1933 Grinnalds Ave · Baltimore, MD 21230

$149,900

4 bd · 2.0 ba · 1,350 sqft · Townhouse public records · 62 Days on market

Built 1926 $111/sqft · 15% above area Est $131k · 15% 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 +8.7/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Schools +1.0/10.0
• ARV discount +0.9/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for your next investment property with a high cash flow? Are you a first-time home buyer who needs a downpayment assistant program? Then this is the house for you!! This home is fully renovated with a modern open concept look. New windows, new countertops, new LVP flooring and fresh carpet. It also has a new HVAC system and water heater. So, feel comfortable knowing that you can avoid these expenses. This house has a beautiful front porch and a covered balcony at the back. It also includes a 1 car driveway, where you can park, walk through the backyard and into your home. This property is just seconds away from I-95! No car, no worries. Located off Washington Blvd, there are plenty of shops and stores close by for your convenience. This location gives you access to public transportation and is just seconds away from I-95. Plus, Carroll Park is right up the street!

Key facts

• Parking
• Built 1926
• Listed 62 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath townhouse listed at $150k.

Deal economics

• At list price, monthly cash flow is $741 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $141k (6.0% 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: Elmer A. Henderson: A Johns Hopkins Partnership (math 2% / reading 16%, grade F, #650 of 860 statewide, top 77%, 642 students, 80% FRL); Baltimore Polytechnic Institute (math 71% / reading 84%, grade A-, #22 of 222 statewide, top 10%, 1,555 students, 43% FRL) — zoned schools average 62% FRL vs 79% district-wide (17 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 43% at this address vs 12% district-wide (+32 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 soft (-1.0%/yr); 363 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $1k 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 $42k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y 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 $47k; list at $150k implies a 219% 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 $140,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% 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: 1.37% ✓
• Cap rate: 12.23%
• Cash-on-cash: 21.19%
• DSCR: 1.94
• GRM: 6.1

CMA / ARV

• ARV (median comp): $130,736
• List price: $149,900
• Delta: 14.66%
• 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
2012 Griffis Ave	0.04mi	3/1.5 (-1)	1,242 (-8%)	7mo	$107,000	$86	72
2000 Hollins Ferry Rd	0.23mi	3/1.5 (-1)	1,248 (-8%)	1mo	$135,000	$108	69
2832 Washington Blvd	0.48mi	3/1.5 (-1)	1,344 (-0%)	1mo	$65,000	$48	69
2030 Griffis Ave	0.07mi	3/2.5 (-1)	1,538 (+14%)	6mo	$155,000	$101	62
1954 Sponson St	0.25mi	4/3.0	1,474 (+9%)	11mo	$350,000	$237	60
2400 Ridgely St	0.43mi	3/2.5 (-1)	1,440 (+7%)	10mo	$243,000	$169	54
2105 Maisel St	0.33mi	3/1.0 (-1)	1,456 (+8%)	11mo	$180,000	$124	53
2439 Ridgely St	0.44mi	4/2.5	1,152 (-15%)	4mo	$222,000	$193	49
2521 S Paca St	0.39mi	3/1.5 (-1)	1,152 (-15%)	1mo	$30,000	$26	49
2625 Waterview Ave	0.70mi	3/1.0 (-1)	1,260 (-7%)	6mo	$94,200	$75	42
2512 Ridgely St	0.42mi	3/1.5 (-1)	1,152 (-15%)	10mo	$145,000	$126	41
2445 Harriet Ave	0.74mi	3/1.0 (-1)	1,152 (-15%)	10mo	$185,000	$161	23

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: 10.5%
• Equity multiple: 1.40×
• Total profit: $16,852
• Equity at exit: $22,351

10-year hold

• IRR: 17.2%
• Equity multiple: 2.24×
• Total profit: $51,989
• Equity at exit: $12,961

Cash invested: $41,972 (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: 363
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,050 high
• Mortgage (P&I): −$786
• Tax from tax record: −$29 /mo · $352/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $741

Break-even live

Break-even rent $1,111

Max offer price $149,900

Occupancy floor 59%

Sensitivity live

Price	-10% $826	-5% $784	+0% $741	+5% $699	+10% $656
Rent	-10% $579	-5% $660	+0% $741	+5% $822	+10% $903
Rate	-1.0pp $817	-0.5pp $779	base $741	+0.5pp $702	+1.0pp $663

