3529 E Fayette St E · Baltimore, MD 21224

$67,000

2 bd · 1.0 ba · 912 sqft · Townhouse public records · 126 Days on market

Built 1900 1,232 sqft lot $73/sqft · 28% below area Est $93k · 28% 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 MLS

Property is being sold AS-IS. Buyer is responsible for removing all remaining garbage and debris. Buyer must bring appropriate tools, including a drill, to remove the front board in order to gain entry to the property.

Key facts

• Built 1900
• Listed 125 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $67k.

Deal economics

• At list price, monthly cash flow is $832 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $67k).
• Recommended offer: $59k (12.0% below list) — sets the bar for market timing.
• Cap rate 21.2% 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); 393 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); solid renter incomes; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $463 of loan paydown is wiped out by about $2k 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 $19k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 126 days — a 12% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 30y ago; this cycle's ask has dropped $16k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $26k; list at $67k implies a 153% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; 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 $58,960 (12.0% below list)

Questions for the listing agent

1. It's been on market 126 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 2.64% ✓
• Cap rate: 21.20%
• Cash-on-cash: 53.23%
• DSCR: 3.37
• GRM: 3.2

CMA / ARV

• ARV (median comp): $93,469
• List price: $67,000
• Delta: -28.32%
• 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
615 N Clinton St	0.31mi	2/1.0	920 (+1%)	3mo	$60,500	$66	82
3534 E Fairmount Ave	0.07mi	2/1.0	1,018 (+12%)	2mo	$86,000	$84	76
155 N Streeper St	0.48mi	2/2.0	912 (0%)	0mo	$220,000	$241	74
441 N East Ave	0.26mi	3/1.5 (+1)	976 (+7%)	2mo	$175,000	$179	68
530 N Curley St	0.47mi	3/1.0 (+1)	960 (+5%)	2mo	$85,000	$89	63
124 N Janney St	0.37mi	2/1.0	792 (-13%)	2mo	$63,800	$81	59
26 N Decker Ave	0.36mi	2/1.0	1,040 (+14%)	2mo	$175,000	$168	58
423 N Curley St	0.43mi	3/1.0 (+1)	1,008 (+10%)	4mo	$55,000	$55	55
20 N Decker Ave	0.36mi	3/1.0 (+1)	1,040 (+14%)	2mo	$149,000	$143	53
309 S Fagley St	0.47mi	2/2.0	1,030 (+13%)	1mo	$225,000	$218	52
735 N Lakewood Ave	0.70mi	3/1.5 (+1)	970 (+6%)	2mo	$80,000	$82	48
820 N Streeper St	0.66mi	3/2.0 (+1)	1,008 (+10%)	3mo	$70,000	$69	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 · 1.31% rent growth · sell at horizon

5-year hold

• IRR: 49.3%
• Equity multiple: 3.09×
• Total profit: $39,279
• Equity at exit: $9,990

10-year hold

• IRR: 54.1%
• Equity multiple: 5.86×
• Total profit: $91,093
• Equity at exit: $5,793

Cash invested: $18,760 (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: 3.2×

Monthly cashflow live

• Estimated rent: $1,766 high
• Mortgage (P&I): −$351
• Tax from tax record: −$184 /mo · $2,208/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $832

Break-even live

Break-even rent $713

Max offer price $67,000

Occupancy floor 48%

Sensitivity live

Price	-10% $870	-5% $851	+0% $832	+5% $813	+10% $794
Rent	-10% $693	-5% $762	+0% $832	+5% $902	+10% $972
Rate	-1.0pp $866	-0.5pp $849	base $832	+0.5pp $815	+1.0pp $797

