812 N Monroe St · Baltimore, MD 21217

$152,000

4 bd · 3.0 ba · 1,770 sqft · Townhouse · 49 Days on market

Built 1920 $86/sqft · 75% above area

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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 +29.6/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• 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

ONLINE AUCTION: Bidding begins 12/13 @ 10:00 AM. Bidding ends 12/15 @ 11:40 AM. List Price is Suggested Opening Bid. Deposit: $5,000. 10% Buyer Premium added to the high bid. This two-story townhome is positioned in the Midtown-Edmondson area. The property is within minutes from Grace Medical Center, a local healthcare facility, and Harlem Square Park, a public city park. Additionally, the property offers access to Edmondson Ave, a major traffic artery, facilitating ease of travel to surrounding areas. Currently, the townhome is vacant. The property is in need of major renovation.

Key facts

• Fenced in backyard
• Modern kitchen
• Finished lower level

Tags

• FENCED IN BACKYARD
• FINISHED LOWER LEVEL
• MODERN KITCHEN
• STAINLESS STEEL APPLIANCES

Property features AI

Finance

• Financial info: Ground rent: $2,500 annually; Improvement assessed value: $6,000; Land assessed value: $1,000; Tax assessed value: $7,000; Most recent tax year: 2023

Exterior

• Parking: On-street parking
• Utilities: Public water; Public septic
• Home design: Interior townhouse/rowhouse; Ownership: Ground rent (paid annually)
• Construction: Brick construction; Other foundation; Above-grade and below-grade structures; Estimated year built
• Exterior features: No tidal water; Municipal trash service

Interior

• Bedrooms: 4 bedrooms on the main level
• Bathrooms: 3 full bathrooms on the main level; 3 full bathrooms total
• Heating & cooling: Other heating; Natural gas fuel
• Interior features: Estimated living area; Unfinished basement

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath townhouse listed at $152k.

Deal economics

• At list price, monthly cash flow is $547 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $152k).
• Recommended offer: $147k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.6% 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 $2,022/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 $1k of loan paydown is wiped out by about $5k 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 $43k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($147k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $12k; list at $152k implies a 1167% gain — meaningful room to come down on a strong offer.

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 $147,440 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.33% ✓
• Cap rate: 10.61%
• Cash-on-cash: 15.43%
• DSCR: 1.69
• GRM: 6.3

CMA / ARV

• ARV (median comp): $86,833
• List price: $152,000
• Delta: 75.05%
• 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
2406 Arunah Ave	0.44mi	4/3.5	1,824 (+3%)	2mo	$350,000	$192	71
2318 W Lanvale St	0.36mi	4/2.5	1,884 (+6%)	2mo	$180,000	$96	68
2429 W Lafayette Ave	0.45mi	4/1.5	1,850 (+4%)	4mo	$109,000	$59	62
1626 N Smallwood St	0.67mi	5/3.0 (+1)	1,770 (0%)	2mo	$238,000	$134	62
2400 W Lafayette Ave	0.40mi	4/2.0	1,584 (-10%)	2mo	$263,000	$166	58
2543 Edmondson Ave	0.59mi	5/3.5 (+1)	1,814 (+2%)	4mo	$195,000	$107	58
854 Whitmore Ave	0.57mi	4/3.5	1,920 (+8%)	4mo	$245,000	$128	54
2522 Harlem Ave	0.54mi	4/2.0	1,608 (-9%)	3mo	$114,000	$71	53
1520 Appleton St	0.54mi	3/3.5 (-1)	1,920 (+8%)	4mo	$215,000	$112	51
2514 W Lafayette Ave	0.50mi	3/2.0 (-1)	1,560 (-12%)	2mo	$232,000	$149	46
1601 Ruxton Ave	0.69mi	3/1.0 (-1)	1,568 (-11%)	1mo	$90,000	$57	35
1503 W Fairmount Ave	0.72mi	3/2.5 (-1)	1,542 (-13%)	4mo	$190,000	$123	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 · 6.63% rent growth · sell at horizon

5-year hold

• IRR: 10.2%
• Equity multiple: 1.42×
• Total profit: $17,911
• Equity at exit: $22,664

10-year hold

• IRR: 22.1%
• Equity multiple: 3.22×
• Total profit: $94,457
• Equity at exit: $13,142

Cash invested: $42,560 (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: 6.3×

Monthly cashflow live

• Estimated rent: $2,022 high
• Mortgage (P&I): −$797
• Tax est. 1.5%: −$190 /mo · $2,280/yr
• Insurance: −$63
• HOA: −$0
• Vacancy / Maint / Mgmt: −$425
• Net cashflow: $547

