2722 Baker St · Baltimore, MD 21216

$121,900

3 bd · 2.0 ba · 1,040 sqft · Townhouse · 55 Days on market

Built 1920 $117/sqft · at area comps Est $127k · at est.

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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
• DSCR +10.0/10.0
• ARV discount +9.4/15.0
• 1% rule +8.4/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Fantastic opportunity to purchase at an affordable price. Very strong potential. Ideal for investors or first‑time buyers looking to own for less than current rent payments. This 3‑bedroom, 2‑bath home offers solid space and the chance to add your personal touch with a bit of TLC. A great value with room to build equity. Come and make this home truly yours.

Key facts

• Built 1920
• Listed 55 days

Property features AI

Finance

• Financial info: Ownership: Ground rent; Ground rent $120 paid annually

Exterior

• Parking: On-street parking
• Utilities: Natural gas hot water; Natural gas heating; Public water; Public sewer
• Home design: Interior townhouse/rowhouse; Estimated year built (effective remodel 2010)
• Construction: Brick and combination construction; Permanent foundation; Other structures above grade
• Exterior features: Public water and public sewer; Ground rent $120 annually; Below-grade area (unfinished): 520; Above-grade finished area: 1,040

Interior

• Bedrooms: 3 bedrooms on the first upper level
• Bathrooms: 2 full bathrooms (1 on main level, 1 on first upper level)
• Heating & cooling: Forced air heating; Cooling: Other
• Interior features: Combination kitchen and living area; Dining area; Partially finished basement with connecting stairway and rear entrance

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $122k.

Deal economics

• At list price, monthly cash flow is $440 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $122k).
• Recommended offer: $118k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.2% 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 (+6.1%/yr); 252 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• At $1,637/mo this rent would consume 47% of the median local household income ($42k/yr) (locally 2264% 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 $843 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 + 6.1% rent growth), your $34k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 20y ago; this cycle's ask has dropped $13k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $12k; list at $122k implies a 875% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; 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 $118,243 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.34% ✓
• Cap rate: 11.17%
• Cash-on-cash: 17.42%
• DSCR: 1.78
• GRM: 6.2

CMA / ARV

• ARV (median comp): $127,272
• List price: $121,900
• Delta: -4.22%
• 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
2727 Baker St	0.03mi	3/1.0	1,116 (+7%)	3mo	$125,000	$112	80
1635 N Warwick Ave N	0.26mi	3/1.5	1,064 (+2%)	5mo	$70,000	$66	78
2952 Presstman St	0.31mi	3/1.0	980 (-6%)	1mo	$60,000	$61	71
2210 Ashburton St	0.45mi	2/1.0 (-1)	1,024 (-2%)	2mo	$90,000	$88	66
1541 N Pulaski St	0.57mi	3/1.0	1,100 (+6%)	3mo	$115,000	$105	57
1705 N Payson St	0.65mi	3/1.5	1,100 (+6%)	5mo	$38,000	$35	54
3224 Normount Ave	0.60mi	3/2.0	1,134 (+9%)	5mo	$87,450	$77	53
907 N Rosedale St	0.69mi	3/1.0	1,088 (+5%)	4mo	$90,000	$83	52
910 N Dukeland St	0.54mi	2/1.0 (-1)	960 (-8%)	4mo	$31,000	$32	50
1218 N Longwood St	0.44mi	4/2.0 (+1)	1,190 (+14%)	2mo	$56,000	$47	48
3224 Belmont Ave	0.58mi	3/1.5	1,178 (+13%)	1mo	$77,000	$65	48
2507 Riggs Ave	0.47mi	2/1.0 (-1)	896 (-14%)	4mo	$45,100	$50	43

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 · 6.1% rent growth · sell at horizon

5-year hold

• IRR: 9.7%
• Equity multiple: 1.40×
• Total profit: $13,562
• Equity at exit: $18,176

10-year hold

• IRR: 21.3%
• Equity multiple: 3.08×
• Total profit: $71,044
• Equity at exit: $10,540

Cash invested: $34,132 (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 21216

• Rents YoY: 6.1%
• Active inventory: 252
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,637 high
• Mortgage (P&I): −$639
• Tax from tax record: −$108 /mo · $1,297/yr
• Insurance: −$51
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $440

Break-even live

Break-even rent $1,081

Max offer price $121,900

Occupancy floor 68%

Sensitivity live

Price	-10% $509	-5% $474	+0% $440	+5% $405	+10% $371
Rent	-10% $311	-5% $375	+0% $440	+5% $505	+10% $569
Rate	-1.0pp $501	-0.5pp $471	base $440	+0.5pp $408	+1.0pp $376

