3604 7th St · Baltimore, MD 21225

$65,000

2 bd · 2.0 ba · 1,120 sqft · Townhouse public records · 105 Days on market

Built 1944 1,306 sqft lot $58/sqft · 57% below area ↓ 58% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

ONLINE AUCTION: This auction takes place on the Ashland Auction Group website bidding platform. Bidding begins 5/13/2026 @ 10:00 AM. Bidding ends 5/15/2026 @ 12:00 PM. The list price is the suggested opening bid. Deposit: $5,000. This two-story townhouse is located in the Brooklyn neighborhood of Baltimore City. Residents can enjoy the nearby facilities/attractions such as the Arundel Village Park, Farring-Baybrook Recreation Center, and Brooklyn Park. The property is occupied. The area provides easy access to the major traffic arteries, Potee St and Interstate 895B, connecting to other parts of the city.

Key facts

• Built 1944
• Listed 105 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $65k.

Deal economics

• At list price, monthly cash flow is $755 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $59k (9.0% below list) — sets the bar for market timing.
• Cap rate 20.2% 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 (+4.1%/yr); 165 active listings in the ZIP; 34 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 36% of the median local income ($54k/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 $449 of loan paydown is wiped out by about $2k 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 + 4.1% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 105 days — a 9% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 17y ago; this cycle's ask is 86% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1944 — 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 $59,150 (9.0% below list)

Questions for the listing agent

1. It's been on market 105 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1944 — 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. 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. 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.
9. 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.
10. 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: 2.48% ✓
• Cap rate: 20.24%
• Cash-on-cash: 49.80%
• DSCR: 3.22
• GRM: 3.4

CMA / ARV

• ARV (median comp): $149,688
• List price: $65,000
• Delta: -56.58%
• 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
3712 8th St	0.12mi	2/1.5	1,088 (-3%)	0mo	$60,000	$55	88
4009 8th St	0.27mi	2/2.5	1,088 (-3%)	2mo	$223,000	$205	79
3507 4th St	0.31mi	2/1.0	1,102 (-2%)	2mo	$50,000	$45	78
916 Jack St	0.30mi	3/1.5 (+1)	1,116 (-0%)	1mo	$145,000	$130	77
3948 Brooklyn Ave	0.29mi	3/1.5 (+1)	1,080 (-4%)	0mo	$90,000	$83	73
3541 3rd St	0.35mi	2/1.5	1,190 (+6%)	2mo	$167,500	$141	70
3731 10th St	0.32mi	2/1.0	1,041 (-7%)	3mo	$125,000	$120	67
28 Talbott St	0.59mi	3/1.0 (+1)	1,120 (0%)	2mo	$80,000	$71	62
415 Cambria St	0.21mi	3/1.0 (+1)	968 (-14%)	3mo	$76,000	$79	56
3916 2nd St	0.50mi	3/2.0 (+1)	1,024 (-9%)	2mo	$247,000	$241	55
4132 Doris Ave	0.42mi	3/1.5 (+1)	992 (-11%)	1mo	$215,000	$217	53
4144 Townsend Ave	0.48mi	3/1.5 (+1)	992 (-11%)	3mo	$90,100	$91	49

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 · 4.08% rent growth · sell at horizon

5-year hold

• IRR: 48.8%
• Equity multiple: 3.17×
• Total profit: $39,415
• Equity at exit: $9,692

10-year hold

• IRR: 54.9%
• Equity multiple: 6.71×
• Total profit: $103,970
• Equity at exit: $5,620

Cash invested: $18,200 (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 21225

• Home prices YoY: -31.9%
• Rents YoY: 4.1%
• Active inventory: 165
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,612 high
• Mortgage (P&I): −$341
• Tax from tax record: −$150 /mo · $1,804/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$339
• Net cashflow: $755

