1217 Division St · Baltimore, MD 21217

$129,900

4 bd · 2.5 ba · 1,428 sqft · Townhouse public records · 60 Days on market

Built 1920 $91/sqft · 28% below area Est $220k · 41% under

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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

Now is your chance to secure a remodeled, turnkey, occupied rental property with an impressive 7+ YEAR TENANCY, $1,516 monthly rent paid entirely by a subsidized program (that’s $18,192 annually), and outstanding future flip potential with recent sales supporting a $240K ARV. This home spans four levels and showcases thoughtful updates throughout, including LVP flooring, updated kitchen, upgraded appliances, modern light fixtures, and remodeled bathrooms. A rear deck, private fenced rear yard, and sports courts directly across the street further its desirability. The resident has lived in this home since 4/16/2019. The lease renews on a year-to-year basis and is currently in place until 4/30/2027; the resident would like to stay. The home is in compliance with its housing inspections, has an active rental license, lead free lead certificate, and a written lease holding the resident responsible for maintaining the gas and electric bill in her name. The lease also requires the resident to handle lawn care, snow and trash removal, light bulb replacement, accidental lockouts, and any repair, extermination, or citation costs resulting directly from the actions of the resident. The landlord pays water. Interested in a potential future flip? This home could achieve a sales price of $240K! See 900 Argyle Ave – similar size, also 4 bedrooms, had a finished basement, and sold for $240K on 12/31/2025. 2025 50-gallon Rheem electric water heater. Don’t let this one get away; schedule a showing today!

Key facts

• Updated kitchen
• Lvp flooring
• Upgraded appliances

Tags

• LVP FLOORING
• UPDATED KITCHEN
• UPGRADED APPLIANCES
• MODERN LIGHT FIXTURES
• REMODELED BATHROOMS
• REAR DECK

🏷️ Possibly a rental listed for sale. The $129,900 price doesn't fit this home's estimated sale value (~$219,560) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath townhouse listed at $130k.

Deal economics

• At list price, monthly cash flow is $621 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.0% 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: 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); 334 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• At $2,027/mo this rent would consume 63% 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 $898 of loan paydown is wiped out by about $4k 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 $36k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $108k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $126,003 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.56% ✓
• Cap rate: 12.03%
• Cash-on-cash: 20.49%
• DSCR: 1.91
• GRM: 5.3

CMA / ARV

• ARV (median comp): $219,560
• List price: $129,900
• Delta: -40.84%
• 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
1013 Myrtle Ave	0.27mi	3/2.5 (-1)	1,440 (+1%)	3mo	$185,000	$128	78
706 Brune St	0.33mi	4/2.5	1,428 (0%)	9mo	$182,500	$128	77
605 N Fremont Ave N	0.39mi	3/3.0 (-1)	1,440 (+1%)	0mo	$185,000	$128	73
1407 Jordan St	0.35mi	3/3.0 (-1)	1,400 (-2%)	5mo	$425,500	$304	69
1318 Division St	0.07mi	3/1.0 (-1)	1,300 (-9%)	8mo	$32,000	$25	65
730 Murphy Ln	0.42mi	3/3.5 (-1)	1,408 (-1%)	10mo	$300,000	$213	60
2115 Mcculloh St	0.68mi	3/1.5 (-1)	1,350 (-6%)	4mo	$77,000	$57	47
1306 Rutter St	0.59mi	3/1.0 (-1)	1,312 (-8%)	5mo	$290,000	$221	44
Park Ave	0.52mi	3/3.5 (-1)	1,600 (+12%)	6mo	$375,990	$235	41
116 Violet Hill White Way	0.70mi	3/3.5 (-1)	1,575 (+10%)	2mo	$245,000	$156	39
831 Lennox St	0.74mi	3/3.5 (-1)	1,600 (+12%)	3mo	$363,740	$227	34
740 Watts St Unit CLARENDON 3ST SPEC	0.72mi	3/3.5 (-1)	1,600 (+12%)	10mo	$402,555	$252	29

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: 17.1%
• Equity multiple: 1.72×
• Total profit: $26,254
• Equity at exit: $19,369

10-year hold

• IRR: 28.2%
• Equity multiple: 3.97×
• Total profit: $108,042
• Equity at exit: $11,231

Cash invested: $36,372 (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: 334
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $2,027 high
• Mortgage (P&I): −$681
• Tax from tax record: −$245 /mo · $2,936/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$426
• Net cashflow: $621

