1811 Mckean Ave · Baltimore, MD 21217

$55,000

2 bd · 1.0 ba · 998 sqft · Townhouse · 73 Days on market

Built 1920 1,307 sqft lot $55/sqft · 44% below area Est $98k · 44% under

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

Listing remarks MLS

AS-IS

Key facts

• Built 1920
• Listed 73 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $55k.

Deal economics

• At list price, monthly cash flow is $757 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $52k (6.0% below list) — sets the bar for market timing.
• Cap rate 22.8% 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 (+6.6%/yr); 331 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); 52% 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 $1,466/mo this rent would consume 46% of the median local household income ($38k/yr) (locally 2921% 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 $380 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 + 6.6% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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 $51,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% 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. 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: 2.66% ✓
• Cap rate: 22.80%
• Cash-on-cash: 58.95%
• DSCR: 3.62
• GRM: 3.1

CMA / ARV

• ARV (median comp): $98,318
• List price: $55,000
• Delta: -44.06%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1516 N Gilmor St	0.30mi	3/1.0 (+1)	990 (-1%)	10mo	$50,000	$51	72
2418 Etting St	0.35mi	2/1.0	1,080 (+8%)	4mo	$53,500	$50	67
1603 Clifton Ave	0.22mi	3/1.0 (+1)	1,100 (+10%)	2mo	$130,000	$118	66
1705 N Payson St	0.15mi	3/1.5 (+1)	1,100 (+10%)	5mo	$38,000	$35	65
2109 N Fulton Ave N	0.23mi	3/1.0 (+1)	1,100 (+10%)	4mo	$35,000	$32	64
1552 N Fulton Ave	0.19mi	3/1.0 (+1)	1,113 (+12%)	4mo	$125,000	$112	64
1541 N Pulaski St	0.28mi	3/1.0 (+1)	1,100 (+10%)	3mo	$115,000	$105	62
2219 Eutaw Pl #3	0.70mi	2/2.0	1,000 (+0%)	7mo	$170,000	$170	57
1635 N Warwick Ave N	0.54mi	3/1.5 (+1)	1,064 (+7%)	5mo	$70,000	$66	53
1222 N Calhoun St	0.54mi	3/1.0 (+1)	1,080 (+8%)	10mo	$105,000	$97	48
1214 N Woodyear St	0.57mi	3/2.0 (+1)	1,080 (+8%)	5mo	$68,500	$63	46
1201 N Calhoun St	0.58mi	3/2.5 (+1)	1,080 (+8%)	5mo	$102,000	$94	44

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: 61.8%
• Equity multiple: 3.91×
• Total profit: $44,854
• Equity at exit: $8,201

10-year hold

• IRR: 67.6%
• Equity multiple: 9.17×
• Total profit: $125,779
• Equity at exit: $4,755

Cash invested: $15,400 (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: 331
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,466 high
• Mortgage (P&I): −$288
• Tax from tax record: −$90 /mo · $1,080/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $757

Break-even live

Break-even rent $508

Max offer price $55,000

Occupancy floor 43%

Sensitivity live

Price	-10% $788	-5% $772	+0% $757	+5% $741	+10% $725
Rent	-10% $641	-5% $699	+0% $757	+5% $814	+10% $872
Rate	-1.0pp $784	-0.5pp $771	base $757	+0.5pp $742	+1.0pp $728

