5218 Ivanhoe Ave · Baltimore, MD 21212

$169,900

3 bd · 2.0 ba · 1,080 sqft · Townhouse public records · 48 Days on market

Built 1924 7,840 sqft lot $157/sqft · at area comps Est $172k · at est.

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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 +24.0/30.0
• ARV discount +8.0/15.0
• DSCR +7.7/10.0
• 1% rule +5.5/10.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Attention First Time Home buyers. .. .. Welcome to this BEAUTIFUL 3 bedroom 2 full bath home. Conveniently located with easy access to all things Baltimore! Move In ready, freshly painted, ceiling fans and original hardwood floors throughout. The kitchen has a balcony with a view of the open grassy public area and children's playground . The upper level includes three bedrooms and a full bath. The unfinished lower level has another full bathroom and has a ground level exit to the rear fenced yard. The basement can be finished out for additional living/entertaining space. Don't miss this one. It won't last.

Key facts

• Rear fenced yard
• Balcony with a view
• Built 1924

Tags

• BALCONY WITH A VIEW
• REAR FENCED YARD

Property features AI

Finance

• Other: Total below-grade area: 540 (unfinished); Above-grade finished area source: Assessor; Below-grade unfinished area source: Assessor; Year built source: Assessor

Exterior

• Parking: On-street parking; Other parking
• Utilities: Public water; Public sewer; Natural gas hot water
• Home design: Interior townhouse/rowhouse; Fee simple ownership
• Construction: Brick construction; Block foundation; Double-hung and double-pane replacement windows; Skylights
• Exterior features: Not in a federal flood zone; Above grade and below grade structures

Interior

• Kitchen: Built-in microwave; Electric oven/range
• Bedrooms: 3 bedrooms on the first upper level
• Flooring: Wood floors
• Bathrooms: 2 full bathrooms (1 on upper level, 1 on lower level)
• Heating & cooling: Radiator heating (natural gas); Ceiling fans for cooling (electric)
• Interior features: Ceiling fans; Dining area; Traditional floor plan; Skylights; Wood floors

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $170k.

Deal economics

• At list price, monthly cash flow is $333 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $165k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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 (+4.7%/yr); 133 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; solid renter incomes; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 + 4.7% rent growth), your $48k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 25y ago; this cycle's ask has dropped $20k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $10k; list at $170k implies a 1688% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $164,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 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 1924 — 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: 1.05% ✓
• Cap rate: 8.65%
• Cash-on-cash: 8.40%
• DSCR: 1.37
• GRM: 8.0

CMA / ARV

• ARV (median comp): $171,882
• List price: $169,900
• Delta: -1.15%
• 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
812 Mccabe Ave	0.06mi	3/1.0	1,080 (0%)	1mo	$150,000	$139	92
1018 Cameron Rd	0.38mi	2/2.0 (-1)	1,032 (-4%)	1mo	$169,000	$164	69
4811 Kimberleigh Rd	0.40mi	3/1.5	1,024 (-5%)	4mo	$240,000	$234	67
355 Homeland Southway Unit 2B	0.45mi	2/1.5 (-1)	1,043 (-3%)	0mo	$205,000	$197	66
380 Homeland Southway Unit 3A	0.51mi	2/2.0 (-1)	1,066 (-1%)	3mo	$225,000	$211	66
365 Homeland Southway Unit 2B	0.52mi	2/2.0 (-1)	1,061 (-2%)	4mo	$240,000	$226	64
5627 Ready Ave	0.43mi	3/2.0	1,186 (+10%)	3mo	$95,400	$80	61
327 Homeland Southway Unit 3B	0.58mi	2/2.0 (-1)	1,055 (-2%)	4mo	$199,990	$190	60
800 Radnor Ave	0.38mi	3/1.5	1,224 (+13%)	2mo	$99,900	$82	56
634 Willow Ave	0.60mi	2/1.0 (-1)	986 (-9%)	4mo	$90,000	$91	45
1312 E Cold Spring Ln	0.73mi	3/1.0	1,216 (+13%)	1mo	$147,000	$121	40
1324 Crofton Rd	0.69mi	3/1.5	1,240 (+15%)	4mo	$235,000	$190	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 · 4.65% rent growth · sell at horizon

5-year hold

• IRR: -1.8%
• Equity multiple: 0.93×
• Total profit: $-3,348
• Equity at exit: $25,333

10-year hold

• IRR: 9.4%
• Equity multiple: 1.78×
• Total profit: $36,995
• Equity at exit: $14,690

Cash invested: $47,572 (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 21212

• Rents YoY: 4.7%
• Active inventory: 133
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,778 high
• Mortgage (P&I): −$891
• Tax from tax record: −$110 /mo · $1,319/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $333

