1205 Argyle Ave · Baltimore, MD 21217

$120,000

3 bd · 3.5 ba · 2,760 sqft · Townhouse public records · 89 Days on market

Built 1918 2,760 sqft lot $43/sqft · 61% below area

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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 +7.5/15.0
• 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

This is a court appointed trustee sale in lieu of partition. We have no inside access to the house. This sale must go sight unseen.

Key facts

• Built 1918
• Listed 89 days

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath townhouse listed at $120k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $113k (6.0% below list) — sets the bar for market timing.
• Cap rate 16.3% 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); 48% 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 $2,259/mo this rent would consume 71% 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 $830 of loan paydown is wiped out by about $4k 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 $34k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 21y ago; this cycle's ask has dropped $140k (54%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $120k implies a 376% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1918 — 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 $112,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 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 1918 — 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: 1.88% ✓
• Cap rate: 16.35%
• Cash-on-cash: 35.91%
• DSCR: 2.60
• GRM: 4.4

CMA / ARV

• ARV (median comp): $304,929
• List price: $120,000
• Delta: -60.65%
• 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
828 Edmondson Ave	0.20mi	3/3.0	2,760 (0%)	8mo	$373,590	$135	82
822 Harlem Ave	0.14mi	3/3.5	2,484 (-10%)	1mo	$308,000	$124	76
1064 W Fayette St	0.68mi	4/3.5 (+1)	2,900 (+5%)	3mo	$425,000	$147	52
1930 Mcculloh St	0.63mi	4/4.5 (+1)	2,760 (0%)	12mo	$387,900	$141	52
862 Tyson St	0.60mi	3/2.5	2,493 (-10%)	4mo	$633,500	$254	49
126 W Lafayette Ave	0.73mi	4/3.5 (+1)	2,797 (+1%)	12mo	$595,000	$213	49
1713 Linden Ave	0.64mi	3/3.5	2,966 (+8%)	12mo	$506,500	$171	48
130 W Lanvale St	0.72mi	4/2.5 (+1)	2,692 (-2%)	8mo	$475,000	$176	47
1803 Madison Ave	0.57mi	3/3.0	3,148 (+14%)	3mo	$460,000	$146	45
302 W Lafayette Ave	0.50mi	4/3.5 (+1)	2,496 (-10%)	13mo	$552,000	$221	45
1724 Linden Ave	0.63mi	4/2.5 (+1)	2,868 (+4%)	12mo	$715,000	$249	45
1203 Bolton St	0.57mi	4/3.5 (+1)	2,437 (-12%)	7mo	$500,000	$205	44

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: 35.6%
• Equity multiple: 2.58×
• Total profit: $53,144
• Equity at exit: $17,892

10-year hold

• IRR: 44.1%
• Equity multiple: 5.96×
• Total profit: $166,561
• Equity at exit: $10,375

Cash invested: $33,600 (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: 4.4×

Monthly cashflow live

• Estimated rent: $2,259 high
• Mortgage (P&I): −$629
• Tax from tax record: −$100 /mo · $1,201/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$474
• Net cashflow: $1,005

