2 W Jeffrey · Baltimore, MD 21225

$165,000

3 bd · 1.0 ba · 840 sqft · Townhouse public records · 14 Days on market

Built 1928

---

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 +25.3/30.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

WHY RENT WHEN YOU CAN OWN THIS NEWLY RENOVATED END OF GROUP ROWHOME WITH 3 FINISHED LEVELS! Features include wood laminate flooring throughout the upper levels, a spacious living room, Chef's kitchen with granite counters, ss appliances, and tile backsplash, upper level with 2 bedrooms and 1 full bath, a finished basement with a 3rd bedroom, full bath, and laundry room, and a spacious rear yard! A quick commute to major roadways, BWI, and downtown Baltimore!

Key facts

• Built 1928
• Listed 14 days

Property features AI

Finance

• Other: No lease considered; Not in a federal flood zone; Pets allowed with no pet restrictions

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Electric available; Natural gas available
• Home design: End of row townhouse; Fee simple ownership; Property in excellent condition; Estimated major renovation in 2025
• Construction: Brick construction; Other foundation
• Exterior features: Rear yard; Fully wood fenced yard

Interior

• Kitchen: Built-in microwave; Dishwasher; Gas oven/range; Refrigerator; Stainless steel appliances
• Bedrooms: Two bedrooms on the upper level; One bedroom on the lower level
• Bathrooms: Two full bathrooms (one on upper level, one on lower level)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning (electric)
• Interior features: Fully finished, heated basement with interior access and walkout stairs; Estimated living area; Sidewalks and street lights on the property
• Laundry & utility: Washer and dryer in unit; Natural gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $165k.

Deal economics

• At list price, monthly cash flow is $374 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Cap rate 9.0% 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 (+4.1%/yr); 165 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• This rent runs 40% of the median local income ($54k/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 $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 + 4.1% rent growth), your $46k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts; this cycle's ask is 9067% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $130k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1928 — 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 $165,000

Questions for the listing agent

1. Built in 1928 — 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: 1.08% ✓
• Cap rate: 9.01%
• Cash-on-cash: 9.71%
• DSCR: 1.43
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $104,160
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3571 Horton Ave	0.34mi	2/1.0 (-1)	826 (-2%)	1mo	$25,000	$30	75
43 Talbott St	0.10mi	2/1.0 (-1)	950 (+13%)	12mo	$68,250	$72	58
3541 Horton Ave	0.38mi	3/1.0	921 (+10%)	23mo	$150,000	$163	47
4009 6th St	0.50mi	3/1.5	952 (+13%)	7mo	$159,900	$168	46
529 Cambria St	0.43mi	2/1.0 (-1)	924 (+10%)	14mo	$115,000	$124	46
4113 Townsend Ave	0.68mi	3/1.0	928 (+10%)	8mo	$185,000	$199	44
533 Cambria St	0.44mi	2/— (-1)	924 (+10%)	20mo	$44,000	$48	42
827 Pontiac Ave	0.68mi	3/1.0	960 (+14%)	8mo	$77,000	$80	38
3601 9th St	0.74mi	3/1.0	960 (+14%)	7mo	$35,000	$36	36
4015 6th	0.51mi	4/2.0 (+1)	952 (+13%)	16mo	$210,000	$221	32

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 · 4.08% rent growth · sell at horizon

5-year hold

• IRR: -0.6%
• Equity multiple: 0.98×
• Total profit: $-1,007
• Equity at exit: $24,602

10-year hold

• IRR: 10.1%
• Equity multiple: 1.82×
• Total profit: $37,842
• Equity at exit: $14,266

Cash invested: $46,200 (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 21225

• Home prices YoY: -31.9%
• Rents YoY: 4.1%
• Active inventory: 165
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,783 high
• Mortgage (P&I): −$865
• Tax from tax record: −$101 /mo · $1,209/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $374

