d	1	0.35mi
834 N Stricker St Baltimore, MD	4.0	1.0	1200	$1,500	$1.25	22d	1	0.35mi
2005 Penrose Ave Baltimore, MD	3.0	1.0	1232	$1,600	$1.30	0d	1	0.35mi
1601 Frederick Ave Unit 3 Baltimore, MD	2.0	1.0	1050	$1,050	$1.00	6d	1	0.41mi
1635 Frederick Ave Baltimore, MD	3.0	2.0	1224	$1,850	$1.51	45d	1	0.43mi
1912 W Baltimore St Unit 2 Baltimore, MD	2.0	1.5	1200	$2,100	$1.75	25d	1	0.43mi
1914 Mosher St Unit 1914 Baltimore, MD	4.0	2.5	1200	$1,700	$1.42	45d	1	0.47mi
1049 Brantley Ave Unit 2 Baltimore, MD	3.0	1.0	1200	$1,350	$1.12	25d	1	0.47mi
1613 Riggs Ave Baltimore, MD	3.0	2.5	1800	$1,800	$1.00	25d	1	0.48mi
1032 W Franklin St Baltimore, MD	4.0	4.5	1913	$2,650	$1.39	25d	1	0.48mi
10 S Carey St Baltimore, MD	2.0	1.0	1140	$1,550	$1.36	25d	1	0.50mi
1315 Hollins St Unit 2 Baltimore, MD	3.0	2.0	1096	$1,860	$1.70	6d	1	0.54mi
1315 Hollins St Unit 2 Baltimore, MD	3.0	2.0	1096	$1,950	$1.78	14d	1	0.54mi
1324 W Lombard St Unit 2 Baltimore, MD	2.0	1.5	1100	$1,450	$1.32	45d	1	0.57mi
1324 W Lombard St Unit 1 Baltimore, MD	2.0	2.0	1100	$1,500	$1.36	25d	1	0.57mi
39 N Bentalou St Baltimore, MD	3.0	2.5	1844	$1,700	$0.92	5d	1	0.58mi
1012 W Lanvale St Baltimore, MD	2.0	2.0	2008	$1,925	$0.96	25d	1	0.58mi
910 N Arlington Ave Unit 2 Baltimore, MD	4.0	2.0	1220	$1,850	$1.52	25d	1	0.58mi
2303 Calverton Heights Ave Baltimore, MD	4.0	2.0	1314	$2,250	$1.71	25d	1	0.59mi
2232 W Baltimore St Baltimore, MD	3.0	1.0	1250	$1,875	$1.50	25d	1	0.61mi
2225 W Baltimore St Baltimore, MD	3.0	2.5	1200	$1,600	$1.33	25d	1	0.61mi
101 N Schroeder St Baltimore, MD	3.0	1.0–2.0	1037	$3,185	$3.07	0d	11	0.62mi
918 N Bentalou St Baltimore, MD	3.0	1.5	1485	$1,750	$1.18	45d	1	0.63mi
62 N Gorman Ave Baltimore, MD	3.0	2.0	1100	$2,500	$2.27	19d	1	0.63mi
104 S Carrollton Ave Baltimore, MD	3.0	4.0	1232	$2,200	$1.79	0d	1	0.66mi
1115 W Lombard St Baltimore, MD	3.0	1.0	1468	$2,100	$1.43	45d	1	0.68mi
1111 W Lombard St Baltimore, MD	3.0	1.0	1200	$1,295	$1.08	6d	1	0.68mi
1000 Hollins St Unit 1000 Hollins Baltimore, MD	3.0	2.5	1472	$2,600	$1.77	46d	1	0.69mi
2301 Riggs Ave Baltimore, MD	3.0	2.0	1072	$1,600	$1.49	25d	1	0.70mi
1433 N Fulton Ave Baltimore, MD	2.0	1.0	1200	$1,500	$1.25	45d	1	0.76mi
1346 N Carey St Baltimore, MD	2.0	1.5	1100	$1,500	$1.36	45d	1	0.78mi

