825 E 34th St · Baltimore, MD 21218

$125,000

3 bd · 1.0 ba · 1,188 sqft · Townhouse public records · 60 Days on market

Built 1924 $105/sqft · 43% below area Est $221k · 43% 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
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• 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

Listing remarks

3 bedroom, 1.5 bath brick townhome featuring laminate flooring throughout the living and dining rooms. The kitchen has updated granite countertops and stainless steel appliances. Enjoy sitting in the sun room off of the living room surrounded by windows. Upstairs offers new carpet throughout, including a spacious primary bedroom plus two additional bedrooms and a full bath with a walk-in shower and sliding glass doors. The basement is unfinished but includes a flush and the washer/dryer, providing great storage and future finishing potential. Enjoy the fully fenced rear yard with a small deck overlooking the yard

Key facts

• Brick townhome
• Laminate flooring
• New carpet

Tags

• BRICK TOWNHOME
• LAMINATE FLOORING
• UPDATED GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• SUN ROOM
• NEW CARPET

Property features AI

Finance

• Other: Building not winterized; Pets allowed (cats and dogs)

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas for heating and hot water; Electric cooling fuel
• Home design: Interior townhouse/rowhouse; Fee simple ownership
• Construction: Brick construction; Stone foundation; Tar/gravel roof; Vinyl-clad windows; Basement with interior access, outside entrance, walkout stairs, windows; unfinished full basement with connecting stairway
• Exterior features: Level lot; Picket and privacy wood fencing (rear); Deck(s) and porch(es); Not in a federal flood zone

Interior

• Kitchen: Gas oven/range; Refrigerator; Stainless steel appliances
• Bedrooms: Three bedrooms on the first upper level
• Flooring: Carpet; Ceramic tile; Concrete; Luxury vinyl plank; Vinyl
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Radiator/hot water heating (natural gas); Ceiling fans; Window air conditioning units; 100 amp electrical service
• Interior features: Traditional floor plan; Dining area; Ceiling fans; Walk-in shower (stall); Upgraded countertops; Storm door; Drywall, plaster, paneled and some unfinished walls
• Laundry & utility: Washer (front loading); Dryer (front loading, electric); Washer and dryer located in basement; Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $125k.

Deal economics

• At list price, monthly cash flow is $581 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $121k (3.0% 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: 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 (+1.6%/yr); 330 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); 40% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k 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 + 1.6% rent growth), your $35k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $25k; list at $125k implies a 400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — 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 $121,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 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 1924 — 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: 1.47% ✓
• Cap rate: 11.87%
• Cash-on-cash: 19.91%
• DSCR: 1.89
• GRM: 5.7

CMA / ARV

• ARV (median comp): $220,847
• List price: $125,000
• Delta: -43.40%
• 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
604 E 35th St E	0.22mi	3/1.0	1,260 (+6%)	1mo	$94,000	$75	79
515 E 35th St	0.25mi	3/1.5	1,260 (+6%)	1mo	$135,999	$108	76
608 Chestnut Hill Ave	0.34mi	2/1.0 (-1)	1,156 (-3%)	1mo	$73,000	$63	74
646 E 37th St	0.30mi	3/2.0	1,284 (+8%)	0mo	$94,000	$73	68
2956 Greenmount Ave	0.46mi	3/2.0	1,130 (-5%)	1mo	$209,395	$185	66
3633 Elkader Rd	0.23mi	2/1.5 (-1)	1,304 (+10%)	1mo	$265,000	$203	65
616 E 30th St	0.41mi	2/1.0 (-1)	1,092 (-8%)	2mo	$65,000	$60	61
3405 Greenway #302	0.68mi	2/1.5 (-1)	1,221 (+3%)	1mo	$265,000	$217	56
609 Melville Ave	0.21mi	4/2.0 (+1)	1,364 (+15%)	1mo	$120,000	$88	56
1632 E 31st St	0.69mi	3/1.0	1,280 (+8%)	0mo	$94,500	$74	55
3807 Elkader Rd	0.33mi	4/2.0 (+1)	1,352 (+14%)	0mo	$235,000	$174	53
3825 Elkader Rd	0.36mi	4/2.0 (+1)	1,352 (+14%)	1mo	$275,000	$203	50

