3224 Belmont Ave · Baltimore, MD 21216

$74,900

3 bd · 1.0 ba · 1,178 sqft · Townhouse public records · 9 Days on market

Built 1935 $64/sqft · 16% below area Est $89k · 16% 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 +14.5/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Investor special in Baltimore! 3224 Belmont Ave is a classic brick townhome offering a strong value-add opportunity for investors or landlords. The property needs renovation and is being sold strictly as-is, making it ideal for a fix-and-flip or long-term rental strategy. The home is just minutes from Coppin State University, a consistent driver of tenant demand. It’s also within a 15-minute drive to major employers like Johns Hopkins Hospital and University of Maryland Medical Center. Convenient access to Downtown Baltimore, major highways (I-70, I-83, I-695), and public transit adds to its appeal. Baltimore/Washington International Thurgood Marshall Airport is also within easy reach

Key facts

• Built 1935
• Listed 9 days

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas service
• Home design: Interior townhouse/rowhouse; Fee simple ownership
• Construction: Brick construction; Other foundation; Other structures above and below grade; Below-grade (unfinished) area present
• Exterior features: No tidal water

Interior

• Bedrooms: Three bedrooms on the first upper level
• Flooring: Hardwood
• Bathrooms: One full bathroom (all upper levels); One half bathroom (lower level)
• Heating & cooling: Radiator heat; Natural gas hot water
• Interior features: Hardwood flooring; Finished above-grade living space; Basement present (other type)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $75k.

Deal economics

• At list price, monthly cash flow is $807 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Cap rate 19.2% 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 (+6.1%/yr); 252 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• At $1,680/mo this rent would consume 48% 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 $518 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 + 6.1% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $74,900

Questions for the listing agent

1. Built in 1935 — 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. 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.
6. 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.
7. 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: 2.24% ✓
• Cap rate: 19.23%
• Cash-on-cash: 46.20%
• DSCR: 3.06
• GRM: 3.7

CMA / ARV

• ARV (median comp): $88,665
• List price: $74,900
• Delta: -15.52%
• 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
3224 Belmont Ave	0.00mi	3/1.5	1,178 (0%)	1mo	$77,000	$65	97
1218 N Longwood St	0.21mi	4/2.0 (+1)	1,190 (+1%)	2mo	$56,000	$47	77
3004 Brighton St	0.28mi	3/1.0	1,288 (+9%)	1mo	$44,000	$34	71
3806 Rokeby Rd	0.55mi	3/1.0	1,160 (-2%)	2mo	$120,000	$103	70
1528 N Ellamont St	0.18mi	3/2.5	1,328 (+13%)	1mo	$209,000	$157	63
1007 Wildwood Pkwy	0.70mi	3/1.0	1,216 (+3%)	2mo	$111,100	$91	60
3039 Harlem Ave	0.52mi	3/1.0	1,070 (-9%)	1mo	$27,500	$26	60
537 Longwood St	0.68mi	4/2.0 (+1)	1,176 (-0%)	0mo	$60,000	$51	59
2711 Riggs Ave	0.52mi	3/1.0	1,288 (+9%)	2mo	$134,000	$104	59
3821 Stokes Dr	0.55mi	3/2.0	1,254 (+6%)	1mo	$145,000	$116	58
1000 Mount Holly St	0.55mi	3/1.5	1,290 (+10%)	1mo	$93,000	$72	56
1007 Mount Holly St	0.52mi	4/2.0 (+1)	1,290 (+10%)	2mo	$210,000	$163	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 · 6.1% rent growth · sell at horizon

5-year hold

• IRR: 46.9%
• Equity multiple: 3.13×
• Total profit: $44,716
• Equity at exit: $11,168

10-year hold

• IRR: 54.0%
• Equity multiple: 7.15×
• Total profit: $128,887
• Equity at exit: $6,476

Cash invested: $20,972 (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: 3.7×

Monthly cashflow live

• Estimated rent: $1,680 high
• Mortgage (P&I): −$393
• Tax from tax record: −$96 /mo · $1,146/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $807

