811 Gorsuch Ave · Baltimore, MD 21218

$299,000

9 bd · 3.5 ba · 2,000 sqft · MultiFamily public records · 6 Days on market

Built 1920 3,720 sqft lot

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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 +25.6/30.0
• DSCR +8.5/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Livability +3.8/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

BACK ON THE MARKET!!! * * * OPPORTUNITY FOR INVESTMENT --- 3-UNIT INCOME PRODUCING LICENSED RENTAL PROPERTY IN GREAT CONDITION!!! * * * PROPERTY IS LICENSED w/ BALT CITY & MDE; EACH UNIT HAS 1 BEDROOM, FULL BATH, LIVING ROOM, KITCHEN, WITH WASHER AND DRYER IN EACH UNIT; FIRST FLR UNIT ALSO HAS EXTRA HALF BATH. UNITS ARE GAS & ELECTRIC METERED SEPARATELY. THE FIRST AND SECOND FLOOR UNITS ALREADY HAVE TENANTS. TENANTS PAY THEIR OWN GAS & ELECTRIC & HOT WATER. BASIC WATER PAID BY OWNER. THERE IS A LARGE DOUBLE STORAGE SHED/GARAGE WITH ADDITIONAL INCOME POTENTIAL. FIRST FLOOR TENANT HAS ONE YEAR LEASE THROUGH APRIL 2021 AT $950 PER MONTH. SECOND FLOOR TENANT IS LONG TERM ON MONTH TO MONTH AT $745 PER MONTH. THIRD FLOOR WAS LAST LISTED AT $950 PER MONTH & IS CURRENTLY VACANT. FIRE ESCAPE FOR 2ND & 3RD FLOORS, PLUS REAR EXIT TO DECK FOR FIRST FLOOR UNIT. DETACHED GARAGE CURRENTLY HAS 2 STORAGE AREAS, COULD BE USED AS ADDITIONAL INCOME. NOTE: ALL HWHs LESS THAN 4 YRS OLD, 1ST FLR FURNACE LESS THAN 4 YRS OLD! * * * DON'T MISS THIS!!! * * *

Key facts

• Govans neighborhood
• Upgraded finishes
• Turnkey opportunity

Tags

• GOVANS NEIGHBORHOOD
• UPGRADED FINISHES
• IN-UNIT WASHER DRYERS
• SEPARATELY METERED UTILITIES
• TURNKEY OPPORTUNITY

Property features AI

Finance

• Financial info: Improvement assessed value $183,100; Land assessed value $40,000; Total tax assessed value $223,100; Taxes reported for 2025 (annual amount $5,334); Year assessed 2026; No rent control; One unit vacant, two units leased

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas hot water; Electric heating fuel
• Home design: Semi-detached structure; Fee simple ownership
• Construction: Frame construction; Block foundation; Other structures above and below grade
• Exterior features: Below-grade area present (unfinished 800); Above-grade finished area 2,000

Interior

• Bedrooms: Three one-bedroom units
• Heating & cooling: Radiator heat; Window air conditioning units (electric)
• Interior features: Assessor provided living area information

What this means for you Summary

Snapshot

• This is a 3 × 1-bed/1.0-bath units multifamily listed at $299k.

Deal economics

• At list price, monthly cash flow is $704 ($8k/yr) — positive. Per door: $235/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $299k).
• Cap rate 9.1% 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 (+1.6%/yr); 330 active listings in the ZIP; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• At $3,593/mo this rent would consume 69% of the median local household income ($62k/yr) (locally 2564% 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 $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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 9y 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 $220k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $299,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1920 — 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.20% ✓
• Cap rate: 9.12%
• Cash-on-cash: 10.08%
• DSCR: 1.45
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.63% rent growth · sell at horizon

5-year hold

• IRR: -2.7%
• Equity multiple: 0.90×
• Total profit: $-8,431
• Equity at exit: $44,582

10-year hold

• IRR: 5.4%
• Equity multiple: 1.37×
• Total profit: $31,243
• Equity at exit: $25,852

Cash invested: $83,720 (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 21218

• Rents YoY: 1.6%
• Active inventory: 330
• Price-to-rent: 20.8×

Monthly cashflow live

• Estimated rent: $3,593 high
• Mortgage (P&I): −$1,568
• Tax from tax record: −$442 /mo · $5,308/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$755
• Net cashflow: $704

