811 George St · Baltimore, MD 21201

$195,000

3 bd · 2.5 ba · 1,408 sqft · Townhouse public records · 292 Days on market

Built 2002 2,047 sqft lot $138/sqft · 10% below area Est $324k · 40% under $42/mo HOA · 2% of rent

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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 +15.8/30.0
• ARV discount +15.0/15.0
• DSCR +4.9/10.0
• 1% rule +4.5/10.0
• Livability +3.8/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Priced reduced. The home is 23 years young. great Baltimore neighborhood, formal living/dining room, two and a half baths, has master bath, private parking pad in rear, add your own personal touch. the perfect blend of city living with a neighborhood feel, located close to M & T bank Stadium, Mercy Hospital, , the Inner Harbor and downtown amenities, major commuting routs. Must be seen to appreciate, Please try to give 24 hour notice before showing however if not possible call the listing agent who will try to arrange your showing at your desired date and time. hospital

Key facts

• $42 HOA
• Built 2002
• Listed 292 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $195k.

Deal economics

• At list price, monthly cash flow is $89 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $185k (5.2% below list).
• Recommended offer: $172k (12.0% below list) — sets the bar for market timing.

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 flat; 61 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• At $1,848/mo this rent would consume 49% of the median local household income ($46k/yr) (locally 2648% 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 $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• It's been on market 292 days — a 12% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.
• Current owner paid $73k; list at $195k implies a 165% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $171,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 292 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 0.95% ✗
• Cap rate: 6.84%
• Cash-on-cash: 1.96%
• DSCR: 1.09
• GRM: 8.8

CMA / ARV

• ARV (median comp): $324,213
• List price: $195,000
• Delta: -39.85%
• 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
605 N Fremont Ave N	0.07mi	3/3.0	1,440 (+2%)	0mo	$185,000	$128	90
1013 Myrtle Ave	0.15mi	3/2.5	1,440 (+2%)	3mo	$185,000	$128	86
811 N Mount St	0.71mi	3/2.0	1,410 (+0%)	3mo	$85,000	$60	62
116 Violet Hill White Way	0.35mi	3/3.5	1,575 (+12%)	2mo	$245,000	$156	58
738 Mchenry St	0.73mi	3/2.0	1,380 (-2%)	6mo	$282,500	$205	56
616 Jasper St	0.51mi	2/1.0 (-1)	1,365 (-3%)	8mo	$250,000	$183	54
512 Saint Mary St	0.46mi	2/2.5 (-1)	1,568 (+11%)	2mo	$305,000	$195	53
1503 W Fairmount Ave	0.69mi	3/2.5	1,542 (+10%)	4mo	$190,000	$123	49
1110 W Lombard St	0.62mi	3/2.5	1,206 (-14%)	1mo	$180,000	$149	47
1022 W Lombard St	0.59mi	4/2.0 (+1)	1,550 (+10%)	3mo	$138,500	$89	46
835 1/2 W Lombard St	0.59mi	3/1.0	1,242 (-12%)	2mo	$255,000	$205	45
121 Parkin St	0.62mi	3/2.0	1,208 (-14%)	0mo	$175,000	$145	45

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 · 0.28% rent growth · sell at horizon

5-year hold

• IRR: -16.3%
• Equity multiple: 0.44×
• Total profit: $-30,811
• Equity at exit: $29,075

10-year hold

• IRR: -13.9%
• Equity multiple: 0.30×
• Total profit: $-38,492
• Equity at exit: $16,860

Cash invested: $54,600 (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 21201

• Home prices YoY: -3.8%
• Rents YoY: 0.3%
• Active inventory: 61
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,848 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$225 /mo · $2,699/yr
• Insurance: −$81
• HOA: −$42
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $89

Break-even live

Break-even rent $1,735

Max offer price $195,000

Occupancy floor 90%

Sensitivity live

Price	-10% $199	-5% $144	+0% $89	+5% $34	+10% $-21
Rent	-10% $-57	-5% $16	+0% $89	+5% $162	+10% $235
Rate	-1.0pp $187	-0.5pp $139	base $89	+0.5pp $38	+1.0pp $-13

