116 N Milton Ave · Baltimore, MD 21224

$215,000

3 bd · 1.0 ba · 1,276 sqft · Townhouse public records · 197 Days on market

Built 1920 1,055 sqft lot $168/sqft · 7% below area Est $286k · 25% under

---

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 +23.0/30.0
• ARV discount +15.0/15.0
• DSCR +7.4/10.0
• 1% rule +4.9/10.0
• Livability +3.8/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Price reduced on this well maintained home located close to Johns Hopkins Hospital and steps away from Patterson Park. This home features 3 bedrooms, one full bathroom, and a partially finished basement that can be used as a 4th bedroom. Original hardwood floors throughout, sitting room that can be opened up to add more space, and high ceilings that really let the rooms breath, and not feel confined. Amenities include central AC and heat (about 10 years old), fully replaced roof (about 8 years old), 3 year old water heater, and fenced in yard. Property is priced well below comps to leave room for you to add your finishing touches to make this your home. Schedule your showing today. Property is being sold as is. Currently occupied by tenant that will be moving when property goes under contract.

Key facts

• Well maintained home
• Central ac and heat
• Fully replaced roof

Tags

• WELL MAINTAINED HOME
• STEPS AWAY FROM PATTERSON PARK
• PARTIALLY FINISHED BASEMENT
• CENTRAL AC AND HEAT
• FULLY REPLACED ROOF
• FENCED IN YARD

🏷️ Possibly a rental listed for sale. The $215,000 price doesn't fit this home's estimated sale value (~$285,959) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $215k.

Deal economics

• At list price, monthly cash flow is $381 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $213k (1.0% below list).
• Recommended offer: $189k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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 rising (+1.3%/yr); 393 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $1k of loan paydown is wiped out by about $6k 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 197 days — a 12% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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 $38k; list at $215k implies a 473% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $189,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 197 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 1920 — 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: 0.99% ✗
• Cap rate: 8.42%
• Cash-on-cash: 7.60%
• DSCR: 1.34
• GRM: 8.4

CMA / ARV

• ARV (median comp): $285,959
• List price: $215,000
• Delta: -24.81%
• 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
2435 Jefferson St	0.21mi	3/1.0	1,260 (-1%)	1mo	$140,000	$111	88
220 N Luzerne Ave	0.14mi	3/1.0	1,372 (+8%)	1mo	$120,000	$87	80
145 N Milton Ave	0.04mi	2/2.0 (-1)	1,353 (+6%)	1mo	$260,000	$192	78
410 N Patterson Park Ave	0.22mi	3/1.0	1,180 (-8%)	0mo	$180,000	$153	77
410 N Chester St	0.35mi	2/1.5 (-1)	1,260 (-1%)	1mo	$180,000	$143	74
122 Ellwood Ave	0.46mi	3/1.5	1,200 (-6%)	0mo	$235,000	$196	66
280 S Robinson St	0.62mi	2/1.0 (-1)	1,282 (+0%)	1mo	$294,000	$229	65
325 S Castle St	0.53mi	2/1.5 (-1)	1,196 (-6%)	0mo	$275,000	$230	58
36 N Decker Ave	0.43mi	3/2.0	1,430 (+12%)	0mo	$325,000	$227	56
18 S Washington St	0.42mi	3/3.0	1,410 (+10%)	0mo	$318,000	$226	55
219 S Washington St	0.49mi	3/2.0	1,434 (+12%)	0mo	$350,000	$244	52
1009 N Washington St N	0.74mi	2/2.5 (-1)	1,386 (+9%)	0mo	$235,000	$170	40

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: -6.5%
• Equity multiple: 0.76×
• Total profit: $-14,201
• Equity at exit: $32,057

10-year hold

• IRR: 1.1%
• Equity multiple: 1.07×
• Total profit: $4,446
• Equity at exit: $18,589

Cash invested: $60,200 (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 21224

• Rents YoY: 1.3%
• Active inventory: 393
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,129 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$83 /mo · $999/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$447
• Net cashflow: $381

Break-even live

Break-even rent $1,646

Max offer price $215,000

Occupancy floor 77%

Sensitivity live

Price	-10% $503	-5% $442	+0% $381	+5% $320	+10% $260
Rent	-10% $213	-5% $297	+0% $381	+5% $465	+10% $549
Rate	-1.0pp $489	-0.5pp $436	base $381	+0.5pp $325	+1.0pp $269

