1527 Riggs Ave · Baltimore, MD 21217

$109,900

4 bd · 2.0 ba · 1,875 sqft · Townhouse public records · 255 Days on market

Built 1910 3,920 sqft lot $59/sqft · 28% below area Est $153k · 28% 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
• 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 MLS

* * * Property falls within the $15,000 BUY BACK THE BLOCK Baltimore City Program * * * Spacious 3-leve townhome offers plenty of living space with updated flooring throughout, recently painted, newer kitchen, new appliances, newer water heater, updated bathrooms with full size vanity and medicine cabinets, recessed lights, and double pane vinyl windows throughout. Within 4 minutes from West Baltimore MARC Station, this area is experiencing ongoing revitalization, within walking distance from public transportation and short commute to Baltimore Downtown. The property also offers a rear patio with the option to create a parking space or a BBQ area.

Key facts

• Updated bathrooms
• Updated flooring
• Updated kitchen

Tags

• UPDATED FLOORING
• UPDATED KITCHEN
• UPDATED BATHROOMS
• FULL SIZE VANITY
• MEDICINE CABINETS
• RECESSED LIGHTS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath townhouse listed at $110k.

Deal economics

• At list price, monthly cash flow is $954 ($11k/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: $97k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.7% 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); 331 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $2,030/mo this rent would consume 63% 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 $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 + 6.6% rent growth), your $31k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 255 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $25k; list at $110k implies a 340% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — 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 $96,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 255 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 1910 — 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: 1.85% ✓
• Cap rate: 16.71%
• Cash-on-cash: 37.21%
• DSCR: 2.66
• GRM: 4.5

CMA / ARV

• ARV (median comp): $152,762
• List price: $109,900
• Delta: -28.06%
• 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
2318 W Lanvale St	0.68mi	4/2.5	1,884 (+0%)	2mo	$180,000	$96	64
1501 N Payson St N	0.47mi	4/2.0	2,000 (+7%)	4mo	$162,000	$81	63
754 Dolphin St	0.58mi	5/2.0 (+1)	1,842 (-2%)	3mo	$164,000	$89	62
1520 Appleton St	0.48mi	3/3.5 (-1)	1,920 (+2%)	4mo	$215,000	$112	59
536 Laurens St	0.53mi	3/3.0 (-1)	1,768 (-6%)	0mo	$250,000	$141	56
608 Cumberland St	0.56mi	3/2.0 (-1)	1,700 (-9%)	2mo	$90,000	$53	51
1626 N Smallwood St	0.69mi	5/3.0 (+1)	1,770 (-6%)	2mo	$238,000	$134	47
1336 Division St	0.65mi	3/3.0 (-1)	2,002 (+7%)	3mo	$342,800	$171	47
1013 Harlem Ave	0.51mi	5/3.5 (+1)	2,117 (+13%)	4mo	$170,000	$80	40
1340 Division St	0.65mi	3/3.0 (-1)	2,098 (+12%)	2mo	$290,520	$138	39
1342 Division St	0.65mi	3/3.0 (-1)	2,098 (+12%)	3mo	$315,000	$150	39
1344 Division St	0.65mi	5/3.5 (+1)	2,098 (+12%)	4mo	$49,500	$24	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 · 6.63% rent growth · sell at horizon

5-year hold

• IRR: 36.9%
• Equity multiple: 2.64×
• Total profit: $50,619
• Equity at exit: $16,386

10-year hold

• IRR: 45.2%
• Equity multiple: 6.08×
• Total profit: $156,177
• 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 21217

• Rents YoY: 6.6%
• Active inventory: 331
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $2,030 high
• Mortgage (P&I): −$576
• Tax from tax record: −$28 /mo · $331/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$426
• Net cashflow: $954

