242 S Highland Ave · Baltimore, MD 21224

$219,900

3 bd · 1.5 ba · 2,076 sqft · Townhouse public records · 137 Days on market

Built 1900 1,564 sqft lot $106/sqft · 44% below area Est $318k · 31% 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 +25.1/30.0
• ARV discount +15.0/15.0
• DSCR +8.2/10.0
• 1% rule +7.0/10.0
• Livability +3.8/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Hurry to this rare 16' wide, nearly 2600 total sq ft including basement with front outside (Rare) entrance. The wide alley will accommodate off-street parking with minor concrete work to create entry. Currently operating as a hair salon on main level with upper-level apartment but easy to convert back to a home with additional rooms in the basement (6'5" ceiling height) or create an additional basement apartment. Possibilities are endless with city approval of course. Bring your imagination to see this one. Features include efficient gas fired radiator heat with newer central AC unit, recessed lights, large room sizes, hardwood under current flooring, 200-amp electric panel with sub panel on upper level, fenced rear yard, large concrete porch, all appliances convey. .. Basement has toilet and sink and just needs shower redone for a 2nd full bath. Just a short walk to Canton, Patterson Park and Restaurants. Easy commute downtown or to major routes. Make your appointment today!

Key facts

• Off street parking
• Large room sizes
• Recessed lights

Tags

• OFF STREET PARKING
• UPPER LEVEL APARTMENT
• ADDITIONAL BASEMENT APARTMENT
• NEWER CENTRAL AC UNIT
• RECESSED LIGHTS
• LARGE ROOM SIZES

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $220k.

Deal economics

• At list price, monthly cash flow is $488 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $220k).
• Recommended offer: $194k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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 (+1.3%/yr); 391 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); 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).
• This rent runs 36% of the median local income ($89k/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 $7k 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 137 days — a 12% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $32k; list at $220k implies a 587% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $193,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 137 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 1900 — 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: 1.20% ✓
• Cap rate: 8.95%
• Cash-on-cash: 9.50%
• DSCR: 1.42
• GRM: 6.9

CMA / ARV

• ARV (median comp): $318,298
• List price: $219,900
• Delta: -30.91%
• 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
246 S East Ave	0.13mi	3/2.0	2,050 (-1%)	0mo	$324,900	$158	89
234 S Highland Ave	0.01mi	3/3.5	1,848 (-11%)	0mo	$417,500	$226	73
708 S Conkling St	0.36mi	4/3.5 (+1)	2,073 (-0%)	0mo	$475,000	$229	70
21 S Linwood Ave	0.38mi	3/2.5	1,912 (-8%)	0mo	$490,000	$256	65
263 S East Ave	0.11mi	2/2.0 (-1)	1,767 (-15%)	0mo	$375,000	$212	63
633 S Linwood Ave S	0.46mi	3/2.5	1,935 (-7%)	0mo	$351,000	$181	63
3006 Dillon St	0.59mi	3/3.5	1,988 (-4%)	0mo	$365,000	$184	57
3425 Odonnell St	0.63mi	3/3.5	1,960 (-6%)	0mo	$580,000	$296	53
4005 Harmony Ct	0.62mi	3/3.5	2,220 (+7%)	0mo	$575,000	$259	51
731 S Conkling St	0.40mi	4/3.5 (+1)	1,836 (-12%)	0mo	$480,000	$261	49
914 S Fagley St	0.58mi	3/3.0	2,325 (+12%)	0mo	$625,000	$269	47
3121 Mcelderry St	0.62mi	3/3.0	2,316 (+12%)	0mo	$269,900	$117	45

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 · 1.31% rent growth · sell at horizon

5-year hold

• IRR: -3.9%
• Equity multiple: 0.86×
• Total profit: $-8,919
• Equity at exit: $32,788

10-year hold

• IRR: 3.6%
• Equity multiple: 1.24×
• Total profit: $15,025
• Equity at exit: $19,013

Cash invested: $61,572 (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 21224

• Rents YoY: 1.3%
• Active inventory: 391
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,648 high
• Mortgage (P&I): −$1,153
• Tax from tax record: −$360 /mo · $4,317/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$556
• Net cashflow: $488

