2125 Orleans St Unit 1 & 2 · Baltimore, MD 21231

$299,999

6 bd · 2.5 ba · 2,400 sqft · Townhouse · 44 Days on market

Built 1910 Fair condition 26 ac lot $125/sqft · 14% below area Est $349k · 14% under ↓ 29% since listing

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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 +20.6/30.0
• ARV discount +13.9/15.0
• DSCR +6.5/10.0
• 1% rule +5.4/10.0
• Livability +3.8/5.0
• Rent growth +3.1/5.0
• Condition / age +2.2/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

MUST SELL!!! SUBMIT YOUR HIGHEST AND BEST OFFER TODAY!!! Opportunity knocks for the immediate purchase of this vacant 2 units, side by side, residential property, strategically located in close proximity to Johns Hopkins Hospital and Patterson's Park, this unique duplex has a Front (F) unit and a Rear (R) unit on the same level. The front unit comprises 3 bedrooms, 1 bath and a partially finished but usable basement, which extends the entire length of both units. The second unit has 3 bedrooms and 1.5 bath on the main level. Welcome to the biggest opportunity for a First time Home Buyer to live in one unit and rent the other, virtually living mortgage free. For the investor, because

Key facts

• Built 1910
• Listed 44 days

Property features AI

Finance

• Financial info: Lease considered
• HOA & community: Ground rent paid annually

Exterior

• Parking: On-street parking
• Utilities: Public water; Public septic (listed as public septic); 120/240V electric service; 60+ gallon hot water tank
• Home design: End of row townhouse; Two stories; Fee simple ownership
• Construction: Brick construction; Block and brick/mortar foundation; Above-grade finished area reported by assessor; Below-grade finished and unfinished areas reported by assessor
• Exterior features: Not in a federal flood zone; Public water and sewer available; Cable TV available; Natural gas available; Electric service available

Interior

• Kitchen: Stove; Refrigerator
• Bedrooms: Three bedrooms on the first upper level; Three bedrooms on the second upper level
• Flooring: Hardwood; Ceramic tile; Partially carpeted
• Bathrooms: Two full bathrooms (one on first upper level, one on second upper level); One half bathroom (on first upper level)
• Heating & cooling: Baseboard electric heat; Ceiling fans; Window air conditioning units; Heating fuel: natural gas and electric; Cooling fuel: natural gas
• Interior features: Partially finished basement (about 80% finished); Assessor-provided living area information; Other interior features
• Laundry & utility: Electric dryer

What this means for you Summary

Snapshot

• This is a 6-bed/2.5-bath townhouse listed at $300k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $400 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $300k).
• Recommended offer: $291k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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 (+2.3%/yr); 131 active listings in the ZIP; 3 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).
• This rent runs 44% of the median local income ($85k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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.

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 $290,999 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.04% ✓
• Cap rate: 7.89%
• Cash-on-cash: 5.71%
• DSCR: 1.25
• GRM: 8.0

CMA / ARV

• ARV (median comp): $349,499
• List price: $299,999
• Delta: -14.16%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2038 Orleans St	0.08mi	5/1.5 (-1)	2,226 (-7%)	7mo	$90,000	$40	70
8 S Collington Ave	0.27mi	5/3.5 (-1)	2,500 (+4%)	11mo	$750,000	$300	62
2208 E Baltimore St	0.23mi	5/4.5 (-1)	2,640 (+10%)	4mo	$680,000	$258	56
3039 E Baltimore St	0.74mi	5/3.0 (-1)	2,544 (+6%)	5mo	$480,000	$189	44
135 S Linwood Ave	0.67mi	5/3.5 (-1)	2,225 (-7%)	10mo	$510,000	$229	39
831 N Luzerne Ave	0.48mi	5/3.0 (-1)	2,100 (-12%)	18mo	$286,000	$136	35

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 · 2.26% rent growth · sell at horizon

5-year hold

• IRR: -8.3%
• Equity multiple: 0.70×
• Total profit: $-25,429
• Equity at exit: $44,731

10-year hold

• IRR: 0.3%
• Equity multiple: 1.02×
• Total profit: $1,467
• Equity at exit: $25,938

Cash invested: $84,000 (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 21231

• Rents YoY: 2.3%
• Active inventory: 131
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $3,130 medium
• Mortgage (P&I): −$1,573
• Tax est. 1.5%: −$375 /mo · $4,500/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$657
• Net cashflow: $400

