1145 Cleveland St · Baltimore, MD 21230

$109,900

2 bd · 1.0 ba · 912 sqft · Townhouse public records · 30 Days on market

Built 1898 2.00 ac lot Est $142k · 23% 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
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cozy two bedroom rowhome in Washington Village. Property needs some updates and repairs. Great for a handy first-time homebuyer or and investor. Has potential to provide solid rental income. Sold as-is, seller will make no repairs.

Key facts

• Built 1898
• Listed 30 days

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas service
• Home design: Interior townhouse/rowhouse; Finished area above grade is 912 sq ft; Below-grade unfinished area is 456 sq ft; Fee simple ownership
• Construction: Aluminum siding; Block foundation; Built-up roof; Year built per assessor
• Exterior features: Property is inside city limits (Baltimore City); No tidal water

Interior

• Bedrooms: Two bedrooms on the first upper level
• Bathrooms: One full bathroom
• Heating & cooling: Radiator heat; Natural gas hot water; Cooling: Other
• Interior features: Basement with connecting stairway; Unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $110k.

Deal economics

• At list price, monthly cash flow is $478 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $108k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.1% 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 soft (-1.0%/yr); 362 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $760 of loan paydown is wiped out by about $3k 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 + 0.0% rent growth), your $31k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 23y ago; this cycle's ask has dropped $18k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1898 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; 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 $108,251 (1.5% below list)

Questions for the listing agent

1. Built in 1898 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.59% ✓
• Cap rate: 12.11%
• Cash-on-cash: 20.79%
• DSCR: 1.93
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $142,272
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1121 Cleveland St	0.03mi	2/1.0	912 (0%)	2mo	$109,900	$121	97
1133 Sargeant St	0.16mi	2/1.5	912 (0%)	2mo	$67,500	$74	89
884 Washington Blvd	0.15mi	2/1.5	1,040 (+14%)	3mo	$200,000	$192	66
649 Dover St	0.46mi	1/1.5 (-1)	936 (+3%)	3mo	$195,000	$208	65
1241 W Lombard St	0.50mi	2/1.0	963 (+6%)	3mo	$150,000	$156	65
640 Dover St	0.48mi	3/2.0 (+1)	936 (+3%)	2mo	$220,000	$235	63
1226 W Pratt St	0.45mi	2/1.5	1,000 (+10%)	2mo	$80,000	$80	60
1239 W Lombard St	0.50mi	2/1.0	1,000 (+10%)	3mo	$150,000	$150	58
703 Dover St	0.43mi	2/2.0	1,008 (+10%)	1mo	$225,000	$223	58
802 W Barre St	0.29mi	3/3.0 (+1)	990 (+9%)	3mo	$285,000	$288	56
1125 Bayard St	0.30mi	1/2.0 (-1)	1,032 (+13%)	0mo	$120,000	$116	55
1607 Lemmon St	0.69mi	1/1.0 (-1)	974 (+7%)	1mo	$20,000	$21	51

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 6.6%
• Equity multiple: 1.25×
• Total profit: $7,606
• Equity at exit: $16,386

10-year hold

• IRR: 12.8%
• Equity multiple: 1.86×
• Total profit: $26,472
• Equity at exit: $9,502

Cash invested: $30,772 (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 21230

• Rents YoY: -1.0%
• Active inventory: 362
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,747 high
• Mortgage (P&I): −$576
• Tax from tax record: −$225 /mo · $2,698/yr
• Insurance: −$46
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $478

Break-even live

Break-even rent $1,142

Max offer price $109,900

Occupancy floor 68%

Sensitivity live

Price	-10% $540	-5% $509	+0% $478	+5% $447	+10% $415
Rent	-10% $340	-5% $409	+0% $478	+5% $547	+10% $616
Rate	-1.0pp $533	-0.5pp $506	base $478	+0.5pp $449	+1.0pp $420