Break-even live

Break-even rent $1,241

Max offer price $129,900

Occupancy floor 64%

Sensitivity live

Price	-10% $695	-5% $658	+0% $621	+5% $584	+10% $547
Rent	-10% $461	-5% $541	+0% $621	+5% $701	+10% $781
Rate	-1.0pp $686	-0.5pp $654	base $621	+0.5pp $587	+1.0pp $553

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
910 N Arlington Ave Unit 2 Baltimore, MD	4.0	2.0	1220	$1,850	$1.52	25d	1	0.39mi
628 N Eutaw St Baltimore, MD	1.0–3.0	1.0–2.0	824	$1,854	$2.25	3d	6	0.49mi
1049 Brantley Ave Unit 2 Baltimore, MD	3.0	1.0	1200	$1,350	$1.12	25d	1	0.49mi
1931 McCulloh St Unit 1 Baltimore, MD	3.0	1.0	1000	$1,500	$1.50	44d	1	0.56mi
900 Cathedral St Baltimore, MD	3.0	1.0	902	$2,699	$2.99	3d	4	0.61mi
2028 Druid Hill Ave Baltimore, MD	3.0	2.5	1437	$1,799	$1.25	12d	1	0.61mi
2028 Druid Hill Ave Unit 1 Baltimore, MD	3.0	2.5	1437	$1,750	$1.22	3d	1	0.61mi
1315 Presstman St Baltimore, MD	4.0	2.0	1700	$2,000	$1.18	44d	1	0.66mi
834 N Stricker St Baltimore, MD	4.0	1.0	1200	$1,500	$1.25	21d	1	0.70mi
734 Watts St Baltimore, MD	3.0	3.5	1720	$2,900	$1.69	44d	1	0.71mi
815 Lennox St Baltimore, MD	3.0	3.5	1600	$2,790	$1.74	25d	1	0.73mi
101 N Schroeder St Baltimore, MD	3.0	1.0–2.0	1037	$3,185	$3.07	3d	12	0.78mi
1613 Riggs Ave Baltimore, MD	3.0	2.5	1800	$1,800	$1.00	25d	1	0.79mi
1509 Edmondson Ave #1 Baltimore, MD	3.0	2.0	1600	$2,275	$1.42	25d	1	0.79mi
1205 Clendenin St Baltimore, MD	3.0	1.5	1560	$800	$0.51	25d	1	0.83mi
1301 Saint Paul St Baltimore, MD	3.0	1.0–3.0	1050	$2,399	$2.28	44d	1	0.83mi
519 Sanford Pl Baltimore, MD	3.0	1.0	1300	$1,650	$1.27	17d	1	0.83mi
300 W Fayette St Baltimore, MD	3.0	1.0–3.0	1267	$2,250	$1.78	4d	9	0.86mi
103 E Mt Royal Ave Baltimore, MD	1.0–3.0	1.0–2.0	850	$2,624	$3.09	2d	17	0.87mi
804 Hollins St Unit 1 Baltimore, MD	3.0	2.0	1800	$2,700	$1.50	5d	1	0.88mi
1625 Edmondson Ave Unit 2 Baltimore, MD	4.0	3.0	1500	$1,895	$1.26	13d	1	0.88mi
1625 Edmondson Ave Unit 1 Baltimore, MD	4.0	3.0	1500	$2,175	$1.45	5d	1	0.88mi
226 E Eager St Baltimore, MD	3.0	2.0	1484	$650	$0.44	44d	1	0.91mi
1516 N Mount St Baltimore, MD	3.0	1.5	1830	$1,750	$0.96	16d	1	0.92mi
1000 Hollins St Unit 1000 Hollins Baltimore, MD	3.0	2.5	1472	$2,600	$1.77	45d	1	0.94mi
2409 Francis St Baltimore, MD	3.0	1.0	1298	$1,500	$1.16	44d	1	0.96mi
1519 Penrose Ave Baltimore, MD	3.0	2.0	1200	$1,875	$1.56	44d	1	0.96mi
2401 Brookfield Ave Baltimore, MD	2.0–3.0	1.0–2.0	1102	$1,675	$1.52	25d	3	0.97mi
210 Federal St Baltimore, MD	3.0	1.0	900	$1,350	$1.50	21d	1	0.97mi
1624 Westwood Ave Baltimore, MD	3.0	2.0	1000	$1,900	$1.90	44d	1	1.00mi
913 W Lombard St Baltimore, MD	3.0	1.0	1452	$1,600	$1.10	25d	1	1.01mi
110 S Poppleton St Baltimore, MD	3.0	1.5	1800	$1,900	$1.06	44d	1	1.01mi
1914 Mosher St Unit 1914 Baltimore, MD	4.0	2.5	1200	$1,700	$1.42	44d	1	1.03mi
1616 N Fulton Ave Baltimore, MD	3.0	2.0	1620	$1,795	$1.11	5d	1	1.03mi
1806 N Mount St Baltimore, MD	3.0	3.0	1200	$1,700	$1.42	21d	1	1.03mi
2511 Madison Ave #2 Baltimore, MD	3.0	1.0	1100	$1,650	$1.50	44d	1	1.04mi
1729 N Fulton Ave Baltimore, MD	3.0	2.0	1081	$1,795	$1.66	44d	1	1.06mi
1515 Retreat St Baltimore, MD	3.0	2.0	1098	$1,800	$1.64	25d	1	1.06mi
1507 Retreat St Unit 1 Baltimore, MD	3.0	3.0	1098	$2,500	$2.28	44d	1	1.06mi
1111 W Lombard St Baltimore, MD	3.0	1.0	1200	$1,295	$1.08	5d	1	1.06mi

