4728 Williston St · Baltimore, MD 21229

$190,000

2 bd · 1.0 ba · 1,120 sqft · Townhouse public records · 71 Days on market

Built 1958 0.25 ac lot $170/sqft · at area comps Est $197k · at est.

---

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 +12.6/30.0
• ARV discount +9.1/15.0
• DSCR +3.8/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• 1% rule +3.7/10.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to your new home. This townhouse has everything you need, come take a look. Starting with the spacious living room, plenty of sunlight coming through new windows throughout the whole house. Dining room, opens to the kitchen, making for inviting meals with family and friends. The kitchen has stainless steel appliances, gas stove, plenty of cabinet space. Walk out of the kitchen onto the lovely new deck, which is covered and has trex flooring. This home also has hardwood floors throughout. Upstairs you have 2 bedrooms, yes 2, however plenty of room and closet space and full updated bath. Last but not least, the basement features room for entertainment, washer and dryer and also a half bathroom. From the basement you can easily access the backyard which is fenced in and has a parking pad for additional parking. Come see your new home, don't wait!

Key facts

• Built 1958
• Listed 71 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $190k.

Deal economics

• At list price, monthly cash flow is $-24 ($-289/yr) — negative.
• To cash-flow at today's rent, offer at most $186k (2.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $164k (13.4% below list).
• Recommended offer: $164k (13.4% below list) — sets the bar for 1% rule.

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 (+5.4%/yr); 252 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); 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• This rent runs 33% of the median local income ($60k/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 $1k of loan paydown is wiped out by about $6k 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 71 days — a 6% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y 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 $129k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 24% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $164,488 (13.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
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: 0.87% ✗
• Cap rate: 6.14%
• Cash-on-cash: -0.54%
• DSCR: 0.98
• GRM: 9.6

CMA / ARV

• ARV (median comp): $196,831
• List price: $190,000
• Delta: -3.47%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
708 Woodington Rd S	0.33mi	2/1.5	1,120 (0%)	1mo	$100,000	$89	82
4413 Parkton St	0.32mi	2/1.5	1,120 (0%)	3mo	$130,000	$116	80
4441 Eldone Rd	0.29mi	3/1.5 (+1)	1,120 (0%)	4mo	$165,000	$147	76
586 Lucia Ave	0.22mi	3/1.5 (+1)	1,178 (+5%)	3mo	$175,000	$149	72
5141 Stafford Rd	0.42mi	3/1.5 (+1)	1,140 (+2%)	0mo	$120,100	$105	70
4865 Melbourne Rd	0.23mi	2/2.0	1,232 (+10%)	2mo	$214,000	$174	67
377 Marydell Rd	0.46mi	2/1.0	1,040 (-7%)	2mo	$145,000	$139	65
5212 Fredcrest Rd	0.61mi	3/1.5 (+1)	1,120 (0%)	0mo	$195,000	$174	64
642 Queensgate Rd	0.14mi	3/2.0 (+1)	1,260 (+12%)	0mo	$234,444	$186	64
38 Hillvale Rd	0.72mi	3/1.0 (+1)	1,224 (+9%)	3mo	$160,000	$131	43
48 Hillvale Rd	0.73mi	3/1.5 (+1)	1,224 (+9%)	2mo	$180,000	$147	42
40 Hillvale Rd	0.72mi	3/2.0 (+1)	1,224 (+9%)	1mo	$230,000	$188	41

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: -14.5%
• Equity multiple: 0.47×
• Total profit: $-28,258
• Equity at exit: $28,330

10-year hold

• IRR: -2.3%
• Equity multiple: 0.83×
• Total profit: $-9,081
• Equity at exit: $16,428

Cash invested: $53,200 (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: 252
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,645 high
• Mortgage (P&I): −$996
• Tax from tax record: −$248 /mo · $2,976/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $-24

