1510 E 36th St · Baltimore, MD 21218

$197,500

3 bd · 2.0 ba · 1,360 sqft · Townhouse public records · 1 Days on market

Built 1951 2,178 sqft lot Est $136k · 45% over

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Why this score? — see what drove the D- 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 +17.2/30.0
• DSCR +5.4/10.0
• 1% rule +4.7/10.0
• Livability +3.8/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Nestled in Baltimore’s sought-after Ednor Gardens-Lakeside neighborhood, this beautifully maintained brick home is ready to welcome its next owner. Offering 3 generously sized bedrooms and 2 full bathrooms, the home features hardwood flooring throughout the main living areas and bedrooms, adding character and enduring style. Enjoy outdoor living with a rear deck and fenced backyard, perfect for relaxing, entertaining, or gardening. Recent updates include an updated roof and windows, a new HVAC system, water heater, and newly installed front upper steps and walkway. The lower level includes a kitchenette-style area, providing additional versatility and potential for future customizatio

Key facts

• Hardwood flooring
• Water heater
• Updated roof

Tags

• HARDWOOD FLOORING
• REAR DECK
• FENCED BACKYARD
• UPDATED ROOF
• NEW HVAC SYSTEM
• WATER HEATER

Property features AI

Finance

• Other: Fee simple ownership

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Electric cooling; Natural gas for heating and hot water
• Home design: Interior townhouse/rowhouse; Brick construction; Good condition; Estimated year built
• Construction: Brick exterior; Concrete perimeter foundation; Above-grade and below-grade structures
• Exterior features: On-street parking; Ground rent paid annually

Interior

• Kitchen: Kitchen
• Bedrooms: Three bedrooms on the upper level (3)
• Bathrooms: Two full bathrooms (one on the main upper level and one on a lower level); Total of 2 full baths
• Heating & cooling: Forced air heating; Central air conditioning (electric)
• Interior features: Partially finished basement; Living room; Dining room; Recreation room
• Laundry & utility: Hot water provided by natural gas

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $198k.

Deal economics

• At list price, monthly cash flow is $142 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $192k (2.5% below list).
• Recommended offer: $192k (2.5% below list) — sets the bar for 1% rule.

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 (+1.6%/yr); 325 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• This rent runs 37% of the median local income ($62k/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 $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $50k; list at $198k implies a 299% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1951 — 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 $192,484 (2.5% below list)

Questions for the listing agent

1. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.97% ✗
• Cap rate: 7.15%
• Cash-on-cash: 3.08%
• DSCR: 1.14
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $136,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3807 Elkader Rd	0.48mi	4/2.0 (+1)	1,352 (-1%)	0mo	$235,000	$174	71
3825 Elkader Rd	0.49mi	4/2.0 (+1)	1,352 (-1%)	1mo	$275,000	$203	70
1723 E 32nd St	0.44mi	3/2.0	1,280 (-6%)	2mo	$128,000	$100	68
1809 E 32nd St	0.45mi	3/1.5	1,280 (-6%)	1mo	$82,000	$64	66
3626 Kimble Rd	0.40mi	3/1.0	1,280 (-6%)	2mo	$310,000	$242	66
1632 E 31st St	0.45mi	3/1.0	1,280 (-6%)	0mo	$94,500	$74	65
3633 Elkader Rd	0.47mi	2/1.5 (-1)	1,304 (-4%)	1mo	$265,000	$203	63
609 Melville Ave	0.72mi	4/2.0 (+1)	1,364 (+0%)	1mo	$120,000	$88	60
646 E 37th St	0.67mi	3/2.0	1,284 (-6%)	0mo	$94,000	$73	59
1101 Andover Rd	0.43mi	4/2.0 (+1)	1,500 (+10%)	2mo	$257,000	$171	56
1120 Montpelier St	0.74mi	3/2.0	1,260 (-7%)	2mo	$70,000	$56	52
608 Chestnut Hill Ave	0.70mi	2/1.0 (-1)	1,156 (-15%)	1mo	$73,000	$63	33

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 · 1.63% rent growth · sell at horizon

5-year hold

• IRR: -13.0%
• Equity multiple: 0.54×
• Total profit: $-25,552
• Equity at exit: $29,448

10-year hold

• IRR: -6.3%
• Equity multiple: 0.62×
• Total profit: $-20,918
• Equity at exit: $17,076

Cash invested: $55,300 (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 21218

• Rents YoY: 1.6%
• Active inventory: 325
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,925 high
• Mortgage (P&I): −$1,036
• Tax from tax record: −$261 /mo · $3,130/yr
• Insurance: −$82
• HOA: −$0
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $142

