2230 Wilkens Ave · Baltimore, MD 21223

$119,000

3 bd · 1.0 ba · 1,020 sqft · Townhouse public records · 258 Days on market

Built 1920 1,120 sqft lot $117/sqft · 168% above area

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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
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• ARV discount +7.5/15.0
• 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

Back on Market at no fault to seller! Will not last! Attention savvy investors! Don’t miss your chance to acquire this beautifully renovated rowhome, currently rented by a stable tenant who pays $1,250 a month, ensuring immediate cash flow from day one! Step inside and be captivated by the airy living room, drenched in natural light and perfect for cozy gatherings or entertaining guests. The seamless flow from the dining area to the modern kitchen makes this space both functional and inviting, ideal for today’s lifestyle. Upstairs, discover three spacious bedrooms, each featuring large windows that flood the rooms with sunlight, creating a warm and inviting atmosphere. The unfinished basement offers incredible potential—transform it into bonus rooms, a home gym, or additional storage to maximize your investment. With its stylish modern finishes and classic Baltimore exposed brick charm, this property not only stands out but also offers tremendous long-term value.

Key facts

• Unfinished basement
• Airy living room
• Renovated rowhome

Tags

• RENOVATED ROWHOME
• AIRY LIVING ROOM
• MODERN KITCHEN
• UNFINISHED BASEMENT
• BALTIMORE EXPOSED BRICK

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $119k.

Deal economics

• At list price, monthly cash flow is $584 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $119k).
• Recommended offer: $105k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.2% 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); 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• This rent runs 44% 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 $823 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 + 7.5% rent growth), your $33k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 258 days — a 12% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 26y ago; this cycle's ask has dropped $13k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $119k implies a 297% gain — meaningful room to come down on a strong offer.

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 $104,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 258 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: 1.40% ✓
• Cap rate: 12.18%
• Cash-on-cash: 21.04%
• DSCR: 1.94
• GRM: 5.9

CMA / ARV

• ARV (median comp): $44,332
• List price: $119,000
• Delta: 168.43%
• 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
528 S Bentalou St	0.05mi	4/3.0 (+1)	1,032 (+1%)	0mo	$190,000	$184	82
2130 Eagle St	0.09mi	4/2.0 (+1)	1,000 (-2%)	2mo	$78,110	$78	82
2402 Wilkens Ave	0.13mi	2/1.0 (-1)	1,092 (+7%)	0mo	$45,000	$41	77
2408 Wilkens Ave	0.14mi	3/2.0	1,092 (+7%)	2mo	$99,900	$91	76
205 S Bentalou St	0.26mi	3/1.0	1,080 (+6%)	5mo	$38,500	$36	74
2008 Wilkens Ave	0.19mi	2/1.5 (-1)	1,100 (+8%)	4mo	$145,000	$132	68
1910 W Fayette St	0.65mi	3/1.0	1,020 (0%)	4mo	$39,000	$38	66
420 S Smallwood St	0.12mi	3/3.5	910 (-11%)	4mo	$100,000	$110	63
305 S Calhoun St	0.71mi	3/1.0	1,008 (-1%)	4mo	$40,000	$40	62
43 Wheeler Ave N	0.59mi	3/1.0	1,144 (+12%)	3mo	$34,000	$30	50
1404 Lemmon St	0.72mi	3/2.0	1,100 (+8%)	1mo	$189,000	$172	48
1927 Penrose Ave	0.74mi	3/1.0	1,170 (+15%)	4mo	$40,000	$34	38

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: 18.2%
• Equity multiple: 1.78×
• Total profit: $25,824
• Equity at exit: $17,743

10-year hold

• IRR: 29.4%
• Equity multiple: 4.18×
• Total profit: $105,987
• Equity at exit: $10,289

Cash invested: $33,320 (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: 5.9×

Monthly cashflow live

• Estimated rent: $1,671 high
• Mortgage (P&I): −$624
• Tax from tax record: −$62 /mo · $744/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $584

