206 W Lorraine Ave · Baltimore, MD 21211

$197,500

3 bd · 1.0 ba · 1,120 sqft · Townhouse public records · 99 Days on market

Built 1914 1,742 sqft lot $176/sqft · 29% below area Est $279k · 29% under

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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 +26.2/30.0
• ARV discount +15.0/15.0
• DSCR +8.9/10.0
• 1% rule +6.0/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

It’s hip, it’s cool, and most of all, it’s crunchy! But what it isn’t? it isn't expensive. You don’t have to pay those ridiculous prices like that neighborhood just to the north, but you’re still walking distance from all the cool restaurants, bars, shops and points of interest over there, that you all know and love. And guess where you’re really close to? MICA! That’s right, all of you "Too Cool for Art School" types can make your statement right here in this super convenient and ultra affordable neighborhood. Remington, cooler by a half mile. There’s Old Goucher, Station North, Charles Village, Hampden, Medfield and even Roland Park, where those other kids go to school. Speaking of schools, I don’t think anyone around here needs to be schooled on how cool this whole neighborhood but this are indeed is happenin' and HOT ! And this place just sits off of Howard Street, across from the old barbershop. You can catch a bus or hop a scooter and be anywhere you wanna be. Inside this deep, three level home that has been modernized to a point that’s nearly move-in ready. There’s plenty of room upstairs, a modern, open, main floor, and in the basement, you have plenty of storage for your easel, Granola making machine, patchouli oils, and your graffiti spray bombs. This place is hooked up for affordable, easy urban living. Buyer to determine if ground rent exists, seller will not redeem.

Key facts

• Three level home
• Plenty of storage
• Built 1914

Tags

• THREE LEVEL HOME
• MODERN OPEN MAIN FLOOR
• PLENTY OF STORAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $198k.

Deal economics

• At list price, monthly cash flow is $506 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $198k).
• Recommended offer: $180k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.4% 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 (+4.3%/yr); 91 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• This rent runs 32% of the median local income ($83k/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 $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.
• At projected returns (-3.0% appreciation + 4.3% rent growth), your $55k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($180k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $28k; list at $198k implies a 605% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1914 — 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 $179,725 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 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 1914 — 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: 1.10% ✓
• Cap rate: 9.37%
• Cash-on-cash: 10.99%
• DSCR: 1.49
• GRM: 7.5

CMA / ARV

• ARV (median comp): $278,684
• List price: $197,500
• Delta: -29.13%
• 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
2602 Miles Ave	0.15mi	3/2.0	1,084 (-3%)	1mo	$240,000	$221	83
2713 Hampden Ave	0.17mi	2/2.5 (-1)	1,138 (+2%)	1mo	$320,000	$281	78
459 W 24th St	0.34mi	3/1.5	1,144 (+2%)	1mo	$224,500	$196	78
2821 Remington Ave	0.14mi	2/2.0 (-1)	1,170 (+4%)	1mo	$265,000	$226	76
2956 Greenmount Ave	0.65mi	3/2.0	1,130 (+1%)	1mo	$209,395	$185	64
2736 Fox St	0.10mi	2/1.5 (-1)	960 (-14%)	2mo	$240,000	$250	63
406 W 23rd St	0.36mi	2/1.0 (-1)	1,008 (-10%)	1mo	$247,000	$245	61
3100 Chestnut Ave	0.61mi	2/1.5 (-1)	1,136 (+1%)	4mo	$239,500	$211	59
312 E 28th St E	0.45mi	3/1.5	1,244 (+11%)	2mo	$175,000	$141	56
616 E 30th St	0.74mi	2/1.0 (-1)	1,092 (-2%)	1mo	$65,000	$60	55
3405 Greenway #302	0.70mi	2/1.5 (-1)	1,221 (+9%)	1mo	$265,000	$217	45
434 E 28th St	0.56mi	3/3.5	1,244 (+11%)	3mo	$270,000	$217	42

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 · 4.32% rent growth · sell at horizon

5-year hold

• IRR: 1.5%
• Equity multiple: 1.06×
• Total profit: $3,124
• Equity at exit: $29,448

10-year hold

• IRR: 12.2%
• Equity multiple: 2.02×
• Total profit: $56,386
• Equity at exit: $17,076

Cash invested: $55,300 (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 21211

• Rents YoY: 4.3%
• Active inventory: 91
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,182 high
• Mortgage (P&I): −$1,036
• Tax from tax record: −$99 /mo · $1,188/yr
• Insurance: −$82
• HOA: −$0
• Vacancy / Maint / Mgmt: −$458
• Net cashflow: $506

