2516 W Pratt St · Baltimore, MD 21223

$114,900

3 bd · 1.0 ba · 1,512 sqft · Townhouse · 49 Days on market

Built 1900 $76/sqft · 62% above area ↓ 30% since listing

---

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
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• ARV discount +7.5/15.0
• Rent growth +4.4/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 2516 Pratt Street an all brick Baltimore rowhome that blends classic charm with practical space and everyday convenience. This nicely maintained residence offers a spacious layout with wood flooring throughout, creating a warm and cohesive feel from the moment you step inside. The home features generous living and dining areas. Downstairs, the basement provides a blank canvas an open palette ready for your vision, whether you’re looking to create additional living space, a home gym, or extra storage. Outside, enjoy a private, fenced in backyard, perfect for relaxing, gardening, or hosting gatherings. Conveniently located in West Baltimore, this home offers easy access to do

Key facts

• Built 1900
• Listed 48 days

Property features AI

Finance

• Other: Approximately 1,000 sq ft finished above grade (estimated); Approximately 512 sq ft finished below grade (estimated); Total below grade area approximately 512 sq ft; Year built source: Assessor; Ownership interest: Fee Simple

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Electric cooling; Natural gas for heating and hot water
• Home design: Interior townhouse/rowhouse; Fee simple ownership
• Construction: Brick construction; Other foundation
• Exterior features: No tidal water

Interior

• Kitchen: Stove; Dishwasher; Refrigerator
• Bedrooms: 3 bedrooms on the first upper level
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning (electric); Natural gas hot water
• Interior features: Traditional floor plan; Ceiling fans
• Laundry & utility: Washer; Dryer; Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $115k.

Deal economics

• At list price, monthly cash flow is $569 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $111k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.2% 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 fast (+7.5%/yr); 422 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); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• This rent runs 43% of the median local income ($46k/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 $794 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 + 7.5% rent growth), your $32k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($111k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y ago; this cycle's ask has dropped $15k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $22k; list at $115k implies a 421% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: 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 $111,453 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.44% ✓
• Cap rate: 12.24%
• Cash-on-cash: 21.24%
• DSCR: 1.95
• GRM: 5.8

CMA / ARV

• ARV (median comp): $71,131
• List price: $114,900
• Delta: 61.53%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2211 W Pratt St	0.26mi	3/1.0	1,500 (-1%)	2mo	$30,000	$20	85
2542 W Pratt St	0.03mi	4/1.5 (+1)	1,700 (+12%)	1mo	$115,000	$68	70
2680 Saint Benedict St	0.41mi	3/2.0	1,445 (-4%)	2mo	$45,000	$31	67
550 S Bentalou St	0.37mi	2/1.5 (-1)	1,440 (-5%)	4mo	$104,000	$72	64
2516 W Fairmount Ave	0.25mi	3/1.0	1,304 (-14%)	2mo	$30,000	$23	64
2216 W Fayette St	0.40mi	3/1.5	1,326 (-12%)	1mo	$77,000	$58	58
2416 W Franklin St	0.61mi	3/2.0	1,435 (-5%)	2mo	$67,000	$47	57
2733 Wilkens Ave	0.53mi	3/2.0	1,620 (+7%)	3mo	$135,000	$83	57
1933 W Pratt St	0.47mi	4/— (+1)	1,365 (-10%)	2mo	$30,000	$22	55
2613 Dulany St	0.33mi	4/1.0 (+1)	1,332 (-12%)	6mo	$60,000	$45	55
2218 W Saratoga St	0.54mi	3/1.5	1,650 (+9%)	5mo	$232,677	$141	53
605 S Smallwood St	0.47mi	2/1.0 (-1)	1,666 (+10%)	6mo	$20,000	$12	51

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 · 7.51% rent growth · sell at horizon

5-year hold

• IRR: 18.6%
• Equity multiple: 1.79×
• Total profit: $25,509
• Equity at exit: $17,132

10-year hold

• IRR: 29.8%
• Equity multiple: 4.24×
• Total profit: $104,317
• Equity at exit: $9,934

Cash invested: $32,172 (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 21223

• Rents YoY: 7.5%
• Active inventory: 422
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,658 high
• Mortgage (P&I): −$603
• Tax from tax record: −$90 /mo · $1,080/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $569

