741 N Fulton Ave · Baltimore, MD 21217

$50,000

3 bd · 1.0 ba · 2,400 sqft · Townhouse public records · 42 Days on market

Built 1920 1,306 sqft lot $21/sqft · 67% below 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

ONLINE AUCTION: Bidding begins 05/06/2022 @ 10:00 AM. Bidding ends 05/10/2022 @ 11:00 AM. List Price is Suggested Opening Bid. 3 Story Townhouse located in the Harlem Park area. The Property is set up as 3 different units, each separately metered for gas and electric. MINUTES to Grace Medical Center, Harlem Square Park, Mt. Clare Junction Shopping Center, & West Baltimore MARC Station. Easy Access to Major Traffic Artery Franklin-Mulberry Expy. Property is Partially Rented. Deposit: $10,000. For full Terms and Conditions contact the auctioneer's office.

Key facts

• Built 1920
• Listed 42 days

Property features AI

Finance

• Other: Below-grade unfinished area of 720 (per assessor); Above-grade finished area 2,400 (per assessor)
• Financial info: Annual ground rent payment (semi-annually)

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Interior townhouse / rowhouse; Ground rent ownership interest
• Construction: Brick construction; Other foundation; Above-grade and below-grade structures; Built year per assessor
• Exterior features: Lot dimensions approximately 16 x 86; Ground rent exists (semi-annual payment)

Interior

• Bedrooms: One bedroom on the main level; One bedroom on the 1st upper level; One bedroom on the 2nd upper level
• Bathrooms: Three full bathrooms (one on main level, one on 1st upper level, one on 2nd upper level)
• Heating & cooling: Forced air heating; Electric cooling (other type)
• Interior features: Unfinished basement; Living area per assessor

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $50k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 37.1% 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 (+6.6%/yr); 331 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); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• At $2,139/mo this rent would consume 67% of the median local household income ($38k/yr) (locally 2921% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k 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 + 6.6% rent growth), your $14k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $10k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; 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 $48,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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?
8. 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.
9. 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.
10. 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: 4.28% ✓
• Cap rate: 37.09%
• Cash-on-cash: 110.01%
• DSCR: 5.89
• GRM: 1.9

CMA / ARV

• ARV (median comp): $151,091
• List price: $50,000
• Delta: -66.91%
• 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
1810 Edmondson Ave	0.16mi	4/2.0 (+1)	2,290 (-5%)	8mo	$55,000	$24	69
610 N Fulton Ave	0.13mi	4/3.0 (+1)	2,688 (+12%)	8mo	$75,000	$28	54
822 Harlem Ave	0.75mi	3/3.5	2,484 (+4%)	1mo	$308,000	$124	48
840 Edmondson Ave	0.71mi	3/3.0	2,280 (-5%)	3mo	$368,780	$162	48
8 N Pulaski St	0.67mi	3/3.0	2,230 (-7%)	1mo	$114,000	$51	48
10 N Pulaski St	0.67mi	4/1.5 (+1)	2,232 (-7%)	3mo	$92,500	$41	48
838 Edmondson Ave	0.71mi	3/3.0	2,280 (-5%)	4mo	$365,180	$160	47
826 Edmondson Ave	0.73mi	3/3.0	2,280 (-5%)	4mo	$370,000	$162	46
834 Edmondson Ave	0.72mi	3/3.0	2,280 (-5%)	5mo	$343,930	$151	46
2324 Edmondson Ave	0.49mi	3/2.5	2,748 (+14%)	2mo	$208,000	$76	45
329 N Gilmor St	0.35mi	4/2.5 (+1)	2,066 (-14%)	6mo	$315,000	$152	44
828 Edmondson Ave	0.73mi	3/3.0	2,760 (+15%)	8mo	$373,590	$135	27

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 · 6.63% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.84×
• Total profit: $81,806
• Equity at exit: $7,455

10-year hold

• IRR: —
• Equity multiple: 16.18×
• Total profit: $212,583
• Equity at exit: $4,323

Cash invested: $14,000 (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 21217

• Rents YoY: 6.6%
• Active inventory: 331
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $2,139 high
• Mortgage (P&I): −$262
• Tax from tax record: −$124 /mo · $1,483/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$449
• Net cashflow: $1,283