Break-even live

Break-even rent $1,357

Max offer price $169,900

Occupancy floor 76%

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
711 1/2 McCabe Ave Baltimore, MD	4.0	3.0	1204	$2,350	$1.95	4d	1	0.10mi
5200 Ready Ave Baltimore, MD	3.0	1.5	1116	$1,950	$1.75	3d	1	0.17mi
543 Chateau Ave Baltimore, MD	3.0	2.0	1152	$1,900	$1.65	4d	1	0.23mi
5307 York Rd Baltimore, MD	2.0	1.0	1120	$1,200	$1.07	43d	1	0.26mi
5001 Midwood Ave Apt 2A Baltimore, MD	2.0	1.0	750	$1,265	$1.69	43d	1	0.32mi
1006 Cameron Rd Baltimore, MD	2.0	1.0	1032	$950	$0.92	43d	1	0.36mi
1221 Glenwood Ave Baltimore, MD	3.0	2.0	1390	$2,595	$1.87	43d	1	0.40mi
416 Winston Ave Unit 426-01 Baltimore, MD	2.0	1.0	890	$1,250	$1.40	43d	1	0.41mi
416 Winston Ave Unit 426-08 Baltimore, MD	2.0	1.0	790	$1,050	$1.33	23d	1	0.41mi
5618 Midwood Ave Unit 1 Baltimore, MD	2.0	1.0	800	$1,250	$1.56	23d	1	0.41mi
5622 Midwood Ave Baltimore, MD	3.0	2.0	1452	$2,300	$1.58	43d	1	0.42mi
5626 Midwood Ave Unit 2 Baltimore, MD	2.0	1.0	1452	$1,100	$0.76	23d	1	0.43mi
818 Bradhurst Rd Baltimore, MD	2.0	1.0	1216	$1,250	$1.03	43d	1	0.43mi
818 Bradhurst Rd Baltimore, MD	2.0	1.0	1216	$1,350	$1.11	3d	1	0.43mi
1224 Winston Ave Baltimore, MD	3.0	2.0	1248	$2,100	$1.68	17d	1	0.46mi
1275 Kitmore Rd Unit 1276B-A Baltimore, MD	2.0	1.0	812	$1,360	$1.67	43d	1	0.48mi
1275 Kitmore Rd Unit 1248B-A Baltimore, MD	2.0	1.0	812	$1,360	$1.67	4d	1	0.48mi
1275 Kitmore Rd Unit 1262B-A Baltimore, MD	2.0	1.0	923	$1,320	$1.43	2d	1	0.48mi
1275 Kitmore Rd Unit 1260K-T Baltimore, MD	2.0	1.0	811	$1,410	$1.74	4d	1	0.48mi
1275 Kitmore Rd Unit 1245K-T Baltimore, MD	3.0	1.0	935	$1,895	$2.03	4d	1	0.48mi
1275 Kitmore Rd Unit 1215B-T Baltimore, MD	2.0	1.0	811	$1,435	$1.77	4d	1	0.48mi
1275 Kitmore Rd Unit 1263K-T Baltimore, MD	2.0	1.0	811	$1,485	$1.83	4d	1	0.48mi
1275 Kitmore Rd Unit 1259K-T Baltimore, MD	2.0	1.0	811	$1,535	$1.89	4d	1	0.48mi
1275 Kitmore Rd Unit 1221B-T Baltimore, MD	2.0	1.0	811	$1,560	$1.92	23d	1	0.48mi
1275 Kitmore Rd Unit 1267K-T Baltimore, MD	2.0	1.0	827	$1,585	$1.92	43d	1	0.48mi
1275 Kitmore Rd Baltimore, MD	2.0	1.0	827	$1,525	$1.84	43d	1	0.48mi
1090 Cameron Rd Baltimore, MD	2.0	1.0	832	$1,675	$2.01	3d	1	0.48mi
1260 Rossiter Ave Baltimore, MD	2.0	1.0	710	$1,250	$1.76	1d	37	0.52mi
835 E Cold Spring Ln Baltimore, MD	2.0	1.5	997	$1,400	$1.40	23d	1	0.53mi
531 Willow Ave Unit Na Baltimore, MD	4.0	1.0	1300	$1,800	$1.38	20d	1	0.60mi
4407 Old York Rd Baltimore, MD	3.0	1.5	1356	$1,574	$1.16	20d	1	0.65mi
4407 Old York Rd Baltimore, MD	3.0	1.5	1356	$1,574	$1.16	43d	1	0.65mi
917 Reverdy Rd Unit A Baltimore, MD	3.0	1.0	1200	$2,100	$1.75	43d	1	0.70mi
5307 Leith Rd Baltimore, MD	2.0	1.0	630	$1,350	$2.14	12d	1	0.77mi
720 Springfield Ave Baltimore, MD	3.0	1.0	1160	$2,000	$1.72	43d	1	0.79mi
815 Gilrubin Ct Baltimore, MD	2.0	1.0	900	$1,695	$1.88	43d	1	0.80mi
812 Nat Ct Apt 12 Baltimore, MD	2.0	1.0	900	$1,295	$1.44	43d	1	0.80mi
1111 Gleneagle Rd Unit 2 Baltimore, MD	2.0	1.0	1452	$1,050	$0.72	43d	1	0.89mi
5664 Woodmont Ave Baltimore, MD	1.0–2.0	1.0	710	$1,175	$1.65	3d	10	0.90mi
1106 Gleneagle Rd Unit 2 Baltimore, MD	2.0	1.0	1100	$1,450	$1.32	43d	1	0.90mi

