2435 Lauretta Ave · Baltimore, MD 21223

$55,000

3 bd · 1.0 ba · 1,260 sqft · Townhouse public records · 18 Days on market

Built 1924 1,664 sqft lot $44/sqft · 20% below area Est $68k · 20% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

This 3BDRM/1BA home is an investor's dream or for buyer not afraid of a little work. Please don't miss out on this golden opportunity. This home can be easily transformed into a beautiful home. The kitchen has already been updated. Elbow grease, some work and a clean out is required to turn this home into something special. Lots of renovations going on in the area. Located near commuter routes, shops, and more. Seller says sell today!!

Key facts

• Kitchen updated
• Near commuter routes
• Near shops

Tags

• KITCHEN UPDATED
• NEAR COMMUTER ROUTES
• NEAR SHOPS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $55k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $55k).
• Recommended offer: $54k (1.5% below list) — sets the bar for market timing.
• Cap rate 28.5% 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); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• At $1,783/mo this rent would consume 47% of the median local household income ($46k/yr) (locally 1755% 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 $380 of loan paydown is wiped out by about $2k 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 $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($54k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1924 — 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 $54,175 (1.5% below list)

Questions for the listing agent

1. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 3.24% ✓
• Cap rate: 28.51%
• Cash-on-cash: 79.33%
• DSCR: 4.53
• GRM: 2.6

CMA / ARV

• ARV (median comp): $68,335
• List price: $55,000
• Delta: -19.51%
• 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
2435 Lauretta Ave	0.00mi	3/1.0	1,260 (0%)	1mo	$45,000	$36	99
2516 W Fairmount Ave	0.38mi	3/1.0	1,304 (+4%)	2mo	$30,000	$23	75
1906 W Saratoga St	0.44mi	3/1.5	1,273 (+1%)	2mo	$155,000	$122	74
2216 W Fayette St	0.36mi	3/1.5	1,326 (+5%)	1mo	$77,000	$58	71
2416 W Franklin St	0.03mi	3/2.0	1,435 (+14%)	2mo	$67,000	$47	70
633 N Brice St	0.36mi	4/2.5 (+1)	1,250 (-1%)	2mo	$78,000	$62	69
2711 Riggs Ave	0.55mi	3/1.0	1,288 (+2%)	2mo	$134,000	$104	69
2141 Vine St	0.38mi	2/1.0 (-1)	1,200 (-5%)	3mo	$20,000	$17	67
2544 W Fairmount Ave	0.39mi	2/1.5 (-1)	1,204 (-4%)	2mo	$55,000	$46	65
2576 W Baltimore St W	0.45mi	3/2.0	1,200 (-5%)	2mo	$152,000	$127	65
537 Longwood St	0.52mi	4/2.0 (+1)	1,176 (-7%)	0mo	$60,000	$51	55
1906 W Fairmount Ave	0.55mi	2/3.5 (-1)	1,200 (-5%)	3mo	$134,900	$112	49

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: 84.6%
• Equity multiple: 5.18×
• Total profit: $64,420
• Equity at exit: $8,201

10-year hold

• IRR: 88.9%
• Equity multiple: 12.55×
• Total profit: $177,822
• Equity at exit: $4,755

Cash invested: $15,400 (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: 2.6×

Monthly cashflow live

• Estimated rent: $1,783 high
• Mortgage (P&I): −$288
• Tax from tax record: −$79 /mo · $948/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $1,018

