1818 Clifton Ave · Baltimore, MD 21217

$49,000

3 bd · 1.0 ba · 1,000 sqft · Townhouse · 104 Days on market

Built 1920 $49/sqft · 28% below area Est $68k · 28% under ↓ 18% since listing

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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 +4.2/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 level town home with wood floors main level & fenced back area; 1 mile to Druid Hill Park, The Baltimore Zoo, Mondawmin Station & Mall; Close to bus stops, major routes & shopping. Seller financing is available.

Key facts

• Druid hill park
• Fenced back area
• Wood floors

Tags

• WOOD FLOORS
• FENCED BACK AREA
• DRUID HILL PARK
• BALTIMORE ZOO
• MONDAWMIN STATION
• MAJOR ROUTES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $49k.

Deal economics

• At list price, monthly cash flow is $831 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $49k).
• Recommended offer: $45k (9.0% below list) — sets the bar for market timing.
• Cap rate 28.0% 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: 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.
• Zoned schools: Elmer A. Henderson: A Johns Hopkins Partnership (math 2% / reading 16%, grade F, #650 of 860 statewide, top 77%, 642 students, 80% FRL); Vanguard Collegiate Middle (math 3% / reading 15%, grade F, #212 of 225 statewide, top 95%, 343 students, 84% FRL); Baltimore Polytechnic Institute (math 71% / reading 84%, grade A-, #22 of 222 statewide, top 10%, 1,555 students, 43% FRL).
• Zoned-school proficiency averages 32% at this address vs 12% district-wide (+20 pts) — the actual schools serving this property are materially stronger than the Baltimore City Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+6.6%/yr); 333 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 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 $339 of loan paydown is wiped out by about $1k 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 + 6.6% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($45k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 18y 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

• Watch-outs: property tax is 3.1% of price; flood insurance adds $56/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; 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 $44,590 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 3.34% ✓
• Cap rate: 28.01%
• Cash-on-cash: 77.56%
• DSCR: 4.45
• GRM: 2.5

CMA / ARV

• ARV (median comp): $68,414
• List price: $49,000
• Delta: -28.38%
• 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
1603 Clifton Ave	0.10mi	3/1.0	1,100 (+10%)	2mo	$130,000	$118	77
2109 N Fulton Ave N	0.07mi	3/1.0	1,100 (+10%)	4mo	$35,000	$32	77
1834 Clifton Ave	0.02mi	3/1.5	1,110 (+11%)	11mo	$145,000	$131	69
1516 N Gilmor St	0.48mi	3/1.0	990 (-1%)	10mo	$50,000	$51	68
1705 N Payson St	0.31mi	3/1.5	1,100 (+10%)	5mo	$38,000	$35	63
2418 Etting St	0.35mi	2/1.0 (-1)	1,080 (+8%)	4mo	$53,500	$50	62
1541 N Pulaski St	0.44mi	3/1.0	1,100 (+10%)	3mo	$115,000	$105	60
2000 Brunt St	0.67mi	3/1.0	1,002 (+0%)	11mo	$104,500	$104	60
1552 N Fulton Ave	0.40mi	3/1.0	1,113 (+11%)	4mo	$125,000	$112	59
1635 N Warwick Ave N	0.60mi	3/1.5	1,064 (+6%)	5mo	$70,000	$66	55
2219 Eutaw Pl #3	0.71mi	2/2.0 (-1)	1,000 (0%)	7mo	$170,000	$170	52
1222 N Calhoun St	0.72mi	3/1.0	1,080 (+8%)	10mo	$105,000	$97	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 · 6.63% rent growth · sell at horizon

5-year hold

• IRR: 77.0%
• Equity multiple: 4.74×
• Total profit: $51,293
• Equity at exit: $7,306

10-year hold

• IRR: 81.7%
• Equity multiple: 11.25×
• Total profit: $140,612
• Equity at exit: $4,237

Cash invested: $13,720 (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 21217

• Rents YoY: 6.6%
• Active inventory: 333
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,635 high
• Mortgage (P&I): −$257
• Tax from tax record: −$127 /mo · $1,529/yr
• Insurance: −$20
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $831

Break-even live

Break-even rent $583

Max offer price $49,000

Occupancy floor 44%

Sensitivity live

Price	-10% $859	-5% $845	+0% $831	+5% $817	+10% $804
Rent	-10% $702	-5% $767	+0% $831	+5% $896	+10% $960
Rate	-1.0pp $856	-0.5pp $844	base $831	+0.5pp $819	+1.0pp $806

