1504 N Washington St · Baltimore, MD 21213

$69,900

3 bd · 2.0 ba · 1,000 sqft · Townhouse public records · 1 Days on market

Built 1920 933 sqft lot Est $78k · 10% 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 +12.2/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +4.7/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0

Listing remarks

Discover this end-of-row townhouse nestled in the heart of Broadway East. Built in 1920, this Federal-style architecture showcases a blend of classic brick façade and a modern potential. Step inside to find a traditional floor plan with laminated plank flooring that flows from the spacious living room to the nice-sized kitchen, which is equipped with appliances and upgraded countertops. With three well-appointed bedrooms and a full bathroom with tub shower, this home provides ample room for relaxation and personalization. The unfinished basement offers endless possibilities for customization. You can transform it into a recreation room, home gym, or additional storage space. Outside,

Key facts

• Upgraded countertops
• Unfinished basement
• Private rear yard

Tags

• END-OF-ROW TOWNHOUSE
• FEDERAL-STYLE ARCHITECTURE
• LAMINATED PLANK FLOORING
• UPGRADED COUNTERTOPS
• UNFINISHED BASEMENT
• PRIVATE REAR YARD

Property features AI

Finance

• Other: Pets allowed with no pet restrictions
• Financial info: Land and improvement assessed values listed (assessor values available)
• HOA & community: Ground rent paid annually

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas heat and hot water
• Home design: End of row townhouse; Fee simple ownership; Property described as below average condition
• Construction: Brick construction; Brick/mortar permanent foundation; Building not winterized
• Exterior features: Not in a federal flood zone; No tidal water

Interior

• Bedrooms: One bedroom on the first upper level; Two bedrooms on the second upper level
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Forced air heating; Natural gas hot water
• Interior features: Full basement; Living area per assessor
• Laundry & utility: Washer/dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $70k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Cap rate 24.2% 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 (+5.2%/yr); 319 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); 42% 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 44% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $86 of equity ($483 loan paydown + $-397 appreciation (-0.6% local appreciation)).
• Baltimore County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-0.6% appreciation + 5.2% rent growth), your $20k 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.
• 5 sale attempts since 14y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: 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 $69,900

Questions for the listing agent

1. Built in 1920 — 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: 2.70% ✓
• Cap rate: 24.18%
• Cash-on-cash: 63.89%
• DSCR: 3.84
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $78,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1532 N Patterson Park Ave	0.24mi	3/2.0	984 (-2%)	6mo	$199,000	$202	82
1423 E Lanvale St	0.48mi	4/2.0 (+1)	1,000 (0%)	3mo	$77,750	$78	70
2030 E Lafayette Ave	0.23mi	2/2.5 (-1)	1,100 (+10%)	5mo	$182,000	$165	62
1226 E Chase St	0.64mi	3/2.0	957 (-4%)	2mo	$209,900	$219	61
2615 E Chase St	0.60mi	3/1.5	952 (-5%)	2mo	$149,000	$157	60
2202 Prentiss Pl	0.38mi	2/2.0 (-1)	900 (-10%)	2mo	$160,000	$178	59
1658 E 25th St	0.61mi	3/1.0	1,040 (+4%)	4mo	$70,000	$67	57
1822 Aiken St	0.61mi	3/1.0	1,050 (+5%)	3mo	$49,000	$47	57
1652 Darley Ave	0.54mi	3/1.0	1,100 (+10%)	0mo	$52,500	$48	54
2736 Mura St	0.64mi	3/2.0	1,120 (+12%)	0mo	$81,000	$72	50
1209 N Linwood Ave	0.75mi	2/1.0 (-1)	1,090 (+9%)	4mo	$85,000	$78	38
2811 E Biddle St	0.69mi	2/1.0 (-1)	1,148 (+15%)	2mo	$75,000	$65	32

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.57% appreciation · 5.25% rent growth · sell at horizon

5-year hold

• IRR: 67.6%
• Equity multiple: 4.42×
• Total profit: $66,864
• Equity at exit: $18,334

10-year hold

• IRR: 70.7%
• Equity multiple: 9.67×
• Total profit: $169,653
• Equity at exit: $20,527

Cash invested: $19,572 (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 21213

