2304 E Lafayette Ave · Baltimore, MD 21213

$135,000

3 bd · 1.0 ba · 674 sqft · Townhouse public records · 21 Days on market

Built 1915

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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
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• Appreciation +4.7/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0

Listing remarks MLS

Attention all investors and savvy home buyers. This three-bedroom-one bath home is located in the Broadway East section of Baltimore City. This home is waiting for it's new owner to add their own touch. This property is the perfect flip , or rental property addition to your portfolio. It's location is convenient to major roads, highways , and shopping areas. Property being sold as-is seller will make no repairs. Schedule your tour today.

Key facts

• Built 1915
• Listed 21 days

Property features AI

Finance

• Other: Year built source: Assessor; Pets allowed with no pet restrictions

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Electric cooling fuel; Natural gas heating and hot water
• Home design: Interior townhouse/rowhouse; Fee simple ownership; Property described in very good to good condition
• Construction: Brick construction; Concrete perimeter foundation; Approximately 900 finished square feet above grade; Approximately 450 finished square feet below grade (estimated)
• Exterior features: Not in a federal flood zone; Above-grade and below-grade structures present; Ground rent paid annually; In city limits (Baltimore City)

Interior

• Bedrooms: Three bedrooms on the first upper level
• Bathrooms: One full bathroom
• Heating & cooling: Central heating (natural gas); Central air conditioning (electric); Natural gas hot water
• Interior features: Not furnished; Fully finished basement; Estimated living area
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $135k.

Deal economics

• At list price, monthly cash flow is $643 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $133k (1.5% 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 fast (+5.2%/yr); 319 active listings in the ZIP; 11 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).
• This rent runs 43% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $166 of equity ($933 loan paydown + $-767 appreciation (-0.6% 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 (-0.6% appreciation + 5.2% rent growth), your $38k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 23y ago; this cycle's ask is 10700% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $63k; list at $135k implies a 114% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — 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 $132,975 (1.5% below list)

Questions for the listing agent

1. Built in 1915 — 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: 1.37% ✓
• Cap rate: 12.01%
• Cash-on-cash: 20.42%
• DSCR: 1.91
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $85,598
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2305 Ashland Ave	0.72mi	3/1.0	616 (-9%)	4mo	$78,000	$127	49

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

Projected returns pro-forma

-0.57% appreciation · 5.25% rent growth · sell at horizon

5-year hold

• IRR: 20.8%
• Equity multiple: 2.00×
• Total profit: $37,712
• Equity at exit: $35,409

10-year hold

• IRR: 27.1%
• Equity multiple: 4.11×
• Total profit: $117,677
• Equity at exit: $39,645

Cash invested: $37,800 (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 21213

• Home prices YoY: -0.1%
• Rents YoY: 5.2%
• Active inventory: 319
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,856 high
• Mortgage (P&I): −$708
• Tax from tax record: −$59 /mo · $705/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$390
• Net cashflow: $643

Break-even live

Break-even rent $1,042

Max offer price $135,000

Occupancy floor 60%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2410 E Federal St Baltimore, MD	4.0	2.0	720	$2,200	$3.06	23d	1	0.14mi
2221 E Preston St Baltimore, MD	2.0	1.0	658	$1,200	$1.82	23d	1	0.39mi
1607 Hakesley Pl Baltimore, MD	3.0	1.0	720	$1,400	$1.94	43d	1	0.73mi
500 N Rose St Baltimore, MD	3.0	2.0	520	$1,200	$2.31	4d	1	0.98mi
3221 The Alameda Unit 2 Baltimore, MD	2.0	1.0	750	$1,200	$1.60	23d	1	1.27mi
520 Somerset St Baltimore, MD	1.0–2.0	1.0–2.0	634	$1,578	$2.49	43d	1	1.32mi
1100 Greenmount Ave Baltimore, MD	1.0–3.0	1.0–2.0	839	$2,584	$3.08	2d	1	1.36mi
4300 Orchard Ridge Blvd Baltimore, MD	1.0–3.0	1.0–2.0	1021	$1,809	$1.77	43d	1	1.38mi
1708 Latrobe St Baltimore, MD	2.0	1.0	750	$2,250	$3.00	23d	1	1.44mi
2821 Mathews St Unit 27-668 Baltimore, MD	2.0	1.0	730	$1,050	$1.44	23d	1	1.44mi
231 E North Ave Baltimore, MD	3.0	1.0	430	$1,200	$2.79	16d	3	1.48mi

Listing history 50 events

1. 2026-06-18
   days on market $135,000 Active 21 DOM
2. 2026-06-17
   days on market $135,000 Active 20 DOM
3. 2026-06-16
   days on market $135,000 Active 19 DOM
4. 2026-06-15
   days on market $135,000 Active 18 DOM
5. 2026-06-13
   days on market $135,000 Active 16 DOM
6. 2026-06-09
   days on market $135,000 Active 12 DOM
7. 2026-06-08
   days on market $135,000 Active 11 DOM
8. 2026-06-07
   days on market $135,000 Active 10 DOM
9. 2026-06-04
   days on market $135,000 Active 7 DOM
10. 2026-06-03
    days on market $135,000 Active 6 DOM
11. 2026-06-02
    days on market $135,000 Active 5 DOM
12. 2026-06-01
    days on market $135,000 Active 4 DOM
13. 2026-05-31
    days on market $135,000 Active 3 DOM
14. 2026-05-21
    historical $135,000
15. 2024-02-28
    soldstatus $63,000
16. 2024-01-20
    historical $1,250
17. 2024-01-12
    listed $1,250
18. 2023-11-27
    soldstatus $63,000 Closed 443-char remark

    Show marketing remark (443 chars)

    Attention all investors and savvy home buyers. This three-bedroom-one bath home is located in the Broadway East section of Baltimore City. This home is waiting for it's new owner to add their own touch. This property is the perfect flip , or rental property addition to your portfolio. It's location is convenient to major roads, highways , and shopping areas. Property being sold as-is seller will make no repairs. Schedule your tour today.