Break-even live

Break-even rent $937

Max offer price $114,900

Occupancy floor 61%

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
110 S Catherine St Unit 1 Baltimore, MD	2.0	1.0	1330	$1,500	$1.13	43d	1	0.04mi
2537 Hollins St Baltimore, MD	3.0	2.0	1200	$1,450	$1.21	23d	1	0.11mi
2516 Hollins St Baltimore, MD	3.0	2.0	1100	$1,700	$1.55	43d	1	0.13mi
2540 Frederick Ave Baltimore, MD	3.0	1.0	1075	$1,400	$1.30	23d	1	0.14mi
2225 W Baltimore St Baltimore, MD	3.0	2.5	1200	$1,600	$1.33	23d	1	0.32mi
476 S Bentalou St Baltimore, MD	2.0	1.5	1630	$1,300	$0.80	43d	1	0.32mi
2232 W Baltimore St Baltimore, MD	3.0	1.0	1250	$1,875	$1.50	23d	1	0.32mi
62 N Gorman Ave Baltimore, MD	3.0	2.0	1100	$2,500	$2.27	17d	1	0.33mi
307 S Smallwood St Baltimore, MD	2.0	2.5	1400	$1,350	$0.96	43d	1	0.33mi
2657 Lehman St Unit 1 Baltimore, MD	2.0	1.0	1056	$1,000	$0.95	43d	1	0.35mi
39 N Bentalou St Baltimore, MD	3.0	2.5	1844	$1,700	$0.92	3d	1	0.36mi
2509 Christian St Baltimore, MD	4.0	2.0	1248	$1,699	$1.36	3d	1	0.37mi
2514 Wilkens Ave Baltimore, MD	4.0	1.0	1344	$1,800	$1.34	11d	1	0.39mi
2514 Wilkens Ave Baltimore, MD	4.0	1.0	1344	$1,800	$1.34	43d	1	0.39mi
2671 Saint Benedict St Baltimore, MD	2.0	1.0	1144	$1,325	$1.16	43d	1	0.43mi
2738 Wilkens Ave Baltimore, MD	3.0	1.0	1183	$1,500	$1.27	43d	1	0.51mi
2737 Wilkens Ave Baltimore, MD	3.0	1.5	1232	$1,650	$1.34	4d	1	0.54mi
1912 W Baltimore St Unit 2 Baltimore, MD	2.0	1.5	1200	$2,100	$1.75	23d	1	0.56mi
941 Brunswick St Baltimore, MD	3.0	1.5	1516	$1,650	$1.09	17d	1	0.57mi
941 Brunswick St Baltimore, MD	3.0	1.5	1558	$1,600	$1.03	43d	1	0.57mi
514 S Payson St Unit 2 Baltimore, MD	3.0	2.0	1264	$1,750	$1.38	43d	1	0.57mi
2609 Lauretta Ave Baltimore, MD	3.0	1.0	1286	$1,675	$1.30	23d	1	0.62mi
1839 W Fayette St Baltimore, MD	3.0	1.5	1426	$1,675	$1.17	23d	1	0.63mi
2012 W Saratoga St Baltimore, MD	3.0	1.0	1300	$1,700	$1.31	23d	1	0.64mi
2636 Lauretta Ave Baltimore, MD	3.0	2.5	1232	$1,900	$1.54	43d	1	0.65mi
1814 Penrose Ave Baltimore, MD	3.0	1.0	1624	$1,700	$1.05	17d	1	0.73mi
1846 W Saratoga St Unit 1 Baltimore, MD	2.0	1.0	1250	$1,300	$1.04	43d	1	0.74mi
1635 Frederick Ave Baltimore, MD	3.0	2.0	1224	$1,850	$1.51	43d	1	0.75mi
3130 Stafford St Baltimore, MD	3.0	1.0	1200	$1,500	$1.25	20d	1	0.75mi
1601 Frederick Ave Unit 3 Baltimore, MD	2.0	1.0	1050	$1,050	$1.00	4d	1	0.80mi
2922 Edmondson Ave Baltimore, MD	3.0	2.0	1620	$1,900	$1.17	43d	1	0.81mi
3336 W Caton Ave Baltimore, MD	3.0	2.0	1236	$1,625	$1.31	23d	1	0.87mi
2303 Calverton Heights Ave Baltimore, MD	4.0	2.0	1314	$2,250	$1.71	23d	1	0.88mi
1518 1/2 W Lexington St Baltimore, MD	2.0	2.0	1650	$1,200	$0.73	4d	1	0.91mi
41 N Kossuth St Baltimore, MD	3.0	2.0	1216	$1,800	$1.48	23d	1	0.92mi
1519 Penrose Ave Baltimore, MD	3.0	2.0	1200	$1,875	$1.56	43d	1	0.92mi
3015 Rayner Ave Baltimore, MD	3.0	1.0	1152	$1,350	$1.17	43d	1	0.96mi
1324 W Lombard St Unit 2 Baltimore, MD	2.0	1.5	1100	$1,450	$1.32	43d	1	0.98mi
1324 W Lombard St Unit 1 Baltimore, MD	2.0	2.0	1100	$1,500	$1.36	23d	1	0.98mi
918 N Bentalou St Baltimore, MD	3.0	1.5	1485	$1,750	$1.18	43d	1	0.99mi

