1641 Ceddox St · Baltimore, MD 21226

$79,995

2 bd · 1.0 ba · 810 sqft · Townhouse public records · 23 Days on market

Built 1900 1,307 sqft lot $99/sqft · 19% above area Est $67k · 19% over

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.9/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

BEAUTIFUL COMPLETE RENOVATION! FIREPLACE, NEW WASHER AND DRYER, COMPLETE NEW KITCHEN AND APPLIANCES. THIS IS A GREAT STARTER HOME MUST SEE. OFF STREET PARKING IN THE REAR WITH LARGE BACK YARD. PRIVACY FENCING. NEW CENTRAL AIR. NEW WINDOWS. CONVENIENT TO HARBOR TUNNEL 895, I 695 AND I 95, METRO, LIGHT RAIL, BUS LINES. 10 MINUTES TO DOWNTOWN BALTIMORE. HOT AREA WITH LOTS OF RENOVATION AND NEW HOMES.

Key facts

• Built 1900
• Listed 23 days

Property features AI

Finance

• Other: Ownership: Fee simple; Property condition: Average

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Utilities above ground; Hot water: Natural gas; Cooling fuel: Electric; Heating fuel: Electric
• Home design: Interior townhouse/rowhouse
• Construction: Brick and block construction; Block foundation; Built year per assessor
• Exterior features: Above-grade and below-grade structures; Not located in a federal flood zone; Located within city limits

Interior

• Kitchen: Microwave; Stove; Refrigerator
• Bedrooms: Two bedrooms on the first upper level
• Bathrooms: One full bathroom
• Heating & cooling: Heat pump(s) for heating; Central air conditioning (electric)
• Interior features: Has one fireplace; Unfinished basement with sump pump; Not furnished
• Laundry & utility: Hot water provided by natural gas

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $80k.

Deal economics

• At list price, monthly cash flow is $720 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.
• Cap rate 17.1% 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: 45 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($553 loan paydown + $6k appreciation (7.8% local appreciation)).
• Baltimore County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (7.8% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y 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 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 $78,795 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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: 1.95% ✓
• Cap rate: 17.10%
• Cash-on-cash: 38.58%
• DSCR: 2.72
• GRM: 4.3

CMA / ARV

• ARV (median comp): $67,234
• List price: $79,995
• Delta: 18.98%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1607 Cereal St	0.05mi	2/1.0	840 (+4%)	6mo	$70,000	$83	86
1603 Cereal	0.06mi	2/2.0	840 (+4%)	15mo	$139,900	$167	74
4221 Morrison Ct	0.41mi	2/1.5	832 (+3%)	1mo	$25,000	$30	74
4206 Grace Ct	0.44mi	2/1.0	832 (+3%)	6mo	$60,500	$73	70
4101 Morrison Ct	0.50mi	2/1.0	832 (+3%)	6mo	$32,500	$39	67
4207 Morrison	0.43mi	2/1.0	832 (+3%)	15mo	$44,000	$53	63
4202 Morrison Ct	0.44mi	2/1.0	832 (+3%)	17mo	$25,000	$30	60
4116 Curtis Ave	0.47mi	3/1.0 (+1)	832 (+3%)	15mo	$40,000	$48	56
4117 Graham Ct	0.47mi	2/1.0	832 (+3%)	23mo	$70,000	$84	55
4204 Morrison	0.44mi	2/1.5	832 (+3%)	22mo	$32,000	$38	54
1522 Plum St	0.53mi	2/1.0	728 (-10%)	10mo	$65,000	$89	51

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

7.75% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 50.9%
• Equity multiple: 4.46×
• Total profit: $77,543
• Equity at exit: $59,418

10-year hold

• IRR: 46.3%
• Equity multiple: 9.52×
• Total profit: $190,873
• Equity at exit: $116,673

Cash invested: $22,399 (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 21226

