721 W Lafayette Ave · Baltimore, MD 21217

$199,900

5 bd · 4.0 ba · 2,067 sqft · Townhouse public records · 119 Days on market

Built 1900 3,920 sqft lot $97/sqft · 52% above area Est $182k · 10% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +7.4/10.0
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• ARV discount +3.1/15.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Two-unit semi-detached property ideally located at the edge of the Upton and Harlem Park communities. Unit 1 encompasses the first floor and basement and offers 2 bedrooms and 2 full bathrooms, a spacious modern kitchen. Unit 2 spans the second and third floors and features 3 bedrooms, 2 full bathrooms, and an oversized eat-in kitchen. Luxury vinyl tile flooring throughout. Both units are equipped with central air and forced-air heating, with all utilities separately metered.

Key facts

• Forced-air heating
• Modern kitchen
• Central air

Tags

• MODERN KITCHEN
• OVERSIZED EAT-IN KITCHEN
• LUXURY VINYL TILE FLOORING
• CENTRAL AIR
• FORCED-AIR HEATING
• UTILITIES SEPARATELY METERED

What this means for you Summary

Snapshot

• This is a 5-bed/4.0-bath townhouse listed at $200k.

Deal economics

• At list price, monthly cash flow is $780 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $182k (9.0% below list) — sets the bar for market timing.

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: 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.
• Zoned schools: Elmer A. Henderson: A Johns Hopkins Partnership (math 2% / reading 16%, grade F, #650 of 860 statewide, top 77%, 642 students, 80% FRL); Vanguard Collegiate Middle (math 3% / reading 15%, grade F, #212 of 225 statewide, top 95%, 343 students, 84% FRL); Baltimore Polytechnic Institute (math 71% / reading 84%, grade A-, #22 of 222 statewide, top 10%, 1,555 students, 43% FRL).
• Zoned-school proficiency averages 32% at this address vs 12% district-wide (+20 pts) — the actual schools serving this property are materially stronger than the Baltimore City Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+6.6%/yr); 333 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 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 $6k 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 + 6.6% rent growth), your $56k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 3y 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.
• Current owner paid $70k; list at $200k implies a 186% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: 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 $181,909 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.24% ✓
• Cap rate: 10.97%
• Cash-on-cash: 16.72%
• DSCR: 1.74
• GRM: 6.7

CMA / ARV

• ARV (median comp): $182,273
• List price: $199,900
• Delta: 9.67%
• 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
1013 Harlem Ave	0.18mi	5/3.5	2,117 (+2%)	4mo	$170,000	$80	82
1344 Division St	0.26mi	5/3.5	2,098 (+2%)	4mo	$49,500	$24	80
719 W Lafayette Ave W	0.00mi	4/1.0 (-1)	2,067 (0%)	9mo	$120,000	$58	76
703 George St	0.35mi	4/3.5 (-1)	2,160 (+4%)	5mo	$285,000	$132	65
754 Dolphin St	0.14mi	5/2.0	1,842 (-11%)	3mo	$164,000	$89	64
900 Argyle Ave	0.40mi	4/3.5 (-1)	2,000 (-3%)	6mo	$240,000	$120	64
1201 N Fulton Ave	0.68mi	5/4.0	2,100 (+2%)	5mo	$280,000	$133	62
329 N Gilmor St	0.63mi	4/2.5 (-1)	2,066 (-0%)	6mo	$315,000	$152	54
1030 N Fulton Ave	0.65mi	4/2.5 (-1)	2,010 (-3%)	9mo	$155,000	$77	47
256 Waxter Way	0.62mi	4/3.5 (-1)	1,836 (-11%)	0mo	$450,000	$245	45
503 N Paca St	0.68mi	6/3.0 (+1)	1,904 (-8%)	9mo	$340,000	$179	39
1810 Edmondson Ave	0.72mi	4/2.0 (-1)	2,290 (+11%)	8mo	$55,000	$24	29

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 · 6.63% rent growth · sell at horizon

