33 S Calverton Rd · Baltimore, MD 21223

$79,900

5 bd · 2.0 ba · 1,207 sqft · Townhouse · 78 Days on market

Built 1920 3,303 sqft lot $66/sqft · 46% below area Est $147k · 46% 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 +15.0/15.0
• 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 MLS

Welcome to 33 S Calverton St, a spacious end-of-group townhome in Baltimore City featuring 5 bedrooms and 2 full bathrooms—an exceptional value-add opportunity with strong upside. This property offers a generous layout with multiple living areas and well-proportioned bedrooms, making it ideal for a variety of uses, including a large primary residence, rental investment, or renovation project. Currently tenant-occupied and to be delivered vacant at settlement, this home offers immediate flexibility to renovate, reposition, or customize to your vision. While in average condition and in need of cosmetic updates, the size and layout create a compelling opportunity to build equity and maximize returns. Properties with this bedroom count and footprint are increasingly hard to find at this price point. Conveniently located near downtown Baltimore, major commuter routes, shopping, and dining, this is a prime opportunity for buyers looking to capitalize on space, location, and long-term potential.

Key facts

• Generous layout
• Cosmetic updates
• Conveniently located

Tags

• GENEROUS LAYOUT
• MULTIPLE LIVING AREAS
• COSMETIC UPDATES
• CONVENIENTLY LOCATED

🏷️ Possibly a rental listed for sale. The $79,900 price doesn't fit this home's estimated sale value (~$146,999) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath townhouse listed at $80k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.
• Cap rate 24.7% 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 fast (+7.5%/yr); 422 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• At $2,187/mo this rent would consume 57% of the median local household income ($46k/yr) (locally 1755% 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 $552 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 $22k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 16y ago; this cycle's ask has dropped $20k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $80k implies a 300% 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 $75,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 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 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: 2.74% ✓
• Cap rate: 24.70%
• Cash-on-cash: 65.75%
• DSCR: 3.93
• GRM: 3.0

CMA / ARV

• ARV (median comp): $146,999
• List price: $79,900
• Delta: -45.65%
• 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
19 N Smallwood St	0.13mi	4/3.5 (-1)	1,230 (+2%)	10mo	$210,000	$171	72
2425 Lauretta Ave	0.50mi	5/3.0	1,260 (+4%)	1mo	$205,000	$163	64
1933 W Pratt St	0.29mi	4/— (-1)	1,365 (+13%)	2mo	$30,000	$22	58
1 N Smallwood St	0.11mi	4/1.0 (-1)	1,352 (+12%)	10mo	$39,000	$29	58
633 N Brice St	0.63mi	4/2.5 (-1)	1,250 (+4%)	2mo	$78,000	$62	56
1819 Arunah Ave	0.66mi	4/1.0 (-1)	1,220 (+1%)	8mo	$44,000	$36	52
2639 Hafer St	0.45mi	4/2.0 (-1)	1,306 (+8%)	13mo	$150,000	$115	50
528 S Bentalou St	0.43mi	4/3.0 (-1)	1,032 (-14%)	0mo	$190,000	$184	46
2613 Dulany St	0.55mi	4/1.0 (-1)	1,332 (+10%)	6mo	$60,000	$45	43
482-484 Brunswick St	0.66mi	4/2.0 (-1)	1,308 (+8%)	9mo	$160,000	$122	42
2033 W Lanvale St	0.71mi	4/3.5 (-1)	1,300 (+8%)	13mo	$22,000	$17	32
2431 Arunah Ave	0.60mi	6/3.0 (+1)	1,368 (+13%)	15mo	$185,000	$135	28

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: 69.9%
• Equity multiple: 4.38×
• Total profit: $75,507
• Equity at exit: $11,913

10-year hold

• IRR: 75.2%
• Equity multiple: 10.52×
• Total profit: $213,033
• Equity at exit: $6,908

Cash invested: $22,372 (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: 422
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $2,187 high
• Mortgage (P&I): −$419
• Tax from tax record: −$50 /mo · $596/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$459
• Net cashflow: $1,226