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1729 N Fulton Ave Baltimore, MD	3.0	2.0	1081	$1,795	$1.66	44d	1	0.06mi
1722 N Monroe St Baltimore, MD	3.0	1.5	1000	$1,350	$1.35	24d	1	0.08mi
1744 W North Ave Unit 3R Baltimore, MD	1.0	1.0	650	$900	$1.38	44d	1	0.09mi
1624 Westwood Ave Baltimore, MD	3.0	2.0	1000	$1,900	$1.90	44d	1	0.14mi
1930 N Payson St Baltimore, MD	2.0	2.0	980	$1,500	$1.53	24d	1	0.20mi
2614 Pennsylvania Ave Baltimore, MD	1.0–3.0	1.0–2.0	982	$876	$0.89	5d	4	0.21mi
2636 Pennsylvania Ave Baltimore, MD	1.0–2.0	1.0	846	$956	$1.13	24d	4	0.23mi
1645 N Calhoun St Apt 202 Baltimore, MD	2.0	1.0	650	$1,199	$1.84	44d	1	0.25mi
1614 N Calhoun St Baltimore, MD	2.0	1.0	950	$1,300	$1.37	44d	1	0.26mi
1534 N Stricker St Baltimore, MD	2.0	1.5	900	$1,475	$1.64	15d	1	0.32mi
1562 N Woodyear St Baltimore, MD	2.0	1.5	788	$1,325	$1.68	24d	1	0.32mi
1515 Retreat St Baltimore, MD	3.0	2.0	1098	$1,800	$1.64	24d	1	0.33mi
1507 Retreat St Unit 1 Baltimore, MD	3.0	3.0	1098	$2,500	$2.28	44d	1	0.35mi
2449 Druid Hill Ave Baltimore, MD	2.0	1.0	1100	$1,800	$1.64	44d	1	0.44mi
2433 Druid Hill Ave Baltimore, MD	2.0	2.5	1092	$1,999	$1.83	44d	1	0.44mi
1617 Moreland Ave Baltimore, MD	2.0	1.0	900	$1,450	$1.61	24d	1	0.48mi
2301 Whittier Ave Unit 1 Baltimore, MD	2.0	1.0	1104	$1,400	$1.27	44d	1	0.50mi
2301 Whittier Ave Unit 3 Baltimore, MD	2.0	2.0	1104	$1,650	$1.49	44d	1	0.50mi
2301 Whittier Ave Unit 2 Baltimore, MD	2.0	2.0	1104	$1,400	$1.27	44d	1	0.50mi
1346 N Carey St Baltimore, MD	2.0	1.5	1100	$1,500	$1.36	44d	1	0.51mi
2143 Druid Hill Ave Unit 2 Baltimore, MD	2.0	1.0	915	$1,400	$1.53	44d	1	0.54mi
2511 Madison Ave #2 Baltimore, MD	3.0	1.0	1100	$1,650	$1.50	44d	1	0.56mi
2537 Madison Ave Unit 3 Baltimore, MD	1.0	1.0	668	$950	$1.42	44d	1	0.56mi
2028 Druid Hill Ave Unit 2 Baltimore, MD	1.0	1.0	657	$1,199	$1.82	44d	1	0.59mi
1009 Cloverdale St Baltimore, MD	1.0	1.0	850	$1,100	$1.29	24d	1	0.59mi
2330 Bryant Ave Unit 4 Baltimore, MD	2.0	1.0	950	$1,500	$1.58	21d	1	0.60mi
2330 Bryant Ave Unit 2 Baltimore, MD	1.0	1.0	900	$1,350	$1.50	44d	1	0.60mi
2348 Eutaw Pl Apt 3 Baltimore, MD	1.0	1.0	545	$1,095	$2.01	22d	1	0.61mi
3306 Auchentoroly Ter Apt 2 Baltimore, MD	2.0	1.0	600	$1,025	$1.71	3d	1	0.62mi
2037 McCulloh St Unit 3 Baltimore, MD	2.0	2.0	937	$1,650	$1.76	18d	1	0.63mi
3401 Woodbrook Ave Unit 1 Baltimore, MD	3.0	1.0	900	$1,199	$1.33	24d	1	0.64mi
2300 Eutaw Pl Unit 4 Baltimore, MD	1.0	1.0	825	$1,025	$1.24	44d	1	0.64mi
1606 Gwynns Falls Pkwy Baltimore, MD	2.0	1.0	748	$1,200	$1.60	24d	1	0.65mi
1931 McCulloh St Unit 1 Baltimore, MD	3.0	1.0	1000	$1,500	$1.50	44d	1	0.68mi
1920 McCulloh St Apt 2 Baltimore, MD	2.0	1.0	1000	$1,450	$1.45	44d	1	0.69mi
2301 Riggs Ave Baltimore, MD	3.0	2.0	1072	$1,600	$1.49	24d	1	0.70mi
1847 Druid Hill Ave Unit B Baltimore, MD	1.0	1.0	600	$1,250	$2.08	44d	1	0.71mi
1909 McCulloh St Unit 2 Baltimore, MD	2.0	1.0	717	$1,300	$1.81	24d	1	0.71mi
1719 Pennsylvania Ave Baltimore, MD	1.0	1.0	540	$1,200	$2.22	18d	1	0.73mi
2636 W North Ave Baltimore, MD	2.0–3.0	1.0–2.0	975	$1,300	$1.33	5d	1	0.73mi

Listing history 25 events

1. 2026-06-18
   days on market $55,000 Active 73 DOM
2. 2026-06-17
   days on market $55,000 Active 72 DOM
3. 2026-06-16
   days on market $55,000 Active 71 DOM
4. 2026-06-15
   days on market $55,000 Active 70 DOM
5. 2026-06-13
   days on market $55,000 Active 68 DOM
6. 2026-06-09
   days on market $55,000 Active 64 DOM
7. 2026-06-08
   days on market $55,000 Active 63 DOM
8. 2026-06-07
   days on market $55,000 Active 62 DOM
9. 2026-06-04
   days on market $55,000 Active 59 DOM
10. 2026-06-03
    days on market $55,000 Active 58 DOM
11. 2026-06-02
    days on market $55,000 Active 57 DOM
12. 2026-06-01
    days on market $55,000 Active 56 DOM
13. 2026-05-31
    days on market $55,000 Active 55 DOM
14. 2026-04-06
    listed $55,000 Active 5-char remark

    Show marketing remark (5 chars)

    AS-IS

15. 2025-09-23
    soldstatus $49,500
16. 2025-08-11
    soldstatus $49,500 Closed 309-char remark

    Show marketing remark (309 chars)

    ONLINE AUCTION: Bidding begins 6/13/25 @ 10:00am, bidding ends 6/17/25 @ 11:50am. List price is the suggested starting bid. Deposit: $5,000. 2 Story Townhouse located in the Sandtown-Winchester area. JUST MINUTES to Coppin State University. Easy access to major traffic artery W North Ave. Property is Vacant.