5-year hold

• IRR: 11.5%
• Equity multiple: 1.47×
• Total profit: $26,583
• Equity at exit: $29,806

10-year hold

• IRR: 23.0%
• Equity multiple: 3.29×
• Total profit: $128,293
• Equity at exit: $17,284

Cash invested: $55,972 (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 21217

• Rents YoY: 6.6%
• Active inventory: 333
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,481 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$49 /mo · $587/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$521
• Net cashflow: $780

Break-even live

Break-even rent $1,494

Max offer price $199,900

Occupancy floor 64%

Sensitivity live

Price	-10% $893	-5% $836	+0% $780	+5% $723	+10% $667
Rent	-10% $584	-5% $682	+0% $780	+5% $878	+10% $976
Rate	-1.0pp $881	-0.5pp $831	base $780	+0.5pp $728	+1.0pp $675

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1032 W Franklin St Baltimore, MD	4.0	4.5	1913	$2,650	$1.39	26d	1	0.32mi
1628 McCulloh St Unit 2 Baltimore, MD	4.0	2.5	2000	$2,000	$1.00	6d	1	0.46mi
1725 Druid Hill Ave Baltimore, MD	4.0	3.0	2195	$2,100	$0.96	26d	1	0.46mi
1315 Presstman St Baltimore, MD	4.0	2.0	1700	$2,000	$1.18	46d	1	0.54mi
1625 Edmondson Ave Unit 1 Baltimore, MD	4.0	3.0	1500	$2,175	$1.45	6d	1	0.58mi
1625 Edmondson Ave Unit 2 Baltimore, MD	4.0	3.0	1500	$1,895	$1.26	14d	1	0.58mi
147 W Lafayette Ave Baltimore, MD	4.0	2.5	2400	$3,250	$1.35	46d	1	0.79mi
922 W Lombard St Baltimore, MD	4.0	2.0	2364	$2,300	$0.97	26d	1	0.83mi
803 McHenry St Baltimore, MD	4.0	2.5	1856	$2,599	$1.40	5d	1	1.02mi
10 E Chase St Baltimore, MD	4.0	2.5	2626	$3,499	$1.33	46d	1	1.04mi
2534 McCulloh St Unit 1 Baltimore, MD	4.0	2.0	2861	$3,300	$1.15	26d	1	1.05mi
636 Portland St Baltimore, MD	4.0	2.0	1545	$2,650	$1.72	26d	1	1.06mi
2511 Madison Ave Unit 1 Baltimore, MD	4.0	2.0	2700	$2,700	$1.00	46d	1	1.06mi
324 Scott St Baltimore, MD	4.0	2.5	1656	$3,000	$1.81	46d	1	1.07mi
914 Whitelock St Baltimore, MD	4.0	3.5	2880	$2,250	$0.78	6d	1	1.08mi
819 Ramsay St Baltimore, MD	4.0	3.5	1856	$3,000	$1.62	14d	1	1.09mi
2302 Mount Royal Ter Baltimore, MD	4.0	3.5	2351	$3,000	$1.28	26d	1	1.17mi
610 Scott St Baltimore, MD	5.0	3.0	1700	$2,750	$1.62	14d	1	1.21mi
1227 Washington Blvd Baltimore, MD	4.0	3.5	2664	$2,950	$1.11	6d	1	1.23mi
2128 N Pulaski St Baltimore, MD	4.0	3.0	2166	$2,200	$1.02	46d	1	1.34mi
311 S Pulaski St Baltimore, MD	5.0	3.0	1450	$2,400	$1.66	46d	1	1.35mi
311 S Pulaski St Baltimore, MD	5.0	3.0	1450	$2,400	$1.66	5d	1	1.35mi
2401 W North Ave Baltimore, MD	5.0	2.0	2037	$1,800	$0.88	6d	1	1.38mi
2405 W North Ave Baltimore, MD	4.0	3.0	1826	$1,900	$1.04	6d	1	1.38mi
2201 Whittier Ave Baltimore, MD	4.0	2.0	1750	$1,700	$0.97	46d	1	1.39mi
2201 Whittier Ave Baltimore, MD	4.0	2.0	1750	$1,700	$0.97	20d	1	1.39mi
7 W 24th St Unit 1 Baltimore, MD	5.0	2.5	1443	$2,395	$1.66	22d	1	1.48mi

