1204 W Lafayette Ave #10 · Baltimore, MD 21217

$30,000

2 bd · 1.0 ba · 1,040 sqft · Condo public records · 76 Days on market

Built 1991 $150/mo HOA · 10% of rent ↓ 45% since listing

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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 +24.2/30.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• 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

ONLINE AUCTION: This auction takes place on the Ashland Auction Group Website Bidding Platform. Bidding begins 6/3/2026 @ 10:00 AM. Bidding ends 6/5/2026 @ 12:20 PM. List Price is Suggested Opening Bid. Deposit: $10,000. This single-story ground level condo unit is located in the Sandtown-Winchester neighborhood of Baltimore City. Residents can enjoy the nearby attractions and facilities such as the Lafayette Square Park and Harlem Square Park. The property is vacant. The area has easy access to the major traffic artery, N Fulton Ave, making commuting and city access seamless.

Key facts

• Single story flat
• $150 HOA
• Built 1991

Tags

• SINGLE STORY FLAT
• SANDTOWN-WINCHESTER AREA
• EASY ACCESS TO N FULTON AVE

🔨 Auction listing. The $30,000 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $129,597 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $30k.

Deal economics

• At list price, monthly cash flow is $259 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $30k).
• Recommended offer: $28k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.7% 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 (+6.6%/yr); 331 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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).
• At $1,547/mo this rent would consume 48% of the median local household income ($38k/yr) (locally 2921% 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 $896 of loan paydown is wiped out by about $4k 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 $36k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($28k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 24y ago; this cycle's ask has dropped $30k (50%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price.
• 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 $28,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.19% ✓
• Cap rate: 8.69%
• Cash-on-cash: 8.57%
• DSCR: 1.38
• GRM: 7.0

CMA / ARV

• ARV (median comp): $129,597
• List price: $30,000
• Delta: -76.85%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.63% rent growth · sell at horizon

5-year hold

• IRR: 1.0%
• Equity multiple: 1.04×
• Total profit: $1,423
• Equity at exit: $19,323

10-year hold

• IRR: 14.2%
• Equity multiple: 2.34×
• Total profit: $48,654
• Equity at exit: $11,205

Cash invested: $36,287 (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: 331
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $1,547 high
• Mortgage (P&I): −$680
• Tax from tax record: −$80 /mo · $957/yr
• Insurance: −$54
• HOA: −$150
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $259