Break-even live

Break-even rent $1,675

Max offer price $185,746

Occupancy floor 96%

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
565 Brisbane Rd Baltimore, MD	2.0	2.0	1146	$1,675	$1.46	24d	1	0.06mi
586 Lucia Ave Baltimore, MD	3.0	1.5	1178	$2,100	$1.78	18d	1	0.20mi
501 Hazlett Ave Baltimore, MD	2.0–3.0	1.5–2.0	1044	$1,395	$1.34	2d	8	0.21mi
613 S Beechfield Ave Baltimore, MD	3.0	1.5	1080	$1,950	$1.81	43d	1	0.21mi
500 Lucia Ave Baltimore, MD	3.0	2.0	1472	$2,100	$1.43	16d	1	0.23mi
627 Lucia Ave Baltimore, MD	3.0	1.0	892	$1,750	$1.96	24d	1	0.25mi
4431 Eldone Rd Baltimore, MD	3.0	2.0	896	$2,000	$2.23	24d	1	0.29mi
402 Colleen Rd Baltimore, MD	1.0–2.0	1.0	910	$1,450	$1.59	2d	11	0.30mi
738 Yale Ave Baltimore, MD	2.0	1.0	1346	$1,900	$1.41	24d	1	0.34mi
751 Yale Ave Baltimore, MD	3.0	1.5	1024	$1,750	$1.71	43d	1	0.36mi
526 Random Rd Unit 1ST FLOOR Baltimore, MD	1.0	1.0	1140	$1,250	$1.10	43d	1	0.40mi
4802 Frederick Ave Baltimore, MD	1.0	1.0	1400	$1,275	$0.91	24d	1	0.46mi
5147 Frederick Ave Baltimore, MD	3.0	2.0	1216	$1,950	$1.60	3d	1	0.48mi
4301 Parkton St Baltimore, MD	1.0–3.0	1.0	730	$1,264	$1.73	43d	1	0.52mi
19 S Tremont Rd Baltimore, MD	3.0	1.0	1350	$1,850	$1.37	43d	1	0.55mi
2 S Tremont Rd Baltimore, MD	3.0	2.0	1450	$1,800	$1.24	11d	1	0.59mi
2 S Tremont Rd Baltimore, MD	3.0	2.0	1450	$1,800	$1.24	24d	1	0.59mi
131 N Bend Rd Unit 131-1B Baltimore, MD	2.0	1.5	910	$1,225	$1.35	22d	1	0.71mi
4601 Pen Lucy Rd Unit 4615-G Baltimore, MD	2.0	1.0	798	$1,200	$1.50	22d	1	0.71mi
4601 Pen Lucy Rd Unit 4718-F Baltimore, MD	2.0	1.0	879	$1,225	$1.39	2d	1	0.72mi
4601 Pen Lucy Rd Unit 4714-B Baltimore, MD	2.0	1.0	730	$1,205	$1.65	15d	1	0.72mi
4601 Pen Lucy Rd Unit 103-H Baltimore, MD	2.0	1.0	798	$1,315	$1.65	24d	1	0.72mi
5440 Frederick Ave Baltimore, MD	1.0	1.0	800	$1,350	$1.69	24d	1	0.73mi
219 Atholgate Ln Baltimore, MD	1.0–3.0	1.0–1.5	814	$1,300	$1.60	3d	2	0.75mi
220 Stonecroft Rd Unit 230-D Baltimore, MD	2.0	1.5	900	$1,395	$1.55	22d	1	0.77mi
220 Stonecroft Rd Unit 232-I Baltimore, MD	2.0	1.5	900	$1,295	$1.44	18d	1	0.77mi
304 Collins Ave Unit 1 Baltimore, MD	1.0	1.0	845	$1,600	$1.89	43d	1	0.78mi
304 Collins Ave Unit 2 Baltimore, MD	3.0	1.0	1016	$2,100	$2.07	43d	1	0.78mi
5364 Jamestowne Ct Baltimore, MD	3.0	1.0–1.5	787	$1,590	$2.02	4d	13	0.80mi
4700 Gateway Ter Arbutus, MD	1.0–3.0	1.0	728	$1,336	$1.84	43d	1	0.84mi
2 N Woodington Rd Baltimore, MD	1.0–2.0	1.0	738	$1,335	$1.81	3d	5	0.90mi
2 S Woodington Rd Baltimore, MD	2.0	1.0	856	$1,160	$1.36	15d	1	0.90mi
4018 Massachusetts Ave Baltimore, MD	3.0	1.0	1050	$1,400	$1.33	24d	1	0.91mi
212 S Loudon Ave Baltimore, MD	3.0	1.5	1310	$1,550	$1.18	43d	1	0.93mi
201 S Symington Ave Catonsville, MD	1.0–2.0	1.0	788	$1,519	$1.93	1d	13	0.94mi
1 Summit Hill Ct Unit T-2 Baltimore, MD	2.0	2.0	1009	$1,900	$1.88	43d	1	0.94mi
111 Upmanor Rd Baltimore, MD	3.0	1.5	1224	$2,163	$1.77	43d	1	0.95mi
6300 Mount Ridge Rd Unit A Catonsville, MD	2.0	1.0	1100	$1,750	$1.59	43d	1	0.98mi
6316 Frederick Rd Unit 2 Catonsville, MD	1.0	1.0	1498	$1,150	$0.77	2d	1	1.00mi
4407 Leeds Ave Baltimore, MD	1.0	1.0	800	$1,300	$1.62	43d	1	1.02mi

