3822 Bank St · Baltimore, MD 21224

$239,900

3 bd · 1.0 ba · 1,108 sqft · Townhouse public records · 61 Days on market

Built 1920 $217/sqft · 12% above area Est $318k · 24% under

---

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 +18.4/30.0
• ARV discount +15.0/15.0
• DSCR +5.8/10.0
• 1% rule +4.5/10.0
• Livability +3.8/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

A Classic Baltimore Porch Front Townhome, located in a row of porch fronts. Good bones are evident throughout. The property was renovated in 2013 and could use some cosmetic updating i. e. paint. The traditional Baltimore Townhome layout has been retained. It has 2 bathrooms and 3 bedrooms. Bedroom number 3 and bathroom number 2 are located on the lower level. The floors are hardwood with inlaid trim and the bathrooms feature ceramic tile. A decent sized rear fenced yard offers additional recreational space. The most recent sale on this block, albeit for a recent renovation, was 350k. This would be ideal as a starter home

Key facts

• Built 1920
• Listed 61 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $240k.

Deal economics

• At list price, monthly cash flow is $224 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $228k (5.1% below list).
• Recommended offer: $226k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 6.0% in Baltimore — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 (+1.3%/yr); 391 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); solid renter incomes; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• This rent runs 31% of the median local income ($89k/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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 21y 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 $32k; list at $240k implies a 638% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $225,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 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 1920 — 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: 0.95% ✗
• Cap rate: 7.41%
• Cash-on-cash: 4.00%
• DSCR: 1.18
• GRM: 8.8

CMA / ARV

• ARV (median comp): $317,711
• List price: $239,900
• Delta: -24.49%
• 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
309 S Fagley St	0.04mi	2/2.0 (-1)	1,030 (-7%)	1mo	$225,000	$218	77
621 Ponca St	0.57mi	3/2.0	1,116 (+1%)	1mo	$300,000	$269	68
111 N Highland Ave	0.48mi	3/1.5	1,170 (+6%)	1mo	$105,000	$90	65
1008 S Clinton St	0.54mi	3/1.0	1,176 (+6%)	1mo	$200,000	$170	63
806 S Bouldin St	0.47mi	2/2.5 (-1)	1,080 (-2%)	1mo	$360,000	$333	62
14 S Curley St	0.64mi	2/1.0 (-1)	1,092 (-1%)	1mo	$269,000	$246	62
149 N Highland Ave	0.54mi	2/1.0 (-1)	1,170 (+6%)	1mo	$75,000	$64	60
2933 Hudson St	0.66mi	2/2.0 (-1)	1,120 (+1%)	1mo	$235,000	$210	58
122 Ellwood Ave	0.64mi	3/1.5	1,200 (+8%)	0mo	$235,000	$196	54
922 S Bouldin St	0.52mi	2/2.0 (-1)	1,202 (+8%)	1mo	$352,000	$293	52
134 N Curley St	0.73mi	2/2.0 (-1)	1,170 (+6%)	1mo	$270,000	$231	47
3033 Elliott St	0.75mi	2/2.5 (-1)	1,180 (+6%)	1mo	$310,000	$263	42

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 · 1.31% rent growth · sell at horizon

5-year hold

• IRR: -11.9%
• Equity multiple: 0.58×
• Total profit: $-28,456
• Equity at exit: $35,770

10-year hold

• IRR: -5.3%
• Equity multiple: 0.68×
• Total profit: $-21,610
• Equity at exit: $20,742

Cash invested: $67,172 (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 21224

• Rents YoY: 1.3%
• Active inventory: 391
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,277 high
• Mortgage (P&I): −$1,258
• Tax from tax record: −$217 /mo · $2,609/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$478
• Net cashflow: $224

