621 Rappolla St · Baltimore, MD 21224

$159,900

3 bd · 1.0 ba · 1,408 sqft · Townhouse public records · 20 Days on market

Built 1925 1,260 sqft lot Est $307k · 48% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

* * * FANTASTIC EQUITY POTENTIAL!! * * * This 3BD/1BA brick townhome located in the up-and-coming area of GREEKTOWN, is an excellent opportunity whether you are an Investor or a handy First-time Home Buyer who wants to create equity! With updated HVAC, 3 full levels with closets and storage, the MAIN LEVEL offers an open floor-plan with Living Room, Dining Room, & Kitchen with Breakfast Bar & Rear Balcony. UPPER LEVEL has a large Owners Bedroom, with two additional Bedrooms and a Jack-and-Jill Full Bath. LOWER LEVEL offers several rooms with the potential to include a family room, home gym, playroom, recreation room, or extra storage, depending on your vision. With its loc

Key facts

• Built 1925
• Listed 20 days

Property features AI

Finance

• Other: Total below-grade area and finished/unfinished breakdown available (below-grade finished and unfinished areas recorded)
• Financial info: Ground rent exists (semi-annual payment); Annual ground rent listed

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas hot water
• Home design: Interior townhouse / rowhouse; Ground rent interest
• Construction: Brick construction; Permanent foundation; Partially finished basement with daylight windows and walkout level; connecting stairway and interior access; Above grade and below grade structures
• Exterior features: Sidewalks; Chain link fence (partial, rear); Balcony; Porch(es)

Interior

• Kitchen: Gas oven/range; Microwave; Refrigerator
• Bedrooms: 3 bedrooms on the upper level
• Flooring: Carpet; Ceramic tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas fuel; Central air conditioning; Ceiling fan(s)
• Interior features: Open floor plan; Breakfast area / Kitchen eat-in; Dining area; Ceiling fans; Tub with shower
• Laundry & utility: Washer and dryer included; Laundry in basement; Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $160k.

Deal economics

• At list price, monthly cash flow is $831 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $158k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.5% 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: 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: John Ruhrah Elementary/Middle (math 3% / reading 7%, grade F, #766 of 860 statewide, top 93%, 930 students, 62% FRL); Baltimore Polytechnic Institute (math 71% / reading 84%, grade A-, #22 of 222 statewide, top 10%, 1,555 students, 43% FRL) — zoned schools average 52% FRL vs 79% district-wide (27 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 41% at this address vs 12% district-wide (+30 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 rising (+1.3%/yr); 393 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 33% 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 $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 + 1.3% rent growth), your $45k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($158k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1925 — 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 $157,501 (1.5% below list)

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.55% ✓
• Cap rate: 12.53%
• Cash-on-cash: 22.28%
• DSCR: 1.99
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $306,944
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
615 Ponca St	0.11mi	3/2.0	1,386 (-2%)	2mo	$300,000	$216	87
628 Savage St S	0.03mi	3/2.0	1,482 (+5%)	0mo	$190,000	$128	86
737 S Macon St	0.22mi	3/3.0	1,376 (-2%)	1mo	$335,000	$243	77
432 Bonsal St	0.40mi	3/1.0	1,364 (-3%)	2mo	$174,000	$128	74
606 S Lehigh St	0.29mi	3/3.0	1,495 (+6%)	1mo	$270,000	$181	67
738 S Macon St	0.31mi	3/2.5	1,568 (+11%)	0mo	$348,000	$222	60
348 Elrino St	0.57mi	4/2.0 (+1)	1,460 (+4%)	2mo	$210,000	$144	57
813 Fagley St	0.62mi	3/1.5	1,260 (-10%)	2mo	$280,000	$222	50
808 S Eaton St	0.69mi	2/2.0 (-1)	1,488 (+6%)	1mo	$325,000	$218	48
3820 Hudson St	0.66mi	2/2.0 (-1)	1,316 (-6%)	1mo	$298,900	$227	48
902 Grundy St	0.61mi	3/2.0	1,588 (+13%)	1mo	$352,500	$222	46
416 Imla St	0.74mi	3/1.5	1,608 (+14%)	2mo	$240,000	$149	38

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: 13.1%
• Equity multiple: 1.51×
• Total profit: $22,949
• Equity at exit: $23,842

10-year hold

• IRR: 20.6%
• Equity multiple: 2.61×
• Total profit: $71,946
• Equity at exit: $13,825

Cash invested: $44,772 (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: 393
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $2,475 high
• Mortgage (P&I): −$839
• Tax from tax record: −$219 /mo · $2,624/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$520
• Net cashflow: $831

Break-even live

Break-even rent $1,423

Max offer price $159,900

Occupancy floor 61%

Sensitivity live

Price	-10% $922	-5% $877	+0% $831	+5% $786	+10% $741
Rent	-10% $636	-5% $734	+0% $831	+5% $929	+10% $1,027
Rate	-1.0pp $912	-0.5pp $872	base $831	+0.5pp $790	+1.0pp $748