Break-even live

Break-even rent $1,219

Max offer price $129,597

Occupancy floor 78%

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: $32,399
• Closing costs: $3,888
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1339 W Lafayette Ave #1 Baltimore, MD	2.0	2.0	700	$1,600	$2.29	13d	1	0.10mi
1315 Harlem Ave Unit C Baltimore, MD	2.0	1.0	900	$1,425	$1.58	44d	1	0.18mi
1315 Harlem Ave Unit B Baltimore, MD	2.0	1.0	900	$1,425	$1.58	24d	1	0.18mi
1049 Brantley Ave Unit 2 Baltimore, MD	3.0	1.0	1200	$1,350	$1.12	24d	1	0.24mi
1346 N Carey St Baltimore, MD	2.0	1.5	1100	$1,500	$1.36	44d	1	0.40mi
813 N Fulton Ave Unit 1 Baltimore, MD	2.0	1.0	1200	$1,350	$1.12	44d	1	0.41mi
1110 Shields Pl Unit 1129 Baltimore, MD	2.0	1.0	770	$1,100	$1.43	44d	1	0.42mi
1534 N Stricker St Baltimore, MD	2.0	1.5	900	$1,475	$1.64	15d	1	0.56mi
1519 Penrose Ave Baltimore, MD	3.0	2.0	1200	$1,875	$1.56	44d	1	0.57mi
1306 McCulloh St #1 Baltimore, MD	1.0	1.0	750	$1,200	$1.60	44d	1	0.58mi
1562 N Woodyear St Baltimore, MD	2.0	1.5	788	$1,325	$1.68	24d	1	0.58mi
1409 McCulloh St Unit McCulloh UA Baltimore, MD	2.0	1.5	1080	$1,550	$1.44	44d	1	0.59mi
1433 N Fulton Ave Baltimore, MD	2.0	1.0	1200	$1,500	$1.25	44d	1	0.59mi
1506 Madison Ave Unit 1 Baltimore, MD	1.0	1.0	1300	$1,400	$1.08	3d	1	0.61mi
1524 Madison Ave Unit 1 Baltimore, MD	2.0	2.0	800	$1,600	$2.00	24d	1	0.61mi
2028 Druid Hill Ave Unit 1 Baltimore, MD	3.0	2.5	1437	$1,750	$1.22	3d	1	0.62mi
2028 Druid Hill Ave Baltimore, MD	3.0	2.5	1437	$1,799	$1.25	11d	1	0.62mi
1614 N Calhoun St Baltimore, MD	2.0	1.0	950	$1,300	$1.37	44d	1	0.62mi
1920 McCulloh St Apt 2 Baltimore, MD	2.0	1.0	1000	$1,450	$1.45	44d	1	0.62mi
1909 McCulloh St Unit 2 Baltimore, MD	2.0	1.0	717	$1,300	$1.81	24d	1	0.64mi
101 N Schroeder St Baltimore, MD	3.0	1.0–2.0	1037	$2,481	$2.39	2d	12	0.65mi
1931 McCulloh St Unit 1 Baltimore, MD	3.0	1.0	1000	$1,500	$1.50	44d	1	0.65mi
1846 W Saratoga St Unit 1 Baltimore, MD	2.0	1.0	1250	$1,300	$1.04	44d	1	0.67mi
1410 Eutaw Pl Unit 6 Baltimore, MD	1.0	1.0	750	$1,500	$2.00	44d	1	0.68mi
28 N Norris St Baltimore, MD	1.0	2.0	700	$1,450	$2.07	44d	1	0.68mi
2037 McCulloh St Unit 3 Baltimore, MD	2.0	2.0	937	$1,650	$1.76	18d	1	0.69mi
1310 Eutaw Pl Unit 4 Baltimore, MD	1.0	1.0	1100	$1,500	$1.36	44d	1	0.69mi
2143 Druid Hill Ave Unit 2 Baltimore, MD	2.0	1.0	915	$1,400	$1.53	44d	1	0.70mi
519 Sanford Pl Baltimore, MD	3.0	1.0	1300	$1,650	$1.27	16d	1	0.72mi
10 S Carey St Baltimore, MD	2.0	1.0	1140	$1,550	$1.36	24d	1	0.75mi
1501 N Payson St Baltimore, MD	3.0	1.0	1400	$1,550	$1.11	44d	1	0.75mi
1829 Eutaw Pl Unit B Baltimore, MD	2.0	2.0	1278	$2,100	$1.64	4d	1	0.76mi
2012 W Saratoga St Baltimore, MD	3.0	1.0	1300	$1,700	$1.31	24d	1	0.77mi
1624 Westwood Ave Baltimore, MD	3.0	2.0	1000	$1,900	$1.90	44d	1	0.78mi
1123 N Eutaw St Baltimore, MD	2.0	2.0	1052	$1,582	$1.50	4d	4	0.79mi
1601 Frederick Ave Unit 3 Baltimore, MD	2.0	1.0	1050	$1,050	$1.00	4d	1	0.79mi
1729 N Fulton Ave Baltimore, MD	3.0	2.0	1081	$1,795	$1.66	44d	1	0.79mi
307 Dolphin St Baltimore, MD	1.0–3.0	1.0	732	$1,624	$2.22	18d	3	0.79mi
1000 Hollins St Unit 1000 Hollins Baltimore, MD	3.0	2.5	1472	$2,600	$1.77	44d	1	0.80mi
1806 N Mount St Baltimore, MD	3.0	3.0	1200	$1,700	$1.42	20d	1	0.80mi

HOA detail condo

• Monthly dues: $150 · $1,800/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 30 events

1. 2026-06-04
   days on market $30,000 Active 76 DOM
2. 2026-06-03
   days on market $30,000 Active 75 DOM
3. 2026-06-02
   days on market $30,000 Active 74 DOM
4. 2026-06-01
   days on market $30,000 Active 73 DOM
5. 2026-05-31
   days on market $30,000 Active 72 DOM
6. 2026-05-12
   status Active 583-char remark

   Show marketing remark (583 chars)

   ONLINE AUCTION: This auction takes place on the Ashland Auction Group Website Bidding Platform. Bidding begins 6/3/2026 @ 10:00 AM. Bidding ends 6/5/2026 @ 12:20 PM. List Price is Suggested Opening Bid. Deposit: $10,000. This single-story ground level condo unit is located in the Sandtown-Winchester neighborhood of Baltimore City. Residents can enjoy the nearby attractions and facilities such as the Lafayette Square Park and Harlem Square Park. The property is vacant. The area has easy access to the major traffic artery, N Fulton Ave, making commuting and city access seamless.

7. 2026-05-11
   historical 583-char remark

   Show marketing remark (583 chars)

   ONLINE AUCTION: This auction takes place on the Ashland Auction Group Website Bidding Platform. Bidding begins 6/3/2026 @ 10:00 AM. Bidding ends 6/5/2026 @ 12:20 PM. List Price is Suggested Opening Bid. Deposit: $10,000. This single-story ground level condo unit is located in the Sandtown-Winchester neighborhood of Baltimore City. Residents can enjoy the nearby attractions and facilities such as the Lafayette Square Park and Harlem Square Park. The property is vacant. The area has easy access to the major traffic artery, N Fulton Ave, making commuting and city access seamless.