Break-even live

Break-even rent $987

Max offer price $120,000

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1012 W Lanvale St Baltimore, MD	2.0	2.0	2008	$1,925	$0.96	23d	1	0.20mi
549 Mosher St Baltimore, MD	3.0	1.0	2200	$1,350	$0.61	43d	1	0.23mi
1614 McCulloh St #1 Baltimore, MD	3.0	3.0	2885	$2,400	$0.83	43d	1	0.42mi
1628 McCulloh St Unit 2 Baltimore, MD	4.0	2.5	2000	$2,000	$1.00	4d	1	0.44mi
1725 Druid Hill Ave Baltimore, MD	4.0	3.0	2195	$2,100	$0.96	23d	1	0.47mi
1702 Eutaw Pl Baltimore, MD	2.0	2.0	2000	$1,550	$0.78	17d	1	0.55mi
1927 Druid Hill Ave #2 Baltimore, MD	3.0	2.0	3312	$2,350	$0.71	43d	1	0.61mi
1929 McCulloh St Baltimore, MD	3.0	2.5	3293	$2,595	$0.79	43d	1	0.64mi
1020 Park Ave Baltimore, MD	2.0	2.0–2.5	2004	$3,712	$1.85	3d	11	0.67mi
2020 McCulloh St Unit 2 Baltimore, MD	2.0	2.0	2440	$1,950	$0.80	43d	1	0.68mi
2020 McCulloh St Unit 1 Baltimore, MD	2.0	2.0	2440	$1,650	$0.68	43d	1	0.68mi
147 W Lafayette Ave Baltimore, MD	4.0	2.5	2400	$3,250	$1.35	43d	1	0.69mi
922 W Lombard St Baltimore, MD	4.0	2.0	2364	$2,300	$0.97	23d	1	0.83mi
853 W Lombard St Baltimore, MD	3.0	2.5	2824	$2,650	$0.94	23d	1	0.84mi
736 Watts St Baltimore, MD	3.0	3.5	2000	$3,250	$1.62	43d	1	0.86mi
7 W Mulberry St Unit 05 Baltimore, MD	3.0	2.0	1940	$1,750	$0.90	23d	1	0.87mi
8 N Howard St Baltimore, MD	2.0	1.0–2.0	1433	$3,600	$2.51	1d	36	0.87mi
10 E Chase St Baltimore, MD	4.0	2.5	2626	$3,499	$1.33	43d	1	0.89mi
1138 W Lombard St Baltimore, MD	3.0	3.5	2400	$1,795	$0.75	23d	1	0.89mi
1328 W Lombard St Baltimore, MD	3.0	3.5	2312	$3,600	$1.56	12d	1	0.95mi
32 E Preston St Unit B Baltimore, MD	3.0	3.0	2500	$2,890	$1.16	43d	1	0.95mi
217 S Fremont Ave Baltimore, MD	3.0	3.5	3338	$3,000	$0.90	43d	1	0.95mi
914 Whitelock St Baltimore, MD	4.0	3.5	2880	$2,250	$0.78	4d	1	1.08mi
19 E Fayette St Apt 502 Baltimore, MD	2.0	1.5	2063	$1,895	$0.92	3d	1	1.09mi
19 E Fayette St Baltimore, MD	1.0–2.0	1.0–1.5	1342	$1,825	$1.36	12d	5	1.09mi
19 E Fayette St Apt 501 Baltimore, MD	2.0	1.5	2063	$1,795	$0.87	3d	1	1.09mi
1725 Hollins St Unit 4 Baltimore, MD	2.0	1.0	2796	$1,195	$0.43	44d	1	1.10mi
1725 Hollins St #3 Baltimore, MD	2.0	1.0	2796	$1,195	$0.43	43d	1	1.10mi
2534 McCulloh St Unit 1 Baltimore, MD	4.0	2.0	2861	$3,300	$1.15	23d	1	1.11mi
2511 Madison Ave Unit 1 Baltimore, MD	4.0	2.0	2700	$2,700	$1.00	43d	1	1.11mi
2302 Mount Royal Ter Baltimore, MD	4.0	3.5	2351	$3,000	$1.28	23d	1	1.15mi
1824 Saint Paul St Unit 3 Baltimore, MD	2.0	1.0	2397	$1,275	$0.53	43d	1	1.16mi
805 Brooks Ln #2 Baltimore, MD	2.0	1.0	2120	$1,500	$0.71	3d	1	1.17mi
2535 Brookfield Ave Baltimore, MD	3.0	1.0	2736	$1,500	$0.55	43d	1	1.20mi
1643 Guilford Ave Baltimore, MD	3.0	3.5	2273	$3,200	$1.41	43d	1	1.22mi
1227 Washington Blvd Baltimore, MD	4.0	3.5	2664	$2,950	$1.11	4d	1	1.24mi
782 W Hamburg St Baltimore, MD	3.0	3.5	3734	$3,500	$0.94	23d	1	1.25mi
912 S Paca St Baltimore, MD	3.0	2.0	2000	$2,250	$1.12	43d	1	1.26mi
411 E Lafayette Ave Baltimore, MD	3.0	2.5	2450	$2,900	$1.18	23d	1	1.33mi
2227 Saint Paul St Unit 2 Baltimore, MD	2.0	2.0	3428	$1,200	$0.35	43d	1	1.40mi

