1216 W Pratt St · Baltimore, MD 21223

$124,900

3 bd · 1.5 ba · 1,260 sqft · Townhouse · 17 Days on market

Built 1920 Est $223k · 44% 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 +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• Rent growth +4.4/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Adorable 3BR/1.5BA townhome located in the historic Hollins Market district. Walk up to the brightly colored home with the wooden front porch and open the door to your new home. Step inside to a home filled with character featuring an exposed brick wall, two faux fireplaces, and a curved staircase. The main floor offers a half bath, a large open concept living room, dining room, and kitchen. The kitchen offers abundant cabinetry and counter space. Just beyond the kitchen are the main floor laundry and access to the fenced yard. On the second floor is a large primary bedroom with a faux fireplace and a full bath. The third floor offers an additional primary sized bedroom and sizable secondar

Key facts

• Curved staircase
• Fenced yard
• Wooden front porch

Tags

• WOODEN FRONT PORCH
• EXPOSED BRICK WALL
• CURVED STAIRCASE
• ABUNDANT CABINETRY
• FENCED YARD
• PRIVACY-FENCED YARD

Property features AI

Finance

• Other: Ownership interest: ground rent; Accessibility: 2+ access exits
• Financial info: Ground rent exists; paid annually

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Interior townhouse/rowhouse; Good property condition; Year built per assessor
• Construction: Brick construction; Crawl space foundation; Rubber roof; Double-pane replacement windows
• Exterior features: Patio; Deck; Fully fenced rear yard (wood); Shed

Interior

• Kitchen: Built-in microwave; Electric range/oven; Dishwasher; Refrigerator
• Bedrooms: One bedroom on the first upper level; Two bedrooms on the second upper level
• Flooring: Laminate flooring; Carpet
• Bathrooms: One full bathroom (upper levels); One half bathroom on the main level
• Heating & cooling: Forced air heating (electric); Central air conditioning; 200+ amp electric service; Electric hot water
• Interior features: Open floor plan; Combination kitchen and dining area; Combination dining and living area; Breakfast area; Curved staircase; Tub with shower; Dry wall and brick walls/ceilings
• Laundry & utility: Washer and dryer in unit; Laundry on the main floor

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $125k.

Deal economics

• At list price, monthly cash flow is $631 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $123k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.4% 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 25d 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 $1,843/mo this rent would consume 48% 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 $864 of loan paydown is wiped out by about $4k 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 $35k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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 $123,026 (1.5% below list)

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: 1.48% ✓
• Cap rate: 12.36%
• Cash-on-cash: 21.66%
• DSCR: 1.96
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $223,020
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1110 W Lombard St	0.11mi	3/2.5	1,206 (-4%)	1mo	$180,000	$149	83
916 S Carey St	0.28mi	3/1.5	1,288 (+2%)	1mo	$100,000	$78	82
835 1/2 W Lombard St	0.43mi	3/1.0	1,242 (-1%)	2mo	$255,000	$205	74
121 Parkin St	0.36mi	3/2.0	1,208 (-4%)	0mo	$175,000	$145	74
1404 Lemmon St	0.15mi	3/2.0	1,100 (-13%)	1mo	$189,000	$172	69
1244 Carroll St	0.41mi	3/1.5	1,140 (-10%)	0mo	$213,900	$188	65
1241 James St	0.28mi	3/2.0	1,412 (+12%)	1mo	$225,000	$159	64
817 W Cross St	0.58mi	3/3.5	1,320 (+5%)	0mo	$260,000	$197	57
835 W Cross St	0.55mi	3/2.5	1,380 (+10%)	1mo	$243,600	$177	53
538 Eislen St	0.70mi	2/1.0 (-1)	1,170 (-7%)	1mo	$345,000	$295	47
624 Washington Blvd	0.69mi	3/2.0	1,440 (+14%)	0mo	$269,000	$187	42
605 N Fremont Ave N	0.74mi	3/3.0	1,440 (+14%)	0mo	$185,000	$128	35