Break-even live

Break-even rent $822

Max offer price $109,900

Occupancy floor 48%

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
1613 Riggs Ave Baltimore, MD	3.0	2.5	1800	$1,800	$1.00	23d	1	0.04mi
1315 Presstman St Baltimore, MD	4.0	2.0	1700	$2,000	$1.18	43d	1	0.34mi
1516 N Mount St Baltimore, MD	3.0	1.5	1830	$1,750	$0.96	14d	1	0.36mi
1509 Edmondson Ave #1 Baltimore, MD	3.0	2.0	1600	$2,275	$1.42	23d	1	0.40mi
1625 Edmondson Ave Unit 1 Baltimore, MD	4.0	3.0	1500	$2,175	$1.45	4d	1	0.41mi
1625 Edmondson Ave Unit 2 Baltimore, MD	4.0	3.0	1500	$1,895	$1.26	12d	1	0.41mi
1501 N Payson St Baltimore, MD	3.0	1.0	1400	$1,550	$1.11	43d	1	0.45mi
1616 N Fulton Ave Baltimore, MD	3.0	2.0	1620	$1,795	$1.11	4d	1	0.46mi
519 Sanford Pl Baltimore, MD	3.0	1.0	1300	$1,650	$1.27	16d	1	0.59mi
918 N Bentalou St Baltimore, MD	3.0	1.5	1485	$1,750	$1.18	43d	1	0.59mi
2028 Druid Hill Ave Baltimore, MD	3.0	2.5	1437	$1,799	$1.25	10d	1	0.60mi
2028 Druid Hill Ave Unit 1 Baltimore, MD	3.0	2.5	1437	$1,750	$1.22	2d	1	0.60mi
549 Mosher St Baltimore, MD	3.0	1.0	2200	$1,350	$0.61	43d	1	0.60mi
1032 W Franklin St Baltimore, MD	4.0	4.5	1913	$2,650	$1.39	23d	1	0.62mi
1725 Druid Hill Ave Baltimore, MD	4.0	3.0	2195	$2,100	$0.96	23d	1	0.63mi
2303 Calverton Heights Ave Baltimore, MD	4.0	2.0	1314	$2,250	$1.71	23d	1	0.63mi
1628 McCulloh St Unit 2 Baltimore, MD	4.0	2.5	2000	$2,000	$1.00	4d	1	0.68mi
1814 Penrose Ave Baltimore, MD	3.0	1.0	1624	$1,700	$1.05	17d	1	0.68mi
2012 W Saratoga St Baltimore, MD	3.0	1.0	1300	$1,700	$1.31	23d	1	0.70mi
2614 Pennsylvania Ave Baltimore, MD	1.0–3.0	1.0–2.0	982	$1,141	$1.16	4d	4	0.72mi
1205 Clendenin St Baltimore, MD	3.0	1.5	1560	$800	$0.51	23d	1	0.72mi
2409 Francis St Baltimore, MD	3.0	1.0	1298	$1,500	$1.16	43d	1	0.75mi
2505 Woodbrook Ave Baltimore, MD	4.0	2.0	1256	$1,745	$1.39	2d	1	0.79mi
1816 N Bentalou St Baltimore, MD	3.0	2.0	1350	$1,700	$1.26	23d	1	0.82mi
1816 N Bentalou St Baltimore, MD	3.0	2.0	1350	$1,700	$1.26	10d	1	0.82mi
1839 W Fayette St Baltimore, MD	3.0	1.5	1426	$1,675	$1.17	23d	1	0.83mi
101 N Schroeder St Baltimore, MD	3.0	1.0–2.0	1037	$3,185	$3.07	2d	12	0.90mi
2401 W North Ave Baltimore, MD	5.0	2.0	2037	$1,800	$0.88	4d	1	0.90mi
2405 W North Ave Baltimore, MD	4.0	3.0	1826	$1,900	$1.04	4d	1	0.91mi
2128 N Pulaski St Baltimore, MD	4.0	3.0	2166	$2,200	$1.02	43d	1	0.93mi
2204 Clifton Ave Baltimore, MD	3.0	1.0	1400	$1,450	$1.04	4d	1	0.94mi
39 N Bentalou St Baltimore, MD	3.0	2.5	1844	$1,700	$0.92	3d	1	0.98mi
815 Lennox St Baltimore, MD	3.0	3.5	1600	$2,790	$1.74	23d	1	0.99mi
1328 W Lombard St Baltimore, MD	3.0	3.5	2312	$3,600	$1.56	12d	1	1.01mi
2232 W Baltimore St Baltimore, MD	3.0	1.0	1250	$1,875	$1.50	23d	1	1.02mi
2609 Lauretta Ave Baltimore, MD	3.0	1.0	1286	$1,675	$1.30	23d	1	1.03mi
1000 Hollins St Unit 1000 Hollins Baltimore, MD	3.0	2.5	1472	$2,600	$1.77	44d	1	1.03mi
736 Watts St Baltimore, MD	3.0	3.5	2000	$3,250	$1.62	43d	1	1.03mi
734 Watts St Baltimore, MD	3.0	3.5	1720	$2,900	$1.69	43d	1	1.03mi
1138 W Lombard St Baltimore, MD	3.0	3.5	2400	$1,795	$0.75	23d	1	1.05mi

Listing history 21 events

1. 2026-06-18
   days on market $109,900 Active 255 DOM
2. 2026-06-17
   days on market $109,900 Active 254 DOM
3. 2026-06-16
   days on market $109,900 Active 253 DOM
4. 2026-06-15
   days on market $109,900 Active 252 DOM
5. 2026-06-13
   days on market $109,900 Active 250 DOM
6. 2026-06-09
   days on market $109,900 Active 246 DOM
7. 2026-06-08
   days on market $109,900 Active 245 DOM
8. 2026-06-07
   days on market $109,900 Active 244 DOM
9. 2026-06-04
   days on market $109,900 Active 241 DOM
10. 2026-06-03
    days on market $109,900 Active 240 DOM
11. 2026-06-02
    days on market $109,900 Active 239 DOM
12. 2026-06-01
    days on market $109,900 Active 238 DOM
13. 2026-05-31
    days on market $109,900 Active 237 DOM
14. 2026-03-20
    price $109,900 660-char remark

    Show marketing remark (660 chars)

    * * * Property falls within the $15,000 BUY BACK THE BLOCK Baltimore City Program * * * Spacious 3-leve townhome offers plenty of living space with updated flooring throughout, recently painted, newer kitchen, new appliances, newer water heater, updated bathrooms with full size vanity and medicine cabinets, recessed lights, and double pane vinyl windows throughout. Within 4 minutes from West Baltimore MARC Station, this area is experiencing ongoing revitalization, within walking distance from public transportation and short commute to Baltimore Downtown. The property also offers a rear patio with the option to create a parking space or a BBQ area.

