2301 Monroe St N · Baltimore, MD 21217

$95,000

3 bd · 2.5 ba · 2,052 sqft · Townhouse public records · 71 Days on market

Built 1927 1,512 sqft lot $46/sqft · 30% below area Est $136k · 30% under

---

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 +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

Investor Special – Prime Rehab Opportunity in Baltimore City! Welcome to 2301 N Monroe Street — a fully demoed end-unit rowhome ready for your vision. This two-story property with a basement offers a strong foundation for your next renovation project, with some repairs already completed to help you get started. The main level features front, side, and rear entrances, providing flexible access and layout options. Inside, you’ll find a spacious family room that flows into the dining/kitchen area, along with a convenient half bath on the main level. Upstairs offers three generously sized bedrooms and a full bathroom, while the walk-out basement provides additional usable space and endless possibilities for finishing or storage. As an end unit, the home is filled with natural light, enhancing its appeal. Located with ample street parking and easy city access, this property is ideal for investors looking to renovate and resell or add to their rental portfolio. Bring your plans and creativity — this one is ready for your personal touches!

Key facts

• Rehab opportunity
• Strong foundation
• Fully demoed

Tags

• REHAB OPPORTUNITY
• FULLY DEMOED
• STRONG FOUNDATION
• FLEXIBLE ACCESS
• SPACIOUS FAMILY ROOM
• WALK-OUT BASEMENT

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $95k.

Deal economics

• At list price, monthly cash flow is $616 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $89k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.8% 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 $1,921/mo this rent would consume 60% 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 $657 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 + 6.6% rent growth), your $27k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 24y 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: property tax is 3.9% of price; flood insurance adds $56/mo; built in 1927 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; 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 $89,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 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 1927 — 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 2.02% ✓
• Cap rate: 14.78%
• Cash-on-cash: 30.30%
• DSCR: 2.35
• GRM: 4.1

CMA / ARV

• ARV (median comp): $135,858
• List price: $95,000
• Delta: -30.07%
• 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
2913 Parkwood Ave	0.15mi	3/1.0	2,160 (+5%)	7mo	$60,500	$28	72
2312 Edgemont Ave	0.19mi	4/1.5 (+1)	2,118 (+3%)	9mo	$147,000	$69	70
2400 Reisterstown Rd	0.09mi	3/2.0	1,752 (-15%)	5mo	$75,000	$43	66
1920 N Bentalou St	0.40mi	4/3.5 (+1)	1,928 (-6%)	1mo	$255,000	$132	61
2410 Reisterstown Rd	0.11mi	4/2.0 (+1)	2,338 (+14%)	8mo	$135,000	$58	58
1501 N Payson St N	0.63mi	4/2.0 (+1)	2,000 (-2%)	4mo	$162,000	$81	56
1731 N Bentalou St	0.50mi	4/2.0 (+1)	2,175 (+6%)	5mo	$189,500	$87	55
1520 Appleton St	0.60mi	3/3.5	1,920 (-6%)	4mo	$215,000	$112	54
2313 Braddish Ave	0.67mi	3/2.0	1,980 (-4%)	8mo	$239,000	$121	54
2402 Liberty Heights Ave	0.41mi	4/1.5 (+1)	1,800 (-12%)	4mo	$90,000	$50	48
3226 Tioga Pkwy	0.58mi	3/2.5	1,792 (-13%)	8mo	$250,000	$140	45
1922 N Bentalou St	0.40mi	4/3.5 (+1)	2,300 (+12%)	9mo	$260,000	$113	45

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: 26.8%
• Equity multiple: 2.18×
• Total profit: $31,290
• Equity at exit: $14,165

10-year hold

• IRR: 36.9%
• Equity multiple: 5.16×
• Total profit: $110,648
• Equity at exit: $8,214

Cash invested: $26,600 (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: 4.1×

Monthly cashflow live

• Estimated rent: $1,921 high
• Mortgage (P&I): −$498
• Tax from tax record: −$308 /mo · $3,697/yr
• Insurance: −$40
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $616