Break-even live

Break-even rent $2,031

Max offer price $219,900

Occupancy floor 77%

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
249 S East Ave Baltimore, MD	2.0	2.0	1680	$2,250	$1.34	24d	1	0.13mi
3502 E Lombard St Baltimore, MD	3.0	2.0	1522	$1,870	$1.23	44d	1	0.18mi
300 S Robinson St Baltimore, MD	4.0	3.5	2604	$3,500	$1.34	44d	1	0.20mi
3436 Leverton Ave Baltimore, MD	3.0	3.5	1500	$2,350	$1.57	24d	1	0.21mi
127 S Robinson St Baltimore, MD	2.0	1.5	1400	$2,000	$1.43	44d	1	0.21mi
3304 E Baltimore St Baltimore, MD	3.0	1.5	1514	$1,875	$1.24	44d	1	0.26mi
3212 E Baltimore St Baltimore, MD	2.0	3.0	1931	$2,350	$1.22	24d	1	0.29mi
622 S Ellwood Ave Baltimore, MD	3.0	2.0	1906	$2,800	$1.47	44d	1	0.36mi
10 N Ellwood Ave Baltimore, MD	4.0	2.5	1768	$2,500	$1.41	44d	1	0.36mi
502 S Haven St Baltimore, MD	2.0	2.5	1440	$2,400	$1.67	16d	1	0.39mi
502 S Haven St Baltimore, MD	2.0	2.5	1440	$2,400	$1.67	24d	1	0.39mi
3245 Fait Ave Baltimore, MD	3.0	2.0	1470	$2,900	$1.97	44d	1	0.39mi
611 Grundy St Baltimore, MD	3.0	2.0	1434	$2,700	$1.88	24d	1	0.40mi
822 S Highland Ave Baltimore, MD	4.0	3.0	1508	$3,500	$2.32	22d	1	0.42mi
113 N Decker Ave Baltimore, MD	3.0	3.5	1800	$2,850	$1.58	24d	1	0.42mi
3703 Hudson St Baltimore, MD	4.0	3.0	1958	$3,350	$1.71	24d	1	0.49mi
602 S Streeper St Baltimore, MD	4.0	3.0	1980	$3,200	$1.62	24d	1	0.49mi
11 N Streeper St Baltimore, MD	3.0	3.5	1800	$2,600	$1.44	44d	1	0.49mi
3036 Hudson St Baltimore, MD	2.0	2.5	1428	$2,600	$1.82	44d	1	0.50mi
10 N Streeper St Baltimore, MD	3.0	2.5	1440	$2,500	$1.74	24d	1	0.50mi
939 S Baylis St Baltimore, MD	3.0	3.0	1606	$3,500	$2.18	18d	1	0.51mi
1015 S Clinton St Baltimore, MD	2.0	2.5	1880	$2,800	$1.49	24d	1	0.55mi
4002 Harmony Ct Baltimore, MD	4.0	3.5	2200	$4,000	$1.82	44d	1	0.58mi
133 S Macon St Baltimore, MD	2.0	2.5	1440	$2,400	$1.67	18d	1	0.64mi
228 S Newkirk St Baltimore, MD	3.0	3.5	1620	$3,000	$1.85	44d	1	0.65mi
214 S Newkirk St Unit 214 Baltimore, MD	3.0	5.0	2000	$3,000	$1.50	44d	1	0.65mi
224 S Newkirk St Baltimore, MD	3.0	3.5	1600	$3,300	$2.06	20d	1	0.65mi
230 S Newkirk St Baltimore, MD	3.0	3.5	1600	$3,000	$1.88	18d	1	0.65mi
3304 McElderry St Baltimore, MD	3.0	2.0	1413	$1,900	$1.34	44d	1	0.65mi
2903 Jefferson St Baltimore, MD	3.0	3.0	1609	$1,850	$1.15	44d	1	0.66mi
2800 Orleans St Baltimore, MD	3.0	1.0	1404	$1,600	$1.14	18d	1	0.66mi
2800 Orleans St Baltimore, MD	3.0	1.0	1404	$1,600	$1.14	15d	1	0.66mi
4519 Foster Ave Baltimore, MD	3.0	4.0	1888	$2,950	$1.56	24d	1	0.67mi
4500 Fait Ave Baltimore, MD	3.0	3.5	1792	$2,800	$1.56	44d	1	0.67mi
2619 E Fayette St Baltimore, MD	3.0	2.0	1600	$1,900	$1.19	44d	1	0.68mi
1211 S Eaton St Unit 3035 Baltimore, MD	3.0	2.0	1545	$3,900	$2.52	24d	1	0.69mi
1200 S Conkling St Baltimore, MD	1.0–2.0	1.0–2.0	1085	$2,933	$2.70	2d	16	0.70mi
3700 Toone St Baltimore, MD	1.0–2.0	1.0–2.0	1093	$3,218	$2.94	2d	28	0.73mi
608 Oldham St Baltimore, MD	3.0	3.5	1640	$2,500	$1.52	24d	1	0.73mi
727 S Macon St Baltimore, MD	3.0	2.5	1600	$3,450	$2.16	44d	1	0.75mi

Listing history 5 events

1. 2026-05-17
   price $219,900 995-char remark

   Show marketing remark (995 chars)

   Hurry to this rare 16' wide, nearly 2600 total sq ft including basement with front outside (Rare) entrance. The wide alley will accommodate off-street parking with minor concrete work to create entry. Currently operating as a hair salon on main level with upper-level apartment but easy to convert back to a home with additional rooms in the basement (6'5" ceiling height) or create an additional basement apartment. Possibilities are endless with city approval of course. Bring your imagination to see this one. Features include efficient gas fired radiator heat with newer central AC unit, recessed lights, large room sizes, hardwood under current flooring, 200-amp electric panel with sub panel on upper level, fenced rear yard, large concrete porch, all appliances convey. .. Basement has toilet and sink and just needs shower redone for a 2nd full bath. Just a short walk to Canton, Patterson Park and Restaurants. Easy commute downtown or to major routes. Make your appointment today!

