2365 Washington Blvd · Baltimore, MD 21230

$85,000

3 bd · 1.0 ba · 1,096 sqft · Townhouse public records · 91 Days on market

Built 1924 1,059 sqft lot $78/sqft · at area comps Est $81k · at est.

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +5.5/15.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover the potential of this charming brick-front rowhome with a covered front porch, ready for your vision and creativity. Featuring original hardwood floors throughout, this home is filled with character and natural light, offering a spacious layout with endless possibilities for updates and renovations. The upper level includes three bedrooms and a full bathroom with a skylight, adding a touch of natural brightness. The bathroom features a tub/shower combo, providing functionality and convenience. The fully fenced backyard is a private retreat with no alley, offering ample space for outdoor activities, gardening, or relaxing. Enjoy stunning skyline views of the entire city right from your backyard—a unique and captivating feature. Conveniently located near I-95, I-295, and the Inner Harbor, this property offers both privacy and accessibility to everything Baltimore has to offer. With some TLC, this home can be transformed into a true gem. Schedule your showing today and explore the possibilities!

Key facts

• Built 1924
• Listed 91 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $85k.

Deal economics

• At list price, monthly cash flow is $795 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $77k (9.0% below list) — sets the bar for market timing.
• Cap rate 17.5% 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 soft (-1.0%/yr); 362 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 $588 of loan paydown is wiped out by about $3k 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 + 0.0% rent growth), your $24k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 10 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.

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 $77,350 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% 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. 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: 2.10% ✓
• Cap rate: 17.51%
• Cash-on-cash: 40.06%
• DSCR: 2.78
• GRM: 4.0

CMA / ARV

• ARV (median comp): $81,316
• List price: $85,000
• Delta: 4.53%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1935 Grinnalds Ave	0.12mi	3/2.0	1,080 (-2%)	1mo	$119,000	$110	87
1919 Grinnalds Ave	0.11mi	3/1.0	1,080 (-2%)	7mo	$130,000	$120	87
2149 Harman Ave	0.29mi	2/1.0 (-1)	1,050 (-4%)	2mo	$115,000	$110	73
2809 Washington Blvd	0.48mi	3/1.0	1,110 (+1%)	3mo	$80,000	$72	73
2036 Deering Ave	0.47mi	3/1.5	1,112 (+2%)	3mo	$129,900	$117	71
2527 Tolley St	0.30mi	2/1.0 (-1)	1,050 (-4%)	6mo	$120,000	$114	69
2521 S Paca St	0.47mi	3/1.5	1,152 (+5%)	1mo	$30,000	$26	66
2000 Hollins Ferry Rd	0.17mi	3/1.5	1,248 (+14%)	1mo	$135,000	$108	66
2014 Grinnalds Ave	0.16mi	2/2.0 (-1)	1,015 (-7%)	6mo	$80,000	$79	66
1710 Wickes Ave	0.45mi	3/2.0	1,024 (-7%)	3mo	$150,000	$146	62
2138 Whistler Ave	0.32mi	2/1.0 (-1)	1,260 (+15%)	0mo	$145,000	$115	55
2439 Ridgely St	0.52mi	4/2.5 (+1)	1,152 (+5%)	4mo	$222,000	$193	53

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 32.9%
• Equity multiple: 2.33×
• Total profit: $31,648
• Equity at exit: $12,674

10-year hold

• IRR: 38.2%
• Equity multiple: 4.05×
• Total profit: $72,692
• Equity at exit: $7,349

Cash invested: $23,800 (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 21230

• Rents YoY: -1.0%
• Active inventory: 362
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,784 high
• Mortgage (P&I): −$446
• Tax from tax record: −$134 /mo · $1,607/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $795