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: $30,475
• Closing costs: $3,657
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2800 Presstman St Baltimore, MD	3.0	2.5	1460	$1,799	$1.23	24d	1	0.13mi
2636 W North Ave Baltimore, MD	2.0–3.0	1.0–2.0	975	$1,475	$1.51	5d	1	0.27mi
2728 Winchester St Baltimore, MD	3.0	1.5	1260	$1,800	$1.43	4d	1	0.30mi
3003 Presstman St Unit 1 Baltimore, MD	2.0	2.0	1450	$1,400	$0.97	45d	1	0.32mi
3003 Presstman St Unit 2 Baltimore, MD	2.0	1.0	1450	$1,300	$0.90	24d	1	0.32mi
1617-A Moreland Ave Unit 2nd Flr Baltimore, MD	2.0	1.0	1500	$1,400	$0.93	44d	1	0.35mi
1617 Moreland Ave Baltimore, MD	2.0	1.0	900	$1,450	$1.61	24d	1	0.35mi
3003 W North Ave Baltimore, MD	1.0–2.0	1.0	841	$935	$1.11	3d	3	0.36mi
2806 Riggs Ave Baltimore, MD	3.0	2.5	1412	$1,900	$1.35	4d	1	0.39mi
3127 Baker St Baltimore, MD	3.0	1.0	1000	$1,300	$1.30	44d	1	0.43mi
2744 W Mosher St Baltimore, MD	4.0	2.0	1412	$2,100	$1.49	24d	1	0.45mi
1816 N Bentalou St Baltimore, MD	3.0	2.0	1350	$1,700	$1.26	11d	1	0.46mi
1816 N Bentalou St Baltimore, MD	3.0	2.0	1350	$1,700	$1.26	24d	1	0.46mi
1042 Ellicott Dr Baltimore, MD	2.0	1.0	900	$1,450	$1.61	44d	1	0.54mi
3309 Brighton St Baltimore, MD	3.0	1.0	1134	$1,700	$1.50	44d	1	0.57mi
2301 Riggs Ave Baltimore, MD	3.0	2.0	1072	$1,600	$1.49	24d	1	0.57mi
3238 Westmont Ave Baltimore, MD	3.0	1.0	1280	$1,600	$1.25	44d	1	0.59mi
3017 Poplar Ter Baltimore, MD	2.0	1.0	880	$1,349	$1.53	24d	1	0.60mi
2204 Clifton Ave Baltimore, MD	3.0	1.0	1400	$1,450	$1.04	5d	1	0.61mi
918 N Bentalou St Baltimore, MD	3.0	1.5	1485	$1,750	$1.18	44d	1	0.65mi
1501 N Payson St Baltimore, MD	3.0	1.0	1400	$1,550	$1.11	44d	1	0.68mi
1930 N Payson St Baltimore, MD	2.0	2.0	980	$1,500	$1.53	24d	1	0.71mi
2303 Calverton Heights Ave Baltimore, MD	4.0	2.0	1314	$2,250	$1.71	24d	1	0.72mi
3015 Rayner Ave Baltimore, MD	3.0	1.0	1152	$1,350	$1.17	44d	1	0.73mi
1722 N Monroe St Baltimore, MD	3.0	1.5	1000	$1,350	$1.35	24d	1	0.75mi
2601 Fairview Ave Baltimore, MD	2.0	1.0	700	$1,099	$1.57	44d	1	0.79mi
3028 Hanlon Ave Baltimore, MD	3.0	2.0	1200	$1,711	$1.43	24d	1	0.82mi
2636 Lauretta Ave Baltimore, MD	3.0	2.5	1232	$1,900	$1.54	44d	1	0.83mi
1914 Mosher St Unit 1914 Baltimore, MD	4.0	2.5	1200	$1,700	$1.42	44d	1	0.85mi
2609 Lauretta Ave Baltimore, MD	3.0	1.0	1286	$1,675	$1.30	24d	1	0.85mi
3407 Elgin Ave Unit 5 Baltimore, MD	2.0	1.0	800	$1,250	$1.56	44d	1	0.86mi
1433 N Fulton Ave Baltimore, MD	2.0	1.0	1200	$1,500	$1.25	44d	1	0.87mi
1729 N Fulton Ave Baltimore, MD	3.0	2.0	1081	$1,795	$1.66	44d	1	0.87mi
3514 Clifton Ave Unit 21 Baltimore, MD	2.0	1.0	925	$1,150	$1.24	44d	1	0.91mi
3514 Clifton Ave Baltimore, MD	2.0	1.0	925	$1,199	$1.30	44d	1	0.91mi
798 N Grantley St Baltimore, MD	3.0	2.0	1360	$2,295	$1.69	24d	1	0.92mi
780 Linnard St Baltimore, MD	3.0	2.0	1224	$1,590	$1.30	44d	1	0.92mi
2738 N Longwood St Baltimore, MD	3.0	1.0	1024	$1,399	$1.37	44d	1	0.93mi
1806 N Mount St Baltimore, MD	3.0	3.0	1200	$1,700	$1.42	20d	1	0.93mi
2815 W Mulberry St Baltimore, MD	4.0	2.0	1040	$2,050	$1.97	44d	1	0.93mi

