144 Palormo Ave · Baltimore, MD 21229

$69,900

3 bd · 1.5 ba · 996 sqft · Townhouse public records · 13 Days on market

Built 1920 Est $136k · 49% under

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

Listing remarks MLS

BUY NOW POST ACTION. 2 Story Townhome located in the Saint Josephs area. In close proximity to Saint Agnes Hospital. Property is vacant. 998 sqft. 10% Buyer's Premium or $1,000 whichever is greater. Deposit $2,000. For full Terms and Conditions contact auctioneer s office.

Key facts

• Built 1920
• Listed 13 days

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Interior townhouse/rowhouse; Fee simple ownership; Year built (estimated)
• Construction: Brick construction; Stone foundation; Above-grade and below-grade structures
• Exterior features: No tidal water

Interior

• Bedrooms: Three bedrooms on the first upper level
• Bathrooms: One full bathroom (all upper levels); One half bathroom on the main level
• Heating & cooling: Natural gas heating; Electric cooling
• Interior features: Estimated living area; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $70k.

Deal economics

• At list price, monthly cash flow is $868 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Cap rate 21.2% 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 (+5.4%/yr); 252 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• This rent runs 33% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $483 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 + 5.4% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 7y 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 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 24% 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 $69,900

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: 2.35% ✓
• Cap rate: 21.19%
• Cash-on-cash: 53.21%
• DSCR: 3.37
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $136,452
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23 N Morley St	0.28mi	3/1.0	1,041 (+4%)	6mo	$85,000	$82	72
119 Hilton St	0.31mi	2/2.0 (-1)	1,040 (+4%)	0mo	$211,000	$203	71
107 N Monastery Ave	0.33mi	2/1.5 (-1)	1,080 (+8%)	2mo	$65,000	$60	64
3386 Dulany St	0.61mi	3/2.0	1,014 (+2%)	6mo	$169,000	$167	62
1 N Culver St	0.20mi	3/2.0	1,140 (+14%)	4mo	$225,000	$197	61
133 N Monastery Ave	0.35mi	2/2.0 (-1)	1,080 (+8%)	3mo	$142,000	$131	60
3306 W Franklin St	0.66mi	3/2.0	960 (-4%)	1mo	$51,500	$54	60
3302 W Franklin St	0.67mi	3/1.0	960 (-4%)	2mo	$50,000	$52	60
209 Mount Holly St	0.51mi	3/2.0	1,080 (+8%)	2mo	$228,000	$211	59
222 N Hilton St	0.42mi	3/1.0	1,120 (+12%)	1mo	$89,775	$80	57
3396 Dulany St	0.61mi	2/1.5 (-1)	1,080 (+8%)	0mo	$177,523	$164	52
427 Gwynn Ave	0.63mi	3/1.5	1,116 (+12%)	5mo	$152,650	$137	46

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 · 5.38% rent growth · sell at horizon

5-year hold

• IRR: 53.8%
• Equity multiple: 3.45×
• Total profit: $47,955
• Equity at exit: $10,422

10-year hold

• IRR: 59.9%
• Equity multiple: 7.65×
• Total profit: $130,206
• Equity at exit: $6,044

Cash invested: $19,572 (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 21229

• Rents YoY: 5.4%
• Active inventory: 252
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,639 high
• Mortgage (P&I): −$367
• Tax from tax record: −$32 /mo · $378/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $868

Break-even live

Break-even rent $541

Max offer price $69,900

Occupancy floor 42%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3310 Elbert St Baltimore, MD	2.0	1.0	920	$1,550	$1.68	24d	1	0.30mi
4018 Massachusetts Ave Baltimore, MD	3.0	1.0	1050	$1,400	$1.33	24d	1	0.44mi
304 Collins Ave Unit 2 Baltimore, MD	3.0	1.0	1016	$2,100	$2.07	44d	1	0.49mi
3607 W Lexington St Baltimore, MD	3.0	2.0	1050	$1,895	$1.80	4d	1	0.51mi
3392 Saint Benedict St Baltimore, MD	2.0	1.0	864	$1,450	$1.68	24d	1	0.63mi
2 S Woodington Rd Baltimore, MD	2.0	1.0	856	$1,160	$1.36	15d	1	0.67mi
2 N Woodington Rd Baltimore, MD	1.0–2.0	1.0	738	$1,335	$1.81	3d	5	0.68mi
3706 W Franklin St Unit 1 Baltimore, MD	2.0	1.0	735	$1,100	$1.50	4d	1	0.71mi
4301 Parkton St Baltimore, MD	1.0–3.0	1.0	730	$1,550	$2.12	44d	1	0.74mi
709 Denison St Baltimore, MD	2.0	2.0	840	$1,630	$1.94	24d	1	0.88mi
2657 Lehman St Unit 1 Baltimore, MD	2.0	1.0	1056	$1,000	$0.95	44d	1	0.91mi
2815 W Mulberry St Baltimore, MD	4.0	2.0	1040	$2,050	$1.97	44d	1	0.92mi
332 S Franklintown Rd Unit 2 Baltimore, MD	2.0	1.0	776	$795	$1.02	24d	1	0.93mi
4431 Eldone Rd Baltimore, MD	3.0	2.0	896	$2,000	$2.23	24d	1	0.97mi
2540 Frederick Ave Baltimore, MD	3.0	1.0	1075	$1,400	$1.30	24d	1	0.97mi
787 N Grantley St Baltimore, MD	3.0	1.0	1116	$1,575	$1.41	24d	1	0.98mi
2516 Hollins St Baltimore, MD	3.0	2.0	1100	$1,700	$1.55	44d	1	1.00mi
751 Yale Ave Baltimore, MD	3.0	1.5	1024	$1,750	$1.71	44d	1	1.01mi
4601 Pen Lucy Rd Unit 4714-B Baltimore, MD	2.0	1.0	730	$1,205	$1.65	15d	1	1.05mi
4601 Pen Lucy Rd Unit 103-H Baltimore, MD	2.0	1.0	798	$1,315	$1.65	24d	1	1.05mi
4601 Pen Lucy Rd Unit 4718-F Baltimore, MD	2.0	1.0	879	$1,225	$1.39	2d	1	1.05mi
4601 Pen Lucy Rd Unit 4615-G Baltimore, MD	2.0	1.0	798	$1,200	$1.50	22d	1	1.05mi
402 Colleen Rd Baltimore, MD	1.0–2.0	1.0	910	$1,450	$1.59	2d	11	1.10mi
4520 Scarlet Oak Ln Baltimore, MD	2.0	1.0	1025	$1,500	$1.46	44d	1	1.10mi
627 Lucia Ave Baltimore, MD	3.0	1.0	892	$1,750	$1.96	24d	1	1.13mi
219 Atholgate Ln Baltimore, MD	1.0–3.0	1.0–1.5	814	$1,500	$1.84	3d	2	1.18mi
613 S Beechfield Ave Baltimore, MD	3.0	1.5	1080	$1,950	$1.81	44d	1	1.18mi
62 N Gorman Ave Baltimore, MD	3.0	2.0	1100	$2,500	$2.27	18d	1	1.21mi
1042 Ellicott Dr Baltimore, MD	2.0	1.0	900	$1,450	$1.61	44d	1	1.25mi
501 Hazlett Ave Baltimore, MD	2.0–3.0	1.5–2.0	1044	$1,879	$1.80	2d	8	1.28mi
4103 Mountwood Rd Baltimore, MD	3.0	2.0	1030	$1,700	$1.65	44d	1	1.31mi
1216 N Augusta Ave Baltimore, MD	3.0	1.0	1024	$1,550	$1.51	24d	1	1.32mi
1307 Wildwood Pkwy Baltimore, MD	2.0	1.0	725	$1,295	$1.79	44d	1	1.32mi
4103 Stokes Dr Apt 1 Baltimore, MD	2.0	1.0	725	$1,095	$1.51	44d	1	1.41mi
532 Coventry Rd Baltimore, MD	2.0	1.0	661	$1,300	$1.97	22d	1	1.43mi

