28 E 25th St · Baltimore, MD 21218

$375,000

2 bd · None ba · 3,135 sqft · MultiFamily · 114 Days on market

Built 1900 1,596 sqft lot $120/sqft · 15% below area Est $441k · 15% under ↓ 5% since listing

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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 +24.1/30.0
• ARV discount +14.3/15.0
• DSCR +7.8/10.0
• 1% rule +6.2/10.0
• Livability +3.8/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• 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 MLS

Zoned C-1, this oversized Charles Village mixed-use rowhome offers a rare opportunity to live, work, or invest in one of Baltimore’s most dynamic corridors. With approximately 3,135 square feet of above-grade space plus finished basement area, the property includes two residential apartments and two commercial suites, allowing a future owner to tailor the layout to their needs. Whether envisioning an owner-occupied residence with on-site workspace or a blend of residential and commercial income, the flexibility is built in. Located along 25th Street’s “Black Wall Street” corridor, the property sits within a vibrant, walkable hub of Black-owned businesses, neighborhood retail, and community-driven commercial activity. The second- and third-floor apartments are oversized one-bedroom units with generous room dimensions and large north- and south-facing windows, including a southern-facing bay window that provides additional natural light. Original hardwood floors remain throughout most living areas. Kitchens feature wood cabinetry, laminate counters and flooring, and either a 30-inch electric or gas range. Bathrooms have modern vanities and cast-iron tubs with ceramic tile surrounds. A future owner may elect to update kitchens and baths to support higher rents. The apartments are heated by a central Repco 275,00 BTU hot water radiator heating system; radiant heating serves the terrace store. The landlord pays for the gas heat; a savvy owner could pass this through to tenants, improving cash flow. The 1st floor commercial tenant has their own heat pump with central air. A central 40-gallon gas-fired water heater supplies hot water to all units. Each unit has its own electric meter and pays their own electric. Two gas meters serve the property, one public service and the other presumed for Apartment 2. All interior water supply pipes are copper or C-PVC, with a copper water main. All observable interior water drain lines are copper or steel. The landlord currently pays for water. A TPO membrane roof was installed in 2016. The 25th Street corridor in Charles Village has long been known as “Black Wall Street, ” a historic center of Black-owned businesses and commercial activity in Baltimore City. Today, the corridor supports a mix of retail, service, and professional users, benefiting from steady pedestrian traffic and strong neighborhood visibility. Residential tenants enjoy close proximity to restaurants, art venues, and daily conveniences. Johns Hopkins University’s Homewood Campus—Baltimore City’s largest employment hub—is five blocks north, supporting consistent residential demand. The central location offers convenient access to downtown Baltimore and I-83, with the Maryland Avenue CycleTrack located one block away for bike commuters. 28 East 25th Street carries a Walk Score of 97, a Transit Score of 80, and a Bike Score of 85. The commercial suites are built out to support prior and current uses. The first-floor suite, now vacant, was previously configured for medical training with classrooms, training stations, a private rear office, and a modern half bath, offering flexibility for office, medical, educational, or service-oriented users. The lower-level terrace retail suite has received recent improvements, including drywall walls and ceilings, recessed lighting, LVP flooring, and an upgraded half bath. The rear portion of the terrace suite houses utilities and provides additional storage space.

Key facts

• C-1 zoning
• Modern vanities
• Mixed-use rowhome

Tags

• C-1 ZONING
• MIXED-USE ROWHOME
• TWO RESIDENTIAL APARTMENTS
• TWO COMMERCIAL SUITES
• ORIGINAL HARDWOOD FLOORS
• MODERN VANITIES

What this means for you Summary

Snapshot

• This is a 2-bed/?-bath multifamily listed at $375k.