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: 19.2%
• Equity multiple: 1.82×
• Total profit: $28,708
• Equity at exit: $18,623

10-year hold

• IRR: 30.4%
• Equity multiple: 4.32×
• Total profit: $116,156
• Equity at exit: $10,799

Cash invested: $34,972 (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 21223

• Rents YoY: 7.5%
• Active inventory: 422
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,843 high
• Mortgage (P&I): −$655
• Tax from tax record: −$117 /mo · $1,409/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $631

Break-even live

Break-even rent $1,044

Max offer price $124,900

Occupancy floor 61%

Sensitivity live

Price	-10% $702	-5% $667	+0% $631	+5% $596	+10% $560
Rent	-10% $486	-5% $558	+0% $631	+5% $704	+10% $777
Rate	-1.0pp $694	-0.5pp $663	base $631	+0.5pp $599	+1.0pp $566

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
104 S Carrollton Ave Baltimore, MD	3.0	4.0	1232	$2,400	$1.95	5d	1	0.02mi
1115 W Lombard St Baltimore, MD	3.0	1.0	1468	$2,100	$1.43	44d	1	0.07mi
1111 W Lombard St Baltimore, MD	3.0	1.0	1200	$1,295	$1.08	5d	1	0.08mi
1324 W Lombard St Unit 1 Baltimore, MD	2.0	2.0	1100	$1,500	$1.36	24d	1	0.11mi
1324 W Lombard St Unit 2 Baltimore, MD	2.0	1.5	1100	$1,450	$1.32	44d	1	0.11mi
1315 Hollins St Unit 2 Baltimore, MD	3.0	2.0	1096	$1,860	$1.70	5d	1	0.13mi
1315 Hollins St Unit 2 Baltimore, MD	3.0	2.0	1096	$1,950	$1.78	13d	1	0.13mi
305 S Calhoun St Baltimore, MD	2.0	1.0	1000	$1,300	$1.30	22d	1	0.16mi
10 S Carey St Baltimore, MD	2.0	1.0	1140	$1,550	$1.36	24d	1	0.17mi
1000 Hollins St Unit 1000 Hollins Baltimore, MD	3.0	2.5	1472	$2,600	$1.77	45d	1	0.21mi
913 W Lombard St Baltimore, MD	3.0	1.0	1452	$1,600	$1.10	24d	1	0.24mi
923 McHenry St Baltimore, MD	3.0	1.0	1008	$1,625	$1.61	44d	1	0.25mi
110 S Poppleton St Baltimore, MD	3.0	1.5	1800	$1,900	$1.06	44d	1	0.26mi
1262 Glyndon Ave Baltimore, MD	2.0	3.0	1258	$1,850	$1.47	24d	1	0.27mi
1142 Sargeant St Baltimore, MD	3.0	2.0	1080	$1,601	$1.48	2d	1	0.28mi
1215 James St Baltimore, MD	2.0	1.0	960	$1,500	$1.56	44d	1	0.28mi
1127 Sargeant St Baltimore, MD	2.0	1.5	1080	$1,275	$1.18	24d	1	0.29mi
847 McHenry St Baltimore, MD	2.0	2.0	952	$1,795	$1.89	5d	1	0.31mi
1160 Washington Blvd Baltimore, MD	2.0	1.0	960	$1,575	$1.64	24d	1	0.32mi
1101 S Carey St Baltimore, MD	2.0	2.0	1400	$1,200	$0.86	22d	1	0.32mi
1601 Frederick Ave Unit 3 Baltimore, MD	2.0	1.0	1050	$1,050	$1.00	5d	1	0.33mi
1253 Sargeant St Baltimore, MD	2.0	1.5	1200	$1,695	$1.41	24d	1	0.33mi
1125 Washington Blvd Baltimore, MD	4.0	2.5	1200	$2,750	$2.29	18d	1	0.33mi
1303 James St Baltimore, MD	2.0	1.5	1160	$1,350	$1.16	24d	1	0.34mi
1163 Washington Blvd Baltimore, MD	2.0	2.5	1012	$1,700	$1.68	13d	1	0.34mi
101 N Schroeder St Baltimore, MD	3.0	1.0–2.0	1037	$3,185	$3.07	2d	12	0.35mi
1127 S Carey St Baltimore, MD	3.0	2.5	1340	$1,900	$1.42	5d	1	0.35mi
1243 Washington Blvd Baltimore, MD	3.0	2.0	1148	$1,950	$1.70	44d	1	0.37mi
1635 Frederick Ave Baltimore, MD	3.0	2.0	1224	$1,850	$1.51	44d	1	0.37mi
1259 Washington Blvd Baltimore, MD	3.0	3.0	1232	$2,999	$2.43	5d	1	0.37mi
1226 W Cross St Baltimore, MD	3.0	3.0	1551	$2,250	$1.45	44d	1	0.38mi
819 Ramsay St Baltimore, MD	4.0	3.5	1856	$3,000	$1.62	13d	1	0.41mi
1518 1/2 W Lexington St Baltimore, MD	2.0	2.0	1650	$1,200	$0.73	5d	1	0.42mi
803 McHenry St Baltimore, MD	4.0	2.5	1856	$2,599	$1.40	3d	1	0.42mi
1519 Penrose Ave Baltimore, MD	3.0	2.0	1200	$1,875	$1.56	44d	1	0.44mi
827 Washington Blvd Baltimore, MD	3.0	1.0	1512	$2,000	$1.32	24d	1	0.45mi
324 Scott St Baltimore, MD	4.0	2.5	1656	$3,000	$1.81	44d	1	0.45mi
508 Wyeth St Baltimore, MD	3.0	3.0	1234	$1,850	$1.50	44d	1	0.46mi
1205 Cleveland St Baltimore, MD	2.0	2.0	1232	$1,900	$1.54	44d	1	0.47mi
804 Hollins St Unit 1 Baltimore, MD	3.0	2.0	1800	$2,700	$1.50	5d	1	0.47mi