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: $16,750
• Closing costs: $2,010
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3344 E Baltimore St Unit 2 Baltimore, MD	1.0	1.0	545	$1,250	$2.29	45d	1	0.18mi
3205 Esther Pl Baltimore, MD	2.0	2.0	960	$1,850	$1.93	25d	1	0.22mi
3413 Leverton Ave Baltimore, MD	2.0	1.0	832	$1,000	$1.20	25d	1	0.23mi
203 N Ellwood Ave Unit Main Baltimore, MD	2.0	2.0	880	$2,200	$2.50	25d	1	0.28mi
29 N Ellwood Ave Baltimore, MD	3.0	1.5	1100	$2,395	$2.18	25d	1	0.31mi
201 S Conkling St Baltimore, MD	1.0	1.0	740	$1,500	$2.03	3d	2	0.36mi
520 N Decker Ave Baltimore, MD	2.0	1.0	1000	$1,650	$1.65	45d	1	0.39mi
223 Grundy St Baltimore, MD	2.0	1.0	864	$1,450	$1.68	25d	1	0.43mi
321 Fagley St Baltimore, MD	2.0	1.0	800	$1,650	$2.06	21d	1	0.50mi
400 S Conkling St Unit 3 Baltimore, MD	1.0	1.0	700	$1,700	$2.43	45d	1	0.52mi
400 S Highland Ave Unit 402 Baltimore, MD	2.0	1.0	900	$1,700	$1.89	45d	1	0.53mi
415 N Belnord Ave Baltimore, MD	2.0	1.0	1008	$1,300	$1.29	25d	1	0.57mi
3905 Bank St Baltimore, MD	4.0	1.0–3.0	909	$2,350	$2.58	3d	20	0.58mi
3232 Eastern Ave Baltimore, MD	1.0	1.5	874	$2,260	$2.59	3d	1	0.58mi
531 N Belnord Ave Baltimore, MD	2.0	1.5	1100	$1,700	$1.55	25d	1	0.59mi
3235 Eastern Ave Unit 2FL Baltimore, MD	1.0	1.0	552	$1,795	$3.25	5d	1	0.61mi
127 N Glover St Baltimore, MD	2.0	1.5	1110	$2,100	$1.89	4d	1	0.63mi
415 N Glover St Baltimore, MD	2.0	2.5	1092	$1,600	$1.47	25d	1	0.64mi
4015 Eastern Ave Unit 2L Baltimore, MD	3.0	2.0	1100	$1,800	$1.64	45d	1	0.64mi
2608 E Fayette St Unit 1 Baltimore, MD	2.0	1.0	900	$1,700	$1.89	16d	1	0.64mi
502 N Glover St Baltimore, MD	2.0	1.5	827	$1,250	$1.51	21d	1	0.67mi
3801 Fleet St Unit 209 Baltimore, MD	1.0	1.5	814	$1,899	$2.33	45d	1	0.68mi
2729 Ashland Ave Baltimore, MD	3.0	1.0	1000	$1,350	$1.35	4d	1	0.70mi
233 N Rose St Baltimore, MD	2.0	2.5	934	$1,750	$1.87	19d	1	0.71mi
224 N Rose St Baltimore, MD	2.0	2.5	1120	$1,875	$1.67	19d	1	0.72mi
104 N Rose St Baltimore, MD	3.0	2.0	936	$2,500	$2.67	45d	1	0.73mi
400 N Rose St #1 Baltimore, MD	1.0	1.0	588	$1,080	$1.84	45d	1	0.73mi
517 N Rose St Baltimore, MD	3.0	1.0	845	$1,400	$1.66	5d	1	0.73mi
402 N Milton Ave Unit 402B Baltimore, MD	2.0	1.0	950	$1,290	$1.36	45d	1	0.77mi
107 N Port St Baltimore, MD	2.0	2.0	870	$1,995	$2.29	25d	1	0.79mi
643 S Potomac St Baltimore, MD	2.0	1.0	785	$1,650	$2.10	45d	1	0.80mi
3200 Fait Ave Baltimore, MD	1.0	1.0	800	$1,700	$2.12	3d	1	0.80mi
437 N Montford Ave Baltimore, MD	3.0	1.5	1100	$1,450	$1.32	45d	1	0.83mi
1310 N Ellwood Ave #1 Baltimore, MD	2.0	1.0	1000	$1,550	$1.55	23d	1	0.86mi
1310 N Ellwood Ave Baltimore, MD	2.0	1.0	1000	$1,450	$1.45	13d	1	0.86mi
720 N Port St Baltimore, MD	2.0	1.0	950	$1,300	$1.37	45d	1	0.87mi
16 N Bradford St Baltimore, MD	2.0	3.5	930	$2,400	$2.58	5d	1	0.88mi
618 N Montford Ave Baltimore, MD	3.0	1.0	1050	$1,468	$1.40	16d	1	0.88mi
618 N Montford Ave Baltimore, MD	3.0	1.0	1050	$1,468	$1.40	45d	1	0.88mi
2308 Jefferson St Baltimore, MD	3.0	1.0	907	$1,450	$1.60	45d	1	0.89mi