Listing history 32 events

1. 2026-06-18
   days on market $121,900 Active 55 DOM
2. 2026-06-17
   days on market $121,900 Active 54 DOM
3. 2026-06-16
   days on market $121,900 Active 53 DOM
4. 2026-06-15
   days on market $121,900 Active 52 DOM
5. 2026-06-13
   days on market $121,900 Active 50 DOM
6. 2026-06-09
   days on market $121,900 Active 46 DOM
7. 2026-06-08
   days on market $121,900 Active 45 DOM
8. 2026-06-07
   days on market $121,900 Active 44 DOM
9. 2026-06-04
   days on market $121,900 Active 41 DOM
10. 2026-06-03
    days on market $121,900 Active 40 DOM
11. 2026-06-02
    days on market $121,900 Active 39 DOM
12. 2026-06-01
    days on market $121,900 Active 38 DOM
13. 2026-05-31
    days on market $121,900 Active 37 DOM
14. 2026-05-15
    price $121,900 359-char remark
15. 2026-04-24
    listed $135,000 Active 359-char remark
16. 2011-02-01
    historical
17. 2011-02-01
    historical Expired
18. 2010-10-26
    status Active
19. 2010-10-01
    historical
20. 2010-08-11
    listed Active
21. 2010-08-10
    listed $120,000
22. 2010-04-20
    soldstatus $12,500
23. 2010-04-20
    soldstatus $12,500 Sold
24. 2010-03-24
    status Contract
25. 2010-03-16
    historical
26. 2010-02-15
    listed $12,350 Active
27. 2010-02-15
    listed $12,350
28. 2006-06-20
    soldstatus $72,400
29. 2006-06-02
    soldstatus $72,000
30. 2006-03-17
    historical
31. 2006-01-04
    listed $69,900
32. 1983-11-07
    soldstatus $614,000

ⓘ 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: $1,297 · $108/mo
• Projected year-2 tax: $1,313 · $109/mo
• Expected delta: +$16/yr (+$1/mo · 1.2%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 79% 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,649
• − Mortgage interest: −$6,828
• − Property taxes: −$1,297
• − Insurance: −$1,276
• − Repairs & maintenance: −$1,572
• − Management: −$1,572
• − Depreciation: −$3,546
• Taxable income: $3,558
• Est. tax owed @ 24.0%: −$854
• After-tax cash flow: $4,425/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): 29,426
• Household income: $42,031
• Rent vs Own: 49.8% rent · 50.2% own
• Severe rent burden: 2264.0

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 (91%)
• Race & ethnicity: Black 91% Hispanic / Latino 4% Two or more races 3% White 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3% 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: ▼ -107.42%
• Current HPI: 164.3933
• Rent YoY: ▲ 6.10%
• 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

-80.1% since first listed

19 events — show timeline

• 2026-05-15 Price Changed $121,900 BRIGHT MLS
• 2026-04-24 Listed $135,000 BRIGHT MLS
• 2011-02-01 Listing Removed — BRIGHT MLS
• 2011-02-01 Delisted — MRIS
• 2010-10-26 Relisted — MRIS
• 2010-10-01 Delisted — MRIS
• 2010-08-11 Listed — MRIS
• 2010-08-10 Listed $120,000 BRIGHT MLS
• 2010-04-20 Sold (MLS) $12,500 MRIS
• 2010-04-20 Sold (MLS) $12,500 BRIGHT MLS
• 2010-03-24 Pending — MRIS
• 2010-03-16 Listing Removed — BRIGHT MLS
• 2010-02-15 Listed $12,350 MRIS
• 2010-02-15 Listed $12,350 BRIGHT MLS
• 2006-06-20 Sold (Public Records) $72,400 Public Records
• 2006-06-02 Sold (MLS) $72,000 MRIS
• 2006-03-17 Delisted — MRIS
• 2006-01-04 Listed $69,900 MRIS
• 1983-11-07 Sold (Public Records) $614,000 Public Records

Property tax history

+6.6%/yr

Latest (2025): $1,297 · +13.1% YoY. Source: county tax records.