2510 N Ellamont St · Baltimore, MD 21216

$115,000

4 bd · 2.0 ba · 1,760 sqft · Townhouse public records · 59 Days on market

Built 1920 2,613 sqft lot $65/sqft · 57% below area

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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
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This two-story townhouse is located in the Hanlon-Longwood area in West Baltimore. Residents can enjoy convenient access to shopping and transit via Mondawmin Mall and its adjacent Metro station, Gwynns Falls Park, as well as the expansive Druid Hill Park, home to the Maryland Zoo, the Rawlings Conservatory, and public recreation spaces. This property’s location is bounded by I-83 for easy access and travel. This property is occupied, this is NO ACCESS for showings. Please do not disturb the occupants.

Key facts

• Built 1920
• Listed 59 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath townhouse listed at $115k.

Deal economics

• At list price, monthly cash flow is $679 ($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: $112k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.4% 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 (+6.1%/yr); 252 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $2,049/mo this rent would consume 59% of the median local household income ($42k/yr) (locally 2264% 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 $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 + 6.1% rent growth), your $32k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 10y ago; this cycle's ask has dropped $20k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $16k; list at $115k implies a 619% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.0% 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 $111,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.78% ✓
• Cap rate: 13.38%
• Cash-on-cash: 25.30%
• DSCR: 2.13
• GRM: 4.7

CMA / ARV

• ARV (median comp): $269,922
• List price: $115,000
• Delta: -57.40%
• 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
3031 Hanlon Ave	0.11mi	3/2.0 (-1)	1,820 (+3%)	1mo	$260,000	$143	83
3204 Piedmont Ave	0.06mi	4/3.0	1,890 (+7%)	1mo	$300,000	$159	80
3202 Piedmont Ave	0.06mi	4/3.0	1,890 (+7%)	1mo	$299,900	$159	80
2307 N Rosedale St	0.20mi	4/2.5	1,908 (+8%)	0mo	$235,000	$123	75
3015 Windsor Ave	0.31mi	3/2.5 (-1)	1,674 (-5%)	2mo	$240	—	68
1640 N Ellamont St	0.61mi	3/1.5 (-1)	1,650 (-6%)	4mo	$65,000	$39	50
2304 Ashburton St	0.50mi	4/2.0	1,520 (-14%)	4mo	$255,000	$168	50
3104 Tioga Pkwy	0.69mi	3/2.0 (-1)	1,640 (-7%)	3mo	$217,000	$132	49
3609 Liberty Heights Ave	0.73mi	4/2.5	1,623 (-8%)	4mo	$269,000	$166	47
1635 N Rosedale St	0.62mi	4/3.0	1,572 (-11%)	4mo	$198,500	$126	46
3304 Brighton St	0.73mi	3/1.5 (-1)	1,908 (+8%)	2mo	$155,000	$81	43
2326 Braddish Ave	0.53mi	3/1.5 (-1)	1,500 (-15%)	2mo	$159,000	$106	42

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 · 6.1% rent growth · sell at horizon

5-year hold

• IRR: 22.7%
• Equity multiple: 1.97×
• Total profit: $31,319
• Equity at exit: $17,147

10-year hold

• IRR: 32.8%
• Equity multiple: 4.49×
• Total profit: $112,266
• 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 21216

• Rents YoY: 6.1%
• Active inventory: 252
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $2,049 high
• Mortgage (P&I): −$603
• Tax from tax record: −$289 /mo · $3,469/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $679

