2453 Washington Blvd · Baltimore, MD 21230

$140,000

4 bd · 1.0 ba · 1,100 sqft · Townhouse public records · 160 Days on market

Built 1926 1,250 sqft lot $127/sqft · 26% above area Est $111k · 26% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Schools +1.0/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

New Center air, lead free! 3 bed rooms 2 full bath, 2 parking space at the backyard, new floor.

Key facts

• 2 parking spots
• Built 1926
• Listed 160 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath townhouse listed at $140k.

Deal economics

• At list price, monthly cash flow is $735 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.6% 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; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $968 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 + 0.0% rent growth), your $39k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 160 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 33y ago; this cycle's ask has dropped $20k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; list at $140k implies a 155% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — 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 $123,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 160 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1926 — 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: 1.45% ✓
• Cap rate: 12.59%
• Cash-on-cash: 22.50%
• DSCR: 2.00
• GRM: 5.7

CMA / ARV

• ARV (median comp): $111,109
• List price: $140,000
• Delta: 26.00%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1935 Grinnalds Ave	0.08mi	3/2.0 (-1)	1,080 (-2%)	1mo	$119,000	$110	84
1919 Grinnalds Ave	0.06mi	3/1.0 (-1)	1,080 (-2%)	7mo	$130,000	$120	84
2809 Washington Blvd	0.34mi	3/1.0 (-1)	1,110 (+1%)	3mo	$80,000	$72	75
2036 Deering Ave	0.34mi	3/1.5 (-1)	1,112 (+1%)	3mo	$129,900	$117	73
1926 Griffis Ave	0.09mi	3/1.0 (-1)	1,016 (-8%)	14mo	$95,000	$94	67
2521 S Paca St	0.46mi	3/1.5 (-1)	1,152 (+5%)	1mo	$30,000	$26	63
1710 Wickes Ave	0.31mi	3/2.0 (-1)	1,024 (-7%)	3mo	$150,000	$146	62
2012 Griffis Ave	0.12mi	3/1.5 (-1)	1,242 (+13%)	7mo	$107,000	$86	60
2439 Ridgely St	0.51mi	4/2.5	1,152 (+5%)	4mo	$222,000	$193	59
2000 Hollins Ferry Rd	0.29mi	3/1.5 (-1)	1,248 (+14%)	1mo	$135,000	$108	56
2512 Ridgely St	0.48mi	3/1.5 (-1)	1,152 (+5%)	10mo	$145,000	$126	55
1810 Spence St	0.13mi	3/2.5 (-1)	1,260 (+14%)	12mo	$83,400	$66	49

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: 12.1%
• Equity multiple: 1.46×
• Total profit: $18,151
• Equity at exit: $20,874

10-year hold

• IRR: 18.7%
• Equity multiple: 2.35×
• Total profit: $52,969
• Equity at exit: $12,105

Cash invested: $39,200 (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 21230

• Rents YoY: -1.0%
• Active inventory: 362
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $2,031 high
• Mortgage (P&I): −$734
• Tax from tax record: −$77 /mo · $924/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$427
• Net cashflow: $735