Break-even live

Break-even rent $1,310

Max offer price $165,000

Occupancy floor 74%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
217 W Edgevale Rd Brooklyn, MD	3.0	1.5	992	$1,800	$1.81	23d	1	0.32mi
4207 3rd St Unit 3 Brooklyn, MD	2.0	1.0	850	$1,595	$1.88	4d	1	0.34mi
3513 Horton Ave Brooklyn, MD	3.0	1.0	1020	$1,600	$1.57	17d	1	0.38mi
507 Washburn Ave Brooklyn, MD	3.0	1.5	1024	$2,500	$2.44	4d	1	0.39mi
507 Washburn Ave Brooklyn, MD	3.0	1.5	1024	$2,500	$2.44	20d	1	0.39mi
507 Washburn Ave Brooklyn, MD	3.0	1.5	1024	$2,500	$2.44	23d	1	0.39mi
4400 4th St Unit BASEMENT Baltimore, MD	2.0	1.0	925	$1,350	$1.46	43d	1	0.44mi
3528 6th St Brooklyn, MD	2.0	2.5	1060	$1,500	$1.42	17d	1	0.51mi
4206 Audrey Ave Brooklyn, MD	2.0	2.0	1104	$1,275	$1.15	43d	1	0.53mi
4206 Audrey Ave Brooklyn, MD	3.0	3.0	1104	$1,950	$1.77	23d	1	0.53mi
3840 8th St Brooklyn, MD	3.0	1.5	1088	$1,606	$1.48	4d	1	0.57mi
3826 10th St Unit Entire House Baltimore, MD	3.0	2.0	1110	$2,400	$2.16	23d	1	0.79mi
1 Ballman Ct Unit 2 Baltimore, MD	2.0	1.0	700	$1,250	$1.79	43d	1	0.83mi
1049 E Patapsco Ave Unit a Baltimore, MD	2.0	1.0	748	$1,257	$1.68	43d	1	0.91mi
511 Seagull Ave Brooklyn, MD	2.0	1.0	756	$1,550	$2.05	23d	1	0.91mi
5215 Wasena Ave Brooklyn, MD	3.0	1.0	1030	$1,650	$1.60	43d	1	0.92mi
5227 Patrick Henry Dr Brooklyn, MD	2.0	1.0	736	$1,326	$1.80	21d	1	0.94mi
1305 E Patapsco Ave Brooklyn, MD	3.0	1.5	930	$1,650	$1.77	4d	1	1.04mi
1353 Cambria St Brooklyn, MD	3.0	2.0	986	$1,600	$1.62	17d	1	1.10mi
4216 Prudence St Curtis Bay, MD	4.0	3.0	1116	$2,100	$1.88	43d	1	1.21mi
2745 Round Rd Brooklyn, MD	2.0	2.0	756	$1,800	$2.38	43d	1	1.21mi
2868 Potee St Baltimore, MD	1.0–3.0	1.0	720	$1,599	$2.22	2d	22	1.22mi
3010 Alabama Ave Halethorpe, MD	2.0	1.0	900	$2,200	$2.44	17d	1	1.23mi
2454 Terra Firma Rd Brooklyn, MD	3.0	1.0	1024	$1,650	$1.61	14d	1	1.32mi
90 Hammonds Ln Brooklyn Park, MD	1.0–2.0	1.0–2.0	757	$1,964	$2.59	1d	4	1.40mi

Listing history 11 events

1. 2026-06-18
   days on market $165,000 Active 14 DOM
2. 2026-06-17
   days on market $165,000 Active 13 DOM
3. 2026-06-16
   days on market $165,000 Active 12 DOM
4. 2026-06-15
   days on market $165,000 Active 11 DOM
5. 2026-06-13
   days on market $165,000 Active 9 DOM
6. 2026-06-09
   days on market $165,000 Active 5 DOM
7. 2026-06-08
   days on market $165,000 Active 4 DOM
8. 2026-06-07
   statusdays on market $165,000 Active 3 DOM
9. 2026-06-04
   days on market $165,000 Coming Soon 2 DOM
10. 2026-06-02
    remarks 699-char remark
11. 2026-06-02
    listed $165,000 Coming Soon 1 DOM

ⓘ 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: $1,209 · $101/mo
• Projected year-2 tax: $1,504 · $125/mo
• Expected delta: +$295/yr (+$25/mo · 24.4%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥102°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 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,396
• − Mortgage interest: −$9,243
• − Property taxes: −$1,209
• − Insurance: −$825
• − Repairs & maintenance: −$1,712
• − Management: −$1,712
• − Depreciation: −$4,800
• Taxable income: $1,897
• Est. tax owed @ 24.0%: −$455
• After-tax cash flow: $4,031/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: Anne Arundel County · 535,653 people
• City population: 588,727
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 34,062
• Household income: $54,020
• Rent vs Own: 50.4% rent · 49.6% own
• Severe rent burden: 1440.0

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 0.68)
• Race & ethnicity: Black 42% White 32% Hispanic / Latino 20% Two or more races 8% Native American 3% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Romanian 2% Lithuanian 1% Iranian 1%
• Foreign-born: 12% · Canada, China
• Languages at home: 81% English-only · Spanish 16% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -119.44%
• Current HPI: 254.5089
• Rent YoY: ▲ 4.08%
• 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

+83.3% since first listed

13 events — show timeline

• 2026-06-02 Coming Soon $165,000 BRIGHT MLS
• 2025-03-21 Rental Removed $1,800 BRIGHTMLS
• 2025-03-14 Listed for Rent $1,800 BRIGHTMLS
• 2025-02-28 Sold (Public Records) $130,500 Public Records
• 2025-02-13 Sold (MLS) $130,500 BRIGHT MLS
• 2025-01-22 Pending — BRIGHT MLS
• 2025-01-22 Price Changed $130,500 BRIGHT MLS
• 2025-01-16 Listed $127,900 BRIGHT MLS
• 2024-06-21 Sold (Public Records) $90,000 Public Records
• 2017-03-17 Sold (MLS) $30,000 BRIGHT MLS
• 2004-12-08 Sold (Public Records) $45,000 Public Records
• 1991-09-06 Sold (Public Records) $37,500 Public Records
• 1987-02-06 Sold (Public Records) $90,000 Public Records

Property tax history

-1.1%/yr

Latest (2025): $1,209 · +7.8% YoY. Source: county tax records.