Break-even live

Break-even rent $515

Max offer price $50,000

Occupancy floor 35%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1509 Edmondson Ave #1 Baltimore, MD	3.0	2.0	1600	$2,275	$1.42	24d	1	0.21mi
1613 Riggs Ave Baltimore, MD	3.0	2.5	1800	$1,800	$1.00	24d	1	0.28mi
1814 Penrose Ave Baltimore, MD	3.0	1.0	1624	$1,700	$1.05	18d	1	0.39mi
1518 1/2 W Lexington St Baltimore, MD	2.0	2.0	1650	$1,200	$0.73	4d	1	0.46mi
1032 W Franklin St Baltimore, MD	4.0	4.5	1913	$2,650	$1.39	24d	1	0.56mi
1012 W Lanvale St Baltimore, MD	2.0	2.0	2008	$1,925	$0.96	24d	1	0.57mi
1516 N Mount St Baltimore, MD	3.0	1.5	1830	$1,750	$0.96	15d	1	0.62mi
1315 Presstman St Baltimore, MD	4.0	2.0	1700	$2,000	$1.18	44d	1	0.64mi
1725 Hollins St Unit 4 Baltimore, MD	2.0	1.0	2796	$1,195	$0.43	44d	1	0.68mi
1725 Hollins St #3 Baltimore, MD	2.0	1.0	2796	$1,195	$0.43	44d	1	0.68mi
39 N Bentalou St Baltimore, MD	3.0	2.5	1844	$1,700	$0.92	3d	1	0.69mi
1616 N Fulton Ave Baltimore, MD	3.0	2.0	1620	$1,795	$1.11	4d	1	0.70mi
1328 W Lombard St Baltimore, MD	3.0	3.5	2312	$3,600	$1.56	12d	1	0.78mi
549 Mosher St Baltimore, MD	3.0	1.0	2200	$1,350	$0.61	44d	1	0.79mi
1138 W Lombard St Baltimore, MD	3.0	3.5	2400	$1,795	$0.75	24d	1	0.85mi
1725 Druid Hill Ave Baltimore, MD	4.0	3.0	2195	$2,100	$0.96	24d	1	0.88mi
1927 Druid Hill Ave #2 Baltimore, MD	3.0	2.0	3312	$2,350	$0.71	44d	1	0.90mi
1628 McCulloh St Unit 2 Baltimore, MD	4.0	2.5	2000	$2,000	$1.00	4d	1	0.92mi
1614 McCulloh St #1 Baltimore, MD	3.0	3.0	2885	$2,400	$0.83	44d	1	0.92mi
2020 McCulloh St Unit 1 Baltimore, MD	2.0	2.0	2440	$1,650	$0.68	44d	1	0.94mi
2020 McCulloh St Unit 2 Baltimore, MD	2.0	2.0	2440	$1,950	$0.80	44d	1	0.94mi
1929 McCulloh St Baltimore, MD	3.0	2.5	3293	$2,595	$0.79	44d	1	0.95mi
922 W Lombard St Baltimore, MD	4.0	2.0	2364	$2,300	$0.97	24d	1	0.95mi
110 S Poppleton St Baltimore, MD	3.0	1.5	1800	$1,900	$1.06	44d	1	1.00mi
2405 W North Ave Baltimore, MD	4.0	3.0	1826	$1,900	$1.04	4d	1	1.04mi
1702 Eutaw Pl Baltimore, MD	2.0	2.0	2000	$1,550	$0.78	18d	1	1.04mi
804 Hollins St Unit 1 Baltimore, MD	3.0	2.0	1800	$2,700	$1.50	4d	1	1.06mi
853 W Lombard St Baltimore, MD	3.0	2.5	2824	$2,650	$0.94	24d	1	1.08mi
2922 Edmondson Ave Baltimore, MD	3.0	2.0	1620	$1,900	$1.17	44d	1	1.12mi
476 S Bentalou St Baltimore, MD	2.0	1.5	1630	$1,300	$0.80	44d	1	1.14mi
2128 N Pulaski St Baltimore, MD	4.0	3.0	2166	$2,200	$1.02	44d	1	1.14mi
2534 McCulloh St Unit 1 Baltimore, MD	4.0	2.0	2861	$3,300	$1.15	24d	1	1.16mi
803 McHenry St Baltimore, MD	4.0	2.5	1856	$2,599	$1.40	3d	1	1.20mi
2511 Madison Ave Unit 1 Baltimore, MD	4.0	2.0	2700	$2,700	$1.00	44d	1	1.22mi
819 Ramsay St Baltimore, MD	4.0	3.5	1856	$3,000	$1.62	12d	1	1.23mi
1227 Washington Blvd Baltimore, MD	4.0	3.5	2664	$2,950	$1.11	4d	1	1.23mi
324 Scott St Baltimore, MD	4.0	2.5	1656	$3,000	$1.81	44d	1	1.24mi
1427 Bolton St Unit 2 Baltimore, MD	2.0	2.0	1802	$3,600	$2.00	4d	1	1.24mi
217 S Fremont Ave Baltimore, MD	3.0	3.5	3338	$3,000	$0.90	44d	1	1.25mi
815 Lennox St Baltimore, MD	3.0	3.5	1600	$2,790	$1.74	24d	1	1.27mi

