120 N Potomac St · Baltimore, MD 21224

$154,900

2 bd · 1.0 ba · 960 sqft · Townhouse public records · 27 Days on market

Built 1920 1,742 sqft lot Est $164k · 6% under

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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 +24.0/30.0
• ARV discount +10.0/15.0
• DSCR +7.7/10.0
• 1% rule +6.8/10.0
• 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

Adorable 2BR/1.5BA Townhome located on a tree-lined street. Make your way to the front door and step inside a home filled with natural light and original hardwood floors. The main floor offers a spacious open concept living room and dining room, a kitchen with laundry, and a half bath. On the second floor is a two sizable secondary bedroom, a larger primary bedroom and a full bath with a double sink vanity. The lower level is clean and dry offering you the opportunity to create additional living space for your family's needs. The yard is fenced and features a covered deck and a spacious patio ideal for hosting family and friends. This home needs a bit of TLC, is ideal for any new homeowner

Key facts

• Covered deck
• Fenced yard
• Spacious patio

Tags

• ORIGINAL HARDWOOD FLOORS
• OPEN CONCEPT LIVING ROOM
• FENCED YARD
• COVERED DECK
• SPACIOUS PATIO

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Interior townhouse/rowhouse; Fee simple ownership; In city limits (Baltimore City)
• Construction: Brick construction; Built-up roof; Block foundation; Year built per assessor
• Exterior features: Deck(s); Patio(s); Basement with connecting stairway (full); Below-grade area finished/usable

Interior

• Kitchen: Stove; Refrigerator
• Bedrooms: Two bedrooms on the first upper level
• Flooring: Wood floors
• Bathrooms: One full bathroom on upper level; One half bathroom on main level
• Heating & cooling: Forced-air heating (natural gas); Central air conditioning (electric); Natural gas hot water
• Interior features: Open floor plan with combined dining and living area; Dining area; Ceiling fans; Wood floors; Tub/shower
• Laundry & utility: Main-floor laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $155k.

Deal economics

• At list price, monthly cash flow is $303 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $153k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.6% 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); 391 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $5k 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 27 days — a 2% lower offer ($153k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 29y ago; this cycle's ask has dropped $20k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $152,576 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.18% ✓
• Cap rate: 8.64%
• Cash-on-cash: 8.39%
• DSCR: 1.37
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $164,160
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
155 N Streeper St	0.10mi	2/2.0	912 (-5%)	0mo	$220,000	$241	83
530 N Curley St	0.27mi	3/1.0 (+1)	960 (0%)	2mo	$85,000	$89	81
20 N Decker Ave	0.07mi	3/1.0 (+1)	1,040 (+8%)	2mo	$149,000	$143	76
441 N East Ave	0.28mi	3/1.5 (+1)	976 (+2%)	2mo	$175,000	$179	76
3534 E Fairmount Ave	0.39mi	2/1.0	1,018 (+6%)	2mo	$86,000	$84	70
14 S Curley St	0.15mi	2/1.0	1,092 (+14%)	1mo	$269,000	$246	69
735 N Lakewood Ave	0.46mi	3/1.5 (+1)	970 (+1%)	2mo	$80,000	$82	68
3500 E Fairmount Ave	0.35mi	2/1.0	1,092 (+14%)	2mo	$107,000	$98	59
629 N Kenwood Ave	0.36mi	2/1.5	1,100 (+15%)	1mo	$76,500	$70	56
615 S Rose St	0.70mi	2/1.0	885 (-8%)	1mo	$151,000	$171	53
309 S Fagley St	0.68mi	2/2.0	1,030 (+7%)	1mo	$225,000	$218	52
622 S Glover St	0.69mi	2/1.0	832 (-13%)	0mo	$195,500	$235	45

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: -5.5%
• Equity multiple: 0.80×
• Total profit: $-8,769
• Equity at exit: $23,096

