1607 Elrino St · Baltimore, MD 21224

$95,000

3 bd · 1.0 ba · 1,224 sqft · SingleFamily public records · 15 Days on market

Built 1936 4,125 sqft lot

---

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

Investor opportunity! Detached 3-bedroom, 1-bath colonial located on the Baltimore City side of Dundalk. Property requires full renovation and is being sold strictly as-is. Features include an unfinished basement, 4,125 sq ft lot, and strong value-add potential. Cash or hard money financing only. Excellent opportunity for investors, flippers, or builders seeking a project in an area with strong renovated resale activity. Seller prefers a quick close. Buyer responsible for verifying all information and performing their own due diligence.

Key facts

• 4,125 sq ft lot
• Built 1936
• Listed 14 days

Property features AI

Finance

• Other: Ownership: Fee simple; Living area source: Assessor; Year built source: Assessor

Exterior

• Parking: Driveway parking
• Utilities: Public water; Public sewer
• Home design: Detached property; Above-grade finished area of 1,224 (per assessor); Below-grade unfinished area of 612 (per assessor); Located in city limits (Baltimore City)
• Construction: Aluminum siding; Block foundation; Structure type: Detached
• Exterior features: Driveway

Interior

• Bedrooms: Three bedrooms on the upper level
• Bathrooms: One full bathroom
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $893 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $94k (1.5% below list) — sets the bar for market timing.
• Cap rate 17.6% 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 (+1.3%/yr); 391 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); 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 $657 of loan paydown is wiped out by about $3k 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 $27k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $32k; list at $95k implies a 202% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1936 — 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 $93,575 (1.5% below list)

Questions for the listing agent

1. Built in 1936 — 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: 2.14% ✓
• Cap rate: 17.57%
• Cash-on-cash: 40.29%
• DSCR: 2.79
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $232,560
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1604 Charlotte Ave	0.03mi	3/2.0	1,100 (-10%)	2mo	$311,000	$283	76
6209 Danville Ave	0.09mi	3/1.0	1,050 (-14%)	3mo	$199,000	$190	70
6607 Hartwait St	0.38mi	3/1.5	1,220 (-0%)	22mo	$180,000	$148	62
103 Wells Ave	0.73mi	3/2.0	1,190 (-3%)	9mo	$220,000	$185	50
1818 Maxwell Ave	0.69mi	3/2.0	1,320 (+8%)	4mo	$275,000	$208	47
6705 Gary Ave	0.58mi	3/1.0	1,370 (+12%)	7mo	$225,000	$164	47
6625 Hudson St	0.73mi	4/2.5 (+1)	1,140 (-7%)	1mo	$166,000	$146	43
6620 Bushey St	0.74mi	3/2.0	1,392 (+14%)	6mo	$305,000	$219	33
6610 Bushey St	0.70mi	3/2.0	1,376 (+12%)	17mo	$295,000	$214	28

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: 34.7%
• Equity multiple: 2.43×
• Total profit: $38,152
• Equity at exit: $14,165

10-year hold

• IRR: 40.6%
• Equity multiple: 4.51×
• Total profit: $93,236
• Equity at exit: $8,214

Cash invested: $26,600 (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: 391
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $2,036 high
• Mortgage (P&I): −$498
• Tax from tax record: −$178 /mo · $2,132/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $893

