1610 Carswell St · Baltimore, MD 21218

$110,000

2 bd · 2.0 ba · 1,300 sqft · Townhouse · 43 Days on market

Built 1920 $85/sqft · 35% below area Est $168k · 35% under

---

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
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 1610 Carswell Street! This is an ideal opportunity for first time homebuyers or investors seeking strong rental potential and long-term value. This updated rowhome offers 2 bedrooms with the ability to create a 3rd bedroom in the fully finished basement, providing added flexibility to maximize rental income. Conveniently located just minutes from Johns Hopkins University, this home offers easy access to some of Baltimore’s most popular destinations including Inner Harbor, National Aquarium, and Fell's Point, along with nearby parks, dining, and entertainment options. Inside there is new flooring throughout complemented by fresh paint and lots of natural sunlight that bright

Key facts

• Rear deck
• Fenced backyard
• Built 1920

Tags

• FULLY FINISHED BASEMENT
• REAR DECK
• FENCED BACKYARD
• VERSATILE OPEN LAYOUT

Property features AI

Finance

• Financial info: Fee simple ownership; Annual ground rent (exists)

Exterior

• Parking: On-street parking
• Utilities: Public water; No septic system
• Home design: End of row/townhouse configuration; Estimated year built
• Construction: Brick construction; Brick/mortar foundation; Composite and shingle roof
• Exterior features: End of row/townhouse; Above-grade other structure; Ground rent exists; Not in a federal flood zone; In city limits

Interior

• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom; 2 half bathrooms
• Heating & cooling: Central heating; Central air conditioning; Electric hot water
• Interior features: Estimated living area; Fully finished basement

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $110k.

Deal economics

• At list price, monthly cash flow is $665 ($8k/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: $107k (3.0% below list) — sets the bar for market timing.

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: 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.
• Zoned schools: Abbottston Elementary (math 2% / reading 2%, grade F, #826 of 860 statewide, top 100%, 346 students, 80% FRL); Baltimore City College (math 50% / reading 79%, grade B-, #55 of 222 statewide, top 26%, 1,497 students, 46% FRL) — zoned schools average 63% FRL vs 79% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 34% at this address vs 12% district-wide (+22 pts) — the actual schools serving this property are materially stronger than the Baltimore City Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+1.6%/yr); 325 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $761 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 + 1.6% rent growth), your $31k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 30y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $7k; list at $110k implies a 1386% gain — meaningful room to come down on a strong offer.

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 $106,700 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% 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. 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: 1.53% ✓
• Cap rate: 13.55%
• Cash-on-cash: 25.92%
• DSCR: 2.15
• GRM: 5.4

CMA / ARV

• ARV (median comp): $168,329
• List price: $110,000
• Delta: -34.65%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2770 The Alameda	0.10mi	3/1.0 (+1)	1,250 (-4%)	3mo	$115,000	$92	78
2545 Cecil Ave	0.32mi	3/2.5 (+1)	1,318 (+1%)	1mo	$215,000	$163	75
1723 E 32nd St	0.36mi	3/2.0 (+1)	1,280 (-2%)	2mo	$128,000	$100	74
2560 Cecil Ave	0.30mi	3/3.0 (+1)	1,300 (0%)	3mo	$210,000	$162	74
1632 E 31st St	0.31mi	3/1.0 (+1)	1,280 (-2%)	0mo	$94,500	$74	74
1809 E 32nd St	0.38mi	3/1.5 (+1)	1,280 (-2%)	1mo	$82,000	$64	72
1120 Montpelier St	0.47mi	3/2.0 (+1)	1,260 (-3%)	2mo	$70,000	$56	66
2559 Garrett Ave	0.26mi	3/3.0 (+1)	1,202 (-8%)	2mo	$205,000	$171	65
1841 E 30th St	0.33mi	3/1.5 (+1)	1,400 (+8%)	4mo	$175,000	$125	61
1313 E 35th St	0.60mi	3/2.0 (+1)	1,216 (-6%)	3mo	$260,000	$214	53
831 E 33rd St	0.65mi	3/2.0 (+1)	1,470 (+13%)	2mo	$300,000	$204	41
3035 Frisby St	0.73mi	3/2.5 (+1)	1,456 (+12%)	4mo	$163,000	$112	36

