2516 Fait Ave · Baltimore, MD 21224

$195,000

3 bd · 1.0 ba · 1,080 sqft · Townhouse public records · 10 Days on market

Built 1900 945 sqft lot Est $308k · 37% 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 +25.7/30.0
• ARV discount +15.0/15.0
• DSCR +8.6/10.0
• 1% rule +7.4/10.0
• Livability +3.8/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Investor opportunity in Canton! 2516 Fait Ave presents a unique value-add opportunity in one of Baltimore City's most sought-after neighborhoods. Whether you're looking to renovate and resell, renovate and hold as a long-term investment, or explore future development possibilities, this property offers significant upside potential. Located on a highly visible main street directly next to Smaltimore and surrounded by popular Canton restaurants, bars, and local businesses, the property benefits from exceptional exposure and a prime location. Conveniently situated near Canton Square, Patterson Park, Johns Hopkins Bayview, downtown Baltimore, and major commuter routes including I-95 and I-895.

Key facts

• Built 1900
• Listed 10 days

Property features AI

Finance

• Financial info: Fee simple ownership; Land assessed separately (assessed values provided); Annual ground rent (income/expense item listed)

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas service
• Home design: Interior townhouse/rowhouse; Above-grade finished living area: 1,080 (source: assessor); Level entry main
• Construction: Brick construction; Crawl space foundation; Includes above grade and below grade structures
• Exterior features: Not located in a federal flood zone; Ground rent exists

Interior

• Kitchen: Kitchen with table space
• Bedrooms: 3 bedrooms on the first upper level
• Bathrooms: 2 full bathrooms (1 on main level, 1 on first upper level)
• Heating & cooling: Forced air heating; Electric cooling; Natural gas hot water
• Interior features: Kitchen with table space; Level entry to main floor

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $195k.

Deal economics

• At list price, monthly cash flow is $466 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• Cap rate 9.2% 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 (+1.3%/yr); 391 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); 52% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• This rent runs 33% of the median local income ($89k/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.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $43k; list at $195k implies a 349% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $195,000

Questions for the listing agent

1. Built in 1900 — 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: 1.24% ✓
• Cap rate: 9.16%
• Cash-on-cash: 10.24%
• DSCR: 1.46
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $307,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2731 Fait Ave	0.18mi	2/2.0 (-1)	1,097 (+2%)	0mo	$285,000	$260	80
2933 Hudson St	0.34mi	2/2.0 (-1)	1,120 (+4%)	1mo	$235,000	$210	68
806 S Bouldin St	0.54mi	2/2.5 (-1)	1,080 (0%)	1mo	$360,000	$333	63
14 S Curley St	0.64mi	2/1.0 (-1)	1,092 (+1%)	1mo	$269,000	$246	62
617 S Durham St	0.53mi	3/1.5	1,007 (-7%)	0mo	$315,000	$313	62
1008 S Clinton St	0.60mi	3/1.0	1,176 (+9%)	1mo	$200,000	$170	56
325 S Castle St	0.47mi	2/1.5 (-1)	1,196 (+11%)	0mo	$275,000	$230	53
322 S Duncan St	0.42mi	2/1.5 (-1)	924 (-14%)	0mo	$280,000	$303	49
705 S Regester St	0.61mi	2/1.5 (-1)	1,176 (+9%)	1mo	$340,000	$289	49
3033 Elliott St	0.51mi	2/2.5 (-1)	1,180 (+9%)	1mo	$310,000	$263	49
922 S Bouldin St	0.55mi	2/2.0 (-1)	1,202 (+11%)	1mo	$352,000	$293	46
520 S Bouldin St	0.56mi	2/1.5 (-1)	1,212 (+12%)	1mo	$345,000	$285	46

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 · 1.31% rent growth · sell at horizon

5-year hold

• IRR: -2.9%
• Equity multiple: 0.89×
• Total profit: $-5,854
• Equity at exit: $29,075