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2056 Griffis Ave Baltimore, MD	3.0	1.5	1230	$1,495	$1.22	23d	1	0.09mi
1633 Sexton St Baltimore, MD	4.0	3.0	1748	$1,999	$1.14	45d	1	0.23mi
941 Brunswick St Baltimore, MD	3.0	1.5	1558	$1,600	$1.03	45d	1	0.79mi
941 Brunswick St Baltimore, MD	3.0	1.5	1516	$1,650	$1.09	19d	1	0.79mi
3004 Elizabeth Ave Unit 1 Baltimore, MD	3.0	1.0	1024	$1,395	$1.36	6d	1	0.80mi
3017 Janice Ave Baltimore, MD	3.0	1.0	1024	$1,995	$1.95	25d	1	0.81mi
2737 Wilkens Ave Baltimore, MD	3.0	1.5	1232	$1,650	$1.34	6d	1	0.89mi
2514 Wilkens Ave Baltimore, MD	4.0	1.0	1344	$1,800	$1.34	45d	1	0.90mi
2514 Wilkens Ave Baltimore, MD	4.0	1.0	1344	$1,800	$1.34	12d	1	0.90mi
2738 Wilkens Ave Baltimore, MD	3.0	1.0	1183	$1,500	$1.27	45d	1	0.92mi
2509 Christian St Baltimore, MD	4.0	2.0	1248	$1,699	$1.36	5d	1	0.92mi
514 S Payson St Unit 2 Baltimore, MD	3.0	2.0	1264	$1,750	$1.38	45d	1	0.97mi
2200 W Patapsco Ave Baltimore, MD	3.0	1.0	890	$1,569	$1.76	45d	1	1.07mi
3207 Bryant Ave Halethorpe, MD	3.0	2.0	1808	$2,350	$1.30	45d	1	1.07mi
311 S Pulaski St Baltimore, MD	5.0	3.0	1450	$2,400	$1.66	5d	1	1.15mi
311 S Pulaski St Baltimore, MD	5.0	3.0	1450	$2,400	$1.66	45d	1	1.15mi
2540 Frederick Ave Baltimore, MD	3.0	1.0	1075	$1,400	$1.30	25d	1	1.16mi
1127 S Carey St Baltimore, MD	3.0	2.5	1340	$1,900	$1.42	6d	1	1.24mi
1259 Washington Blvd Baltimore, MD	3.0	3.0	1232	$2,999	$2.43	6d	1	1.25mi
1243 Washington Blvd Baltimore, MD	3.0	2.0	1148	$1,950	$1.70	45d	1	1.27mi
3130 Stafford St Baltimore, MD	3.0	1.0	1200	$1,500	$1.25	21d	1	1.34mi
1125 Washington Blvd Baltimore, MD	4.0	2.5	1200	$2,750	$2.29	19d	1	1.39mi
1142 Sargeant St Baltimore, MD	3.0	2.0	1080	$1,601	$1.48	3d	1	1.39mi
2537 Hollins St Baltimore, MD	3.0	2.0	1200	$1,450	$1.21	25d	1	1.41mi
1125 Wicomico St Baltimore, MD	3.0	3.0	1068	$1,955	$1.83	25d	1	1.41mi
2516 Hollins St Baltimore, MD	3.0	2.0	1100	$1,700	$1.55	45d	1	1.42mi
2225 W Baltimore St Baltimore, MD	3.0	2.5	1200	$1,600	$1.33	25d	1	1.44mi
1226 W Cross St Baltimore, MD	3.0	3.0	1551	$2,250	$1.45	45d	1	1.45mi
2232 W Baltimore St Baltimore, MD	3.0	1.0	1250	$1,875	$1.50	25d	1	1.46mi
1635 Frederick Ave Baltimore, MD	3.0	2.0	1224	$1,850	$1.51	45d	1	1.47mi
1918 W Baltimore St Baltimore, MD	2.0–3.0	1.0–2.0	857	$1,434	$1.67	45d	1	1.48mi

Listing history 11 events

1. 2026-05-14
   status Pending 885-char remark

   Show marketing remark (885 chars)

   Looking for your next investment property with a high cash flow? Are you a first-time home buyer who needs a downpayment assistant program? Then this is the house for you!! This home is fully renovated with a modern open concept look. New windows, new countertops, new LVP flooring and fresh carpet. It also has a new HVAC system and water heater. So, feel comfortable knowing that you can avoid these expenses. This house has a beautiful front porch and a covered balcony at the back. It also includes a 1 car driveway, where you can park, walk through the backyard and into your home. This property is just seconds away from I-95! No car, no worries. Located off Washington Blvd, there are plenty of shops and stores close by for your convenience. This location gives you access to public transportation and is just seconds away from I-95. Plus, Carroll Park is right up the street!