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1049 Brantley Ave Unit 2 Baltimore, MD	3.0	1.0	1200	$1,350	$1.12	24d	1	0.20mi
101 N Schroeder St Baltimore, MD	3.0	1.0–2.0	1037	$3,185	$3.07	3d	12	0.33mi
910 N Arlington Ave Unit 2 Baltimore, MD	4.0	2.0	1220	$1,850	$1.52	24d	1	0.40mi
1315 Harlem Ave Unit C Baltimore, MD	2.0	1.0	900	$1,425	$1.58	44d	1	0.42mi
1315 Harlem Ave Unit B Baltimore, MD	2.0	1.0	900	$1,425	$1.58	24d	1	0.42mi
617 W Lexington St Baltimore, MD	1.0–2.0	1.0	975	$2,200	$2.26	10d	4	0.46mi
804 Hollins St Unit 1 Baltimore, MD	3.0	2.0	1800	$2,700	$1.50	5d	1	0.50mi
1000 Hollins St Unit 1000 Hollins Baltimore, MD	3.0	2.5	1472	$2,600	$1.77	45d	1	0.50mi
422 W Franklin St Apt 1B Baltimore, MD	2.0	2.0	970	$1,500	$1.55	44d	1	0.52mi
1509 Edmondson Ave #1 Baltimore, MD	3.0	2.0	1600	$2,275	$1.42	24d	1	0.52mi
628 N Eutaw St Baltimore, MD	1.0–3.0	1.0–2.0	824	$1,854	$2.25	2d	6	0.56mi
913 W Lombard St Baltimore, MD	3.0	1.0	1452	$1,600	$1.10	24d	1	0.57mi
10 S Carey St Baltimore, MD	2.0	1.0	1140	$1,550	$1.36	24d	1	0.58mi
834 N Stricker St Baltimore, MD	4.0	1.0	1200	$1,500	$1.25	21d	1	0.58mi
1519 Penrose Ave Baltimore, MD	3.0	2.0	1200	$1,875	$1.56	44d	1	0.58mi
110 S Poppleton St Baltimore, MD	3.0	1.5	1800	$1,900	$1.06	44d	1	0.59mi
1518 1/2 W Lexington St Baltimore, MD	2.0	2.0	1650	$1,200	$0.73	5d	1	0.59mi
319 W Mulberry St Unit 2 Baltimore, MD	2.0	2.0	1115	$1,350	$1.21	44d	1	0.60mi
305 W Monument St Baltimore, MD	1.0–2.0	1.0–2.0	1039	$2,000	$1.92	5d	4	0.61mi
1111 W Lombard St Baltimore, MD	3.0	1.0	1200	$1,295	$1.08	5d	1	0.62mi
306 W Franklin St Baltimore, MD	1.0–2.0	1.0–2.0	733	$1,822	$2.48	3d	5	0.62mi
1115 W Lombard St Baltimore, MD	3.0	1.0	1468	$2,100	$1.43	44d	1	0.62mi
1409 McCulloh St Unit McCulloh UA Baltimore, MD	2.0	1.5	1080	$1,550	$1.44	44d	1	0.62mi
1625 Edmondson Ave Unit 2 Baltimore, MD	4.0	3.0	1500	$1,895	$1.26	13d	1	0.62mi
1625 Edmondson Ave Unit 1 Baltimore, MD	4.0	3.0	1500	$2,175	$1.45	5d	1	0.62mi
1315 Hollins St Unit 2 Baltimore, MD	3.0	2.0	1096	$1,860	$1.70	5d	1	0.64mi
1315 Hollins St Unit 2 Baltimore, MD	3.0	2.0	1096	$1,950	$1.78	13d	1	0.64mi
104 S Carrollton Ave Baltimore, MD	3.0	4.0	1232	$2,400	$1.95	5d	1	0.65mi
1324 W Lombard St Unit 2 Baltimore, MD	2.0	1.5	1100	$1,450	$1.32	44d	1	0.68mi
1324 W Lombard St Unit 1 Baltimore, MD	2.0	2.0	1100	$1,500	$1.36	24d	1	0.68mi
226 W Monument St Unit 1R Baltimore, MD	2.0	1.0	950	$1,250	$1.32	24d	1	0.68mi
1123 N Eutaw St Baltimore, MD	2.0	2.0	1052	$1,582	$1.50	5d	4	0.69mi
300 W Fayette St Baltimore, MD	3.0	1.0–3.0	1267	$2,250	$1.78	3d	9	0.71mi
847 McHenry St Baltimore, MD	2.0	2.0	952	$1,795	$1.89	5d	1	0.72mi
923 McHenry St Baltimore, MD	3.0	1.0	1008	$1,625	$1.61	44d	1	0.72mi
748 McHenry St Baltimore, MD	3.0	2.0	1288	$2,100	$1.63	5d	1	0.72mi
803 McHenry St Baltimore, MD	4.0	2.5	1856	$2,599	$1.40	3d	1	0.72mi
305 W Fayette St Baltimore, MD	1.0–2.0	1.0–2.0	895	$1,640	$1.83	44d	1	0.72mi
1 S Eutaw St Unit 2BR Baltimore, MD	2.0	2.0	1165	$1,580	$1.36	22d	1	0.74mi
1601 Frederick Ave Unit 3 Baltimore, MD	2.0	1.0	1050	$1,050	$1.00	5d	1	0.74mi

