1708 E Federal St · Baltimore, MD 21213

$224,990

4 bd · 1.0 ba · 725 sqft · Townhouse public records · 35 Days on market

Built 1915 1,095 sqft lot $310/sqft · 125% above area Est $276k · 19% 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 +21.8/30.0
• ARV discount +15.0/15.0
• DSCR +7.0/10.0
• Appreciation +4.7/10.0
• 1% rule +4.4/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0

Listing remarks MLS

GORGEOUS BRAND NEW RENOVATION NOW AVAILABLE. GLISTENING LVP FLOORING CASCADES THROUGHOUT. ENJOY CUSTOM WHITE CABINETRY, UPGRADED TRIM AND PAINT PACKAGE, IMPORTED TILE, STUNNING QUARTZ COUNTERTOPS, HIGH END FRIGIDAIRE SS APPLIANCE PACKAGE IN DESIGNER CHEF'S KITCHEN. TONS OF NATURAL LIGHT. HIGH CEILINGS. TONS OF STORAGE. WALK-IN SHOWERS. WALK-IN CLOSETS. SPACIOUS 4 BEDROOMS WITH 3.5 BATHROOMS - RARE TO FIND 3 BEDROOMS ABOVE GRADE. REAR FENCED IN YARD - GREAT FOR ENTERTAINING. CLOSE PROXIMITY TO RETAIL SHOPPING, LOCAL DINING, AND ALL MAJOR HIGHWAYS. SCHEDULE A PRIVATE TOUR TODAY.

Key facts

• Imported tile
• Upgraded trim
• Brand new renovation

Tags

• BRAND NEW RENOVATION
• CUSTOM WHITE CABINETRY
• UPGRADED TRIM
• IMPORTED TILE
• STUNNING QUARTZ COUNTERTOPS
• DESIGNER CHEF'S KITCHEN

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath townhouse listed at $225k.

Deal economics

• At list price, monthly cash flow is $351 ($4k/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 $212k (5.9% below list).
• Recommended offer: $212k (5.9% below list) — sets the bar for 1% rule.
• Cap rate 8.2% 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 (+5.2%/yr); 319 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 $2,118/mo this rent would consume 50% of the median local household income ($51k/yr) (locally 1868% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $278 of equity ($2k loan paydown + $-1k appreciation (-0.6% local appreciation)).
• Baltimore County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-0.6% appreciation + 5.2% rent growth), your $63k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 20y 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 $19k; list at $225k implies a 1072% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — 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 $211,811 (5.9% below list)

Questions for the listing agent

1. It's been on market 35 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 1915 — 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: 0.94% ✗
• Cap rate: 8.16%
• Cash-on-cash: 6.68%
• DSCR: 1.30
• GRM: 8.9

CMA / ARV

• ARV (median comp): $276,426
• List price: $224,990
• Delta: -18.61%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1614 N Port St	0.55mi	3/1.0 (-1)	800 (+10%)	20mo	$25,000	$31	36
2305 Ashland Ave	0.75mi	3/1.0 (-1)	616 (-15%)	4mo	$78,000	$127	32

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.57% appreciation · 5.25% rent growth · sell at horizon

5-year hold

• IRR: 5.0%
• Equity multiple: 1.23×
• Total profit: $14,612
• Equity at exit: $59,013

10-year hold

• IRR: 12.3%
• Equity multiple: 2.35×
• Total profit: $85,084
• Equity at exit: $66,072

Cash invested: $62,997 (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 21213

• Home prices YoY: -0.1%
• Rents YoY: 5.2%
• Active inventory: 319
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,118 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$49 /mo · $587/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$445
• Net cashflow: $351

Break-even live

Break-even rent $1,674

Max offer price $224,990

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: $56,248
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1607 Hakesley Pl Baltimore, MD	3.0	1.0	720	$1,400	$1.94	43d	1	0.32mi
2410 E Federal St Baltimore, MD	4.0	2.0	720	$2,200	$3.06	23d	1	0.54mi
1100 Greenmount Ave Baltimore, MD	1.0–3.0	1.0–2.0	839	$2,584	$3.08	2d	1	0.86mi
231 E North Ave Baltimore, MD	3.0	1.0	430	$1,200	$2.79	16d	3	1.00mi
500 N Rose St Baltimore, MD	3.0	2.0	520	$1,200	$2.31	4d	1	1.06mi
103 E Mt Royal Ave Baltimore, MD	1.0–3.0	1.0–2.0	850	$2,624	$3.09	1d	17	1.09mi
1301 Saint Paul St Baltimore, MD	3.0	1.0–3.0	1050	$2,399	$2.28	43d	1	1.12mi
900 Cathedral St Baltimore, MD	3.0	1.0	902	$2,699	$2.99	2d	4	1.41mi

Listing history 14 events

1. 2026-05-06
   status Pending 583-char remark

   Show marketing remark (583 chars)

   GORGEOUS BRAND NEW RENOVATION NOW AVAILABLE. GLISTENING LVP FLOORING CASCADES THROUGHOUT. ENJOY CUSTOM WHITE CABINETRY, UPGRADED TRIM AND PAINT PACKAGE, IMPORTED TILE, STUNNING QUARTZ COUNTERTOPS, HIGH END FRIGIDAIRE SS APPLIANCE PACKAGE IN DESIGNER CHEF'S KITCHEN. TONS OF NATURAL LIGHT. HIGH CEILINGS. TONS OF STORAGE. WALK-IN SHOWERS. WALK-IN CLOSETS. SPACIOUS 4 BEDROOMS WITH 3.5 BATHROOMS - RARE TO FIND 3 BEDROOMS ABOVE GRADE. REAR FENCED IN YARD - GREAT FOR ENTERTAINING. CLOSE PROXIMITY TO RETAIL SHOPPING, LOCAL DINING, AND ALL MAJOR HIGHWAYS. SCHEDULE A PRIVATE TOUR TODAY.