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: 10.5%
• Equity multiple: 1.41×
• Total profit: $14,254
• Equity at exit: $18,638

10-year hold

• IRR: 18.4%
• Equity multiple: 2.43×
• Total profit: $50,173
• Equity at exit: $10,808

Cash invested: $35,000 (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: 330
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,841 high
• Mortgage (P&I): −$656
• Tax from tax record: −$166 /mo · $1,992/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $581

Break-even live

Break-even rent $1,106

Max offer price $125,000

Occupancy floor 63%

Sensitivity live

Price	-10% $651	-5% $616	+0% $581	+5% $545	+10% $510
Rent	-10% $435	-5% $508	+0% $581	+5% $653	+10% $726
Rate	-1.0pp $644	-0.5pp $612	base $581	+0.5pp $548	+1.0pp $515

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
724 E 35th St Baltimore, MD	3.0	1.5	1368	$2,000	$1.46	16d	1	0.10mi
721 E 36th St Unit Na Baltimore, MD	2.0	1.0	1156	$1,650	$1.43	45d	1	0.16mi
1040 E 33rd St Baltimore, MD	1.0–2.0	1.0–2.0	775	$1,525	$1.97	4d	10	0.18mi
3529 Greenmount Ave Baltimore, MD	3.0	2.0	1316	$1,575	$1.20	45d	1	0.30mi
616 Montpelier St Baltimore, MD	3.0	1.0	1150	$1,750	$1.52	12d	1	0.32mi
612 Chestnut Hill Ave Unit 1 Baltimore, MD	2.0	1.0	900	$1,999	$2.22	45d	1	0.33mi
3721 Ellerslie Ave Baltimore, MD	1.0–3.0	1.0–2.0	894	$1,603	$1.79	3d	1	0.35mi
936 Montpelier St Baltimore, MD	2.0	1.0	1260	$1,450	$1.15	25d	1	0.36mi
3026 Mathews St Baltimore, MD	2.0	1.0	996	$1,350	$1.36	16d	1	0.37mi
3012 Mathews St Baltimore, MD	2.0	1.0	996	$1,100	$1.10	19d	1	0.39mi
3221 Guilford Ave Apt A Baltimore, MD	3.0	1.5	1025	$2,925	$2.85	19d	1	0.52mi
3221 The Alameda Unit 2 Baltimore, MD	2.0	1.0	750	$1,200	$1.60	25d	1	0.52mi
2821 Mathews St Unit 27-668 Baltimore, MD	2.0	1.0	730	$1,050	$1.44	25d	1	0.55mi
3130 Guilford Ave Apt B Baltimore, MD	2.0	1.0	700	$1,790	$2.56	19d	1	0.57mi
3126 Guilford Ave Apt A Baltimore, MD	2.0	1.0	700	$1,770	$2.53	5d	1	0.57mi
1502 Fernley Rd Baltimore, MD	3.0	2.0	1350	$2,800	$2.07	45d	1	0.58mi
436 Ilchester Ave Unit 1 Baltimore, MD	2.0	2.0	1002	$1,350	$1.35	45d	1	0.58mi
1504 Upshire Rd Unit 1E Baltimore, MD	2.0	1.0	1000	$1,400	$1.40	45d	1	0.58mi
519 E 28th St Baltimore, MD	3.0	2.0	1500	$2,000	$1.33	6d	1	0.60mi
3601 Greenway #101 Baltimore, MD	2.0	2.0	1470	$2,700	$1.84	5d	1	0.61mi
3501 Saint Paul St Baltimore, MD	3.0	1.0–2.5	916	$2,700	$2.95	3d	172	0.62mi
402 E 28th St Baltimore, MD	3.0	1.0	1436	$2,200	$1.53	45d	1	0.64mi
3201 Saint Paul St Baltimore, MD	1.0–2.0	1.5–2.0	1532	$3,200	$2.09	4d	1	0.65mi
1519 E 28th St Baltimore, MD	3.0	2.0	1100	$1,350	$1.23	45d	1	0.68mi
1702 E 32nd St Baltimore, MD	3.0	2.0	1344	$2,300	$1.71	45d	1	0.68mi
1 E University Pkwy Baltimore, MD	1.0–3.0	1.0–2.0	1045	$2,500	$2.39	6d	2	0.69mi
956 Argonne Dr Baltimore, MD	1.0–2.0	1.0	662	$1,295	$1.95	6d	6	0.71mi
2606 Cecil Ave Baltimore, MD	2.0	1.5	1200	$1,500	$1.25	45d	1	0.71mi
450 E Lorraine Ave Baltimore, MD	3.0	1.0	1344	$1,695	$1.26	45d	1	0.74mi
428 E Lorraine Ave Unit 1 Baltimore, MD	3.0	1.5	1344	$1,875	$1.40	45d	1	0.75mi
428 E Lorraine Ave Baltimore, MD	3.0	2.0	1344	$1,875	$1.40	25d	1	0.76mi
400 E Lorraine Ave Baltimore, MD	3.0	1.0	1500	$1,800	$1.20	21d	1	0.77mi
411 E Lorraine Ave Baltimore, MD	3.0	1.5	1344	$2,200	$1.64	25d	1	0.78mi
815 Gilrubin Ct Baltimore, MD	2.0	1.0	900	$1,695	$1.88	45d	1	0.79mi
812 Nat Ct Apt 12 Baltimore, MD	2.0	1.0	900	$1,295	$1.44	45d	1	0.80mi
720 Springfield Ave Baltimore, MD	3.0	1.0	1160	$2,000	$1.72	45d	1	0.80mi
2535 Greenmount Ave Unit 2 Baltimore, MD	2.0	1.0	800	$1,195	$1.49	45d	1	0.81mi
1802 E 28th St Baltimore, MD	3.0	1.0	1300	$1,600	$1.23	25d	1	0.83mi
2516 Barclay St Baltimore, MD	3.0	1.0	992	$1,375	$1.39	17d	1	0.86mi
1832 E 28th St Baltimore, MD	3.0	1.0	1066	$1,495	$1.40	25d	1	0.87mi