Listing history 32 events

1. 2026-06-21
   days on market $75,000 Active 40 DOM
2. 2026-06-18
   days on market $75,000 Active 37 DOM
3. 2026-06-17
   days on market $75,000 Active 36 DOM
4. 2026-06-16
   days on market $75,000 Active 35 DOM
5. 2026-06-15
   days on market $75,000 Active 34 DOM
6. 2026-06-13
   days on market $75,000 Active 32 DOM
7. 2026-06-09
   days on market $75,000 Active 28 DOM
8. 2026-06-08
   days on market $75,000 Active 27 DOM
9. 2026-06-07
   days on market $75,000 Active 26 DOM
10. 2026-06-04
    days on market $75,000 Active 23 DOM
11. 2026-06-03
    days on market $75,000 Active 22 DOM
12. 2026-06-02
    days on market $75,000 Active 21 DOM
13. 2026-06-01
    days on market $75,000 Active 20 DOM
14. 2026-05-31
    days on market $75,000 Active 19 DOM
15. 2026-05-12
    listed $75,000 Active 884-char remark
16. 2026-02-11
    status Pending
17. 2026-02-11
    historical
18. 2026-02-02
    price $75,000
19. 2025-11-21
    price $69,900
20. 2025-09-26
    price $75,000
21. 2025-08-30
    price $79,000
22. 2025-08-29
    status Active
23. 2025-06-12
    historical
24. 2025-05-23
    status Active
25. 2025-05-01
    status Pending
26. 2025-04-04
    listed $95,000 Active
27. 2022-12-04
    historical
28. 2022-11-06
    status Active
29. 2022-11-04
    historical
30. 2022-08-18
    listed $78,000 Active
31. 1993-09-16
    soldstatus $7,200
32. 1984-06-01
    soldstatus $5,400

ⓘ 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: $799 · $67/mo
• Projected year-2 tax: $808 · $67/mo
• Expected delta: +$9/yr (+$1/mo · 1.2%)

ⓘ 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: $21,923
• − Mortgage interest: −$4,201
• − Property taxes: −$799
• − Insurance: −$375
• − Repairs & maintenance: −$1,754
• − Management: −$1,754
• − Depreciation: −$2,182
• Taxable income: $10,858
• Est. tax owed @ 24.0%: −$2,606
• After-tax cash flow: $8,820/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): 19,572
• Household income: $45,840
• Rent vs Own: 68.0% rent · 32.0% own
• Severe rent burden: 1755.0

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 (72%)
• Race & ethnicity: Black 72% White 16% Hispanic / Latino 7% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Romanian 1%
• Foreign-born: 8% · Canada
• Languages at home: 90% English-only · Spanish 6% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -97.99%
• Current HPI: 140.5836
• Rent YoY: ▲ 7.51%
• 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

+1288.9% since first listed

18 events — show timeline

• 2026-05-12 Listed $75,000 BRIGHT MLS
• 2026-02-11 Pending — BRIGHT MLS
• 2026-02-11 Listing Removed — BRIGHT MLS
• 2026-02-02 Price Changed $75,000 BRIGHT MLS
• 2025-11-21 Price Changed $69,900 BRIGHT MLS
• 2025-09-26 Price Changed $75,000 BRIGHT MLS
• 2025-08-30 Price Changed $79,000 BRIGHT MLS
• 2025-08-29 Relisted — BRIGHT MLS
• 2025-06-12 Listing Removed — BRIGHT MLS
• 2025-05-23 Relisted — BRIGHT MLS
• 2025-05-01 Pending — BRIGHT MLS
• 2025-04-04 Listed $95,000 BRIGHT MLS
• 2022-12-04 Listing Removed — BRIGHT MLS
• 2022-11-06 Relisted — BRIGHT MLS
• 2022-11-04 Listing Removed — BRIGHT MLS
• 2022-08-18 Listed $78,000 BRIGHT MLS
• 1993-09-16 Sold (Public Records) $7,200 Public Records
• 1984-06-01 Sold (Public Records) $5,400 Public Records

Property tax history

+6.5%/yr

Latest (2025): $799 · +47.8% YoY. Source: county tax records.