3102 E Fairmount Ave · Baltimore, MD 21224

$215,000

3 bd · 2.5 ba · 1,720 sqft · Townhouse public records · 96 Days on market

Built 1920 $125/sqft · 27% below area Est $297k · 27% under

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Why this score? — see what drove the C+ 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 +23.3/30.0
• ARV discount +15.0/15.0
• DSCR +7.5/10.0
• 1% rule +5.7/10.0
• 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

3 bedrooms in neeed of updates, bring all offers. Strictly As-Is.

Key facts

• Built 1920
• Listed 96 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $215k.

Deal economics

• At list price, monthly cash flow is $338 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $215k).
• Recommended offer: $196k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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 (+1.3%/yr); 391 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); solid renter incomes; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• This rent runs 31% of the median local income ($89k/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

• It's been on market 96 days — a 9% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 29y ago; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1920 — 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 $195,650 (9.0% below list)

Questions for the listing agent

1. It's been on market 96 days. Have you received any prior offers? Is the seller open to a 9% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.07% ✓
• Cap rate: 8.49%
• Cash-on-cash: 7.85%
• DSCR: 1.35
• GRM: 7.8

CMA / ARV

• ARV (median comp): $296,547
• List price: $215,000
• Delta: -27.50%
• 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
38 S Curley St	0.22mi	3/1.0	1,729 (+0%)	0mo	$181,100	$105	83
2534 E Baltimore St	0.43mi	3/3.0	1,685 (-2%)	0mo	$495,000	$294	74
263 S East Ave	0.34mi	2/2.0 (-1)	1,767 (+3%)	0mo	$375,000	$212	72
21 S Linwood Ave	0.22mi	3/2.5	1,912 (+11%)	0mo	$490,000	$256	71
234 S Highland Ave	0.34mi	3/3.5	1,848 (+7%)	0mo	$417,500	$226	67
118 S Eaton St	0.43mi	3/3.5	1,569 (-9%)	1mo	$330,000	$210	61
802 S Potomac St	0.74mi	3/3.0	1,755 (+2%)	0mo	$435,000	$248	60
730 S Decker Ave	0.68mi	4/3.5 (+1)	1,740 (+1%)	0mo	$564,900	$325	57
616 S Belnord Ave	0.67mi	3/3.0	1,608 (-6%)	1mo	$370,000	$230	55
3702 Foster Ave	0.72mi	2/2.0 (-1)	1,632 (-5%)	1mo	$339,000	$208	50
633 S Linwood Ave S	0.64mi	3/2.5	1,935 (+12%)	0mo	$351,000	$181	49
731 S Conkling St	0.75mi	4/3.5 (+1)	1,836 (+7%)	0mo	$480,000	$261	44

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: -7.8%
• Equity multiple: 0.72×
• Total profit: $-17,116
• Equity at exit: $32,057

10-year hold

• IRR: -0.6%
• Equity multiple: 0.96×
• Total profit: $-2,300
• Equity at exit: $18,589

Cash invested: $60,200 (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: 391
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,299 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$206 /mo · $2,466/yr
• Insurance: −$90
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$483
• Net cashflow: $338

