535 N Decker Ave · Baltimore, MD 21205

$150,000

4 bd · 1.5 ba · 1,538 sqft · Townhouse public records · 283 Days on market

Built 1915 Est $272k · 45% 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
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• Rent growth +5.0/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nestled in the vibrant heart of Baltimore City, this charming brick corner home presents a remarkable investment opportunity. With its prime location near lush parks and playful playgrounds, this property promises a blend of urban convenience and serene leisure, perfect for those looking to capitalize on Baltimore's dynamic real estate market. The corner positioning not only enhances privacy but also floods the interior with natural light, creating a warm and inviting atmosphere throughout. Inside, prospective investors will find a spacious layout, offering ample room for customization and improvement to maximize rental potential or resale value. this Baltimore city gem is poised to be a wise addition to any investment portfolio.

Key facts

• Built 1915
• Listed 283 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath townhouse listed at $150k.

Deal economics

• At list price, monthly cash flow is $648 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.5% 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: 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 (+9.9%/yr); 143 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• At $2,189/mo this rent would consume 61% of the median local household income ($43k/yr) (locally 966% 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 $4k 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 + 8.0% rent growth), your $42k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 283 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 22y 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 $70k; list at $150k implies a 114% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — 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 $132,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 283 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 1915 — 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: 1.46% ✓
• Cap rate: 11.48%
• Cash-on-cash: 18.51%
• DSCR: 1.82
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $272,226
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3019 Mcelderry St	0.02mi	4/2.5	1,674 (+9%)	1mo	$244,000	$146	79
4 S East Ave	0.41mi	3/2.5 (-1)	1,547 (+1%)	1mo	$325,000	$210	70
3202 Mcelderry St	0.13mi	3/2.5 (-1)	1,684 (+10%)	1mo	$185,000	$110	68
3102 E Lombard St	0.45mi	3/3.0 (-1)	1,540 (+0%)	1mo	$405,000	$263	67
36 N Decker Ave	0.31mi	3/2.0 (-1)	1,430 (-7%)	0mo	$325,000	$227	67
220 N Luzerne Ave	0.39mi	3/1.0 (-1)	1,372 (-11%)	1mo	$120,000	$87	56
118 S Eaton St	0.66mi	3/3.5 (-1)	1,569 (+2%)	1mo	$330,000	$210	52
38 S Curley St	0.45mi	3/1.0 (-1)	1,729 (+12%)	0mo	$181,100	$105	51
2534 E Baltimore St	0.51mi	3/3.0 (-1)	1,685 (+10%)	0mo	$495,000	$294	49
1411 Kenhill Ave	0.70mi	4/2.0	1,356 (-12%)	1mo	$240,000	$177	45
2317 E Fayette St E	0.59mi	3/1.5 (-1)	1,315 (-14%)	1mo	$210,000	$160	42
1418 N Linwood Ave	0.71mi	3/1.0 (-1)	1,356 (-12%)	0mo	$90,000	$66	40

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 15.9%
• Equity multiple: 1.68×
• Total profit: $28,587
• Equity at exit: $22,365

10-year hold

• IRR: 28.1%
• Equity multiple: 4.12×
• Total profit: $130,926
• Equity at exit: $12,969

Cash invested: $42,000 (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 21205

• Home prices YoY: -5.8%
• Rents YoY: 9.9%
• Active inventory: 143
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $2,189 high
• Mortgage (P&I): −$787
• Tax from tax record: −$232 /mo · $2,788/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$460
• Net cashflow: $648

Break-even live

Break-even rent $1,369

Max offer price $150,000

Occupancy floor 65%

Sensitivity live

Price	-10% $733	-5% $690	+0% $648	+5% $605	+10% $563
Rent	-10% $475	-5% $561	+0% $648	+5% $734	+10% $821
Rate	-1.0pp $723	-0.5pp $686	base $648	+0.5pp $609	+1.0pp $569

