2815 E Chase St · Baltimore, MD 21213

$209,900

3 bd · 2.0 ba · 1,280 sqft · Townhouse public records · 28 Days on market

Built 1928 1,078 sqft lot $164/sqft · 98% above area

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Why this score? — see what drove the D+ 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 +17.2/30.0
• ARV discount +7.5/15.0
• DSCR +5.4/10.0
• Appreciation +4.7/10.0
• 1% rule +3.8/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0

Listing remarks

Welcome home to this fully renovated 3-bedroom, 2.5-bathroom gem, offering the perfect blend of modern luxury and serene privacy on a quiet dead-end street. Step inside to discover stunning wood flooring, a bright, open-concept layout, and meticulous attention to detail. The finished basement offers versatile space for a home office, gym, or entertainment hub. Move right in and enjoy the peace of mind that comes with complete, top-to-bottom upgrades. Don't miss this rare opportunity to own a stylish, turn-key home.

Key facts

• Fully renovated
• Finished basement
• Open-concept layout

Tags

• FULLY RENOVATED
• FINISHED BASEMENT
• OPEN-CONCEPT LAYOUT
• QUIET DEAD-END STREET

Property features AI

Finance

• Other: Total below-grade area: 666; Above-grade finished area reported by assessor: 1,140; Below-grade finished area reported by assessor: 140; Below-grade unfinished area reported by assessor: 526; Land and improvement assessed values reported (assessor sources)
• Financial info: Ownership interest: Ground rent; Annual ground rent payment (listed in income/expense)

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Cable available; Electric available; Phone available; Hot water: electric
• Home design: End of Row/Townhouse; Effective major renovation in 2026
• Construction: Brick construction; Slab foundation; Above-grade and below-grade structures
• Exterior features: End-of-row townhouse; Ground rent exists (semi-annual payment)

Interior

• Bedrooms: Three bedrooms on the first upper level
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Radiator heat (electric fuel); Central air conditioning (electric)
• Interior features: Fully finished basement; Living area measured by assessor

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $210k.

Deal economics

• At list price, monthly cash flow is $151 ($2k/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 $185k (11.8% below list).
• Recommended offer: $185k (11.8% below list) — sets the bar for 1% rule.

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: Fort Worthington Elementary/Middle (math 0% / reading 5%, grade F, #824 of 860 statewide, top 96%, 693 students, 83% FRL); Vanguard Collegiate Middle (math 3% / reading 15%, grade F, #212 of 225 statewide, top 95%, 343 students, 84% FRL); Baltimore Polytechnic Institute (math 71% / reading 84%, grade A-, #22 of 222 statewide, top 10%, 1,555 students, 43% FRL).
• Zoned-school proficiency averages 30% at this address vs 12% district-wide (+18 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 fast (+5.2%/yr); 319 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); 48% 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).
• This rent runs 43% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $259 of equity ($1k 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 $59k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($207k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1928 — 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 $185,132 (11.8% below list)

Questions for the listing agent

1. Built in 1928 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.88% ✗
• Cap rate: 7.16%
• Cash-on-cash: 3.09%
• DSCR: 1.14
• GRM: 9.4

CMA / ARV

• ARV (median comp): $106,153
• List price: $209,900
• Delta: 97.73%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1418 N Linwood Ave	0.28mi	3/1.0	1,356 (+6%)	0mo	$90,000	$66	73
2736 Mura St	0.14mi	3/2.0	1,120 (-12%)	0mo	$81,000	$72	72
1411 Kenhill Ave	0.26mi	4/2.0 (+1)	1,356 (+6%)	1mo	$240,000	$177	72
2435 Jefferson St	0.56mi	3/1.0	1,260 (-2%)	1mo	$140,000	$111	67
220 N Luzerne Ave	0.61mi	3/1.0	1,372 (+7%)	1mo	$120,000	$87	55
122 Ellwood Ave	0.71mi	3/1.5	1,200 (-6%)	0mo	$235,000	$196	54
629 N Kenwood Ave	0.36mi	2/1.5 (-1)	1,100 (-14%)	1mo	$76,500	$70	52
145 N Milton Ave	0.70mi	2/2.0 (-1)	1,353 (+6%)	1mo	$260,000	$192	52
410 N Patterson Park Ave	0.67mi	3/1.0	1,180 (-8%)	0mo	$180,000	$153	51
1009 N Washington St N	0.64mi	2/2.5 (-1)	1,386 (+8%)	0mo	$235,000	$170	49
134 N Curley St	0.68mi	2/2.0 (-1)	1,170 (-9%)	1mo	$270,000	$231	48
36 N Decker Ave	0.75mi	3/2.0	1,430 (+12%)	0mo	$325,000	$227	45

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: 0.8%
• Equity multiple: 1.04×
• Total profit: $2,173
• Equity at exit: $55,055

10-year hold

• IRR: 8.5%
• Equity multiple: 1.92×
• Total profit: $53,902
• Equity at exit: $61,641

Cash invested: $58,772 (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: 9.4×

Monthly cashflow live

• Estimated rent: $1,851 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$123 /mo · $1,479/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $151

Break-even live

Break-even rent $1,660

Max offer price $209,900

Occupancy floor 87%

Sensitivity live

Price	-10% $270	-5% $211	+0% $151	+5% $92	+10% $32
Rent	-10% $5	-5% $78	+0% $151	+5% $224	+10% $297
Rate	-1.0pp $257	-0.5pp $205	base $151	+0.5pp $97	+1.0pp $41

