2033 N Fulton · Baltimore, MD 21217

$169,500

4 bd · 3.5 ba · 1,748 sqft · Townhouse · 39 Days on market

Built 1920 1,307 sqft lot $97/sqft · 184% above area

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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 +26.8/30.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• 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

Welcome to 2033 N Fulton Ave, No HOA good location close to important Universities as John Hopkins , Copping University , public transportation ETC with Rent getting higher and Higher , you can own this fully renovated town house for less than 180k 3 bedrooms top level with 2 full baths, Master bedroom with his own bath half bath in the main level, fully finish baseman with 1 bedroom and full bathroom . bring your buyer and take a look any question contact LA

Key facts

• Fully renovated
• Built 1920
• Listed 38 days

Tags

• FULLY RENOVATED
• PUBLIC TRANSPORTATION

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; Natural gas hot water; Natural gas heating fuel; Electric for cooling
• Home design: Interior townhouse/rowhouse; Fee simple ownership
• Construction: Brick and concrete construction; Concrete perimeter foundation; Above-grade structure
• Exterior features: Not in a federal flood zone; No tidal water on the lot; Pets allowed with no pet restrictions; Directions: See GPS

Interior

• Bedrooms: Four bedrooms on the main level
• Bathrooms: Three full bathrooms and one half bathroom (all on the main level)
• Heating & cooling: Heat pump(s) heating; Central air conditioning
• Interior features: Estimated living area; Fully finished basement with connecting stairway, rear entrance, and heating

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath townhouse listed at $170k.

Deal economics

• At list price, monthly cash flow is $399 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $164k (3.0% 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: 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); 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 $1k of loan paydown is wiped out by about $5k 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 $47k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts; this cycle's ask has dropped $20k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $80k; list at $170k implies a 112% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/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 $164,415 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.13% ✓
• Cap rate: 9.59%
• Cash-on-cash: 11.77%
• DSCR: 1.52
• GRM: 7.4

CMA / ARV

• ARV (median comp): $59,690
• List price: $169,500
• Delta: 183.97%
• 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
608 Cumberland St	0.28mi	3/2.0 (-1)	1,700 (-3%)	2mo	$90,000	$53	69
2117 N Smallwood St	0.34mi	3/2.5 (-1)	1,680 (-4%)	1mo	$192,000	$114	68
1626 N Smallwood St	0.48mi	5/3.0 (+1)	1,770 (+1%)	2mo	$238,000	$134	67
1920 N Bentalou St	0.44mi	4/3.5	1,928 (+10%)	1mo	$255,000	$132	61
2009 Ruxton Ave	0.46mi	4/2.0	1,600 (-8%)	1mo	$234,000	$146	58
2500 Brookfield Ave	0.69mi	3/3.0 (-1)	1,786 (+2%)	1mo	$365,000	$204	56
2105 Whittier Ave	0.31mi	3/1.5 (-1)	1,587 (-9%)	1mo	$80,000	$50	56
1520 Appleton St	0.43mi	3/3.5 (-1)	1,920 (+10%)	4mo	$215,000	$112	55
2402 Liberty Heights Ave	0.65mi	4/1.5	1,800 (+3%)	4mo	$90,000	$50	54
2521 Reisterstown Rd	0.48mi	3/2.0 (-1)	1,578 (-10%)	3mo	$215,000	$136	48
1501 N Payson St N	0.47mi	4/2.0	2,000 (+14%)	4mo	$162,000	$81	44
1601 Ruxton Ave	0.58mi	3/1.0 (-1)	1,568 (-10%)	1mo	$90,000	$57	40

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: 2.7%
• Equity multiple: 1.11×
• Total profit: $5,161
• Equity at exit: $25,273

10-year hold

• IRR: 15.4%
• Equity multiple: 2.46×
• Total profit: $69,117
• Equity at exit: $14,655

Cash invested: $47,460 (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: 7.4×

Monthly cashflow live

• Estimated rent: $1,908 high
• Mortgage (P&I): −$889
• Tax from tax record: −$82 /mo · $986/yr
• Insurance: −$71
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$401
• Net cashflow: $399

Break-even live

Break-even rent $1,403

Max offer price $169,500

Occupancy floor 74%

Sensitivity live

Price	-10% $495	-5% $447	+0% $399	+5% $351	+10% $303
Rent	-10% $248	-5% $324	+0% $399	+5% $474	+10% $550
Rate	-1.0pp $484	-0.5pp $442	base $399	+0.5pp $355	+1.0pp $310