Listing history 31 events

1. 2026-05-15
   status Pending 480-char remark

   Show marketing remark (480 chars)

   Two-unit semi-detached property ideally located at the edge of the Upton and Harlem Park communities. Unit 1 encompasses the first floor and basement and offers 2 bedrooms and 2 full bathrooms, a spacious modern kitchen. Unit 2 spans the second and third floors and features 3 bedrooms, 2 full bathrooms, and an oversized eat-in kitchen. Luxury vinyl tile flooring throughout. Both units are equipped with central air and forced-air heating, with all utilities separately metered.

2. 2026-05-15
   status Pending 480-char remark

   Show marketing remark (480 chars)

   Two-unit semi-detached property ideally located at the edge of the Upton and Harlem Park communities. Unit 1 encompasses the first floor and basement and offers 2 bedrooms and 2 full bathrooms, a spacious modern kitchen. Unit 2 spans the second and third floors and features 3 bedrooms, 2 full bathrooms, and an oversized eat-in kitchen. Luxury vinyl tile flooring throughout. Both units are equipped with central air and forced-air heating, with all utilities separately metered.

3. 2026-02-19
   price $199,900 480-char remark

   Show marketing remark (480 chars)

   Two-unit semi-detached property ideally located at the edge of the Upton and Harlem Park communities. Unit 1 encompasses the first floor and basement and offers 2 bedrooms and 2 full bathrooms, a spacious modern kitchen. Unit 2 spans the second and third floors and features 3 bedrooms, 2 full bathrooms, and an oversized eat-in kitchen. Luxury vinyl tile flooring throughout. Both units are equipped with central air and forced-air heating, with all utilities separately metered.

4. 2026-02-19
   price $199,900 480-char remark

   Show marketing remark (480 chars)

   Two-unit semi-detached property ideally located at the edge of the Upton and Harlem Park communities. Unit 1 encompasses the first floor and basement and offers 2 bedrooms and 2 full bathrooms, a spacious modern kitchen. Unit 2 spans the second and third floors and features 3 bedrooms, 2 full bathrooms, and an oversized eat-in kitchen. Luxury vinyl tile flooring throughout. Both units are equipped with central air and forced-air heating, with all utilities separately metered.

5. 2026-02-18
   listed $209,900 Active 480-char remark

   Show marketing remark (480 chars)

   Two-unit semi-detached property ideally located at the edge of the Upton and Harlem Park communities. Unit 1 encompasses the first floor and basement and offers 2 bedrooms and 2 full bathrooms, a spacious modern kitchen. Unit 2 spans the second and third floors and features 3 bedrooms, 2 full bathrooms, and an oversized eat-in kitchen. Luxury vinyl tile flooring throughout. Both units are equipped with central air and forced-air heating, with all utilities separately metered.

6. 2026-01-16
   listed $209,900 Active 480-char remark

   Show marketing remark (480 chars)

   Two-unit semi-detached property ideally located at the edge of the Upton and Harlem Park communities. Unit 1 encompasses the first floor and basement and offers 2 bedrooms and 2 full bathrooms, a spacious modern kitchen. Unit 2 spans the second and third floors and features 3 bedrooms, 2 full bathrooms, and an oversized eat-in kitchen. Luxury vinyl tile flooring throughout. Both units are equipped with central air and forced-air heating, with all utilities separately metered.