15. 2026-01-07
    price $114,900 660-char remark

    Show marketing remark (660 chars)

    * * * Property falls within the $15,000 BUY BACK THE BLOCK Baltimore City Program * * * Spacious 3-leve townhome offers plenty of living space with updated flooring throughout, recently painted, newer kitchen, new appliances, newer water heater, updated bathrooms with full size vanity and medicine cabinets, recessed lights, and double pane vinyl windows throughout. Within 4 minutes from West Baltimore MARC Station, this area is experiencing ongoing revitalization, within walking distance from public transportation and short commute to Baltimore Downtown. The property also offers a rear patio with the option to create a parking space or a BBQ area.

16. 2025-11-19
    price $129,900 660-char remark

    Show marketing remark (660 chars)

    * * * Property falls within the $15,000 BUY BACK THE BLOCK Baltimore City Program * * * Spacious 3-leve townhome offers plenty of living space with updated flooring throughout, recently painted, newer kitchen, new appliances, newer water heater, updated bathrooms with full size vanity and medicine cabinets, recessed lights, and double pane vinyl windows throughout. Within 4 minutes from West Baltimore MARC Station, this area is experiencing ongoing revitalization, within walking distance from public transportation and short commute to Baltimore Downtown. The property also offers a rear patio with the option to create a parking space or a BBQ area.

17. 2025-11-03
    price $139,900 660-char remark

    Show marketing remark (660 chars)

    * * * Property falls within the $15,000 BUY BACK THE BLOCK Baltimore City Program * * * Spacious 3-leve townhome offers plenty of living space with updated flooring throughout, recently painted, newer kitchen, new appliances, newer water heater, updated bathrooms with full size vanity and medicine cabinets, recessed lights, and double pane vinyl windows throughout. Within 4 minutes from West Baltimore MARC Station, this area is experiencing ongoing revitalization, within walking distance from public transportation and short commute to Baltimore Downtown. The property also offers a rear patio with the option to create a parking space or a BBQ area.

18. 2025-10-23
    price $140,000 660-char remark

    Show marketing remark (660 chars)

    * * * Property falls within the $15,000 BUY BACK THE BLOCK Baltimore City Program * * * Spacious 3-leve townhome offers plenty of living space with updated flooring throughout, recently painted, newer kitchen, new appliances, newer water heater, updated bathrooms with full size vanity and medicine cabinets, recessed lights, and double pane vinyl windows throughout. Within 4 minutes from West Baltimore MARC Station, this area is experiencing ongoing revitalization, within walking distance from public transportation and short commute to Baltimore Downtown. The property also offers a rear patio with the option to create a parking space or a BBQ area.

19. 2025-10-06
    listed $150,000 Active 660-char remark

    Show marketing remark (660 chars)

    * * * Property falls within the $15,000 BUY BACK THE BLOCK Baltimore City Program * * * Spacious 3-leve townhome offers plenty of living space with updated flooring throughout, recently painted, newer kitchen, new appliances, newer water heater, updated bathrooms with full size vanity and medicine cabinets, recessed lights, and double pane vinyl windows throughout. Within 4 minutes from West Baltimore MARC Station, this area is experiencing ongoing revitalization, within walking distance from public transportation and short commute to Baltimore Downtown. The property also offers a rear patio with the option to create a parking space or a BBQ area.

20. 2021-07-01
    soldstatus $25,000
21. 2008-01-17
    soldstatus $26,250

ⓘ 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: $331 · $28/mo
• Projected year-2 tax: $765 · $64/mo
• Expected delta: +$433/yr (+$36/mo · 130.9%)

ⓘ 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 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: $24,364
• − Mortgage interest: −$6,156
• − Property taxes: −$331
• − Insurance: −$550
• − Repairs & maintenance: −$1,949
• − Management: −$1,949
• − Depreciation: −$3,197
• Taxable income: $10,232
• Est. tax owed @ 24.0%: −$2,456
• After-tax cash flow: $8,996/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

+318.7% since first listed

8 events — show timeline

• 2026-03-20 Price Changed $109,900 BRIGHT MLS
• 2026-01-07 Price Changed $114,900 BRIGHT MLS
• 2025-11-19 Price Changed $129,900 BRIGHT MLS
• 2025-11-03 Price Changed $139,900 BRIGHT MLS
• 2025-10-23 Price Changed $140,000 BRIGHT MLS
• 2025-10-06 Listed $150,000 BRIGHT MLS
• 2021-07-01 Sold (Public Records) $25,000 Public Records
• 2008-01-17 Sold (Public Records) $26,250 Public Records

Property tax history

+3.7%/yr

Latest (2025): $331 · +0.0% YoY. Source: county tax records.