Listing history 12 events

1. 2026-06-18
   days on market $124,900 Active 17 DOM
2. 2026-06-17
   days on market $124,900 Active 16 DOM
3. 2026-06-16
   days on market $124,900 Active 15 DOM
4. 2026-06-15
   days on market $124,900 Active 14 DOM
5. 2026-06-13
   days on market $124,900 Active 12 DOM
6. 2026-06-09
   days on market $124,900 Active 8 DOM
7. 2026-06-08
   days on market $124,900 Active 7 DOM
8. 2026-06-07
   days on market $124,900 Active 6 DOM
9. 2026-06-04
   days on market $124,900 Active 3 DOM
10. 2026-06-03
    days on market $124,900 Active 2 DOM
11. 2026-06-02
    remarks 699-char remark
12. 2026-06-02
    listed $124,900 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: $1,409 · $117/mo
• Projected year-2 tax: $1,409 · $117/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 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: $22,111
• − Mortgage interest: −$6,996
• − Property taxes: −$1,409
• − Insurance: −$624
• − Repairs & maintenance: −$1,769
• − Management: −$1,769
• − Depreciation: −$3,633
• Taxable income: $5,910
• Est. tax owed @ 24.0%: −$1,418
• After-tax cash flow: $6,156/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

+1149.0% since first listed

7 events — show timeline

• 2026-06-01 Listed $124,900 BRIGHT MLS
• 2026-04-22 Listing Removed — BRIGHT MLS
• 2026-03-27 Listed $50,000 BRIGHT MLS
• 2025-12-18 Listing Removed — BRIGHT MLS
• 2025-11-25 Listed $50,000 BRIGHT MLS
• 2022-10-14 Listing Removed — BRIGHT MLS
• 2022-09-21 Listed $10,000 BRIGHT MLS

Property tax history

+6.5%/yr

Latest (2025): $1,409 · +0.0% YoY. Source: county tax records.