Break-even live

Break-even rent $779

Max offer price $85,000

Occupancy floor 50%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1931 Griffis Ave Baltimore, MD	2.0	1.0	912	$1,349	$1.48	4d	1	0.10mi
2056 Griffis Ave Baltimore, MD	3.0	1.5	1230	$1,495	$1.22	21d	1	0.21mi
2514 Wilkens Ave Baltimore, MD	4.0	1.0	1344	$1,800	$1.34	43d	1	0.77mi
2514 Wilkens Ave Baltimore, MD	4.0	1.0	1344	$1,800	$1.34	10d	1	0.77mi
2737 Wilkens Ave Baltimore, MD	3.0	1.5	1232	$1,650	$1.34	4d	1	0.78mi
2509 Christian St Baltimore, MD	4.0	2.0	1248	$1,699	$1.36	3d	1	0.79mi
2671 Saint Benedict St Baltimore, MD	2.0	1.0	1144	$1,325	$1.16	43d	1	0.80mi
2738 Wilkens Ave Baltimore, MD	3.0	1.0	1183	$1,500	$1.27	43d	1	0.81mi
514 S Payson St Unit 2 Baltimore, MD	3.0	2.0	1264	$1,750	$1.38	43d	1	0.84mi
2657 Lehman St Unit 1 Baltimore, MD	2.0	1.0	1056	$1,000	$0.95	43d	1	0.89mi
3004 Elizabeth Ave Unit 1 Baltimore, MD	3.0	1.0	1024	$1,395	$1.36	4d	1	0.94mi
3017 Janice Ave Baltimore, MD	3.0	1.0	1024	$1,995	$1.95	23d	1	0.95mi
1432 Carroll St Baltimore, MD	2.0	1.5	912	$1,900	$2.08	43d	1	0.97mi
307 S Smallwood St Baltimore, MD	2.0	2.5	1400	$1,350	$0.96	43d	1	1.03mi
2540 Frederick Ave Baltimore, MD	3.0	1.0	1075	$1,400	$1.30	23d	1	1.03mi
332 S Franklintown Rd Unit 2 Baltimore, MD	2.0	1.0	776	$795	$1.02	23d	1	1.05mi
2600 W Patapsco Ave Baltimore, MD	1.0–2.0	1.0	856	$1,309	$1.53	2d	24	1.08mi
1303 James St Baltimore, MD	2.0	1.5	1160	$1,350	$1.16	23d	1	1.10mi
1127 S Carey St Baltimore, MD	3.0	2.5	1340	$1,900	$1.42	4d	1	1.13mi
1101 S Carey St Baltimore, MD	2.0	2.0	1400	$1,200	$0.86	21d	1	1.14mi
1259 Washington Blvd Baltimore, MD	3.0	3.0	1232	$2,999	$2.43	4d	1	1.15mi
1262 Glyndon Ave Baltimore, MD	2.0	3.0	1258	$1,850	$1.47	23d	1	1.15mi
1243 Washington Blvd Baltimore, MD	3.0	2.0	1148	$1,950	$1.70	43d	1	1.17mi
1253 Sargeant St Baltimore, MD	2.0	1.5	1200	$1,695	$1.41	23d	1	1.17mi
110 S Catherine St Unit 1 Baltimore, MD	2.0	1.0	1330	$1,500	$1.13	43d	1	1.17mi
1205 Cleveland St Baltimore, MD	2.0	2.0	1232	$1,900	$1.54	43d	1	1.21mi
1215 James St Baltimore, MD	2.0	1.0	960	$1,500	$1.56	43d	1	1.21mi
305 S Calhoun St Baltimore, MD	2.0	1.0	1000	$1,300	$1.30	21d	1	1.21mi
2200 W Patapsco Ave Baltimore, MD	3.0	1.0	890	$1,569	$1.76	43d	1	1.21mi
1163 Washington Blvd Baltimore, MD	2.0	2.5	1012	$1,700	$1.68	12d	1	1.25mi
1708 Hall Ave Unit 2 Halethorpe, MD	2.0	1.0	845	$1,625	$1.92	11d	1	1.25mi
3130 Stafford St Baltimore, MD	3.0	1.0	1200	$1,500	$1.25	20d	1	1.26mi
1160 Washington Blvd Baltimore, MD	2.0	1.0	960	$1,575	$1.64	23d	1	1.26mi
2537 Hollins St Baltimore, MD	3.0	2.0	1200	$1,450	$1.21	23d	1	1.28mi
1142 Sargeant St Baltimore, MD	3.0	2.0	1080	$1,601	$1.48	1d	1	1.29mi
1127 Sargeant St Baltimore, MD	2.0	1.5	1080	$1,275	$1.18	23d	1	1.29mi
1125 Washington Blvd Baltimore, MD	4.0	2.5	1200	$2,750	$2.29	17d	1	1.29mi
2516 Hollins St Baltimore, MD	3.0	2.0	1100	$1,700	$1.55	43d	1	1.29mi
2225 W Baltimore St Baltimore, MD	3.0	2.5	1200	$1,600	$1.33	23d	1	1.30mi
1132 Nanticoke St Baltimore, MD	2.0	2.5	1500	$1,875	$1.25	23d	1	1.31mi