Break-even live

Break-even rent $1,994

Max offer price $239,900

Occupancy floor 85%

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
321 Fagley St Baltimore, MD	2.0	1.0	800	$1,650	$2.06	20d	1	0.04mi
3905 Bank St Baltimore, MD	4.0	1.0–3.0	909	$2,820	$3.10	2d	20	0.07mi
4015 Eastern Ave Unit 2L Baltimore, MD	3.0	2.0	1100	$1,800	$1.64	43d	1	0.15mi
223 Grundy St Baltimore, MD	2.0	1.0	864	$1,450	$1.68	23d	1	0.16mi
502 S Haven St Baltimore, MD	2.0	2.5	1440	$2,400	$1.67	16d	1	0.17mi
502 S Haven St Baltimore, MD	2.0	2.5	1440	$2,400	$1.67	23d	1	0.17mi
3710 E Pratt St Baltimore, MD	2.0	3.5	1230	$1,900	$1.54	23d	1	0.19mi
611 Grundy St Baltimore, MD	3.0	2.0	1434	$2,700	$1.88	23d	1	0.20mi
115 S Eaton St Baltimore, MD	3.0	2.5	1393	$1,800	$1.29	16d	1	0.21mi
235 S Highland Ave Baltimore, MD	2.0	1.5	1222	$2,000	$1.64	23d	1	0.23mi
400 S Highland Ave Unit 402 Baltimore, MD	2.0	1.0	900	$1,700	$1.89	43d	1	0.24mi
3306 Fleet St Baltimore, MD	4.0	3.0	1308	$3,500	$2.68	43d	1	0.29mi
3436 Leverton Ave Baltimore, MD	3.0	3.5	1500	$2,350	$1.57	23d	1	0.32mi
3413 Leverton Ave Baltimore, MD	2.0	1.0	832	$1,000	$1.20	23d	1	0.32mi
3430 E Baltimore St Baltimore, MD	3.0	2.5	1316	$2,250	$1.71	23d	1	0.37mi
106 S Bouldin St Baltimore, MD	2.0	3.0	1134	$2,100	$1.85	20d	1	0.39mi
527 S Lehigh St Baltimore, MD	3.0	2.0	1320	$2,325	$1.76	43d	1	0.41mi
3245 Fait Ave Baltimore, MD	3.0	2.0	1470	$2,900	$1.97	43d	1	0.42mi
3610 Dillon St Baltimore, MD	1.0–2.0	1.0–2.0	828	$2,820	$3.41	43d	1	0.43mi
4505 Foster Ave Baltimore, MD	3.0	3.0	1376	$2,650	$1.93	23d	1	0.43mi
127 S Robinson St Baltimore, MD	2.0	1.5	1400	$2,000	$1.43	43d	1	0.44mi
410 S Newkirk St Baltimore, MD	2.0	1.5	1330	$1,580	$1.19	43d	1	0.44mi
1 N Clinton St Baltimore, MD	4.0	1.5	1200	$1,700	$1.42	19d	1	0.45mi
133 S Macon St Baltimore, MD	2.0	2.5	1440	$2,400	$1.67	17d	1	0.46mi
113 N Clinton St Baltimore, MD	2.0	1.0	1300	$1,995	$1.53	43d	1	0.50mi
17 N East Ave Baltimore, MD	2.0	2.0	1326	$2,550	$1.92	23d	1	0.52mi
611 Oldham St Baltimore, MD	2.0	1.0	1148	$1,800	$1.57	12d	1	0.53mi
643 S Potomac St Baltimore, MD	2.0	1.0	785	$1,650	$2.10	43d	1	0.55mi
3205 Esther Pl Baltimore, MD	2.0	2.0	960	$1,850	$1.93	23d	1	0.56mi
29 N Ellwood Ave Baltimore, MD	3.0	1.5	1100	$2,395	$2.18	23d	1	0.57mi
3850 Boston St Baltimore, MD	2.0	1.0–2.0	854	$3,378	$3.96	2d	22	0.57mi
3036 Hudson St Baltimore, MD	2.0	2.5	1428	$2,600	$1.82	43d	1	0.57mi
3518 Elliott St Baltimore, MD	3.0	2.5	1036	$2,800	$2.70	17d	1	0.59mi
102 S Curley St Baltimore, MD	2.0	1.5	1200	$1,800	$1.50	4d	1	0.60mi
3700 Toone St Baltimore, MD	1.0–2.0	1.0–2.0	1093	$3,218	$2.94	1d	28	0.63mi
1200 S Conkling St Baltimore, MD	1.0–2.0	1.0–2.0	1085	$2,933	$2.70	1d	16	0.63mi
203 N Ellwood Ave Unit Main Baltimore, MD	2.0	2.0	880	$2,200	$2.50	23d	1	0.65mi
34 N Linwood Ave Baltimore, MD	2.0	1.5	1288	$2,400	$1.86	23d	1	0.71mi
404 N Robinson St Baltimore, MD	3.0	3.0	1320	$2,100	$1.59	16d	1	0.71mi
404 N Robinson St Baltimore, MD	3.0	3.0	1320	$2,200	$1.67	23d	1	0.71mi