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2903 Jefferson St Baltimore, MD	3.0	3.0	1609	$1,850	$1.15	44d	1	0.13mi
404 N Robinson St Baltimore, MD	3.0	3.0	1320	$2,100	$1.59	16d	1	0.14mi
404 N Robinson St Baltimore, MD	3.0	3.0	1320	$2,200	$1.67	24d	1	0.14mi
3304 McElderry St Baltimore, MD	3.0	2.0	1413	$1,900	$1.34	44d	1	0.15mi
718 N Curley St Baltimore, MD	3.0	3.0	1500	$2,000	$1.33	5d	1	0.17mi
724 N Curley St Baltimore, MD	3.0	3.0	1500	$2,200	$1.47	5d	1	0.17mi
809 N Curley St Baltimore, MD	3.0	1.0	1746	$1,400	$0.80	22d	1	0.21mi
2800 Orleans St Baltimore, MD	3.0	1.0	1404	$1,600	$1.14	15d	1	0.23mi
2800 Orleans St Baltimore, MD	3.0	1.0	1404	$1,600	$1.14	18d	1	0.23mi
2815 E Madison St Baltimore, MD	4.0	2.0	1300	$2,500	$1.92	44d	1	0.24mi
228 N Kenwood Ave Baltimore, MD	5.0	2.0	1901	$2,200	$1.16	4d	1	0.28mi
533 N Lakewood Ave Baltimore, MD	4.0	3.5	1758	$4,500	$2.56	44d	1	0.28mi
537 N Lakewood Ave Baltimore, MD	3.0	3.5	1755	$2,050	$1.17	44d	1	0.28mi
627 N Lakewood Ave Baltimore, MD	3.0	2.5	1175	$1,900	$1.62	22d	1	0.28mi
113 N Decker Ave Baltimore, MD	3.0	3.5	1800	$2,850	$1.58	24d	1	0.29mi
29 N Ellwood Ave Baltimore, MD	3.0	1.5	1100	$2,395	$2.18	24d	1	0.33mi
2608 McElderry St Baltimore, MD	3.0	1.0	1144	$1,550	$1.35	24d	1	0.35mi
539 N Luzerne Ave Baltimore, MD	3.0	2.5	1702	$2,300	$1.35	44d	1	0.35mi
10 N Ellwood Ave Baltimore, MD	4.0	2.5	1768	$2,500	$1.41	44d	1	0.36mi
139 N Lakewood Ave Baltimore, MD	4.0	2.5	1370	$2,500	$1.82	44d	1	0.38mi
139 N Lakewood Ave Unit 1 Baltimore, MD	4.0	2.0	1370	$2,500	$1.82	44d	1	0.38mi
2619 E Fayette St Baltimore, MD	3.0	2.0	1600	$1,900	$1.19	44d	1	0.39mi
11 N Streeper St Baltimore, MD	3.0	3.5	1800	$2,600	$1.44	44d	1	0.39mi
233 N Luzerne Ave Baltimore, MD	3.0	2.5	1700	$2,250	$1.32	22d	1	0.39mi
225 N Luzerne Ave Baltimore, MD	3.0	1.0	1198	$1,350	$1.13	19d	1	0.40mi
1 N Clinton St Baltimore, MD	4.0	1.5	1200	$1,700	$1.42	20d	1	0.40mi
10 N Streeper St Baltimore, MD	3.0	2.5	1440	$2,500	$1.74	24d	1	0.40mi
3304 E Baltimore St Baltimore, MD	3.0	1.5	1514	$1,875	$1.24	44d	1	0.41mi
425 N Milton Ave Baltimore, MD	3.0	1.0	1200	$1,525	$1.27	15d	1	0.44mi
3430 E Baltimore St Baltimore, MD	3.0	2.5	1316	$2,250	$1.71	24d	1	0.47mi
2431 McElderry St Baltimore, MD	4.0	2.5	1600	$2,100	$1.31	44d	1	0.47mi
9 N Luzerne Ave Baltimore, MD	3.0	2.5	1380	$2,450	$1.78	5d	1	0.50mi
437 N Montford Ave Baltimore, MD	3.0	1.5	1100	$1,450	$1.32	44d	1	0.51mi
1215 N Ellwood Ave Baltimore, MD	3.0	1.0	1128	$1,795	$1.59	24d	1	0.52mi
3436 Leverton Ave Baltimore, MD	3.0	3.5	1500	$2,350	$1.57	24d	1	0.52mi
618 N Montford Ave Baltimore, MD	3.0	1.0	1050	$1,468	$1.40	15d	1	0.53mi
618 N Montford Ave Baltimore, MD	3.0	1.0	1050	$1,468	$1.40	44d	1	0.53mi
420 N Montford Ave Baltimore, MD	3.0	1.0	1350	$1,450	$1.07	44d	1	0.54mi
2410 E Fayette St Baltimore, MD	3.0	1.0	1224	$1,800	$1.47	44d	1	0.54mi
3502 E Lombard St Baltimore, MD	3.0	2.0	1522	$1,870	$1.23	44d	1	0.55mi