Deal economics

• At list price, monthly cash flow is $741 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $375k).
• Recommended offer: $341k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.7% 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 (+1.6%/yr); 325 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 64% 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).
• At $4,218/mo this rent would consume 81% of the median local household income ($62k/yr) (locally 2564% 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 $3k of loan paydown is wiped out by about $11k 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 114 days — a 9% lower offer ($341k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $341,250 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% 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. 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 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: 1.12% ✓
• Cap rate: 8.66%
• Cash-on-cash: 8.46%
• DSCR: 1.38
• GRM: 7.4

CMA / ARV

• ARV (median comp): $441,225
• List price: $375,000
• Delta: -15.01%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2541 Saint Paul St	0.07mi	2/—	3,027 (-3%)	2mo	$220,000	$73	89
2210 Maryland Ave	0.28mi	3/— (+1)	2,997 (-4%)	6mo	$400,000	$133	70
2212 Maryland Ave	0.28mi	3/— (+1)	2,997 (-4%)	6mo	$400,000	$133	70
3001 N Calvert St	0.46mi	3/— (+1)	3,307 (+6%)	1mo	$550,000	$166	64
2311 N Calvert St	0.20mi	3/3.0 (+1)	2,800 (-11%)	9mo	$405,000	$145	60
2800 Huntingdon Ave	0.42mi	3/2.5 (+1)	3,300 (+5%)	15mo	$325,000	$98	54
2619 Saint Paul St	0.14mi	3/— (+1)	2,784 (-11%)	20mo	$435,000	$156	53
2024 Saint Paul St	0.36mi	3/— (+1)	2,805 (-10%)	14mo	$450,000	$160	50
1906 Mount Royal Ter	0.73mi	3/3.0 (+1)	3,262 (+4%)	6mo	$420,000	$129	49
1609 Saint Paul St	0.69mi	3/— (+1)	2,810 (-10%)	2mo	$540,000	$192	44
1624 N Calvert St	0.68mi	1/— (-1)	2,800 (-11%)	9mo	$425,000	$152	38

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 · 1.63% rent growth · sell at horizon

5-year hold

• IRR: -5.0%
• Equity multiple: 0.82×
• Total profit: $-19,265
• Equity at exit: $55,914

10-year hold

• IRR: 3.0%
• Equity multiple: 1.20×
• Total profit: $21,329
• Equity at exit: $32,423

Cash invested: $105,000 (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 21218

• Rents YoY: 1.6%
• Active inventory: 325
• Price-to-rent: 22.2×

Monthly cashflow live

• Estimated rent: $4,218 high
• Mortgage (P&I): −$1,967
• Tax est. 1.5%: −$469 /mo · $5,625/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$886
• Net cashflow: $741

Break-even live

Break-even rent $3,280

Max offer price $375,000

Occupancy floor 77%

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$4,218
Total (3 units)			$4,218