Listing history 19 events

1. 2026-06-18
   days on market $190,000 Active 71 DOM
2. 2026-06-18
   pricestatus $190,000 Active 70 DOM
3. 2026-06-08
   status $199,900 Pending 70 DOM
4. 2026-06-07
   days on market $199,900 Active 70 DOM
5. 2026-06-04
   days on market $199,900 Active 67 DOM
6. 2026-06-03
   days on market $199,900 Active 66 DOM
7. 2026-06-02
   days on market $199,900 Active 65 DOM
8. 2026-06-01
   days on market $199,900 Active 64 DOM
9. 2026-05-31
   days on market $199,900 Active 63 DOM
10. 2026-03-29
    listed $199,900 Active 863-char remark

    Show marketing remark (863 chars)

    Welcome to your new home. This townhouse has everything you need, come take a look. Starting with the spacious living room, plenty of sunlight coming through new windows throughout the whole house. Dining room, opens to the kitchen, making for inviting meals with family and friends. The kitchen has stainless steel appliances, gas stove, plenty of cabinet space. Walk out of the kitchen onto the lovely new deck, which is covered and has trex flooring. This home also has hardwood floors throughout. Upstairs you have 2 bedrooms, yes 2, however plenty of room and closet space and full updated bath. Last but not least, the basement features room for entertainment, washer and dryer and also a half bathroom. From the basement you can easily access the backyard which is fenced in and has a parking pad for additional parking. Come see your new home, don't wait!

11. 2026-03-29
    historical $199,900 863-char remark

    Show marketing remark (863 chars)

    Welcome to your new home. This townhouse has everything you need, come take a look. Starting with the spacious living room, plenty of sunlight coming through new windows throughout the whole house. Dining room, opens to the kitchen, making for inviting meals with family and friends. The kitchen has stainless steel appliances, gas stove, plenty of cabinet space. Walk out of the kitchen onto the lovely new deck, which is covered and has trex flooring. This home also has hardwood floors throughout. Upstairs you have 2 bedrooms, yes 2, however plenty of room and closet space and full updated bath. Last but not least, the basement features room for entertainment, washer and dryer and also a half bathroom. From the basement you can easily access the backyard which is fenced in and has a parking pad for additional parking. Come see your new home, don't wait!

12. 2006-08-28
    soldstatus $129,000
13. 2006-08-10
    soldstatus $129,000 362-char remark

    Show marketing remark (362 chars)

    Tilt out dual pane windows. Furnace/AC/electric box recently replaced. Hardwood through out. Knooty pine clubroom with adjoining additional kitchen area. Covered front and back porch. Concrete parking pad and fenced rear yard with shed. Back on Market , pending release. Seller will pay $2000.00 closing for 30 day settlement. Home inspection for buyer use only.

14. 2006-07-26
    historical 362-char remark

    Show marketing remark (362 chars)

    Tilt out dual pane windows. Furnace/AC/electric box recently replaced. Hardwood through out. Knooty pine clubroom with adjoining additional kitchen area. Covered front and back porch. Concrete parking pad and fenced rear yard with shed. Back on Market , pending release. Seller will pay $2000.00 closing for 30 day settlement. Home inspection for buyer use only.

15. 2006-02-16
    listed $127,500 362-char remark

    Show marketing remark (362 chars)

    Tilt out dual pane windows. Furnace/AC/electric box recently replaced. Hardwood through out. Knooty pine clubroom with adjoining additional kitchen area. Covered front and back porch. Concrete parking pad and fenced rear yard with shed. Back on Market , pending release. Seller will pay $2000.00 closing for 30 day settlement. Home inspection for buyer use only.

16. 2004-12-28
    soldstatus $84,900
17. 2004-11-18
    soldstatus $84,900
18. 2004-10-28
    historical
19. 2004-10-03
    listed $89,900

ⓘ 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: $2,976 · $248/mo
• Projected year-2 tax: $2,976 · $248/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 7/10 Severe 7 d/yr ≥103°F today · 16 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: $19,739
• − Mortgage interest: −$10,643
• − Property taxes: −$2,976
• − Insurance: −$950
• − Repairs & maintenance: −$1,579
• − Management: −$1,579
• − Depreciation: −$5,527
• Taxable loss: −$3,516
• Est. tax savings @ 24.0%: +$844
• After-tax cash flow: $555/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

+122.4% since first listed

10 events — show timeline

• 2026-03-29 Listed $199,900 BRIGHT MLS
• 2026-03-29 Coming Soon $199,900 BRIGHT MLS
• 2006-08-28 Sold (Public Records) $129,000 Public Records
• 2006-08-10 Sold (MLS) $129,000 MRIS
• 2006-07-26 Delisted — MRIS
• 2006-02-16 Listed $127,500 MRIS
• 2004-12-28 Sold (Public Records) $84,900 Public Records
• 2004-11-18 Sold (MLS) $84,900 MRIS
• 2004-10-28 Delisted — MRIS
• 2004-10-03 Listed $89,900 MRIS

Property tax history

+1.8%/yr

Latest (2025): $2,976 · +6.8% YoY. Source: county tax records.