421 N Castle St · Baltimore, MD 21231

$69,900

2 bd · 1.5 ba · 1,212 sqft · Townhouse public records · 8 Days on market

Built 1900

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Walking distance to Johns Hopkins! NOT AN AUCTION, NOT A SHORT SALE, NOT A BANK OWNED, NOT A FORECLOSURE, NOT WHOLESALING---QUICK AND EASY. BUYER TO PAY ALL TRANSFER AND RECORDING FEES.

Key facts

• Built 1900
• Listed 8 days

Property features AI

Finance

• Financial info: Land assessed separately from improvements; Improvement assessed value reported; Tax assessed value and 2018 tax information available

Exterior

• Utilities: Public water; Public sewer; Hot water: other
• Home design: Interior townhouse/rowhouse; Fee simple ownership; Property needs major rehabilitation
• Construction: Brick construction; Brick/mortar foundation; Other structures above and below grade
• Exterior features: Not in a federal flood zone; No tidal water

Interior

• Bedrooms: Two bedrooms on the main level
• Bathrooms: One full bathroom (one full on main level)
• Interior features: Estimated living area; Basement present (other type)

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath townhouse listed at $70k.

Deal economics

• At list price, monthly cash flow is $842 ($10k/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 20.7% 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 (+2.3%/yr); 131 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $483 of loan paydown is wiped out by about $2k 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 + 2.3% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 8y 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: property tax is 3.9% of price; built in 1900 — 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 2.65% ✓
• Cap rate: 20.75%
• Cash-on-cash: 51.63%
• DSCR: 3.30
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $193,920
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
410 N Chester St	0.03mi	2/1.5	1,260 (+4%)	1mo	$180,000	$143	92
410 N Patterson Park Ave	0.17mi	3/1.0 (+1)	1,180 (-3%)	0mo	$180,000	$153	80
2435 Jefferson St	0.31mi	3/1.0 (+1)	1,260 (+4%)	1mo	$140,000	$111	71
325 S Castle St	0.61mi	2/1.5	1,196 (-1%)	0mo	$275,000	$230	69
2317 E Fayette St E	0.26mi	3/1.5 (+1)	1,315 (+8%)	1mo	$210,000	$160	68
145 N Milton Ave	0.38mi	2/2.0	1,353 (+12%)	1mo	$260,000	$192	60
134 N Curley St	0.69mi	2/2.0	1,170 (-4%)	1mo	$270,000	$231	59
2712 Ashland Ave	0.61mi	3/1.5 (+1)	1,164 (-4%)	1mo	$175,000	$150	59
629 N Kenwood Ave	0.59mi	2/1.5	1,100 (-9%)	1mo	$76,500	$70	56
220 N Luzerne Ave	0.41mi	3/1.0 (+1)	1,372 (+13%)	1mo	$120,000	$87	51
1009 N Washington St N	0.46mi	2/2.5	1,386 (+14%)	0mo	$235,000	$170	50
14 S Curley St	0.75mi	2/1.0	1,092 (-10%)	1mo	$269,000	$246	46

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 · 2.26% rent growth · sell at horizon

5-year hold

• IRR: 48.7%
• Equity multiple: 3.10×
• Total profit: $41,046
• Equity at exit: $10,422

10-year hold

• IRR: 53.9%
• Equity multiple: 6.10×
• Total profit: $99,723
• Equity at exit: $6,044

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 21231

• Rents YoY: 2.3%
• Active inventory: 131
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,851 high
• Mortgage (P&I): −$367
• Tax from tax record: −$224 /mo · $2,692/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $842

Break-even live

Break-even rent $785

Max offer price $69,900

Occupancy floor 50%

Sensitivity live

Price	-10% $882	-5% $862	+0% $842	+5% $822	+10% $802
Rent	-10% $696	-5% $769	+0% $842	+5% $915	+10% $988
Rate	-1.0pp $877	-0.5pp $860	base $842	+0.5pp $824	+1.0pp $805