7. 2025-10-10
   historical
8. 2025-10-10
   historical
9. 2025-09-11
   status Active
10. 2025-09-11
    status Active
11. 2025-09-09
    historical
12. 2025-09-09
    historical
13. 2025-09-03
    price $229,900
14. 2025-09-03
    price $229,900
15. 2025-07-09
    price $234,900
16. 2025-07-09
    price $234,900
17. 2025-05-30
    price $249,900
18. 2025-05-30
    price $249,900
19. 2025-04-11
    listed $259,900 Active
20. 2025-04-10
    listed $259,900 Active
21. 2025-04-10
    historical
22. 2025-04-10
    historical
23. 2024-01-31
    historical
24. 2024-01-19
    status Active
25. 2023-10-10
    status Pending
26. 2023-10-09
    historical
27. 2023-09-05
    status Active
28. 2023-08-28
    historical
29. 2023-08-26
    listed $380,000 Active
30. 2023-08-08
    historical
31. 2022-10-18
    soldstatus $70,000

ⓘ 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: $587 · $49/mo
• Projected year-2 tax: $1,383 · $115/mo
• Expected delta: +$796/yr (+$66/mo · 135.5%)

ⓘ 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 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 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,778
• − Mortgage interest: −$11,198
• − Property taxes: −$587
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,382
• − Management: −$2,382
• − Depreciation: −$5,815
• Taxable income: $6,414
• Est. tax owed @ 24.0%: −$1,539
• After-tax cash flow: $7,819/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): 30,792
• Household income: $38,409
• Rent vs Own: 70.0% rent · 30.0% own
• Severe rent burden: 2921.0

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 (81%)
• Race & ethnicity: Black 81% White 12% Two or more races 4% Hispanic / Latino 2% Asian 2%
• Common ancestry: Romanian 1% Hispanic 1% Italian 1%
• Foreign-born: 5% · Canada, China, South Korea
• Languages at home: 94% English-only · Spanish 2% French/Haitian/Cajun 1% Chinese 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: ▼ -187.20%
• Current HPI: 104.2102
• Rent YoY: ▲ 6.63%
• 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

+185.6% since first listed

31 events — show timeline

• 2026-05-15 Pending — BRIGHT MLS
• 2026-05-15 Pending — BRIGHT MLS
• 2026-02-19 Price Changed $199,900 BRIGHT MLS
• 2026-02-19 Price Changed $199,900 BRIGHT MLS
• 2026-02-18 Listed $209,900 BRIGHT MLS
• 2026-01-16 Listed $209,900 BRIGHT MLS
• 2025-10-10 Listing Removed — BRIGHT MLS
• 2025-10-10 Listing Removed — BRIGHT MLS
• 2025-09-11 Relisted — BRIGHT MLS
• 2025-09-11 Relisted — BRIGHT MLS
• 2025-09-09 Listing Removed — BRIGHT MLS
• 2025-09-09 Listing Removed — BRIGHT MLS
• 2025-09-03 Price Changed $229,900 BRIGHT MLS
• 2025-09-03 Price Changed $229,900 BRIGHT MLS
• 2025-07-09 Price Changed $234,900 BRIGHT MLS
• 2025-07-09 Price Changed $234,900 BRIGHT MLS
• 2025-05-30 Price Changed $249,900 BRIGHT MLS
• 2025-05-30 Price Changed $249,900 BRIGHT MLS
• 2025-04-11 Listed $259,900 BRIGHT MLS
• 2025-04-10 Listed $259,900 BRIGHT MLS
• 2025-04-10 Coming Soon — BRIGHT MLS
• 2025-04-10 Coming Soon — BRIGHT MLS
• 2024-01-31 Listing Removed — BRIGHT MLS
• 2024-01-19 Relisted — BRIGHT MLS
• 2023-10-10 Pending — BRIGHT MLS
• 2023-10-09 Listing Removed — BRIGHT MLS
• 2023-09-05 Relisted — BRIGHT MLS
• 2023-08-28 Listing Removed — BRIGHT MLS
• 2023-08-26 Listed $380,000 BRIGHT MLS
• 2023-08-08 Coming Soon — BRIGHT MLS
• 2022-10-18 Sold (Public Records) $70,000 Public Records

Property tax history

+15.1%/yr

Latest (2025): $587 · +0.0% YoY. Source: county tax records.