Break-even live

Break-even rent $1,190

Max offer price $115,000

Occupancy floor 62%

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 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3030 Windsor Ave Baltimore, MD	4.0	1.5	2124	$1,995	$0.94	4d	1	0.30mi
2917 Clifton Ave Baltimore, MD	4.0	4.0	1700	$2,150	$1.26	23d	1	0.45mi
2812 Clifton Ave Baltimore, MD	3.0	1.5	1650	$1,850	$1.12	43d	1	0.49mi
3904 Gwynns Falls Pkwy Baltimore, MD	3.0	2.0	1772	$2,600	$1.47	43d	1	0.55mi
2103 Chelsea Ter Unit 2 Baltimore, MD	3.0	1.5	1500	$2,100	$1.40	14d	1	0.55mi
1633 N Hilton St Baltimore, MD	4.0	2.5	1920	$2,600	$1.35	17d	1	0.64mi
3104 Tioga Pkwy Baltimore, MD	3.0	2.0	1640	$2,050	$1.25	21d	1	0.70mi
1530 N Rosedale St Baltimore, MD	3.0	2.0	1641	$1,895	$1.15	14d	1	0.75mi
1513 N Ellamont St Baltimore, MD	3.0	1.0	1700	$1,700	$1.00	23d	1	0.78mi
2800 Presstman St Baltimore, MD	3.0	2.5	1460	$1,799	$1.23	23d	1	0.88mi
3204 Sequoia Ave Baltimore, MD	4.0	2.5	1791	$2,600	$1.45	43d	1	0.91mi
1402 Poplar Grove St Baltimore, MD	4.0	1.5	1540	$800	$0.52	43d	1	0.91mi
2305 Wichita Ave Unit 1 Baltimore, MD	3.0	1.0	1950	$1,300	$0.67	23d	1	0.94mi
2405 W North Ave Baltimore, MD	4.0	3.0	1826	$1,900	$1.04	4d	1	0.97mi
2401 W North Ave Baltimore, MD	5.0	2.0	2037	$1,800	$0.88	4d	1	0.97mi
3238 Westmont Ave Baltimore, MD	3.0	1.0	1280	$1,600	$1.25	43d	1	1.02mi
2204 Clifton Ave Baltimore, MD	3.0	1.0	1400	$1,450	$1.04	4d	1	1.03mi
1816 N Bentalou St Baltimore, MD	3.0	2.0	1350	$1,700	$1.26	23d	1	1.06mi
1816 N Bentalou St Baltimore, MD	3.0	2.0	1350	$1,700	$1.26	10d	1	1.06mi
2128 N Pulaski St Baltimore, MD	4.0	3.0	2166	$2,200	$1.02	43d	1	1.11mi
2728 Winchester St Baltimore, MD	3.0	1.5	1260	$1,800	$1.43	3d	1	1.11mi
2806 Riggs Ave Baltimore, MD	3.0	2.5	1412	$1,900	$1.35	3d	1	1.16mi
4037 Cedardale Rd Baltimore, MD	5.0	3.0	1500	$2,800	$1.87	14d	1	1.24mi
2744 W Mosher St Baltimore, MD	4.0	2.0	1412	$2,100	$1.49	23d	1	1.24mi
2201 Whittier Ave Baltimore, MD	4.0	2.0	1750	$1,700	$0.97	43d	1	1.26mi
2201 Whittier Ave Baltimore, MD	4.0	2.0	1750	$1,700	$0.97	17d	1	1.26mi
4113 Mountwood Rd Baltimore, MD	3.0	1.0	1520	$1,795	$1.18	43d	1	1.26mi
2216 Whittier Ave Baltimore, MD	5.0	1.5	1392	$1,975	$1.42	23d	1	1.26mi
798 N Grantley St Baltimore, MD	3.0	2.0	1360	$2,295	$1.69	23d	1	1.28mi
3700 Woodridge Rd Baltimore, MD	3.0	1.5	1955	$1,950	$1.00	43d	1	1.34mi
715 N Rosedale St Baltimore, MD	5.0	3.0	1542	$2,550	$1.65	43d	1	1.38mi
3822 Pall Mall Rd Baltimore, MD	3.0	1.5	1320	$1,875	$1.42	43d	1	1.39mi
730 Linnard St Unit 1 Baltimore, MD	4.0	1.0	1360	$1,750	$1.29	23d	1	1.40mi
1501 N Payson St Baltimore, MD	3.0	1.0	1400	$1,550	$1.11	43d	1	1.42mi
4230 Towanda Ave Baltimore, MD	3.0	2.0	1400	$1,800	$1.29	17d	1	1.43mi
3712 Gelston Dr Baltimore, MD	3.0	2.0	1250	$2,500	$2.00	23d	1	1.44mi
623 N Grantley St Baltimore, MD	4.0	2.0	1250	$2,000	$1.60	23d	1	1.47mi
1616 N Fulton Ave Baltimore, MD	3.0	2.0	1620	$1,795	$1.11	4d	1	1.50mi
3324 Edmondson Ave Baltimore, MD	3.0	2.5	2300	$1,995	$0.87	21d	1	1.50mi

