1512 W Pratt St · Baltimore, MD 21223

$209,900

4 bd · 1.0 ba · 1,632 sqft · Townhouse public records · 46 Days on market

Built 1880 1,307 sqft lot $129/sqft · 9% above area Est $192k · 9% over ↓ 13% since listing

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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 +24.6/30.0
• DSCR +7.9/10.0
• 1% rule +5.2/10.0
• Rent growth +4.4/5.0
• Livability +3.8/5.0
• ARV discount +3.3/15.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

NEW LOW PRICE!!! Welcome Home!!!! This stunning Baltimore City modern row home, provides warmth and all the we are home feels! The main level has beautiful exposed brick walls and paired with wood floors that create a warm, inviting atmosphere. Updated recessed lighting throughout enhances the spacious open layout, perfect for comfortable everyday living and entertaining. The kitchen features sleek stainless steel appliances, ample cabinet space, and a cozy nook ideal for dining. This home boasts with four bedrooms, three full bathrooms, and one half bathroom, provides plenty of room to relax and unwind. The bathrooms are thoughtfully updated with modern finishes. Two upper levels provide

Key facts

• Exposed brick walls
• Wood floors
• Two upper levels

Tags

• EXPOSED BRICK WALLS
• WOOD FLOORS
• UPDATED RECESSED LIGHTING
• AMPLE CABINET SPACE
• THOUGHTFULLY UPDATED BATHROOMS
• TWO UPPER LEVELS

Property features AI

Finance

• Other: Below-grade area of 448 (unfinished); Above-grade finished and unfinished area information available (finished approx. 1,632; unfinished approx. 300); Ground rent payment frequency: annually; Accessibility: 2+ access exits

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Interior townhouse/rowhouse; Four total levels; Fee simple ownership; Year built/effective remodel: 2025 (per assessor)
• Construction: Brick construction; Concrete perimeter foundation; Double-hung wood-frame windows
• Exterior features: Sidewalks; Enclosed outdoor living area (patio/porch); Chain-link fencing at rear, fully fenced

Interior

• Kitchen: Built-in microwave; Gas oven/range; Refrigerator
• Bedrooms: Two bedrooms on the first upper level; Two bedrooms on the second upper level
• Bathrooms: Three full bathrooms (all on upper levels); One half bathroom on the main level
• Heating & cooling: Forced air heating (natural gas); Central air conditioning (electric)
• Interior features: Tub/shower and walk-in shower; Combination kitchen and dining area; Six-panel doors; Brick and drywall walls with 9'+ ceilings; 14 total rooms (including bonus room and utility areas); Basement present; approximately 50% finished
• Laundry & utility: Main-floor laundry with front-loading washer and dryer; Utility room

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath townhouse listed at $210k.

Deal economics

• At list price, monthly cash flow is $434 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $210k).
• Recommended offer: $204k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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 (+7.5%/yr); 422 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); 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• At $2,132/mo this rent would consume 56% of the median local household income ($46k/yr) (locally 1755% 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 $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.
• At projected returns (-3.0% appreciation + 7.5% rent growth), your $59k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($204k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask has dropped $55k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; list at $210k implies a 223% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — 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 $203,603 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 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 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.02% ✓
• Cap rate: 8.77%
• Cash-on-cash: 8.86%
• DSCR: 1.39
• GRM: 8.2

CMA / ARV

• ARV (median comp): $191,854
• List price: $209,900
• Delta: 9.41%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
308 S Stricker St	0.10mi	3/1.5 (-1)	1,680 (+3%)	1mo	$62,740	$37	83
1022 W Lombard St	0.39mi	4/2.0	1,550 (-5%)	3mo	$138,500	$89	67
1503 W Fairmount Ave	0.23mi	3/2.5 (-1)	1,542 (-6%)	4mo	$190,000	$123	66
1057 W Barre St	0.73mi	4/2.5	1,665 (+2%)	0mo	$270,000	$162	56
302 Scott St	0.66mi	3/2.5 (-1)	1,640 (+0%)	2mo	$360,000	$220	56
901 Washington Blvd	0.58mi	3/3.5 (-1)	1,656 (+2%)	1mo	$219,000	$132	55
1109 S Carey St	0.41mi	3/2.0 (-1)	1,478 (-9%)	2mo	$219,900	$149	55
2211 W Pratt St	0.55mi	3/1.0 (-1)	1,500 (-8%)	2mo	$30,000	$20	54
739 Mchenry St	0.72mi	3/3.0 (-1)	1,632 (0%)	2mo	$279,900	$172	52
1241 James St	0.41mi	3/2.0 (-1)	1,412 (-14%)	1mo	$225,000	$159	48
1403 S Carey St	0.60mi	3/3.0 (-1)	1,757 (+8%)	0mo	$249,900	$142	46
628 Scott St	0.72mi	3/2.0 (-1)	1,800 (+10%)	2mo	$305,000	$169	38