10-year hold

• IRR: 4.7%
• Equity multiple: 1.32×
• Total profit: $17,498
• Equity at exit: $16,860

Cash invested: $54,600 (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 21224

• Rents YoY: 1.3%
• Active inventory: 391
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,414 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$337 /mo · $4,043/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$507
• Net cashflow: $466

Break-even live

Break-even rent $1,824

Max offer price $195,000

Occupancy floor 76%

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
825 S Port St Baltimore, MD	2.0	1.5	1316	$2,800	$2.13	44d	1	0.06mi
2210 Cambridge St Baltimore, MD	3.0	3.5	1450	$2,725	$1.88	44d	1	0.23mi
513 S Madeira St Baltimore, MD	2.0	2.0	1132	$2,000	$1.77	4d	1	0.26mi
2639 Boston St #210 Baltimore, MD	2.0	2.0	784	$2,150	$2.74	44d	1	0.27mi
411 S Madeira St Baltimore, MD	2.0	2.0	1312	$2,150	$1.64	44d	1	0.32mi
643 S Potomac St Baltimore, MD	2.0	1.0	785	$1,650	$2.10	44d	1	0.38mi
2018 Fountain St Baltimore, MD	2.0	1.0	1000	$1,550	$1.55	18d	1	0.39mi
305 S Collington Ave Baltimore, MD	3.0	2.5	722	$2,895	$4.01	17d	1	0.40mi
328 S Collington Ave Baltimore, MD	2.0	2.0	1100	$2,300	$2.09	44d	1	0.41mi
3036 Hudson St Baltimore, MD	2.0	2.5	1428	$2,600	$1.82	44d	1	0.43mi
2809 Boston St Baltimore, MD	1.0–3.0	1.0–3.0	1246	$3,440	$2.76	2d	11	0.43mi
227 S Madeira St Baltimore, MD	2.0	2.5	1100	$2,200	$2.00	44d	1	0.45mi
211 S Madeira St Baltimore, MD	2.0	1.0	819	$1,650	$2.01	4d	1	0.47mi
1000 Fell St #603 Baltimore, MD	2.0	1.0	1224	$2,200	$1.80	44d	1	0.50mi
1910 Eastern Ave Unit 2 Baltimore, MD	2.0	1.0	850	$1,375	$1.62	20d	1	0.51mi
1209 S Ellwood Ave Baltimore, MD	2.0	2.0	1188	$2,250	$1.89	44d	1	0.55mi
1742 Fleet St Unit 204 Baltimore, MD	2.0	2.0	916	$2,100	$2.29	44d	1	0.59mi
3245 Fait Ave Baltimore, MD	3.0	2.0	1470	$2,900	$1.97	44d	1	0.59mi
102 S Curley St Baltimore, MD	2.0	1.5	1200	$1,800	$1.50	4d	1	0.62mi
251 S Durham St Baltimore, MD	2.0	1.5	1120	$2,300	$2.05	24d	1	0.63mi
1816 Gough St Baltimore, MD	4.0	2.0	1248	$3,500	$2.80	24d	1	0.64mi
3306 Fleet St Baltimore, MD	4.0	3.0	1308	$3,500	$2.68	44d	1	0.64mi
1802 Gough St Baltimore, MD	3.0	2.0	1368	$2,595	$1.90	44d	1	0.65mi
9 N Luzerne Ave Baltimore, MD	3.0	2.5	1380	$2,450	$1.78	4d	1	0.66mi
622 S Broadway Baltimore, MD	2.0	1.0–2.0	953	$2,998	$3.14	2d	8	0.68mi
16 N Bradford St Baltimore, MD	2.0	3.5	930	$2,400	$2.58	4d	1	0.68mi
400 S Highland Ave Unit 402 Baltimore, MD	2.0	1.0	900	$1,700	$1.89	44d	1	0.69mi
10 N Streeper St Baltimore, MD	3.0	2.5	1440	$2,500	$1.74	24d	1	0.70mi
1818 E Pratt St Apt B Baltimore, MD	2.0	1.0	800	$1,500	$1.88	44d	1	0.70mi
127 S Robinson St Baltimore, MD	2.0	1.5	1400	$2,000	$1.43	44d	1	0.70mi
706 S Bethel St Baltimore, MD	3.0	2.0	1500	$3,300	$2.20	44d	1	0.72mi
104 N Rose St Baltimore, MD	3.0	2.0	936	$2,500	$2.67	44d	1	0.73mi
107 N Port St Baltimore, MD	2.0	2.0	870	$1,995	$2.29	24d	1	0.73mi
2242 E Fairmount Ave Baltimore, MD	3.0	2.0	1345	$2,850	$2.12	44d	1	0.73mi
516 S Bethel St Baltimore, MD	2.0	2.0	1307	$2,500	$1.91	24d	1	0.74mi
34 N Linwood Ave Baltimore, MD	2.0	1.5	1288	$2,400	$1.86	24d	1	0.74mi
16 S Wolfe St Unit B Baltimore, MD	2.0	2.0	1014	$1,800	$1.78	18d	1	0.75mi
127 N Glover St Baltimore, MD	2.0	1.5	1110	$2,100	$1.89	3d	1	0.76mi
108 N Madeira St Baltimore, MD	2.0	2.0	1098	$1,900	$1.73	44d	1	0.76mi
106 S Bouldin St Baltimore, MD	2.0	3.0	1134	$2,100	$1.85	20d	1	0.76mi