Break-even live

Break-even rent $1,330

Max offer price $152,000

Occupancy floor 68%

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: $38,000
• Closing costs: $4,560
• 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	24d	1	0.31mi
1625 Edmondson Ave Unit 2 Baltimore, MD	4.0	3.0	1500	$1,895	$1.26	12d	1	0.31mi
1625 Edmondson Ave Unit 1 Baltimore, MD	4.0	3.0	1500	$2,175	$1.45	4d	1	0.31mi
918 N Bentalou St Baltimore, MD	3.0	1.5	1485	$1,750	$1.18	43d	1	0.32mi
2303 Calverton Heights Ave Baltimore, MD	4.0	2.0	1314	$2,250	$1.71	24d	1	0.32mi
1509 Edmondson Ave #1 Baltimore, MD	3.0	2.0	1600	$2,275	$1.42	24d	1	0.38mi
2012 W Saratoga St Baltimore, MD	3.0	1.0	1300	$1,700	$1.31	24d	1	0.41mi
1814 Penrose Ave Baltimore, MD	3.0	1.0	1624	$1,700	$1.05	17d	1	0.46mi
1501 N Payson St Baltimore, MD	3.0	1.0	1400	$1,550	$1.11	43d	1	0.51mi
1516 N Mount St Baltimore, MD	3.0	1.5	1830	$1,750	$0.96	14d	1	0.57mi
1839 W Fayette St Baltimore, MD	3.0	1.5	1426	$1,675	$1.17	24d	1	0.60mi
1616 N Fulton Ave Baltimore, MD	3.0	2.0	1620	$1,795	$1.11	4d	1	0.63mi
1315 Presstman St Baltimore, MD	4.0	2.0	1700	$2,000	$1.18	43d	1	0.67mi
39 N Bentalou St Baltimore, MD	3.0	2.5	1844	$1,700	$0.92	3d	1	0.67mi
2609 Lauretta Ave Baltimore, MD	3.0	1.0	1286	$1,675	$1.30	24d	1	0.69mi
2636 Lauretta Ave Baltimore, MD	3.0	2.5	1232	$1,900	$1.54	43d	1	0.72mi
2232 W Baltimore St Baltimore, MD	3.0	1.0	1250	$1,875	$1.50	24d	1	0.72mi
1032 W Franklin St Baltimore, MD	4.0	4.5	1913	$2,650	$1.39	24d	1	0.73mi
2744 W Mosher St Baltimore, MD	4.0	2.0	1412	$2,100	$1.49	24d	1	0.81mi
2728 Winchester St Baltimore, MD	3.0	1.5	1260	$1,800	$1.43	3d	1	0.82mi
1816 N Bentalou St Baltimore, MD	3.0	2.0	1350	$1,700	$1.26	11d	1	0.83mi
1816 N Bentalou St Baltimore, MD	3.0	2.0	1350	$1,700	$1.26	24d	1	0.83mi
2806 Riggs Ave Baltimore, MD	3.0	2.5	1412	$1,900	$1.35	3d	1	0.86mi
519 Sanford Pl Baltimore, MD	3.0	1.0	1300	$1,650	$1.27	16d	1	0.88mi
2401 W North Ave Baltimore, MD	5.0	2.0	2037	$1,800	$0.88	4d	1	0.89mi
2405 W North Ave Baltimore, MD	4.0	3.0	1826	$1,900	$1.04	4d	1	0.89mi
549 Mosher St Baltimore, MD	3.0	1.0	2200	$1,350	$0.61	43d	1	0.91mi
1328 W Lombard St Baltimore, MD	3.0	3.5	2312	$3,600	$1.56	12d	1	0.92mi
2028 Druid Hill Ave Baltimore, MD	3.0	2.5	1437	$1,799	$1.25	11d	1	0.93mi
2028 Druid Hill Ave Unit 1 Baltimore, MD	3.0	2.5	1437	$1,750	$1.22	2d	1	0.93mi
101 N Schroeder St Baltimore, MD	3.0	1.0–2.0	1037	$3,185	$3.07	2d	12	0.94mi
2614 Pennsylvania Ave Baltimore, MD	1.0–3.0	1.0–2.0	982	$1,141	$1.16	4d	4	0.94mi
1725 Druid Hill Ave Baltimore, MD	4.0	3.0	2195	$2,100	$0.96	24d	1	0.97mi
2922 Edmondson Ave Baltimore, MD	3.0	2.0	1620	$1,900	$1.17	43d	1	0.97mi
2800 Presstman St Baltimore, MD	3.0	2.5	1460	$1,799	$1.23	24d	1	0.98mi
311 S Pulaski St Baltimore, MD	5.0	3.0	1450	$2,400	$1.66	43d	1	0.99mi
311 S Pulaski St Baltimore, MD	5.0	3.0	1450	$2,400	$1.66	3d	1	0.99mi
1138 W Lombard St Baltimore, MD	3.0	3.5	2400	$1,795	$0.75	24d	1	1.00mi
2204 Clifton Ave Baltimore, MD	3.0	1.0	1400	$1,450	$1.04	4d	1	1.01mi
104 S Carrollton Ave Baltimore, MD	3.0	4.0	1232	$2,400	$1.95	4d	1	1.01mi