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 · 7.51% rent growth · sell at horizon

5-year hold

• IRR: 1.6%
• Equity multiple: 1.06×
• Total profit: $3,649
• Equity at exit: $31,297

10-year hold

• IRR: 14.8%
• Equity multiple: 2.43×
• Total profit: $83,957
• Equity at exit: $18,148

Cash invested: $58,772 (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 21223

• Rents YoY: 7.5%
• Active inventory: 422
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,132 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$62 /mo · $745/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$448
• Net cashflow: $434

Break-even live

Break-even rent $1,583

Max offer price $209,900

Occupancy floor 75%

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: $52,475
• Closing costs: $6,297
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1315 Hollins St Unit 2 Baltimore, MD	3.0	2.0	1096	$1,950	$1.78	12d	1	0.16mi
1315 Hollins St Unit 2 Baltimore, MD	3.0	2.0	1096	$1,860	$1.70	4d	1	0.16mi
1635 Frederick Ave Baltimore, MD	3.0	2.0	1224	$1,850	$1.51	44d	1	0.18mi
104 S Carrollton Ave Baltimore, MD	3.0	4.0	1232	$2,400	$1.95	4d	1	0.23mi
1115 W Lombard St Baltimore, MD	3.0	1.0	1468	$2,100	$1.43	44d	1	0.28mi
1111 W Lombard St Baltimore, MD	3.0	1.0	1200	$1,295	$1.08	4d	1	0.29mi
1519 Penrose Ave Baltimore, MD	3.0	2.0	1200	$1,875	$1.56	44d	1	0.37mi
1839 W Fayette St Baltimore, MD	3.0	1.5	1426	$1,675	$1.17	24d	1	0.38mi
1000 Hollins St Unit 1000 Hollins Baltimore, MD	3.0	2.5	1472	$2,600	$1.77	44d	1	0.40mi
1142 Sargeant St Baltimore, MD	3.0	2.0	1080	$1,601	$1.48	2d	1	0.44mi
913 W Lombard St Baltimore, MD	3.0	1.0	1452	$1,600	$1.10	24d	1	0.45mi
1127 S Carey St Baltimore, MD	3.0	2.5	1340	$1,900	$1.42	4d	1	0.45mi
1814 Penrose Ave Baltimore, MD	3.0	1.0	1624	$1,700	$1.05	18d	1	0.47mi
110 S Poppleton St Baltimore, MD	3.0	1.5	1800	$1,900	$1.06	44d	1	0.47mi
1243 Washington Blvd Baltimore, MD	3.0	2.0	1148	$1,950	$1.70	44d	1	0.48mi
1259 Washington Blvd Baltimore, MD	3.0	3.0	1232	$2,999	$2.43	4d	1	0.48mi
311 S Pulaski St Baltimore, MD	5.0	3.0	1450	$2,400	$1.66	3d	1	0.49mi
311 S Pulaski St Baltimore, MD	5.0	3.0	1450	$2,400	$1.66	44d	1	0.49mi
514 S Payson St Unit 2 Baltimore, MD	3.0	2.0	1264	$1,750	$1.38	44d	1	0.50mi
1125 Washington Blvd Baltimore, MD	4.0	2.5	1200	$2,750	$2.29	18d	1	0.50mi
101 N Schroeder St Baltimore, MD	3.0	1.0–2.0	1037	$3,185	$3.07	2d	12	0.50mi
1226 W Cross St Baltimore, MD	3.0	3.0	1551	$2,250	$1.45	44d	1	0.56mi
2225 W Baltimore St Baltimore, MD	3.0	2.5	1200	$1,600	$1.33	24d	1	0.61mi
2012 W Saratoga St Baltimore, MD	3.0	1.0	1300	$1,700	$1.31	24d	1	0.61mi
819 Ramsay St Baltimore, MD	4.0	3.5	1856	$3,000	$1.62	12d	1	0.62mi
2232 W Baltimore St Baltimore, MD	3.0	1.0	1250	$1,875	$1.50	24d	1	0.63mi
803 McHenry St Baltimore, MD	4.0	2.5	1856	$2,599	$1.40	3d	1	0.64mi
1509 Edmondson Ave #1 Baltimore, MD	3.0	2.0	1600	$2,275	$1.42	24d	1	0.64mi
827 Washington Blvd Baltimore, MD	3.0	1.0	1512	$2,000	$1.32	24d	1	0.64mi
1625 Edmondson Ave Unit 2 Baltimore, MD	4.0	3.0	1500	$1,895	$1.26	12d	1	0.65mi
1625 Edmondson Ave Unit 1 Baltimore, MD	4.0	3.0	1500	$2,175	$1.45	4d	1	0.65mi
508 Wyeth St Baltimore, MD	3.0	3.0	1234	$1,850	$1.50	44d	1	0.65mi
324 Scott St Baltimore, MD	4.0	2.5	1656	$3,000	$1.81	44d	1	0.65mi
39 N Bentalou St Baltimore, MD	3.0	2.5	1844	$1,700	$0.92	3d	1	0.66mi
1032 W Franklin St Baltimore, MD	4.0	4.5	1913	$2,650	$1.39	24d	1	0.66mi
804 Hollins St Unit 1 Baltimore, MD	3.0	2.0	1800	$2,700	$1.50	4d	1	0.68mi
748 McHenry St Baltimore, MD	3.0	2.0	1288	$2,100	$1.63	4d	1	0.70mi
610 Scott St Baltimore, MD	5.0	3.0	1700	$2,750	$1.62	12d	1	0.71mi
519 Scott St Unit 2 Baltimore, MD	3.0	3.0	1600	$3,000	$1.88	44d	1	0.71mi
62 N Gorman Ave Baltimore, MD	3.0	2.0	1100	$2,500	$2.27	18d	1	0.72mi