• Home prices YoY: -0.1%
• Rents YoY: 5.2%
• Active inventory: 319
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,889 high
• Mortgage (P&I): −$367
• Tax from tax record: −$55 /mo · $658/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $1,042

Break-even live

Break-even rent $570

Max offer price $69,900

Occupancy floor 40%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1627 Rutland Ave Unit 1 Baltimore, MD	3.0	2.0	1200	$2,350	$1.96	43d	1	0.18mi
1627 Rutland Ave Baltimore, MD	3.0	2.0	1100	$1,950	$1.77	23d	1	0.18mi
1814 E Lafayette Ave Baltimore, MD	4.0	2.0	1200	$1,995	$1.66	23d	1	0.24mi
2215 E Biddle St Baltimore, MD	2.0	2.5	1350	$1,800	$1.33	43d	1	0.31mi
2311 E Lafayette Ave Baltimore, MD	3.0	1.0	1000	$1,400	$1.40	43d	1	0.33mi
2410 E Federal St Baltimore, MD	4.0	2.0	720	$2,200	$3.06	23d	1	0.34mi
2202 Prentiss Pl Baltimore, MD	3.0	2.0	1400	$2,400	$1.71	43d	1	0.38mi
1607 Hakesley Pl Baltimore, MD	3.0	1.0	720	$1,400	$1.94	43d	1	0.39mi
2430 E Biddle St Baltimore, MD	2.0	2.0	1300	$2,000	$1.54	43d	1	0.43mi
1514 E Lafayette Ave Baltimore, MD	3.0	1.5	1215	$2,000	$1.65	23d	1	0.44mi
1512 E Lafayette Ave Baltimore, MD	3.0	2.5	1476	$1,950	$1.32	43d	1	0.44mi
1803 N Dallas St Baltimore, MD	2.0	2.5	1250	$2,100	$1.68	23d	1	0.45mi
1923 Ashland Ave Baltimore, MD	2.0	2.0	862	$1,770	$2.05	19d	2	0.52mi
1923 Ashland Ave Unit 401 Baltimore, MD	2.0	2.0	850	$1,795	$2.11	20d	1	0.52mi
2626 E Preston St Baltimore, MD	3.0	1.0	1136	$1,800	$1.58	43d	1	0.54mi
821 N Collington Ave Baltimore, MD	3.0	2.0	1150	$1,950	$1.70	43d	1	0.57mi
1607 Cliftview Ave Baltimore, MD	3.0	1.0	1200	$1,475	$1.23	43d	1	0.58mi
1243 E Lanvale St Baltimore, MD	3.0	1.5	1281	$1,750	$1.37	16d	1	0.59mi
1243 E Lanvale St Baltimore, MD	3.0	1.5	1281	$1,750	$1.37	2d	1	0.59mi
712 N Duncan St Baltimore, MD	2.0	1.5	1000	$2,000	$2.00	43d	1	0.62mi
802 N Broadway #1 Baltimore, MD	2.0	1.0	1120	$1,800	$1.61	17d	1	0.63mi
1323 N Kenwood Ave Unit 1 Baltimore, MD	2.0	1.5	1060	$1,350	$1.27	23d	1	0.63mi
2212 E Monument St Unit 2 Baltimore, MD	2.0	1.0	1200	$1,550	$1.29	17d	1	0.66mi
1027 N Central Ave Baltimore, MD	3.0	1.0	1200	$1,600	$1.33	21d	1	0.66mi
1317 E Eager St Baltimore, MD	4.0	1.5	1400	$1,900	$1.36	21d	1	0.69mi
720 N Port St Baltimore, MD	2.0	1.0	950	$1,300	$1.37	43d	1	0.69mi
1010 N Central Ave Baltimore, MD	2.0	1.0	1023	$1,650	$1.61	23d	1	0.69mi
931 N Central Ave Baltimore, MD	3.0	1.0	1085	$1,400	$1.29	23d	1	0.72mi
618 N Montford Ave Baltimore, MD	3.0	1.0	1050	$1,468	$1.40	14d	1	0.74mi
618 N Montford Ave Baltimore, MD	3.0	1.0	1050	$1,468	$1.40	43d	1	0.74mi
2310 Aisquith St Baltimore, MD	4.0	3.0	900	$2,000	$2.22	4d	1	0.76mi
1232 Ashland Ave Baltimore, MD	3.0	1.0	1200	$1,600	$1.33	21d	1	0.77mi
2729 Ashland Ave Baltimore, MD	3.0	1.0	1000	$1,350	$1.35	2d	1	0.78mi
2113 Belair Rd Baltimore, MD	3.0	1.0	1344	$1,795	$1.34	43d	1	0.80mi
1307 E Madison St Baltimore, MD	2.0	1.0	1200	$1,650	$1.38	43d	1	0.80mi
1226 E Madison St Baltimore, MD	3.0	1.0	1100	$2,179	$1.98	4d	1	0.82mi
1205 Ashland Ave Baltimore, MD	3.0	1.0	992	$1,550	$1.56	23d	1	0.82mi
2308 Jefferson St Baltimore, MD	3.0	1.0	907	$1,450	$1.60	43d	1	0.83mi
1418 E Monument St Baltimore, MD	2.0–4.0	1.0–2.0	1265	$1,602	$1.27	14d	5	0.83mi
406 N Collington Ave Baltimore, MD	2.0	2.5	1216	$1,875	$1.54	43d	1	0.86mi