Break-even live

Break-even rent $658

Max offer price $74,900

Occupancy floor 47%

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3238 Westmont Ave Baltimore, MD	3.0	1.0	1280	$1,600	$1.25	43d	1	0.13mi
3309 Brighton St Baltimore, MD	3.0	1.0	1134	$1,700	$1.50	43d	1	0.15mi
3127 Baker St Baltimore, MD	3.0	1.0	1000	$1,300	$1.30	43d	1	0.19mi
3003 Presstman St Unit 2 Baltimore, MD	2.0	1.0	1450	$1,300	$0.90	23d	1	0.20mi
3003 Presstman St Unit 1 Baltimore, MD	2.0	2.0	1450	$1,400	$0.97	44d	1	0.20mi
1042 Ellicott Dr Baltimore, MD	2.0	1.0	900	$1,450	$1.61	43d	1	0.20mi
2800 Presstman St Baltimore, MD	3.0	2.5	1460	$1,799	$1.23	23d	1	0.40mi
2806 Riggs Ave Baltimore, MD	3.0	2.5	1412	$1,900	$1.35	3d	1	0.42mi
3003 W North Ave Baltimore, MD	1.0–2.0	1.0	841	$935	$1.11	2d	3	0.44mi
798 N Grantley St Baltimore, MD	3.0	2.0	1360	$2,295	$1.69	23d	1	0.44mi
780 Linnard St Baltimore, MD	3.0	2.0	1224	$1,590	$1.30	43d	1	0.46mi
787 N Grantley St Baltimore, MD	3.0	1.0	1116	$1,575	$1.41	23d	1	0.46mi
2728 Winchester St Baltimore, MD	3.0	1.5	1260	$1,800	$1.43	3d	1	0.46mi
2744 W Mosher St Baltimore, MD	4.0	2.0	1412	$2,100	$1.49	23d	1	0.49mi
3015 Rayner Ave Baltimore, MD	3.0	1.0	1152	$1,350	$1.17	43d	1	0.50mi
709 Denison St Baltimore, MD	2.0	2.0	840	$1,630	$1.94	23d	1	0.53mi
730 Linnard St Unit 1 Baltimore, MD	4.0	1.0	1360	$1,750	$1.29	23d	1	0.55mi
3709 Nortonia Rd #2 Baltimore, MD	2.0	1.0	1289	$1,450	$1.12	17d	1	0.62mi
623 N Grantley St Baltimore, MD	4.0	2.0	1250	$2,000	$1.60	23d	1	0.64mi
3935 Stokes Dr #1 Baltimore, MD	2.0	1.0	1150	$1,400	$1.22	43d	1	0.65mi
3712 Gelston Dr Baltimore, MD	3.0	2.0	1250	$2,500	$2.00	23d	1	0.66mi
3423 Edmondson Ave Baltimore, MD	2.0	1.5	1400	$1,710	$1.22	43d	1	0.66mi
3514 Clifton Ave Unit 21 Baltimore, MD	2.0	1.0	925	$1,150	$1.24	43d	1	0.67mi
3514 Clifton Ave Baltimore, MD	2.0	1.0	925	$1,199	$1.30	43d	1	0.67mi
3017 Poplar Ter Baltimore, MD	2.0	1.0	880	$1,349	$1.53	23d	1	0.67mi
1307 Wildwood Pkwy Baltimore, MD	2.0	1.0	725	$1,295	$1.79	43d	1	0.68mi
3507 Edmondson Ave Baltimore, MD	4.0	2.0	1428	$2,300	$1.61	43d	1	0.69mi
3407 Elgin Ave Unit 5 Baltimore, MD	2.0	1.0	800	$1,250	$1.56	43d	1	0.72mi
2636 W North Ave Baltimore, MD	2.0–3.0	1.0–2.0	975	$1,475	$1.51	4d	1	0.72mi
4103 Stokes Dr Apt 1 Baltimore, MD	2.0	1.0	725	$1,095	$1.51	43d	1	0.73mi
4103 Mountwood Rd Baltimore, MD	3.0	2.0	1030	$1,700	$1.65	43d	1	0.74mi
2103 Chelsea Ter Unit 1 Baltimore, MD	2.0	2.0	1500	$2,200	$1.47	14d	1	0.77mi
2103 Chelsea Ter Unit 2 Baltimore, MD	3.0	1.5	1500	$2,100	$1.40	14d	1	0.77mi
405 N Edgewood St Baltimore, MD	4.0	2.0	1408	$2,950	$2.10	4d	1	0.79mi
1216 N Augusta Ave Baltimore, MD	3.0	1.0	1024	$1,550	$1.51	23d	1	0.80mi
4020 Gelston Dr Baltimore, MD	3.0	2.0	1270	$1,875	$1.48	43d	1	0.82mi
3706 W Franklin St Unit 1 Baltimore, MD	2.0	1.0	735	$1,100	$1.50	4d	1	0.83mi
2636 Lauretta Ave Baltimore, MD	3.0	2.5	1232	$1,900	$1.54	43d	1	0.84mi
2815 W Mulberry St Baltimore, MD	4.0	2.0	1040	$2,050	$1.97	43d	1	0.84mi
1617 Moreland Ave Baltimore, MD	2.0	1.0	900	$1,450	$1.61	23d	1	0.87mi

Listing history 3 events

1. 2026-05-15
   status Pending 802-char remark
2. 2026-05-06
   listed $74,900 Active 802-char remark
3. 2026-05-01
   historical $74,900 802-char remark

ⓘ 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: $1,146 · $96/mo
• Projected year-2 tax: $1,146 · $96/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 6/10 Major FEMA zone X (unshaded) · 70% 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: $20,156
• − Mortgage interest: −$4,196
• − Property taxes: −$1,146
• − Insurance: −$374
• − Repairs & maintenance: −$1,612
• − Management: −$1,612
• − Depreciation: −$2,179
• Taxable income: $9,036
• Est. tax owed @ 24.0%: −$2,169
• After-tax cash flow: $7,520/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

+2.8% since first listed

4 events — show timeline

• 2026-05-29 Sold (MLS) $77,000 BRIGHT MLS
• 2026-05-15 Pending — BRIGHT MLS
• 2026-05-06 Listed $74,900 BRIGHT MLS
• 2026-05-01 Coming Soon $74,900 BRIGHT MLS

Property tax history

-1.9%/yr

Latest (2025): $1,146 · +65.8% YoY. Source: county tax records.