Break-even live

Break-even rent $2,702

Max offer price $299,000

Occupancy floor 75%

Sensitivity live

Price	-10% $873	-5% $788	+0% $704	+5% $619	+10% $534
Rent	-10% $420	-5% $562	+0% $704	+5% $845	+10% $987
Rate	-1.0pp $854	-0.5pp $780	base $704	+0.5pp $626	+1.0pp $547

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$3,594
Total (3 units)			$3,593

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-21
   days on market $299,000 Active 6 DOM
2. 2026-06-18
   days on market $299,000 Active 3 DOM
3. 2026-06-17
   days on market $299,000 Active 2 DOM
4. 2026-06-16
   remarks 693-char remark
5. 2026-06-16
   listed $299,000 Active 1 DOM

ⓘ 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: $5,308 · $442/mo
• Projected year-2 tax: $5,308 · $442/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 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: $43,116
• − Mortgage interest: −$16,749
• − Property taxes: −$5,308
• − Insurance: −$1,495
• − Repairs & maintenance: −$3,449
• − Management: −$3,449
• − Depreciation: −$8,698
• Taxable income: $3,967
• Est. tax owed @ 24.0%: −$952
• After-tax cash flow: $7,490/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): 44,014
• Household income: $62,488
• Rent vs Own: 51.9% rent · 48.1% own
• Severe rent burden: 2564.0

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 0.58)
• Race & ethnicity: Black 60% White 26% Two or more races 6% Hispanic / Latino 5% Asian 5%
• Common ancestry: Romanian 2% Italian 1% Scotch-Irish 1%
• Foreign-born: 10% · Canada, China, South Korea
• Languages at home: 87% English-only · Spanish 4% French/Haitian/Cajun 2% Chinese 2%

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: ▼ -463.14%
• Current HPI: 292.3986
• Rent YoY: ▲ 1.63%
• 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

+611.9% since first listed

33 events — show timeline

• 2026-06-15 Listed $299,000 BRIGHT MLS
• 2025-06-05 Rental Removed $1,050 BRIGHTMLS
• 2025-05-25 Listed for Rent $1,050 BRIGHTMLS
• 2025-05-07 Rental Removed $1,150 BRIGHTMLS
• 2025-03-19 Listed for Rent $1,150 BRIGHTMLS
• 2021-12-15 Sold (Public Records) $220,000 Public Records
• 2021-09-30 Sold (MLS) $220,000 BRIGHT MLS
• 2021-09-29 Sold (MLS) $220,000 BRIGHT MLS
• 2021-04-15 Pending — BRIGHT MLS
• 2021-04-15 Pending — BRIGHT MLS
• 2021-03-27 Price Changed $225,000 BRIGHT MLS
• 2021-03-27 Price Changed $225,000 BRIGHT MLS
• 2021-03-15 Price Changed $240,000 BRIGHT MLS
• 2021-03-15 Price Changed $240,000 BRIGHT MLS
• 2021-03-15 Relisted — BRIGHT MLS
• 2021-03-15 Relisted — BRIGHT MLS
• 2021-02-17 Pending — BRIGHT MLS
• 2021-02-17 Pending — BRIGHT MLS
• 2021-02-13 Listed $199,900 BRIGHT MLS
• 2021-02-13 Listed $199,900 BRIGHT MLS
• 2020-07-22 Listing Removed — BRIGHT MLS
• 2020-03-09 Relisted — BRIGHT MLS
• 2020-03-09 Price Changed $260,000 BRIGHT MLS
• 2020-01-07 Relisted — BRIGHT MLS
• 2020-01-07 Listing Removed — BRIGHT MLS
• 2020-01-07 Listing Removed — BRIGHT MLS
• 2019-09-10 Price Changed $265,900 BRIGHT MLS
• 2019-06-27 Price Changed $275,000 BRIGHT MLS
• 2018-06-28 Price Changed $299,900 BRIGHT MLS
• 2018-05-30 Price Changed $315,000 BRIGHT MLS
• 2017-10-06 Listed $325,000 BRIGHT MLS
• 1988-12-20 Sold (Public Records) $42,000 Public Records
• 1985-10-07 Sold (Public Records) $42,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $5,308 · +4.9% YoY. Source: county tax records.