2316 E Madison St · Baltimore, MD 21205

$125,000

3 bd · 1.0 ba · 644 sqft · Townhouse public records · 89 Days on market

Built 1920 955 sqft lot $194/sqft · 40% above area Est $154k · 19% under ↓ 4% since listing

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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 +5.0/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Buy-Back-The-Block eligible participants may receive up to $15,000 in grant funds to purchase this home. A fresh coat of paint is all it takes to make 2316 E Madison St shine like new. This property went through a full renovation in 2013 with all new framing, drywall, wood flooring, electric, plumbing, baths, kitchen, etc. A new roof including decking and skylight were installed in 2024. Some pictures are from a previous listing to show potential. With new construction homes at Henderson Crossing and a short walk to Johns Hopkins Hospital, Northeast Market, and Patterson Park, this area has seen a massive revitalizing over the past few years with numerous renovated properties hitting the market making this a prime investment opportunity for any homeowner or investor.

Key facts

• Full renovation
• New roof
• Built 1920

Tags

• FULL RENOVATION
• NEW ROOF
• PRIME INVESTMENT OPPORTUNITY

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $125k.

Deal economics

• At list price, monthly cash flow is $739 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $118k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.4% 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 (+9.9%/yr); 143 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• At $1,940/mo this rent would consume 54% of the median local household income ($43k/yr) (locally 966% 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 $864 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 + 8.0% rent growth), your $35k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $57k (31%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $117,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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: 1.55% ✓
• Cap rate: 13.39%
• Cash-on-cash: 25.33%
• DSCR: 2.13
• GRM: 5.4

CMA / ARV

• ARV (median comp): $154,255
• List price: $125,000
• Delta: -18.97%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2305 Ashland Ave	0.05mi	3/1.0	616 (-4%)	4mo	$78,000	$127	87
506 N Patterson Park Ave	0.22mi	3/1.5	640 (-1%)	8mo	$78,000	$122	80
26 N Madeira St	0.51mi	2/2.0 (-1)	672 (+4%)	6mo	$103,000	$153	54

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 24.2%
• Equity multiple: 2.06×
• Total profit: $37,046
• Equity at exit: $18,638

10-year hold

• IRR: 34.9%
• Equity multiple: 4.98×
• Total profit: $139,469
• Equity at exit: $10,808

Cash invested: $35,000 (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 21205

• Home prices YoY: -5.8%
• Rents YoY: 9.9%
• Active inventory: 143
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,940 high
• Mortgage (P&I): −$656
• Tax from tax record: −$86 /mo · $1,033/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $739

Break-even live

Break-even rent $1,005

Max offer price $125,000

Occupancy floor 57%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
500 N Rose St Baltimore, MD	3.0	2.0	520	$1,200	$2.31	4d	1	0.24mi
2221 E Preston St Baltimore, MD	2.0	1.0	658	$1,200	$1.82	23d	1	0.40mi
2410 E Federal St Baltimore, MD	4.0	2.0	720	$2,200	$3.06	23d	1	0.63mi
1607 Hakesley Pl Baltimore, MD	3.0	1.0	720	$1,400	$1.94	43d	1	0.72mi
305 S Collington Ave Baltimore, MD	3.0	2.5	722	$2,895	$4.01	17d	1	0.87mi
520 Somerset St Baltimore, MD	1.0–2.0	1.0–2.0	634	$1,578	$2.49	43d	1	0.95mi
210 S Caroline St Baltimore, MD	1.0–2.0	1.0	808	$1,965	$2.43	43d	23	1.09mi
622 S Broadway Baltimore, MD	2.0	1.0–2.0	953	$2,998	$3.14	1d	8	1.23mi
1100 Greenmount Ave Baltimore, MD	1.0–3.0	1.0–2.0	839	$2,584	$3.08	2d	1	1.30mi
3905 Bank St Baltimore, MD	4.0	1.0–3.0	909	$2,820	$3.10	2d	20	1.38mi
555 President St Baltimore, MD	3.0	1.0–4.0	1352	$5,373	$3.97	2d	1	1.43mi
1001 Aliceanna St Baltimore, MD	1.0–2.0	1.0–2.0	844	$3,081	$3.65	3d	3	1.45mi