Listing history 16 events

1. 2026-03-27
   status Pending
2. 2025-06-17
   listed $150,000 Active
3. 2024-09-19
   soldstatus $70,000
4. 2024-06-28
   soldstatus $70,000 Closed 739-char remark

   Show marketing remark (739 chars)

   Nestled in the vibrant heart of Baltimore City, this charming brick corner home presents a remarkable investment opportunity. With its prime location near lush parks and playful playgrounds, this property promises a blend of urban convenience and serene leisure, perfect for those looking to capitalize on Baltimore's dynamic real estate market. The corner positioning not only enhances privacy but also floods the interior with natural light, creating a warm and inviting atmosphere throughout. Inside, prospective investors will find a spacious layout, offering ample room for customization and improvement to maximize rental potential or resale value. this Baltimore city gem is poised to be a wise addition to any investment portfolio.

5. 2024-05-22
   status Pending 739-char remark

   Show marketing remark (739 chars)

   Nestled in the vibrant heart of Baltimore City, this charming brick corner home presents a remarkable investment opportunity. With its prime location near lush parks and playful playgrounds, this property promises a blend of urban convenience and serene leisure, perfect for those looking to capitalize on Baltimore's dynamic real estate market. The corner positioning not only enhances privacy but also floods the interior with natural light, creating a warm and inviting atmosphere throughout. Inside, prospective investors will find a spacious layout, offering ample room for customization and improvement to maximize rental potential or resale value. this Baltimore city gem is poised to be a wise addition to any investment portfolio.

6. 2024-04-19
   price $79,000 739-char remark

   Show marketing remark (739 chars)

   Nestled in the vibrant heart of Baltimore City, this charming brick corner home presents a remarkable investment opportunity. With its prime location near lush parks and playful playgrounds, this property promises a blend of urban convenience and serene leisure, perfect for those looking to capitalize on Baltimore's dynamic real estate market. The corner positioning not only enhances privacy but also floods the interior with natural light, creating a warm and inviting atmosphere throughout. Inside, prospective investors will find a spacious layout, offering ample room for customization and improvement to maximize rental potential or resale value. this Baltimore city gem is poised to be a wise addition to any investment portfolio.

7. 2024-04-19
   status Active 739-char remark

   Show marketing remark (739 chars)

   Nestled in the vibrant heart of Baltimore City, this charming brick corner home presents a remarkable investment opportunity. With its prime location near lush parks and playful playgrounds, this property promises a blend of urban convenience and serene leisure, perfect for those looking to capitalize on Baltimore's dynamic real estate market. The corner positioning not only enhances privacy but also floods the interior with natural light, creating a warm and inviting atmosphere throughout. Inside, prospective investors will find a spacious layout, offering ample room for customization and improvement to maximize rental potential or resale value. this Baltimore city gem is poised to be a wise addition to any investment portfolio.

8. 2024-02-22
   historical 739-char remark

   Show marketing remark (739 chars)

   Nestled in the vibrant heart of Baltimore City, this charming brick corner home presents a remarkable investment opportunity. With its prime location near lush parks and playful playgrounds, this property promises a blend of urban convenience and serene leisure, perfect for those looking to capitalize on Baltimore's dynamic real estate market. The corner positioning not only enhances privacy but also floods the interior with natural light, creating a warm and inviting atmosphere throughout. Inside, prospective investors will find a spacious layout, offering ample room for customization and improvement to maximize rental potential or resale value. this Baltimore city gem is poised to be a wise addition to any investment portfolio.