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1163 Washington Blvd Baltimore, MD	2.0	2.5	1012	$1,700	$1.68	13d	1	0.10mi
853 Reinhart St Baltimore, MD	2.0	2.5	780	$1,800	$2.31	44d	1	0.12mi
1160 Washington Blvd Baltimore, MD	2.0	1.0	960	$1,575	$1.64	24d	1	0.12mi
1127 Sargeant St Baltimore, MD	2.0	1.5	1080	$1,275	$1.18	24d	1	0.14mi
1142 Sargeant St Baltimore, MD	3.0	2.0	1080	$1,601	$1.48	2d	1	0.16mi
1215 James St Baltimore, MD	2.0	1.0	960	$1,500	$1.56	44d	1	0.19mi
1125 Wicomico St Baltimore, MD	3.0	3.0	1068	$1,955	$1.83	24d	1	0.19mi
805 Washington Blvd Unit B Baltimore, MD	2.0	2.0	1106	$1,650	$1.49	21d	1	0.20mi
805 Washington Blvd Unit A Baltimore, MD	2.0	2.0	1050	$1,650	$1.57	44d	1	0.20mi
519 Scott St Unit 1 Baltimore, MD	2.0	2.0	800	$2,000	$2.50	44d	1	0.21mi
776 Washington Blvd Unit 3F Baltimore, MD	1.0	1.0	800	$1,000	$1.25	44d	1	0.24mi
923 McHenry St Baltimore, MD	3.0	1.0	1008	$1,625	$1.61	44d	1	0.25mi
847 McHenry St Baltimore, MD	2.0	2.0	952	$1,795	$1.89	5d	1	0.25mi
1432 Carroll St Baltimore, MD	2.0	1.5	912	$1,900	$2.08	44d	1	0.30mi
812 S Paca St Baltimore, MD	3.0	2.0	990	$1,500	$1.52	13d	1	0.32mi
638 S Paca St Unit 2404866494 Baltimore, MD	3.0	1.5	1100	$2,200	$2.00	44d	1	0.39mi
725 W Pratt St Baltimore, MD	1.0	1.0	584	$1,925	$3.29	11d	9	0.45mi
305 S Calhoun St Baltimore, MD	2.0	1.0	1000	$1,300	$1.30	22d	1	0.45mi
121 S Fremont Ave Baltimore, MD	1.0	1.0	582	$2,100	$3.61	21d	5	0.45mi
657 Dover St Baltimore, MD	1.0	2.0	1080	$1,400	$1.30	13d	1	0.47mi
653 Dover St Baltimore, MD	1.0	1.5	936	$1,500	$1.60	21d	1	0.47mi
48 S Carrollton Ave Unit 4 Baltimore, MD	2.0	1.0	670	$1,600	$2.39	44d	1	0.51mi
1324 W Lombard St Unit 1 Baltimore, MD	2.0	2.0	1100	$1,500	$1.36	24d	1	0.54mi
1324 W Lombard St Unit 2 Baltimore, MD	2.0	1.5	1100	$1,450	$1.32	44d	1	0.54mi
1315 Hollins St Unit 2 Baltimore, MD	3.0	2.0	1096	$1,860	$1.70	5d	1	0.56mi
1315 Hollins St Unit 2 Baltimore, MD	3.0	2.0	1096	$1,950	$1.78	13d	1	0.56mi
519 W Pratt St Baltimore, MD	1.0	1.0	576	$1,400	$2.43	3d	2	0.59mi
101 N Schroeder St Baltimore, MD	3.0	1.0–2.0	1037	$2,481	$2.39	3d	12	0.65mi
410 W Lombard St Baltimore, MD	1.0	1.0	611	$1,995	$3.26	2d	4	0.71mi
28 N Norris St Baltimore, MD	1.0	2.0	700	$1,450	$2.07	44d	1	0.73mi
1601 Frederick Ave Unit 3 Baltimore, MD	2.0	1.0	1050	$1,050	$1.00	5d	1	0.75mi
301 W Lombard St Baltimore, MD	1.0	1.0–2.0	499	$1,775	$3.56	2d	30	0.75mi
1712 W Lombard St #4 Baltimore, MD	1.0	1.0	550	$900	$1.64	44d	1	0.76mi
617 W Lexington St Baltimore, MD	1.0–2.0	1.0	975	$2,200	$2.26	11d	4	0.80mi
11 S Eutaw St Baltimore, MD	1.0–2.0	1.0–2.0	1023	$2,146	$2.10	2d	11	0.81mi
300 W Lombard St Baltimore, MD	2.0	1.0–2.0	686	$1,835	$2.67	3d	7	0.81mi
123 W Barre St #112 Baltimore, MD	2.0	1.5	975	$2,200	$2.26	44d	1	0.82mi
1 S Eutaw St Unit 1BR Baltimore, MD	1.0	1.0	600	$1,245	$2.08	15d	1	0.82mi
300 W Redwood St Baltimore, MD	1.0	1.0	565	$2,400	$4.25	18d	1	0.84mi
311 W Baltimore St #503 Baltimore, MD	1.0	1.0	900	$1,599	$1.78	44d	1	0.85mi

Listing history 28 events

1. 2026-06-18
   days on market $109,900 Active 30 DOM
2. 2026-06-17
   days on market $109,900 Active 29 DOM
3. 2026-06-16
   days on market $109,900 Active 28 DOM
4. 2026-06-15
   days on market $109,900 Active 27 DOM
5. 2026-06-13
   pricedays on market $109,900 Active 25 DOM
6. 2026-06-09
   days on market $119,900 Active 21 DOM
7. 2026-06-08
   days on market $119,900 Active 20 DOM
8. 2026-06-07
   days on market $119,900 Active 19 DOM
9. 2026-06-04
   days on market $119,900 Active 16 DOM
10. 2026-06-03
    days on market $119,900 Active 15 DOM
11. 2026-06-02
    days on market $119,900 Active 14 DOM
12. 2026-06-02
    price $119,900 Active 13 DOM
13. 2026-06-01
    days on market $127,500 Active 13 DOM
14. 2026-05-31
    days on market $127,500 Active 12 DOM
15. 2026-05-19
    listed $127,500 Active
16. 2018-03-01
    soldstatus $4,552,396
17. 2010-09-07
    historical 231-char remark

    Show marketing remark (231 chars)

    Cozy two bedroom rowhome in Washington Village. Property needs some updates and repairs. Great for a handy first-time homebuyer or and investor. Has potential to provide solid rental income. Sold as-is, seller will make no repairs.

