2300 N Fulton Ave Unit B · Baltimore, MD 21217

$30,000

3 bd · 1.0 ba · 1,848 sqft · Townhouse · 1 Days on market

Built 1920

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Attention investors and renovators! This vacant 3-bedroom, 1-bath Baltimore rowhome offers a great opportunity to create value and build equity. Featuring approximately 1,120 square feet, the property is ready for renovation and is being sold as-is.

Key facts

• Built 1920

Property features AI

Exterior

• Utilities: Public water; Public sewer; Public septic listed; Natural gas hot water
• Home design: Interior townhouse/rowhouse; Fee simple ownership
• Construction: Brick construction; Brick/mortar foundation; Above-grade and below-grade structures; Year built source: Assessor
• Exterior features: Tidal water not present

Interior

• Bedrooms: 3 bedrooms on main level
• Bathrooms: 1 full bathroom on main level; 1 full bathroom total
• Heating & cooling: Central heating; Natural gas heating; Electric cooling (other type)
• Interior features: Partially finished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $30k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $30k).
• Cap rate 56.8% 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 (+6.6%/yr); 334 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $1,861/mo this rent would consume 58% of the median local household income ($38k/yr) (locally 2921% 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 $207 of loan paydown is wiped out by about $900 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 + 6.6% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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.

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 $30,000

Questions for the listing agent

1. Built in 1920 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 6.20% ✓
• Cap rate: 56.79%
• Cash-on-cash: 180.36%
• DSCR: 9.02
• GRM: 1.3

CMA / ARV

• ARV (on-the-fly): $210,672
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2400 Reisterstown Rd	0.26mi	3/2.0	1,752 (-5%)	5mo	$75,000	$43	72
2105 Whittier Ave	0.25mi	3/1.5	1,587 (-14%)	1mo	$80,000	$50	62
608 Cumberland St	0.41mi	3/2.0	1,700 (-8%)	2mo	$90,000	$53	61
2402 Liberty Heights Ave	0.56mi	4/1.5 (+1)	1,800 (-3%)	4mo	$90,000	$50	60
2500 Brookfield Ave	0.58mi	3/3.0	1,786 (-3%)	1mo	$365,000	$204	59
2117 N Smallwood St	0.44mi	3/2.5	1,680 (-9%)	1mo	$192,000	$114	58
2521 Reisterstown Rd	0.38mi	3/2.0	1,578 (-15%)	3mo	$215,000	$136	52
1520 Appleton St	0.64mi	3/3.5	1,920 (+4%)	4mo	$215,000	$112	50
1920 N Bentalou St	0.57mi	4/3.5 (+1)	1,928 (+4%)	1mo	$255,000	$132	50
1501 N Payson St N	0.68mi	4/2.0 (+1)	2,000 (+8%)	4mo	$162,000	$81	42
801 Druid Park Lake Dr	0.60mi	4/3.5 (+1)	2,013 (+9%)	1mo	$451,500	$224	41
2009 Ruxton Ave	0.58mi	4/2.0 (+1)	1,600 (-13%)	1mo	$234,000	$146	41

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 · 6.63% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 10.84×
• Total profit: $82,619
• Equity at exit: $4,473

10-year hold

• IRR: —
• Equity multiple: 25.61×
• Total profit: $206,740
• Equity at exit: $2,594

Cash invested: $8,400 (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 21217

• Rents YoY: 6.6%
• Active inventory: 334
• Price-to-rent: 1.3×

Monthly cashflow live

• Estimated rent: $1,861 high
• Mortgage (P&I): −$157
• Tax est. 1.5%: −$38 /mo · $450/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$391
• Net cashflow: $1,262

Break-even live

Break-even rent $262

Max offer price $30,000

Occupancy floor 27%

Sensitivity live

Price	-10% $1,283	-5% $1,273	+0% $1,262	+5% $1,252	+10% $1,242
Rent	-10% $1,116	-5% $1,189	+0% $1,262	+5% $1,336	+10% $1,409
Rate	-1.0pp $1,278	-0.5pp $1,270	base $1,262	+0.5pp $1,255	+1.0pp $1,247