Break-even live

Break-even rent $906

Max offer price $95,000

Occupancy floor 51%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1613 Elrino St Baltimore, MD	2.0	1.0	700	$1,350	$1.93	43d	1	0.02mi
1504 Elrino St Baltimore, MD	2.0	2.0	1050	$1,650	$1.57	4d	1	0.16mi
1207 Anglesea St Baltimore, MD	2.0	2.0	1162	$2,150	$1.85	4d	1	0.48mi
6722 Brentwood Ave Unit 2FL Dundalk, MD	3.0	1.0	900	$1,750	$1.94	43d	1	0.65mi
6710 Hudson St Baltimore, MD	4.0	4.0	1156	$3,500	$3.03	24d	1	0.79mi
2125 Cameron Dr Dundalk, MD	1.0–2.0	1.0	697	$1,350	$1.94	43d	9	0.86mi
708 Umbra St Baltimore, MD	3.0	1.5	1274	$2,000	$1.57	17d	1	0.91mi
560 Bayview Blvd Baltimore, MD	1.0–3.0	1.0–3.0	1108	$3,372	$3.04	2d	25	0.93mi
456 Elrino St Unit B Baltimore, MD	2.0	1.0	800	$1,600	$2.00	43d	1	0.95mi
442 Folcroft St Unit A Baltimore, MD	2.0	1.5	1071	$1,600	$1.49	3d	1	0.97mi
434 Folcroft St Unit A Baltimore, MD	3.0	1.5	1260	$1,500	$1.19	43d	1	0.99mi
1533 Leslie Rd Dundalk, MD	4.0	1.0	1270	$2,000	$1.57	43d	1	1.00mi
416 Hornel St Unit 2 Baltimore, MD	2.0	1.0	1470	$1,400	$0.95	24d	1	1.00mi
628 47th St Apt RW2 Baltimore, MD	2.0	1.0	750	$1,200	$1.60	11d	1	1.01mi
630 47th St Unit B Baltimore, MD	2.0	1.0	750	$1,200	$1.60	43d	1	1.01mi
363 Gusryan St Baltimore, MD	2.0	2.0	840	$1,950	$2.32	12d	1	1.05mi
340 Gusryan St Baltimore, MD	3.0	2.0	1300	$2,500	$1.92	43d	1	1.08mi
338 Gusryan St Baltimore, MD	2.0	1.5	1218	$1,700	$1.40	24d	1	1.08mi
334 Kane St Baltimore, MD	2.0	2.0	1050	$1,675	$1.60	24d	1	1.09mi
335 Drew St Unit 1 Baltimore, MD	2.0	1.0	1460	$1,600	$1.10	24d	1	1.09mi
328 Folcroft St Baltimore, MD	3.0	2.0	1460	$2,300	$1.58	24d	1	1.10mi
1955 Walnut Ave Dundalk, MD	3.0	1.0	950	$2,300	$2.42	43d	1	1.11mi
611 Oldham St Baltimore, MD	2.0	1.0	1148	$1,800	$1.57	12d	1	1.12mi
266 Saint Helena Ave Dundalk, MD	3.0	1.0	1305	$1,900	$1.46	12d	1	1.15mi
530 47th St Baltimore, MD	3.0	1.0	1424	$1,750	$1.23	24d	1	1.16mi
6552 Parnell Ave Dundalk, MD	2.0	1.5	885	$1,500	$1.69	17d	1	1.17mi
6905 Bank St Baltimore, MD	2.0	1.5	784	$1,650	$2.10	43d	1	1.17mi
4505 Foster Ave Baltimore, MD	3.0	3.0	1376	$2,650	$1.93	24d	1	1.18mi
3850 Boston St Baltimore, MD	2.0	1.0–2.0	854	$3,378	$3.96	2d	22	1.20mi
6802 Conley St Baltimore, MD	2.0	1.5	939	$1,750	$1.86	22d	1	1.22mi
527 S Lehigh St Baltimore, MD	3.0	2.0	1320	$2,325	$1.76	43d	1	1.23mi
6537 Baltimore Ave Baltimore, MD	3.0	1.0	1272	$1,700	$1.34	2d	1	1.24mi
6545 Baltimore Ave Dundalk, MD	2.0	1.0	852	$1,500	$1.76	43d	1	1.24mi
410 S Newkirk St Baltimore, MD	2.0	1.5	1330	$1,580	$1.19	43d	1	1.27mi
3700 Toone St Baltimore, MD	1.0–2.0	1.0–2.0	1093	$3,218	$2.94	1d	28	1.33mi
12 Leeway Dundalk, MD	3.0	1.0	1358	$1,750	$1.29	43d	1	1.40mi
611 Grundy St Baltimore, MD	3.0	2.0	1434	$2,700	$1.88	24d	1	1.42mi
1200 S Conkling St Baltimore, MD	1.0–2.0	1.0–2.0	1085	$2,933	$2.70	1d	16	1.43mi
7124 Gough St Baltimore, MD	2.0	1.5	1096	$1,700	$1.55	22d	1	1.43mi
502 S Haven St Baltimore, MD	2.0	2.5	1440	$2,400	$1.67	16d	1	1.44mi

Listing history 10 events

1. 2026-06-18
   days on market $95,000 Active 15 DOM
2. 2026-06-17
   days on market $95,000 Active 14 DOM
3. 2026-06-16
   days on market $95,000 Active 13 DOM
4. 2026-06-15
   days on market $95,000 Active 12 DOM
5. 2026-06-13
   pricedays on market $95,000 Active 10 DOM
6. 2026-06-09
   days on market $115,000 Active 6 DOM
7. 2026-06-08
   days on market $115,000 Active 5 DOM
8. 2026-06-07
   days on market $115,000 Active 4 DOM
9. 2026-06-04
   remarks 542-char remark
10. 2026-06-04
    listed $115,000 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: $2,132 · $178/mo
• Projected year-2 tax: $2,132 · $178/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 ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,434
• − Mortgage interest: −$5,321
• − Property taxes: −$2,132
• − Insurance: −$475
• − Repairs & maintenance: −$1,955
• − Management: −$1,955
• − Depreciation: −$2,764
• Taxable income: $9,833
• Est. tax owed @ 24.0%: −$2,360
• After-tax cash flow: $8,358/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

+265.1% since first listed

2 events — show timeline

• 2026-06-03 Listed $115,000 BRIGHT MLS
• 1982-01-14 Sold (Public Records) $31,500 Public Records

Property tax history

-0.0%/yr

Latest (2025): $2,132 · +4.8% YoY. Source: county tax records.