2420 Calverton Heights Ave · Baltimore, MD 21216

$124,000

4 bd · 1.0 ba · 1,476 sqft · Townhouse public records · 208 Days on market

Built 1920 1,307 sqft lot $84/sqft · 43% below area Est $217k · 43% 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 +4.0/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

FULL- SERVICE LISTING!! This three-level rowhome offers large living spaces with high ceilings and multiple potential development opportunities, making it ideal for investors or homeowners seeking both comfort and growth potential. Key Features and Advantages: Large Room Sizes, Tall Ceilings, Three Levels, Potential for Development, Investment and Renovation Opportunities: With ample room sizes and vertical height, this rowhome could be reconfigured to enhance functionality or myriad redevelopment options in the basement.

Key facts

• Three levels
• Large living spaces
• Built 1920

Tags

• LARGE LIVING SPACES
• THREE LEVELS

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath townhouse listed at $124k.

Deal economics

• At list price, monthly cash flow is $582 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $124k).
• Recommended offer: $109k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.9% 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 at typical pace (median 24d 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).
• At $1,926/mo this rent would consume 55% 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 $857 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 $35k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 208 days — a 12% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 29y ago; this cycle's ask has dropped $21k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $109,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 208 days. Have you received any prior offers? Is the seller open to a 12% 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: 1.55% ✓
• Cap rate: 11.92%
• Cash-on-cash: 20.11%
• DSCR: 1.89
• GRM: 5.4

CMA / ARV

• ARV (median comp): $217,339
• List price: $124,000
• Delta: -42.95%
• 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
2404 W Lafayette Ave	0.06mi	3/2.0 (-1)	1,476 (0%)	2mo	$135,000	$91	87
2400 W Lafayette Ave	0.07mi	4/2.0	1,584 (+7%)	2mo	$263,000	$166	79
2514 W Lafayette Ave	0.08mi	3/2.0 (-1)	1,560 (+6%)	2mo	$232,000	$149	76
2822 Harlem Ave	0.44mi	5/3.0 (+1)	1,483 (+0%)	1mo	$220,000	$148	64
2435 Lauretta Ave	0.27mi	3/1.0 (-1)	1,260 (-15%)	1mo	$45,000	$36	57
1601 Ruxton Ave	0.60mi	3/1.0 (-1)	1,568 (+6%)	1mo	$90,000	$57	56
2711 Riggs Ave	0.38mi	3/1.0 (-1)	1,288 (-13%)	2mo	$134,000	$104	55
2829 Baker St	0.73mi	4/3.5	1,460 (-1%)	2mo	$215,400	$148	52
2927 Ellicott Dr	0.65mi	4/3.5	1,540 (+4%)	2mo	$230,000	$149	50
2425 Lauretta Ave	0.27mi	5/3.0 (+1)	1,260 (-15%)	1mo	$205,000	$163	49
2216 W Fayette St	0.61mi	3/1.5 (-1)	1,326 (-10%)	1mo	$77,000	$58	46
2516 W Fairmount Ave	0.65mi	3/1.0 (-1)	1,304 (-12%)	2mo	$30,000	$23	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 · 6.1% rent growth · sell at horizon

5-year hold

• IRR: 16.0%
• Equity multiple: 1.67×
• Total profit: $23,236
• Equity at exit: $18,489

10-year hold

• IRR: 26.9%
• Equity multiple: 3.75×
• Total profit: $95,367
• Equity at exit: $10,721

Cash invested: $34,720 (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: 5.4×

Monthly cashflow live

• Estimated rent: $1,926 high
• Mortgage (P&I): −$650
• Tax from tax record: −$238 /mo · $2,858/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$405
• Net cashflow: $582