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
104 N Rose St Baltimore, MD	3.0	2.0	936	$2,500	$2.67	44d	1	0.05mi
2410 E Fayette St Baltimore, MD	3.0	1.0	1224	$1,800	$1.47	44d	1	0.07mi
224 N Rose St Baltimore, MD	2.0	2.5	1120	$1,875	$1.67	18d	1	0.09mi
230 N Rose St Baltimore, MD	2.0	1.5	1200	$1,545	$1.29	44d	1	0.09mi
227 N Rose St Baltimore, MD	2.0	4.0	1420	$1,600	$1.13	24d	1	0.09mi
233 N Rose St Baltimore, MD	2.0	2.5	934	$1,750	$1.87	18d	1	0.10mi
225 N Luzerne Ave Baltimore, MD	3.0	1.0	1198	$1,350	$1.13	20d	1	0.11mi
2608 E Fayette St Unit 1 Baltimore, MD	2.0	1.0	900	$1,700	$1.89	15d	1	0.12mi
233 N Luzerne Ave Baltimore, MD	3.0	2.5	1700	$2,250	$1.32	22d	1	0.12mi
127 N Glover St Baltimore, MD	2.0	1.5	1110	$2,100	$1.89	3d	1	0.12mi
2317 E Fayette St Baltimore, MD	3.0	1.5	1315	$2,000	$1.52	13d	1	0.12mi
402 N Milton Ave Unit 402B Baltimore, MD	2.0	1.0	950	$1,290	$1.36	44d	1	0.12mi
2619 E Fayette St Baltimore, MD	3.0	2.0	1600	$1,900	$1.19	44d	1	0.13mi
218 N Glover St Baltimore, MD	2.0	2.0	1360	$1,750	$1.29	44d	1	0.13mi
9 N Luzerne Ave Baltimore, MD	3.0	2.5	1380	$2,450	$1.78	5d	1	0.13mi
143 N Patterson Park Ave Baltimore, MD	4.0	3.5	1650	$3,700	$2.24	24d	1	0.14mi
16 N Bradford St Baltimore, MD	2.0	3.5	930	$2,400	$2.58	5d	1	0.15mi
425 N Milton Ave Baltimore, MD	3.0	1.0	1200	$1,525	$1.27	15d	1	0.15mi
139 N Lakewood Ave Unit 1 Baltimore, MD	4.0	2.0	1370	$2,500	$1.82	44d	1	0.16mi
139 N Lakewood Ave Baltimore, MD	4.0	2.5	1370	$2,500	$1.82	44d	1	0.16mi
2242 E Fairmount Ave Baltimore, MD	3.0	2.0	1345	$2,850	$2.12	44d	1	0.17mi
437 N Montford Ave Baltimore, MD	3.0	1.5	1100	$1,450	$1.32	44d	1	0.17mi
420 N Montford Ave Baltimore, MD	3.0	1.0	1350	$1,450	$1.07	44d	1	0.18mi
415 N Glover St Baltimore, MD	2.0	2.5	1092	$1,600	$1.47	24d	1	0.20mi
108 N Madeira St Baltimore, MD	2.0	2.0	1098	$1,900	$1.73	44d	1	0.20mi
2209 Mullikin St Baltimore, MD	3.0	2.5	1512	$1,900	$1.26	4d	1	0.21mi
2308 Jefferson St Baltimore, MD	3.0	1.0	907	$1,450	$1.60	44d	1	0.23mi
2208 Orleans St Baltimore, MD	3.0	1.0	1310	$1,775	$1.35	44d	1	0.25mi
415 N Belnord Ave Baltimore, MD	2.0	1.0	1008	$1,300	$1.29	24d	1	0.25mi
2431 McElderry St Baltimore, MD	4.0	2.5	1600	$2,100	$1.31	44d	1	0.25mi
539 N Luzerne Ave Baltimore, MD	3.0	2.5	1702	$2,300	$1.35	44d	1	0.26mi
2115 E Fairmount Ave Baltimore, MD	3.0	2.5	1736	$2,795	$1.61	24d	1	0.27mi
10 N Streeper St Baltimore, MD	3.0	2.5	1440	$2,500	$1.74	24d	1	0.28mi
2800 Orleans St Baltimore, MD	3.0	1.0	1404	$1,600	$1.14	15d	1	0.28mi
2800 Orleans St Baltimore, MD	3.0	1.0	1404	$1,600	$1.14	18d	1	0.28mi
406 N Collington Ave Baltimore, MD	2.0	2.5	1216	$1,875	$1.54	44d	1	0.28mi
107 N Chester St Unit 2 Baltimore, MD	3.0	1.0	1750	$2,750	$1.57	44d	1	0.29mi
2608 McElderry St Baltimore, MD	3.0	1.0	1144	$1,550	$1.35	24d	1	0.29mi
533 N Lakewood Ave Baltimore, MD	4.0	3.5	1758	$4,500	$2.56	44d	1	0.29mi
11 N Streeper St Baltimore, MD	3.0	3.5	1800	$2,600	$1.44	44d	1	0.29mi