18. 2010-08-20
    soldstatus $35,000 Sold 231-char remark

    Show marketing remark (231 chars)

    Cozy two bedroom rowhome in Washington Village. Property needs some updates and repairs. Great for a handy first-time homebuyer or and investor. Has potential to provide solid rental income. Sold as-is, seller will make no repairs.

19. 2010-08-20
    soldstatus $35,000 231-char remark

    Show marketing remark (231 chars)

    Cozy two bedroom rowhome in Washington Village. Property needs some updates and repairs. Great for a handy first-time homebuyer or and investor. Has potential to provide solid rental income. Sold as-is, seller will make no repairs.

20. 2010-08-03
    status Contract 231-char remark

    Show marketing remark (231 chars)

    Cozy two bedroom rowhome in Washington Village. Property needs some updates and repairs. Great for a handy first-time homebuyer or and investor. Has potential to provide solid rental income. Sold as-is, seller will make no repairs.

21. 2010-07-28
    historical 231-char remark

    Show marketing remark (231 chars)

    Cozy two bedroom rowhome in Washington Village. Property needs some updates and repairs. Great for a handy first-time homebuyer or and investor. Has potential to provide solid rental income. Sold as-is, seller will make no repairs.

22. 2010-06-30
    listed $49,900 Active 231-char remark

    Show marketing remark (231 chars)

    Cozy two bedroom rowhome in Washington Village. Property needs some updates and repairs. Great for a handy first-time homebuyer or and investor. Has potential to provide solid rental income. Sold as-is, seller will make no repairs.

23. 2010-06-30
    listed $49,900 231-char remark

    Show marketing remark (231 chars)

    Cozy two bedroom rowhome in Washington Village. Property needs some updates and repairs. Great for a handy first-time homebuyer or and investor. Has potential to provide solid rental income. Sold as-is, seller will make no repairs.

24. 2004-06-15
    soldstatus $39,500
25. 2004-05-15
    soldstatus $39,500
26. 2004-03-17
    historical
27. 2003-11-19
    listed $43,000
28. 1988-05-24
    soldstatus $15,250

ⓘ 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: $2,698 · $225/mo
• Projected year-2 tax: $2,698 · $225/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 8/10 Severe FEMA zone X (unshaded) · 99% 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: $20,964
• − Mortgage interest: −$6,156
• − Property taxes: −$2,698
• − Insurance: −$1,216
• − Repairs & maintenance: −$1,677
• − Management: −$1,677
• − Depreciation: −$3,197
• Taxable income: $4,342
• Est. tax owed @ 24.0%: −$1,042
• After-tax cash flow: $4,689/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): 32,977
• Household income: $91,842
• Rent vs Own: 49.3% rent · 50.7% own
• Severe rent burden: 1463.0

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 0.63)
• Race & ethnicity: White 55% Black 23% Hispanic / Latino 13% Two or more races 6% Asian 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1%
• Common ancestry: Romanian 5% Lithuanian 2% Italian 2%
• Foreign-born: 10% · Canada, China
• Languages at home: 85% English-only · Spanish 9% Other Indo-European 1% Other Asian/Pacific 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: ▼ -311.43%
• Current HPI: 284.338
• Rent YoY: ▼ -1.00%
• 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

+736.1% since first listed

14 events — show timeline

• 2026-05-19 Listed $127,500 BRIGHT MLS
• 2018-03-01 Sold (Public Records) $4,552,396 Public Records
• 2010-09-07 Delisted — MRIS
• 2010-08-20 Sold (MLS) $35,000 BRIGHT MLS
• 2010-08-20 Sold (MLS) $35,000 MRIS
• 2010-08-03 Pending — MRIS
• 2010-07-28 Listing Removed — BRIGHT MLS
• 2010-06-30 Listed $49,900 MRIS
• 2010-06-30 Listed $49,900 BRIGHT MLS
• 2004-06-15 Sold (Public Records) $39,500 Public Records
• 2004-05-15 Sold (MLS) $39,500 MRIS
• 2004-03-17 Delisted — MRIS
• 2003-11-19 Listed $43,000 MRIS
• 1988-05-24 Sold (Public Records) $15,250 Public Records

Property tax history

+2.8%/yr

Latest (2025): $2,698 · +6.6% YoY. Source: county tax records.