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 · 1.63% rent growth · sell at horizon

5-year hold

• IRR: 18.1%
• Equity multiple: 1.72×
• Total profit: $22,224
• Equity at exit: $16,401

10-year hold

• IRR: 25.6%
• Equity multiple: 3.10×
• Total profit: $64,641
• Equity at exit: $9,511

Cash invested: $30,800 (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 21218

• Rents YoY: 1.6%
• Active inventory: 325
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,682 high
• Mortgage (P&I): −$577
• Tax from tax record: −$41 /mo · $493/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $665

Break-even live

Break-even rent $840

Max offer price $110,000

Occupancy floor 55%

Sensitivity live

Price	-10% $728	-5% $696	+0% $665	+5% $634	+10% $603
Rent	-10% $532	-5% $599	+0% $665	+5% $732	+10% $798
Rate	-1.0pp $721	-0.5pp $693	base $665	+0.5pp $637	+1.0pp $608

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1519 E 28th St Baltimore, MD	3.0	2.0	1100	$1,350	$1.23	44d	1	0.12mi
1539 Abbotston St Baltimore, MD	3.0	2.0	1800	$1,995	$1.11	44d	1	0.12mi
1802 E 28th St Baltimore, MD	3.0	1.0	1300	$1,600	$1.23	24d	1	0.24mi
1832 E 28th St Baltimore, MD	3.0	1.0	1066	$1,495	$1.40	24d	1	0.27mi
2606 Cecil Ave Baltimore, MD	2.0	1.5	1200	$1,500	$1.25	44d	1	0.27mi
1702 E 32nd St Baltimore, MD	3.0	2.0	1344	$2,300	$1.71	44d	1	0.36mi
3213 The Alameda Baltimore, MD	2.0	1.0	1708	$1,295	$0.76	4d	1	0.39mi
1607 Cliftview Ave Baltimore, MD	3.0	1.0	1200	$1,475	$1.23	44d	1	0.49mi
936 Montpelier St Baltimore, MD	2.0	1.0	1260	$1,450	$1.15	24d	1	0.56mi
2125 Cliftwood Ave Baltimore, MD	1.0	2.0	1020	$1,450	$1.42	44d	1	0.67mi
1502 Fernley Rd Baltimore, MD	3.0	2.0	1350	$2,800	$2.07	44d	1	0.68mi
1040 E 33rd St Baltimore, MD	1.0–2.0	1.0–2.0	775	$1,525	$1.97	3d	10	0.69mi
3012 Mathews St Baltimore, MD	2.0	1.0	996	$1,100	$1.10	18d	1	0.73mi
3026 Mathews St Baltimore, MD	2.0	1.0	996	$1,350	$1.36	15d	1	0.73mi
519 E 28th St Baltimore, MD	3.0	2.0	1500	$2,000	$1.33	5d	1	0.75mi
616 Montpelier St Baltimore, MD	3.0	1.0	1150	$1,750	$1.52	11d	1	0.78mi
1803 N Dallas St Baltimore, MD	2.0	2.5	1250	$2,100	$1.68	24d	1	0.79mi
1713 E Lafayette Ave Baltimore, MD	1.0	1.0	1800	$1,200	$0.67	44d	1	0.79mi
1514 E Lafayette Ave Baltimore, MD	3.0	1.5	1215	$2,000	$1.65	24d	1	0.80mi
1512 E Lafayette Ave Baltimore, MD	3.0	2.5	1476	$1,950	$1.32	44d	1	0.80mi
646 Cokesbury Ave Baltimore, MD	2.0	1.5	1200	$1,299	$1.08	44d	1	0.82mi
1504 Upshire Rd Unit 1E Baltimore, MD	2.0	1.0	1000	$1,400	$1.40	44d	1	0.84mi
450 E Lorraine Ave Baltimore, MD	3.0	1.0	1344	$1,695	$1.26	44d	1	0.85mi
1627 Rutland Ave Unit 1 Baltimore, MD	3.0	2.0	1200	$2,350	$1.96	44d	1	0.86mi
1627 Rutland Ave Baltimore, MD	3.0	2.0	1100	$1,950	$1.77	24d	1	0.87mi
436 Ilchester Ave Unit 2 Baltimore, MD	1.0	1.0	985	$1,195	$1.21	44d	1	0.87mi
436 Ilchester Ave Unit 1 Baltimore, MD	2.0	2.0	1002	$1,350	$1.35	44d	1	0.87mi
724 E 35th St Baltimore, MD	3.0	1.5	1368	$2,000	$1.46	15d	1	0.87mi
2113 Belair Rd Baltimore, MD	3.0	1.0	1344	$1,795	$1.34	44d	1	0.87mi
1508 Kennewick Rd Baltimore, MD	1.0	1.0	1660	$1,100	$0.66	44d	1	0.88mi
428 E Lorraine Ave Baltimore, MD	3.0	2.0	1344	$1,875	$1.40	24d	1	0.88mi
428 E Lorraine Ave Unit 1 Baltimore, MD	3.0	1.5	1344	$1,875	$1.40	44d	1	0.88mi
1629 N Wolfe St Baltimore, MD	3.0	3.0	1561	$1,800	$1.15	24d	1	0.89mi
534 E 23rd St Baltimore, MD	3.0	2.5	1700	$2,350	$1.38	44d	1	0.89mi
2311 E Lafayette Ave Baltimore, MD	3.0	1.0	1000	$1,400	$1.40	44d	1	0.91mi
402 E 28th St Baltimore, MD	3.0	1.0	1436	$2,200	$1.53	44d	1	0.91mi
411 E Lorraine Ave Baltimore, MD	3.0	1.5	1344	$2,200	$1.64	24d	1	0.91mi
400 E Lorraine Ave Baltimore, MD	3.0	1.0	1500	$1,800	$1.20	21d	1	0.92mi
721 E 36th St Unit Na Baltimore, MD	2.0	1.0	1156	$1,650	$1.43	44d	1	0.92mi
3213 Elmley Ave Baltimore, MD	2.0	1.0	1188	$1,395	$1.17	44d	1	0.93mi

