7240 Park Heights Ave #210 · Baltimore, MD 21208

$130,000

2 bd · 2.0 ba · 1,820 sqft · Condo public records · 42 Days on market

Built 1979 $71/sqft · 40% below area Est $216k · 40% under $250/mo HOA · 12% of rent

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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 +3.9/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Stunning top floor Park Slade condo! This rare gem offers 2 bedrooms, 2 full bath baths with beautiful neutral decor featuring gorgeous crown molding, tile flooring, wood burning fireplace and 1 car garage. New windows installed last year, tons of closet space and large balcony for outdoor lounging or entertaining. This one won't last long! Please give 24 hr notice for all showings

Key facts

• Private bath
• Private balcony
• In-unit laundry

Tags

• PRIVATE BATH
• PRIVATE BALCONY
• IN-UNIT LAUNDRY
• EXCELLENT STORAGE
• WELL-MAINTAINED BUILDING

Property features AI

Finance

• HOA & community: Condo fee $250 monthly (fee includes community amenities/other)

Exterior

• Parking: Attached front-entry garage with one parking space
• Utilities: Public water; Public sewer; Electric service
• Home design: Condominium unit (Unit/Flat); Entry on the 2nd floor
• Construction: Year built: estimated
• Exterior features: Garden-style building (1–4 floors); Above-grade and below-grade structures noted; Located within city limits

Interior

• Bedrooms: Two bedrooms on the main level
• Bathrooms: Two full bathrooms (including two full on the main level)
• Heating & cooling: Forced air heating (electric); Central air conditioning (electric); Electric hot water
• Interior features: No basement; Two or more access exits
• Laundry & utility: Washer/dryer hookup in unit

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $130k.

Deal economics

• At list price, monthly cash flow is $493 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.8% 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 (+5.6%/yr); 170 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $899 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 + 5.6% rent growth), your $36k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 3 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

• Climate carrying-cost: moderate wind risk, 23% 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 $126,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 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 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.65% ✓
• Cap rate: 10.84%
• Cash-on-cash: 16.25%
• DSCR: 1.72
• GRM: 5.0

CMA / ARV

• ARV (median comp): $215,516
• List price: $130,000
• Delta: -39.68%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.64% rent growth · sell at horizon

5-year hold

• IRR: 11.0%
• Equity multiple: 1.45×
• Total profit: $16,405
• Equity at exit: $19,383

10-year hold

• IRR: 22.5%
• Equity multiple: 3.22×
• Total profit: $80,982
• Equity at exit: $11,240

Cash invested: $36,400 (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 21208

• Rents YoY: 5.6%
• Active inventory: 170
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $2,149 high
• Mortgage (P&I): −$682
• Tax from tax record: −$219 /mo · $2,626/yr
• Insurance: −$54
• HOA: −$250
• Vacancy / Maint / Mgmt: −$451
• Net cashflow: $493

Break-even live

Break-even rent $1,525

Max offer price $130,000

Occupancy floor 72%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7307 Park Heights Ave Pikesville, MD	2.0	2.0–2.5	1251	$2,506	$2.00	1d	5	0.10mi
3700 Seven Mile Ln Pikesville, MD	1.0–2.0	1.0–2.0	1063	$1,723	$1.62	1d	13	0.15mi
19 Warren Park Dr Pikesville, MD	3.0	1.0–2.0	903	$1,467	$1.62	2d	10	0.69mi
3505 Clarks Ln Unit D2 Baltimore, MD	3.0	2.0	1750	$2,500	$1.43	43d	1	0.71mi
6936 Blanche Rd Baltimore, MD	3.0	1.5	1410	$1,800	$1.28	43d	1	0.76mi
7008 Deerfield Rd Pikesville, MD	3.0	1.5	1664	$2,300	$1.38	43d	1	0.78mi
220 Brightside Ave Pikesville, MD	3.0	1.5	1233	$2,500	$2.03	17d	1	0.90mi
6609 Eberle Dr Baltimore, MD	1.0–3.0	1.0–2.0	1011	$1,478	$1.46	1d	25	0.96mi
7248 Early Golden Ln Unit 7248 Pikesville, MD	3.0	2.5	1280	$2,500	$1.95	23d	1	1.21mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-18
   days on market $130,000 Active 42 DOM
2. 2026-06-17
   days on market $130,000 Active 41 DOM
3. 2026-06-16
   days on market $130,000 Active 40 DOM
4. 2026-06-15
   days on market $130,000 Active 39 DOM
5. 2026-06-13
   days on market $130,000 Active 37 DOM
6. 2026-06-09
   days on market $130,000 Active 33 DOM
7. 2026-06-08
   days on market $130,000 Active 32 DOM
8. 2026-06-07
   days on market $130,000 Active 31 DOM
9. 2026-06-04
   days on market $130,000 Active 28 DOM
10. 2026-06-03
    days on market $130,000 Active 27 DOM
11. 2026-06-02
    days on market $130,000 Active 26 DOM
12. 2026-06-01
    days on market $130,000 Active 25 DOM
13. 2026-05-31
    days on market $130,000 Active 24 DOM
14. 2026-05-07
    listed $130,000 Active 1346-char remark
15. 2020-12-03
    soldstatus $150,000
16. 2020-07-31
    soldstatus $150,000 Closed 386-char remark