Break-even live

Break-even rent $1,141

Max offer price $95,000

Occupancy floor 63%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2201 Whittier Ave Baltimore, MD	4.0	2.0	1750	$1,700	$0.97	18d	1	0.12mi
2201 Whittier Ave Baltimore, MD	4.0	2.0	1750	$1,700	$0.97	44d	1	0.12mi
2128 N Pulaski St Baltimore, MD	4.0	3.0	2166	$2,200	$1.02	44d	1	0.17mi
2204 Clifton Ave Baltimore, MD	3.0	1.0	1400	$1,450	$1.04	4d	1	0.28mi
2534 McCulloh St Unit 1 Baltimore, MD	4.0	2.0	2861	$3,300	$1.15	24d	1	0.47mi
1616 N Fulton Ave Baltimore, MD	3.0	2.0	1620	$1,795	$1.11	4d	1	0.50mi
2405 W North Ave Baltimore, MD	4.0	3.0	1826	$1,900	$1.04	4d	1	0.51mi
2511 Madison Ave Unit 1 Baltimore, MD	4.0	2.0	2700	$2,700	$1.00	44d	1	0.55mi
1617-A Moreland Ave Unit 2nd Flr Baltimore, MD	2.0	1.0	1500	$1,400	$0.93	44d	1	0.57mi
1516 N Mount St Baltimore, MD	3.0	1.5	1830	$1,750	$0.96	15d	1	0.60mi
3104 Tioga Pkwy Baltimore, MD	3.0	2.0	1640	$2,050	$1.25	22d	1	0.60mi
1501 N Payson St Baltimore, MD	3.0	1.0	1400	$1,550	$1.11	44d	1	0.60mi
1205 Clendenin St Baltimore, MD	3.0	1.5	1560	$800	$0.51	24d	1	0.63mi
2305 Wichita Ave Unit 1 Baltimore, MD	3.0	1.0	1950	$1,300	$0.67	24d	1	0.68mi
1315 Presstman St Baltimore, MD	4.0	2.0	1700	$2,000	$1.18	44d	1	0.77mi
805 Brooks Ln #2 Baltimore, MD	2.0	1.0	2120	$1,500	$0.71	3d	1	0.80mi
2028 Druid Hill Ave Baltimore, MD	3.0	2.5	1437	$1,799	$1.25	11d	1	0.81mi
2028 Druid Hill Ave Unit 1 Baltimore, MD	3.0	2.5	1437	$1,750	$1.22	3d	1	0.81mi
2020 McCulloh St Unit 1 Baltimore, MD	2.0	2.0	2440	$1,650	$0.68	44d	1	0.83mi
2020 McCulloh St Unit 2 Baltimore, MD	2.0	2.0	2440	$1,950	$0.80	44d	1	0.83mi
2535 Brookfield Ave Baltimore, MD	3.0	1.0	2736	$1,500	$0.55	44d	1	0.84mi
914 Whitelock St Baltimore, MD	4.0	3.5	2880	$2,250	$0.78	4d	1	0.85mi
2812 Clifton Ave Baltimore, MD	3.0	1.5	1650	$1,850	$1.12	44d	1	0.86mi
1613 Riggs Ave Baltimore, MD	3.0	2.5	1800	$1,800	$1.00	24d	1	0.95mi
2917 Clifton Ave Baltimore, MD	4.0	4.0	1700	$2,150	$1.26	24d	1	0.96mi
815 Lennox St Baltimore, MD	3.0	3.5	1600	$2,790	$1.74	24d	1	1.00mi
2800 Presstman St Baltimore, MD	3.0	2.5	1460	$1,799	$1.23	24d	1	1.02mi
1725 Druid Hill Ave Baltimore, MD	4.0	3.0	2195	$2,100	$0.96	24d	1	1.04mi
2302 Mount Royal Ter Baltimore, MD	4.0	3.5	2351	$3,000	$1.28	24d	1	1.06mi
918 N Bentalou St Baltimore, MD	3.0	1.5	1485	$1,750	$1.18	44d	1	1.06mi
3030 Windsor Ave Baltimore, MD	4.0	1.5	2124	$1,995	$0.94	4d	1	1.07mi
736 Watts St Baltimore, MD	3.0	3.5	2000	$3,250	$1.62	44d	1	1.08mi
734 Watts St Baltimore, MD	3.0	3.5	1720	$2,900	$1.69	44d	1	1.08mi
1628 McCulloh St Unit 2 Baltimore, MD	4.0	2.5	2000	$2,000	$1.00	4d	1	1.10mi
1702 Eutaw Pl Baltimore, MD	2.0	2.0	2000	$1,550	$0.78	18d	1	1.11mi
1614 McCulloh St #1 Baltimore, MD	3.0	3.0	2885	$2,400	$0.83	44d	1	1.13mi
1402 Poplar Grove St Baltimore, MD	4.0	1.5	1540	$800	$0.52	44d	1	1.14mi
3000 Falls Rd Baltimore, MD	2.0	1.0	1646	$2,499	$1.52	2d	1	1.17mi
3003 Presstman St Unit 1 Baltimore, MD	2.0	2.0	1450	$1,400	$0.97	44d	1	1.20mi
3003 Presstman St Unit 2 Baltimore, MD	2.0	1.0	1450	$1,300	$0.90	24d	1	1.20mi

Listing history 24 events

1. 2026-06-18
   days on market $95,000 Active 71 DOM
2. 2026-06-17
   days on market $95,000 Active 70 DOM
3. 2026-06-16
   days on market $95,000 Active 69 DOM
4. 2026-06-15
   days on market $95,000 Active 68 DOM
5. 2026-06-13
   days on market $95,000 Active 66 DOM
6. 2026-06-09
   days on market $95,000 Active 62 DOM
7. 2026-06-08
   days on market $95,000 Active 61 DOM
8. 2026-06-07
   days on market $95,000 Active 60 DOM
9. 2026-06-04
   days on market $95,000 Active 57 DOM
10. 2026-06-03
    days on market $95,000 Active 56 DOM
11. 2026-06-02
    days on market $95,000 Active 55 DOM
12. 2026-06-01
    days on market $95,000 Active 54 DOM
13. 2026-05-31
    days on market $95,000 Active 53 DOM
14. 2026-04-08
    listed $95,000 Active 1072-char remark

