1941 Griffis Ave · Baltimore, MD 21230

$40,000

2 bd · 1.0 ba · 966 sqft · Townhouse public records · 1 Days on market

Built 1925 1,155 sqft lot

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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
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Calling all investors! Here is the property you have been looking for! 2 bed 1 bath. Nice property with great bones. Roof is 5 years old. Hot water heater is 4 years old. Porch was redone 6 years ago! Inside will need your personal touch. Will make a great flip once your personal touch is added. Or even a rent and hold if that is your interest. Thank You!

Key facts

• Roof is 5 years old
• Built 1925

Tags

• ROOF IS 5 YEARS OLD
• PORCH WAS REDONE 6 YEARS AGO

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Cable TV available; Electric service available; Natural gas available
• Home design: Interior townhouse/rowhouse; Fee simple ownership
• Construction: Brick construction; Block foundation; Building not winterized; Above-grade and below-grade structures
• Exterior features: Not in a federal flood zone; Lot approximately 15 x 77 (estimated)

Interior

• Bedrooms: Two bedrooms on the first upper level
• Bathrooms: One full bathroom (all upper levels)
• Heating & cooling: Window air conditioning units (electric); Other heating (fuel: other); Hot water: electric/other
• Interior features: Partially finished basement; Below average property condition; Living area reported by assessor

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $40k.

Deal economics

• At list price, monthly cash flow is $927 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Cap rate 34.1% 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: 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: Elmer A. Henderson: A Johns Hopkins Partnership (math 2% / reading 16%, grade F, #650 of 860 statewide, top 77%, 642 students, 80% FRL); Baltimore Polytechnic Institute (math 71% / reading 84%, grade A-, #22 of 222 statewide, top 10%, 1,555 students, 43% FRL) — zoned schools average 62% FRL vs 79% district-wide (17 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 43% at this address vs 12% district-wide (+32 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 soft (-1.0%/yr); 363 active listings in the ZIP; 27 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 $277 of loan paydown is wiped out by about $1k 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 + 0.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $27k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1925 — 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 $40,000

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 3.98% ✓
• Cap rate: 34.11%
• Cash-on-cash: 99.35%
• DSCR: 5.42
• GRM: 2.1

CMA / ARV

• ARV (on-the-fly): $106,260
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1931 Griffis Ave	0.01mi	2/1.0	912 (-6%)	0mo	$120,000	$132	90
2014 Grinnalds Ave	0.09mi	2/2.0	1,015 (+5%)	7mo	$80,000	$79	78
1926 Griffis Ave	0.02mi	3/1.0 (+1)	1,016 (+5%)	14mo	$95,000	$94	74
2149 Harman Ave	0.22mi	2/1.0	1,050 (+9%)	2mo	$115,000	$110	74
2527 Tolley St	0.23mi	2/1.0	1,050 (+9%)	6mo	$120,000	$114	70
1935 Grinnalds Ave	0.05mi	3/2.0 (+1)	1,080 (+12%)	1mo	$119,000	$110	68
1919 Grinnalds Ave	0.05mi	3/1.0 (+1)	1,080 (+12%)	7mo	$130,000	$120	67
2104 Whistler Ave	0.21mi	2/1.0	840 (-13%)	3mo	$82,500	$98	66
1710 Wickes Ave	0.42mi	3/2.0 (+1)	1,024 (+6%)	3mo	$150,000	$146	59
1919 Deering Ave	0.35mi	2/1.5	864 (-11%)	11mo	$125,000	$145	55
2809 Washington Blvd	0.43mi	3/1.0 (+1)	1,110 (+15%)	3mo	$80,000	$72	47
2630 Alaska St	0.70mi	3/1.5 (+1)	1,008 (+4%)	7mo	$85,000	$84	47

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 96.9%
• Equity multiple: 5.28×
• Total profit: $47,966
• Equity at exit: $5,964

10-year hold

• IRR: 98.9%
• Equity multiple: 9.93×
• Total profit: $100,007
• Equity at exit: $3,458

Cash invested: $11,200 (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 21230

• Rents YoY: -1.0%
• Active inventory: 363
• Price-to-rent: 2.1×

Monthly cashflow live

• Estimated rent: $1,593 high
• Mortgage (P&I): −$210
• Tax from tax record: −$105 /mo · $1,258/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $927

Break-even live

Break-even rent $419

Max offer price $40,000

Occupancy floor 37%

Sensitivity live

Price	-10% $950	-5% $939	+0% $927	+5% $916	+10% $905
Rent	-10% $801	-5% $864	+0% $927	+5% $990	+10% $1,053
Rate	-1.0pp $947	-0.5pp $937	base $927	+0.5pp $917	+1.0pp $906