    Show marketing remark (386 chars)

    Stunning top floor Park Slade condo! This rare gem offers 2 bedrooms, 2 full bath baths with beautiful neutral decor featuring gorgeous crown molding, tile flooring, wood burning fireplace and 1 car garage. New windows installed last year, tons of closet space and large balcony for outdoor lounging or entertaining. This one won't last long! Please give 24 hr notice for all showings

17. 2020-07-30
    status Pending 386-char remark

    Show marketing remark (386 chars)

    Stunning top floor Park Slade condo! This rare gem offers 2 bedrooms, 2 full bath baths with beautiful neutral decor featuring gorgeous crown molding, tile flooring, wood burning fireplace and 1 car garage. New windows installed last year, tons of closet space and large balcony for outdoor lounging or entertaining. This one won't last long! Please give 24 hr notice for all showings

18. 2020-07-04
    historical Active Under Contract 386-char remark

    Show marketing remark (386 chars)

    Stunning top floor Park Slade condo! This rare gem offers 2 bedrooms, 2 full bath baths with beautiful neutral decor featuring gorgeous crown molding, tile flooring, wood burning fireplace and 1 car garage. New windows installed last year, tons of closet space and large balcony for outdoor lounging or entertaining. This one won't last long! Please give 24 hr notice for all showings

19. 2020-06-30
    listed $159,900 Active 386-char remark

    Show marketing remark (386 chars)

    Stunning top floor Park Slade condo! This rare gem offers 2 bedrooms, 2 full bath baths with beautiful neutral decor featuring gorgeous crown molding, tile flooring, wood burning fireplace and 1 car garage. New windows installed last year, tons of closet space and large balcony for outdoor lounging or entertaining. This one won't last long! Please give 24 hr notice for all showings

20. 2003-06-03
    soldstatus $85,000
21. 2003-05-28
    soldstatus $85,000
22. 2003-05-07
    historical
23. 2003-05-01
    listed $84,944
24. 1994-01-17
    soldstatus $79,500
25. 1987-09-16
    soldstatus $77,000

ⓘ 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: $2,626 · $219/mo
• Projected year-2 tax: $2,626 · $219/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 5/10 Major 23% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,787
• − Mortgage interest: −$7,282
• − Property taxes: −$2,626
• − Insurance: −$650
• − Repairs & maintenance: −$2,063
• − Management: −$2,063
• − HOA: −$3,000
• − Depreciation: −$3,782
• Taxable income: $4,321
• Est. tax owed @ 24.0%: −$1,037
• After-tax cash flow: $4,878/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): 37,276
• Household income: $90,131
• Rent vs Own: 33.1% rent · 66.9% own
• Severe rent burden: 1588.0

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 0.59)
• Race & ethnicity: White 47% Black 43% Hispanic / Latino 4% Two or more races 4% Asian 3%
• Common ancestry: Scotch-Irish 4% Romanian 3% Subsaharan African 2%
• Foreign-born: 12% · Canada, China
• Languages at home: 85% English-only · Spanish 4% Other Indo-European 2% Russian/Polish/Slavic 2%

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: ▼ -299.14%
• Current HPI: 237.5825
• Rent YoY: ▲ 5.64%
• 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

+68.8% since first listed

12 events — show timeline

• 2026-05-07 Listed $130,000 BRIGHT MLS
• 2020-12-03 Sold (Public Records) $150,000 Public Records
• 2020-07-31 Sold (MLS) $150,000 BRIGHT MLS
• 2020-07-30 Pending — BRIGHT MLS
• 2020-07-04 Contingent — BRIGHT MLS
• 2020-06-30 Listed $159,900 BRIGHT MLS
• 2003-06-03 Sold (Public Records) $85,000 Public Records
• 2003-05-28 Sold (MLS) $85,000 MRIS
• 2003-05-07 Delisted — MRIS
• 2003-05-01 Listed $84,944 MRIS
• 1994-01-17 Sold (Public Records) $79,500 Public Records
• 1987-09-16 Sold (Public Records) $77,000 Public Records

Property tax history

-1.1%/yr

Latest (2025): $2,626 · +4.1% YoY. Source: county tax records.