9. 2024-02-21
   listed $100,000 Active 739-char remark

   Show marketing remark (739 chars)

   Nestled in the vibrant heart of Baltimore City, this charming brick corner home presents a remarkable investment opportunity. With its prime location near lush parks and playful playgrounds, this property promises a blend of urban convenience and serene leisure, perfect for those looking to capitalize on Baltimore's dynamic real estate market. The corner positioning not only enhances privacy but also floods the interior with natural light, creating a warm and inviting atmosphere throughout. Inside, prospective investors will find a spacious layout, offering ample room for customization and improvement to maximize rental potential or resale value. this Baltimore city gem is poised to be a wise addition to any investment portfolio.

10. 2024-02-07
    historical $100,000 739-char remark

    Show marketing remark (739 chars)

    Nestled in the vibrant heart of Baltimore City, this charming brick corner home presents a remarkable investment opportunity. With its prime location near lush parks and playful playgrounds, this property promises a blend of urban convenience and serene leisure, perfect for those looking to capitalize on Baltimore's dynamic real estate market. The corner positioning not only enhances privacy but also floods the interior with natural light, creating a warm and inviting atmosphere throughout. Inside, prospective investors will find a spacious layout, offering ample room for customization and improvement to maximize rental potential or resale value. this Baltimore city gem is poised to be a wise addition to any investment portfolio.

11. 2008-01-31
    soldstatus $76,000
12. 2006-03-10
    historical
13. 2005-10-10
    listed
14. 2004-05-26
    soldstatus $16,100
15. 2004-03-15
    historical
16. 2004-03-05
    listed $14,000

ⓘ 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: $2,788 · $232/mo
• Projected year-2 tax: $2,788 · $232/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: $26,268
• − Mortgage interest: −$8,402
• − Property taxes: −$2,788
• − Insurance: −$750
• − Repairs & maintenance: −$2,101
• − Management: −$2,101
• − Depreciation: −$4,364
• Taxable income: $5,761
• Est. tax owed @ 24.0%: −$1,383
• After-tax cash flow: $6,392/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): 13,013
• Household income: $43,176
• Rent vs Own: 63.6% rent · 36.4% own
• Severe rent burden: 966.0

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 0.60)
• Race & ethnicity: Black 60% Hispanic / Latino 16% White 14% Two or more races 11% Asian 3%
• Hispanic origin (detail): Mexican 1% Cuban 1% Dominican 4%
• Common ancestry: Slovak 3% Romanian 1%
• Foreign-born: 16% · Canada, China
• Languages at home: 79% English-only · Spanish 11% Arabic 4% 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: ▼ -15.03%
• Current HPI: 244.1345
• Rent YoY: ▲ 9.88%
• 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

+971.4% since first listed

16 events — show timeline

• 2026-03-27 Pending — BRIGHT MLS
• 2025-06-17 Listed $150,000 BRIGHT MLS
• 2024-09-19 Sold (Public Records) $70,000 Public Records
• 2024-06-28 Sold (MLS) $70,000 BRIGHT MLS
• 2024-05-22 Pending — BRIGHT MLS
• 2024-04-19 Price Changed $79,000 BRIGHT MLS
• 2024-04-19 Relisted — BRIGHT MLS
• 2024-02-22 Listing Removed — BRIGHT MLS
• 2024-02-21 Listed $100,000 BRIGHT MLS
• 2024-02-07 Coming Soon $100,000 BRIGHT MLS
• 2008-01-31 Sold (Public Records) $76,000 Public Records
• 2006-03-10 Delisted — MRIS
• 2005-10-10 Listed — MRIS
• 2004-05-26 Sold (MLS) $16,100 MRIS
• 2004-03-15 Delisted — MRIS
• 2004-03-05 Listed $14,000 MRIS

Property tax history

+8.4%/yr

Latest (2025): $2,788 · +332.6% YoY. Source: county tax records.