1612 Cypress · Baltimore, MD 21226

$35,000

2 bd · 1.0 ba · 912 sqft · Townhouse public records · 37 Days on market

Built 1920 1,306 sqft lot $38/sqft · 52% below area

---

Why this score? — see what drove the C- 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
• Appreciation +8.9/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0

Listing remarks MLS

2 Story Porch Front Townhome in Curtis Bay. Property is Fully Framed and Ready to Hang Drywall. Great Investment Opportunity! NEW Windows. 2 Bedrooms, 1 Full Bathroom.

Key facts

• Property is vacant
• Built 1920
• Listed 37 days

Tags

• 2 STORY PORCH-FRONT TOWNHOUSE
• PROPERTY IS VACANT

Property features AI

Finance

• Other: Income/expense item listed: Annual ground rent
• Financial info: Ground rent payment $180 semi-annually; Ownership interest: Ground rent

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Hot water: Natural gas
• Home design: Interior townhouse / rowhouse; Above-grade finished area approx. 912 (source: assessor); Below-grade unfinished area approx. 420 (source: assessor)
• Construction: Frame construction; Other foundation; Other structures above and below grade; Year built (source: assessor)
• Exterior features: Lot dimensions approximately 14 x 100; Ground rent exists (semi-annual payment of $180)

Interior

• Kitchen: Combination kitchen/dining (appliances not specified)
• Bedrooms: Two bedrooms on the first upper level
• Bathrooms: One full bathroom (on first upper level / total)
• Heating & cooling: Heating: Other; Cooling: Other
• Interior features: Combination kitchen and dining area; Basement present (other type)
• Laundry & utility: Hot water supplied by natural gas

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $35k.

Deal economics

• At list price, monthly cash flow is $874 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $34k (3.0% below list) — sets the bar for market timing.

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: 45 active listings in the ZIP; 23 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

• In year one you build about $3k of equity ($242 loan paydown + $3k appreciation (7.8% local appreciation)).
• Baltimore County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (7.8% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 28y 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.
• Current owner paid $16k; list at $35k implies a 112% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $33,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 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. 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: 4.28% ✓
• Cap rate: 36.25%
• Cash-on-cash: 106.98%
• DSCR: 5.76
• GRM: 1.9

CMA / ARV

• ARV (median comp): $72,184
• List price: $35,000
• Delta: -51.51%
• 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
1607 Cereal St	0.16mi	2/1.0	840 (-8%)	7mo	$70,000	$83	74
4221 Morrison Ct	0.21mi	2/1.5	832 (-9%)	1mo	$25,000	$30	73
4523 Pennington Ave	0.06mi	2/2.0	1,008 (+10%)	4mo	$105,000	$104	72
4206 Grace Ct	0.24mi	2/1.0	832 (-9%)	6mo	$60,500	$73	69
4101 Morrison Ct	0.30mi	2/1.0	832 (-9%)	6mo	$32,500	$39	66
1642 Ceddox St	0.18mi	2/1.0	1,040 (+14%)	10mo	$44,000	$42	60
3832 Saint Margaret St	0.70mi	2/1.0	810 (-11%)	2mo	$90,000	$111	47
1347 Cambria St	0.59mi	3/2.5 (+1)	986 (+8%)	3mo	$177,000	$180	45
1150 Monroe Cir	0.57mi	3/1.0 (+1)	1,024 (+12%)	6mo	$55,000	$54	43
3750 Saint Margaret St	0.73mi	2/1.0	784 (-14%)	2mo	$140,000	$179	41
3727 Saint Margaret St	0.73mi	2/1.0	784 (-14%)	6mo	$65,000	$83	38
3825 10th St	0.73mi	3/1.0 (+1)	810 (-11%)	10mo	$110,000	$136	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

7.75% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.10×
• Total profit: $69,567
• Equity at exit: $25,997

10-year hold

• IRR: —
• Equity multiple: 17.39×
• Total profit: $160,619
• Equity at exit: $51,048

Cash invested: $9,800 (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 21226

• Home prices YoY: 2.5%
• Active inventory: 45
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,497 high
• Mortgage (P&I): −$184
• Tax from tax record: −$111 /mo · $1,334/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $874

Break-even live

Break-even rent $392

Max offer price $35,000

Occupancy floor 37%

Sensitivity live

Price	-10% $893	-5% $884	+0% $874	+5% $864	+10% $854
Rent	-10% $755	-5% $814	+0% $874	+5% $933	+10% $992
Rate	-1.0pp $891	-0.5pp $883	base $874	+0.5pp $865	+1.0pp $855

