20 S Catherine St · Baltimore, MD 21223

$30,000

None bd · None ba · — sqft · Townhouse · 1 Days on market

Built 1900 1,306 sqft lot Est $55k · 45% under

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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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.4/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming traditional townhouse nestled in the desirable and growing Shipley Hill neighborhood. With a solid brick exterior, this property offers a long term tenant for a savvy investors looking to maximize returns, or a first time home buyer looking to secure future equity in a revitalizing vibrant community. This townhouse is poised for growth, making it an ideal investment for those looking to capitalize on the local real estate market or the first time home buyer. Don't miss your chance to start your 2026 real estate purchase with this property.

Key facts

• Frederick avenue
• Grace medical center
• Built 1900

Tags

• SHIPLEY HILL NEIGHBORHOOD
• WESTSIDE SHOPPING CENTER
• LOWER GWYNNS FALLS PARK
• GRACE MEDICAL CENTER
• FREDERICK AVENUE

🏷️ Possibly a rental listed for sale. The $30,000 price doesn't fit this home's estimated sale value (~$54,670) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a townhouse listed at $30k.

Deal economics

• At list price, monthly cash flow is $907 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Cap rate 42.6% 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 (+7.5%/yr); 422 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); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• This rent runs 37% of the median local income ($46k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $207 of loan paydown is wiped out by about $900 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 + 7.5% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $77k (72%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $30,000

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 4.70% ✓
• Cap rate: 42.57%
• Cash-on-cash: 129.57%
• DSCR: 6.77
• GRM: 1.8

CMA / ARV

• ARV (median comp): $54,670
• List price: $30,000
• Delta: 95.72%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2518 Mchenry St	0.20mi	3/1.0	—	0mo	$40,000	—	78
2521 Mchenry St	0.23mi	—/—	—	0mo	$17,000	—	77
2209 W Baltimore St	0.25mi	3/1.0	—	0mo	$25,000	—	76
2610 E Lehman St	0.40mi	2/1.0	—	0mo	$57,000	—	68
2004 Mchenry St	0.43mi	3/1.0	—	0mo	$25,000	—	67
528 S Bentalou St	0.47mi	4/3.0	1,032	0mo	$190,000	$184	65
2402 Wilkens Ave	0.51mi	2/1.0	1,092	0mo	$45,000	$41	63
2133 Wilkens Ave	0.55mi	—/—	—	0mo	$25,000	—	62
1824 W Fairmount Ave	0.56mi	—/—	—	0mo	$16,995	—	61
2401 Harlem Ave	0.63mi	6/3.5	3,200	0mo	$360,000	$113	58
537 Longwood St	0.68mi	4/2.0	1,176	0mo	$60,000	$51	55
8 Gilmor St	0.75mi	3/1.5	—	0mo	$40,000	—	53

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 · 7.51% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.10×
• Total profit: $59,617
• Equity at exit: $4,473

10-year hold

• IRR: —
• Equity multiple: 19.63×
• Total profit: $156,525
• Equity at exit: $2,594

Cash invested: $8,400 (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 21223

• Rents YoY: 7.5%
• Active inventory: 422
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $1,411 high
• Mortgage (P&I): −$157
• Tax est. 1.5%: −$38 /mo · $450/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $907

Break-even live

Break-even rent $262

Max offer price $30,000

Occupancy floor 31%

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2516 Hollins St Baltimore, MD	3.0	2.0	1100	$1,700	$1.55	44d	1	0.05mi
2537 Hollins St Baltimore, MD	3.0	2.0	—	$1,450	—	11d	1	0.09mi
2537 Hollins St Baltimore, MD	3.0	2.0	1200	$1,450	$1.21	24d	1	0.09mi
2410 W Baltimore St Baltimore, MD	3.0	1.0	—	$1,400	—	3d	1	0.09mi
2403 W Lombard St Baltimore, MD	3.0	1.0	—	$1,250	—	44d	1	0.10mi
2400 W Baltimore St Baltimore, MD	3.0	1.0	—	$1,450	—	44d	1	0.10mi
2518 W Fairmount Ave Baltimore, MD	3.0	1.0	—	$1,025	—	4d	1	0.12mi
110 S Catherine St Unit 1 Baltimore, MD	2.0	1.0	1330	$1,500	$1.13	44d	1	0.12mi
2550 W Lombard St Baltimore, MD	2.0	1.0	—	$995	—	44d	1	0.13mi
2550 W Lombard St Apt 1R Baltimore, MD	1.0	1.0	—	$995	—	44d	1	0.13mi
37 Wheeler Ave Baltimore, MD	3.0	2.0	—	$2,000	—	24d	1	0.16mi
6 S Franklintown Rd Unit 2E Private Bath Available $850 Baltimore, MD	1.0	1.0	—	$850	—	22d	1	0.16mi
6 S Franklintown Rd Baltimore, MD	1.0	1.0	—	$750	—	24d	1	0.16mi
50 N Gorman Ave Baltimore, MD	1.0	1.0	100	$650	$6.50	44d	1	0.17mi
2554 W Fayette St Baltimore, MD	3.0	1.0	—	$1,450	—	24d	1	0.18mi
62 N Gorman Ave Baltimore, MD	3.0	2.0	1100	$2,500	$2.27	18d	1	0.18mi
2232 W Baltimore St Baltimore, MD	3.0	1.0	1250	$1,875	$1.50	24d	1	0.21mi
2225 W Baltimore St Baltimore, MD	3.0	2.5	1200	$1,600	$1.33	24d	1	0.21mi
39 N Bentalou St Baltimore, MD	3.0	2.5	1844	$1,700	$0.92	3d	1	0.22mi
2243 W Fayette St Baltimore, MD	2.0	2.0	—	$1,400	—	15d	1	0.23mi
2311 W Lexington St Unit 1 Baltimore, MD	1.0	1.0	—	$950	—	2d	1	0.26mi
2311 W Lexington St Baltimore, MD	1.0	1.0	230	$900	$3.91	44d	1	0.26mi
2212 W Fayette St Baltimore, MD	3.0	1.0	—	$1,700	—	22d	1	0.28mi
2540 Frederick Ave Baltimore, MD	3.0	1.0	1075	$1,400	$1.30	24d	1	0.28mi
332 S Franklintown Rd Unit 2 Baltimore, MD	2.0	1.0	776	$795	$1.02	24d	1	0.29mi
2227 W Lexington St Baltimore, MD	3.0	1.0	—	$1,500	—	3d	1	0.29mi
307 S Smallwood St Baltimore, MD	2.0	2.5	1400	$1,350	$0.96	44d	1	0.34mi
2237 W Saratoga St Baltimore, MD	3.0	1.5	—	$1,650	—	44d	1	0.36mi
2101 McHenry St Baltimore, MD	1.0	1.0	—	$550	—	18d	1	0.39mi
2003 Hollins St Unit 2 Baltimore, MD	1.0	1.0	—	$795	—	44d	1	0.39mi
200 Harmison St Baltimore, MD	3.0	1.0	—	$1,300	—	44d	1	0.39mi
2621 Sloatfield Ave Baltimore, MD	3.0	1.0	—	$1,599	—	44d	1	0.40mi
476 S Bentalou St Baltimore, MD	2.0	1.5	1630	$1,300	$0.80	44d	1	0.41mi
2011 W Lexington St Baltimore, MD	3.0	1.0	—	$1,600	—	15d	1	0.42mi
2651 Frederick Ave Baltimore, MD	3.0	1.5	—	$1,350	—	3d	1	0.42mi
2133 W Mulberry St Baltimore, MD	2.0	1.5	—	$1,700	—	44d	1	0.46mi
2133 W Mulberry St Baltimore, MD	3.0	1.5	—	$1,650	—	16d	1	0.46mi
1918 W Baltimore St Baltimore, MD	2.0–3.0	1.0–2.0	857	$1,375	$1.60	44d	1	0.46mi
1912 W Baltimore St Unit 2 Baltimore, MD	2.0	1.5	1200	$2,100	$1.75	24d	1	0.47mi
338 S Payson St Baltimore, MD	2.0	1.0	—	$1,600	—	44d	1	0.47mi