Break-even live

Break-even rent $1,541

Max offer price $197,500

Occupancy floor 72%

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: $49,375
• Closing costs: $5,925
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2641 N Howard St Baltimore, MD	4.0	3.5	1344	$2,800	$2.08	23d	1	0.02mi
325 W Lorraine Ave Baltimore, MD	3.0	1.0	1470	$3,150	$2.14	4d	1	0.07mi
2752 Maryland Ave Unit 2ND FLOOR Baltimore, MD	2.0	1.0	900	$1,500	$1.67	17d	1	0.13mi
2637 Saint Paul St Unit 1A Baltimore, MD	2.0	1.0	850	$1,450	$1.71	4d	1	0.26mi
315 W 30th St Baltimore, MD	3.0	3.0	1250	$2,450	$1.96	16d	1	0.26mi
315 W 30th St Baltimore, MD	3.0	3.0	1200	$2,450	$2.04	17d	1	0.26mi
2440 Saint Paul St Unit 4E Baltimore, MD	2.0	2.0	891	$1,625	$1.82	43d	1	0.29mi
305 W 31st St Baltimore, MD	4.0	2.0	1500	$2,499	$1.67	43d	1	0.33mi
2315 St Paul St Baltimore, MD	1.0–2.0	1.0	579	$1,595	$2.75	1d	5	0.38mi
2300 N Calvert St Baltimore, MD	1.0–2.0	1.0–2.0	1100	$1,995	$1.81	2d	2	0.43mi
2516 Barclay St Baltimore, MD	3.0	1.0	992	$1,375	$1.39	16d	1	0.47mi
400 E Lorraine Ave Baltimore, MD	3.0	1.0	1500	$1,800	$1.20	20d	1	0.48mi
411 E Lorraine Ave Baltimore, MD	3.0	1.5	1344	$2,200	$1.64	23d	1	0.50mi
402 E 28th St Baltimore, MD	3.0	1.0	1436	$2,200	$1.53	43d	1	0.51mi
428 E Lorraine Ave Unit 1 Baltimore, MD	3.0	1.5	1344	$1,875	$1.40	43d	1	0.52mi
428 E Lorraine Ave Baltimore, MD	3.0	2.0	1344	$1,875	$1.40	23d	1	0.52mi
450 E Lorraine Ave Baltimore, MD	3.0	1.0	1344	$1,695	$1.26	43d	1	0.55mi
436 Ilchester Ave Unit 1 Baltimore, MD	2.0	2.0	1002	$1,350	$1.35	43d	1	0.57mi
3126 Guilford Ave Apt A Baltimore, MD	2.0	1.0	700	$1,770	$2.53	3d	1	0.57mi
3201 Saint Paul St Baltimore, MD	1.0–2.0	1.5–2.0	1532	$3,200	$2.09	2d	1	0.58mi
3130 Guilford Ave Apt B Baltimore, MD	2.0	1.0	700	$1,790	$2.56	17d	1	0.58mi
2535 Greenmount Ave Unit 2 Baltimore, MD	2.0	1.0	800	$1,195	$1.49	43d	1	0.58mi
620 W 33rd St Baltimore, MD	2.0	2.0	1200	$2,495	$2.08	20d	1	0.63mi
304 W North Ave Baltimore, MD	1.0–2.0	1.0	804	$890	$1.11	23d	5	0.64mi
3221 Guilford Ave Apt A Baltimore, MD	3.0	1.5	1025	$2,925	$2.85	17d	1	0.65mi
519 E 28th St Baltimore, MD	3.0	2.0	1500	$2,000	$1.33	4d	1	0.66mi
612 Harding Pl Baltimore, MD	2.0	1.0	800	$2,200	$2.75	4d	1	0.68mi
2444 Callow Ave Unit B Baltimore, MD	2.0	1.0	980	$1,362	$1.39	4d	1	0.69mi
2438 Callow Ave Baltimore, MD	2.0	2.0	950	$1,462	$1.54	23d	1	0.70mi
2821 Mathews St Unit 27-668 Baltimore, MD	2.0	1.0	730	$1,050	$1.44	23d	1	0.70mi
3501 Saint Paul St Baltimore, MD	3.0	1.0–2.5	916	$2,700	$2.95	1d	172	0.72mi
646 Cokesbury Ave Baltimore, MD	2.0	1.5	1200	$1,299	$1.08	43d	1	0.73mi
750 Reservoir St Unit B Baltimore, MD	2.0	2.0	900	$1,850	$2.06	43d	1	0.74mi
750 Reservoir St Unit A Baltimore, MD	2.0	1.0	900	$1,650	$1.83	43d	1	0.74mi
3012 Mathews St Baltimore, MD	2.0	1.0	996	$1,100	$1.10	17d	1	0.76mi
3100 Fallscliff Rd Baltimore, MD	2.0	1.0–2.0	729	$2,660	$3.65	2d	10	0.77mi
2402 Lakeview Ave Apt 2 Baltimore, MD	2.0	1.0	900	$1,250	$1.39	12d	1	0.77mi
3026 Mathews St Baltimore, MD	2.0	1.0	996	$1,350	$1.36	14d	1	0.78mi
906 Whitelock St #2 Baltimore, MD	2.0	1.0	800	$1,250	$1.56	4d	1	0.78mi
1729 Park Ave Unit 4 Baltimore, MD	2.0	2.0	900	$1,725	$1.92	4d	1	0.79mi