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2227 Saint Paul St Unit 2 Baltimore, MD	2.0	2.0	3428	$1,200	$0.35	43d	1	0.21mi
139 E North Ave Unit 3 Baltimore, MD	1.0	1.0	3060	$1,300	$0.42	43d	1	0.50mi
1824 Saint Paul St Unit 3 Baltimore, MD	2.0	1.0	2397	$1,275	$0.53	43d	1	0.52mi
411 E Lafayette Ave Baltimore, MD	3.0	2.5	2450	$2,900	$1.18	23d	1	0.64mi
1643 Guilford Ave Baltimore, MD	3.0	3.5	2273	$3,200	$1.41	43d	1	0.67mi
3214 Abell Ave Baltimore, MD	3.0	1.5	2300	$2,800	$1.22	23d	1	0.68mi
101 E 33rd St Unit 2 Baltimore, MD	1.0	1.0	2550	$1,500	$0.59	12d	1	0.68mi
1602 Park Ave Unit 3F Baltimore, MD	1.0	1.0	4290	$1,300	$0.30	14d	1	0.87mi
32 E Preston St Unit B Baltimore, MD	3.0	3.0	2500	$2,890	$1.16	43d	1	0.92mi
2535 Brookfield Ave Baltimore, MD	3.0	1.0	2736	$1,500	$0.55	43d	1	0.95mi
805 Brooks Ln #2 Baltimore, MD	2.0	1.0	2120	$1,500	$0.71	3d	1	0.99mi
1020 Park Ave Baltimore, MD	2.0	2.0–2.5	2004	$3,712	$1.85	3d	11	1.08mi
2312 Eutaw Pl Unit A Baltimore, MD	2.0	2.5	4464	$2,300	$0.52	43d	1	1.14mi
1929 McCulloh St Baltimore, MD	3.0	2.5	3293	$2,595	$0.79	43d	1	1.20mi
1614 McCulloh St #1 Baltimore, MD	3.0	3.0	2885	$2,400	$0.83	43d	1	1.21mi
919 Saint Paul St Apt 1 Baltimore, MD	1.0	1.0	4221	$1,850	$0.44	14d	1	1.22mi
2014 McCulloh St Unit 1 Baltimore, MD	1.0	1.0	2440	$1,200	$0.49	43d	1	1.23mi
2020 McCulloh St Unit 1 Baltimore, MD	2.0	2.0	2440	$1,650	$0.68	43d	1	1.23mi
2020 McCulloh St Unit 2 Baltimore, MD	2.0	2.0	2440	$1,950	$0.80	43d	1	1.23mi
1927 Druid Hill Ave #2 Baltimore, MD	3.0	2.0	3312	$2,350	$0.71	43d	1	1.25mi
1532 N Broadway Baltimore, MD	3.0	4.0	2696	$2,700	$1.00	3d	1	1.30mi
549 Mosher St Baltimore, MD	3.0	1.0	2200	$1,350	$0.61	43d	1	1.38mi

Listing history 12 events

1. 2026-06-07
   status $375,000 Pending 114 DOM
2. 2026-06-04
   days on market $375,000 Active 114 DOM
3. 2026-06-03
   days on market $375,000 Active 113 DOM
4. 2026-06-02
   days on market $375,000 Active 112 DOM
5. 2026-06-01
   days on market $375,000 Active 111 DOM
6. 2026-05-31
   days on market $375,000 Active 110 DOM
7. 2026-02-10
   listed $375,000 Active 3521-char remark

   Show marketing remark (3521 chars)

   Zoned C-1, this oversized Charles Village mixed-use rowhome offers a rare opportunity to live, work, or invest in one of Baltimore’s most dynamic corridors. With approximately 3,135 square feet of above-grade space plus finished basement area, the property includes two residential apartments and two commercial suites, allowing a future owner to tailor the layout to their needs. Whether envisioning an owner-occupied residence with on-site workspace or a blend of residential and commercial income, the flexibility is built in. Located along 25th Street’s “Black Wall Street” corridor, the property sits within a vibrant, walkable hub of Black-owned businesses, neighborhood retail, and community-driven commercial activity. The second- and third-floor apartments are oversized one-bedroom units with generous room dimensions and large north- and south-facing windows, including a southern-facing bay window that provides additional natural light. Original hardwood floors remain throughout most living areas. Kitchens feature wood cabinetry, laminate counters and flooring, and either a 30-inch electric or gas range. Bathrooms have modern vanities and cast-iron tubs with ceramic tile surrounds. A future owner may elect to update kitchens and baths to support higher rents. The apartments are heated by a central Repco 275,00 BTU hot water radiator heating system; radiant heating serves the terrace store. The landlord pays for the gas heat; a savvy owner could pass this through to tenants, improving cash flow. The 1st floor commercial tenant has their own heat pump with central air. A central 40-gallon gas-fired water heater supplies hot water to all units. Each unit has its own electric meter and pays their own electric. Two gas meters serve the property, one public service and the other presumed for Apartment 2. All interior water supply pipes are copper or C-PVC, with a copper water main. All observable interior water drain lines are copper or steel. The landlord currently pays for water. A TPO membrane roof was installed in 2016. The 25th Street corridor in Charles Village has long been known as “Black Wall Street, ” a historic center of Black-owned businesses and commercial activity in Baltimore City. Today, the corridor supports a mix of retail, service, and professional users, benefiting from steady pedestrian traffic and strong neighborhood visibility. Residential tenants enjoy close proximity to restaurants, art venues, and daily conveniences. Johns Hopkins University’s Homewood Campus—Baltimore City’s largest employment hub—is five blocks north, supporting consistent residential demand. The central location offers convenient access to downtown Baltimore and I-83, with the Maryland Avenue CycleTrack located one block away for bike commuters. 28 East 25th Street carries a Walk Score of 97, a Transit Score of 80, and a Bike Score of 85. The commercial suites are built out to support prior and current uses. The first-floor suite, now vacant, was previously configured for medical training with classrooms, training stations, a private rear office, and a modern half bath, offering flexibility for office, medical, educational, or service-oriented users. The lower-level terrace retail suite has received recent improvements, including drywall walls and ceilings, recessed lighting, LVP flooring, and an upgraded half bath. The rear portion of the terrace suite houses utilities and provides additional storage space.

