6537 Parnell · Baltimore, MD 21222

$140,000

2 bd · 1.0 ba · 790 sqft · Townhouse public records · 43 Days on market

Built 1920 1,667 sqft lot $177/sqft · at area comps Est $138k · 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 +23.2/30.0
• DSCR +7.4/10.0
• ARV discount +6.7/15.0
• 1% rule +5.6/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Completely remodeled Townhouse in Dundalk. All new paint throughout the house. New hardwood floor. New HVAC. It won't last long, so hurry and bring your offer.

Key facts

• Office space
• Flex area
• Full bath

Tags

• DEFINED LIVING SPACES
• DEFINED DINING SPACES
• ADEQUATELY SIZED BEDROOMS
• FULL BATH
• OFFICE SPACE
• FLEX AREA

Property features AI

Exterior

• Parking: Three total garage and parking spaces; Three driveway spaces; Concrete driveway; Off-street parking
• Utilities: Public water; Public sewer; Natural gas hot water; Cooling uses natural gas; Electric heating
• Home design: Interior townhouse/rowhouse; Fee simple ownership
• Construction: Frame construction; Other foundation; Above-grade and below-grade structures; Built year reported by assessor
• Exterior features: Level entry at main entrance; Not in a federal flood zone

Interior

• Kitchen: Gas oven/range; Refrigerator
• Bedrooms: Two bedrooms on the first upper level
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Combination kitchen/dining; Unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $140k.

Deal economics

• At list price, monthly cash flow is $253 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $140k).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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 soft (-0.1%/yr); 236 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 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.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 23y 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 $135,800 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 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 1920 — 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: 1.06% ✓
• Cap rate: 8.46%
• Cash-on-cash: 7.75%
• DSCR: 1.34
• GRM: 7.9

CMA / ARV

• ARV (median comp): $137,606
• List price: $140,000
• Delta: 1.74%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6583 Saint Helena Ave	0.07mi	3/2.0 (+1)	819 (+4%)	5mo	$204,000	$249	78
6562 Saint Helena Ave	0.08mi	2/1.0	840 (+6%)	17mo	$153,000	$182	71
6552 Parnell Ave	0.03mi	2/1.5	885 (+12%)	9mo	$95,000	$107	69
111 Baltimore Ave	0.27mi	2/1.0	808 (+2%)	24mo	$159,900	$198	64
209 Colgate Ave	0.22mi	2/1.0	904 (+14%)	15mo	$135,000	$149	53
73 N Dundalk Ave	0.33mi	2/2.0	864 (+9%)	17mo	$145,000	$168	51
7 Broadship	0.41mi	2/1.0	864 (+9%)	21mo	$200,000	$231	48
106 Baltimore	0.24mi	2/1.0	906 (+15%)	22mo	$150,000	$166	46
20 Eastship Rd	0.61mi	3/1.0 (+1)	864 (+9%)	22mo	$130,000	$150	33

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -7.8%
• Equity multiple: 0.72×
• Total profit: $-10,902
• Equity at exit: $20,874

10-year hold

• IRR: -2.4%
• Equity multiple: 0.86×
• Total profit: $-5,514
• Equity at exit: $12,105

Cash invested: $39,200 (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 21222

• Rents YoY: -0.1%
• Active inventory: 236
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,479 high
• Mortgage (P&I): −$734
• Tax from tax record: −$122 /mo · $1,468/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $253