Listing history 28 events

1. 2026-06-18
   days on market $209,900 Active 46 DOM
2. 2026-06-17
   pricedays on market $209,900 Active 45 DOM
3. 2026-06-16
   days on market $219,900 Active 44 DOM
4. 2026-06-15
   days on market $219,900 Active 43 DOM
5. 2026-06-13
   pricedays on market $219,900 Active 41 DOM
6. 2026-06-09
   days on market $229,900 Active 37 DOM
7. 2026-06-08
   days on market $229,900 Active 36 DOM
8. 2026-06-07
   days on market $229,900 Active 35 DOM
9. 2026-06-04
   days on market $229,900 Active 32 DOM
10. 2026-06-03
    days on market $229,900 Active 31 DOM
11. 2026-06-02
    days on market $229,900 Active 30 DOM
12. 2026-06-02
    price $229,900 Active 29 DOM
13. 2026-06-01
    days on market $230,000 Active 29 DOM
14. 2026-05-31
    days on market $230,000 Active 28 DOM
15. 2026-05-03
    listed $264,990 Active 925-char remark
16. 2026-04-13
    historical
17. 2026-03-07
    listed $275,000 Active
18. 2026-03-03
    historical
19. 2025-11-10
    listed $299,999 Active
20. 2025-10-28
    historical
21. 2025-10-04
    listed $315,000 Active
22. 2025-09-18
    historical
23. 2025-08-12
    price $315,000
24. 2025-06-17
    price $344,999
25. 2025-05-24
    listed $360,000 Active
26. 2024-04-22
    soldstatus $65,000
27. 1995-04-05
    soldstatus $65,000
28. 1982-04-06
    soldstatus $241,294

ⓘ 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: $745 · $62/mo
• Projected year-2 tax: $1,517 · $126/mo
• Expected delta: +$771/yr (+$64/mo · 103.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $25,584
• − Mortgage interest: −$11,758
• − Property taxes: −$745
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,047
• − Management: −$2,047
• − Depreciation: −$6,106
• Taxable income: $1,832
• Est. tax owed @ 24.0%: −$440
• After-tax cash flow: $4,768/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): 19,572
• Household income: $45,840
• Rent vs Own: 68.0% rent · 32.0% own
• Severe rent burden: 1755.0

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 (72%)
• Race & ethnicity: Black 72% White 16% Hispanic / Latino 7% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Romanian 1%
• Foreign-born: 8% · Canada
• Languages at home: 90% English-only · Spanish 6% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -97.99%
• Current HPI: 140.5836
• Rent YoY: ▲ 7.51%
• 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

-13.0% since first listed

19 events — show timeline

• 2026-06-16 Price Changed $209,900 BRIGHT MLS
• 2026-06-11 Price Changed $219,900 BRIGHT MLS
• 2026-06-02 Price Changed $229,900 BRIGHT MLS
• 2026-05-27 Price Changed $230,000 BRIGHT MLS
• 2026-05-22 Price Changed $259,990 BRIGHT MLS
• 2026-05-03 Listed $264,990 BRIGHT MLS
• 2026-04-13 Listing Removed — BRIGHT MLS
• 2026-03-07 Listed $275,000 BRIGHT MLS
• 2026-03-03 Listing Removed — BRIGHT MLS
• 2025-11-10 Listed $299,999 BRIGHT MLS
• 2025-10-28 Listing Removed — BRIGHT MLS
• 2025-10-04 Listed $315,000 BRIGHT MLS
• 2025-09-18 Listing Removed — BRIGHT MLS
• 2025-08-12 Price Changed $315,000 BRIGHT MLS
• 2025-06-17 Price Changed $344,999 BRIGHT MLS
• 2025-05-24 Listed $360,000 BRIGHT MLS
• 2024-04-22 Sold (Public Records) $65,000 Public Records
• 1995-04-05 Sold (Public Records) $65,000 Public Records
• 1982-04-06 Sold (Public Records) $241,294 Public Records

Property tax history

-9.2%/yr

Latest (2025): $745 · -81.4% YoY. Source: county tax records.