3700 Chestle Pl · Baltimore, MD 21224

$115,000

2 bd · 1.0 ba · 800 sqft · Townhouse public records · 72 Days on market

Built 1920 $144/sqft · 23% below area Est $148k · 23% 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
• 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

Investor Special in the Heart of Highlandtown! Calling all investors and visionaries-3700 Chestle Place is your next opportunity! This end-of-row townhome is a blank slate, ready for a full renovation with the potential for 2 bedrooms and 2 bathrooms, or more with an addition. Bring your creativity and turn this property into a standout in one of Baltimore’s most vibrant and eclectic neighborhoods. House comes with construction plans for a full renovation with two story addition, found in the disclosures. Located in the heart of historic Highlandtown, the property is near an incredible mix of shops, restaurants, coffee spots, and art galleries. Enjoy easy access to community staples like Roof Top Hot local and organic market, Sally O's restaurant, Patterson Park, and the Highlandtown Gallery. Come check out Highlandtown Art Walk first Friday of each month—an evening full of music, gallery shows, and neighborhood energy starting at 5pm, and see what the neighborhood has to offer. Don’t let it slip away, schedule your tour today!

Key facts

• Full renovation
• Two story addition
• Built 1920

Tags

• FULL RENOVATION
• TWO STORY ADDITION
• HISTORIC HIGHLANDTOWN

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $115k.

Deal economics

• At list price, monthly cash flow is $654 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $108k (6.0% 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: Highlandtown Elementary/Middle #237 (math 2% / reading 6%, grade F, #814 of 860 statewide, top 95%, 726 students, 59% FRL); Baltimore Polytechnic Institute (math 71% / reading 84%, grade A-, #22 of 222 statewide, top 10%, 1,555 students, 43% FRL) — zoned schools average 51% FRL vs 79% district-wide (28 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 41% at this address vs 12% district-wide (+29 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: Rents rising (+1.3%/yr); 393 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k 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 + 1.3% rent growth), your $32k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y 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 $50k; list at $115k implies a 132% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; 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 $108,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 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. 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: 1.71% ✓
• Cap rate: 13.11%
• Cash-on-cash: 24.36%
• DSCR: 2.08
• GRM: 4.9

CMA / ARV

• ARV (median comp): $148,420
• List price: $115,000
• Delta: -22.52%
• 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
107 S Dean St	0.16mi	2/1.0	720 (-10%)	0mo	$104,000	$144	76
223 Grundy St	0.20mi	2/1.0	864 (+8%)	5mo	$150,000	$174	73
124 N Janney St	0.52mi	2/1.0	792 (-1%)	2mo	$63,800	$81	72
3516 Mount Pleasant Ave	0.20mi	2/1.0	884 (+10%)	7mo	$117,000	$132	67
228 S Haven St	0.22mi	2/2.5	720 (-10%)	7mo	$145,000	$201	61
3919 Mount Pleasant Ave	0.22mi	2/1.0	912 (+14%)	7mo	$155,000	$170	60
622 S Glover St	0.75mi	2/1.0	832 (+4%)	0mo	$195,500	$235	58
3022 Hudson St	0.55mi	2/1.0	858 (+7%)	7mo	$278,250	$324	57
933 S Belnord Ave	0.75mi	1/1.0 (-1)	766 (-4%)	1mo	$219,000	$286	52
1113 S Robinson St	0.65mi	2/1.0	912 (+14%)	1mo	$238,000	$261	46
908 S Potomac St	0.61mi	1/1.5 (-1)	890 (+11%)	2mo	$255,500	$287	44
155 N Streeper St	0.70mi	2/2.0	912 (+14%)	0mo	$220,000	$241	40

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: 15.7%
• Equity multiple: 1.62×
• Total profit: $19,806
• Equity at exit: $17,147

10-year hold

• IRR: 23.0%
• Equity multiple: 2.81×
• Total profit: $58,214
• Equity at exit: $9,943

Cash invested: $32,200 (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 21224

• Rents YoY: 1.3%
• Active inventory: 393
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,962 high
• Mortgage (P&I): −$603
• Tax from tax record: −$245 /mo · $2,941/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $654

Break-even live

Break-even rent $1,134

Max offer price $115,000

Occupancy floor 62%

Sensitivity live

Price	-10% $719	-5% $686	+0% $654	+5% $621	+10% $589
Rent	-10% $499	-5% $576	+0% $654	+5% $731	+10% $809
Rate	-1.0pp $712	-0.5pp $683	base $654	+0.5pp $624	+1.0pp $594