17. 2025-06-06
    status Pending 309-char remark

    Show marketing remark (309 chars)

    ONLINE AUCTION: Bidding begins 6/13/25 @ 10:00am, bidding ends 6/17/25 @ 11:50am. List price is the suggested starting bid. Deposit: $5,000. 2 Story Townhouse located in the Sandtown-Winchester area. JUST MINUTES to Coppin State University. Easy access to major traffic artery W North Ave. Property is Vacant.

18. 2025-05-23
    price $20,000 309-char remark

    Show marketing remark (309 chars)

    ONLINE AUCTION: Bidding begins 6/13/25 @ 10:00am, bidding ends 6/17/25 @ 11:50am. List price is the suggested starting bid. Deposit: $5,000. 2 Story Townhouse located in the Sandtown-Winchester area. JUST MINUTES to Coppin State University. Easy access to major traffic artery W North Ave. Property is Vacant.

19. 2024-12-05
    price $45,000 309-char remark

    Show marketing remark (309 chars)

    ONLINE AUCTION: Bidding begins 6/13/25 @ 10:00am, bidding ends 6/17/25 @ 11:50am. List price is the suggested starting bid. Deposit: $5,000. 2 Story Townhouse located in the Sandtown-Winchester area. JUST MINUTES to Coppin State University. Easy access to major traffic artery W North Ave. Property is Vacant.

20. 2024-11-08
    price $20,000 309-char remark

    Show marketing remark (309 chars)

    ONLINE AUCTION: Bidding begins 6/13/25 @ 10:00am, bidding ends 6/17/25 @ 11:50am. List price is the suggested starting bid. Deposit: $5,000. 2 Story Townhouse located in the Sandtown-Winchester area. JUST MINUTES to Coppin State University. Easy access to major traffic artery W North Ave. Property is Vacant.

21. 2024-11-08
    status Active 309-char remark

    Show marketing remark (309 chars)

    ONLINE AUCTION: Bidding begins 6/13/25 @ 10:00am, bidding ends 6/17/25 @ 11:50am. List price is the suggested starting bid. Deposit: $5,000. 2 Story Townhouse located in the Sandtown-Winchester area. JUST MINUTES to Coppin State University. Easy access to major traffic artery W North Ave. Property is Vacant.

22. 2024-10-26
    historical 309-char remark

    Show marketing remark (309 chars)

    ONLINE AUCTION: Bidding begins 6/13/25 @ 10:00am, bidding ends 6/17/25 @ 11:50am. List price is the suggested starting bid. Deposit: $5,000. 2 Story Townhouse located in the Sandtown-Winchester area. JUST MINUTES to Coppin State University. Easy access to major traffic artery W North Ave. Property is Vacant.

23. 2024-09-23
    price $45,000 309-char remark

    Show marketing remark (309 chars)

    ONLINE AUCTION: Bidding begins 6/13/25 @ 10:00am, bidding ends 6/17/25 @ 11:50am. List price is the suggested starting bid. Deposit: $5,000. 2 Story Townhouse located in the Sandtown-Winchester area. JUST MINUTES to Coppin State University. Easy access to major traffic artery W North Ave. Property is Vacant.

24. 2024-07-02
    listed $20,000 Active 309-char remark

    Show marketing remark (309 chars)

    ONLINE AUCTION: Bidding begins 6/13/25 @ 10:00am, bidding ends 6/17/25 @ 11:50am. List price is the suggested starting bid. Deposit: $5,000. 2 Story Townhouse located in the Sandtown-Winchester area. JUST MINUTES to Coppin State University. Easy access to major traffic artery W North Ave. Property is Vacant.

25. 1987-04-21
    soldstatus $6,000

ⓘ 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: $1,080 · $90/mo
• Projected year-2 tax: $1,080 · $90/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 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: $17,588
• − Mortgage interest: −$3,081
• − Property taxes: −$1,080
• − Insurance: −$275
• − Repairs & maintenance: −$1,407
• − Management: −$1,407
• − Depreciation: −$1,600
• Taxable income: $8,738
• Est. tax owed @ 24.0%: −$2,097
• After-tax cash flow: $6,981/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

+816.7% since first listed

12 events — show timeline

• 2026-04-06 Listed $55,000 BRIGHT MLS
• 2025-09-23 Sold (Public Records) $49,500 Public Records
• 2025-08-11 Sold (MLS) $49,500 BRIGHT MLS
• 2025-06-06 Pending — BRIGHT MLS
• 2025-05-23 Price Changed $20,000 BRIGHT MLS
• 2024-12-05 Price Changed $45,000 BRIGHT MLS
• 2024-11-08 Price Changed $20,000 BRIGHT MLS
• 2024-11-08 Relisted — BRIGHT MLS
• 2024-10-26 Listing Removed — BRIGHT MLS
• 2024-09-23 Price Changed $45,000 BRIGHT MLS
• 2024-07-02 Listed $20,000 BRIGHT MLS
• 1987-04-21 Sold (Public Records) $6,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $1,080 · +4.5% YoY. Source: county tax records.