Break-even live

Break-even rent $1,871

Max offer price $215,000

Occupancy floor 80%

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
113 N Decker Ave Baltimore, MD	3.0	3.5	1800	$2,850	$1.58	23d	1	0.05mi
29 N Ellwood Ave Baltimore, MD	3.0	1.5	1100	$2,395	$2.18	23d	1	0.06mi
17 N East Ave Baltimore, MD	2.0	2.0	1326	$2,550	$1.92	23d	1	0.07mi
10 N Ellwood Ave Baltimore, MD	4.0	2.5	1768	$2,500	$1.41	43d	1	0.09mi
3212 E Baltimore St Baltimore, MD	2.0	3.0	1931	$2,350	$1.22	23d	1	0.11mi
113 N Clinton St Baltimore, MD	2.0	1.0	1300	$1,995	$1.53	43d	1	0.12mi
1 N Clinton St Baltimore, MD	4.0	1.5	1200	$1,700	$1.42	20d	1	0.15mi
404 N Robinson St Baltimore, MD	3.0	3.0	1320	$2,200	$1.67	23d	1	0.15mi
404 N Robinson St Baltimore, MD	3.0	3.0	1320	$2,100	$1.59	16d	1	0.15mi
150 N Curley St Baltimore, MD	2.0	2.5	1266	$1,850	$1.46	17d	1	0.15mi
3304 E Baltimore St Baltimore, MD	3.0	1.5	1514	$1,875	$1.24	43d	1	0.16mi
34 N Linwood Ave Baltimore, MD	2.0	1.5	1288	$2,400	$1.86	23d	1	0.19mi
11 N Streeper St Baltimore, MD	3.0	3.5	1800	$2,600	$1.44	43d	1	0.22mi
106 S Bouldin St Baltimore, MD	2.0	3.0	1134	$2,100	$1.85	20d	1	0.22mi
127 S Robinson St Baltimore, MD	2.0	1.5	1400	$2,000	$1.43	43d	1	0.23mi
10 N Streeper St Baltimore, MD	3.0	2.5	1440	$2,500	$1.74	23d	1	0.24mi
2815 Orleans St Baltimore, MD	2.0	1.0	1204	$1,600	$1.33	2d	1	0.24mi
102 S Curley St Baltimore, MD	2.0	1.5	1200	$1,800	$1.50	4d	1	0.25mi
2903 Jefferson St Baltimore, MD	3.0	3.0	1609	$1,850	$1.15	43d	1	0.25mi
3430 E Baltimore St Baltimore, MD	3.0	2.5	1316	$2,250	$1.71	23d	1	0.26mi
2800 Orleans St Baltimore, MD	3.0	1.0	1404	$1,600	$1.14	14d	1	0.27mi
2800 Orleans St Baltimore, MD	3.0	1.0	1404	$1,600	$1.14	17d	1	0.27mi
3436 Leverton Ave Baltimore, MD	3.0	3.5	1500	$2,350	$1.57	23d	1	0.30mi
3304 McElderry St Baltimore, MD	3.0	2.0	1413	$1,900	$1.34	43d	1	0.31mi
3502 E Lombard St Baltimore, MD	3.0	2.0	1522	$1,870	$1.23	43d	1	0.32mi
139 N Lakewood Ave Unit 1 Baltimore, MD	4.0	2.0	1370	$2,500	$1.82	43d	1	0.32mi
139 N Lakewood Ave Baltimore, MD	4.0	2.5	1370	$2,500	$1.82	43d	1	0.32mi
249 S East Ave Baltimore, MD	2.0	2.0	1680	$2,250	$1.34	23d	1	0.35mi
2619 E Fayette St Baltimore, MD	3.0	2.0	1600	$1,900	$1.19	43d	1	0.36mi
127 N Glover St Baltimore, MD	2.0	1.5	1110	$2,100	$1.89	2d	1	0.36mi
2934 E Monument St Baltimore, MD	2.0	1.0	1200	$1,499	$1.25	43d	1	0.39mi
218 N Glover St Baltimore, MD	2.0	2.0	1360	$1,750	$1.29	43d	1	0.39mi
531 N Belnord Ave Baltimore, MD	2.0	1.5	1100	$1,700	$1.55	23d	1	0.39mi
235 S Highland Ave Baltimore, MD	2.0	1.5	1222	$2,000	$1.64	23d	1	0.39mi
9 N Luzerne Ave Baltimore, MD	3.0	2.5	1380	$2,450	$1.78	4d	1	0.40mi
415 N Glover St Baltimore, MD	2.0	2.5	1092	$1,600	$1.47	23d	1	0.40mi
225 N Luzerne Ave Baltimore, MD	3.0	1.0	1198	$1,350	$1.13	19d	1	0.41mi
233 N Luzerne Ave Baltimore, MD	3.0	2.5	1700	$2,250	$1.32	21d	1	0.41mi
533 N Lakewood Ave Baltimore, MD	4.0	3.5	1758	$4,500	$2.56	43d	1	0.41mi
537 N Lakewood Ave Baltimore, MD	3.0	3.5	1755	$2,050	$1.17	43d	1	0.42mi