HOA detail

• Monthly dues: $42 · $504/yr

Listing history 18 events

1. 2026-06-18
   days on market $195,000 Active 292 DOM
2. 2026-06-17
   days on market $195,000 Active 291 DOM
3. 2026-06-16
   days on market $195,000 Active 290 DOM
4. 2026-06-15
   days on market $195,000 Active 289 DOM
5. 2026-06-13
   days on market $195,000 Active 287 DOM
6. 2026-06-09
   days on market $195,000 Active 283 DOM
7. 2026-06-08
   days on market $195,000 Active 282 DOM
8. 2026-06-07
   days on market $195,000 Active 281 DOM
9. 2026-06-04
   days on market $195,000 Active 278 DOM
10. 2026-06-03
    days on market $195,000 Active 277 DOM
11. 2026-06-02
    days on market $195,000 Active 276 DOM
12. 2026-06-01
    days on market $195,000 Active 275 DOM
13. 2026-05-31
    days on market $195,000 Active 274 DOM
14. 2026-03-27
    price $195,000 581-char remark

    Show marketing remark (581 chars)

    Priced reduced. The home is 23 years young. great Baltimore neighborhood, formal living/dining room, two and a half baths, has master bath, private parking pad in rear, add your own personal touch. the perfect blend of city living with a neighborhood feel, located close to M & T bank Stadium, Mercy Hospital, , the Inner Harbor and downtown amenities, major commuting routs. Must be seen to appreciate, Please try to give 24 hour notice before showing however if not possible call the listing agent who will try to arrange your showing at your desired date and time. hospital

15. 2025-09-13
    status Active 581-char remark

    Show marketing remark (581 chars)

    Priced reduced. The home is 23 years young. great Baltimore neighborhood, formal living/dining room, two and a half baths, has master bath, private parking pad in rear, add your own personal touch. the perfect blend of city living with a neighborhood feel, located close to M & T bank Stadium, Mercy Hospital, , the Inner Harbor and downtown amenities, major commuting routs. Must be seen to appreciate, Please try to give 24 hour notice before showing however if not possible call the listing agent who will try to arrange your showing at your desired date and time. hospital

16. 2025-09-03
    historical 581-char remark

    Show marketing remark (581 chars)

    Priced reduced. The home is 23 years young. great Baltimore neighborhood, formal living/dining room, two and a half baths, has master bath, private parking pad in rear, add your own personal touch. the perfect blend of city living with a neighborhood feel, located close to M & T bank Stadium, Mercy Hospital, , the Inner Harbor and downtown amenities, major commuting routs. Must be seen to appreciate, Please try to give 24 hour notice before showing however if not possible call the listing agent who will try to arrange your showing at your desired date and time. hospital

17. 2025-08-20
    listed $200,000 Active 581-char remark

    Show marketing remark (581 chars)

    Priced reduced. The home is 23 years young. great Baltimore neighborhood, formal living/dining room, two and a half baths, has master bath, private parking pad in rear, add your own personal touch. the perfect blend of city living with a neighborhood feel, located close to M & T bank Stadium, Mercy Hospital, , the Inner Harbor and downtown amenities, major commuting routs. Must be seen to appreciate, Please try to give 24 hour notice before showing however if not possible call the listing agent who will try to arrange your showing at your desired date and time. hospital

18. 2003-04-29
    soldstatus $73,475

ⓘ 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: $2,699 · $225/mo
• Projected year-2 tax: $2,699 · $225/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: $22,173
• − Mortgage interest: −$10,923
• − Property taxes: −$2,699
• − Insurance: −$975
• − Repairs & maintenance: −$1,774
• − Management: −$1,774
• − HOA: −$504
• − Depreciation: −$5,673
• Taxable loss: −$2,148
• Est. tax savings @ 24.0%: +$516
• After-tax cash flow: $1,583/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): 18,307
• Household income: $45,640
• Rent vs Own: 89.0% rent · 11.0% own
• Severe rent burden: 2648.0

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 0.57)
• Race & ethnicity: Black 61% White 23% Two or more races 7% Asian 5% Hispanic / Latino 5%
• Common ancestry: Romanian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 11% · Canada, China, South Korea
• Languages at home: 84% English-only · Spanish 5% Other Indo-European 2% Chinese 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: ▼ -10.03%
• Current HPI: 257.3988
• Rent YoY: ▲ 0.28%
• 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

+165.4% since first listed

5 events — show timeline

• 2026-03-27 Price Changed $195,000 BRIGHT MLS
• 2025-09-13 Relisted — BRIGHT MLS
• 2025-09-03 Listing Removed — BRIGHT MLS
• 2025-08-20 Listed $200,000 BRIGHT MLS
• 2003-04-29 Sold (Public Records) $73,475 Public Records

Property tax history

+2.3%/yr

Latest (2025): $2,699 · +0.3% YoY. Source: county tax records.