1805 E 33rd St · Baltimore, MD 21218

$119,900

3 bd · 2.0 ba · 1,746 sqft · Townhouse public records · 32 Days on market

Built 1928 1,000 sqft lot Est $229k · 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 +2.9/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

THIS 3 BEDROOM 2 BATH LARGE HOME IS LOCATED CLOSE TO LAKE MONTEBELLO AND JUST MINUTES FRON JOHNS HOPKINS UNIVERSITY. THIS HOME BOASTS LOTS OF STORAGE SPACE AND A GARAGE IN THE LARGE BACK YARD.

Key facts

• Unfinished basement
• Near parks
• Charming tub shower

Tags

• FEDERAL STYLE TOWNHOUSE
• CHARMING TUB SHOWER
• UNFINISHED BASEMENT
• DETACHED GARAGE
• SPACIOUS FENCED BACKYARD
• NEAR PARKS

Property features AI

Finance

• Other: Ownership is fee simple; Year built is estimated

Exterior

• Parking: Detached rear-entry garage (1 space); On-street parking
• Utilities: Public water; Public sewer
• Home design: Interior townhouse/rowhouse; Brick construction
• Construction: Brick exterior; Concrete perimeter foundation; Above- and below-grade structures
• Exterior features: Level main entry; No tidal water

Interior

• Kitchen: Country kitchen with space for a table
• Bedrooms: Three bedrooms on the upper level
• Flooring: Wood flooring; Vinyl flooring
• Bathrooms: Two full bathrooms (one on the upper level and one on the lower level)
• Heating & cooling: Radiator heating (natural gas); Window air conditioning units (electric)
• Interior features: Tub and stall showers; Dining area; Country-style kitchen with table space; Wood floors
• Laundry & utility: Unfinished basement with interior access, connecting stairway, rear entrance and walkout stairs (outside entrance)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $120k.

Deal economics

• At list price, monthly cash flow is $575 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.0% 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 (+1.6%/yr); 330 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); 48% 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 36% of the median local income ($62k/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 $829 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 + 1.6% rent growth), your $34k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 24y 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.

Risks & watch-outs

• Watch-outs: built in 1928 — 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 $116,303 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 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 1928 — 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: 1.58% ✓
• Cap rate: 12.05%
• Cash-on-cash: 20.55%
• DSCR: 1.91
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $228,726
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1815 E 32nd St	0.11mi	3/2.0	1,810 (+4%)	1mo	$180,000	$99	88
1816 Chilton St	0.04mi	3/2.0	1,922 (+10%)	2mo	$265,000	$138	80
1531 Kennewick Rd	0.45mi	3/1.5	1,770 (+1%)	5mo	$240,000	$136	70
1510 Medford Rd	0.58mi	3/2.0	1,700 (-3%)	2mo	$285,000	$168	67
1509 Upshire Rd	0.43mi	3/2.0	1,860 (+6%)	3mo	$240,000	$129	66
1620 E 31st St	0.18mi	4/2.0 (+1)	1,920 (+10%)	4mo	$230,000	$120	66
3712 Monterey Rd	0.55mi	3/2.0	1,705 (-2%)	5mo	$254,000	$149	66
1616 Homestead St	0.56mi	3/1.0	1,770 (+1%)	4mo	$111,000	$63	64
1913 E 29th St	0.28mi	4/2.5 (+1)	1,920 (+10%)	3mo	$199,900	$104	61
1509 Shadyside Rd	0.72mi	3/2.0	1,792 (+3%)	2mo	$208,000	$116	60
1634 Roundhill Rd	0.68mi	3/2.0	1,680 (-4%)	5mo	$220,000	$131	57
3807 Kimble Rd	0.71mi	3/2.0	1,500 (-14%)	4mo	$255,000	$170	41

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 · 1.63% rent growth · sell at horizon

5-year hold

• IRR: 11.2%
• Equity multiple: 1.44×
• Total profit: $14,704
• Equity at exit: $17,877