Listing history 21 events

1. 2026-06-18
   days on market $50,000 Active 42 DOM
2. 2026-06-17
   days on market $50,000 Active 41 DOM
3. 2026-06-16
   remarks 571-char remark
4. 2026-06-16
   pricedays on market $50,000 Active 40 DOM
5. 2026-06-15
   days on market $60,000 Active 39 DOM
6. 2026-06-13
   days on market $60,000 Active 37 DOM
7. 2026-06-09
   days on market $60,000 Active 33 DOM
8. 2026-06-08
   days on market $60,000 Active 32 DOM
9. 2026-06-07
   days on market $60,000 Active 31 DOM
10. 2026-06-04
    days on market $60,000 Active 28 DOM
11. 2026-06-03
    days on market $60,000 Active 27 DOM
12. 2026-06-02
    days on market $60,000 Active 26 DOM
13. 2026-06-01
    days on market $60,000 Active 25 DOM
14. 2026-05-31
    days on market $60,000 Active 24 DOM
15. 2026-05-07
    listed $60,000 Active 572-char remark
16. 2022-11-07
    soldstatus $93,500
17. 2022-07-19
    soldstatus $93,500 Closed 565-char remark

    Show marketing remark (565 chars)

    ONLINE AUCTION: Bidding begins 05/06/2022 @ 10:00 AM. Bidding ends 05/10/2022 @ 11:00 AM. List Price is Suggested Opening Bid. 3 Story Townhouse located in the Harlem Park area. The Property is set up as 3 different units, each separately metered for gas and electric. MINUTES to Grace Medical Center, Harlem Square Park, Mt. Clare Junction Shopping Center, & West Baltimore MARC Station. Easy Access to Major Traffic Artery Franklin-Mulberry Expy. Property is Partially Rented. Deposit: $10,000. For full Terms and Conditions contact the auctioneer's office.

18. 2022-06-16
    status Pending 565-char remark

    Show marketing remark (565 chars)

    ONLINE AUCTION: Bidding begins 05/06/2022 @ 10:00 AM. Bidding ends 05/10/2022 @ 11:00 AM. List Price is Suggested Opening Bid. 3 Story Townhouse located in the Harlem Park area. The Property is set up as 3 different units, each separately metered for gas and electric. MINUTES to Grace Medical Center, Harlem Square Park, Mt. Clare Junction Shopping Center, & West Baltimore MARC Station. Easy Access to Major Traffic Artery Franklin-Mulberry Expy. Property is Partially Rented. Deposit: $10,000. For full Terms and Conditions contact the auctioneer's office.

19. 2022-04-18
    listed $45,000 Active 565-char remark

    Show marketing remark (565 chars)

    ONLINE AUCTION: Bidding begins 05/06/2022 @ 10:00 AM. Bidding ends 05/10/2022 @ 11:00 AM. List Price is Suggested Opening Bid. 3 Story Townhouse located in the Harlem Park area. The Property is set up as 3 different units, each separately metered for gas and electric. MINUTES to Grace Medical Center, Harlem Square Park, Mt. Clare Junction Shopping Center, & West Baltimore MARC Station. Easy Access to Major Traffic Artery Franklin-Mulberry Expy. Property is Partially Rented. Deposit: $10,000. For full Terms and Conditions contact the auctioneer's office.

20. 2017-05-17
    soldstatus $52,500
21. 1988-05-23
    soldstatus $39,000

ⓘ 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: $1,483 · $124/mo
• Projected year-2 tax: $1,483 · $124/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 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: $25,671
• − Mortgage interest: −$2,801
• − Property taxes: −$1,483
• − Insurance: −$250
• − Repairs & maintenance: −$2,054
• − Management: −$2,054
• − Depreciation: −$1,455
• Taxable income: $15,576
• Est. tax owed @ 24.0%: −$3,738
• After-tax cash flow: $11,663/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): 30,792
• Household income: $38,409
• Rent vs Own: 70.0% rent · 30.0% own
• Severe rent burden: 2921.0

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 (81%)
• Race & ethnicity: Black 81% White 12% Two or more races 4% Hispanic / Latino 2% Asian 2%
• Common ancestry: Romanian 1% Hispanic 1% Italian 1%
• Foreign-born: 5% · Canada, China, South Korea
• Languages at home: 94% English-only · Spanish 2% French/Haitian/Cajun 1% Chinese 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: ▼ -187.20%
• Current HPI: 104.2102
• Rent YoY: ▲ 6.63%
• 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

+28.2% since first listed

8 events — show timeline

• 2026-06-15 Price Changed $50,000 BRIGHT MLS
• 2026-05-07 Listed $60,000 BRIGHT MLS
• 2022-11-07 Sold (Public Records) $93,500 Public Records
• 2022-07-19 Sold (MLS) $93,500 BRIGHT MLS
• 2022-06-16 Pending — BRIGHT MLS
• 2022-04-18 Listed $45,000 BRIGHT MLS
• 2017-05-17 Sold (Public Records) $52,500 Public Records
• 1988-05-23 Sold (Public Records) $39,000 Public Records

Property tax history

+11.2%/yr

Latest (2025): $1,483 · +53.7% YoY. Source: county tax records.