Listing history 50 events

1. 2026-06-17
   status $120,000 Pending 89 DOM
2. 2026-06-16
   days on market $120,000 Active 89 DOM
3. 2026-06-15
   days on market $120,000 Active 88 DOM
4. 2026-06-13
   days on market $120,000 Active 86 DOM
5. 2026-06-09
   days on market $120,000 Active 82 DOM
6. 2026-06-08
   days on market $120,000 Active 81 DOM
7. 2026-06-07
   days on market $120,000 Active 80 DOM
8. 2026-06-04
   days on market $120,000 Active 77 DOM
9. 2026-06-03
   days on market $120,000 Active 76 DOM
10. 2026-06-02
    days on market $120,000 Active 75 DOM
11. 2026-06-01
    days on market $120,000 Active 74 DOM
12. 2026-05-31
    days on market $120,000 Active 73 DOM
13. 2026-05-18
    price $130,000 131-char remark

    Show marketing remark (131 chars)

    This is a court appointed trustee sale in lieu of partition. We have no inside access to the house. This sale must go sight unseen.

14. 2026-05-08
    price $140,000 131-char remark

    Show marketing remark (131 chars)

    This is a court appointed trustee sale in lieu of partition. We have no inside access to the house. This sale must go sight unseen.

15. 2026-04-28
    price $160,000 131-char remark

    Show marketing remark (131 chars)

    This is a court appointed trustee sale in lieu of partition. We have no inside access to the house. This sale must go sight unseen.

16. 2026-04-21
    price $170,000 131-char remark

    Show marketing remark (131 chars)

    This is a court appointed trustee sale in lieu of partition. We have no inside access to the house. This sale must go sight unseen.

17. 2026-04-13
    price $180,000 131-char remark

    Show marketing remark (131 chars)

    This is a court appointed trustee sale in lieu of partition. We have no inside access to the house. This sale must go sight unseen.

18. 2026-04-07
    price $200,000 131-char remark

    Show marketing remark (131 chars)

    This is a court appointed trustee sale in lieu of partition. We have no inside access to the house. This sale must go sight unseen.

19. 2026-03-19
    listed $260,000 Active 131-char remark

    Show marketing remark (131 chars)

    This is a court appointed trustee sale in lieu of partition. We have no inside access to the house. This sale must go sight unseen.

20. 2025-02-18
    status Pending
21. 2025-02-18
    historical
22. 2025-02-04
    price $184,000
23. 2025-01-31
    price $185,000
24. 2025-01-29
    price $186,000
25. 2025-01-16
    price $189,000
26. 2025-01-10
    price $194,000
27. 2024-12-18
    price $199,000
28. 2024-12-10
    price $209,000
29. 2024-11-30
    price $214,000
30. 2024-11-18
    price $219,000
31. 2024-11-05
    price $229,000
32. 2024-10-10
    price $234,000
33. 2024-09-23
    price $239,000
34. 2024-09-07
    price $245,000
35. 2024-08-25
    price $249,000
36. 2024-08-20
    price $254,000
37. 2024-08-13
    price $259,000
38. 2024-08-07
    price $264,000
39. 2024-07-22
    price $269,000
40. 2024-07-09
    price $274,000
41. 2024-07-01
    price $279,900
42. 2024-06-05
    listed $289,900 Active
43. 2023-12-31
    historical
44. 2022-02-16
    listed $349,000 Active
45. 2019-04-30
    soldstatus $25,200 Closed
46. 2019-03-25
    status Pending
47. 2019-03-18
    status Active
48. 2019-03-13
    status Pending
49. 2019-03-13
    status Active
50. 2019-03-01
    historical