Break-even live

Break-even rent $494

Max offer price $55,000

Occupancy floor 38%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2609 Lauretta Ave Baltimore, MD	3.0	1.0	1286	$1,675	$1.30	24d	1	0.20mi
2636 Lauretta Ave Baltimore, MD	3.0	2.5	1232	$1,900	$1.54	44d	1	0.23mi
2303 Calverton Heights Ave Baltimore, MD	4.0	2.0	1314	$2,250	$1.71	24d	1	0.27mi
62 N Gorman Ave Baltimore, MD	3.0	2.0	1100	$2,500	$2.27	18d	1	0.36mi
918 N Bentalou St Baltimore, MD	3.0	1.5	1485	$1,750	$1.18	44d	1	0.37mi
2012 W Saratoga St Baltimore, MD	3.0	1.0	1300	$1,700	$1.31	24d	1	0.38mi
2815 W Mulberry St Baltimore, MD	4.0	2.0	1040	$2,050	$1.97	44d	1	0.38mi
39 N Bentalou St Baltimore, MD	3.0	2.5	1844	$1,700	$0.92	3d	1	0.39mi
2232 W Baltimore St Baltimore, MD	3.0	1.0	1250	$1,875	$1.50	24d	1	0.45mi
2301 Riggs Ave Baltimore, MD	3.0	2.0	1072	$1,600	$1.49	24d	1	0.46mi
2225 W Baltimore St Baltimore, MD	3.0	2.5	1200	$1,600	$1.33	24d	1	0.47mi
2516 Hollins St Baltimore, MD	3.0	2.0	1100	$1,700	$1.55	44d	1	0.49mi
1846 W Saratoga St Unit 1 Baltimore, MD	2.0	1.0	1250	$1,300	$1.04	44d	1	0.51mi
2922 Edmondson Ave Baltimore, MD	3.0	2.0	1620	$1,900	$1.17	44d	1	0.52mi
2537 Hollins St Baltimore, MD	3.0	2.0	1200	$1,450	$1.21	24d	1	0.52mi
2744 W Mosher St Baltimore, MD	4.0	2.0	1412	$2,100	$1.49	24d	1	0.53mi
1814 Penrose Ave Baltimore, MD	3.0	1.0	1624	$1,700	$1.05	18d	1	0.55mi
1914 Mosher St Unit 1914 Baltimore, MD	4.0	2.5	1200	$1,700	$1.42	44d	1	0.59mi
1918 W Baltimore St Baltimore, MD	2.0–3.0	1.0–2.0	857	$1,434	$1.67	44d	1	0.60mi
1839 W Fayette St Baltimore, MD	3.0	1.5	1426	$1,675	$1.17	24d	1	0.60mi
1912 W Baltimore St Unit 2 Baltimore, MD	2.0	1.5	1200	$2,100	$1.75	24d	1	0.60mi
110 S Catherine St Unit 1 Baltimore, MD	2.0	1.0	1330	$1,500	$1.13	44d	1	0.61mi
2806 Riggs Ave Baltimore, MD	3.0	2.5	1412	$1,900	$1.35	3d	1	0.61mi
3015 Rayner Ave Baltimore, MD	3.0	1.0	1152	$1,350	$1.17	44d	1	0.63mi
813 N Fulton Ave Unit 1 Baltimore, MD	2.0	1.0	1200	$1,350	$1.12	44d	1	0.63mi
2728 Winchester St Baltimore, MD	3.0	1.5	1260	$1,800	$1.43	3d	1	0.64mi
1625 Edmondson Ave Unit 1 Baltimore, MD	4.0	3.0	1500	$2,175	$1.45	4d	1	0.67mi
1625 Edmondson Ave Unit 2 Baltimore, MD	4.0	3.0	1500	$1,895	$1.26	12d	1	0.67mi
307 S Smallwood St Baltimore, MD	2.0	2.5	1400	$1,350	$0.96	44d	1	0.75mi
2540 Frederick Ave Baltimore, MD	3.0	1.0	1075	$1,400	$1.30	24d	1	0.76mi
1509 Edmondson Ave #1 Baltimore, MD	3.0	2.0	1600	$2,275	$1.42	24d	1	0.77mi
1519 Penrose Ave Baltimore, MD	3.0	2.0	1200	$1,875	$1.56	44d	1	0.79mi
1635 Frederick Ave Baltimore, MD	3.0	2.0	1224	$1,850	$1.51	44d	1	0.79mi
1518 1/2 W Lexington St Baltimore, MD	2.0	2.0	1650	$1,200	$0.73	4d	1	0.79mi
1613 Riggs Ave Baltimore, MD	3.0	2.5	1800	$1,800	$1.00	24d	1	0.81mi
1601 Frederick Ave Unit 3 Baltimore, MD	2.0	1.0	1050	$1,050	$1.00	4d	1	0.83mi
1042 Ellicott Dr Baltimore, MD	2.0	1.0	900	$1,450	$1.61	44d	1	0.83mi
834 N Stricker St Baltimore, MD	4.0	1.0	1200	$1,500	$1.25	20d	1	0.83mi
1402 Poplar Grove St Baltimore, MD	4.0	1.5	1540	$800	$0.52	44d	1	0.85mi
1501 N Payson St Baltimore, MD	3.0	1.0	1400	$1,550	$1.11	44d	1	0.86mi

Listing history 2 events

1. 2026-05-04
   status Pending 439-char remark

   Show marketing remark (439 chars)

   This 3BDRM/1BA home is an investor's dream or for buyer not afraid of a little work. Please don't miss out on this golden opportunity. This home can be easily transformed into a beautiful home. The kitchen has already been updated. Elbow grease, some work and a clean out is required to turn this home into something special. Lots of renovations going on in the area. Located near commuter routes, shops, and more. Seller says sell today!!

2. 2026-04-16
   listed $55,000 Active 439-char remark

   Show marketing remark (439 chars)

   This 3BDRM/1BA home is an investor's dream or for buyer not afraid of a little work. Please don't miss out on this golden opportunity. This home can be easily transformed into a beautiful home. The kitchen has already been updated. Elbow grease, some work and a clean out is required to turn this home into something special. Lots of renovations going on in the area. Located near commuter routes, shops, and more. Seller says sell today!!

ⓘ 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: $948 · $79/mo
• Projected year-2 tax: $948 · $79/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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,393
• − Mortgage interest: −$3,081
• − Property taxes: −$948
• − Insurance: −$275
• − Repairs & maintenance: −$1,711
• − Management: −$1,711
• − Depreciation: −$1,600
• Taxable income: $12,067
• Est. tax owed @ 24.0%: −$2,896
• After-tax cash flow: $9,321/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

2 events — show timeline

• 2026-05-04 Pending — BRIGHT MLS
• 2026-04-16 Listed $55,000 BRIGHT MLS

Property tax history

-3.3%/yr

Latest (2025): $948 · +5.6% YoY. Source: county tax records.