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2201 Whittier Ave Baltimore, MD	4.0	2.0	1750	$1,700	$0.97	44d	1	0.19mi
2201 Whittier Ave Baltimore, MD	4.0	2.0	1750	$1,700	$0.97	18d	1	0.19mi
2505 Woodbrook Ave Baltimore, MD	4.0	2.0	1256	$1,745	$1.39	3d	1	0.20mi
2614 Pennsylvania Ave Baltimore, MD	1.0–3.0	1.0–2.0	982	$1,141	$1.16	5d	4	0.25mi
2409 Francis St Baltimore, MD	3.0	1.0	1298	$1,500	$1.16	44d	1	0.34mi
2128 N Pulaski St Baltimore, MD	4.0	3.0	2166	$2,200	$1.02	44d	1	0.39mi
519 Sanford Pl Baltimore, MD	3.0	1.0	1300	$1,650	$1.27	17d	1	0.47mi
1205 Clendenin St Baltimore, MD	3.0	1.5	1560	$800	$0.51	25d	1	0.47mi
2204 Clifton Ave Baltimore, MD	3.0	1.0	1400	$1,450	$1.04	5d	1	0.50mi
2339 Eutaw Pl Ste 1 Baltimore, MD	2.0	1.0	1300	$1,275	$0.98	44d	1	0.51mi
1616 N Fulton Ave Baltimore, MD	3.0	2.0	1620	$1,795	$1.11	5d	1	0.55mi
805 Brooks Ln #2 Baltimore, MD	2.0	1.0	2120	$1,500	$0.71	4d	1	0.58mi
2407 Brookfield Ave Unit 4 Baltimore, MD	2.0	2.0	1300	$1,550	$1.19	44d	1	0.61mi
1516 N Mount St Baltimore, MD	3.0	1.5	1830	$1,750	$0.96	15d	1	0.62mi
1816 N Bentalou St Baltimore, MD	3.0	2.0	1350	$1,700	$1.26	12d	1	0.65mi
1816 N Bentalou St Baltimore, MD	3.0	2.0	1350	$1,700	$1.26	25d	1	0.65mi
2028 Druid Hill Ave Unit 1 Baltimore, MD	3.0	2.5	1437	$1,750	$1.22	3d	1	0.68mi
2028 Druid Hill Ave Baltimore, MD	3.0	2.5	1437	$1,799	$1.25	12d	1	0.68mi
2020 McCulloh St Unit 2 Baltimore, MD	2.0	2.0	2440	$1,950	$0.80	44d	1	0.69mi
2020 McCulloh St Unit 1 Baltimore, MD	2.0	2.0	2440	$1,650	$0.68	44d	1	0.69mi
1501 N Payson St Baltimore, MD	3.0	1.0	1400	$1,550	$1.11	44d	1	0.71mi
1315 Presstman St Baltimore, MD	4.0	2.0	1700	$2,000	$1.18	44d	1	0.72mi
2405 W North Ave Baltimore, MD	4.0	3.0	1826	$1,900	$1.04	5d	1	0.72mi
1617-A Moreland Ave Unit 2nd Flr Baltimore, MD	2.0	1.0	1500	$1,400	$0.93	44d	1	0.77mi
3104 Tioga Pkwy Baltimore, MD	3.0	2.0	1640	$2,050	$1.25	23d	1	0.78mi
2305 Wichita Ave Unit 1 Baltimore, MD	3.0	1.0	1950	$1,300	$0.67	25d	1	0.78mi
815 Lennox St Baltimore, MD	3.0	3.5	1600	$2,790	$1.74	25d	1	0.81mi
2302 Mount Royal Ter Baltimore, MD	4.0	3.5	2351	$3,000	$1.28	25d	1	0.84mi
1829 Eutaw Pl Unit B Baltimore, MD	2.0	2.0	1278	$2,100	$1.64	5d	1	0.85mi
736 Watts St Baltimore, MD	3.0	3.5	2000	$3,250	$1.62	44d	1	0.88mi
734 Watts St Baltimore, MD	3.0	3.5	1720	$2,900	$1.69	44d	1	0.89mi
1725 Druid Hill Ave Baltimore, MD	4.0	3.0	2195	$2,100	$0.96	25d	1	0.92mi
3000 Falls Rd Baltimore, MD	2.0	1.0	1646	$2,499	$1.52	2d	1	0.95mi
1702 Eutaw Pl Baltimore, MD	2.0	2.0	2000	$1,550	$0.78	18d	1	0.96mi
1628 McCulloh St Unit 2 Baltimore, MD	4.0	2.5	2000	$2,000	$1.00	5d	1	0.97mi
1613 Riggs Ave Baltimore, MD	3.0	2.5	1800	$1,800	$1.00	25d	1	0.98mi
3534 Poole St Unit 1 Baltimore, MD	3.0	2.0	1450	$2,600	$1.79	25d	1	1.05mi
2812 Clifton Ave Baltimore, MD	3.0	1.5	1650	$1,850	$1.12	44d	1	1.08mi
549 Mosher St Baltimore, MD	3.0	1.0	2200	$1,350	$0.61	44d	1	1.12mi
2917 Clifton Ave Baltimore, MD	4.0	4.0	1700	$2,150	$1.26	25d	1	1.18mi

Listing history 2 events

1. 2026-06-15
   remarks 249-char remark
2. 2026-06-15
   listed $30,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 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: $22,326
• − Mortgage interest: −$1,680
• − Property taxes: −$450
• − Insurance: −$150
• − Repairs & maintenance: −$1,786
• − Management: −$1,786
• − Depreciation: −$873
• Taxable income: $15,601
• Est. tax owed @ 24.0%: −$3,744
• After-tax cash flow: $11,406/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): 30,792
• Household income: $38,409
• Rent vs Own: 70.0% rent · 30.0% own
• Severe rent burden: 2921.0

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: Predominantly Black (81%)
• Race & ethnicity: Black 81% White 12% Two or more races 4% Hispanic / Latino 2% Asian 2%
• Common ancestry: Romanian 1% Hispanic 1% Italian 1%
• Foreign-born: 5% · Canada, China, South Korea
• Languages at home: 94% English-only · Spanish 2% French/Haitian/Cajun 1% 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: ▼ -187.20%
• Current HPI: 104.2102
• Rent YoY: ▲ 6.63%
• 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

+2900.0% since first listed

5 events — show timeline

• 2026-06-15 Listed $30,000 BRIGHT MLS
• 2025-11-01 Rental Removed $1,000 RENTLY
• 2025-09-07 Listed for Rent $1,000 RENTLY
• 2025-08-20 Rental Removed $1,000 BRIGHTMLS
• 2025-07-24 Listed for Rent $1,000 BRIGHTMLS