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: $52,475
• Closing costs: $6,297
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2706 E Biddle St Baltimore, MD	3.0	2.0	1577	$1,395	$0.88	45d	1	0.11mi
2626 E Preston St Baltimore, MD	3.0	1.0	1136	$1,800	$1.58	45d	1	0.19mi
1323 N Kenwood Ave Unit 1 Baltimore, MD	2.0	1.5	1060	$1,350	$1.27	25d	1	0.19mi
2729 Ashland Ave Baltimore, MD	3.0	1.0	1000	$1,350	$1.35	4d	1	0.21mi
1215 N Ellwood Ave Baltimore, MD	3.0	1.0	1128	$1,795	$1.59	25d	1	0.24mi
1403 N Linwood Ave Baltimore, MD	3.0	2.0	1660	$1,995	$1.20	45d	1	0.24mi
809 N Curley St Baltimore, MD	3.0	1.0	1746	$1,400	$0.80	23d	1	0.26mi
1310 N Ellwood Ave Baltimore, MD	2.0	1.0	1000	$1,450	$1.45	14d	1	0.27mi
1310 N Ellwood Ave #1 Baltimore, MD	2.0	1.0	1000	$1,550	$1.55	23d	1	0.27mi
2815 E Madison St Baltimore, MD	4.0	2.0	1300	$2,500	$1.92	45d	1	0.28mi
2430 E Biddle St Baltimore, MD	2.0	2.0	1300	$2,000	$1.54	45d	1	0.28mi
2621 E Oliver St Baltimore, MD	3.0	2.0	1600	$1,700	$1.06	25d	1	0.30mi
724 N Curley St Baltimore, MD	3.0	3.0	1500	$2,200	$1.47	6d	1	0.30mi
718 N Curley St Baltimore, MD	3.0	3.0	1500	$2,000	$1.33	6d	1	0.31mi
2934 E Monument St Baltimore, MD	2.0	1.0	1200	$1,499	$1.25	45d	1	0.35mi
627 N Lakewood Ave Baltimore, MD	3.0	2.5	1175	$1,850	$1.57	0d	1	0.39mi
2522 E Federal St Baltimore, MD	2.0	2.0	1760	$1,400	$0.80	45d	1	0.41mi
720 N Port St Baltimore, MD	2.0	1.0	950	$1,300	$1.37	45d	1	0.42mi
2608 McElderry St Baltimore, MD	3.0	1.0	1144	$1,525	$1.33	0d	1	0.44mi
531 N Belnord Ave Baltimore, MD	2.0	1.5	1100	$1,700	$1.55	25d	1	0.44mi
537 N Lakewood Ave Baltimore, MD	3.0	3.5	1755	$2,050	$1.17	45d	1	0.44mi
533 N Lakewood Ave Baltimore, MD	4.0	3.5	1758	$4,500	$2.56	45d	1	0.45mi
2215 E Biddle St Baltimore, MD	2.0	2.5	1350	$1,800	$1.33	45d	1	0.46mi
539 N Luzerne Ave Baltimore, MD	3.0	2.5	1702	$2,300	$1.35	45d	1	0.46mi
2202 Prentiss Pl Baltimore, MD	3.0	2.0	1400	$2,400	$1.71	45d	1	0.47mi
520 N Decker Ave Baltimore, MD	2.0	1.0	1000	$1,650	$1.65	45d	1	0.49mi
618 N Montford Ave Baltimore, MD	3.0	1.0	1050	$1,468	$1.40	16d	1	0.50mi
618 N Montford Ave Baltimore, MD	3.0	1.0	1050	$1,468	$1.40	45d	1	0.50mi
2903 Jefferson St Baltimore, MD	3.0	3.0	1609	$1,850	$1.15	45d	1	0.51mi
2431 McElderry St Baltimore, MD	4.0	2.5	1600	$2,100	$1.31	45d	1	0.51mi
821 N Collington Ave Baltimore, MD	3.0	2.0	1150	$1,950	$1.70	45d	1	0.53mi
415 N Belnord Ave Baltimore, MD	2.0	1.0	1008	$1,300	$1.29	25d	1	0.53mi
3304 McElderry St Baltimore, MD	3.0	2.0	1413	$1,900	$1.34	45d	1	0.53mi
415 N Glover St Baltimore, MD	2.0	2.5	1092	$1,600	$1.47	25d	1	0.54mi
2800 Orleans St Baltimore, MD	3.0	1.0	1404	$1,600	$1.14	16d	1	0.55mi
2800 Orleans St Baltimore, MD	3.0	1.0	1404	$1,600	$1.14	19d	1	0.55mi
2212 E Monument St Unit 2 Baltimore, MD	2.0	1.0	1200	$1,550	$1.29	19d	1	0.56mi
2815 Orleans St Baltimore, MD	2.0	1.0	1204	$1,600	$1.33	3d	1	0.58mi
425 N Milton Ave Baltimore, MD	3.0	1.0	1200	$1,525	$1.27	16d	1	0.58mi
404 N Robinson St Baltimore, MD	3.0	3.0	1320	$2,200	$1.67	25d	1	0.60mi

Listing history 1 events

1. 2026-04-28
   listed $209,900 Active 520-char remark

ⓘ 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: $1,479 · $123/mo
• Projected year-2 tax: $1,883 · $157/mo
• Expected delta: +$405/yr (+$34/mo · 27.4%)

ⓘ 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 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,216
• − Mortgage interest: −$11,758
• − Property taxes: −$1,479
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,777
• − Management: −$1,777
• − Depreciation: −$6,106
• Taxable loss: −$1,731
• Est. tax savings @ 24.0%: +$415
• After-tax cash flow: $2,229/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

2 events — show timeline

• 2026-05-28 Listing Removed — BRIGHT MLS
• 2026-04-28 Listed $209,900 BRIGHT MLS

Property tax history

-0.7%/yr

Latest (2023): $1,479 · -3.4% YoY. Source: county tax records.