Listing history 16 events

1. 2026-06-18
   days on market $197,500 Active 99 DOM
2. 2026-06-17
   days on market $197,500 Active 98 DOM
3. 2026-06-16
   days on market $197,500 Active 97 DOM
4. 2026-06-15
   days on market $197,500 Active 96 DOM
5. 2026-06-13
   days on market $197,500 Active 94 DOM
6. 2026-06-09
   days on market $197,500 Active 90 DOM
7. 2026-06-08
   days on market $197,500 Active 89 DOM
8. 2026-06-07
   days on market $197,500 Active 88 DOM
9. 2026-06-04
   days on market $197,500 Active 85 DOM
10. 2026-06-03
    days on market $197,500 Active 84 DOM
11. 2026-06-02
    pricedays on market $197,500 Active 83 DOM
12. 2026-06-01
    days on market $209,900 Active 82 DOM
13. 2026-05-31
    days on market $209,900 Active 81 DOM
14. 2026-05-08
    price $209,900 1484-char remark

    Show marketing remark (1484 chars)

    It’s hip, it’s cool, and most of all, it’s crunchy! But what it isn’t? it isn't expensive. You don’t have to pay those ridiculous prices like that neighborhood just to the north, but you’re still walking distance from all the cool restaurants, bars, shops and points of interest over there, that you all know and love. And guess where you’re really close to? MICA! That’s right, all of you "Too Cool for Art School" types can make your statement right here in this super convenient and ultra affordable neighborhood. Remington, cooler by a half mile. There’s Old Goucher, Station North, Charles Village, Hampden, Medfield and even Roland Park, where those other kids go to school. Speaking of schools, I don’t think anyone around here needs to be schooled on how cool this whole neighborhood but this are indeed is happenin' and HOT ! And this place just sits off of Howard Street, across from the old barbershop. You can catch a bus or hop a scooter and be anywhere you wanna be. Inside this deep, three level home that has been modernized to a point that’s nearly move-in ready. There’s plenty of room upstairs, a modern, open, main floor, and in the basement, you have plenty of storage for your easel, Granola making machine, patchouli oils, and your graffiti spray bombs. This place is hooked up for affordable, easy urban living. Buyer to determine if ground rent exists, seller will not redeem.

15. 2026-03-11
    listed $229,900 Active 1484-char remark

    Show marketing remark (1484 chars)

    It’s hip, it’s cool, and most of all, it’s crunchy! But what it isn’t? it isn't expensive. You don’t have to pay those ridiculous prices like that neighborhood just to the north, but you’re still walking distance from all the cool restaurants, bars, shops and points of interest over there, that you all know and love. And guess where you’re really close to? MICA! That’s right, all of you "Too Cool for Art School" types can make your statement right here in this super convenient and ultra affordable neighborhood. Remington, cooler by a half mile. There’s Old Goucher, Station North, Charles Village, Hampden, Medfield and even Roland Park, where those other kids go to school. Speaking of schools, I don’t think anyone around here needs to be schooled on how cool this whole neighborhood but this are indeed is happenin' and HOT ! And this place just sits off of Howard Street, across from the old barbershop. You can catch a bus or hop a scooter and be anywhere you wanna be. Inside this deep, three level home that has been modernized to a point that’s nearly move-in ready. There’s plenty of room upstairs, a modern, open, main floor, and in the basement, you have plenty of storage for your easel, Granola making machine, patchouli oils, and your graffiti spray bombs. This place is hooked up for affordable, easy urban living. Buyer to determine if ground rent exists, seller will not redeem.

16. 1985-12-11
    soldstatus $28,000

ⓘ 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: $1,188 · $99/mo
• Projected year-2 tax: $1,671 · $139/mo
• Expected delta: +$482/yr (+$40/mo · 40.6%)

ⓘ 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: $26,178
• − Mortgage interest: −$11,063
• − Property taxes: −$1,188
• − Insurance: −$988
• − Repairs & maintenance: −$2,094
• − Management: −$2,094
• − Depreciation: −$5,745
• Taxable income: $3,005
• Est. tax owed @ 24.0%: −$721
• After-tax cash flow: $5,355/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): 14,969
• Household income: $82,828
• Rent vs Own: 39.5% rent · 60.5% own
• Severe rent burden: 635.0

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 White (73%)
• Race & ethnicity: White 73% Black 10% Two or more races 7% Hispanic / Latino 7% Asian 5% Native American 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Romanian 5% Italian 2% Slovak 2%
• Foreign-born: 9% · Canada, China, Dominican Republic
• Languages at home: 87% English-only · Spanish 5% Other Indo-European 2% 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: ▼ -409.24%
• Current HPI: 458.2576
• Rent YoY: ▲ 4.32%
• 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

+649.6% since first listed

3 events — show timeline

• 2026-05-08 Price Changed $209,900 BRIGHT MLS
• 2026-03-11 Listed $229,900 BRIGHT MLS
• 1985-12-11 Sold (Public Records) $28,000 Public Records

Property tax history

-2.3%/yr

Latest (2025): $1,188 · +5.5% YoY. Source: county tax records.