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: $28,750
• Closing costs: $3,450
• 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	22d	1	0.09mi
400 S Conkling St Unit 3 Baltimore, MD	1.0	1.0	700	$1,700	$2.43	45d	1	0.09mi
3905 Bank St Baltimore, MD	4.0	1.0–3.0	909	$2,365	$2.60	0d	18	0.12mi
201 S Conkling St Baltimore, MD	1.0	1.0	740	$1,500	$2.03	4d	2	0.14mi
400 S Highland Ave Unit 402 Baltimore, MD	2.0	1.0	900	$1,700	$1.89	45d	1	0.18mi
3801 Fleet St Unit 209 Baltimore, MD	1.0	1.5	814	$1,899	$2.33	45d	1	0.19mi
223 Grundy St Baltimore, MD	2.0	1.0	864	$1,450	$1.68	25d	1	0.19mi
4015 Eastern Ave Unit 2L Baltimore, MD	3.0	2.0	1100	$1,800	$1.64	45d	1	0.20mi
3232 Eastern Ave Baltimore, MD	1.0	1.5	874	$2,030	$2.32	0d	1	0.24mi
3235 Eastern Ave Unit 2FL Baltimore, MD	1.0	1.0	552	$1,650	$2.99	0d	1	0.26mi
3413 Leverton Ave Baltimore, MD	2.0	1.0	832	$1,000	$1.20	25d	1	0.29mi
3344 E Baltimore St Unit 2 Baltimore, MD	1.0	1.0	545	$1,250	$2.29	45d	1	0.38mi
3200 Fait Ave Baltimore, MD	1.0	1.0	800	$1,700	$2.12	3d	1	0.41mi
3610 Dillon St Baltimore, MD	1.0–2.0	1.0–2.0	828	$2,820	$3.41	45d	1	0.42mi
643 S Potomac St Baltimore, MD	2.0	1.0	785	$1,650	$2.10	45d	1	0.50mi
3205 Esther Pl Baltimore, MD	2.0	2.0	960	$1,850	$1.93	25d	1	0.53mi
29 N Ellwood Ave Baltimore, MD	3.0	1.5	1100	$2,395	$2.18	25d	1	0.53mi
1211 S Eaton St Unit 8038 Baltimore, MD	1.0	1.0	1037	$2,475	$2.39	18d	1	0.58mi
1211 S Eaton St Unit 6010 Baltimore, MD	1.0	1.0	774	$2,325	$3.00	23d	1	0.58mi
1211 S Eaton St Unit 7020 Baltimore, MD	1.0	1.0	832	$2,400	$2.88	25d	1	0.58mi
1211 S Eaton St Unit 8024 Baltimore, MD	1.0	1.0	627	$2,014	$3.21	45d	1	0.58mi
1211 S Eaton St Unit 8041 Baltimore, MD	1.0	1.0	768	$2,300	$2.99	25d	1	0.58mi
1211 S Eaton St Unit 6046 Baltimore, MD	1.0	1.0	774	$2,325	$3.00	18d	1	0.58mi
1211 S Eaton St Unit 5020 Baltimore, MD	1.0	1.0	832	$2,534	$3.05	45d	1	0.58mi
1211 S Eaton St Unit 5012 Baltimore, MD	1.0	1.0	774	$2,325	$3.00	25d	1	0.58mi
1211 S Eaton St Unit 6012 Baltimore, MD	1.0	1.0	774	$2,554	$3.30	23d	1	0.58mi
3518 Elliott St Baltimore, MD	3.0	2.5	1036	$2,800	$2.70	19d	1	0.58mi
3850 Boston St Baltimore, MD	2.0	1.0–2.0	854	$3,378	$3.96	0d	23	0.59mi
203 N Ellwood Ave Unit Main Baltimore, MD	2.0	2.0	880	$2,200	$2.50	25d	1	0.62mi
825 S Linwood Ave Baltimore, MD	1.0	1.0	1000	$2,150	$2.15	25d	1	0.62mi
3700 Toone St Baltimore, MD	1.0–2.0	1.0–2.0	1093	$3,218	$2.94	0d	30	0.63mi
3018 O Donnell St Unit 2R Baltimore, MD	1.0	1.0	750	$1,700	$2.27	45d	1	0.65mi
520 N Decker Ave Baltimore, MD	2.0	1.0	1000	$1,650	$1.65	45d	1	0.80mi
127 N Glover St Baltimore, MD	2.0	1.5	1110	$2,100	$1.89	4d	1	0.84mi
415 N Belnord Ave Baltimore, MD	2.0	1.0	1008	$1,300	$1.29	25d	1	0.88mi
2608 E Fayette St Unit 1 Baltimore, MD	2.0	1.0	900	$1,700	$1.89	16d	1	0.88mi
104 N Rose St Baltimore, MD	3.0	2.0	936	$2,500	$2.67	45d	1	0.91mi
2639 Boston St #210 Baltimore, MD	2.0	2.0	784	$2,150	$2.74	45d	1	0.91mi
415 N Glover St Baltimore, MD	2.0	2.5	1092	$1,600	$1.47	25d	1	0.94mi
560 Bayview Blvd Baltimore, MD	1.0–3.0	1.0–3.0	1108	$2,496	$2.25	0d	29	0.95mi