10-year hold

• IRR: 1.9%
• Equity multiple: 1.12×
• Total profit: $5,389
• Equity at exit: $13,393

Cash invested: $43,372 (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 21224

• Rents YoY: 1.3%
• Active inventory: 391
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,832 high
• Mortgage (P&I): −$812
• Tax from tax record: −$267 /mo · $3,201/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $303

Break-even live

Break-even rent $1,448

Max offer price $154,900

Occupancy floor 78%

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
203 N Ellwood Ave Unit Main Baltimore, MD	2.0	2.0	880	$2,200	$2.50	24d	1	0.11mi
29 N Ellwood Ave Baltimore, MD	3.0	1.5	1100	$2,395	$2.18	24d	1	0.11mi
3205 Esther Pl Baltimore, MD	2.0	2.0	960	$1,850	$1.93	24d	1	0.16mi
520 N Decker Ave Baltimore, MD	2.0	1.0	1000	$1,650	$1.65	44d	1	0.24mi
415 N Belnord Ave Baltimore, MD	2.0	1.0	1008	$1,300	$1.29	24d	1	0.25mi
127 N Glover St Baltimore, MD	2.0	1.5	1110	$2,100	$1.89	3d	1	0.25mi
2608 E Fayette St Unit 1 Baltimore, MD	2.0	1.0	900	$1,700	$1.89	15d	1	0.27mi
3344 E Baltimore St Unit 2 Baltimore, MD	1.0	1.0	545	$1,250	$2.29	44d	1	0.30mi
415 N Glover St Baltimore, MD	2.0	2.5	1092	$1,600	$1.47	24d	1	0.31mi
531 N Belnord Ave Baltimore, MD	2.0	1.5	1100	$1,700	$1.55	24d	1	0.32mi
104 N Rose St Baltimore, MD	3.0	2.0	936	$2,500	$2.67	44d	1	0.34mi
233 N Rose St Baltimore, MD	2.0	2.5	934	$1,750	$1.87	18d	1	0.35mi
502 N Glover St Baltimore, MD	2.0	1.5	827	$1,250	$1.51	20d	1	0.36mi
224 N Rose St Baltimore, MD	2.0	2.5	1120	$1,875	$1.67	18d	1	0.36mi
400 N Rose St #1 Baltimore, MD	1.0	1.0	588	$1,080	$1.84	44d	1	0.37mi
3413 Leverton Ave Baltimore, MD	2.0	1.0	832	$1,000	$1.20	24d	1	0.37mi
107 N Port St Baltimore, MD	2.0	2.0	870	$1,995	$2.29	24d	1	0.41mi
402 N Milton Ave Unit 402B Baltimore, MD	2.0	1.0	950	$1,290	$1.36	44d	1	0.41mi
517 N Rose St Baltimore, MD	3.0	1.0	845	$1,400	$1.66	4d	1	0.41mi
437 N Montford Ave Baltimore, MD	3.0	1.5	1100	$1,450	$1.32	44d	1	0.47mi
16 N Bradford St Baltimore, MD	2.0	3.5	930	$2,400	$2.58	4d	1	0.50mi
201 S Conkling St Baltimore, MD	1.0	1.0	740	$1,500	$2.03	2d	2	0.51mi
2729 Ashland Ave Baltimore, MD	3.0	1.0	1000	$1,350	$1.35	3d	1	0.52mi
2308 Jefferson St Baltimore, MD	3.0	1.0	907	$1,450	$1.60	44d	1	0.54mi
400 S Highland Ave Unit 402 Baltimore, MD	2.0	1.0	900	$1,700	$1.89	44d	1	0.55mi
3232 Eastern Ave Baltimore, MD	1.0	1.5	874	$2,260	$2.59	2d	1	0.56mi
618 N Montford Ave Baltimore, MD	3.0	1.0	1050	$1,468	$1.40	44d	1	0.56mi
618 N Montford Ave Baltimore, MD	3.0	1.0	1050	$1,468	$1.40	15d	1	0.56mi
108 N Madeira St Baltimore, MD	2.0	2.0	1098	$1,900	$1.73	44d	1	0.57mi
720 N Port St Baltimore, MD	2.0	1.0	950	$1,300	$1.37	44d	1	0.58mi
3235 Eastern Ave Unit 2FL Baltimore, MD	1.0	1.0	552	$1,795	$3.25	4d	1	0.59mi
400 S Conkling St Unit 3 Baltimore, MD	1.0	1.0	700	$1,700	$2.43	44d	1	0.60mi
107 S Collington Ave Unit 2 REAR Baltimore, MD	1.0	1.0	600	$1,800	$3.00	4d	1	0.64mi
211 S Madeira St Baltimore, MD	2.0	1.0	819	$1,650	$2.01	4d	1	0.65mi
227 S Madeira St Baltimore, MD	2.0	2.5	1100	$2,200	$2.00	44d	1	0.65mi
643 S Potomac St Baltimore, MD	2.0	1.0	785	$1,650	$2.10	44d	1	0.66mi
223 Grundy St Baltimore, MD	2.0	1.0	864	$1,450	$1.68	24d	1	0.68mi
321 Fagley St Baltimore, MD	2.0	1.0	800	$1,650	$2.06	20d	1	0.69mi
305 S Collington Ave Baltimore, MD	3.0	2.5	722	$2,895	$4.01	17d	1	0.73mi
2309 Eastern Ave Unit B Baltimore, MD	1.0	1.0	550	$1,295	$2.35	44d	1	0.74mi