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1628 Plum St Apt B (CB) Baltimore, MD	1.0	1.0	800	$850	$1.06	25d	1	0.32mi
1353 Cambria St Brooklyn, MD	3.0	2.0	986	$1,600	$1.62	19d	1	0.58mi
1305 E Patapsco Ave Brooklyn, MD	3.0	1.5	930	$1,650	$1.77	6d	1	0.65mi
3826 10th St Unit Entire House Baltimore, MD	3.0	2.0	1110	$2,400	$2.16	25d	1	0.73mi
1049 E Patapsco Ave Unit a Baltimore, MD	2.0	1.0	748	$1,257	$1.68	45d	1	0.75mi
5215 Wasena Ave Brooklyn, MD	3.0	1.0	1030	$1,650	$1.60	45d	1	0.81mi
807 Stoll St Unit 1 Baltimore, MD	1.0	1.0	658	$1,000	$1.52	45d	1	0.83mi
837 E Jeffrey St Apt 1 Baltimore, MD	1.0	1.0	1116	$900	$0.81	19d	1	0.83mi
837 E Jeffrey St Unit 2 Baltimore, MD	1.0	1.0	1116	$900	$0.81	45d	1	0.83mi
5227 Patrick Henry Dr Brooklyn, MD	2.0	1.0	736	$1,326	$1.80	23d	1	0.89mi
3840 8th St Brooklyn, MD	3.0	1.5	1088	$1,606	$1.48	6d	1	0.93mi
4206 Audrey Ave Brooklyn, MD	2.0	2.0	1104	$1,275	$1.15	45d	1	1.01mi
4206 Audrey Ave Brooklyn, MD	3.0	3.0	1104	$1,950	$1.77	25d	1	1.01mi
1 Ballman Ct Unit 2 Baltimore, MD	2.0	1.0	700	$1,250	$1.79	45d	1	1.08mi
507 Washburn Ave Brooklyn, MD	3.0	1.5	1024	$2,500	$2.44	6d	1	1.12mi
507 Washburn Ave Brooklyn, MD	3.0	1.5	1024	$2,500	$2.44	21d	1	1.12mi
507 Washburn Ave Brooklyn, MD	3.0	1.5	1024	$2,500	$2.44	25d	1	1.12mi
4400 4th St Unit BASEMENT Baltimore, MD	2.0	1.0	925	$1,350	$1.46	45d	1	1.19mi
3528 6th St Brooklyn, MD	2.0	2.5	1060	$1,500	$1.42	19d	1	1.20mi
4207 3rd St Unit 3 Brooklyn, MD	2.0	1.0	850	$1,595	$1.88	6d	1	1.28mi
520 Baltic Ave Unit B Baltimore, MD	1.0	1.0	800	$1,050	$1.31	45d	1	1.31mi
3513 Horton Ave Brooklyn, MD	3.0	1.0	1020	$1,600	$1.57	19d	1	1.39mi
140 Bethlehem Pl Brooklyn, MD	3.0	3.5	1120	$1,500	$1.34	45d	1	1.42mi

Listing history 46 events

1. 2026-06-21
   days on market $35,000 Active 37 DOM
2. 2026-06-18
   days on market $35,000 Active 34 DOM
3. 2026-06-17
   days on market $35,000 Active 33 DOM
4. 2026-06-16
   days on market $35,000 Active 32 DOM
5. 2026-06-15
   days on market $35,000 Active 31 DOM
6. 2026-06-13
   days on market $35,000 Active 29 DOM
7. 2026-06-09
   days on market $35,000 Active 25 DOM
8. 2026-06-08
   days on market $35,000 Active 24 DOM
9. 2026-06-07
   days on market $35,000 Active 23 DOM
10. 2026-06-04
    days on market $35,000 Active 20 DOM
11. 2026-06-03
    days on market $35,000 Active 19 DOM
12. 2026-06-02
    remarks 408-char remark
13. 2026-06-02
    days on market $35,000 Active 18 DOM
14. 2026-06-01
    days on market $35,000 Active 17 DOM
15. 2026-05-31
    days on market $35,000 Active 16 DOM
16. 2026-05-15
    listed $35,000 Active 407-char remark
17. 2012-11-06
    soldstatus $16,500 Sold 167-char remark

    Show marketing remark (167 chars)

    2 Story Porch Front Townhome in Curtis Bay. Property is Fully Framed and Ready to Hang Drywall. Great Investment Opportunity! NEW Windows. 2 Bedrooms, 1 Full Bathroom.

18. 2012-11-06
    soldstatus $16,500

    Show marketing remark (167 chars)

    2 Story Porch Front Townhome in Curtis Bay. Property is Fully Framed and Ready to Hang Drywall. Great Investment Opportunity! NEW Windows. 2 Bedrooms, 1 Full Bathroom.

19. 2012-10-05
    status Contract 167-char remark

    Show marketing remark (167 chars)

    2 Story Porch Front Townhome in Curtis Bay. Property is Fully Framed and Ready to Hang Drywall. Great Investment Opportunity! NEW Windows. 2 Bedrooms, 1 Full Bathroom.

20. 2012-10-05
    historical

    Show marketing remark (167 chars)

    2 Story Porch Front Townhome in Curtis Bay. Property is Fully Framed and Ready to Hang Drywall. Great Investment Opportunity! NEW Windows. 2 Bedrooms, 1 Full Bathroom.