Break-even live

Break-even rent $1,101

Max offer price $140,000

Occupancy floor 59%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2056 Griffis Ave Baltimore, MD	3.0	1.5	1230	$1,495	$1.22	21d	1	0.19mi
3004 Elizabeth Ave Unit 1 Baltimore, MD	3.0	1.0	1024	$1,395	$1.36	4d	1	0.80mi
3017 Janice Ave Baltimore, MD	3.0	1.0	1024	$1,995	$1.95	23d	1	0.81mi
2737 Wilkens Ave Baltimore, MD	3.0	1.5	1232	$1,650	$1.34	4d	1	0.83mi
2738 Wilkens Ave Baltimore, MD	3.0	1.0	1183	$1,500	$1.27	43d	1	0.86mi
2514 Wilkens Ave Baltimore, MD	4.0	1.0	1344	$1,800	$1.34	10d	1	0.88mi
2514 Wilkens Ave Baltimore, MD	4.0	1.0	1344	$1,800	$1.34	43d	1	0.88mi
2509 Christian St Baltimore, MD	4.0	2.0	1248	$1,699	$1.36	3d	1	0.90mi
514 S Payson St Unit 2 Baltimore, MD	3.0	2.0	1264	$1,750	$1.38	43d	1	0.99mi
2200 W Patapsco Ave Baltimore, MD	3.0	1.0	890	$1,569	$1.76	43d	1	1.10mi
2540 Frederick Ave Baltimore, MD	3.0	1.0	1075	$1,400	$1.30	23d	1	1.13mi
311 S Pulaski St Baltimore, MD	5.0	3.0	1450	$2,400	$1.66	43d	1	1.16mi
311 S Pulaski St Baltimore, MD	5.0	3.0	1450	$2,400	$1.66	3d	1	1.16mi
3130 Stafford St Baltimore, MD	3.0	1.0	1200	$1,500	$1.25	20d	1	1.26mi
1127 S Carey St Baltimore, MD	3.0	2.5	1340	$1,900	$1.42	4d	1	1.31mi
1259 Washington Blvd Baltimore, MD	3.0	3.0	1232	$2,999	$2.43	4d	1	1.32mi
1243 Washington Blvd Baltimore, MD	3.0	2.0	1148	$1,950	$1.70	43d	1	1.34mi
2537 Hollins St Baltimore, MD	3.0	2.0	1200	$1,450	$1.21	23d	1	1.38mi
2516 Hollins St Baltimore, MD	3.0	2.0	1100	$1,700	$1.55	43d	1	1.40mi
2225 W Baltimore St Baltimore, MD	3.0	2.5	1200	$1,600	$1.33	23d	1	1.43mi
2232 W Baltimore St Baltimore, MD	3.0	1.0	1250	$1,875	$1.50	23d	1	1.46mi
1142 Sargeant St Baltimore, MD	3.0	2.0	1080	$1,601	$1.48	1d	1	1.46mi
1125 Washington Blvd Baltimore, MD	4.0	2.5	1200	$2,750	$2.29	17d	1	1.46mi
1918 W Baltimore St Baltimore, MD	2.0–3.0	1.0–2.0	857	$1,434	$1.67	43d	1	1.49mi
1125 Wicomico St Baltimore, MD	3.0	3.0	1068	$1,955	$1.83	23d	1	1.50mi

Listing history 48 events

1. 2026-06-18
   days on market $140,000 Active 160 DOM
2. 2026-06-17
   days on market $140,000 Active 159 DOM
3. 2026-06-16
   days on market $140,000 Active 158 DOM
4. 2026-06-15
   days on market $140,000 Active 157 DOM
5. 2026-06-13
   days on market $140,000 Active 155 DOM
6. 2026-06-09
   days on market $140,000 Active 151 DOM
7. 2026-06-08
   days on market $140,000 Active 150 DOM
8. 2026-06-07
   days on market $140,000 Active 149 DOM
9. 2026-06-04
   days on market $140,000 Active 146 DOM
10. 2026-06-03
    days on market $140,000 Active 145 DOM
11. 2026-06-02
    days on market $140,000 Active 144 DOM
12. 2026-06-01
    days on market $140,000 Active 143 DOM
13. 2026-05-31
    days on market $140,000 Active 142 DOM
14. 2026-04-17
    price $140,000 97-char remark

    Show marketing remark (97 chars)

    New Center air, lead free! 3 bed rooms 2 full bath, 2 parking space at the backyard, new floor.

15. 2026-02-24
    price $145,000 97-char remark

    Show marketing remark (97 chars)

    New Center air, lead free! 3 bed rooms 2 full bath, 2 parking space at the backyard, new floor.

16. 2026-02-24
    price $150,000 97-char remark

    Show marketing remark (97 chars)

    New Center air, lead free! 3 bed rooms 2 full bath, 2 parking space at the backyard, new floor.

17. 2026-01-09
    listed $160,000 Active 97-char remark

    Show marketing remark (97 chars)

    New Center air, lead free! 3 bed rooms 2 full bath, 2 parking space at the backyard, new floor.

18. 2020-07-02
    soldstatus $55,000
19. 2020-04-23
    soldstatus $55,000 Closed 589-char remark

    Show marketing remark (589 chars)

    PUBLIC SIMULCAST AUCTION - ON-SITE/ONLINE AUCTION: Mon Mar 16 @ 11:00AM EDT. Listing price is suggested starting bid. 2 story recently renovated porch-front townhome located in the Morrell Park area. In close proximity to Morrell Park & Carroll Park Golf Course. Easy access to major traffic artery I-95. Property is believed to contain 2 bedrooms and 1.5 bathrooms. Renovated in 2018: Renovated features include heating and air-conditioning, water heater, and electric. 10% Buyer's Premium will be added to the high bid. 2.5% Broker Co-Op. Call office for full terms and conditions.

20. 2020-03-17
    status Pending 589-char remark

    Show marketing remark (589 chars)

    PUBLIC SIMULCAST AUCTION - ON-SITE/ONLINE AUCTION: Mon Mar 16 @ 11:00AM EDT. Listing price is suggested starting bid. 2 story recently renovated porch-front townhome located in the Morrell Park area. In close proximity to Morrell Park & Carroll Park Golf Course. Easy access to major traffic artery I-95. Property is believed to contain 2 bedrooms and 1.5 bathrooms. Renovated in 2018: Renovated features include heating and air-conditioning, water heater, and electric. 10% Buyer's Premium will be added to the high bid. 2.5% Broker Co-Op. Call office for full terms and conditions.