Break-even live

Break-even rent $2,624

Max offer price $299,999

Occupancy floor 82%

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2245 E Fayette St Unit 2ND FLOOR Baltimore, MD	5.0	2.0	3008	$2,650	$0.88	24d	1	0.12mi
228 N Kenwood Ave Baltimore, MD	5.0	2.0	1901	$2,200	$1.16	4d	1	0.48mi
919 Stiles St Baltimore, MD	5.0	5.5	3100	$6,250	$2.02	24d	1	0.95mi

Listing history 16 events

1. 2026-06-18
   days on market $299,999 Active 44 DOM
2. 2026-06-17
   days on market $299,999 Active 43 DOM
3. 2026-06-16
   days on market $299,999 Active 42 DOM
4. 2026-06-15
   days on market $299,999 Active 41 DOM
5. 2026-06-13
   days on market $299,999 Active 39 DOM
6. 2026-06-09
   days on market $299,999 Active 35 DOM
7. 2026-06-08
   days on market $299,999 Active 34 DOM
8. 2026-06-07
   days on market $299,999 Active 33 DOM
9. 2026-06-04
   days on market $299,999 Active 30 DOM
10. 2026-06-03
    days on market $299,999 Active 29 DOM
11. 2026-06-02
    days on market $299,999 Active 28 DOM
12. 2026-06-01
    days on market $299,999 Active 27 DOM
13. 2026-05-31
    days on market $299,999 Active 26 DOM
14. 2026-05-05
    listed $299,999 Active 2123-char remark
15. 2025-04-15
    historical
16. 2024-12-17
    listed $425,000 Active

ⓘ 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: $37,562
• − Mortgage interest: −$16,805
• − Property taxes: −$4,500
• − Insurance: −$1,500
• − Repairs & maintenance: −$3,005
• − Management: −$3,005
• − Depreciation: −$8,727
• Taxable income: $20
• Est. tax owed @ 24.0%: −$5
• After-tax cash flow: $4,790/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.

Condition & rehab AI · 13 photos

Fair 45/100 Moderate rehab

This property requires moderate rehabilitation, focusing on exterior repairs and interior updates to significantly improve its condition and marketability.

Repairs flagged

• Major Exterior siding — The siding is visibly weathered and peeling, indicating significant damage.
• Major Roof — Signs of wear and potential leaks are visible, indicating the need for repair or replacement.
• Minor Interior walls and paint — Some discoloration and peeling are visible, but not extensive enough to require immediate attention.
• Minor Bathrooms — Some wear and tear is visible on the fixtures and tiles, but not severe enough to require immediate attention.
• Minor Kitchen — Some wear and tear is visible on the cabinets and countertops, but not severe enough to require immediate attention.

Value-add opportunities

• Resale Paint exterior walls and replace siding — Refreshing the exterior appearance will significantly improve the home's curb appeal and marketability.
• Resale Replace roof — A new roof will address potential leaks and improve the home's overall condition, enhancing its marketability.
• Both Paint interior walls and update bathrooms — Updating the interior appearance will improve the home's overall condition and appeal to both buyers and renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · The siding is visibly weathered and peeling, indicating significant damage.	Major	$15,000–50,000
Roof · Signs of wear and potential leaks are visible, indicating the need for repair or replacement.	Major	$15,000–50,000
Interior walls and paint · Some discoloration and peeling are visible, but not extensive enough to require immediate attention.	Minor	$500–3,000
Bathrooms · Some wear and tear is visible on the fixtures and tiles, but not severe enough to require immediate attention.	Minor	$500–3,000
Kitchen · Some wear and tear is visible on the cabinets and countertops, but not severe enough to require immediate attention.	Minor	$500–3,000
Total estimated repair cost · 5 items		$31,500–109,000

Value-add ROI direction

• Resale Paint exterior walls and replace siding — Refreshing the exterior appearance will significantly improve the home's curb appeal and marketability. ↑
• Resale Replace roof — A new roof will address potential leaks and improve the home's overall condition, enhancing its marketability. ↑
• Both Paint interior walls and update bathrooms — Updating the interior appearance will improve the home's overall condition and appeal to both buyers and renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 14,969
• Household income: $85,254
• Rent vs Own: 65.8% rent · 34.2% own
• Severe rent burden: 1147.0

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 0.62)
• Race & ethnicity: White 53% Black 29% Hispanic / Latino 9% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Romanian 6% Slovak 2% Lithuanian 2%
• Foreign-born: 10% · Canada, China, South Korea
• Languages at home: 85% English-only · Spanish 6% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -545.26%
• Current HPI: 351.3778
• Rent YoY: ▲ 2.26%
• 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

-29.4% since first listed

3 events — show timeline

• 2026-05-05 Listed $299,999 BRIGHT MLS
• 2025-04-15 Listing Removed — BRIGHT MLS
• 2024-12-17 Listed $425,000 BRIGHT MLS