Break-even live

Break-even rent $1,158

Max offer price $140,000

Occupancy floor 78%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6552 Parnell Ave Dundalk, MD	2.0	1.5	885	$1,500	$1.69	17d	1	0.05mi
6545 Baltimore Ave Dundalk, MD	2.0	1.0	852	$1,500	$1.76	43d	1	0.08mi
3 Center Pl Unit 2 Dundalk, MD	1.0	1.0	700	$1,250	$1.79	43d	1	0.48mi
2125 Cameron Dr Dundalk, MD	1.0–2.0	1.0	697	$1,350	$1.94	43d	9	0.51mi
113 Kinship Rd Unit 115Kin-1A Dundalk, MD	1.0	1.0	525	$1,150	$2.19	14d	1	0.53mi
113 Kinship Rd Unit 117Kin-1B Dundalk, MD	1.0	1.0	525	$1,000	$1.90	12d	1	0.53mi
113 Kinship Rd Unit 124Kin-1A Dundalk, MD	1.0	1.0	525	$1,000	$1.90	43d	1	0.53mi
113 Kinship Rd Unit 131 Will-2B Dundalk, MD	1.0	1.0	525	$1,150	$2.19	43d	1	0.53mi
2104 Willow Spring Rd Unit 6727THR-1 Dundalk, MD	1.0	1.0	615	$899	$1.46	43d	1	0.55mi
2104 Willow Spring Rd Dundalk, MD	1.0	1.0	539	$1,038	$1.92	3d	2	0.55mi
7003 Dunmanway Dundalk, MD	1.0–2.0	1.0	772	$1,345	$1.74	1d	13	0.67mi
2624 Liberty Pkwy Dundalk, MD	3.0	1.5	1110	$1,856	$1.67	43d	1	0.68mi
2907 Cornwall Rd Unit Road2nd Dundalk, MD	1.0	1.0	750	$950	$1.27	17d	1	0.84mi
2939 Cornwall Rd Unit C Dundalk, MD	1.0	1.0	700	$900	$1.29	43d	1	0.87mi
2976 Cornwall Rd Unit 1 Dundalk, MD	2.0	1.0	900	$1,590	$1.77	14d	1	0.89mi
3117 Liberty Pkwy Unit 1 Dundalk, MD	1.0	1.0	600	$1,200	$2.00	23d	1	0.98mi
3443 Dunhaven Rd Dundalk, MD	2.0	2.0	1016	$1,900	$1.87	5d	1	1.01mi
6518 Brown Ave Baltimore, MD	1.0–2.0	1.0	675	$1,300	$1.93	23d	3	1.05mi
6722 Brentwood Ave Unit 2FL Dundalk, MD	3.0	1.0	900	$1,750	$1.94	43d	1	1.05mi
6722 Brentwood Ave Unit B Dundalk, MD	1.0	1.0	540	$1,500	$2.78	43d	1	1.05mi
3481 McShane Way Dundalk, MD	2.0	1.5	896	$2,150	$2.40	43d	1	1.10mi
1955 Walnut Ave Dundalk, MD	3.0	1.0	950	$2,300	$2.42	43d	1	1.13mi
1613 Elrino St Baltimore, MD	2.0	1.0	700	$1,350	$1.93	43d	1	1.16mi
1504 Elrino St Baltimore, MD	2.0	2.0	1050	$1,650	$1.57	4d	1	1.32mi
108 Chestnut St Dundalk, MD	2.0	1.0	812	$1,300	$1.60	16d	1	1.36mi
3503 Sollers Point Rd Dundalk, MD	3.0	1.0	776	$1,850	$2.38	12d	1	1.40mi
7718 Meath Rd Dundalk, MD	3.0	2.0	864	$2,200	$2.55	43d	1	1.48mi

Listing history 36 events

1. 2026-06-18
   days on market $140,000 Active 43 DOM
2. 2026-06-17
   days on market $140,000 Active 42 DOM
3. 2026-06-16
   days on market $140,000 Active 41 DOM
4. 2026-06-15
   days on market $140,000 Active 40 DOM
5. 2026-06-13
   days on market $140,000 Active 38 DOM
6. 2026-06-09
   days on market $140,000 Active 34 DOM
7. 2026-06-08
   days on market $140,000 Active 33 DOM
8. 2026-06-07
   days on market $140,000 Active 32 DOM
9. 2026-06-04
   days on market $140,000 Active 29 DOM
10. 2026-06-03
    days on market $140,000 Active 28 DOM
11. 2026-06-02
    days on market $140,000 Active 27 DOM
12. 2026-06-01
    days on market $140,000 Active 26 DOM
13. 2026-05-31
    days on market $140,000 Active 25 DOM
14. 2026-05-07
    listed $140,000 Active 1274-char remark
15. 2022-12-06
    soldstatus $129,000
16. 2022-10-12
    soldstatus $129,000 Closed 159-char remark

    Show marketing remark (159 chars)

    Completely remodeled Townhouse in Dundalk. All new paint throughout the house. New hardwood floor. New HVAC. It won't last long, so hurry and bring your offer.

17. 2022-08-12
    status Pending 159-char remark

    Show marketing remark (159 chars)

    Completely remodeled Townhouse in Dundalk. All new paint throughout the house. New hardwood floor. New HVAC. It won't last long, so hurry and bring your offer.