Listing history 18 events

1. 2026-06-21
   days on market $129,900 Active 60 DOM
2. 2026-06-18
   days on market $129,900 Active 57 DOM
3. 2026-06-17
   days on market $129,900 Active 56 DOM
4. 2026-06-16
   days on market $129,900 Active 55 DOM
5. 2026-06-15
   days on market $129,900 Active 54 DOM
6. 2026-06-13
   days on market $129,900 Active 52 DOM
7. 2026-06-09
   days on market $129,900 Active 48 DOM
8. 2026-06-08
   days on market $129,900 Active 47 DOM
9. 2026-06-07
   days on market $129,900 Active 46 DOM
10. 2026-06-04
    days on market $129,900 Active 43 DOM
11. 2026-06-03
    days on market $129,900 Active 42 DOM
12. 2026-06-02
    days on market $129,900 Active 41 DOM
13. 2026-06-01
    days on market $129,900 Active 40 DOM
14. 2026-05-31
    days on market $129,900 Active 39 DOM
15. 2026-04-22
    listed $129,900 Active 1530-char remark

    Show marketing remark (1530 chars)

    Now is your chance to secure a remodeled, turnkey, occupied rental property with an impressive 7+ YEAR TENANCY, $1,516 monthly rent paid entirely by a subsidized program (that’s $18,192 annually), and outstanding future flip potential with recent sales supporting a $240K ARV. This home spans four levels and showcases thoughtful updates throughout, including LVP flooring, updated kitchen, upgraded appliances, modern light fixtures, and remodeled bathrooms. A rear deck, private fenced rear yard, and sports courts directly across the street further its desirability. The resident has lived in this home since 4/16/2019. The lease renews on a year-to-year basis and is currently in place until 4/30/2027; the resident would like to stay. The home is in compliance with its housing inspections, has an active rental license, lead free lead certificate, and a written lease holding the resident responsible for maintaining the gas and electric bill in her name. The lease also requires the resident to handle lawn care, snow and trash removal, light bulb replacement, accidental lockouts, and any repair, extermination, or citation costs resulting directly from the actions of the resident. The landlord pays water. Interested in a potential future flip? This home could achieve a sales price of $240K! See 900 Argyle Ave – similar size, also 4 bedrooms, had a finished basement, and sold for $240K on 12/31/2025. 2025 50-gallon Rheem electric water heater. Don’t let this one get away; schedule a showing today!

16. 2020-12-15
    soldstatus $108,500
17. 2014-02-25
    soldstatus $112,500
18. 1993-02-03
    soldstatus $10,000

ⓘ 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: $2,936 · $245/mo
• Projected year-2 tax: $2,936 · $245/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 · 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: $24,319
• − Mortgage interest: −$7,276
• − Property taxes: −$2,936
• − Insurance: −$650
• − Repairs & maintenance: −$1,945
• − Management: −$1,945
• − Depreciation: −$3,779
• Taxable income: $5,787
• Est. tax owed @ 24.0%: −$1,389
• After-tax cash flow: $6,063/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

+1199.0% since first listed

4 events — show timeline

• 2026-04-22 Listed $129,900 BRIGHT MLS
• 2020-12-15 Sold (Public Records) $108,500 Public Records
• 2014-02-25 Sold (Public Records) $112,500 Public Records
• 1993-02-03 Sold (Public Records) $10,000 Public Records

Property tax history

+7.8%/yr

Latest (2025): $2,936 · +25.0% YoY. Source: county tax records.