150 Irving St · Baltimore, MD 21229

$10,900

2 bd · 1.0 ba · 924 sqft · Townhouse public records · 25 Days on market

Built 1900 871 sqft lot

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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 +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

Exceptional Opportunity to Renovate and Restore this Spacious 3-Level Rowhome! Featuring Generous Bedroom Sizes, Living Areas, and a Flexible Floor Plan, this Property is Ready for a Complete Transformation. Ideal for Investors, Contractors, or Buyers Looking to Customize a Home to their Vision. Endless Potential to Create Stunning Living Spaces in a Classic Rowhome Layout. Bring Your Ideas and Unlock the Value this Property Has to Offer! Sold As-Is.

Key facts

• Built 1900
• Listed 25 days

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Interior townhouse/rowhouse; Fee simple ownership; Year built (estimated)
• Construction: Asbestos construction material; Slab foundation
• Exterior features: Above-grade and below-grade structures noted; Annually paid ground rent

Interior

• Bedrooms: 2 bedrooms on main level
• Bathrooms: 1 full bathroom on main level; 1 full bathroom total
• Heating & cooling: Baseboard electric heating; Electric hot water
• Interior features: Partial basement

🏷️ Possibly a rental listed for sale. The $10,900 price doesn't fit this home's estimated sale value (~$128,436) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $11k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $11k).
• Recommended offer: $11k (1.5% below list) — sets the bar for market timing.
• Cap rate 124.0% 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: 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.
• Zoned schools: Elmer A. Henderson: A Johns Hopkins Partnership (math 2% / reading 16%, grade F, #650 of 860 statewide, top 77%, 642 students, 80% FRL); Baltimore Polytechnic Institute (math 71% / reading 84%, grade A-, #22 of 222 statewide, top 10%, 1,555 students, 43% FRL) — zoned schools average 62% FRL vs 79% district-wide (17 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 43% at this address vs 12% district-wide (+32 pts) — the actual schools serving this property are materially stronger than the Baltimore City Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+5.4%/yr); 256 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $75 of loan paydown is wiped out by about $327 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 $3k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($11k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $10,736 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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. 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?
6. 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.
7. 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.
8. 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: 13.29% ✓
• Cap rate: 123.99%
• Cash-on-cash: 420.36%
• DSCR: 19.70
• GRM: 0.6

CMA / ARV

• ARV (on-the-fly): $128,436
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4209 Old Frederick Rd	0.23mi	3/1.5 (+1)	1,024 (+11%)	6mo	$40,000	$39	59
377 Marydell Rd	0.48mi	2/1.0	1,040 (+13%)	2mo	$145,000	$139	55
335 N Grantley St	0.62mi	2/2.0	840 (-9%)	2mo	$85,000	$101	50
708 Bethnal Rd	0.74mi	2/1.5	896 (-3%)	10mo	$145,000	$162	50
45 S Culver St	0.28mi	3/1.0 (+1)	1,028 (+11%)	16mo	$145,000	$141	50
134 Palormo Ave	0.41mi	2/1.5	1,050 (+14%)	8mo	$72,000	$69	49
118 Upmanor Rd	0.50mi	3/2.0 (+1)	1,024 (+11%)	2mo	$235,000	$229	48
3236 Lohrs Ln	0.61mi	2/1.0	840 (-9%)	11mo	$64,000	$76	48
119 Hilton St	0.62mi	2/2.0	1,040 (+13%)	0mo	$211,000	$203	46
23 N Morley St	0.56mi	3/1.0 (+1)	1,041 (+13%)	6mo	$85,000	$82	43
3609 W Mulberry St	0.60mi	2/1.5	840 (-9%)	18mo	$141,000	$168	40
22 N Morley St	0.54mi	3/2.0 (+1)	1,040 (+13%)	12mo	$65,000	$63	34

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: —
• Equity multiple: 23.90×
• Total profit: $69,899
• Equity at exit: $1,625