Listing history 30 events

1. 2026-06-18
   days on market $115,000 Active 59 DOM
2. 2026-06-17
   days on market $115,000 Active 58 DOM
3. 2026-06-16
   days on market $115,000 Active 57 DOM
4. 2026-06-15
   days on market $115,000 Active 56 DOM
5. 2026-06-13
   days on market $115,000 Active 54 DOM
6. 2026-06-09
   days on market $115,000 Active 50 DOM
7. 2026-06-08
   days on market $115,000 Active 49 DOM
8. 2026-06-07
   pricedays on market $115,000 Active 48 DOM
9. 2026-06-04
   days on market $125,000 Active 45 DOM
10. 2026-06-03
    days on market $125,000 Active 44 DOM
11. 2026-06-02
    days on market $125,000 Active 43 DOM
12. 2026-06-01
    days on market $125,000 Active 42 DOM
13. 2026-05-31
    days on market $125,000 Active 41 DOM
14. 2026-05-01
    price $125,000 513-char remark

    Show marketing remark (513 chars)

    This two-story townhouse is located in the Hanlon-Longwood area in West Baltimore. Residents can enjoy convenient access to shopping and transit via Mondawmin Mall and its adjacent Metro station, Gwynns Falls Park, as well as the expansive Druid Hill Park, home to the Maryland Zoo, the Rawlings Conservatory, and public recreation spaces. This property’s location is bounded by I-83 for easy access and travel. This property is occupied, this is NO ACCESS for showings. Please do not disturb the occupants.

15. 2026-04-20
    listed $135,000 Active 513-char remark

    Show marketing remark (513 chars)

    This two-story townhouse is located in the Hanlon-Longwood area in West Baltimore. Residents can enjoy convenient access to shopping and transit via Mondawmin Mall and its adjacent Metro station, Gwynns Falls Park, as well as the expansive Druid Hill Park, home to the Maryland Zoo, the Rawlings Conservatory, and public recreation spaces. This property’s location is bounded by I-83 for easy access and travel. This property is occupied, this is NO ACCESS for showings. Please do not disturb the occupants.

16. 2025-11-26
    historical
17. 2025-09-08
    price $30,000
18. 2025-09-08
    listed $65,000 Active
19. 2017-09-15
    soldstatus $16,000 Sold
20. 2017-09-15
    soldstatus $16,000 Closed
21. 2017-08-28
    status Contract
22. 2017-08-24
    status Active
23. 2017-08-24
    historical Expired
24. 2017-08-24
    price $16,000
25. 2017-08-23
    status Active
26. 2017-06-03
    status Contract
27. 2017-04-29
    status Active
28. 2016-12-16
    status Contract
29. 2016-12-03
    price $13,000
30. 2016-09-26
    listed $17,000 Active

ⓘ 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: $3,469 · $289/mo
• Projected year-2 tax: $3,469 · $289/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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,593
• − Mortgage interest: −$6,442
• − Property taxes: −$3,469
• − Insurance: −$575
• − Repairs & maintenance: −$1,967
• − Management: −$1,967
• − Depreciation: −$3,345
• Taxable income: $6,827
• Est. tax owed @ 24.0%: −$1,638
• After-tax cash flow: $6,509/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): 29,426
• Household income: $42,031
• Rent vs Own: 49.8% rent · 50.2% own
• Severe rent burden: 2264.0

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 (91%)
• Race & ethnicity: Black 91% Hispanic / Latino 4% Two or more races 3% White 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3% 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: ▼ -107.42%
• Current HPI: 164.3933
• Rent YoY: ▲ 6.10%
• 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

+635.3% since first listed

17 events — show timeline

• 2026-05-01 Price Changed $125,000 BRIGHT MLS
• 2026-04-20 Listed $135,000 BRIGHT MLS
• 2025-11-26 Listing Removed — BRIGHT MLS
• 2025-09-08 Price Changed $30,000 BRIGHT MLS
• 2025-09-08 Listed $65,000 BRIGHT MLS
• 2017-09-15 Sold (MLS) $16,000 BRIGHT MLS
• 2017-09-15 Sold (MLS) $16,000 MRIS
• 2017-08-28 Pending — MRIS
• 2017-08-24 Relisted — MRIS
• 2017-08-24 Delisted — MRIS
• 2017-08-24 Price Changed $16,000 MRIS
• 2017-08-23 Relisted — MRIS
• 2017-06-03 Pending — MRIS
• 2017-04-29 Relisted — MRIS
• 2016-12-16 Pending — MRIS
• 2016-12-03 Price Changed $13,000 MRIS
• 2016-09-26 Listed $17,000 MRIS

Property tax history

+3.2%/yr

Latest (2025): $3,469 · +7.9% YoY. Source: county tax records.