8. 2024-08-26
   soldstatus $385,000 Closed 3446-char remark

   Show marketing remark (3446 chars)

   Join the Resurgence of 25th Street, Dubbed “The Black Wall Street of Baltimore” by the Baltimore Sun. Deceptively Large Rowhome in Charles Village: Provides 3,135 Square Feet Gross Living Area Plus Usable Basement Space. Upside Potential to Improve Residential Kitchens and Baths to Achieve Higher Rental Rates. Zoned C-1, The Property Provides Versatility, Allowing Owners to Change Uses from Residential to Commercial as They Desire. The apartments on the second and third floors are plus-sized 1-bedrooms. This interior rowhome boasts large windows on both the north and south walls, with a southern-facing bay window providing bonus natural light. Generous room sizes are accentuated by hardwood floors throughout most of the living spaces. Kitchens have either an 30″ electric or gas range, wood cabinets, laminate counters and laminate flooring. The 2nd floor apartment has a porcelain sink top; the 3rd floor has a stainless sink. Bathrooms have modern vanities, cast iron tubs with ceramic tile tub-surrounds. Upgrading kitchens and bathrooms would significantly improve monthly rents. The commercial suites are built-out and upgraded by the Tenants to meet the needs of the Tenants’ use. The first floor provides medical training and has been home to Phylis Angels Training Center since 2017, with classrooms and training stations. Wall-to-wall carpeting throughout, with a modern half bath and private office in the rear. The terrace retail suite has seen major improvements in the last few years, with new drywall walls and ceilings, recessed lighting, LVP flooring and improved half-bath. The very rear of the terrace is home to the utilities and provides the tenant with additional storage space. Inside this Charles Village Mixed-Use, the apartments are heated by a central Repco 275,00 BTU hot water radiator heating system; radiant heating serves the terrace store. The landlord does pay for the gas heat; a savvy owner could pass this through to tenants, improving cash flow. The 1st floor commercial tenant has their own heat pump with central air. A central 40-gallon gas-fired water heater supplies hot water to all units. Each unit has its own electric meter and pays their own electric. Two gas meters serve the property, one public service and the other presumed for Apartment 2. BGE is not actively billing the owner for natural gas usage. All interior water supply pipes are copper or C-PVC, with a copper water main. All observable interior water drain lines are copper or steel. The landlord currently pays for water. The Charles Village 25th Street corridor has been dubbed the “Black Wall Street of Baltimore” by the Baltimore Sun. Its numerous clothing retailers, art shops, and beauty stores has made it a fashion destination in Baltimore City. Commercial tenants enjoy the high visibility and walking traffic this location brings. Residential tenants enjoy the close proximity to various restaurants, art venues, and stores. Johns Hopkins, the city’s #1 employer, has its Homewood Campus just five blocks north. The central location in Baltimore gives residents a quick commute to downtown Baltimore or a short drive to I-83 for a drive to Baltimore County. The Maryland Avenue CycleTrack is one block away for bike commuters. 28 East 25th Street is designated a “Walker’s Paradise” with a Walk Score of 95; a Transit Score of 80; and a Bike Score of 85.