21. 2020-02-26
    listed $20,000 Active 589-char remark

    Show marketing remark (589 chars)

    PUBLIC SIMULCAST AUCTION - ON-SITE/ONLINE AUCTION: Mon Mar 16 @ 11:00AM EDT. Listing price is suggested starting bid. 2 story recently renovated porch-front townhome located in the Morrell Park area. In close proximity to Morrell Park & Carroll Park Golf Course. Easy access to major traffic artery I-95. Property is believed to contain 2 bedrooms and 1.5 bathrooms. Renovated in 2018: Renovated features include heating and air-conditioning, water heater, and electric. 10% Buyer's Premium will be added to the high bid. 2.5% Broker Co-Op. Call office for full terms and conditions.

22. 2016-06-13
    historical
23. 2016-06-13
    historical
24. 2016-05-25
    listed Active
25. 2016-05-24
    listed $35,200
26. 2008-11-14
    soldstatus $95,990
27. 2008-10-23
    soldstatus $95,990 Sold
28. 2008-09-24
    historical
29. 2008-09-04
    status
30. 2008-08-06
    historical
31. 2008-06-05
    status
32. 2008-06-01
    historical
33. 2008-05-12
    price $91,990
34. 2008-04-17
    status
35. 2008-04-01
    historical
36. 2008-03-17
    status
37. 2008-03-05
    historical
38. 2008-01-31
    price $96,990
39. 2007-12-04
    listed $107,500
40. 2005-12-28
    soldstatus $85,000
41. 2005-12-09
    soldstatus $85,000
42. 2005-11-09
    historical
43. 2005-07-28
    listed $84,900
44. 2005-04-05
    historical
45. 2004-09-23
    listed
46. 1994-05-04
    historical
47. 1993-11-04
    listed
48. 1986-11-03
    soldstatus $41,000

ⓘ 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: $924 · $77/mo
• Projected year-2 tax: $1,225 · $102/mo
• Expected delta: +$301/yr (+$25/mo · 32.6%)

ⓘ 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,374
• − Mortgage interest: −$7,842
• − Property taxes: −$924
• − Insurance: −$700
• − Repairs & maintenance: −$1,950
• − Management: −$1,950
• − Depreciation: −$4,073
• Taxable income: $6,935
• Est. tax owed @ 24.0%: −$1,664
• After-tax cash flow: $7,157/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

+241.5% since first listed

35 events — show timeline

• 2026-04-17 Price Changed $140,000 BRIGHT MLS
• 2026-02-24 Price Changed $145,000 BRIGHT MLS
• 2026-02-24 Price Changed $150,000 BRIGHT MLS
• 2026-01-09 Listed $160,000 BRIGHT MLS
• 2020-07-02 Sold (Public Records) $55,000 Public Records
• 2020-04-23 Sold (MLS) $55,000 BRIGHT MLS
• 2020-03-17 Pending — BRIGHT MLS
• 2020-02-26 Listed $20,000 BRIGHT MLS
• 2016-06-13 Delisted — MRIS
• 2016-06-13 Listing Removed — BRIGHT MLS
• 2016-05-25 Listed — MRIS
• 2016-05-24 Listed $35,200 BRIGHT MLS
• 2008-11-14 Sold (Public Records) $95,990 Public Records
• 2008-10-23 Sold (MLS) $95,990 MRIS
• 2008-09-24 Delisted — MRIS
• 2008-09-04 Relisted — MRIS
• 2008-08-06 Delisted — MRIS
• 2008-06-05 Relisted — MRIS
• 2008-06-01 Delisted — MRIS
• 2008-05-12 Price Changed $91,990 MRIS
• 2008-04-17 Relisted — MRIS
• 2008-04-01 Delisted — MRIS
• 2008-03-17 Relisted — MRIS
• 2008-03-05 Delisted — MRIS
• 2008-01-31 Price Changed $96,990 MRIS
• 2007-12-04 Listed $107,500 MRIS
• 2005-12-28 Sold (Public Records) $85,000 Public Records
• 2005-12-09 Sold (MLS) $85,000 MRIS
• 2005-11-09 Delisted — MRIS
• 2005-07-28 Listed $84,900 MRIS
• 2005-04-05 Delisted — MRIS
• 2004-09-23 Listed — MRIS
• 1994-05-04 Delisted — MRIS
• 1993-11-04 Listed — MRIS
• 1986-11-03 Sold (Public Records) $41,000 Public Records

Property tax history

-4.1%/yr

Latest (2025): $924 · +1.7% YoY. Source: county tax records.