Listing history 47 events

1. 2026-06-18
   days on market $110,000 Active 43 DOM
2. 2026-06-17
   days on market $110,000 Active 42 DOM
3. 2026-06-16
   days on market $110,000 Active 41 DOM
4. 2026-06-15
   days on market $110,000 Active 40 DOM
5. 2026-06-13
   days on market $110,000 Active 38 DOM
6. 2026-06-09
   days on market $110,000 Active 34 DOM
7. 2026-06-08
   days on market $110,000 Active 33 DOM
8. 2026-06-07
   days on market $110,000 Active 32 DOM
9. 2026-06-04
   days on market $110,000 Active 29 DOM
10. 2026-06-03
    days on market $110,000 Active 28 DOM
11. 2026-06-02
    days on market $110,000 Active 27 DOM
12. 2026-06-01
    days on market $110,000 Active 26 DOM
13. 2026-05-31
    days on market $110,000 Active 25 DOM
14. 2026-05-06
    listed $110,000 Active 1329-char remark
15. 2026-02-27
    historical $1,250
16. 2026-02-20
    listed $1,250
17. 2025-04-30
    historical
18. 2025-04-01
    status Active
19. 2025-03-20
    status Pending
20. 2025-03-19
    historical
21. 2024-12-09
    status Active
22. 2024-12-03
    status Pending
23. 2024-10-16
    listed $135,000 Active
24. 2024-08-31
    historical
25. 2024-05-16
    price $135,000
26. 2024-03-01
    listed $150,000 Active
27. 2024-02-29
    historical
28. 2022-11-25
    historical
29. 2022-11-25
    listed $120,000 Active
30. 2022-11-13
    historical
31. 2014-10-31
    historical
32. 2014-10-24
    soldstatus $7,400 Sold
33. 2014-10-24
    soldstatus $7,400
34. 2014-09-22
    status Contract
35. 2014-09-22
    historical
36. 2014-09-08
    price $8,200
37. 2014-09-04
    status Active
38. 2014-08-21
    status Contract
39. 2014-07-28
    price $8,900
40. 2014-06-25
    listed $10,500 Active
41. 2014-06-25
    listed $8,200
42. 1996-09-26
    historical
43. 1996-03-27
    listed
44. 1994-02-08
    soldstatus $35,489
45. 1992-01-16
    soldstatus $36,706
46. 1991-06-28
    soldstatus $34,706
47. 1990-01-11
    soldstatus $10,000