10-year hold

• IRR: 19.1%
• Equity multiple: 2.49×
• Total profit: $50,021
• Equity at exit: $10,367

Cash invested: $33,572 (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 21218

• Rents YoY: 1.6%
• Active inventory: 330
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,897 high
• Mortgage (P&I): −$629
• Tax from tax record: −$245 /mo · $2,936/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $575

Break-even live

Break-even rent $1,169

Max offer price $119,900

Occupancy floor 65%

Sensitivity live

Price	-10% $643	-5% $609	+0% $575	+5% $541	+10% $507
Rent	-10% $425	-5% $500	+0% $575	+5% $650	+10% $725
Rate	-1.0pp $635	-0.5pp $606	base $575	+0.5pp $544	+1.0pp $512

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1702 E 32nd St Baltimore, MD	3.0	2.0	1344	$2,300	$1.71	44d	1	0.12mi
3213 The Alameda Baltimore, MD	2.0	1.0	1708	$1,295	$0.76	4d	1	0.24mi
1832 E 28th St Baltimore, MD	3.0	1.0	1066	$1,495	$1.40	24d	1	0.27mi
1802 E 28th St Baltimore, MD	3.0	1.0	1300	$1,600	$1.23	24d	1	0.27mi
1502 Fernley Rd Baltimore, MD	3.0	2.0	1350	$2,800	$2.07	44d	1	0.32mi
1519 E 28th St Baltimore, MD	3.0	2.0	1100	$1,350	$1.23	44d	1	0.37mi
1539 Abbotston St Baltimore, MD	3.0	2.0	1900	$1,899	$1.00	5d	1	0.44mi
1539 Abbotston St Baltimore, MD	3.0	2.0	1800	$1,995	$1.11	44d	1	0.44mi
2606 Cecil Ave Baltimore, MD	2.0	1.5	1200	$1,500	$1.25	44d	1	0.69mi
3222 Ellerslie Ave Baltimore, MD	4.0	1.5	1550	$1,950	$1.26	44d	1	0.74mi
4006 Loch Raven Blvd Baltimore, MD	3.0	2.5	2016	$2,695	$1.34	18d	1	0.76mi
936 Montpelier St Baltimore, MD	2.0	1.0	1260	$1,450	$1.15	24d	1	0.77mi
1539 Ralworth Rd Baltimore, MD	3.0	2.0	1580	$1,950	$1.23	15d	1	0.78mi
1617 Argonne Dr Baltimore, MD	4.0	2.0	1200	$2,550	$2.12	44d	1	0.83mi
724 E 35th St Baltimore, MD	3.0	1.5	1368	$2,000	$1.46	15d	1	0.85mi
721 E 36th St Unit Na Baltimore, MD	2.0	1.0	1156	$1,650	$1.43	44d	1	0.87mi
3515 Parklawn Ave Baltimore, MD	3.0	2.0	1240	$1,700	$1.37	3d	1	0.88mi
3436 Cardenas Ave Baltimore, MD	2.0	1.0	1146	$1,395	$1.22	44d	1	0.89mi
3721 Ellerslie Ave Baltimore, MD	1.0–3.0	1.0–2.0	894	$1,603	$1.79	2d	1	0.93mi
2735 Chesterfield Ave Baltimore, MD	3.0	2.5	1536	$2,000	$1.30	11d	1	0.94mi
1607 Cliftview Ave Baltimore, MD	3.0	1.0	1200	$1,475	$1.23	44d	1	0.94mi
2828 Lake Ave Baltimore, MD	3.0	2.0	1164	$1,850	$1.59	5d	1	0.94mi
616 Montpelier St Baltimore, MD	3.0	1.0	1150	$1,750	$1.52	11d	1	0.95mi
3005 Belair Rd Baltimore, MD	3.0	2.0	2000	$1,600	$0.80	18d	1	0.96mi
2817 Pelham Ave Baltimore, MD	3.0	2.0	1464	$1,950	$1.33	24d	1	0.98mi
2113 Belair Rd Baltimore, MD	3.0	1.0	1344	$1,795	$1.34	44d	1	0.99mi
3213 Elmley Ave Baltimore, MD	2.0	1.0	1188	$1,395	$1.17	44d	1	1.00mi
2837 Pelham Ave Baltimore, MD	4.0	2.0	1164	$1,675	$1.44	44d	1	1.01mi
3222 Lyndale Ave Unit 1 Baltimore, MD	3.0	1.5	1500	$2,200	$1.47	13d	1	1.03mi
2848 Pelham Ave Baltimore, MD	3.0	2.0	1164	$1,700	$1.46	44d	1	1.03mi
519 E 28th St Baltimore, MD	3.0	2.0	1500	$2,000	$1.33	5d	1	1.05mi
3529 Greenmount Ave Baltimore, MD	3.0	2.0	1316	$1,575	$1.20	44d	1	1.06mi
3335 Lyndale Ave Baltimore, MD	2.0	2.0	1344	$1,600	$1.19	24d	1	1.10mi
3326 Elmora Ave Baltimore, MD	3.0	1.0	1200	$1,450	$1.21	24d	1	1.10mi
424 Ilchester Ave Baltimore, MD	3.0	3.0	1976	$1,800	$0.91	15d	1	1.15mi
348 E University Pkwy Baltimore, MD	4.0	2.0	1809	$2,400	$1.33	44d	1	1.15mi
1829 N Port St Baltimore, MD	3.0	1.5	2000	$1,625	$0.81	44d	1	1.16mi
1814 E Lafayette Ave Baltimore, MD	4.0	2.0	1200	$1,995	$1.66	24d	1	1.19mi
402 E 28th St Baltimore, MD	3.0	1.0	1436	$2,200	$1.53	44d	1	1.19mi
450 E Lorraine Ave Baltimore, MD	3.0	1.0	1344	$1,695	$1.26	44d	1	1.19mi