Break-even live

Break-even rent $1,190

Max offer price $124,000

Occupancy floor 65%

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: $31,000
• Closing costs: $3,720
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2303 Calverton Heights Ave Baltimore, MD	4.0	2.0	1314	$2,250	$1.71	24d	1	0.11mi
918 N Bentalou St Baltimore, MD	3.0	1.5	1485	$1,750	$1.18	43d	1	0.14mi
2301 Riggs Ave Baltimore, MD	3.0	2.0	1072	$1,600	$1.49	24d	1	0.20mi
2609 Lauretta Ave Baltimore, MD	3.0	1.0	1286	$1,675	$1.30	24d	1	0.35mi
2636 Lauretta Ave Baltimore, MD	3.0	2.5	1232	$1,900	$1.54	43d	1	0.36mi
2744 W Mosher St Baltimore, MD	4.0	2.0	1412	$2,100	$1.49	24d	1	0.39mi
2728 Winchester St Baltimore, MD	3.0	1.5	1260	$1,800	$1.43	3d	1	0.43mi
1914 Mosher St Unit 1914 Baltimore, MD	4.0	2.5	1200	$1,700	$1.42	43d	1	0.44mi
2806 Riggs Ave Baltimore, MD	3.0	2.5	1412	$1,900	$1.35	3d	1	0.45mi
2815 W Mulberry St Baltimore, MD	4.0	2.0	1040	$2,050	$1.97	43d	1	0.53mi
2012 W Saratoga St Baltimore, MD	3.0	1.0	1300	$1,700	$1.31	24d	1	0.54mi
2922 Edmondson Ave Baltimore, MD	3.0	2.0	1620	$1,900	$1.17	43d	1	0.57mi
1501 N Payson St Baltimore, MD	3.0	1.0	1400	$1,550	$1.11	43d	1	0.62mi
3015 Rayner Ave Baltimore, MD	3.0	1.0	1152	$1,350	$1.17	43d	1	0.62mi
62 N Gorman Ave Baltimore, MD	3.0	2.0	1100	$2,500	$2.27	18d	1	0.63mi
2800 Presstman St Baltimore, MD	3.0	2.5	1460	$1,799	$1.23	24d	1	0.64mi
39 N Bentalou St Baltimore, MD	3.0	2.5	1844	$1,700	$0.92	3d	1	0.65mi
1402 Poplar Grove St Baltimore, MD	4.0	1.5	1540	$800	$0.52	43d	1	0.65mi
715 N Rosedale St Baltimore, MD	5.0	3.0	1542	$2,550	$1.65	43d	1	0.66mi
1613 Riggs Ave Baltimore, MD	3.0	2.5	1800	$1,800	$1.00	24d	1	0.69mi
1814 Penrose Ave Baltimore, MD	3.0	1.0	1624	$1,700	$1.05	18d	1	0.69mi
1625 Edmondson Ave Unit 1 Baltimore, MD	4.0	3.0	1500	$2,175	$1.45	4d	1	0.69mi
1625 Edmondson Ave Unit 2 Baltimore, MD	4.0	3.0	1500	$1,895	$1.26	12d	1	0.69mi
2232 W Baltimore St Baltimore, MD	3.0	1.0	1250	$1,875	$1.50	24d	1	0.71mi
2225 W Baltimore St Baltimore, MD	3.0	2.5	1200	$1,600	$1.33	24d	1	0.73mi
1816 N Bentalou St Baltimore, MD	3.0	2.0	1350	$1,700	$1.26	11d	1	0.76mi
1816 N Bentalou St Baltimore, MD	3.0	2.0	1350	$1,700	$1.26	24d	1	0.76mi
2516 Hollins St Baltimore, MD	3.0	2.0	1100	$1,700	$1.55	43d	1	0.77mi
834 N Stricker St Baltimore, MD	4.0	1.0	1200	$1,500	$1.25	20d	1	0.77mi
2405 W North Ave Baltimore, MD	4.0	3.0	1826	$1,900	$1.04	4d	1	0.78mi
1839 W Fayette St Baltimore, MD	3.0	1.5	1426	$1,675	$1.17	24d	1	0.78mi
1509 Edmondson Ave #1 Baltimore, MD	3.0	2.0	1600	$2,275	$1.42	24d	1	0.79mi
2537 Hollins St Baltimore, MD	3.0	2.0	1200	$1,450	$1.21	24d	1	0.79mi
1616 N Fulton Ave Baltimore, MD	3.0	2.0	1620	$1,795	$1.11	4d	1	0.80mi
1918 W Baltimore St Baltimore, MD	2.0–3.0	1.0–2.0	857	$1,434	$1.67	43d	1	0.80mi
1516 N Mount St Baltimore, MD	3.0	1.5	1830	$1,750	$0.96	15d	1	0.81mi
1722 N Monroe St Baltimore, MD	3.0	1.5	1000	$1,350	$1.35	24d	1	0.83mi
3238 Westmont Ave Baltimore, MD	3.0	1.0	1280	$1,600	$1.25	43d	1	0.84mi
2636 W North Ave Baltimore, MD	2.0–3.0	1.0–2.0	975	$1,475	$1.51	4d	1	0.85mi
1530 N Rosedale St Baltimore, MD	3.0	2.0	1641	$1,895	$1.15	15d	1	0.88mi