Listing history 18 events

1. 2026-06-21
   days on market $125,000 Active 60 DOM
2. 2026-06-18
   days on market $125,000 Active 57 DOM
3. 2026-06-17
   price $125,000 Active 56 DOM
4. 2026-06-17
   days on market $149,900 Active 56 DOM
5. 2026-06-16
   days on market $149,900 Active 55 DOM
6. 2026-06-15
   days on market $149,900 Active 54 DOM
7. 2026-06-13
   days on market $149,900 Active 52 DOM
8. 2026-06-09
   days on market $149,900 Active 48 DOM
9. 2026-06-08
   days on market $149,900 Active 47 DOM
10. 2026-06-07
    days on market $149,900 Active 46 DOM
11. 2026-06-04
    days on market $149,900 Active 43 DOM
12. 2026-06-03
    days on market $149,900 Active 42 DOM
13. 2026-06-02
    days on market $149,900 Active 41 DOM
14. 2026-06-01
    days on market $149,900 Active 40 DOM
15. 2026-05-31
    days on market $149,900 Active 39 DOM
16. 2026-05-04
    price $179,900 620-char remark
17. 2026-04-22
    listed $199,990 Active 620-char remark
18. 1985-07-02
    soldstatus $25,000

ⓘ 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: $1,992 · $166/mo
• Projected year-2 tax: $1,992 · $166/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 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $22,089
• − Mortgage interest: −$7,002
• − Property taxes: −$1,992
• − Insurance: −$625
• − Repairs & maintenance: −$1,767
• − Management: −$1,767
• − Depreciation: −$3,636
• Taxable income: $5,300
• Est. tax owed @ 24.0%: −$1,272
• After-tax cash flow: $5,695/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

+400.0% since first listed

6 events — show timeline

• 2026-06-17 Price Changed $125,000 BRIGHT MLS
• 2026-05-27 Price Changed $149,900 BRIGHT MLS
• 2026-05-19 Price Changed $159,900 BRIGHT MLS
• 2026-05-04 Price Changed $179,900 BRIGHT MLS
• 2026-04-22 Listed $199,990 BRIGHT MLS
• 1985-07-02 Sold (Public Records) $25,000 Public Records

Property tax history

-0.0%/yr

Latest (2025): $1,992 · +5.1% YoY. Source: county tax records.