21. 2012-10-01
    status Active 167-char remark

    Show marketing remark (167 chars)

    2 Story Porch Front Townhome in Curtis Bay. Property is Fully Framed and Ready to Hang Drywall. Great Investment Opportunity! NEW Windows. 2 Bedrooms, 1 Full Bathroom.

22. 2012-10-01
    historical Expired 167-char remark

    Show marketing remark (167 chars)

    2 Story Porch Front Townhome in Curtis Bay. Property is Fully Framed and Ready to Hang Drywall. Great Investment Opportunity! NEW Windows. 2 Bedrooms, 1 Full Bathroom.

23. 2012-05-02
    listed $22,900 Active 167-char remark

    Show marketing remark (167 chars)

    2 Story Porch Front Townhome in Curtis Bay. Property is Fully Framed and Ready to Hang Drywall. Great Investment Opportunity! NEW Windows. 2 Bedrooms, 1 Full Bathroom.

24. 2012-05-02
    listed $22,900

    Show marketing remark (167 chars)

    2 Story Porch Front Townhome in Curtis Bay. Property is Fully Framed and Ready to Hang Drywall. Great Investment Opportunity! NEW Windows. 2 Bedrooms, 1 Full Bathroom.

25. 2010-12-11
    historical Expired
26. 2010-12-11
    historical
27. 2010-01-05
    status Active
28. 2009-12-24
    historical Expired
29. 2009-05-04
    price
30. 2009-01-09
    price
31. 2008-12-01
    listed
32. 2008-12-01
    listed $49,000
33. 2008-11-12
    soldstatus $12,000
34. 2008-02-24
    historical
35. 2008-02-13
    price
36. 2007-12-01
    price
37. 2007-11-28
    price
38. 2007-11-13
    listed
39. 2002-04-22
    soldstatus $7,000
40. 2001-11-05
    historical
41. 2001-05-13
    listed $7,900
42. 1998-09-02
    historical
43. 1998-08-31
    historical
44. 1998-02-03
    listed
45. 1998-02-02
    listed
46. 1993-05-25
    soldstatus $17,113

ⓘ 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: $1,334 · $111/mo
• Projected year-2 tax: $1,334 · $111/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 8/10 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 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,969
• − Mortgage interest: −$1,961
• − Property taxes: −$1,334
• − Insurance: −$175
• − Repairs & maintenance: −$1,438
• − Management: −$1,438
• − Depreciation: −$1,018
• Taxable income: $10,606
• Est. tax owed @ 24.0%: −$2,545
• After-tax cash flow: $7,938/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
• City population: 588,727
• Population (ZIP): 6,593

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 59% Black 18% Two or more races 13% Hispanic / Latino 8% Asian 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 3%
• Common ancestry: Slovak 7% Romanian 2% Scotch-Irish 1%
• Foreign-born: 7% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 7% Tagalog/Filipino 1% Other Indo-European 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: ▲ 7.75%
• Current HPI: 318.79
• Rent YoY: —
• Metro: —
• 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

+104.5% since first listed

31 events — show timeline

• 2026-05-15 Listed $35,000 BRIGHT MLS
• 2012-11-06 Sold (MLS) $16,500 BRIGHT MLS
• 2012-11-06 Sold (MLS) $16,500 MRIS
• 2012-10-05 Pending — MRIS
• 2012-10-05 Listing Removed — BRIGHT MLS
• 2012-10-01 Relisted — MRIS
• 2012-10-01 Delisted — MRIS
• 2012-05-02 Listed $22,900 MRIS
• 2012-05-02 Listed $22,900 BRIGHT MLS
• 2010-12-11 Delisted — MRIS
• 2010-12-11 Listing Removed — BRIGHT MLS
• 2010-01-05 Relisted — MRIS
• 2009-12-24 Delisted — MRIS
• 2009-05-04 Price Changed — MRIS
• 2009-01-09 Price Changed — MRIS
• 2008-12-01 Listed — MRIS
• 2008-12-01 Listed $49,000 BRIGHT MLS
• 2008-11-12 Sold (Public Records) $12,000 Public Records
• 2008-02-24 Delisted — MRIS
• 2008-02-13 Price Changed — MRIS
• 2007-12-01 Price Changed — MRIS
• 2007-11-28 Price Changed — MRIS
• 2007-11-13 Listed — MRIS
• 2002-04-22 Sold (MLS) $7,000 MRIS
• 2001-11-05 Delisted — MRIS
• 2001-05-13 Listed $7,900 MRIS
• 1998-09-02 Delisted — MRIS
• 1998-08-31 Delisted — MRIS
• 1998-02-03 Listed — MRIS
• 1998-02-02 Listed — MRIS
• 1993-05-25 Sold (Public Records) $17,113 Public Records

Property tax history

+0.8%/yr

Latest (2025): $1,334 · +30.9% YoY. Source: county tax records.