2. 2026-04-09
   price $229,900 995-char remark

   Show marketing remark (995 chars)

   Hurry to this rare 16' wide, nearly 2600 total sq ft including basement with front outside (Rare) entrance. The wide alley will accommodate off-street parking with minor concrete work to create entry. Currently operating as a hair salon on main level with upper-level apartment but easy to convert back to a home with additional rooms in the basement (6'5" ceiling height) or create an additional basement apartment. Possibilities are endless with city approval of course. Bring your imagination to see this one. Features include efficient gas fired radiator heat with newer central AC unit, recessed lights, large room sizes, hardwood under current flooring, 200-amp electric panel with sub panel on upper level, fenced rear yard, large concrete porch, all appliances convey. .. Basement has toilet and sink and just needs shower redone for a 2nd full bath. Just a short walk to Canton, Patterson Park and Restaurants. Easy commute downtown or to major routes. Make your appointment today!

3. 2026-03-15
   price $239,900 995-char remark

   Show marketing remark (995 chars)

   Hurry to this rare 16' wide, nearly 2600 total sq ft including basement with front outside (Rare) entrance. The wide alley will accommodate off-street parking with minor concrete work to create entry. Currently operating as a hair salon on main level with upper-level apartment but easy to convert back to a home with additional rooms in the basement (6'5" ceiling height) or create an additional basement apartment. Possibilities are endless with city approval of course. Bring your imagination to see this one. Features include efficient gas fired radiator heat with newer central AC unit, recessed lights, large room sizes, hardwood under current flooring, 200-amp electric panel with sub panel on upper level, fenced rear yard, large concrete porch, all appliances convey. .. Basement has toilet and sink and just needs shower redone for a 2nd full bath. Just a short walk to Canton, Patterson Park and Restaurants. Easy commute downtown or to major routes. Make your appointment today!

4. 2026-01-07
   listed $249,900 Active 995-char remark

   Show marketing remark (995 chars)

   Hurry to this rare 16' wide, nearly 2600 total sq ft including basement with front outside (Rare) entrance. The wide alley will accommodate off-street parking with minor concrete work to create entry. Currently operating as a hair salon on main level with upper-level apartment but easy to convert back to a home with additional rooms in the basement (6'5" ceiling height) or create an additional basement apartment. Possibilities are endless with city approval of course. Bring your imagination to see this one. Features include efficient gas fired radiator heat with newer central AC unit, recessed lights, large room sizes, hardwood under current flooring, 200-amp electric panel with sub panel on upper level, fenced rear yard, large concrete porch, all appliances convey. .. Basement has toilet and sink and just needs shower redone for a 2nd full bath. Just a short walk to Canton, Patterson Park and Restaurants. Easy commute downtown or to major routes. Make your appointment today!

5. 1993-06-22
   soldstatus $32,000

ⓘ 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: $4,317 · $360/mo
• Projected year-2 tax: $4,317 · $360/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,779
• − Mortgage interest: −$12,318
• − Property taxes: −$4,317
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,542
• − Management: −$2,542
• − Depreciation: −$6,397
• Taxable income: $2,563
• Est. tax owed @ 24.0%: −$615
• After-tax cash flow: $5,235/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): 47,465
• Household income: $89,017
• Rent vs Own: 41.5% rent · 58.5% own
• Severe rent burden: 1786.0

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 55% Hispanic / Latino 21% Black 16% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2% Dominican 1%
• Common ancestry: Romanian 5% Lithuanian 2% Italian 1%
• Foreign-born: 17% · Canada, China, Vietnam
• Languages at home: 76% English-only · Spanish 18% 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: ▼ -332.23%
• Current HPI: 241.284
• Rent YoY: ▲ 1.31%
• 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

+587.2% since first listed

5 events — show timeline

• 2026-05-17 Price Changed $219,900 BRIGHT MLS
• 2026-04-09 Price Changed $229,900 BRIGHT MLS
• 2026-03-15 Price Changed $239,900 BRIGHT MLS
• 2026-01-07 Listed $249,900 BRIGHT MLS
• 1993-06-22 Sold (Public Records) $32,000 Public Records

Property tax history

+1.7%/yr

Latest (2025): $4,317 · +1.4% YoY. Source: county tax records.