Listing history 19 events

1. 2026-06-16
   status $154,900 Pending 27 DOM
2. 2026-06-15
   days on market $154,900 Active 27 DOM
3. 2026-06-13
   pricedays on market $154,900 Active 25 DOM
4. 2026-06-09
   days on market $164,900 Active 21 DOM
5. 2026-06-08
   days on market $164,900 Active 20 DOM
6. 2026-06-07
   days on market $164,900 Active 19 DOM
7. 2026-06-04
   days on market $164,900 Active 16 DOM
8. 2026-06-03
   days on market $164,900 Active 15 DOM
9. 2026-06-02
   days on market $164,900 Active 14 DOM
10. 2026-06-02
    price $164,900 Active 13 DOM
11. 2026-06-01
    days on market $170,000 Active 13 DOM
12. 2026-05-31
    days on market $170,000 Active 12 DOM
13. 2026-05-22
    price $170,000
14. 2026-05-19
    listed $175,000 Active
15. 2018-03-01
    soldstatus $4,552,396
16. 1997-12-08
    historical
17. 1997-06-11
    listed
18. 1990-03-15
    soldstatus $47,600
19. 1989-11-02
    soldstatus $37,500

ⓘ 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: $3,201 · $267/mo
• Projected year-2 tax: $3,201 · $267/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 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: $21,980
• − Mortgage interest: −$8,677
• − Property taxes: −$3,201
• − Insurance: −$774
• − Repairs & maintenance: −$1,758
• − Management: −$1,758
• − Depreciation: −$4,506
• Taxable income: $1,304
• Est. tax owed @ 24.0%: −$313
• After-tax cash flow: $3,327/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

+353.3% since first listed

7 events — show timeline

• 2026-05-22 Price Changed $170,000 BRIGHT MLS
• 2026-05-19 Listed $175,000 BRIGHT MLS
• 2018-03-01 Sold (Public Records) $4,552,396 Public Records
• 1997-12-08 Delisted — MRIS
• 1997-06-11 Listed — MRIS
• 1990-03-15 Sold (Public Records) $47,600 Public Records
• 1989-11-02 Sold (Public Records) $37,500 Public Records

Property tax history

+2.3%/yr

Latest (2025): $3,201 · +5.0% YoY. Source: county tax records.