8. 2026-04-01
   price $30,000 583-char remark

   Show marketing remark (583 chars)

   ONLINE AUCTION: This auction takes place on the Ashland Auction Group Website Bidding Platform. Bidding begins 6/3/2026 @ 10:00 AM. Bidding ends 6/5/2026 @ 12:20 PM. List Price is Suggested Opening Bid. Deposit: $10,000. This single-story ground level condo unit is located in the Sandtown-Winchester neighborhood of Baltimore City. Residents can enjoy the nearby attractions and facilities such as the Lafayette Square Park and Harlem Square Park. The property is vacant. The area has easy access to the major traffic artery, N Fulton Ave, making commuting and city access seamless.

9. 2026-03-19
   listed $60,000 Active 583-char remark

   Show marketing remark (583 chars)

   ONLINE AUCTION: This auction takes place on the Ashland Auction Group Website Bidding Platform. Bidding begins 6/3/2026 @ 10:00 AM. Bidding ends 6/5/2026 @ 12:20 PM. List Price is Suggested Opening Bid. Deposit: $10,000. This single-story ground level condo unit is located in the Sandtown-Winchester neighborhood of Baltimore City. Residents can enjoy the nearby attractions and facilities such as the Lafayette Square Park and Harlem Square Park. The property is vacant. The area has easy access to the major traffic artery, N Fulton Ave, making commuting and city access seamless.

10. 2026-01-13
    historical
11. 2025-11-17
    price $114,500
12. 2025-10-29
    listed $129,000 Active
13. 2025-10-22
    historical
14. 2022-01-28
    soldstatus $60,000
15. 2022-01-06
    status Pending
16. 2022-01-04
    soldstatus $60,000 Closed
17. 2022-01-02
    historical
18. 2021-11-28
    status Active
19. 2021-11-15
    status Active Under Contract
20. 2021-11-12
    historical
21. 2021-11-10
    status Active
22. 2021-10-26
    historical Active Under Contract
23. 2021-10-04
    status Active
24. 2021-09-30
    status Pending
25. 2021-09-23
    listed $65,000 Active
26. 2003-09-17
    soldstatus $55,000
27. 2003-09-08
    historical
28. 2003-03-10
    listed
29. 2003-02-28
    historical
30. 2002-08-19
    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: $957 · $80/mo
• Projected year-2 tax: $957 · $80/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: $18,569
• − Mortgage interest: −$7,259
• − Property taxes: −$957
• − Insurance: −$648
• − Repairs & maintenance: −$1,485
• − Management: −$1,485
• − HOA: −$1,800
• − Depreciation: −$3,770
• Taxable income: $1,163
• Est. tax owed @ 24.0%: −$279
• After-tax cash flow: $2,830/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

-45.5% since first listed

25 events — show timeline

• 2026-05-12 Relisted — BRIGHT MLS
• 2026-05-11 Listing Removed — BRIGHT MLS
• 2026-04-01 Price Changed $30,000 BRIGHT MLS
• 2026-03-19 Listed $60,000 BRIGHT MLS
• 2026-01-13 Listing Removed — BRIGHT MLS
• 2025-11-17 Price Changed $114,500 BRIGHT MLS
• 2025-10-29 Listed $129,000 BRIGHT MLS
• 2025-10-22 Coming Soon — BRIGHT MLS
• 2022-01-28 Sold (Public Records) $60,000 Public Records
• 2022-01-06 Pending — BRIGHT MLS
• 2022-01-04 Sold (MLS) $60,000 BRIGHT MLS
• 2022-01-02 Listing Removed — BRIGHT MLS
• 2021-11-28 Relisted — BRIGHT MLS
• 2021-11-15 Relisted — BRIGHT MLS
• 2021-11-12 Listing Removed — BRIGHT MLS
• 2021-11-10 Relisted — BRIGHT MLS
• 2021-10-26 Contingent — BRIGHT MLS
• 2021-10-04 Relisted — BRIGHT MLS
• 2021-09-30 Pending — BRIGHT MLS
• 2021-09-23 Listed $65,000 BRIGHT MLS
• 2003-09-17 Sold (Public Records) $55,000 Public Records
• 2003-09-08 Delisted — MRIS
• 2003-03-10 Listed — MRIS
• 2003-02-28 Delisted — MRIS
• 2002-08-19 Listed — MRIS

Property tax history

-1.7%/yr

Latest (2025): $957 · +25.1% YoY. Source: county tax records.