Break-even live

Break-even rent $931

Max offer price $119,000

Occupancy floor 60%

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
514 S Payson St Unit 2 Baltimore, MD	3.0	2.0	1264	$1,750	$1.38	44d	1	0.18mi
307 S Smallwood St Baltimore, MD	2.0	2.5	1400	$1,350	$0.96	44d	1	0.20mi
2514 Wilkens Ave Baltimore, MD	4.0	1.0	1344	$1,800	$1.34	11d	1	0.22mi
2514 Wilkens Ave Baltimore, MD	4.0	1.0	1344	$1,800	$1.34	44d	1	0.22mi
2509 Christian St Baltimore, MD	4.0	2.0	1248	$1,699	$1.36	3d	1	0.23mi
2540 Frederick Ave Baltimore, MD	3.0	1.0	1075	$1,400	$1.30	24d	1	0.34mi
332 S Franklintown Rd Unit 2 Baltimore, MD	2.0	1.0	776	$795	$1.02	24d	1	0.39mi
2671 Saint Benedict St Baltimore, MD	2.0	1.0	1144	$1,325	$1.16	44d	1	0.40mi
110 S Catherine St Unit 1 Baltimore, MD	2.0	1.0	1330	$1,500	$1.13	44d	1	0.40mi
2657 Lehman St Unit 1 Baltimore, MD	2.0	1.0	1056	$1,000	$0.95	44d	1	0.40mi
2225 W Baltimore St Baltimore, MD	3.0	2.5	1200	$1,600	$1.33	24d	1	0.47mi
2232 W Baltimore St Baltimore, MD	3.0	1.0	1250	$1,875	$1.50	24d	1	0.50mi
2738 Wilkens Ave Baltimore, MD	3.0	1.0	1183	$1,500	$1.27	44d	1	0.52mi
2516 Hollins St Baltimore, MD	3.0	2.0	1100	$1,700	$1.55	44d	1	0.52mi
2537 Hollins St Baltimore, MD	3.0	2.0	1200	$1,450	$1.21	24d	1	0.52mi
2737 Wilkens Ave Baltimore, MD	3.0	1.5	1232	$1,650	$1.34	4d	1	0.52mi
1918 W Baltimore St Baltimore, MD	2.0–3.0	1.0–2.0	857	$1,434	$1.67	44d	1	0.54mi
1912 W Baltimore St Unit 2 Baltimore, MD	2.0	1.5	1200	$2,100	$1.75	24d	1	0.54mi
62 N Gorman Ave Baltimore, MD	3.0	2.0	1100	$2,500	$2.27	18d	1	0.58mi
1635 Frederick Ave Baltimore, MD	3.0	2.0	1224	$1,850	$1.51	44d	1	0.61mi
1839 W Fayette St Baltimore, MD	3.0	1.5	1426	$1,675	$1.17	24d	1	0.62mi
1601 Frederick Ave Unit 3 Baltimore, MD	2.0	1.0	1050	$1,050	$1.00	4d	1	0.67mi
305 S Calhoun St Baltimore, MD	2.0	1.0	1000	$1,300	$1.30	22d	1	0.68mi
1324 W Lombard St Unit 1 Baltimore, MD	2.0	2.0	1100	$1,500	$1.36	24d	1	0.76mi
1324 W Lombard St Unit 2 Baltimore, MD	2.0	1.5	1100	$1,450	$1.32	44d	1	0.76mi
2012 W Saratoga St Baltimore, MD	3.0	1.0	1300	$1,700	$1.31	24d	1	0.77mi
1262 Glyndon Ave Baltimore, MD	2.0	3.0	1258	$1,850	$1.47	24d	1	0.77mi
1303 James St Baltimore, MD	2.0	1.5	1160	$1,350	$1.16	24d	1	0.78mi
1315 Hollins St Unit 2 Baltimore, MD	3.0	2.0	1096	$1,860	$1.70	4d	1	0.79mi
1315 Hollins St Unit 2 Baltimore, MD	3.0	2.0	1096	$1,950	$1.78	12d	1	0.79mi
1846 W Saratoga St Unit 1 Baltimore, MD	2.0	1.0	1250	$1,300	$1.04	44d	1	0.80mi
1432 Carroll St Baltimore, MD	2.0	1.5	912	$1,900	$2.08	44d	1	0.80mi
1101 S Carey St Baltimore, MD	2.0	2.0	1400	$1,200	$0.86	22d	1	0.80mi
1127 S Carey St Baltimore, MD	3.0	2.5	1340	$1,900	$1.42	4d	1	0.83mi
10 S Carey St Baltimore, MD	2.0	1.0	1140	$1,550	$1.36	24d	1	0.84mi
104 S Carrollton Ave Baltimore, MD	3.0	4.0	1232	$2,400	$1.95	4d	1	0.85mi
1253 Sargeant St Baltimore, MD	2.0	1.5	1200	$1,695	$1.41	24d	1	0.85mi
1215 James St Baltimore, MD	2.0	1.0	960	$1,500	$1.56	44d	1	0.85mi
1259 Washington Blvd Baltimore, MD	3.0	3.0	1232	$2,999	$2.43	4d	1	0.86mi
1519 Penrose Ave Baltimore, MD	3.0	2.0	1200	$1,875	$1.56	44d	1	0.86mi

Listing history 28 events

1. 2026-06-18
   days on market $119,000 Active 258 DOM
2. 2026-06-17
   days on market $119,000 Active 257 DOM
3. 2026-06-16
   days on market $119,000 Active 256 DOM
4. 2026-06-15
   days on market $119,000 Active 255 DOM
5. 2026-06-13
   days on market $119,000 Active 253 DOM
6. 2026-06-09
   days on market $119,000 Active 249 DOM
7. 2026-06-08
   days on market $119,000 Active 248 DOM
8. 2026-06-07
   days on market $119,000 Active 247 DOM
9. 2026-06-04
   days on market $119,000 Active 244 DOM
10. 2026-06-03
    days on market $119,000 Active 243 DOM
11. 2026-06-02
    days on market $119,000 Active 242 DOM
12. 2026-06-01
    days on market $119,000 Active 241 DOM
13. 2026-05-31
    days on market $119,000 Active 240 DOM
14. 2026-02-02
    price $119,000 996-char remark