Listing history 27 events

1. 2026-06-21
   statusdays on market $119,900 Pending 32 DOM
2. 2026-06-18
   days on market $119,900 Active 31 DOM
3. 2026-06-17
   days on market $119,900 Active 30 DOM
4. 2026-06-16
   days on market $119,900 Active 29 DOM
5. 2026-06-15
   days on market $119,900 Active 28 DOM
6. 2026-06-13
   days on market $119,900 Active 26 DOM
7. 2026-06-09
   days on market $119,900 Active 22 DOM
8. 2026-06-08
   days on market $119,900 Active 21 DOM
9. 2026-06-07
   days on market $119,900 Active 20 DOM
10. 2026-06-04
    days on market $119,900 Active 17 DOM
11. 2026-06-03
    days on market $119,900 Active 16 DOM
12. 2026-06-02
    days on market $119,900 Active 15 DOM
13. 2026-06-01
    days on market $119,900 Active 14 DOM
14. 2026-05-31
    days on market $119,900 Active 13 DOM
15. 2026-05-18
    listed $119,900 Active
16. 2020-03-30
    soldstatus $120,000
17. 2014-02-14
    soldstatus $32,000 192-char remark

    Show marketing remark (192 chars)

    THIS 3 BEDROOM 2 BATH LARGE HOME IS LOCATED CLOSE TO LAKE MONTEBELLO AND JUST MINUTES FRON JOHNS HOPKINS UNIVERSITY. THIS HOME BOASTS LOTS OF STORAGE SPACE AND A GARAGE IN THE LARGE BACK YARD.

18. 2014-02-14
    soldstatus $32,000 Sold 192-char remark

    Show marketing remark (192 chars)

    THIS 3 BEDROOM 2 BATH LARGE HOME IS LOCATED CLOSE TO LAKE MONTEBELLO AND JUST MINUTES FRON JOHNS HOPKINS UNIVERSITY. THIS HOME BOASTS LOTS OF STORAGE SPACE AND A GARAGE IN THE LARGE BACK YARD.