Break-even live

Break-even rent $635

Max offer price $79,900

Occupancy floor 39%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
311 S Pulaski St Baltimore, MD	5.0	3.0	1450	$2,400	$1.66	3d	1	0.26mi
311 S Pulaski St Baltimore, MD	5.0	3.0	1450	$2,400	$1.66	43d	1	0.26mi
2509 Christian St Baltimore, MD	4.0	2.0	1248	$1,699	$1.36	3d	1	0.52mi
2514 Wilkens Ave Baltimore, MD	4.0	1.0	1344	$1,800	$1.34	43d	1	0.53mi
2514 Wilkens Ave Baltimore, MD	4.0	1.0	1344	$1,800	$1.34	10d	1	0.53mi
2815 W Mulberry St Baltimore, MD	4.0	2.0	1040	$2,050	$1.97	43d	1	0.70mi
1625 Edmondson Ave Unit 1 Baltimore, MD	4.0	3.0	1500	$2,175	$1.45	4d	1	0.72mi
1625 Edmondson Ave Unit 2 Baltimore, MD	4.0	3.0	1500	$1,895	$1.26	12d	1	0.72mi
2303 Calverton Heights Ave Baltimore, MD	4.0	2.0	1314	$2,250	$1.71	23d	1	0.74mi
1914 Mosher St Unit 1914 Baltimore, MD	4.0	2.5	1200	$1,700	$1.42	43d	1	0.92mi
834 N Stricker St Baltimore, MD	4.0	1.0	1200	$1,500	$1.25	20d	1	0.98mi
2744 W Mosher St Baltimore, MD	4.0	2.0	1412	$2,100	$1.49	23d	1	1.04mi
1125 Washington Blvd Baltimore, MD	4.0	2.5	1200	$2,750	$2.29	17d	1	1.07mi
910 N Arlington Ave Unit 2 Baltimore, MD	4.0	2.0	1220	$1,850	$1.52	23d	1	1.23mi
405 N Edgewood St Baltimore, MD	4.0	2.0	1408	$2,950	$2.10	4d	1	1.29mi
3507 Edmondson Ave Baltimore, MD	4.0	2.0	1428	$2,300	$1.61	43d	1	1.36mi
730 Linnard St Unit 1 Baltimore, MD	4.0	1.0	1360	$1,750	$1.29	23d	1	1.43mi
662 Washington Blvd Baltimore, MD	4.0	2.5	1300	$2,700	$2.08	43d	1	1.45mi
623 N Grantley St Baltimore, MD	4.0	2.0	1250	$2,000	$1.60	23d	1	1.45mi

Listing history 36 events

1. 2026-06-18
   price $79,900 Active 78 DOM
2. 2026-06-18
   days on market $89,900 Active 78 DOM
3. 2026-06-17
   days on market $89,900 Active 77 DOM
4. 2026-06-16
   days on market $89,900 Active 76 DOM
5. 2026-06-15
   days on market $89,900 Active 75 DOM
6. 2026-06-13
   days on market $89,900 Active 73 DOM
7. 2026-06-09
   days on market $89,900 Active 69 DOM
8. 2026-06-08
   days on market $89,900 Active 68 DOM
9. 2026-06-07
   days on market $89,900 Active 67 DOM
10. 2026-06-04
    days on market $89,900 Active 64 DOM
11. 2026-06-03
    days on market $89,900 Active 63 DOM
12. 2026-06-02
    days on market $89,900 Active 62 DOM
13. 2026-06-01
    days on market $89,900 Active 61 DOM
14. 2026-05-31
    days on market $89,900 Active 60 DOM
15. 2026-04-29
    price $89,900 1009-char remark

    Show marketing remark (1009 chars)

    Welcome to 33 S Calverton St, a spacious end-of-group townhome in Baltimore City featuring 5 bedrooms and 2 full bathrooms—an exceptional value-add opportunity with strong upside. This property offers a generous layout with multiple living areas and well-proportioned bedrooms, making it ideal for a variety of uses, including a large primary residence, rental investment, or renovation project. Currently tenant-occupied and to be delivered vacant at settlement, this home offers immediate flexibility to renovate, reposition, or customize to your vision. While in average condition and in need of cosmetic updates, the size and layout create a compelling opportunity to build equity and maximize returns. Properties with this bedroom count and footprint are increasingly hard to find at this price point. Conveniently located near downtown Baltimore, major commuter routes, shopping, and dining, this is a prime opportunity for buyers looking to capitalize on space, location, and long-term potential.