ⓘ 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: $1,201 · $100/mo
• Projected year-2 tax: $1,254 · $105/mo
• Expected delta: +$54/yr (+$4/mo · 4.5%)

ⓘ 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: $27,110
• − Mortgage interest: −$6,722
• − Property taxes: −$1,201
• − Insurance: −$600
• − Repairs & maintenance: −$2,169
• − Management: −$2,169
• − Depreciation: −$3,491
• Taxable income: $10,759
• Est. tax owed @ 24.0%: −$2,582
• After-tax cash flow: $9,482/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

+35.4% since first listed

43 events — show timeline

• 2026-05-18 Price Changed $130,000 BRIGHT MLS
• 2026-05-08 Price Changed $140,000 BRIGHT MLS
• 2026-04-28 Price Changed $160,000 BRIGHT MLS
• 2026-04-21 Price Changed $170,000 BRIGHT MLS
• 2026-04-13 Price Changed $180,000 BRIGHT MLS
• 2026-04-07 Price Changed $200,000 BRIGHT MLS
• 2026-03-19 Listed $260,000 BRIGHT MLS
• 2025-02-18 Pending — BRIGHT MLS
• 2025-02-18 Listing Removed — BRIGHT MLS
• 2025-02-04 Price Changed $184,000 BRIGHT MLS
• 2025-01-31 Price Changed $185,000 BRIGHT MLS
• 2025-01-29 Price Changed $186,000 BRIGHT MLS
• 2025-01-16 Price Changed $189,000 BRIGHT MLS
• 2025-01-10 Price Changed $194,000 BRIGHT MLS
• 2024-12-18 Price Changed $199,000 BRIGHT MLS
• 2024-12-10 Price Changed $209,000 BRIGHT MLS
• 2024-11-30 Price Changed $214,000 BRIGHT MLS
• 2024-11-18 Price Changed $219,000 BRIGHT MLS
• 2024-11-05 Price Changed $229,000 BRIGHT MLS
• 2024-10-10 Price Changed $234,000 BRIGHT MLS
• 2024-09-23 Price Changed $239,000 BRIGHT MLS
• 2024-09-07 Price Changed $245,000 BRIGHT MLS
• 2024-08-25 Price Changed $249,000 BRIGHT MLS
• 2024-08-20 Price Changed $254,000 BRIGHT MLS
• 2024-08-13 Price Changed $259,000 BRIGHT MLS
• 2024-08-07 Price Changed $264,000 BRIGHT MLS
• 2024-07-22 Price Changed $269,000 BRIGHT MLS
• 2024-07-09 Price Changed $274,000 BRIGHT MLS
• 2024-07-01 Price Changed $279,900 BRIGHT MLS
• 2024-06-05 Listed $289,900 BRIGHT MLS
• 2023-12-31 Listing Removed — BRIGHT MLS
• 2022-02-16 Listed $349,000 BRIGHT MLS
• 2019-04-30 Sold (MLS) $25,200 BRIGHT MLS
• 2019-03-25 Pending — BRIGHT MLS
• 2019-03-18 Relisted — BRIGHT MLS
• 2019-03-13 Pending — BRIGHT MLS
• 2019-03-13 Relisted — BRIGHT MLS
• 2019-03-01 Listing Removed — BRIGHT MLS
• 2019-02-25 Listed $22,880 BRIGHT MLS
• 2006-08-18 Sold (MLS) $387,040 MRIS
• 2005-07-08 Delisted — MRIS
• 2005-07-07 Listed $373,540 MRIS
• 2004-08-31 Sold (Public Records) $96,000 Public Records

Property tax history

-6.6%/yr

Latest (2025): $1,201 · +5.2% YoY. Source: county tax records.