18. 2022-07-12
    price $129,000 159-char remark

    Show marketing remark (159 chars)

    Completely remodeled Townhouse in Dundalk. All new paint throughout the house. New hardwood floor. New HVAC. It won't last long, so hurry and bring your offer.

19. 2022-06-24
    price $145,000 159-char remark

    Show marketing remark (159 chars)

    Completely remodeled Townhouse in Dundalk. All new paint throughout the house. New hardwood floor. New HVAC. It won't last long, so hurry and bring your offer.

20. 2022-06-17
    listed $159,000 Active 159-char remark

    Show marketing remark (159 chars)

    Completely remodeled Townhouse in Dundalk. All new paint throughout the house. New hardwood floor. New HVAC. It won't last long, so hurry and bring your offer.

21. 2022-05-01
    historical
22. 2022-04-14
    listed $125,000 Active
23. 2017-11-09
    soldstatus $49,500
24. 2017-11-03
    soldstatus $49,500 Closed
25. 2017-11-03
    soldstatus $49,500 Sold
26. 2017-09-28
    status Contract
27. 2017-08-30
    price $20,000
28. 2017-08-15
    listed $35,000 Active
29. 2016-12-30
    soldstatus $20,500
30. 2016-12-30
    soldstatus $20,500 Sold
31. 2016-12-28
    status Contract
32. 2016-11-02
    listed $45,000 Active
33. 2005-08-23
    soldstatus $75,000
34. 2003-04-30
    soldstatus $20,000
35. 2003-03-17
    historical
36. 2003-01-08
    listed $30,000

ⓘ 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: $1,468 · $122/mo
• Projected year-2 tax: $1,497 · $125/mo
• Expected delta: +$29/yr (+$2/mo · 2.0%)

ⓘ 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 ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,742
• − Mortgage interest: −$7,842
• − Property taxes: −$1,468
• − Insurance: −$700
• − Repairs & maintenance: −$1,419
• − Management: −$1,419
• − Depreciation: −$4,073
• Taxable income: $821
• Est. tax owed @ 24.0%: −$197
• After-tax cash flow: $2,841/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 County · 769,527 people
• City population: 588,727
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 59,407
• Household income: $64,141
• Rent vs Own: 35.1% rent · 64.9% own
• Severe rent burden: 2566.0

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 0.60)
• Race & ethnicity: White 59% Black 18% Hispanic / Latino 15% Two or more races 7% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Romanian 7% Lithuanian 1% Italian 1%
• Foreign-born: 9% · Canada
• Languages at home: 85% English-only · Spanish 11% Other Indo-European 2% Arabic 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: ▼ -251.44%
• Current HPI: 228.4218
• Rent YoY: ▼ -0.09%
• 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

+366.7% since first listed

23 events — show timeline

• 2026-05-07 Listed $140,000 BRIGHT MLS
• 2022-12-06 Sold (Public Records) $129,000 Public Records
• 2022-10-12 Sold (MLS) $129,000 BRIGHT MLS
• 2022-08-12 Pending — BRIGHT MLS
• 2022-07-12 Price Changed $129,000 BRIGHT MLS
• 2022-06-24 Price Changed $145,000 BRIGHT MLS
• 2022-06-17 Listed $159,000 BRIGHT MLS
• 2022-05-01 Listing Removed — BRIGHT MLS
• 2022-04-14 Listed $125,000 BRIGHT MLS
• 2017-11-09 Sold (Public Records) $49,500 Public Records
• 2017-11-03 Sold (MLS) $49,500 MRIS
• 2017-11-03 Sold (MLS) $49,500 BRIGHT MLS
• 2017-09-28 Pending — MRIS
• 2017-08-30 Price Changed $20,000 MRIS
• 2017-08-15 Listed $35,000 MRIS
• 2016-12-30 Sold (MLS) $20,500 MRIS
• 2016-12-30 Sold (MLS) $20,500 BRIGHT MLS
• 2016-12-28 Pending — MRIS
• 2016-11-02 Listed $45,000 MRIS
• 2005-08-23 Sold (Public Records) $75,000 Public Records
• 2003-04-30 Sold (MLS) $20,000 MRIS
• 2003-03-17 Delisted — MRIS
• 2003-01-08 Listed $30,000 MRIS

Property tax history

+0.2%/yr

Latest (2025): $1,468 · +6.2% YoY. Source: county tax records.