10-year hold

• IRR: —
• Equity multiple: 54.71×
• Total profit: $163,937
• Equity at exit: $942

Cash invested: $3,052 (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: 256
• Price-to-rent: 0.6×

Monthly cashflow live

• Estimated rent: $1,449 high
• Mortgage (P&I): −$57
• Tax est. 1.5%: −$14 /mo · $164/yr
• Insurance: −$5
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $1,069

Break-even live

Break-even rent $95

Max offer price $10,900

Occupancy floor 21%

Sensitivity live

Price	-10% $1,077	-5% $1,073	+0% $1,069	+5% $1,065	+10% $1,062
Rent	-10% $955	-5% $1,012	+0% $1,069	+5% $1,126	+10% $1,184
Rate	-1.0pp $1,075	-0.5pp $1,072	base $1,069	+0.5pp $1,066	+1.0pp $1,063

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: $2,725
• Closing costs: $327
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4018 Massachusetts Ave Baltimore, MD	3.0	1.0	1050	$1,400	$1.33	25d	1	0.03mi
4215 Connecticut Ave Baltimore, MD	1.0	1.0	625	$950	$1.52	25d	1	0.18mi
304 Collins Ave Unit 1 Baltimore, MD	1.0	1.0	845	$1,600	$1.89	45d	1	0.21mi
304 Collins Ave Unit 2 Baltimore, MD	3.0	1.0	1016	$2,100	$2.07	45d	1	0.21mi
2 S Woodington Rd Baltimore, MD	1.0	1.0	620	$1,310	$2.11	45d	1	0.25mi
2 S Woodington Rd Baltimore, MD	1.0	1.0	620	$1,135	$1.83	0d	1	0.25mi
2 S Woodington Rd Baltimore, MD	2.0	1.0	856	$1,160	$1.36	16d	1	0.25mi
2 S Woodington Rd Baltimore, MD	1.0	1.0	620	$1,135	$1.83	6d	1	0.25mi
2 N Woodington Rd Baltimore, MD	1.0–2.0	1.0	738	$1,335	$1.81	4d	5	0.26mi
4301 Parkton St Baltimore, MD	1.0–3.0	1.0	730	$1,264	$1.73	45d	1	0.49mi
3607 W Lexington St Baltimore, MD	3.0	2.0	1050	$1,895	$1.80	6d	1	0.54mi
3310 Elbert St Baltimore, MD	2.0	1.0	920	$1,550	$1.68	25d	1	0.57mi
4601 Pen Lucy Rd Unit 4718-F Baltimore, MD	2.0	1.0	879	$1,225	$1.39	3d	1	0.61mi
4601 Pen Lucy Rd Unit 4714-B Baltimore, MD	2.0	1.0	730	$1,205	$1.65	16d	1	0.61mi
4601 Pen Lucy Rd Unit 103-H Baltimore, MD	2.0	1.0	798	$1,315	$1.65	25d	1	0.61mi
4601 Pen Lucy Rd Unit 4615-G Baltimore, MD	2.0	1.0	798	$1,200	$1.50	23d	1	0.62mi
3706 W Franklin St Unit 1 Baltimore, MD	2.0	1.0	735	$1,100	$1.50	6d	1	0.64mi
4431 Eldone Rd Baltimore, MD	3.0	2.0	896	$2,000	$2.23	25d	1	0.67mi
402 Colleen Rd Baltimore, MD	1.0–2.0	1.0	910	$1,450	$1.59	4d	11	0.72mi
4520 Scarlet Oak Ln Baltimore, MD	2.0	1.0	1025	$1,500	$1.46	45d	1	0.73mi
219 Atholgate Ln Baltimore, MD	1.0–3.0	1.0–1.5	814	$1,300	$1.60	4d	2	0.74mi
751 Yale Ave Baltimore, MD	3.0	1.5	1024	$1,750	$1.71	45d	1	0.79mi
600 Linnard St Baltimore, MD	1.0	1.0	600	$1,300	$2.17	45d	1	0.80mi
3392 Saint Benedict St Baltimore, MD	2.0	1.0	864	$1,450	$1.68	25d	1	0.83mi
627 Lucia Ave Baltimore, MD	3.0	1.0	892	$1,750	$1.96	25d	1	0.88mi
501 Hazlett Ave Baltimore, MD	2.0–3.0	1.5–2.0	1044	$1,395	$1.34	0d	8	0.91mi
613 S Beechfield Ave Baltimore, MD	3.0	1.5	1080	$1,950	$1.81	45d	1	0.92mi
709 Denison St Baltimore, MD	2.0	2.0	840	$1,630	$1.94	25d	1	0.95mi
787 N Grantley St Baltimore, MD	3.0	1.0	1116	$1,575	$1.41	25d	1	1.00mi
532 Coventry Rd Baltimore, MD	2.0	1.0	661	$1,300	$1.97	23d	1	1.04mi
643 S Wickham Rd Baltimore, MD	2.0	3.0	896	$1,800	$2.01	0d	1	1.07mi
1216 N Augusta Ave Baltimore, MD	3.0	1.0	1024	$1,550	$1.51	25d	1	1.13mi
4103 Mountwood Rd Baltimore, MD	3.0	2.0	1030	$1,700	$1.65	45d	1	1.14mi
4041 Wilkens Ave Unit B Baltimore, MD	1.0	1.0	600	$1,000	$1.67	45d	1	1.15mi
4041 Wilkens Ave Unit C Baltimore, MD	1.0	1.0	600	$1,050	$1.75	16d	1	1.15mi
1307 Wildwood Pkwy Baltimore, MD	2.0	1.0	725	$1,295	$1.79	45d	1	1.17mi
131 N Bend Rd Unit 131-1B Baltimore, MD	2.0	1.5	910	$1,225	$1.35	23d	1	1.20mi
4103 Stokes Dr Apt 1 Baltimore, MD	2.0	1.0	725	$1,095	$1.51	45d	1	1.25mi
5364 Jamestowne Ct Baltimore, MD	3.0	1.0–1.5	787	$1,590	$2.02	0d	15	1.31mi
2657 Lehman St Unit 1 Baltimore, MD	2.0	1.0	1056	$1,000	$0.95	45d	1	1.34mi