Listing history 46 events

1. 2026-06-18
   days on market $85,000 Active 91 DOM
2. 2026-06-17
   days on market $85,000 Active 90 DOM
3. 2026-06-16
   days on market $85,000 Active 89 DOM
4. 2026-06-15
   days on market $85,000 Active 88 DOM
5. 2026-06-13
   days on market $85,000 Active 86 DOM
6. 2026-06-09
   days on market $85,000 Active 82 DOM
7. 2026-06-08
   days on market $85,000 Active 81 DOM
8. 2026-06-07
   days on market $85,000 Active 80 DOM
9. 2026-06-04
   days on market $85,000 Active 77 DOM
10. 2026-06-03
    days on market $85,000 Active 76 DOM
11. 2026-06-02
    days on market $85,000 Active 75 DOM
12. 2026-06-01
    days on market $85,000 Active 74 DOM
13. 2026-05-31
    days on market $85,000 Active 73 DOM
14. 2026-03-19
    listed $85,000 Active 1022-char remark

    Show marketing remark (1022 chars)

    Discover the potential of this charming brick-front rowhome with a covered front porch, ready for your vision and creativity. Featuring original hardwood floors throughout, this home is filled with character and natural light, offering a spacious layout with endless possibilities for updates and renovations. The upper level includes three bedrooms and a full bathroom with a skylight, adding a touch of natural brightness. The bathroom features a tub/shower combo, providing functionality and convenience. The fully fenced backyard is a private retreat with no alley, offering ample space for outdoor activities, gardening, or relaxing. Enjoy stunning skyline views of the entire city right from your backyard—a unique and captivating feature. Conveniently located near I-95, I-295, and the Inner Harbor, this property offers both privacy and accessibility to everything Baltimore has to offer. With some TLC, this home can be transformed into a true gem. Schedule your showing today and explore the possibilities!

15. 2026-03-19
    historical $85,000 1022-char remark

    Show marketing remark (1022 chars)

    Discover the potential of this charming brick-front rowhome with a covered front porch, ready for your vision and creativity. Featuring original hardwood floors throughout, this home is filled with character and natural light, offering a spacious layout with endless possibilities for updates and renovations. The upper level includes three bedrooms and a full bathroom with a skylight, adding a touch of natural brightness. The bathroom features a tub/shower combo, providing functionality and convenience. The fully fenced backyard is a private retreat with no alley, offering ample space for outdoor activities, gardening, or relaxing. Enjoy stunning skyline views of the entire city right from your backyard—a unique and captivating feature. Conveniently located near I-95, I-295, and the Inner Harbor, this property offers both privacy and accessibility to everything Baltimore has to offer. With some TLC, this home can be transformed into a true gem. Schedule your showing today and explore the possibilities!