• Home prices YoY: 2.5%
• Active inventory: 45
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,558 high
• Mortgage (P&I): −$420
• Tax from tax record: −$58 /mo · $698/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $720

Break-even live

Break-even rent $647

Max offer price $79,995

Occupancy floor 49%

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: $19,999
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1628 Plum St Apt B (CB) Baltimore, MD	1.0	1.0	800	$850	$1.06	23d	1	0.53mi
1353 Cambria St Brooklyn, MD	3.0	2.0	986	$1,600	$1.62	17d	1	0.80mi
1305 E Patapsco Ave Brooklyn, MD	3.0	1.5	930	$1,650	$1.77	4d	1	0.86mi
5215 Wasena Ave Brooklyn, MD	3.0	1.0	1030	$1,650	$1.60	43d	1	0.89mi
3826 10th St Unit Entire House Baltimore, MD	3.0	2.0	1110	$2,400	$2.16	23d	1	0.93mi
5227 Patrick Henry Dr Brooklyn, MD	2.0	1.0	736	$1,326	$1.80	21d	1	0.95mi
1049 E Patapsco Ave Unit a Baltimore, MD	2.0	1.0	748	$1,257	$1.68	43d	1	0.96mi
807 Stoll St Unit 1 Baltimore, MD	1.0	1.0	658	$1,000	$1.52	43d	1	1.00mi
837 E Jeffrey St Apt 1 Baltimore, MD	1.0	1.0	1116	$900	$0.81	17d	1	1.01mi
837 E Jeffrey St Unit 2 Baltimore, MD	1.0	1.0	1116	$900	$0.81	43d	1	1.01mi
3840 8th St Brooklyn, MD	3.0	1.5	1088	$1,606	$1.48	4d	1	1.12mi
1 Ballman Ct Unit 2 Baltimore, MD	2.0	1.0	700	$1,250	$1.79	43d	1	1.15mi
4206 Audrey Ave Brooklyn, MD	3.0	3.0	1104	$1,950	$1.77	23d	1	1.15mi
4206 Audrey Ave Brooklyn, MD	2.0	2.0	1104	$1,275	$1.15	43d	1	1.15mi
507 Washburn Ave Brooklyn, MD	3.0	1.5	1024	$2,500	$2.44	20d	1	1.30mi
507 Washburn Ave Brooklyn, MD	3.0	1.5	1024	$2,500	$2.44	23d	1	1.30mi
507 Washburn Ave Brooklyn, MD	3.0	1.5	1024	$2,500	$2.44	4d	1	1.30mi
4400 4th St Unit BASEMENT Baltimore, MD	2.0	1.0	925	$1,350	$1.46	43d	1	1.32mi
140 Bethlehem Pl Brooklyn, MD	3.0	3.5	1120	$1,500	$1.34	43d	1	1.32mi
3528 6th St Brooklyn, MD	2.0	2.5	1060	$1,500	$1.42	17d	1	1.40mi
4207 3rd St Unit 3 Brooklyn, MD	2.0	1.0	850	$1,595	$1.88	4d	1	1.42mi

Listing history 12 events

1. 2026-05-06
   listed $79,995 Active 898-char remark
2. 2006-02-10
   soldstatus $99,900
3. 2006-02-10
   soldstatus $99,900
4. 2006-02-03
   soldstatus $99,900 400-char remark

   Show marketing remark (400 chars)

   BEAUTIFUL COMPLETE RENOVATION! FIREPLACE, NEW WASHER AND DRYER, COMPLETE NEW KITCHEN AND APPLIANCES. THIS IS A GREAT STARTER HOME MUST SEE. OFF STREET PARKING IN THE REAR WITH LARGE BACK YARD. PRIVACY FENCING. NEW CENTRAL AIR. NEW WINDOWS. CONVENIENT TO HARBOR TUNNEL 895, I 695 AND I 95, METRO, LIGHT RAIL, BUS LINES. 10 MINUTES TO DOWNTOWN BALTIMORE. HOT AREA WITH LOTS OF RENOVATION AND NEW HOMES.