Listing history 27 events

1. 2026-06-18
   days on market $114,900 Active 49 DOM
2. 2026-06-17
   days on market $114,900 Active 48 DOM
3. 2026-06-16
   pricedays on market $114,900 Active 47 DOM
4. 2026-06-15
   days on market $120,000 Active 46 DOM
5. 2026-06-13
   days on market $120,000 Active 44 DOM
6. 2026-06-09
   days on market $120,000 Active 40 DOM
7. 2026-06-08
   days on market $120,000 Active 39 DOM
8. 2026-06-07
   days on market $120,000 Active 38 DOM
9. 2026-06-04
   days on market $120,000 Active 35 DOM
10. 2026-06-03
    days on market $120,000 Active 34 DOM
11. 2026-06-02
    days on market $120,000 Active 33 DOM
12. 2026-06-01
    days on market $120,000 Active 32 DOM
13. 2026-05-31
    days on market $120,000 Active 31 DOM
14. 2026-05-01
    listed $130,000 Active 1165-char remark
15. 2026-04-30
    historical $130,000 1165-char remark
16. 2018-02-04
    historical
17. 2018-02-04
    historical Withdrawn
18. 2018-01-09
    price
19. 2017-12-28
    listed $15,000
20. 2017-12-28
    listed Active
21. 2014-06-06
    historical
22. 2014-04-15
    historical Withdrawn
23. 2014-04-15
    price
24. 2014-03-10
    listed Active
25. 2014-03-10
    listed $14,900
26. 2004-08-25
    soldstatus $22,050
27. 1991-10-11
    soldstatus $164,800

ⓘ 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: $1,080 · $90/mo
• Projected year-2 tax: $1,166 · $97/mo
• Expected delta: +$86/yr (+$7/mo · 8.0%)

ⓘ 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,898
• − Mortgage interest: −$6,436
• − Property taxes: −$1,080
• − Insurance: −$574
• − Repairs & maintenance: −$1,592
• − Management: −$1,592
• − Depreciation: −$3,343
• Taxable income: $5,280
• Est. tax owed @ 24.0%: −$1,267
• After-tax cash flow: $5,566/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): 19,572
• Household income: $45,840
• Rent vs Own: 68.0% rent · 32.0% own
• Severe rent burden: 1755.0

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: Predominantly Black (72%)
• Race & ethnicity: Black 72% White 16% Hispanic / Latino 7% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Romanian 1%
• Foreign-born: 8% · Canada
• Languages at home: 90% English-only · Spanish 6% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -97.99%
• Current HPI: 140.5836
• Rent YoY: ▲ 7.51%
• 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

-30.3% since first listed

16 events — show timeline

• 2026-06-16 Price Changed $114,900 BRIGHT MLS
• 2026-05-29 Price Changed $120,000 BRIGHT MLS
• 2026-05-01 Listed $130,000 BRIGHT MLS
• 2026-04-30 Coming Soon $130,000 BRIGHT MLS
• 2018-02-04 Listing Removed — BRIGHT MLS
• 2018-02-04 Delisted — MRIS
• 2018-01-09 Price Changed — MRIS
• 2017-12-28 Listed $15,000 BRIGHT MLS
• 2017-12-28 Listed — MRIS
• 2014-06-06 Listing Removed — BRIGHT MLS
• 2014-04-15 Delisted — MRIS
• 2014-04-15 Price Changed — MRIS
• 2014-03-10 Listed — MRIS
• 2014-03-10 Listed $14,900 BRIGHT MLS
• 2004-08-25 Sold (Public Records) $22,050 Public Records
• 1991-10-11 Sold (Public Records) $164,800 Public Records

Property tax history

+7.4%/yr

Latest (2025): $1,080 · +0.0% YoY. Source: county tax records.