2. 2026-04-30
   price $224,990 583-char remark

   Show marketing remark (583 chars)

   GORGEOUS BRAND NEW RENOVATION NOW AVAILABLE. GLISTENING LVP FLOORING CASCADES THROUGHOUT. ENJOY CUSTOM WHITE CABINETRY, UPGRADED TRIM AND PAINT PACKAGE, IMPORTED TILE, STUNNING QUARTZ COUNTERTOPS, HIGH END FRIGIDAIRE SS APPLIANCE PACKAGE IN DESIGNER CHEF'S KITCHEN. TONS OF NATURAL LIGHT. HIGH CEILINGS. TONS OF STORAGE. WALK-IN SHOWERS. WALK-IN CLOSETS. SPACIOUS 4 BEDROOMS WITH 3.5 BATHROOMS - RARE TO FIND 3 BEDROOMS ABOVE GRADE. REAR FENCED IN YARD - GREAT FOR ENTERTAINING. CLOSE PROXIMITY TO RETAIL SHOPPING, LOCAL DINING, AND ALL MAJOR HIGHWAYS. SCHEDULE A PRIVATE TOUR TODAY.

3. 2026-03-31
   listed $235,000 Active 583-char remark

   Show marketing remark (583 chars)

   GORGEOUS BRAND NEW RENOVATION NOW AVAILABLE. GLISTENING LVP FLOORING CASCADES THROUGHOUT. ENJOY CUSTOM WHITE CABINETRY, UPGRADED TRIM AND PAINT PACKAGE, IMPORTED TILE, STUNNING QUARTZ COUNTERTOPS, HIGH END FRIGIDAIRE SS APPLIANCE PACKAGE IN DESIGNER CHEF'S KITCHEN. TONS OF NATURAL LIGHT. HIGH CEILINGS. TONS OF STORAGE. WALK-IN SHOWERS. WALK-IN CLOSETS. SPACIOUS 4 BEDROOMS WITH 3.5 BATHROOMS - RARE TO FIND 3 BEDROOMS ABOVE GRADE. REAR FENCED IN YARD - GREAT FOR ENTERTAINING. CLOSE PROXIMITY TO RETAIL SHOPPING, LOCAL DINING, AND ALL MAJOR HIGHWAYS. SCHEDULE A PRIVATE TOUR TODAY.

4. 2009-10-31
   historical Expired
5. 2009-10-30
   historical
6. 2009-07-03
   status Active
7. 2009-07-01
   historical
8. 2008-12-18
   listed
9. 2008-12-18
   listed $15,000
10. 2006-06-30
    soldstatus $19,200
11. 2006-06-07
    historical
12. 2006-02-25
    listed
13. 1997-12-30
    soldstatus $17,000
14. 1997-12-24
    soldstatus $45,000

ⓘ 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: $587 · $49/mo
• Projected year-2 tax: $1,520 · $127/mo
• Expected delta: +$933/yr (+$78/mo · 158.8%)

ⓘ 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: $25,417
• − Mortgage interest: −$12,603
• − Property taxes: −$587
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,033
• − Management: −$2,033
• − Depreciation: −$6,545
• Taxable income: $490
• Est. tax owed @ 24.0%: −$118
• After-tax cash flow: $4,091/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): 28,058
• Household income: $51,344
• Rent vs Own: 48.0% rent · 52.0% own
• Severe rent burden: 1868.0

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 (86%)
• Race & ethnicity: Black 86% White 6% Hispanic / Latino 4% Two or more races 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -0.57%
• Current HPI: 427.4453
• Rent YoY: ▲ 5.25%
• 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

14 events — show timeline

• 2026-05-06 Pending — BRIGHT MLS
• 2026-04-30 Price Changed $224,990 BRIGHT MLS
• 2026-03-31 Listed $235,000 BRIGHT MLS
• 2009-10-31 Delisted — MRIS
• 2009-10-30 Listing Removed — BRIGHT MLS
• 2009-07-03 Relisted — MRIS
• 2009-07-01 Delisted — MRIS
• 2008-12-18 Listed — MRIS
• 2008-12-18 Listed $15,000 BRIGHT MLS
• 2006-06-30 Sold (Public Records) $19,200 Public Records
• 2006-06-07 Delisted — MRIS
• 2006-02-25 Listed — MRIS
• 1997-12-30 Sold (Public Records) $17,000 Public Records
• 1997-12-24 Sold (Public Records) $45,000 Public Records

Property tax history

+15.1%/yr

Latest (2025): $587 · -71.3% YoY. Source: county tax records.