Listing history 34 events

1. 2026-06-18
   days on market $169,900 Active 48 DOM
2. 2026-06-17
   days on market $169,900 Active 47 DOM
3. 2026-06-16
   days on market $169,900 Active 46 DOM
4. 2026-06-15
   days on market $169,900 Active 45 DOM
5. 2026-06-13
   days on market $169,900 Active 43 DOM
6. 2026-06-09
   days on market $169,900 Active 39 DOM
7. 2026-06-08
   days on market $169,900 Active 38 DOM
8. 2026-06-07
   days on market $169,900 Active 37 DOM
9. 2026-06-04
   days on market $169,900 Active 34 DOM
10. 2026-06-03
    days on market $169,900 Active 33 DOM
11. 2026-06-02
    days on market $169,900 Active 32 DOM
12. 2026-06-01
    days on market $169,900 Active 31 DOM
13. 2026-05-31
    days on market $169,900 Active 30 DOM
14. 2026-05-09
    price $1,800
15. 2026-05-08
    price $179,900 614-char remark
16. 2026-05-01
    listed $189,900 Active 614-char remark
17. 2026-04-29
    price $1,900
18. 2026-03-25
    price $1,800
19. 2026-01-22
    price $2,200
20. 2025-11-19
    price $1,850
21. 2025-11-16
    listed $1,500
22. 2019-02-15
    historical
23. 2019-01-15
    price $97,000
24. 2018-12-11
    listed $104,900 Active
25. 2018-07-09
    historical
26. 2018-07-09
    historical Temporarily Off-Market
27. 2018-05-23
    price $99,000
28. 2018-05-23
    price
29. 2018-04-11
    listed $107,800 Active
30. 2018-04-11
    listed Active
31. 2001-08-31
    soldstatus $9,500
32. 2001-07-03
    historical
33. 2001-03-22
    listed $9,900
34. 2000-03-20
    soldstatus $45,000

ⓘ 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: $1,319 · $110/mo
• Projected year-2 tax: $1,586 · $132/mo
• Expected delta: +$266/yr (+$22/mo · 20.2%)

ⓘ 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 6/10 Major 7 d/yr ≥103°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,339
• − Mortgage interest: −$9,517
• − Property taxes: −$1,319
• − Insurance: −$850
• − Repairs & maintenance: −$1,707
• − Management: −$1,707
• − Depreciation: −$4,943
• Taxable income: $1,297
• Est. tax owed @ 24.0%: −$311
• After-tax cash flow: $3,687/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): 33,974
• Household income: $96,685
• Rent vs Own: 31.2% rent · 68.8% own
• Severe rent burden: 769.0

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 0.64)
• Race & ethnicity: White 49% Black 35% Two or more races 9% Hispanic / Latino 7% Asian 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1%
• Common ancestry: Romanian 3% Italian 2% Slovak 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 87% English-only · Spanish 5% Other Indo-European 2% 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: ▼ -392.44%
• Current HPI: 267.4569
• Rent YoY: ▲ 4.65%
• 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

-96.2% since first listed

23 events — show timeline

• 2026-05-28 Price Changed $1,700 BRIGHTMLS
• 2026-05-28 Price Changed $169,900 BRIGHT MLS
• 2026-05-09 Price Changed $1,800 BRIGHTMLS
• 2026-05-08 Price Changed $179,900 BRIGHT MLS
• 2026-05-01 Listed $189,900 BRIGHT MLS
• 2026-04-29 Price Changed $1,900 BRIGHTMLS
• 2026-03-25 Price Changed $1,800 BRIGHTMLS
• 2026-01-22 Price Changed $2,200 BRIGHTMLS
• 2025-11-19 Price Changed $1,850 BRIGHTMLS
• 2025-11-16 Listed for Rent $1,500 BRIGHTMLS
• 2019-02-15 Listing Removed — BRIGHT MLS
• 2019-01-15 Price Changed $97,000 BRIGHT MLS
• 2018-12-11 Listed $104,900 BRIGHT MLS
• 2018-07-09 Delisted — MRIS
• 2018-07-09 Listing Removed — BRIGHT MLS
• 2018-05-23 Price Changed $99,000 BRIGHT MLS
• 2018-05-23 Price Changed — MRIS
• 2018-04-11 Listed — MRIS
• 2018-04-11 Listed $107,800 BRIGHT MLS
• 2001-08-31 Sold (MLS) $9,500 MRIS
• 2001-07-03 Delisted — MRIS
• 2001-03-22 Listed $9,900 MRIS
• 2000-03-20 Sold (Public Records) $45,000 Public Records

Property tax history

-2.2%/yr

Latest (2025): $1,319 · +12.1% YoY. Source: county tax records.