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
523 Rappolla St Baltimore, MD	3.0	2.0	1650	$2,100	$1.27	25d	1	0.03mi
611 Oldham St Baltimore, MD	2.0	1.0	1148	$1,800	$1.57	14d	1	0.14mi
708 Umbra St Baltimore, MD	3.0	1.5	1274	$2,000	$1.57	19d	1	0.16mi
608 Oldham St Baltimore, MD	3.0	3.5	1640	$2,500	$1.52	25d	1	0.16mi
727 S Macon St Baltimore, MD	3.0	2.5	1600	$3,450	$2.16	45d	1	0.20mi
410 S Newkirk St Baltimore, MD	2.0	1.5	1330	$1,580	$1.19	45d	1	0.24mi
560 Bayview Blvd Baltimore, MD	1.0–3.0	1.0–3.0	1108	$3,372	$3.04	4d	25	0.24mi
527 S Lehigh St Baltimore, MD	3.0	2.0	1320	$2,325	$1.76	45d	1	0.26mi
4505 Foster Ave Baltimore, MD	3.0	3.0	1376	$2,650	$1.93	25d	1	0.29mi
4500 Fait Ave Baltimore, MD	3.0	3.5	1792	$2,800	$1.56	45d	1	0.31mi
230 S Newkirk St Baltimore, MD	3.0	3.5	1600	$3,000	$1.88	19d	1	0.31mi
228 S Newkirk St Baltimore, MD	3.0	3.5	1620	$3,000	$1.85	45d	1	0.32mi
224 S Newkirk St Baltimore, MD	3.0	3.5	1600	$3,300	$2.06	22d	1	0.32mi
133 S Macon St Baltimore, MD	2.0	2.5	1440	$2,400	$1.67	19d	1	0.41mi
502 S Haven St Baltimore, MD	2.0	2.5	1440	$2,400	$1.67	18d	1	0.51mi
502 S Haven St Baltimore, MD	2.0	2.5	1440	$2,400	$1.67	25d	1	0.51mi
4015 Eastern Ave Unit 2L Baltimore, MD	3.0	2.0	1100	$1,800	$1.64	45d	1	0.53mi
301 Cornwall St Baltimore, MD	4.0	2.0	1520	$2,750	$1.81	12d	1	0.54mi
301 Cornwall St Baltimore, MD	4.0	2.0	1520	$2,900	$1.91	45d	1	0.54mi
611 Grundy St Baltimore, MD	3.0	2.0	1434	$2,700	$1.88	25d	1	0.54mi
335 Drew St Unit 1 Baltimore, MD	2.0	1.0	1460	$1,600	$1.10	25d	1	0.56mi
1207 Anglesea St Baltimore, MD	2.0	2.0	1162	$2,150	$1.85	6d	1	0.58mi
3905 Bank St Baltimore, MD	4.0	1.0–3.0	909	$2,820	$3.10	4d	20	0.60mi
442 Folcroft St Unit A Baltimore, MD	2.0	1.5	1071	$1,600	$1.49	5d	1	0.60mi
434 Folcroft St Unit A Baltimore, MD	3.0	1.5	1260	$1,500	$1.19	45d	1	0.60mi
328 Folcroft St Baltimore, MD	3.0	2.0	1460	$2,300	$1.58	25d	1	0.64mi
3850 Boston St Baltimore, MD	2.0	1.0–2.0	854	$3,378	$3.96	4d	22	0.64mi
340 Gusryan St Baltimore, MD	3.0	2.0	1300	$2,500	$1.92	45d	1	0.68mi
338 Gusryan St Baltimore, MD	2.0	1.5	1218	$1,700	$1.40	25d	1	0.68mi
416 Hornel St Unit 2 Baltimore, MD	2.0	1.0	1470	$1,400	$0.95	25d	1	0.70mi
1211 S Eaton St Unit 3035 Baltimore, MD	3.0	2.0	1545	$3,900	$2.52	25d	1	0.72mi
115 S Eaton St Baltimore, MD	3.0	2.5	1393	$1,800	$1.29	18d	1	0.75mi
3610 Dillon St Baltimore, MD	1.0–2.0	1.0–2.0	828	$2,820	$3.41	45d	1	0.77mi
3710 E Pratt St Baltimore, MD	2.0	3.5	1230	$1,900	$1.54	25d	1	0.78mi
3700 Toone St Baltimore, MD	1.0–2.0	1.0–2.0	1093	$3,218	$2.94	3d	28	0.81mi
939 S Baylis St Baltimore, MD	3.0	3.0	1606	$3,500	$2.18	19d	1	0.84mi
334 Kane St Baltimore, MD	2.0	2.0	1050	$1,675	$1.60	25d	1	0.87mi
3518 Elliott St Baltimore, MD	3.0	2.5	1036	$2,800	$2.70	19d	1	0.87mi
400 S Highland Ave Unit 402 Baltimore, MD	2.0	1.0	900	$1,700	$1.89	45d	1	0.88mi
822 S Highland Ave Baltimore, MD	4.0	3.0	1508	$3,500	$2.32	23d	1	0.88mi

Listing history 4 events

1. 2026-04-29
   status Pending
2. 2026-04-28
   historical Active Under Contract
3. 2026-04-09
   listed $159,900 Active
4. 2026-04-03
   historical $159,900

ⓘ 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: $2,624 · $219/mo
• Projected year-2 tax: $2,624 · $219/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: $29,699
• − Mortgage interest: −$8,957
• − Property taxes: −$2,624
• − Insurance: −$800
• − Repairs & maintenance: −$2,376
• − Management: −$2,376
• − Depreciation: −$4,652
• Taxable income: $7,915
• Est. tax owed @ 24.0%: −$1,900
• After-tax cash flow: $8,077/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

+0.0% since first listed

4 events — show timeline

• 2026-04-29 Pending — BRIGHT MLS
• 2026-04-28 Contingent — BRIGHT MLS
• 2026-04-09 Listed $159,900 BRIGHT MLS
• 2026-04-03 Coming Soon $159,900 BRIGHT MLS

Property tax history

+0.1%/yr

Latest (2025): $2,624 · +4.7% YoY. Source: county tax records.