Listing history 35 events

1. 2026-06-18
   days on market $215,000 Active 96 DOM
2. 2026-06-17
   days on market $215,000 Active 95 DOM
3. 2026-06-16
   days on market $215,000 Active 94 DOM
4. 2026-06-15
   days on market $215,000 Active 93 DOM
5. 2026-06-13
   days on market $215,000 Active 91 DOM
6. 2026-06-09
   days on market $215,000 Active 87 DOM
7. 2026-06-08
   days on market $215,000 Active 86 DOM
8. 2026-06-07
   days on market $215,000 Active 85 DOM
9. 2026-06-04
   days on market $215,000 Active 82 DOM
10. 2026-06-03
    days on market $215,000 Active 81 DOM
11. 2026-06-02
    days on market $215,000 Active 80 DOM
12. 2026-06-01
    days on market $215,000 Active 79 DOM
13. 2026-05-31
    days on market $215,000 Active 78 DOM
14. 2026-05-13
    status Active
15. 2026-05-03
    historical
16. 2026-04-02
    status Active
17. 2026-03-06
    historical Active Under Contract
18. 2026-02-04
    listed $230,000 Active
19. 2023-03-09
    soldstatus $3,580,000
20. 2009-03-26
    soldstatus $49,000 Sold 65-char remark

    Show marketing remark (65 chars)

    3 bedrooms in neeed of updates, bring all offers. Strictly As-Is.

21. 2009-03-12
    historical 65-char remark

    Show marketing remark (65 chars)

    3 bedrooms in neeed of updates, bring all offers. Strictly As-Is.

22. 2009-02-26
    price $54,000 65-char remark

    Show marketing remark (65 chars)

    3 bedrooms in neeed of updates, bring all offers. Strictly As-Is.

23. 2009-02-10
    status 65-char remark

    Show marketing remark (65 chars)

    3 bedrooms in neeed of updates, bring all offers. Strictly As-Is.

24. 2008-12-09
    historical 65-char remark

    Show marketing remark (65 chars)

    3 bedrooms in neeed of updates, bring all offers. Strictly As-Is.

25. 2008-11-14
    price $69,900 65-char remark

    Show marketing remark (65 chars)

    3 bedrooms in neeed of updates, bring all offers. Strictly As-Is.

26. 2008-10-14
    price $78,000 65-char remark

    Show marketing remark (65 chars)

    3 bedrooms in neeed of updates, bring all offers. Strictly As-Is.

27. 2008-09-11
    price $88,900 65-char remark

    Show marketing remark (65 chars)

    3 bedrooms in neeed of updates, bring all offers. Strictly As-Is.

28. 2008-08-13
    listed $120,000 65-char remark

    Show marketing remark (65 chars)

    3 bedrooms in neeed of updates, bring all offers. Strictly As-Is.

29. 2007-05-14
    soldstatus $270,000
30. 2003-09-29
    soldstatus $60,000
31. 2003-05-27
    soldstatus $60,000
32. 2003-04-10
    historical
33. 2003-03-19
    listed $64,900
34. 1997-09-29
    historical
35. 1997-08-05
    listed

ⓘ 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: $2,466 · $206/mo
• Projected year-2 tax: $2,466 · $206/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 7/10 Severe FEMA zone X (unshaded) · 76% 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: $27,589
• − Mortgage interest: −$12,043
• − Property taxes: −$2,466
• − Insurance: −$1,742
• − Repairs & maintenance: −$2,207
• − Management: −$2,207
• − Depreciation: −$6,255
• Taxable income: $669
• Est. tax owed @ 24.0%: −$161
• After-tax cash flow: $3,897/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

+254.4% since first listed

22 events — show timeline

• 2026-05-13 Relisted — BRIGHT MLS
• 2026-05-03 Listing Removed — BRIGHT MLS
• 2026-04-02 Relisted — BRIGHT MLS
• 2026-03-06 Contingent — BRIGHT MLS
• 2026-02-04 Listed $230,000 BRIGHT MLS
• 2023-03-09 Sold (Public Records) $3,580,000 Public Records
• 2009-03-26 Sold (MLS) $49,000 MRIS
• 2009-03-12 Delisted — MRIS
• 2009-02-26 Price Changed $54,000 MRIS
• 2009-02-10 Relisted — MRIS
• 2008-12-09 Delisted — MRIS
• 2008-11-14 Price Changed $69,900 MRIS
• 2008-10-14 Price Changed $78,000 MRIS
• 2008-09-11 Price Changed $88,900 MRIS
• 2008-08-13 Listed $120,000 MRIS
• 2007-05-14 Sold (Public Records) $270,000 Public Records
• 2003-09-29 Sold (Public Records) $60,000 Public Records
• 2003-05-27 Sold (MLS) $60,000 MRIS
• 2003-04-10 Delisted — MRIS
• 2003-03-19 Listed $64,900 MRIS
• 1997-09-29 Delisted — MRIS
• 1997-08-05 Listed — MRIS

Property tax history

-3.9%/yr

Latest (2025): $2,466 · -18.7% YoY. Source: county tax records.