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: $12,250
• Closing costs: $1,470
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1930 N Payson St Baltimore, MD	2.0	2.0	980	$1,500	$1.53	25d	1	0.15mi
2636 Pennsylvania Ave Baltimore, MD	1.0–2.0	1.0	846	$956	$1.13	25d	4	0.17mi
2614 Pennsylvania Ave Baltimore, MD	1.0–3.0	1.0–2.0	982	$1,141	$1.16	6d	4	0.19mi
1806 N Mount St Baltimore, MD	3.0	3.0	1200	$1,700	$1.42	21d	1	0.25mi
1722 N Monroe St Baltimore, MD	3.0	1.5	1000	$1,350	$1.35	25d	1	0.25mi
2505 Woodbrook Ave Baltimore, MD	4.0	2.0	1256	$1,745	$1.39	3d	1	0.26mi
1729 N Fulton Ave Baltimore, MD	3.0	2.0	1081	$1,795	$1.66	45d	1	0.26mi
2231 Orem Ave Baltimore, MD	3.0	1.5	1140	$1,750	$1.54	19d	1	0.26mi
1624 Westwood Ave Baltimore, MD	3.0	2.0	1000	$1,900	$1.90	45d	1	0.27mi
2301 Whittier Ave Unit 3 Baltimore, MD	2.0	2.0	1104	$1,650	$1.49	45d	1	0.29mi
2301 Whittier Ave Unit 2 Baltimore, MD	2.0	2.0	1104	$1,400	$1.27	45d	1	0.29mi
2301 Whittier Ave Unit 1 Baltimore, MD	2.0	1.0	1104	$1,400	$1.27	45d	1	0.29mi
2204 Clifton Ave Baltimore, MD	3.0	1.0	1400	$1,450	$1.04	6d	1	0.29mi
1515 Retreat St Baltimore, MD	3.0	2.0	1098	$1,800	$1.64	25d	1	0.30mi
1507 Retreat St Unit 1 Baltimore, MD	3.0	3.0	1098	$2,500	$2.28	45d	1	0.32mi
2330 Bryant Ave Unit 4 Baltimore, MD	2.0	1.0	950	$1,500	$1.58	21d	1	0.39mi
1816 N Bentalou St Baltimore, MD	3.0	2.0	1350	$1,700	$1.26	12d	1	0.40mi
1816 N Bentalou St Baltimore, MD	3.0	2.0	1350	$1,700	$1.26	25d	1	0.40mi
2409 Francis St Baltimore, MD	3.0	1.0	1298	$1,500	$1.16	45d	1	0.41mi
3401 Woodbrook Ave Unit 1 Baltimore, MD	3.0	1.0	900	$1,199	$1.33	25d	1	0.42mi
2449 Druid Hill Ave Baltimore, MD	2.0	1.0	1100	$1,800	$1.64	45d	1	0.43mi
1614 N Calhoun St Baltimore, MD	2.0	1.0	950	$1,300	$1.37	45d	1	0.43mi
2433 Druid Hill Ave Baltimore, MD	2.0	2.5	1092	$1,999	$1.83	45d	1	0.44mi
1606 Gwynns Falls Pkwy Baltimore, MD	2.0	1.0	748	$1,200	$1.60	25d	1	0.44mi
519 Sanford Pl Baltimore, MD	3.0	1.0	1300	$1,650	$1.27	17d	1	0.45mi
1501 N Payson St Baltimore, MD	3.0	1.0	1400	$1,550	$1.11	45d	1	0.47mi
1562 N Woodyear St Baltimore, MD	2.0	1.5	788	$1,325	$1.68	25d	1	0.49mi
1534 N Stricker St Baltimore, MD	2.0	1.5	900	$1,475	$1.64	16d	1	0.50mi
1433 N Fulton Ave Baltimore, MD	2.0	1.0	1200	$1,500	$1.25	45d	1	0.50mi
2511 Madison Ave #2 Baltimore, MD	3.0	1.0	1100	$1,650	$1.50	45d	1	0.51mi
1121 Whitelock St Baltimore, MD	2.0	1.0	1180	$1,300	$1.10	45d	1	0.51mi
1617-A Moreland Ave Unit 2nd Flr Baltimore, MD	2.0	1.0	1500	$1,400	$0.93	45d	1	0.52mi
1617 Moreland Ave Baltimore, MD	2.0	1.0	900	$1,450	$1.61	25d	1	0.54mi
2143 Druid Hill Ave Unit 2 Baltimore, MD	2.0	1.0	915	$1,400	$1.53	45d	1	0.62mi
2339 Eutaw Pl Ste 1 Baltimore, MD	2.0	1.0	1300	$1,275	$0.98	45d	1	0.65mi
1346 N Carey St Baltimore, MD	2.0	1.5	1100	$1,500	$1.36	45d	1	0.69mi
901 Druid Park Lake Dr Baltimore, MD	1.0–2.0	1.0	681	$1,250	$1.84	45d	1	0.70mi
2028 Druid Hill Ave Baltimore, MD	3.0	2.5	1437	$1,799	$1.25	12d	1	0.70mi
2028 Druid Hill Ave Unit 1 Baltimore, MD	3.0	2.5	1437	$1,750	$1.22	4d	1	0.70mi
2636 W North Ave Baltimore, MD	2.0–3.0	1.0–2.0	975	$1,475	$1.51	6d	1	0.70mi