16. 2026-04-01
    listed $99,900 Active 1009-char remark

    Show marketing remark (1009 chars)

    Welcome to 33 S Calverton St, a spacious end-of-group townhome in Baltimore City featuring 5 bedrooms and 2 full bathrooms—an exceptional value-add opportunity with strong upside. This property offers a generous layout with multiple living areas and well-proportioned bedrooms, making it ideal for a variety of uses, including a large primary residence, rental investment, or renovation project. Currently tenant-occupied and to be delivered vacant at settlement, this home offers immediate flexibility to renovate, reposition, or customize to your vision. While in average condition and in need of cosmetic updates, the size and layout create a compelling opportunity to build equity and maximize returns. Properties with this bedroom count and footprint are increasingly hard to find at this price point. Conveniently located near downtown Baltimore, major commuter routes, shopping, and dining, this is a prime opportunity for buyers looking to capitalize on space, location, and long-term potential.

17. 2023-11-03
    status Pending
18. 2023-11-03
    historical
19. 2023-09-07
    price $99,900
20. 2023-08-15
    price $105,000
21. 2023-08-02
    status Active
22. 2023-07-24
    status Pending
23. 2023-06-27
    listed $110,000 Active
24. 2023-06-21
    historical
25. 2010-12-31
    historical
26. 2010-12-31
    historical Expired
27. 2010-07-31
    listed Active
28. 2010-07-31
    listed $9,900
29. 2010-06-21
    historical Expired
30. 2010-06-21
    historical
31. 2010-05-23
    price
32. 2010-04-08
    price
33. 2010-03-09
    listed Active
34. 2010-03-09
    listed $9,900
35. 2001-02-05
    soldstatus $20,000
36. 1993-07-23
    soldstatus $10,000

ⓘ 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: $596 · $50/mo
• Projected year-2 tax: $733 · $61/mo
• Expected delta: +$138/yr (+$11/mo · 23.1%)

ⓘ 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,245
• − Mortgage interest: −$4,476
• − Property taxes: −$596
• − Insurance: −$400
• − Repairs & maintenance: −$2,100
• − Management: −$2,100
• − Depreciation: −$2,324
• Taxable income: $14,251
• Est. tax owed @ 24.0%: −$3,420
• After-tax cash flow: $11,290/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

+799.0% since first listed

22 events — show timeline

• 2026-04-29 Price Changed $89,900 BRIGHT MLS
• 2026-04-01 Listed $99,900 BRIGHT MLS
• 2023-11-03 Pending — BRIGHT MLS
• 2023-11-03 Listing Removed — BRIGHT MLS
• 2023-09-07 Price Changed $99,900 BRIGHT MLS
• 2023-08-15 Price Changed $105,000 BRIGHT MLS
• 2023-08-02 Relisted — BRIGHT MLS
• 2023-07-24 Pending — BRIGHT MLS
• 2023-06-27 Listed $110,000 BRIGHT MLS
• 2023-06-21 Coming Soon — BRIGHT MLS
• 2010-12-31 Listing Removed — BRIGHT MLS
• 2010-12-31 Delisted — MRIS
• 2010-07-31 Listed — MRIS
• 2010-07-31 Listed $9,900 BRIGHT MLS
• 2010-06-21 Delisted — MRIS
• 2010-06-21 Listing Removed — BRIGHT MLS
• 2010-05-23 Price Changed — MRIS
• 2010-04-08 Price Changed — MRIS
• 2010-03-09 Listed — MRIS
• 2010-03-09 Listed $9,900 BRIGHT MLS
• 2001-02-05 Sold (Public Records) $20,000 Public Records
• 1993-07-23 Sold (Public Records) $10,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $596 · +28.6% YoY. Source: county tax records.