2. 2026-03-14
   listed $149,900 Active 885-char remark

   Show marketing remark (885 chars)

   Looking for your next investment property with a high cash flow? Are you a first-time home buyer who needs a downpayment assistant program? Then this is the house for you!! This home is fully renovated with a modern open concept look. New windows, new countertops, new LVP flooring and fresh carpet. It also has a new HVAC system and water heater. So, feel comfortable knowing that you can avoid these expenses. This house has a beautiful front porch and a covered balcony at the back. It also includes a 1 car driveway, where you can park, walk through the backyard and into your home. This property is just seconds away from I-95! No car, no worries. Located off Washington Blvd, there are plenty of shops and stores close by for your convenience. This location gives you access to public transportation and is just seconds away from I-95. Plus, Carroll Park is right up the street!

3. 2026-01-24
   historical $149,900 885-char remark

   Show marketing remark (885 chars)

   Looking for your next investment property with a high cash flow? Are you a first-time home buyer who needs a downpayment assistant program? Then this is the house for you!! This home is fully renovated with a modern open concept look. New windows, new countertops, new LVP flooring and fresh carpet. It also has a new HVAC system and water heater. So, feel comfortable knowing that you can avoid these expenses. This house has a beautiful front porch and a covered balcony at the back. It also includes a 1 car driveway, where you can park, walk through the backyard and into your home. This property is just seconds away from I-95! No car, no worries. Located off Washington Blvd, there are plenty of shops and stores close by for your convenience. This location gives you access to public transportation and is just seconds away from I-95. Plus, Carroll Park is right up the street!

4. 2015-09-02
   soldstatus $47,000
5. 2015-08-31
   soldstatus $47,000 Sold 179-char remark

   Show marketing remark (179 chars)

   Well maintained 3 bedroom, 2 bath home in Morrell Park with no ground rent. Parking pad in back, new rubber roof, covered front and back porch. Hardwood floors and custom blinds.

6. 2015-08-31
   soldstatus $47,000

   Show marketing remark (179 chars)

   Well maintained 3 bedroom, 2 bath home in Morrell Park with no ground rent. Parking pad in back, new rubber roof, covered front and back porch. Hardwood floors and custom blinds.

7. 2015-08-13
   status Contingent (No Kick Out) 179-char remark

   Show marketing remark (179 chars)

   Well maintained 3 bedroom, 2 bath home in Morrell Park with no ground rent. Parking pad in back, new rubber roof, covered front and back porch. Hardwood floors and custom blinds.

8. 2015-06-19
   price $54,900 179-char remark

   Show marketing remark (179 chars)

   Well maintained 3 bedroom, 2 bath home in Morrell Park with no ground rent. Parking pad in back, new rubber roof, covered front and back porch. Hardwood floors and custom blinds.

9. 2015-05-30
   price $64,900 179-char remark

   Show marketing remark (179 chars)

   Well maintained 3 bedroom, 2 bath home in Morrell Park with no ground rent. Parking pad in back, new rubber roof, covered front and back porch. Hardwood floors and custom blinds.

10. 2015-04-10
    price $69,900 179-char remark

    Show marketing remark (179 chars)

    Well maintained 3 bedroom, 2 bath home in Morrell Park with no ground rent. Parking pad in back, new rubber roof, covered front and back porch. Hardwood floors and custom blinds.

11. 2015-03-16
    listed $74,900 Active 179-char remark

    Show marketing remark (179 chars)

    Well maintained 3 bedroom, 2 bath home in Morrell Park with no ground rent. Parking pad in back, new rubber roof, covered front and back porch. Hardwood floors and custom blinds.

ⓘ 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: $352 · $29/mo
• Projected year-2 tax: $993 · $83/mo
• Expected delta: +$641/yr (+$53/mo · 181.9%)

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

Taxation est. · year 1

• Rental income: $24,596
• − Mortgage interest: −$8,397
• − Property taxes: −$352
• − Insurance: −$750
• − Repairs & maintenance: −$1,968
• − Management: −$1,968
• − Depreciation: −$4,361
• Taxable income: $6,801
• Est. tax owed @ 24.0%: −$1,632
• After-tax cash flow: $7,264/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

+100.1% since first listed

11 events — show timeline

• 2026-05-14 Pending — BRIGHT MLS
• 2026-03-14 Listed $149,900 BRIGHT MLS
• 2026-01-24 Coming Soon $149,900 BRIGHT MLS
• 2015-09-02 Sold (Public Records) $47,000 Public Records
• 2015-08-31 Sold (MLS) $47,000 BRIGHT MLS
• 2015-08-31 Sold (MLS) $47,000 MRIS
• 2015-08-13 Pending — MRIS
• 2015-06-19 Price Changed $54,900 MRIS
• 2015-05-30 Price Changed $64,900 MRIS
• 2015-04-10 Price Changed $69,900 MRIS
• 2015-03-16 Listed $74,900 MRIS

Property tax history

-11.0%/yr

Latest (2025): $352 · +0.0% YoY. Source: county tax records.