Listing history 25 events

1. 2026-06-08
   status $49,000 Pending 104 DOM
2. 2026-06-07
   days on market $49,000 Active 104 DOM
3. 2026-06-04
   days on market $49,000 Active 101 DOM
4. 2026-06-03
   days on market $49,000 Active 100 DOM
5. 2026-06-02
   days on market $49,000 Active 99 DOM
6. 2026-06-01
   days on market $49,000 Active 98 DOM
7. 2026-05-31
   days on market $49,000 Active 97 DOM
8. 2026-02-23
   listed $49,000 Active 231-char remark

   Show marketing remark (231 chars)

   3 level town home with wood floors main level & fenced back area; 1 mile to Druid Hill Park, The Baltimore Zoo, Mondawmin Station & Mall; Close to bus stops, major routes & shopping. Seller financing is available.

9. 2025-11-30
   historical
10. 2025-10-02
    price $55,000
11. 2025-05-29
    listed $65,000 Active
12. 2024-09-26
    historical
13. 2024-09-19
    listed $10,000 Active
14. 2021-11-12
    soldstatus $60,000 Closed
15. 2021-10-07
    status Pending
16. 2021-10-06
    status Active
17. 2021-09-29
    status Pending
18. 2021-08-12
    status Active
19. 2021-07-31
    historical
20. 2021-02-01
    status Active
21. 2021-01-31
    historical
22. 2020-04-10
    listed $59,900 Active
23. 2008-07-09
    historical
24. 2008-06-13
    price
25. 2008-04-08
    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: $1,529 · $127/mo
• Projected year-2 tax: $1,529 · $127/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 8/10 Severe FEMA zone X (unshaded) · 99% 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: $19,620
• − Mortgage interest: −$2,745
• − Property taxes: −$1,529
• − Insurance: −$912
• − Repairs & maintenance: −$1,570
• − Management: −$1,570
• − Depreciation: −$1,425
• Taxable income: $9,870
• Est. tax owed @ 24.0%: −$2,369
• After-tax cash flow: $7,607/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): 30,792
• Household income: $38,409
• Rent vs Own: 70.0% rent · 30.0% own
• Severe rent burden: 2921.0

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 (81%)
• Race & ethnicity: Black 81% White 12% Two or more races 4% Hispanic / Latino 2% Asian 2%
• Common ancestry: Romanian 1% Hispanic 1% Italian 1%
• Foreign-born: 5% · Canada, China, South Korea
• Languages at home: 94% English-only · Spanish 2% French/Haitian/Cajun 1% Chinese 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: ▼ -187.20%
• Current HPI: 104.2102
• Rent YoY: ▲ 6.63%
• 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

-18.2% since first listed

18 events — show timeline

• 2026-02-23 Listed $49,000 BRIGHT MLS
• 2025-11-30 Listing Removed — BRIGHT MLS
• 2025-10-02 Price Changed $55,000 BRIGHT MLS
• 2025-05-29 Listed $65,000 BRIGHT MLS
• 2024-09-26 Listing Removed — BRIGHT MLS
• 2024-09-19 Listed $10,000 BRIGHT MLS
• 2021-11-12 Sold (MLS) $60,000 BRIGHT MLS
• 2021-10-07 Pending — BRIGHT MLS
• 2021-10-06 Relisted — BRIGHT MLS
• 2021-09-29 Pending — BRIGHT MLS
• 2021-08-12 Relisted — BRIGHT MLS
• 2021-07-31 Listing Removed — BRIGHT MLS
• 2021-02-01 Relisted — BRIGHT MLS
• 2021-01-31 Listing Removed — BRIGHT MLS
• 2020-04-10 Listed $59,900 BRIGHT MLS
• 2008-07-09 Delisted — MRIS
• 2008-06-13 Price Changed — MRIS
• 2008-04-08 Listed — MRIS

Property tax history

+7.7%/yr

Latest (2025): $1,529 · +16.1% YoY. Source: county tax records.