Listing history 21 events

1. 2026-06-18
   days on market $152,000 Active 49 DOM
2. 2026-06-17
   days on market $152,000 Active 48 DOM
3. 2026-06-16
   days on market $152,000 Active 47 DOM
4. 2026-06-15
   days on market $152,000 Active 46 DOM
5. 2026-06-13
   days on market $152,000 Active 44 DOM
6. 2026-06-09
   days on market $152,000 Active 40 DOM
7. 2026-06-08
   days on market $152,000 Active 39 DOM
8. 2026-06-07
   days on market $152,000 Active 38 DOM
9. 2026-06-04
   days on market $152,000 Active 35 DOM
10. 2026-06-03
    pricedays on market $152,000 Active 34 DOM
11. 2026-06-02
    days on market $162,000 Active 33 DOM
12. 2026-06-01
    days on market $162,000 Active 32 DOM
13. 2026-05-31
    days on market $162,000 Active 31 DOM
14. 2026-04-30
    listed $162,000 Active 463-char remark
15. 2024-01-18
    soldstatus $12,000 Closed 587-char remark

    Show marketing remark (587 chars)

    ONLINE AUCTION: Bidding begins 12/13 @ 10:00 AM. Bidding ends 12/15 @ 11:40 AM. List Price is Suggested Opening Bid. Deposit: $5,000. 10% Buyer Premium added to the high bid. This two-story townhome is positioned in the Midtown-Edmondson area. The property is within minutes from Grace Medical Center, a local healthcare facility, and Harlem Square Park, a public city park. Additionally, the property offers access to Edmondson Ave, a major traffic artery, facilitating ease of travel to surrounding areas. Currently, the townhome is vacant. The property is in need of major renovation.

16. 2023-11-16
    status Active 587-char remark

    Show marketing remark (587 chars)

    ONLINE AUCTION: Bidding begins 12/13 @ 10:00 AM. Bidding ends 12/15 @ 11:40 AM. List Price is Suggested Opening Bid. Deposit: $5,000. 10% Buyer Premium added to the high bid. This two-story townhome is positioned in the Midtown-Edmondson area. The property is within minutes from Grace Medical Center, a local healthcare facility, and Harlem Square Park, a public city park. Additionally, the property offers access to Edmondson Ave, a major traffic artery, facilitating ease of travel to surrounding areas. Currently, the townhome is vacant. The property is in need of major renovation.

17. 2023-09-25
    status Pending 587-char remark

    Show marketing remark (587 chars)

    ONLINE AUCTION: Bidding begins 12/13 @ 10:00 AM. Bidding ends 12/15 @ 11:40 AM. List Price is Suggested Opening Bid. Deposit: $5,000. 10% Buyer Premium added to the high bid. This two-story townhome is positioned in the Midtown-Edmondson area. The property is within minutes from Grace Medical Center, a local healthcare facility, and Harlem Square Park, a public city park. Additionally, the property offers access to Edmondson Ave, a major traffic artery, facilitating ease of travel to surrounding areas. Currently, the townhome is vacant. The property is in need of major renovation.

18. 2023-09-06
    listed $10,000 Active 587-char remark

    Show marketing remark (587 chars)

    ONLINE AUCTION: Bidding begins 12/13 @ 10:00 AM. Bidding ends 12/15 @ 11:40 AM. List Price is Suggested Opening Bid. Deposit: $5,000. 10% Buyer Premium added to the high bid. This two-story townhome is positioned in the Midtown-Edmondson area. The property is within minutes from Grace Medical Center, a local healthcare facility, and Harlem Square Park, a public city park. Additionally, the property offers access to Edmondson Ave, a major traffic artery, facilitating ease of travel to surrounding areas. Currently, the townhome is vacant. The property is in need of major renovation.

19. 2019-02-06
    historical
20. 2018-11-28
    historical Active Under Contract
21. 2018-11-07
    listed $9,900 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: $24,269
• − Mortgage interest: −$8,514
• − Property taxes: −$2,280
• − Insurance: −$760
• − Repairs & maintenance: −$1,942
• − Management: −$1,942
• − Depreciation: −$4,422
• Taxable income: $4,410
• Est. tax owed @ 24.0%: −$1,058
• After-tax cash flow: $5,509/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

+1435.4% since first listed

9 events — show timeline

• 2026-06-03 Price Changed $152,000 BRIGHT MLS
• 2026-04-30 Listed $162,000 BRIGHT MLS
• 2024-01-18 Sold (MLS) $12,000 BRIGHT MLS
• 2023-11-16 Relisted — BRIGHT MLS
• 2023-09-25 Pending — BRIGHT MLS
• 2023-09-06 Listed $10,000 BRIGHT MLS
• 2019-02-06 Listing Removed — BRIGHT MLS
• 2018-11-28 Contingent — BRIGHT MLS
• 2018-11-07 Listed $9,900 BRIGHT MLS

Property tax history

-5.8%/yr

Latest (2025): $117 · +0.0% YoY. Source: county tax records.