9. 2024-07-29
   status Pending 3446-char remark

   Show marketing remark (3446 chars)

   Join the Resurgence of 25th Street, Dubbed “The Black Wall Street of Baltimore” by the Baltimore Sun. Deceptively Large Rowhome in Charles Village: Provides 3,135 Square Feet Gross Living Area Plus Usable Basement Space. Upside Potential to Improve Residential Kitchens and Baths to Achieve Higher Rental Rates. Zoned C-1, The Property Provides Versatility, Allowing Owners to Change Uses from Residential to Commercial as They Desire. The apartments on the second and third floors are plus-sized 1-bedrooms. This interior rowhome boasts large windows on both the north and south walls, with a southern-facing bay window providing bonus natural light. Generous room sizes are accentuated by hardwood floors throughout most of the living spaces. Kitchens have either an 30″ electric or gas range, wood cabinets, laminate counters and laminate flooring. The 2nd floor apartment has a porcelain sink top; the 3rd floor has a stainless sink. Bathrooms have modern vanities, cast iron tubs with ceramic tile tub-surrounds. Upgrading kitchens and bathrooms would significantly improve monthly rents. The commercial suites are built-out and upgraded by the Tenants to meet the needs of the Tenants’ use. The first floor provides medical training and has been home to Phylis Angels Training Center since 2017, with classrooms and training stations. Wall-to-wall carpeting throughout, with a modern half bath and private office in the rear. The terrace retail suite has seen major improvements in the last few years, with new drywall walls and ceilings, recessed lighting, LVP flooring and improved half-bath. The very rear of the terrace is home to the utilities and provides the tenant with additional storage space. Inside this Charles Village Mixed-Use, the apartments are heated by a central Repco 275,00 BTU hot water radiator heating system; radiant heating serves the terrace store. The landlord does pay for the gas heat; a savvy owner could pass this through to tenants, improving cash flow. The 1st floor commercial tenant has their own heat pump with central air. A central 40-gallon gas-fired water heater supplies hot water to all units. Each unit has its own electric meter and pays their own electric. Two gas meters serve the property, one public service and the other presumed for Apartment 2. BGE is not actively billing the owner for natural gas usage. All interior water supply pipes are copper or C-PVC, with a copper water main. All observable interior water drain lines are copper or steel. The landlord currently pays for water. The Charles Village 25th Street corridor has been dubbed the “Black Wall Street of Baltimore” by the Baltimore Sun. Its numerous clothing retailers, art shops, and beauty stores has made it a fashion destination in Baltimore City. Commercial tenants enjoy the high visibility and walking traffic this location brings. Residential tenants enjoy the close proximity to various restaurants, art venues, and stores. Johns Hopkins, the city’s #1 employer, has its Homewood Campus just five blocks north. The central location in Baltimore gives residents a quick commute to downtown Baltimore or a short drive to I-83 for a drive to Baltimore County. The Maryland Avenue CycleTrack is one block away for bike commuters. 28 East 25th Street is designated a “Walker’s Paradise” with a Walk Score of 95; a Transit Score of 80; and a Bike Score of 85.

10. 2024-04-25
    listed $395,000 Active 3446-char remark

    Show marketing remark (3446 chars)