Listing history 15 events

1. 2026-06-18
   days on market $195,000 Active 10 DOM
2. 2026-06-17
   days on market $195,000 Active 9 DOM
3. 2026-06-16
   remarks 699-char remark
4. 2026-06-16
   days on market $195,000 Active 8 DOM
5. 2026-06-15
   pricestatus $195,000 Active 7 DOM
6. 2026-06-04
   pricestatus $206,000 Active Under Contract 7 DOM
7. 2026-06-03
   days on market $195,000 Active 7 DOM
8. 2026-06-02
   days on market $195,000 Active 6 DOM
9. 2026-06-01
   days on market $195,000 Active 5 DOM
10. 2026-05-31
    days on market $195,000 Active 4 DOM
11. 1998-05-20
    soldstatus $43,400
12. 1998-04-16
    soldstatus $43,400
13. 1998-03-18
    historical
14. 1997-12-10
    listed $45,000
15. 1987-06-11
    soldstatus $26,000

ⓘ 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: $4,043 · $337/mo
• Projected year-2 tax: $4,043 · $337/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 8/10 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: $28,965
• − Mortgage interest: −$10,923
• − Property taxes: −$4,043
• − Insurance: −$975
• − Repairs & maintenance: −$2,317
• − Management: −$2,317
• − Depreciation: −$5,673
• Taxable income: $2,717
• Est. tax owed @ 24.0%: −$652
• After-tax cash flow: $4,941/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): 47,465
• Household income: $89,017
• Rent vs Own: 41.5% rent · 58.5% own
• Severe rent burden: 1786.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 55% Hispanic / Latino 21% Black 16% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2% Dominican 1%
• Common ancestry: Romanian 5% Lithuanian 2% Italian 1%
• Foreign-born: 17% · Canada, China, Vietnam
• Languages at home: 76% English-only · Spanish 18% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -332.23%
• Current HPI: 241.284
• Rent YoY: ▲ 1.31%
• 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

+66.9% since first listed

5 events — show timeline

• 1998-05-20 Sold (Public Records) $43,400 Public Records
• 1998-04-16 Sold (MLS) $43,400 MRIS
• 1998-03-18 Delisted — MRIS
• 1997-12-10 Listed $45,000 MRIS
• 1987-06-11 Sold (Public Records) $26,000 Public Records

Property tax history

+0.7%/yr

Latest (2025): $4,043 · +4.2% YoY. Source: county tax records.