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
406 N Collington Ave Baltimore, MD	2.0	2.5	1216	$1,875	$1.54	44d	1	0.07mi
2208 Orleans St Baltimore, MD	3.0	1.0	1310	$1,775	$1.35	44d	1	0.11mi
2308 Jefferson St Baltimore, MD	3.0	1.0	907	$1,450	$1.60	44d	1	0.20mi
108 N Madeira St Baltimore, MD	2.0	2.0	1098	$1,900	$1.73	44d	1	0.22mi
2212 E Monument St Unit 2 Baltimore, MD	2.0	1.0	1200	$1,550	$1.29	18d	1	0.22mi
32 N Chester St Unit 30-B Baltimore, MD	1.0	1.0	1300	$1,850	$1.42	18d	1	0.22mi
712 N Duncan St Baltimore, MD	2.0	1.5	1000	$2,000	$2.00	44d	1	0.23mi
420 N Montford Ave Baltimore, MD	3.0	1.0	1350	$1,450	$1.07	44d	1	0.23mi
2015 E Fairmount Ave Baltimore, MD	3.0	3.5	1402	$2,500	$1.78	44d	1	0.23mi
2317 E Fayette St Baltimore, MD	3.0	1.5	1315	$2,000	$1.52	13d	1	0.24mi
437 N Montford Ave Baltimore, MD	3.0	1.5	1100	$1,450	$1.32	44d	1	0.25mi
2242 E Fairmount Ave Baltimore, MD	3.0	2.0	1345	$2,850	$2.12	44d	1	0.25mi
618 N Montford Ave Baltimore, MD	3.0	1.0	1050	$1,468	$1.40	44d	1	0.27mi
618 N Montford Ave Baltimore, MD	3.0	1.0	1050	$1,468	$1.40	15d	1	0.27mi
2410 E Fayette St Baltimore, MD	3.0	1.0	1224	$1,800	$1.47	44d	1	0.28mi
821 N Collington Ave Baltimore, MD	3.0	2.0	1150	$1,950	$1.70	44d	1	0.30mi
402 N Milton Ave Unit 402B Baltimore, MD	2.0	1.0	950	$1,290	$1.36	44d	1	0.30mi
16 N Bradford St Baltimore, MD	2.0	3.5	930	$2,400	$2.58	5d	1	0.31mi
425 N Milton Ave Baltimore, MD	3.0	1.0	1200	$1,525	$1.27	15d	1	0.33mi
1923 Ashland Ave Baltimore, MD	2.0	2.0	862	$1,770	$2.05	20d	2	0.33mi
1923 Ashland Ave Unit 401 Baltimore, MD	2.0	2.0	850	$1,795	$2.11	21d	1	0.33mi
107 N Port St Baltimore, MD	2.0	2.0	870	$1,995	$2.29	24d	1	0.34mi
720 N Port St Baltimore, MD	2.0	1.0	950	$1,300	$1.37	44d	1	0.35mi
230 N Rose St Baltimore, MD	2.0	1.5	1200	$1,545	$1.29	44d	1	0.35mi
224 N Rose St Baltimore, MD	2.0	2.5	1120	$1,875	$1.67	18d	1	0.35mi
233 N Rose St Baltimore, MD	2.0	2.5	934	$1,750	$1.87	18d	1	0.36mi
227 N Rose St Baltimore, MD	2.0	4.0	1420	$1,600	$1.13	24d	1	0.37mi
517 N Rose St Baltimore, MD	3.0	1.0	845	$1,400	$1.66	5d	1	0.37mi
16 S Wolfe St Unit B Baltimore, MD	2.0	2.0	1014	$1,800	$1.78	18d	1	0.38mi
104 N Rose St Baltimore, MD	3.0	2.0	936	$2,500	$2.67	44d	1	0.39mi
1901 E Lombard St Baltimore, MD	1.0	1.0	702	$1,750	$2.49	44d	1	0.41mi
225 N Luzerne Ave Baltimore, MD	3.0	1.0	1198	$1,350	$1.13	19d	1	0.41mi
502 N Glover St Baltimore, MD	2.0	1.5	827	$1,250	$1.51	21d	1	0.42mi
218 N Glover St Baltimore, MD	2.0	2.0	1360	$1,750	$1.29	44d	1	0.43mi
2608 McElderry St Baltimore, MD	3.0	1.0	1144	$1,550	$1.35	24d	1	0.43mi
802 N Broadway Unit B Baltimore, MD	1.0	1.0	910	$1,800	$1.98	44d	1	0.43mi
802 N Broadway #1 Baltimore, MD	2.0	1.0	1120	$1,800	$1.61	18d	1	0.43mi
415 N Glover St Baltimore, MD	2.0	2.5	1092	$1,600	$1.47	24d	1	0.44mi
2608 E Fayette St Unit 1 Baltimore, MD	2.0	1.0	900	$1,700	$1.89	15d	1	0.44mi
108 S Durham St Baltimore, MD	1.0	1.0	1000	$1,600	$1.60	44d	1	0.44mi

Listing history 9 events

1. 2026-05-20
   listed $69,900 Active
2. 2024-02-16
   soldstatus $275,000
3. 2019-08-12
   soldstatus $6,319
4. 2018-11-15
   soldstatus $355,000
5. 2018-11-03
   historical
6. 2018-11-02
   listed $85,000
7. 2018-11-01
   soldstatus $85,000
8. 2006-07-25
   soldstatus $84,000
9. 1985-07-25
   soldstatus $7,500

ⓘ 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: $2,692 · $224/mo
• Projected year-2 tax: $2,692 · $224/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: $22,208
• − Mortgage interest: −$3,915
• − Property taxes: −$2,692
• − Insurance: −$350
• − Repairs & maintenance: −$1,777
• − Management: −$1,777
• − Depreciation: −$2,033
• Taxable income: $9,664
• Est. tax owed @ 24.0%: −$2,319
• After-tax cash flow: $7,785/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): 14,969
• Household income: $85,254
• Rent vs Own: 65.8% rent · 34.2% own
• Severe rent burden: 1147.0

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 53% Black 29% Hispanic / Latino 9% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Romanian 6% Slovak 2% Lithuanian 2%
• Foreign-born: 10% · Canada, China, South Korea
• Languages at home: 85% English-only · Spanish 6% 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: ▼ -545.26%
• Current HPI: 351.3778
• Rent YoY: ▲ 2.26%
• 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

+832.0% since first listed

9 events — show timeline

• 2026-05-20 Listed $69,900 BRIGHT MLS
• 2024-02-16 Sold (Public Records) $275,000 Public Records
• 2019-08-12 Sold (Public Records) $6,319 Public Records
• 2018-11-15 Sold (Public Records) $355,000 Public Records
• 2018-11-03 Listing Removed — BRIGHT MLS
• 2018-11-02 Listed $85,000 BRIGHT MLS
• 2018-11-01 Sold (MLS) $85,000 BRIGHT MLS
• 2006-07-25 Sold (Public Records) $84,000 Public Records
• 1985-07-25 Sold (Public Records) $7,500 Public Records

Property tax history

+4.5%/yr

Latest (2025): $2,692 · +4.2% YoY. Source: county tax records.