Listing history 23 events

1. 2026-06-18
   remarks 692-char remark
2. 2026-06-18
   days on marketlisting id $69,900 Active 1 DOM
3. 2026-06-16
   days on market $69,900 Active 26 DOM
4. 2026-06-15
   days on market $69,900 Active 25 DOM
5. 2026-06-13
   days on market $69,900 Active 23 DOM
6. 2026-06-09
   days on market $69,900 Active 19 DOM
7. 2026-06-08
   days on market $69,900 Active 18 DOM
8. 2026-06-07
   days on market $69,900 Active 17 DOM
9. 2026-06-04
   days on market $69,900 Active 14 DOM
10. 2026-06-03
    days on market $69,900 Active 13 DOM
11. 2026-06-02
    days on market $69,900 Active 12 DOM
12. 2026-06-01
    days on market $69,900 Active 11 DOM
13. 2026-05-31
    days on market $69,900 Active 10 DOM
14. 2026-05-21
    listed $69,900 Active
15. 2025-01-31
    status Pending
16. 2025-01-31
    historical
17. 2025-01-14
    listed $85,000 Active
18. 2023-02-27
    historical
19. 2022-03-19
    listed $90,000 Active
20. 2012-06-18
    historical Withdrawn
21. 2012-06-18
    historical
22. 2012-02-09
    listed Active
23. 2012-02-09
    listed $49,900

ⓘ 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: $658 · $55/mo
• Projected year-2 tax: $710 · $59/mo
• Expected delta: +$52/yr (+$4/mo · 7.9%)

ⓘ 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: $22,672
• − Mortgage interest: −$3,915
• − Property taxes: −$658
• − Insurance: −$350
• − Repairs & maintenance: −$1,814
• − Management: −$1,814
• − Depreciation: −$2,033
• Taxable income: $12,089
• Est. tax owed @ 24.0%: −$2,901
• After-tax cash flow: $9,604/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): 28,058
• Household income: $51,344
• Rent vs Own: 48.0% rent · 52.0% own
• Severe rent burden: 1868.0

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 (86%)
• Race & ethnicity: Black 86% White 6% Hispanic / Latino 4% Two or more races 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -0.57%
• Current HPI: 427.4453
• Rent YoY: ▲ 5.25%
• 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

+40.1% since first listed

10 events — show timeline

• 2026-05-21 Listed $69,900 BRIGHT MLS
• 2025-01-31 Pending — BRIGHT MLS
• 2025-01-31 Listing Removed — BRIGHT MLS
• 2025-01-14 Listed $85,000 BRIGHT MLS
• 2023-02-27 Listing Removed — BRIGHT MLS
• 2022-03-19 Listed $90,000 BRIGHT MLS
• 2012-06-18 Delisted — MRIS
• 2012-06-18 Listing Removed — BRIGHT MLS
• 2012-02-09 Listed — MRIS
• 2012-02-09 Listed $49,900 BRIGHT MLS

Property tax history

+16.0%/yr

Latest (2025): $658 · +25.4% YoY. Source: county tax records.