Listing history 18 events

1. 2026-06-18
   days on market $125,000 Active 89 DOM
2. 2026-06-17
   days on market $125,000 Active 88 DOM
3. 2026-06-16
   days on market $125,000 Active 87 DOM
4. 2026-06-15
   days on market $125,000 Active 86 DOM
5. 2026-06-13
   pricedays on market $125,000 Active 84 DOM
6. 2026-06-09
   days on market $175,000 Active 80 DOM
7. 2026-06-08
   days on market $175,000 Active 79 DOM
8. 2026-06-07
   days on market $175,000 Active 78 DOM
9. 2026-06-04
   days on market $175,000 Active 75 DOM
10. 2026-06-03
    days on market $175,000 Active 74 DOM
11. 2026-06-02
    days on market $175,000 Active 73 DOM
12. 2026-06-01
    days on market $175,000 Active 72 DOM
13. 2026-05-31
    days on market $175,000 Active 71 DOM
14. 2026-05-12
    price $175,000 777-char remark

    Show marketing remark (777 chars)

    Buy-Back-The-Block eligible participants may receive up to $15,000 in grant funds to purchase this home. A fresh coat of paint is all it takes to make 2316 E Madison St shine like new. This property went through a full renovation in 2013 with all new framing, drywall, wood flooring, electric, plumbing, baths, kitchen, etc. A new roof including decking and skylight were installed in 2024. Some pictures are from a previous listing to show potential. With new construction homes at Henderson Crossing and a short walk to Johns Hopkins Hospital, Northeast Market, and Patterson Park, this area has seen a massive revitalizing over the past few years with numerous renovated properties hitting the market making this a prime investment opportunity for any homeowner or investor.

15. 2026-03-21
    listed $182,000 Active 777-char remark

    Show marketing remark (777 chars)

    Buy-Back-The-Block eligible participants may receive up to $15,000 in grant funds to purchase this home. A fresh coat of paint is all it takes to make 2316 E Madison St shine like new. This property went through a full renovation in 2013 with all new framing, drywall, wood flooring, electric, plumbing, baths, kitchen, etc. A new roof including decking and skylight were installed in 2024. Some pictures are from a previous listing to show potential. With new construction homes at Henderson Crossing and a short walk to Johns Hopkins Hospital, Northeast Market, and Patterson Park, this area has seen a massive revitalizing over the past few years with numerous renovated properties hitting the market making this a prime investment opportunity for any homeowner or investor.

16. 2025-12-01
    historical
17. 2025-11-17
    listed $182,500 Active
18. 2023-06-29
    historical

ⓘ 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: $1,033 · $86/mo
• Projected year-2 tax: $1,198 · $100/mo
• Expected delta: +$165/yr (+$14/mo · 15.9%)

ⓘ 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: $23,281
• − Mortgage interest: −$7,002
• − Property taxes: −$1,033
• − Insurance: −$625
• − Repairs & maintenance: −$1,862
• − Management: −$1,862
• − Depreciation: −$3,636
• Taxable income: $7,259
• Est. tax owed @ 24.0%: −$1,742
• After-tax cash flow: $7,125/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): 13,013
• Household income: $43,176
• Rent vs Own: 63.6% rent · 36.4% own
• Severe rent burden: 966.0

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 0.60)
• Race & ethnicity: Black 60% Hispanic / Latino 16% White 14% Two or more races 11% Asian 3%
• Hispanic origin (detail): Mexican 1% Cuban 1% Dominican 4%
• Common ancestry: Slovak 3% Romanian 1%
• Foreign-born: 16% · Canada, China
• Languages at home: 79% English-only · Spanish 11% Arabic 4% 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: ▼ -15.03%
• Current HPI: 244.1345
• Rent YoY: ▲ 9.88%
• 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

-4.1% since first listed

5 events — show timeline

• 2026-05-12 Price Changed $175,000 BRIGHT MLS
• 2026-03-21 Listed $182,000 BRIGHT MLS
• 2025-12-01 Listing Removed — BRIGHT MLS
• 2025-11-17 Listed $182,500 BRIGHT MLS
• 2023-06-29 Rental Removed — BRIGHTMLS

Property tax history

+1.6%/yr

Latest (2025): $1,033 · +8.2% YoY. Source: county tax records.