5. 2005-12-26
   historical 400-char remark

   Show marketing remark (400 chars)

   BEAUTIFUL COMPLETE RENOVATION! FIREPLACE, NEW WASHER AND DRYER, COMPLETE NEW KITCHEN AND APPLIANCES. THIS IS A GREAT STARTER HOME MUST SEE. OFF STREET PARKING IN THE REAR WITH LARGE BACK YARD. PRIVACY FENCING. NEW CENTRAL AIR. NEW WINDOWS. CONVENIENT TO HARBOR TUNNEL 895, I 695 AND I 95, METRO, LIGHT RAIL, BUS LINES. 10 MINUTES TO DOWNTOWN BALTIMORE. HOT AREA WITH LOTS OF RENOVATION AND NEW HOMES.

6. 2005-11-11
   historical
7. 2005-10-11
   listed
8. 2005-09-24
   listed $99,900 400-char remark

   Show marketing remark (400 chars)

   BEAUTIFUL COMPLETE RENOVATION! FIREPLACE, NEW WASHER AND DRYER, COMPLETE NEW KITCHEN AND APPLIANCES. THIS IS A GREAT STARTER HOME MUST SEE. OFF STREET PARKING IN THE REAR WITH LARGE BACK YARD. PRIVACY FENCING. NEW CENTRAL AIR. NEW WINDOWS. CONVENIENT TO HARBOR TUNNEL 895, I 695 AND I 95, METRO, LIGHT RAIL, BUS LINES. 10 MINUTES TO DOWNTOWN BALTIMORE. HOT AREA WITH LOTS OF RENOVATION AND NEW HOMES.

9. 2005-06-30
   soldstatus $24,900
10. 2005-06-07
    historical
11. 2005-05-16
    listed $29,900
12. 1983-01-21
    soldstatus $12,000

ⓘ 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: $698 · $58/mo
• Projected year-2 tax: $785 · $65/mo
• Expected delta: +$87/yr (+$7/mo · 12.5%)

ⓘ 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 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,701
• − Mortgage interest: −$4,481
• − Property taxes: −$698
• − Insurance: −$400
• − Repairs & maintenance: −$1,496
• − Management: −$1,496
• − Depreciation: −$2,327
• Taxable income: $7,803
• Est. tax owed @ 24.0%: −$1,873
• After-tax cash flow: $6,769/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
• City population: 588,727
• Population (ZIP): 6,593

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 0.61)
• Race & ethnicity: White 59% Black 18% Two or more races 13% Hispanic / Latino 8% Asian 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 3%
• Common ancestry: Slovak 7% Romanian 2% Scotch-Irish 1%
• Foreign-born: 7% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 7% Tagalog/Filipino 1% 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: ▲ 7.75%
• Current HPI: 318.79
• Rent YoY: —
• Metro: —
• 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

+566.6% since first listed

13 events — show timeline

• 2026-05-30 Pending — BRIGHT MLS
• 2026-05-06 Listed $79,995 BRIGHT MLS
• 2006-02-10 Sold (Public Records) $99,900 Public Records
• 2006-02-10 Sold (Public Records) $99,900 Public Records
• 2006-02-03 Sold (MLS) $99,900 MRIS
• 2005-12-26 Delisted — MRIS
• 2005-11-11 Delisted — MRIS
• 2005-10-11 Listed — MRIS
• 2005-09-24 Listed $99,900 MRIS
• 2005-06-30 Sold (MLS) $24,900 MRIS
• 2005-06-07 Delisted — MRIS
• 2005-05-16 Listed $29,900 MRIS
• 1983-01-21 Sold (Public Records) $12,000 Public Records

Property tax history

-1.5%/yr

Latest (2025): $698 · +5.8% YoY. Source: county tax records.