    Show marketing remark (996 chars)

    Back on Market at no fault to seller! Will not last! Attention savvy investors! Don’t miss your chance to acquire this beautifully renovated rowhome, currently rented by a stable tenant who pays $1,250 a month, ensuring immediate cash flow from day one! Step inside and be captivated by the airy living room, drenched in natural light and perfect for cozy gatherings or entertaining guests. The seamless flow from the dining area to the modern kitchen makes this space both functional and inviting, ideal for today’s lifestyle. Upstairs, discover three spacious bedrooms, each featuring large windows that flood the rooms with sunlight, creating a warm and inviting atmosphere. The unfinished basement offers incredible potential—transform it into bonus rooms, a home gym, or additional storage to maximize your investment. With its stylish modern finishes and classic Baltimore exposed brick charm, this property not only stands out but also offers tremendous long-term value.

15. 2025-10-23
    price $125,000 996-char remark

    Show marketing remark (996 chars)

    Back on Market at no fault to seller! Will not last! Attention savvy investors! Don’t miss your chance to acquire this beautifully renovated rowhome, currently rented by a stable tenant who pays $1,250 a month, ensuring immediate cash flow from day one! Step inside and be captivated by the airy living room, drenched in natural light and perfect for cozy gatherings or entertaining guests. The seamless flow from the dining area to the modern kitchen makes this space both functional and inviting, ideal for today’s lifestyle. Upstairs, discover three spacious bedrooms, each featuring large windows that flood the rooms with sunlight, creating a warm and inviting atmosphere. The unfinished basement offers incredible potential—transform it into bonus rooms, a home gym, or additional storage to maximize your investment. With its stylish modern finishes and classic Baltimore exposed brick charm, this property not only stands out but also offers tremendous long-term value.

16. 2025-10-03
    listed $132,000 Active 996-char remark

    Show marketing remark (996 chars)

    Back on Market at no fault to seller! Will not last! Attention savvy investors! Don’t miss your chance to acquire this beautifully renovated rowhome, currently rented by a stable tenant who pays $1,250 a month, ensuring immediate cash flow from day one! Step inside and be captivated by the airy living room, drenched in natural light and perfect for cozy gatherings or entertaining guests. The seamless flow from the dining area to the modern kitchen makes this space both functional and inviting, ideal for today’s lifestyle. Upstairs, discover three spacious bedrooms, each featuring large windows that flood the rooms with sunlight, creating a warm and inviting atmosphere. The unfinished basement offers incredible potential—transform it into bonus rooms, a home gym, or additional storage to maximize your investment. With its stylish modern finishes and classic Baltimore exposed brick charm, this property not only stands out but also offers tremendous long-term value.

17. 2025-09-30
    historical
18. 2025-09-23
    status Active
19. 2025-08-30
    historical Active Under Contract
20. 2025-08-15
    price $132,000
21. 2025-08-08
    listed $135,000 Active
22. 2005-03-11
    soldstatus $30,000
23. 2005-02-01
    historical
24. 2005-01-26
    listed $22,500
25. 2000-12-30
    historical
26. 2000-06-01
    listed
27. 1997-12-04
    soldstatus $39,900
28. 1996-09-03
    soldstatus $11,550

ⓘ 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: $744 · $62/mo
• Projected year-2 tax: $1,020 · $85/mo
• Expected delta: +$277/yr (+$23/mo · 37.2%)

ⓘ 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: $20,048
• − Mortgage interest: −$6,666
• − Property taxes: −$744
• − Insurance: −$595
• − Repairs & maintenance: −$1,604
• − Management: −$1,604
• − Depreciation: −$3,462
• Taxable income: $5,374
• Est. tax owed @ 24.0%: −$1,290
• After-tax cash flow: $5,721/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

+930.3% since first listed

15 events — show timeline

• 2026-02-02 Price Changed $119,000 BRIGHT MLS
• 2025-10-23 Price Changed $125,000 BRIGHT MLS
• 2025-10-03 Listed $132,000 BRIGHT MLS
• 2025-09-30 Listing Removed — BRIGHT MLS
• 2025-09-23 Relisted — BRIGHT MLS
• 2025-08-30 Contingent — BRIGHT MLS
• 2025-08-15 Price Changed $132,000 BRIGHT MLS
• 2025-08-08 Listed $135,000 BRIGHT MLS
• 2005-03-11 Sold (MLS) $30,000 MRIS
• 2005-02-01 Delisted — MRIS
• 2005-01-26 Listed $22,500 MRIS
• 2000-12-30 Delisted — MRIS
• 2000-06-01 Listed — MRIS
• 1997-12-04 Sold (Public Records) $39,900 Public Records
• 1996-09-03 Sold (Public Records) $11,550 Public Records

Property tax history

+1.1%/yr

Latest (2025): $744 · +15.9% YoY. Source: county tax records.