    Join the Resurgence of 25th Street, Dubbed “The Black Wall Street of Baltimore” by the Baltimore Sun. Deceptively Large Rowhome in Charles Village: Provides 3,135 Square Feet Gross Living Area Plus Usable Basement Space. Upside Potential to Improve Residential Kitchens and Baths to Achieve Higher Rental Rates. Zoned C-1, The Property Provides Versatility, Allowing Owners to Change Uses from Residential to Commercial as They Desire. The apartments on the second and third floors are plus-sized 1-bedrooms. This interior rowhome boasts large windows on both the north and south walls, with a southern-facing bay window providing bonus natural light. Generous room sizes are accentuated by hardwood floors throughout most of the living spaces. Kitchens have either an 30″ electric or gas range, wood cabinets, laminate counters and laminate flooring. The 2nd floor apartment has a porcelain sink top; the 3rd floor has a stainless sink. Bathrooms have modern vanities, cast iron tubs with ceramic tile tub-surrounds. Upgrading kitchens and bathrooms would significantly improve monthly rents. The commercial suites are built-out and upgraded by the Tenants to meet the needs of the Tenants’ use. The first floor provides medical training and has been home to Phylis Angels Training Center since 2017, with classrooms and training stations. Wall-to-wall carpeting throughout, with a modern half bath and private office in the rear. The terrace retail suite has seen major improvements in the last few years, with new drywall walls and ceilings, recessed lighting, LVP flooring and improved half-bath. The very rear of the terrace is home to the utilities and provides the tenant with additional storage space. Inside this Charles Village Mixed-Use, the apartments are heated by a central Repco 275,00 BTU hot water radiator heating system; radiant heating serves the terrace store. The landlord does pay for the gas heat; a savvy owner could pass this through to tenants, improving cash flow. The 1st floor commercial tenant has their own heat pump with central air. A central 40-gallon gas-fired water heater supplies hot water to all units. Each unit has its own electric meter and pays their own electric. Two gas meters serve the property, one public service and the other presumed for Apartment 2. BGE is not actively billing the owner for natural gas usage. All interior water supply pipes are copper or C-PVC, with a copper water main. All observable interior water drain lines are copper or steel. The landlord currently pays for water. The Charles Village 25th Street corridor has been dubbed the “Black Wall Street of Baltimore” by the Baltimore Sun. Its numerous clothing retailers, art shops, and beauty stores has made it a fashion destination in Baltimore City. Commercial tenants enjoy the high visibility and walking traffic this location brings. Residential tenants enjoy the close proximity to various restaurants, art venues, and stores. Johns Hopkins, the city’s #1 employer, has its Homewood Campus just five blocks north. The central location in Baltimore gives residents a quick commute to downtown Baltimore or a short drive to I-83 for a drive to Baltimore County. The Maryland Avenue CycleTrack is one block away for bike commuters. 28 East 25th Street is designated a “Walker’s Paradise” with a Walk Score of 95; a Transit Score of 80; and a Bike Score of 85.

11. 2008-01-01
    historical
12. 2007-04-21
    listed

ⓘ 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: $50,616
• − Mortgage interest: −$21,006
• − Property taxes: −$5,625
• − Insurance: −$1,875
• − Repairs & maintenance: −$4,049
• − Management: −$4,049
• − Depreciation: −$10,909
• Taxable income: $3,103
• Est. tax owed @ 24.0%: −$745
• After-tax cash flow: $8,144/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): 44,014
• Household income: $62,488
• Rent vs Own: 51.9% rent · 48.1% own
• Severe rent burden: 2564.0

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 0.58)
• Race & ethnicity: Black 60% White 26% Two or more races 6% Hispanic / Latino 5% Asian 5%
• Common ancestry: Romanian 2% Italian 1% Scotch-Irish 1%
• Foreign-born: 10% · Canada, China, South Korea
• Languages at home: 87% English-only · Spanish 4% French/Haitian/Cajun 2% Chinese 2%

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: ▼ -463.14%
• Current HPI: 292.3986
• Rent YoY: ▲ 1.63%
• 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

-5.1% since first listed

6 events — show timeline

• 2026-02-10 Listed $375,000 BRIGHT MLS
• 2024-08-26 Sold (MLS) $385,000 BRIGHT MLS
• 2024-07-29 Pending — BRIGHT MLS
• 2024-04-25 Listed $395,000 BRIGHT MLS
• 2008-01-01 Delisted — MRIS
• 2007-04-21 Listed — MRIS