Listing history 29 events

1. 2026-06-21
   days on market $115,000 Active 72 DOM
2. 2026-06-18
   days on market $115,000 Active 69 DOM
3. 2026-06-17
   days on market $115,000 Active 68 DOM
4. 2026-06-16
   days on market $115,000 Active 67 DOM
5. 2026-06-15
   days on market $115,000 Active 66 DOM
6. 2026-06-13
   days on market $115,000 Active 64 DOM
7. 2026-06-09
   days on market $115,000 Active 60 DOM
8. 2026-06-08
   days on market $115,000 Active 59 DOM
9. 2026-06-07
   days on market $115,000 Active 58 DOM
10. 2026-06-04
    days on market $115,000 Active 55 DOM
11. 2026-06-03
    days on market $115,000 Active 54 DOM
12. 2026-06-02
    days on market $115,000 Active 53 DOM
13. 2026-06-01
    days on market $115,000 Active 52 DOM
14. 2026-05-31
    days on market $115,000 Active 51 DOM
15. 2026-04-10
    listed $115,000 Active 1061-char remark

    Show marketing remark (1061 chars)

    Investor Special in the Heart of Highlandtown! Calling all investors and visionaries-3700 Chestle Place is your next opportunity! This end-of-row townhome is a blank slate, ready for a full renovation with the potential for 2 bedrooms and 2 bathrooms, or more with an addition. Bring your creativity and turn this property into a standout in one of Baltimore’s most vibrant and eclectic neighborhoods. House comes with construction plans for a full renovation with two story addition, found in the disclosures. Located in the heart of historic Highlandtown, the property is near an incredible mix of shops, restaurants, coffee spots, and art galleries. Enjoy easy access to community staples like Roof Top Hot local and organic market, Sally O's restaurant, Patterson Park, and the Highlandtown Gallery. Come check out Highlandtown Art Walk first Friday of each month—an evening full of music, gallery shows, and neighborhood energy starting at 5pm, and see what the neighborhood has to offer. Don’t let it slip away, schedule your tour today!

16. 2025-10-20
    historical
17. 2025-07-01
    listed $129,900 Active
18. 2016-11-16
    soldstatus $49,500
19. 2014-06-27
    historical
20. 2014-06-27
    soldstatus $42,000 Sold
21. 2014-06-27
    soldstatus $42,000
22. 2014-05-22
    historical
23. 2014-05-13
    status Contract
24. 2014-05-13
    status Contract
25. 2014-05-13
    status Active
26. 2014-05-13
    price $49,999
27. 2014-04-17
    listed $55,000 Active
28. 2014-04-16
    listed $49,999
29. 1994-12-22
    soldstatus $20,500

ⓘ 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: $2,941 · $245/mo
• Projected year-2 tax: $2,941 · $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 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: $23,539
• − Mortgage interest: −$6,442
• − Property taxes: −$2,941
• − Insurance: −$575
• − Repairs & maintenance: −$1,883
• − Management: −$1,883
• − Depreciation: −$3,345
• Taxable income: $6,470
• Est. tax owed @ 24.0%: −$1,553
• After-tax cash flow: $6,291/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

+461.0% since first listed

15 events — show timeline

• 2026-04-10 Listed $115,000 BRIGHT MLS
• 2025-10-20 Listing Removed — BRIGHT MLS
• 2025-07-01 Listed $129,900 BRIGHT MLS
• 2016-11-16 Sold (Public Records) $49,500 Public Records
• 2014-06-27 Delisted — MRIS
• 2014-06-27 Sold (MLS) $42,000 BRIGHT MLS
• 2014-06-27 Sold (MLS) $42,000 MRIS
• 2014-05-22 Listing Removed — BRIGHT MLS
• 2014-05-13 Relisted — MRIS
• 2014-05-13 Pending — MRIS
• 2014-05-13 Pending — MRIS
• 2014-05-13 Price Changed $49,999 MRIS
• 2014-04-17 Listed $55,000 MRIS
• 2014-04-16 Listed $49,999 BRIGHT MLS
• 1994-12-22 Sold (Public Records) $20,500 Public Records

Property tax history

+1.2%/yr

Latest (2025): $2,941 · +1.9% YoY. Source: county tax records.