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1931 Griffis Ave Baltimore, MD	2.0	1.0	912	$1,349	$1.48	5d	1	0.04mi
2429 Washington Blvd Baltimore, MD	1.0	1.0	940	$600	$0.64	25d	1	0.07mi
1706 Harman Ave Baltimore, MD	3.0	1.0	1056	$1,600	$1.52	0d	1	0.21mi
3004 Elizabeth Ave Unit 1 Baltimore, MD	3.0	1.0	1024	$1,395	$1.36	6d	1	0.80mi
3017 Janice Ave Baltimore, MD	3.0	1.0	1024	$1,995	$1.95	25d	1	0.81mi
2600 W Patapsco Ave Baltimore, MD	1.0–2.0	1.0	856	$1,312	$1.53	0d	25	0.95mi
2657 Lehman St Unit 1 Baltimore, MD	2.0	1.0	1056	$1,000	$0.95	45d	1	1.01mi
1432 Carroll St Baltimore, MD	2.0	1.5	912	$1,900	$2.08	45d	1	1.06mi
2200 W Patapsco Ave Baltimore, MD	3.0	1.0	890	$1,569	$1.76	45d	1	1.07mi
2540 Frederick Ave Baltimore, MD	3.0	1.0	1075	$1,400	$1.30	25d	1	1.16mi
1708 Hall Ave Unit 2 Halethorpe, MD	2.0	1.0	845	$1,625	$1.92	13d	1	1.16mi
332 S Franklintown Rd Unit 2 Baltimore, MD	2.0	1.0	776	$795	$1.02	25d	1	1.18mi
1215 James St Baltimore, MD	2.0	1.0	960	$1,500	$1.56	45d	1	1.31mi
305 S Calhoun St Baltimore, MD	2.0	1.0	1000	$1,300	$1.30	23d	1	1.33mi
1163 Washington Blvd Baltimore, MD	2.0	2.5	1012	$1,700	$1.68	14d	1	1.35mi
1160 Washington Blvd Baltimore, MD	2.0	1.0	960	$1,575	$1.64	25d	1	1.37mi
1712 W Lombard St #4 Baltimore, MD	1.0	1.0	550	$900	$1.64	45d	1	1.38mi
1142 Sargeant St Baltimore, MD	3.0	2.0	1080	$1,601	$1.48	0d	1	1.39mi
1142 Sargeant St Baltimore, MD	3.0	2.0	1080	$1,601	$1.48	3d	1	1.39mi
3392 Saint Benedict St Baltimore, MD	2.0	1.0	864	$1,450	$1.68	25d	1	1.39mi
1127 Sargeant St Baltimore, MD	2.0	1.5	1080	$1,275	$1.18	25d	1	1.39mi
1125 Wicomico St Baltimore, MD	3.0	3.0	1068	$1,955	$1.83	25d	1	1.41mi
2516 Hollins St Baltimore, MD	3.0	2.0	1100	$1,700	$1.55	45d	1	1.42mi
1918 W Baltimore St Baltimore, MD	2.0–3.0	1.0–2.0	857	$1,375	$1.60	45d	1	1.48mi
853 Reinhart St Baltimore, MD	2.0	2.5	780	$1,800	$2.31	45d	1	1.48mi
1324 W Lombard St Unit 1 Baltimore, MD	2.0	2.0	1100	$1,500	$1.36	25d	1	1.49mi
1324 W Lombard St Unit 2 Baltimore, MD	2.0	1.5	1100	$1,450	$1.32	45d	1	1.49mi

Listing history 4 events

1. 2026-06-21
   status $40,000 Pending 1 DOM
2. 2026-06-19
   remarks 357-char remark
3. 2026-06-18
   remarks 346-char remark
4. 2026-06-18
   listed $40,000 Active 1 DOM

ⓘ 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: $1,258 · $105/mo
• Projected year-2 tax: $1,258 · $105/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: $19,117
• − Mortgage interest: −$2,241
• − Property taxes: −$1,258
• − Insurance: −$200
• − Repairs & maintenance: −$1,529
• − Management: −$1,529
• − Depreciation: −$1,164
• Taxable income: $11,196
• Est. tax owed @ 24.0%: −$2,687
• After-tax cash flow: $8,440/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): 32,977
• Household income: $91,842
• Rent vs Own: 49.3% rent · 50.7% own
• Severe rent burden: 1463.0

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 0.63)
• Race & ethnicity: White 55% Black 23% Hispanic / Latino 13% Two or more races 6% Asian 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1%
• Common ancestry: Romanian 5% Lithuanian 2% Italian 2%
• Foreign-born: 10% · Canada, China
• Languages at home: 85% English-only · Spanish 9% Other Indo-European 1% 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: ▼ -311.43%
• Current HPI: 284.338
• Rent YoY: ▼ -1.00%
• 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

+48.1% since first listed

2 events — show timeline

• 2026-06-18 Listed $40,000 BRIGHT MLS
• 1981-01-20 Sold (Public Records) $27,000 Public Records

Property tax history

-3.0%/yr

Latest (2025): $1,258 · +5.3% YoY. Source: county tax records.