Listing history 28 events

1. 2026-06-18
   days on market $239,900 Active 61 DOM
2. 2026-06-17
   statusdays on market $239,900 Active 60 DOM
3. 2026-06-08
   statusdays on market $239,900 Active Under Contract 59 DOM
4. 2026-06-07
   days on market $239,900 Active 58 DOM
5. 2026-06-04
   days on market $239,900 Active 55 DOM
6. 2026-06-03
   days on market $239,900 Active 54 DOM
7. 2026-06-02
   days on market $239,900 Active 53 DOM
8. 2026-06-01
   days on market $239,900 Active 52 DOM
9. 2026-05-31
   days on market $239,900 Active 51 DOM
10. 2026-04-10
    listed $249,900 Active 630-char remark

    Show marketing remark (630 chars)

    A Classic Baltimore Porch Front Townhome, located in a row of porch fronts. Good bones are evident throughout. The property was renovated in 2013 and could use some cosmetic updating i. e. paint. The traditional Baltimore Townhome layout has been retained. It has 2 bathrooms and 3 bedrooms. Bedroom number 3 and bathroom number 2 are located on the lower level. The floors are hardwood with inlaid trim and the bathrooms feature ceramic tile. A decent sized rear fenced yard offers additional recreational space. The most recent sale on this block, albeit for a recent renovation, was 350k. This would be ideal as a starter home

11. 2013-08-17
    historical
12. 2013-08-17
    historical
13. 2013-06-24
    listed Active
14. 2013-06-24
    listed $134,999
15. 2011-10-17
    historical
16. 2011-10-11
    soldstatus $32,500 Sold
17. 2011-10-11
    soldstatus $32,500
18. 2011-04-26
    status Contract
19. 2011-04-26
    historical
20. 2011-04-20
    listed $19,305 Active
21. 2011-04-20
    listed $19,305
22. 2010-11-23
    soldstatus $67,492
23. 2006-05-22
    soldstatus $125,000
24. 2006-05-22
    soldstatus $125,000
25. 2006-02-14
    soldstatus $77,000
26. 2006-02-04
    historical
27. 2005-11-22
    listed
28. 1983-09-07
    soldstatus $16,500

ⓘ 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: $2,609 · $217/mo
• Projected year-2 tax: $2,612 · $218/mo
• Expected delta: +$3/yr ($0/mo · 0.1%)

ⓘ 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 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,328
• − Mortgage interest: −$13,438
• − Property taxes: −$2,609
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,186
• − Management: −$2,186
• − Depreciation: −$6,979
• Taxable loss: −$1,270
• Est. tax savings @ 24.0%: +$305
• After-tax cash flow: $2,988/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): 47,465
• Household income: $89,017
• Rent vs Own: 41.5% rent · 58.5% own
• Severe rent burden: 1786.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 55% Hispanic / Latino 21% Black 16% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2% Dominican 1%
• Common ancestry: Romanian 5% Lithuanian 2% Italian 1%
• Foreign-born: 17% · Canada, China, Vietnam
• Languages at home: 76% English-only · Spanish 18% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -332.23%
• Current HPI: 241.284
• Rent YoY: ▲ 1.31%
• 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

+1414.5% since first listed

19 events — show timeline

• 2026-04-10 Listed $249,900 BRIGHT MLS
• 2013-08-17 Delisted — MRIS
• 2013-08-17 Listing Removed — BRIGHT MLS
• 2013-06-24 Listed — MRIS
• 2013-06-24 Listed $134,999 BRIGHT MLS
• 2011-10-17 Delisted — MRIS
• 2011-10-11 Sold (MLS) $32,500 BRIGHT MLS
• 2011-10-11 Sold (MLS) $32,500 MRIS
• 2011-04-26 Pending — MRIS
• 2011-04-26 Listing Removed — BRIGHT MLS
• 2011-04-20 Listed $19,305 MRIS
• 2011-04-20 Listed $19,305 BRIGHT MLS
• 2010-11-23 Sold (Public Records) $67,492 Public Records
• 2006-05-22 Sold (Public Records) $125,000 Public Records
• 2006-05-22 Sold (Public Records) $125,000 Public Records
• 2006-02-14 Sold (Public Records) $77,000 Public Records
• 2006-02-04 Delisted — MRIS
• 2005-11-22 Listed — MRIS
• 1983-09-07 Sold (Public Records) $16,500 Public Records

Property tax history

-0.5%/yr

Latest (2025): $2,609 · +3.4% YoY. Source: county tax records.