Listing history 21 events

1. 2026-06-17
   remarks 699-char remark
2. 2026-06-17
   pricedays on marketlisting id $30,000 Active 1 DOM
3. 2026-06-16
   days on market $107,000 Active 142 DOM
4. 2026-06-15
   days on market $107,000 Active 141 DOM
5. 2026-06-13
   days on market $107,000 Active 139 DOM
6. 2026-06-09
   days on market $107,000 Active 135 DOM
7. 2026-06-08
   days on market $107,000 Active 134 DOM
8. 2026-06-07
   days on market $107,000 Active 133 DOM
9. 2026-06-04
   days on market $107,000 Active 130 DOM
10. 2026-06-03
    days on market $107,000 Active 129 DOM
11. 2026-06-02
    days on market $107,000 Active 128 DOM
12. 2026-06-01
    days on market $107,000 Active 127 DOM
13. 2026-05-31
    days on market $107,000 Active 126 DOM
14. 2026-01-25
    listed $107,000 Active 559-char remark

    Show marketing remark (559 chars)

    This charming traditional townhouse nestled in the desirable and growing Shipley Hill neighborhood. With a solid brick exterior, this property offers a long term tenant for a savvy investors looking to maximize returns, or a first time home buyer looking to secure future equity in a revitalizing vibrant community. This townhouse is poised for growth, making it an ideal investment for those looking to capitalize on the local real estate market or the first time home buyer. Don't miss your chance to start your 2026 real estate purchase with this property.

15. 2024-08-16
    historical
16. 2024-06-04
    listed $130,000 Active
17. 2021-09-16
    soldstatus $95,000
18. 2020-11-05
    soldstatus $50,000
19. 2020-10-09
    soldstatus $50,000 Closed
20. 2020-08-29
    status Pending
21. 2020-08-18
    listed $55,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 23% 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: $16,926
• − Mortgage interest: −$1,680
• − Property taxes: −$450
• − Insurance: −$150
• − Repairs & maintenance: −$1,354
• − Management: −$1,354
• − Depreciation: −$873
• Taxable income: $11,065
• Est. tax owed @ 24.0%: −$2,656
• After-tax cash flow: $8,228/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): 19,572
• Household income: $45,840
• Rent vs Own: 68.0% rent · 32.0% own
• Severe rent burden: 1755.0

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 (72%)
• Race & ethnicity: Black 72% White 16% Hispanic / Latino 7% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Romanian 1%
• Foreign-born: 8% · Canada
• Languages at home: 90% English-only · Spanish 6% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -97.99%
• Current HPI: 140.5836
• Rent YoY: ▲ 7.51%
• 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

+94.5% since first listed

8 events — show timeline

• 2026-01-25 Listed $107,000 BRIGHT MLS
• 2024-08-16 Listing Removed — BRIGHT MLS
• 2024-06-04 Listed $130,000 BRIGHT MLS
• 2021-09-16 Sold (Public Records) $95,000 Public Records
• 2020-11-05 Sold (Public Records) $50,000 Public Records
• 2020-10-09 Sold (MLS) $50,000 BRIGHT MLS
• 2020-08-29 Pending — BRIGHT MLS
• 2020-08-18 Listed $55,000 BRIGHT MLS

Property tax history

+9.9%/yr

Latest (2025): $1,531 · +8.3% YoY. Source: county tax records.