Break-even live

Break-even rent $656

Max offer price $65,000

Occupancy floor 48%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3840 8th St Brooklyn, MD	3.0	1.5	1088	$1,606	$1.48	4d	1	0.16mi
507 Washburn Ave Brooklyn, MD	3.0	1.5	1024	$2,500	$2.44	4d	1	0.17mi
507 Washburn Ave Brooklyn, MD	3.0	1.5	1024	$2,500	$2.44	20d	1	0.17mi
507 Washburn Ave Brooklyn, MD	3.0	1.5	1024	$2,500	$2.44	23d	1	0.17mi
3528 6th St Brooklyn, MD	2.0	2.5	1060	$1,500	$1.42	17d	1	0.19mi
603 Maude Ave Unit A Baltimore, MD	1.0	1.0	1294	$950	$0.73	4d	1	0.21mi
837 E Jeffrey St Unit 2 Baltimore, MD	1.0	1.0	1116	$900	$0.81	43d	1	0.23mi
837 E Jeffrey St Apt 1 Baltimore, MD	1.0	1.0	1116	$900	$0.81	17d	1	0.23mi
3569 4th St Brooklyn, MD	2.0	1.5	1256	$1,200	$0.96	17d	1	0.28mi
3428 7th St Unit B Baltimore, MD	1.0	1.0	1294	$1,150	$0.89	43d	1	0.28mi
3826 10th St Unit Entire House Baltimore, MD	3.0	2.0	1110	$2,400	$2.16	23d	1	0.30mi
3828 10th St Brooklyn, MD	3.0	2.0	1215	$2,350	$1.93	43d	1	0.30mi
520 Baltic Ave Unit B Baltimore, MD	1.0	1.0	800	$1,050	$1.31	43d	1	0.35mi
3513 Horton Ave Brooklyn, MD	3.0	1.0	1020	$1,600	$1.57	17d	1	0.36mi
1049 E Patapsco Ave Unit a Baltimore, MD	2.0	1.0	748	$1,257	$1.68	43d	1	0.37mi
3816 W Bay Ave Unit 1 Baltimore, MD	2.0	1.0	1364	$1,155	$0.85	3d	1	0.38mi
4206 Audrey Ave Brooklyn, MD	3.0	3.0	1104	$1,950	$1.77	23d	1	0.43mi
4206 Audrey Ave Brooklyn, MD	2.0	2.0	1104	$1,275	$1.15	43d	1	0.43mi
4201 Audrey Ave Unit 1 Brooklyn, MD	2.0	1.0	1400	$1,350	$0.96	23d	1	0.44mi
1305 E Patapsco Ave Brooklyn, MD	3.0	1.5	930	$1,650	$1.77	4d	1	0.50mi
4207 3rd St Unit 3 Brooklyn, MD	2.0	1.0	850	$1,595	$1.88	4d	1	0.55mi
4400 4th St Unit BASEMENT Baltimore, MD	2.0	1.0	925	$1,350	$1.46	43d	1	0.56mi
1353 Cambria St Brooklyn, MD	3.0	2.0	986	$1,600	$1.62	17d	1	0.56mi
49 Talbott St Brooklyn, MD	2.0	1.0	1300	$1,300	$1.00	23d	1	0.66mi
1517 Sycamore St Curtis Bay, MD	3.0	1.5	1210	$1,999	$1.65	23d	1	0.69mi
5215 Wasena Ave Brooklyn, MD	3.0	1.0	1030	$1,650	$1.60	43d	1	0.76mi
5227 Patrick Henry Dr Brooklyn, MD	2.0	1.0	736	$1,326	$1.80	21d	1	0.83mi
1 Ballman Ct Unit 2 Baltimore, MD	2.0	1.0	700	$1,250	$1.79	43d	1	0.84mi
1628 Plum St Apt B (CB) Baltimore, MD	1.0	1.0	800	$850	$1.06	23d	1	0.85mi
217 W Edgevale Rd Brooklyn, MD	3.0	1.5	992	$1,800	$1.81	23d	1	0.85mi
1411 Filbert St Unit 2 Baltimore, MD	2.0	1.0	1428	$1,300	$0.91	43d	1	0.87mi
303 Arden Rd W Brooklyn, MD	3.0	2.0	1388	$2,500	$1.80	17d	1	0.93mi
130 Reedbird Ave Brooklyn, MD	2.0	1.0	1152	$1,700	$1.48	23d	1	1.27mi
511 Seagull Ave Brooklyn, MD	2.0	1.0	756	$1,550	$2.05	23d	1	1.27mi

Listing history 42 events

1. 2026-06-18
   days on market $65,000 Active 105 DOM
2. 2026-06-17
   days on market $65,000 Active 104 DOM
3. 2026-06-16
   days on market $65,000 Active 103 DOM
4. 2026-06-15
   days on market $65,000 Active 102 DOM
5. 2026-06-13
   days on market $65,000 Active 100 DOM
6. 2026-06-09
   days on market $65,000 Active 96 DOM
7. 2026-06-08
   days on market $65,000 Active 95 DOM
8. 2026-06-07
   days on market $65,000 Active 94 DOM
9. 2026-06-04
   days on market $65,000 Active 91 DOM
10. 2026-06-03
    days on market $65,000 Active 90 DOM
11. 2026-06-02
    days on market $65,000 Active 89 DOM
12. 2026-06-01
    days on market $65,000 Active 88 DOM
13. 2026-05-31
    days on market $65,000 Active 87 DOM
14. 2026-03-05
    listed $35,000 Active 612-char remark

    Show marketing remark (612 chars)

    ONLINE AUCTION: This auction takes place on the Ashland Auction Group website bidding platform. Bidding begins 5/13/2026 @ 10:00 AM. Bidding ends 5/15/2026 @ 12:00 PM. The list price is the suggested opening bid. Deposit: $5,000. This two-story townhouse is located in the Brooklyn neighborhood of Baltimore City. Residents can enjoy the nearby facilities/attractions such as the Arundel Village Park, Farring-Baybrook Recreation Center, and Brooklyn Park. The property is occupied. The area provides easy access to the major traffic arteries, Potee St and Interstate 895B, connecting to other parts of the city.