Listing history 9 events

1. 2026-06-18
   days on market $69,900 Active 13 DOM
2. 2026-06-17
   days on market $69,900 Active 12 DOM
3. 2026-06-16
   days on market $69,900 Active 11 DOM
4. 2026-06-15
   days on market $69,900 Active 10 DOM
5. 2026-06-13
   days on market $69,900 Active 8 DOM
6. 2026-06-09
   days on market $69,900 Active 4 DOM
7. 2026-06-08
   days on market $69,900 Active 3 DOM
8. 2026-06-07
   remarks 268-char remark
9. 2026-06-07
   listed $69,900 Active 2 DOM

ⓘ 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: $378 · $32/mo
• Projected year-2 tax: $570 · $48/mo
• Expected delta: +$192/yr (+$16/mo · 50.7%)

ⓘ 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 5/10 Major 24% 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: $19,671
• − Mortgage interest: −$3,915
• − Property taxes: −$378
• − Insurance: −$350
• − Repairs & maintenance: −$1,574
• − Management: −$1,574
• − Depreciation: −$2,033
• Taxable income: $9,847
• Est. tax owed @ 24.0%: −$2,363
• After-tax cash flow: $8,051/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): 46,679
• Household income: $60,047
• Rent vs Own: 43.1% rent · 56.9% own
• Severe rent burden: 2776.0

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 (73%)
• Race & ethnicity: Black 73% White 15% Hispanic / Latino 6% Two or more races 4% Asian 3%
• Common ancestry: Lithuanian 1% Romanian 1% Serbian 1%
• Foreign-born: 5% · Canada, Philippines
• Languages at home: 91% English-only · Spanish 4% Other Indo-European 2% 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: ▼ -259.07%
• Current HPI: 226.896
• Rent YoY: ▲ 5.38%
• 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

+1298.0% since first listed

22 events — show timeline

• 2026-06-05 Listed $69,900 BRIGHT MLS
• 2024-01-29 Sold (Public Records) $300,000 Public Records
• 2023-06-11 Listing Removed — BRIGHT MLS
• 2023-06-02 Relisted — BRIGHT MLS
• 2023-02-15 Listing Removed — BRIGHT MLS
• 2023-02-03 Price Changed $115,000 BRIGHT MLS
• 2023-01-19 Price Changed $120,000 BRIGHT MLS
• 2022-11-18 Price Changed $125,000 BRIGHT MLS
• 2022-10-10 Price Changed $130,000 BRIGHT MLS
• 2022-09-23 Price Changed $140,000 BRIGHT MLS
• 2022-07-28 Relisted — BRIGHT MLS
• 2022-07-14 Relisted — BRIGHT MLS
• 2022-07-11 Listing Removed — BRIGHT MLS
• 2022-04-16 Contingent — BRIGHT MLS
• 2022-03-17 Price Changed $145,000 BRIGHT MLS
• 2022-02-28 Listed $150,000 BRIGHT MLS
• 2020-01-20 Sold (MLS) $10,000 BRIGHT MLS
• 2019-12-18 Pending — BRIGHT MLS
• 2019-12-10 Price Changed $9,000 BRIGHT MLS
• 2019-10-09 Price Changed $10,000 BRIGHT MLS
• 2019-04-23 Price Changed $20,000 BRIGHT MLS
• 2019-04-17 Listed $5,000 BRIGHT MLS

Property tax history

-8.6%/yr

Latest (2025): $378 · +3.9% YoY. Source: county tax records.