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: $42,375
• Closing costs: $5,085
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2614 Pennsylvania Ave Baltimore, MD	1.0–3.0	1.0–2.0	982	$1,141	$1.16	6d	4	0.09mi
2505 Woodbrook Ave Baltimore, MD	4.0	2.0	1256	$1,745	$1.39	3d	1	0.15mi
1515 Retreat St Baltimore, MD	3.0	2.0	1098	$1,800	$1.64	25d	1	0.19mi
1806 N Mount St Baltimore, MD	3.0	3.0	1200	$1,700	$1.42	21d	1	0.20mi
1507 Retreat St Unit 1 Baltimore, MD	3.0	3.0	1098	$2,500	$2.28	45d	1	0.21mi
1729 N Fulton Ave Baltimore, MD	3.0	2.0	1081	$1,795	$1.66	45d	1	0.23mi
2231 Orem Ave Baltimore, MD	3.0	1.5	1140	$1,750	$1.54	19d	1	0.27mi
2201 Whittier Ave Baltimore, MD	4.0	2.0	1750	$1,700	$0.97	45d	1	0.29mi
2201 Whittier Ave Baltimore, MD	4.0	2.0	1750	$1,700	$0.97	19d	1	0.29mi
2409 Francis St Baltimore, MD	3.0	1.0	1298	$1,500	$1.16	45d	1	0.30mi
2128 N Pulaski St Baltimore, MD	4.0	3.0	2166	$2,200	$1.02	45d	1	0.31mi
2216 Whittier Ave Baltimore, MD	5.0	1.5	1392	$1,975	$1.42	25d	1	0.32mi
1616 N Fulton Ave Baltimore, MD	3.0	2.0	1620	$1,695	$1.05	0d	1	0.34mi
519 Sanford Pl Baltimore, MD	3.0	1.0	1300	$1,650	$1.27	18d	1	0.36mi
2204 Clifton Ave Baltimore, MD	3.0	1.0	1400	$1,450	$1.04	6d	1	0.40mi
2511 Madison Ave #2 Baltimore, MD	3.0	1.0	1100	$1,650	$1.50	45d	1	0.41mi
1516 N Mount St Baltimore, MD	3.0	1.5	1830	$1,750	$0.96	16d	1	0.42mi
1205 Clendenin St Baltimore, MD	3.0	1.5	1560	$800	$0.51	25d	1	0.43mi
1816 N Bentalou St Baltimore, MD	3.0	2.0	1350	$1,700	$1.26	25d	1	0.49mi
1816 N Bentalou St Baltimore, MD	3.0	2.0	1350	$1,700	$1.26	12d	1	0.49mi
1501 N Payson St Baltimore, MD	3.0	1.0	1400	$1,550	$1.11	45d	1	0.50mi
1315 Presstman St Baltimore, MD	4.0	2.0	1700	$2,000	$1.18	45d	1	0.56mi
2401 W North Ave Baltimore, MD	5.0	2.0	2037	$1,800	$0.88	6d	1	0.57mi
2405 W North Ave Baltimore, MD	4.0	3.0	1826	$1,900	$1.04	6d	1	0.58mi
2028 Druid Hill Ave Baltimore, MD	3.0	2.5	1437	$1,799	$1.25	12d	1	0.60mi
2028 Druid Hill Ave Unit 1 Baltimore, MD	3.0	2.5	1437	$1,750	$1.22	4d	1	0.60mi
2401 Brookfield Ave Baltimore, MD	2.0–3.0	1.0–2.0	1102	$1,675	$1.52	25d	3	0.68mi
1613 Riggs Ave Baltimore, MD	3.0	2.5	1800	$1,800	$1.00	25d	1	0.78mi
2636 W North Ave Baltimore, MD	2.0–3.0	1.0–2.0	975	$1,475	$1.51	6d	1	0.80mi
3104 Tioga Pkwy Baltimore, MD	3.0	2.0	1640	$2,050	$1.25	23d	1	0.81mi
2910 Reisterstown Rd Baltimore, MD	1.0–3.0	1.0	950	$1,414	$1.49	16d	4	0.82mi
815 Lennox St Baltimore, MD	3.0	3.5	1600	$2,790	$1.74	25d	1	0.83mi
1725 Druid Hill Ave Baltimore, MD	4.0	3.0	2195	$2,100	$0.96	25d	1	0.83mi
1914 Mosher St Unit 1914 Baltimore, MD	4.0	2.5	1200	$1,700	$1.42	45d	1	0.84mi
2305 Wichita Ave Unit 1 Baltimore, MD	3.0	1.0	1950	$1,250	$0.64	0d	1	0.89mi
1628 McCulloh St Unit 2 Baltimore, MD	4.0	2.5	2000	$2,000	$1.00	6d	1	0.89mi
736 Watts St Baltimore, MD	3.0	3.5	2000	$3,250	$1.62	45d	1	0.90mi
2301 Riggs Ave Baltimore, MD	3.0	2.0	1072	$1,600	$1.49	25d	1	0.90mi
734 Watts St Baltimore, MD	3.0	3.5	1720	$2,900	$1.69	45d	1	0.90mi
834 N Stricker St Baltimore, MD	4.0	1.0	1200	$1,500	$1.25	22d	1	0.94mi