Listing history 14 events

1. 2026-03-23
   price $124,000 527-char remark

   Show marketing remark (527 chars)

   FULL- SERVICE LISTING!! This three-level rowhome offers large living spaces with high ceilings and multiple potential development opportunities, making it ideal for investors or homeowners seeking both comfort and growth potential. Key Features and Advantages: Large Room Sizes, Tall Ceilings, Three Levels, Potential for Development, Investment and Renovation Opportunities: With ample room sizes and vertical height, this rowhome could be reconfigured to enhance functionality or myriad redevelopment options in the basement.

2. 2026-03-10
   price $129,000 527-char remark

   Show marketing remark (527 chars)

   FULL- SERVICE LISTING!! This three-level rowhome offers large living spaces with high ceilings and multiple potential development opportunities, making it ideal for investors or homeowners seeking both comfort and growth potential. Key Features and Advantages: Large Room Sizes, Tall Ceilings, Three Levels, Potential for Development, Investment and Renovation Opportunities: With ample room sizes and vertical height, this rowhome could be reconfigured to enhance functionality or myriad redevelopment options in the basement.

3. 2026-02-27
   price $134,900 527-char remark

   Show marketing remark (527 chars)

   FULL- SERVICE LISTING!! This three-level rowhome offers large living spaces with high ceilings and multiple potential development opportunities, making it ideal for investors or homeowners seeking both comfort and growth potential. Key Features and Advantages: Large Room Sizes, Tall Ceilings, Three Levels, Potential for Development, Investment and Renovation Opportunities: With ample room sizes and vertical height, this rowhome could be reconfigured to enhance functionality or myriad redevelopment options in the basement.

4. 2025-10-31
   listed $144,900 Active 527-char remark

   Show marketing remark (527 chars)

   FULL- SERVICE LISTING!! This three-level rowhome offers large living spaces with high ceilings and multiple potential development opportunities, making it ideal for investors or homeowners seeking both comfort and growth potential. Key Features and Advantages: Large Room Sizes, Tall Ceilings, Three Levels, Potential for Development, Investment and Renovation Opportunities: With ample room sizes and vertical height, this rowhome could be reconfigured to enhance functionality or myriad redevelopment options in the basement.

5. 2024-01-03
   soldstatus $113,800
6. 2023-12-12
   soldstatus $113,800 Closed
7. 2023-10-22
   historical Active Under Contract
8. 2023-10-08
   listed $130,000 Active
9. 2000-03-17
   soldstatus $52,000
10. 2000-02-29
    soldstatus $52,000
11. 2000-01-24
    historical
12. 1999-09-11
    listed $55,000
13. 1999-08-29
    historical
14. 1997-08-31
    listed

ⓘ 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: $2,858 · $238/mo
• Projected year-2 tax: $2,858 · $238/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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,117
• − Mortgage interest: −$6,946
• − Property taxes: −$2,858
• − Insurance: −$620
• − Repairs & maintenance: −$1,849
• − Management: −$1,849
• − Depreciation: −$3,607
• Taxable income: $5,387
• Est. tax owed @ 24.0%: −$1,293
• After-tax cash flow: $5,689/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

+125.5% since first listed

14 events — show timeline

• 2026-03-23 Price Changed $124,000 BRIGHT MLS
• 2026-03-10 Price Changed $129,000 BRIGHT MLS
• 2026-02-27 Price Changed $134,900 BRIGHT MLS
• 2025-10-31 Listed $144,900 BRIGHT MLS
• 2024-01-03 Sold (Public Records) $113,800 Public Records
• 2023-12-12 Sold (MLS) $113,800 BRIGHT MLS
• 2023-10-22 Contingent — BRIGHT MLS
• 2023-10-08 Listed $130,000 BRIGHT MLS
• 2000-03-17 Sold (Public Records) $52,000 Public Records
• 2000-02-29 Sold (MLS) $52,000 MRIS
• 2000-01-24 Delisted — MRIS
• 1999-09-11 Listed $55,000 MRIS
• 1999-08-29 Delisted — MRIS
• 1997-08-31 Listed — MRIS

Property tax history

+3.7%/yr

Latest (2025): $2,858 · +11.9% YoY. Source: county tax records.