ⓘ 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: $493 · $41/mo
• Projected year-2 tax: $846 · $71/mo
• Expected delta: +$353/yr (+$29/mo · 71.5%)

ⓘ 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: $20,188
• − Mortgage interest: −$6,162
• − Property taxes: −$493
• − Insurance: −$550
• − Repairs & maintenance: −$1,615
• − Management: −$1,615
• − Depreciation: −$3,200
• Taxable income: $6,553
• Est. tax owed @ 24.0%: −$1,573
• After-tax cash flow: $6,410/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): 44,014
• Household income: $62,488
• Rent vs Own: 51.9% rent · 48.1% own
• Severe rent burden: 2564.0

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 0.58)
• Race & ethnicity: Black 60% White 26% Two or more races 6% Hispanic / Latino 5% Asian 5%
• Common ancestry: Romanian 2% Italian 1% Scotch-Irish 1%
• Foreign-born: 10% · Canada, China, South Korea
• Languages at home: 87% English-only · Spanish 4% French/Haitian/Cajun 2% Chinese 2%

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: ▼ -463.14%
• Current HPI: 292.3986
• Rent YoY: ▲ 1.63%
• 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

+1000.0% since first listed

34 events — show timeline

• 2026-05-06 Listed $110,000 BRIGHT MLS
• 2026-02-27 Rental Removed $1,250 APPFOLIO
• 2026-02-20 Listed for Rent $1,250 APPFOLIO
• 2025-04-30 Listing Removed — BRIGHT MLS
• 2025-04-01 Relisted — BRIGHT MLS
• 2025-03-20 Pending — BRIGHT MLS
• 2025-03-19 Listing Removed — BRIGHT MLS
• 2024-12-09 Relisted — BRIGHT MLS
• 2024-12-03 Pending — BRIGHT MLS
• 2024-10-16 Listed $135,000 BRIGHT MLS
• 2024-08-31 Listing Removed — BRIGHT MLS
• 2024-05-16 Price Changed $135,000 BRIGHT MLS
• 2024-03-01 Listed $150,000 BRIGHT MLS
• 2024-02-29 Coming Soon — BRIGHT MLS
• 2022-11-25 Listing Removed — BRIGHT MLS
• 2022-11-25 Listed $120,000 BRIGHT MLS
• 2022-11-13 Coming Soon — BRIGHT MLS
• 2014-10-31 Delisted — MRIS
• 2014-10-24 Sold (MLS) $7,400 BRIGHT MLS
• 2014-10-24 Sold (MLS) $7,400 MRIS
• 2014-09-22 Pending — MRIS
• 2014-09-22 Listing Removed — BRIGHT MLS
• 2014-09-08 Price Changed $8,200 MRIS
• 2014-09-04 Relisted — MRIS
• 2014-08-21 Pending — MRIS
• 2014-07-28 Price Changed $8,900 MRIS
• 2014-06-25 Listed $10,500 MRIS
• 2014-06-25 Listed $8,200 BRIGHT MLS
• 1996-09-26 Delisted — MRIS
• 1996-03-27 Listed — MRIS
• 1994-02-08 Sold (Public Records) $35,489 Public Records
• 1992-01-16 Sold (Public Records) $36,706 Public Records
• 1991-06-28 Sold (Public Records) $34,706 Public Records
• 1990-01-11 Sold (Public Records) $10,000 Public Records

Property tax history

-1.2%/yr

Latest (2025): $493 · +10.5% YoY. Source: county tax records.