Listing history 26 events

1. 2026-06-21
   days on market $169,500 Active 39 DOM
2. 2026-06-18
   days on market $169,500 Active 36 DOM
3. 2026-06-17
   days on market $169,500 Active 35 DOM
4. 2026-06-16
   days on market $169,500 Active 34 DOM
5. 2026-06-15
   pricedays on market $169,500 Active 33 DOM
6. 2026-05-31
   days on market $170,500 Active 31 DOM
7. 2026-05-18
   price $179,500 470-char remark
8. 2026-04-30
   listed $189,900 Active 470-char remark
9. 2026-04-26
   historical
10. 2026-04-17
    price $195,900
11. 2026-04-01
    price $199,900
12. 2026-03-12
    listed $212,000 Active
13. 2025-12-15
    historical
14. 2025-12-02
    price $220,000
15. 2025-10-11
    listed $229,900 Active
16. 2025-10-06
    historical
17. 2025-09-19
    price $240,000
18. 2025-09-03
    price $249,900
19. 2025-08-26
    listed $259,500 Active
20. 2025-06-04
    soldstatus $80,000
21. 2025-04-24
    soldstatus $80,000 Closed
22. 2025-04-06
    status Pending
23. 2025-04-04
    status Active
24. 2025-04-01
    historical Active Under Contract
25. 2025-03-21
    listed $79,000 Active
26. 1987-02-10
    soldstatus $20,000

ⓘ 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: $986 · $82/mo
• Projected year-2 tax: $1,417 · $118/mo
• Expected delta: +$431/yr (+$36/mo · 43.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme 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: $22,894
• − Mortgage interest: −$9,495
• − Property taxes: −$986
• − Insurance: −$1,645
• − Repairs & maintenance: −$1,832
• − Management: −$1,832
• − Depreciation: −$4,931
• Taxable income: $2,174
• Est. tax owed @ 24.0%: −$522
• After-tax cash flow: $4,267/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

+747.5% since first listed

24 events — show timeline

• 2026-06-15 Price Changed $169,500 BRIGHT MLS
• 2026-06-15 Relisted — BRIGHT MLS
• 2026-06-01 Listing Removed — BRIGHT MLS
• 2026-05-29 Price Changed $170,500 BRIGHT MLS
• 2026-05-18 Price Changed $179,500 BRIGHT MLS
• 2026-04-30 Listed $189,900 BRIGHT MLS
• 2026-04-26 Listing Removed — BRIGHT MLS
• 2026-04-17 Price Changed $195,900 BRIGHT MLS
• 2026-04-01 Price Changed $199,900 BRIGHT MLS
• 2026-03-12 Listed $212,000 BRIGHT MLS
• 2025-12-15 Listing Removed — BRIGHT MLS
• 2025-12-02 Price Changed $220,000 BRIGHT MLS
• 2025-10-11 Listed $229,900 BRIGHT MLS
• 2025-10-06 Listing Removed — BRIGHT MLS
• 2025-09-19 Price Changed $240,000 BRIGHT MLS
• 2025-09-03 Price Changed $249,900 BRIGHT MLS
• 2025-08-26 Listed $259,500 BRIGHT MLS
• 2025-06-04 Sold (Public Records) $80,000 Public Records
• 2025-04-24 Sold (MLS) $80,000 BRIGHT MLS
• 2025-04-06 Pending — BRIGHT MLS
• 2025-04-04 Relisted — BRIGHT MLS
• 2025-04-01 Contingent — BRIGHT MLS
• 2025-03-21 Listed $79,000 BRIGHT MLS
• 1987-02-10 Sold (Public Records) $20,000 Public Records

Property tax history

+5.2%/yr

Latest (2025): $986 · +3.3% YoY. Source: county tax records.