    Show marketing remark (1072 chars)

    Investor Special – Prime Rehab Opportunity in Baltimore City! Welcome to 2301 N Monroe Street — a fully demoed end-unit rowhome ready for your vision. This two-story property with a basement offers a strong foundation for your next renovation project, with some repairs already completed to help you get started. The main level features front, side, and rear entrances, providing flexible access and layout options. Inside, you’ll find a spacious family room that flows into the dining/kitchen area, along with a convenient half bath on the main level. Upstairs offers three generously sized bedrooms and a full bathroom, while the walk-out basement provides additional usable space and endless possibilities for finishing or storage. As an end unit, the home is filled with natural light, enhancing its appeal. Located with ample street parking and easy city access, this property is ideal for investors looking to renovate and resell or add to their rental portfolio. Bring your plans and creativity — this one is ready for your personal touches!

15. 2004-12-23
    soldstatus $85,000
16. 2004-12-10
    soldstatus $85,000 377-char remark

    Show marketing remark (377 chars)

    JUST GORGEOUS, TWICE THE SIZE, REMODELED NEW TOP TO BOTTTOM, NEW ROOF, ELECTRIC WIRES, PLUMBING, DOORS, WINDOWS, BATH TUB, VANITY, COMMODE, KIT CABINETS, KIT APPLIANCES, W/ W CARPET, CERAMIC TILES IN KIT AND BATH , FRESHLY PAINTED, NEW A/C AND NEW GAS FURNACE TO BE INSTALLED BEFORE SETTLEMENT. KIT APPLIANCES TO BE INSTALLED BEFORE SETTLEMENT, BSMT ALL CLEANED & PAINTED

17. 2004-11-01
    historical 377-char remark

    Show marketing remark (377 chars)

    JUST GORGEOUS, TWICE THE SIZE, REMODELED NEW TOP TO BOTTTOM, NEW ROOF, ELECTRIC WIRES, PLUMBING, DOORS, WINDOWS, BATH TUB, VANITY, COMMODE, KIT CABINETS, KIT APPLIANCES, W/ W CARPET, CERAMIC TILES IN KIT AND BATH , FRESHLY PAINTED, NEW A/C AND NEW GAS FURNACE TO BE INSTALLED BEFORE SETTLEMENT. KIT APPLIANCES TO BE INSTALLED BEFORE SETTLEMENT, BSMT ALL CLEANED & PAINTED

18. 2004-08-10
    listed $85,000 377-char remark

    Show marketing remark (377 chars)

    JUST GORGEOUS, TWICE THE SIZE, REMODELED NEW TOP TO BOTTTOM, NEW ROOF, ELECTRIC WIRES, PLUMBING, DOORS, WINDOWS, BATH TUB, VANITY, COMMODE, KIT CABINETS, KIT APPLIANCES, W/ W CARPET, CERAMIC TILES IN KIT AND BATH , FRESHLY PAINTED, NEW A/C AND NEW GAS FURNACE TO BE INSTALLED BEFORE SETTLEMENT. KIT APPLIANCES TO BE INSTALLED BEFORE SETTLEMENT, BSMT ALL CLEANED & PAINTED

19. 2004-02-06
    soldstatus $7,000
20. 2004-01-31
    soldstatus $7,000
21. 2003-12-01
    historical
22. 2003-11-26
    historical
23. 2003-11-17
    listed $9,900
24. 2002-03-01
    listed $35,000

ⓘ 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: $3,697 · $308/mo
• Projected year-2 tax: $3,697 · $308/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 8/10 Severe FEMA zone X (unshaded) · 99% 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: $23,049
• − Mortgage interest: −$5,321
• − Property taxes: −$3,697
• − Insurance: −$1,142
• − Repairs & maintenance: −$1,844
• − Management: −$1,844
• − Depreciation: −$2,764
• Taxable income: $6,438
• Est. tax owed @ 24.0%: −$1,545
• After-tax cash flow: $5,847/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

+171.4% since first listed

11 events — show timeline

• 2026-04-08 Listed $95,000 BRIGHT MLS
• 2004-12-23 Sold (Public Records) $85,000 Public Records
• 2004-12-10 Sold (MLS) $85,000 MRIS
• 2004-11-01 Delisted — MRIS
• 2004-08-10 Listed $85,000 MRIS
• 2004-02-06 Sold (MLS) $7,000 MRIS
• 2004-01-31 Sold (MLS) $7,000 MRIS
• 2003-12-01 Delisted — MRIS
• 2003-11-26 Delisted — MRIS
• 2003-11-17 Listed $9,900 MRIS
• 2002-03-01 Listed $35,000 MRIS

Property tax history

+2.8%/yr

Latest (2025): $3,697 · +10.2% YoY. Source: county tax records.