Listing history 16 events

1. 2026-06-21
   days on market $10,900 Active 25 DOM
2. 2026-06-18
   days on market $10,900 Active 22 DOM
3. 2026-06-17
   price $10,900 Active 21 DOM
4. 2026-06-17
   days on market $12,900 Active 21 DOM
5. 2026-06-16
   days on market $12,900 Active 20 DOM
6. 2026-06-15
   days on market $12,900 Active 19 DOM
7. 2026-06-13
   pricedays on market $12,900 Active 17 DOM
8. 2026-06-09
   days on market $14,895 Active 13 DOM
9. 2026-06-08
   days on market $14,895 Active 12 DOM
10. 2026-06-07
    days on market $14,895 Active 11 DOM
11. 2026-06-04
    pricedays on market $14,895 Active 8 DOM
12. 2026-06-03
    days on market $14,900 Active 7 DOM
13. 2026-06-02
    days on market $14,900 Active 6 DOM
14. 2026-06-01
    days on market $14,900 Active 5 DOM
15. 2026-05-31
    days on market $14,900 Active 4 DOM
16. 2026-05-27
    listed $14,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $17,384
• − Mortgage interest: −$611
• − Property taxes: −$164
• − Insurance: −$54
• − Repairs & maintenance: −$1,391
• − Management: −$1,391
• − Depreciation: −$317
• Taxable income: $13,457
• Est. tax owed @ 24.0%: −$3,230
• After-tax cash flow: $9,600/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

1 event — show timeline

• 2026-05-27 Listed $14,900 BRIGHT MLS

Property tax history

+1.5%/yr

Latest (2025): $1,648 · +10.6% YoY. Source: county tax records.