Listing history 20 events

1. 2026-06-21
   days on market $215,000 Active 197 DOM
2. 2026-06-18
   days on market $215,000 Active 194 DOM
3. 2026-06-17
   days on market $215,000 Active 193 DOM
4. 2026-06-16
   days on market $215,000 Active 192 DOM
5. 2026-06-15
   days on market $215,000 Active 191 DOM
6. 2026-06-13
   days on market $215,000 Active 189 DOM
7. 2026-06-09
   days on market $215,000 Active 185 DOM
8. 2026-06-08
   days on market $215,000 Active 184 DOM
9. 2026-06-07
   days on market $215,000 Active 183 DOM
10. 2026-06-04
    days on market $215,000 Active 180 DOM
11. 2026-06-03
    days on market $215,000 Active 179 DOM
12. 2026-06-02
    days on market $215,000 Active 178 DOM
13. 2026-06-01
    days on market $215,000 Active 177 DOM
14. 2026-05-31
    days on market $215,000 Active 176 DOM
15. 2026-03-31
    price $215,000 804-char remark

    Show marketing remark (804 chars)

    Price reduced on this well maintained home located close to Johns Hopkins Hospital and steps away from Patterson Park. This home features 3 bedrooms, one full bathroom, and a partially finished basement that can be used as a 4th bedroom. Original hardwood floors throughout, sitting room that can be opened up to add more space, and high ceilings that really let the rooms breath, and not feel confined. Amenities include central AC and heat (about 10 years old), fully replaced roof (about 8 years old), 3 year old water heater, and fenced in yard. Property is priced well below comps to leave room for you to add your finishing touches to make this your home. Schedule your showing today. Property is being sold as is. Currently occupied by tenant that will be moving when property goes under contract.

16. 2025-12-06
    listed $225,000 Active 804-char remark

    Show marketing remark (804 chars)

    Price reduced on this well maintained home located close to Johns Hopkins Hospital and steps away from Patterson Park. This home features 3 bedrooms, one full bathroom, and a partially finished basement that can be used as a 4th bedroom. Original hardwood floors throughout, sitting room that can be opened up to add more space, and high ceilings that really let the rooms breath, and not feel confined. Amenities include central AC and heat (about 10 years old), fully replaced roof (about 8 years old), 3 year old water heater, and fenced in yard. Property is priced well below comps to leave room for you to add your finishing touches to make this your home. Schedule your showing today. Property is being sold as is. Currently occupied by tenant that will be moving when property goes under contract.

17. 2021-05-03
    historical
18. 2021-04-26
    listed $180,000 Active
19. 1986-03-13
    soldstatus $37,500
20. 1983-05-13
    soldstatus $35,000

ⓘ 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: $999 · $83/mo
• Projected year-2 tax: $1,671 · $139/mo
• Expected delta: +$672/yr (+$56/mo · 67.2%)

ⓘ 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 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: $25,543
• − Mortgage interest: −$12,043
• − Property taxes: −$999
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,043
• − Management: −$2,043
• − Depreciation: −$6,255
• Taxable income: $1,084
• Est. tax owed @ 24.0%: −$260
• After-tax cash flow: $4,314/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): 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

+514.3% since first listed

6 events — show timeline

• 2026-03-31 Price Changed $215,000 BRIGHT MLS
• 2025-12-06 Listed $225,000 BRIGHT MLS
• 2021-05-03 Listing Removed — BRIGHT MLS
• 2021-04-26 Listed $180,000 BRIGHT MLS
• 1986-03-13 Sold (Public Records) $37,500 Public Records
• 1983-05-13 Sold (Public Records) $35,000 Public Records

Property tax history

-6.7%/yr

Latest (2025): $999 · +6.8% YoY. Source: county tax records.