Break-even live

Break-even rent $1,745

Max offer price $197,500

Occupancy floor 88%

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: $49,375
• Closing costs: $5,925
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1504 Upshire Rd Unit 1E Baltimore, MD	2.0	1.0	1000	$1,400	$1.40	43d	1	0.08mi
1502 Fernley Rd Baltimore, MD	3.0	2.0	1350	$2,800	$2.07	43d	1	0.09mi
3213 The Alameda Baltimore, MD	2.0	1.0	1708	$1,295	$0.76	3d	1	0.37mi
1040 E 33rd St Baltimore, MD	1.0–2.0	1.0–2.0	775	$1,525	$1.97	2d	10	0.40mi
1702 E 32nd St Baltimore, MD	3.0	2.0	1344	$2,300	$1.71	43d	1	0.43mi
1539 Ralworth Rd Baltimore, MD	3.0	2.0	1580	$1,950	$1.23	14d	1	0.44mi
1617 Argonne Dr Baltimore, MD	4.0	2.0	1200	$2,550	$2.12	43d	1	0.51mi
3721 Ellerslie Ave Baltimore, MD	1.0–3.0	1.0–2.0	894	$1,603	$1.79	1d	1	0.59mi
721 E 36th St Unit Na Baltimore, MD	2.0	1.0	1156	$1,650	$1.43	43d	1	0.62mi
724 E 35th St Baltimore, MD	3.0	1.5	1368	$2,000	$1.46	14d	1	0.63mi
1519 E 28th St Baltimore, MD	3.0	2.0	1100	$1,350	$1.23	43d	1	0.64mi
3222 Ellerslie Ave Baltimore, MD	4.0	1.5	1550	$1,950	$1.26	43d	1	0.64mi
1802 E 28th St Baltimore, MD	3.0	1.0	1300	$1,600	$1.23	24d	1	0.64mi
1832 E 28th St Baltimore, MD	3.0	1.0	1066	$1,495	$1.40	24d	1	0.66mi
1539 Abbotston St Baltimore, MD	3.0	2.0	1800	$1,995	$1.11	43d	1	0.67mi
612 Chestnut Hill Ave Unit 1 Baltimore, MD	2.0	1.0	900	$1,999	$2.22	43d	1	0.67mi
812 Nat Ct Apt 12 Baltimore, MD	2.0	1.0	900	$1,295	$1.44	43d	1	0.76mi
936 Montpelier St Baltimore, MD	2.0	1.0	1260	$1,450	$1.15	24d	1	0.77mi
815 Gilrubin Ct Baltimore, MD	2.0	1.0	900	$1,695	$1.88	43d	1	0.78mi
3529 Greenmount Ave Baltimore, MD	3.0	2.0	1316	$1,575	$1.20	43d	1	0.82mi
720 Springfield Ave Baltimore, MD	3.0	1.0	1160	$2,000	$1.72	43d	1	0.84mi
616 Montpelier St Baltimore, MD	3.0	1.0	1150	$1,750	$1.52	11d	1	0.86mi
3026 Mathews St Baltimore, MD	2.0	1.0	996	$1,350	$1.36	14d	1	0.88mi
513 E 41st St Baltimore, MD	4.0	1.5	1620	$1,900	$1.17	43d	1	0.88mi
2606 Cecil Ave Baltimore, MD	2.0	1.5	1200	$1,500	$1.25	43d	1	0.90mi
3012 Mathews St Baltimore, MD	2.0	1.0	996	$1,100	$1.10	17d	1	0.90mi
706 E 43rd St Baltimore, MD	4.0	1.5	1596	$1,899	$1.19	2d	1	0.90mi
1545 E Cold Spring Ln Baltimore, MD	4.0	2.0	1240	$2,000	$1.61	43d	1	0.91mi
4033 Greenmount Ave Baltimore, MD	2.0	2.5	1860	$2,550	$1.37	24d	1	0.92mi
348 E University Pkwy Baltimore, MD	4.0	2.0	1809	$2,400	$1.33	43d	1	0.98mi
4303 York Rd #3 Baltimore, MD	2.0	1.0	1680	$1,400	$0.83	43d	1	0.99mi
835 E Cold Spring Ln Baltimore, MD	2.0	1.5	997	$1,400	$1.40	24d	1	1.00mi
4407 Old York Rd Baltimore, MD	3.0	1.5	1356	$1,574	$1.16	43d	1	1.05mi
4407 Old York Rd Baltimore, MD	3.0	1.5	1356	$1,574	$1.16	20d	1	1.05mi
1260 Rossiter Ave Baltimore, MD	2.0	1.0	710	$1,250	$1.76	1d	37	1.05mi
519 E 28th St Baltimore, MD	3.0	2.0	1500	$2,000	$1.33	4d	1	1.07mi
3221 Guilford Ave Apt A Baltimore, MD	3.0	1.5	1025	$2,925	$2.85	17d	1	1.09mi
436 Ilchester Ave Unit 1 Baltimore, MD	2.0	2.0	1002	$1,350	$1.35	43d	1	1.11mi
531 Willow Ave Unit Na Baltimore, MD	4.0	1.0	1300	$1,800	$1.38	20d	1	1.11mi
3601 Greenway #101 Baltimore, MD	2.0	2.0	1470	$2,700	$1.84	4d	1	1.14mi

Listing history 2 events

1. 2026-06-19
   remarks 693-char remark
2. 2026-06-19
   listed $197,500 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: $3,130 · $261/mo
• Projected year-2 tax: $3,130 · $261/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: $23,098
• − Mortgage interest: −$11,063
• − Property taxes: −$3,130
• − Insurance: −$988
• − Repairs & maintenance: −$1,848
• − Management: −$1,848
• − Depreciation: −$5,745
• Taxable loss: −$1,523
• Est. tax savings @ 24.0%: +$366
• After-tax cash flow: $2,067/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): 44,014
• Household income: $62,488
• Rent vs Own: 51.9% rent · 48.1% own
• Severe rent burden: 2564.0

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 0.58)
• Race & ethnicity: Black 60% White 26% Two or more races 6% Hispanic / Latino 5% Asian 5%
• Common ancestry: Romanian 2% Italian 1% Scotch-Irish 1%
• Foreign-born: 10% · Canada, China, South Korea
• Languages at home: 87% English-only · Spanish 4% French/Haitian/Cajun 2% Chinese 2%

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: ▼ -463.14%
• Current HPI: 292.3986
• Rent YoY: ▲ 1.63%
• 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

+393.8% since first listed

3 events — show timeline

• 2026-06-18 Listed $197,500 BRIGHT MLS
• 1985-04-19 Sold (Public Records) $49,500 Public Records
• 1980-11-07 Sold (Public Records) $40,000 Public Records

Property tax history

-0.8%/yr

Latest (2025): $3,130 · +5.0% YoY. Source: county tax records.