16. 2025-03-06
    historical
17. 2025-02-14
    price $70,000
18. 2025-01-24
    price $75,000
19. 2025-01-24
    listed $75,000 Active
20. 2025-01-24
    historical
21. 2024-09-22
    historical
22. 2024-07-16
    price $95,000
23. 2024-06-29
    status Active
24. 2024-06-29
    historical Active Under Contract
25. 2024-06-14
    price $105,000
26. 2024-03-22
    listed $115,000 Active
27. 2024-01-31
    historical
28. 2024-01-11
    listed $99,999 Active
29. 2017-10-18
    historical
30. 2017-10-18
    historical Withdrawn
31. 2017-04-29
    listed Active
32. 2017-04-28
    listed $69,900
33. 2011-01-31
    historical Withdrawn
34. 2011-01-31
    historical
35. 2010-06-04
    price
36. 2010-05-06
    price
37. 2010-04-19
    price
38. 2010-03-17
    listed Active
39. 2010-03-16
    listed $127,500
40. 2006-06-29
    soldstatus $123,500
41. 2006-06-29
    soldstatus $123,500
42. 2006-06-16
    soldstatus $123,500
43. 2006-04-26
    historical
44. 2006-04-26
    listed $123,500
45. 1995-09-28
    soldstatus $20,000
46. 1994-02-28
    soldstatus $27,000

ⓘ 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: $1,607 · $134/mo
• Projected year-2 tax: $1,607 · $134/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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,412
• − Mortgage interest: −$4,761
• − Property taxes: −$1,607
• − Insurance: −$425
• − Repairs & maintenance: −$1,713
• − Management: −$1,713
• − Depreciation: −$2,473
• Taxable income: $8,720
• Est. tax owed @ 24.0%: −$2,093
• After-tax cash flow: $7,442/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): 32,977
• Household income: $91,842
• Rent vs Own: 49.3% rent · 50.7% own
• Severe rent burden: 1463.0

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 0.63)
• Race & ethnicity: White 55% Black 23% Hispanic / Latino 13% Two or more races 6% Asian 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1%
• Common ancestry: Romanian 5% Lithuanian 2% Italian 2%
• Foreign-born: 10% · Canada, China
• Languages at home: 85% English-only · Spanish 9% Other Indo-European 1% Other Asian/Pacific 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: ▼ -311.43%
• Current HPI: 284.338
• Rent YoY: ▼ -1.00%
• 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

+214.8% since first listed

33 events — show timeline

• 2026-03-19 Listed $85,000 BRIGHT MLS
• 2026-03-19 Coming Soon $85,000 BRIGHT MLS
• 2025-03-06 Listing Removed — BRIGHT MLS
• 2025-02-14 Price Changed $70,000 BRIGHT MLS
• 2025-01-24 Price Changed $75,000 BRIGHT MLS
• 2025-01-24 Listed $75,000 BRIGHT MLS
• 2025-01-24 Coming Soon — BRIGHT MLS
• 2024-09-22 Listing Removed — BRIGHT MLS
• 2024-07-16 Price Changed $95,000 BRIGHT MLS
• 2024-06-29 Relisted — BRIGHT MLS
• 2024-06-29 Contingent — BRIGHT MLS
• 2024-06-14 Price Changed $105,000 BRIGHT MLS
• 2024-03-22 Listed $115,000 BRIGHT MLS
• 2024-01-31 Listing Removed — BRIGHT MLS
• 2024-01-11 Listed $99,999 BRIGHT MLS
• 2017-10-18 Delisted — MRIS
• 2017-10-18 Listing Removed — BRIGHT MLS
• 2017-04-29 Listed — MRIS
• 2017-04-28 Listed $69,900 BRIGHT MLS
• 2011-01-31 Delisted — MRIS
• 2011-01-31 Listing Removed — BRIGHT MLS
• 2010-06-04 Price Changed — MRIS
• 2010-05-06 Price Changed — MRIS
• 2010-04-19 Price Changed — MRIS
• 2010-03-17 Listed — MRIS
• 2010-03-16 Listed $127,500 BRIGHT MLS
• 2006-06-29 Sold (Public Records) $123,500 Public Records
• 2006-06-29 Sold (Public Records) $123,500 Public Records
• 2006-06-16 Sold (MLS) $123,500 MRIS
• 2006-04-26 Listed $123,500 MRIS
• 2006-04-26 Delisted — MRIS
• 1995-09-28 Sold (Public Records) $20,000 Public Records
• 1994-02-28 Sold (Public Records) $27,000 Public Records

Property tax history

-0.9%/yr

Latest (2025): $1,607 · +10.7% YoY. Source: county tax records.