19. 2013-10-19
    status Contract 192-char remark

    Show marketing remark (192 chars)

    THIS 3 BEDROOM 2 BATH LARGE HOME IS LOCATED CLOSE TO LAKE MONTEBELLO AND JUST MINUTES FRON JOHNS HOPKINS UNIVERSITY. THIS HOME BOASTS LOTS OF STORAGE SPACE AND A GARAGE IN THE LARGE BACK YARD.

20. 2013-10-19
    historical 192-char remark

    Show marketing remark (192 chars)

    THIS 3 BEDROOM 2 BATH LARGE HOME IS LOCATED CLOSE TO LAKE MONTEBELLO AND JUST MINUTES FRON JOHNS HOPKINS UNIVERSITY. THIS HOME BOASTS LOTS OF STORAGE SPACE AND A GARAGE IN THE LARGE BACK YARD.

21. 2013-10-04
    listed $34,000 Active 192-char remark

    Show marketing remark (192 chars)

    THIS 3 BEDROOM 2 BATH LARGE HOME IS LOCATED CLOSE TO LAKE MONTEBELLO AND JUST MINUTES FRON JOHNS HOPKINS UNIVERSITY. THIS HOME BOASTS LOTS OF STORAGE SPACE AND A GARAGE IN THE LARGE BACK YARD.

22. 2013-10-02
    listed $34,000 192-char remark

    Show marketing remark (192 chars)

    THIS 3 BEDROOM 2 BATH LARGE HOME IS LOCATED CLOSE TO LAKE MONTEBELLO AND JUST MINUTES FRON JOHNS HOPKINS UNIVERSITY. THIS HOME BOASTS LOTS OF STORAGE SPACE AND A GARAGE IN THE LARGE BACK YARD.

23. 2003-12-08
    soldstatus $49,900
24. 2003-11-13
    historical
25. 2003-10-07
    listed $54,900
26. 2002-12-03
    historical
27. 2002-06-04
    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: $2,936 · $245/mo
• Projected year-2 tax: $2,936 · $245/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 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 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,761
• − Mortgage interest: −$6,716
• − Property taxes: −$2,936
• − Insurance: −$600
• − Repairs & maintenance: −$1,821
• − Management: −$1,821
• − Depreciation: −$3,488
• Taxable income: $5,380
• Est. tax owed @ 24.0%: −$1,291
• After-tax cash flow: $5,610/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): 44,014
• Household income: $62,488
• Rent vs Own: 51.9% rent · 48.1% own
• Severe rent burden: 2564.0

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 0.58)
• Race & ethnicity: Black 60% White 26% Two or more races 6% Hispanic / Latino 5% Asian 5%
• Common ancestry: Romanian 2% Italian 1% Scotch-Irish 1%
• Foreign-born: 10% · Canada, China, South Korea
• Languages at home: 87% English-only · Spanish 4% French/Haitian/Cajun 2% Chinese 2%

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: ▼ -463.14%
• Current HPI: 292.3986
• Rent YoY: ▲ 1.63%
• 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

+118.4% since first listed

13 events — show timeline

• 2026-05-18 Listed $119,900 BRIGHT MLS
• 2020-03-30 Sold (Public Records) $120,000 Public Records
• 2014-02-14 Sold (MLS) $32,000 MRIS
• 2014-02-14 Sold (MLS) $32,000 BRIGHT MLS
• 2013-10-19 Pending — MRIS
• 2013-10-19 Listing Removed — BRIGHT MLS
• 2013-10-04 Listed $34,000 MRIS
• 2013-10-02 Listed $34,000 BRIGHT MLS
• 2003-12-08 Sold (MLS) $49,900 MRIS
• 2003-11-13 Delisted — MRIS
• 2003-10-07 Listed $54,900 MRIS
• 2002-12-03 Delisted — MRIS
• 2002-06-04 Listed — MRIS

Property tax history

-1.7%/yr

Latest (2025): $2,936 · +32.0% YoY. Source: county tax records.