Listing history 23 events

1. 2026-06-15
   days on market $67,000 Active 126 DOM
2. 2026-06-13
   days on market $67,000 Active 124 DOM
3. 2026-06-09
   days on market $67,000 Active 120 DOM
4. 2026-06-08
   days on market $67,000 Active 119 DOM
5. 2026-06-07
   days on market $67,000 Active 118 DOM
6. 2026-06-04
   days on market $67,000 Active 115 DOM
7. 2026-06-03
   days on market $67,000 Active 114 DOM
8. 2026-06-02
   days on market $67,000 Active 113 DOM
9. 2026-06-01
   days on market $67,000 Active 112 DOM
10. 2026-05-31
    days on market $67,000 Active 111 DOM
11. 2026-04-15
    price $67,000 218-char remark

    Show marketing remark (218 chars)

    Property is being sold AS-IS. Buyer is responsible for removing all remaining garbage and debris. Buyer must bring appropriate tools, including a drill, to remove the front board in order to gain entry to the property.

12. 2026-02-09
    listed $83,000 Active 218-char remark

    Show marketing remark (218 chars)

    Property is being sold AS-IS. Buyer is responsible for removing all remaining garbage and debris. Buyer must bring appropriate tools, including a drill, to remove the front board in order to gain entry to the property.

13. 2003-08-21
    soldstatus $26,500
14. 2003-03-18
    historical
15. 2003-02-27
    listed $26,500
16. 1997-06-13
    soldstatus $44,900
17. 1997-05-23
    soldstatus $44,900
18. 1997-04-12
    historical
19. 1997-03-26
    listed $44,900
20. 1996-11-16
    historical
21. 1996-08-16
    historical
22. 1996-05-17
    listed
23. 1996-05-17
    listed

ⓘ 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: $2,208 · $184/mo
• Projected year-2 tax: $2,208 · $184/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 3/10 Moderate FEMA zone X (unshaded) · 10% 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: $21,196
• − Mortgage interest: −$3,753
• − Property taxes: −$2,208
• − Insurance: −$335
• − Repairs & maintenance: −$1,696
• − Management: −$1,696
• − Depreciation: −$1,949
• Taxable income: $9,560
• Est. tax owed @ 24.0%: −$2,294
• After-tax cash flow: $7,692/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

+49.2% since first listed

13 events — show timeline

• 2026-04-15 Price Changed $67,000 BRIGHT MLS
• 2026-02-09 Listed $83,000 BRIGHT MLS
• 2003-08-21 Sold (MLS) $26,500 MRIS
• 2003-03-18 Delisted — MRIS
• 2003-02-27 Listed $26,500 MRIS
• 1997-06-13 Sold (Public Records) $44,900 Public Records
• 1997-05-23 Sold (MLS) $44,900 MRIS
• 1997-04-12 Delisted — MRIS
• 1997-03-26 Listed $44,900 MRIS
• 1996-11-16 Delisted — MRIS
• 1996-08-16 Delisted — MRIS
• 1996-05-17 Listed — MRIS
• 1996-05-17 Listed — MRIS

Property tax history

-0.1%/yr

Latest (2025): $2,208 · +6.3% YoY. Source: county tax records.