15. 2025-08-03
    historical
16. 2025-06-05
    listed $45,000 Active
17. 2015-03-04
    soldstatus $58,500
18. 2015-02-25
    soldstatus $58,500 Sold
19. 2015-02-25
    soldstatus $58,500
20. 2015-02-03
    status Contingent (No Kick Out)
21. 2015-01-15
    price $59,900
22. 2015-01-15
    historical
23. 2014-10-07
    listed $69,900 Active
24. 2014-10-07
    listed $59,900
25. 2010-12-31
    historical
26. 2010-12-31
    historical Expired
27. 2010-10-27
    status Active
28. 2010-10-01
    historical
29. 2010-09-20
    status Active
30. 2010-09-20
    historical Expired
31. 2010-09-19
    status Active
32. 2010-09-02
    historical Expired
33. 2010-07-14
    price
34. 2010-04-22
    price Active
35. 2010-04-22
    status Active
36. 2010-03-27
    historical Expired
37. 2010-03-12
    price
38. 2009-11-12
    price
39. 2009-11-02
    price
40. 2009-09-27
    listed Active
41. 2009-09-27
    listed $89,900
42. 2007-10-12
    soldstatus $84,000

ⓘ 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: $1,804 · $150/mo
• Projected year-2 tax: $1,804 · $150/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 ≥102°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: $19,347
• − Mortgage interest: −$3,641
• − Property taxes: −$1,804
• − Insurance: −$325
• − Repairs & maintenance: −$1,548
• − Management: −$1,548
• − Depreciation: −$1,891
• Taxable income: $8,590
• Est. tax owed @ 24.0%: −$2,062
• After-tax cash flow: $7,003/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: Anne Arundel County · 535,653 people
• City population: 588,727
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 34,062
• Household income: $54,020
• Rent vs Own: 50.4% rent · 49.6% own
• Severe rent burden: 1440.0

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 0.68)
• Race & ethnicity: Black 42% White 32% Hispanic / Latino 20% Two or more races 8% Native American 3% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Romanian 2% Lithuanian 1% Iranian 1%
• Foreign-born: 12% · Canada, China
• Languages at home: 81% English-only · Spanish 16% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -119.44%
• Current HPI: 254.5089
• Rent YoY: ▲ 4.08%
• 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

-58.3% since first listed

29 events — show timeline

• 2026-03-05 Listed $35,000 BRIGHT MLS
• 2025-08-03 Listing Removed — BRIGHT MLS
• 2025-06-05 Listed $45,000 BRIGHT MLS
• 2015-03-04 Sold (Public Records) $58,500 Public Records
• 2015-02-25 Sold (MLS) $58,500 BRIGHT MLS
• 2015-02-25 Sold (MLS) $58,500 MRIS
• 2015-02-03 Pending — MRIS
• 2015-01-15 Price Changed $59,900 MRIS
• 2015-01-15 Listing Removed — BRIGHT MLS
• 2014-10-07 Listed $69,900 MRIS
• 2014-10-07 Listed $59,900 BRIGHT MLS
• 2010-12-31 Listing Removed — BRIGHT MLS
• 2010-12-31 Delisted — MRIS
• 2010-10-27 Relisted — MRIS
• 2010-10-01 Delisted — MRIS
• 2010-09-20 Relisted — MRIS
• 2010-09-20 Delisted — MRIS
• 2010-09-19 Relisted — MRIS
• 2010-09-02 Delisted — MRIS
• 2010-07-14 Price Changed — MRIS
• 2010-04-22 Relisted — MRIS
• 2010-04-22 Price Changed — MRIS
• 2010-03-27 Delisted — MRIS
• 2010-03-12 Price Changed — MRIS
• 2009-11-12 Price Changed — MRIS
• 2009-11-02 Price Changed — MRIS
• 2009-09-27 Listed — MRIS
• 2009-09-27 Listed $89,900 BRIGHT MLS
• 2007-10-12 Sold (Public Records) $84,000 Public Records

Property tax history

+0.9%/yr

Latest (2025): $1,804 · +4.5% YoY. Source: county tax records.