19. 2023-11-06
    status Pending 443-char remark

    Show marketing remark (443 chars)

    Attention all investors and savvy home buyers. This three-bedroom-one bath home is located in the Broadway East section of Baltimore City. This home is waiting for it's new owner to add their own touch. This property is the perfect flip , or rental property addition to your portfolio. It's location is convenient to major roads, highways , and shopping areas. Property being sold as-is seller will make no repairs. Schedule your tour today.

20. 2023-11-02
    price $65,000 443-char remark

    Show marketing remark (443 chars)

    Attention all investors and savvy home buyers. This three-bedroom-one bath home is located in the Broadway East section of Baltimore City. This home is waiting for it's new owner to add their own touch. This property is the perfect flip , or rental property addition to your portfolio. It's location is convenient to major roads, highways , and shopping areas. Property being sold as-is seller will make no repairs. Schedule your tour today.

21. 2023-11-02
    status Active 443-char remark

    Show marketing remark (443 chars)

    Attention all investors and savvy home buyers. This three-bedroom-one bath home is located in the Broadway East section of Baltimore City. This home is waiting for it's new owner to add their own touch. This property is the perfect flip , or rental property addition to your portfolio. It's location is convenient to major roads, highways , and shopping areas. Property being sold as-is seller will make no repairs. Schedule your tour today.

22. 2023-09-11
    status Pending 443-char remark

    Show marketing remark (443 chars)

    Attention all investors and savvy home buyers. This three-bedroom-one bath home is located in the Broadway East section of Baltimore City. This home is waiting for it's new owner to add their own touch. This property is the perfect flip , or rental property addition to your portfolio. It's location is convenient to major roads, highways , and shopping areas. Property being sold as-is seller will make no repairs. Schedule your tour today.

23. 2023-09-11
    historical 443-char remark

    Show marketing remark (443 chars)

    Attention all investors and savvy home buyers. This three-bedroom-one bath home is located in the Broadway East section of Baltimore City. This home is waiting for it's new owner to add their own touch. This property is the perfect flip , or rental property addition to your portfolio. It's location is convenient to major roads, highways , and shopping areas. Property being sold as-is seller will make no repairs. Schedule your tour today.

24. 2023-08-15
    status Active 443-char remark

    Show marketing remark (443 chars)

    Attention all investors and savvy home buyers. This three-bedroom-one bath home is located in the Broadway East section of Baltimore City. This home is waiting for it's new owner to add their own touch. This property is the perfect flip , or rental property addition to your portfolio. It's location is convenient to major roads, highways , and shopping areas. Property being sold as-is seller will make no repairs. Schedule your tour today.

25. 2023-08-07
    status Pending 443-char remark

    Show marketing remark (443 chars)

    Attention all investors and savvy home buyers. This three-bedroom-one bath home is located in the Broadway East section of Baltimore City. This home is waiting for it's new owner to add their own touch. This property is the perfect flip , or rental property addition to your portfolio. It's location is convenient to major roads, highways , and shopping areas. Property being sold as-is seller will make no repairs. Schedule your tour today.

26. 2023-07-20
    listed $80,000 Active 443-char remark

    Show marketing remark (443 chars)

    Attention all investors and savvy home buyers. This three-bedroom-one bath home is located in the Broadway East section of Baltimore City. This home is waiting for it's new owner to add their own touch. This property is the perfect flip , or rental property addition to your portfolio. It's location is convenient to major roads, highways , and shopping areas. Property being sold as-is seller will make no repairs. Schedule your tour today.

27. 2018-04-28
    price $12,500 306-char remark

    Show marketing remark (306 chars)

    Wonderful chance to own this turn key home for less than the cost of renting. Enjoy nice updates such as newer kitchen and bath, laminate wood floors, & newer carpet. Use the finished basement as added living space. Rear fenced yard is perfect for warm weather fun. Just minutes to Downtown Baltimore!

28. 2017-11-29
    price $12,500
29. 2017-11-27
    soldstatus $12,500 Closed 306-char remark

    Show marketing remark (306 chars)

    Wonderful chance to own this turn key home for less than the cost of renting. Enjoy nice updates such as newer kitchen and bath, laminate wood floors, & newer carpet. Use the finished basement as added living space. Rear fenced yard is perfect for warm weather fun. Just minutes to Downtown Baltimore!

30. 2017-11-27
    soldstatus $12,500 Sold

    Show marketing remark (306 chars)

    Wonderful chance to own this turn key home for less than the cost of renting. Enjoy nice updates such as newer kitchen and bath, laminate wood floors, & newer carpet. Use the finished basement as added living space. Rear fenced yard is perfect for warm weather fun. Just minutes to Downtown Baltimore!

31. 2017-11-22
    status Contract
32. 2017-09-08
    price $24,900
33. 2017-08-28
    status Active
34. 2017-08-07
    historical Temporarily Off-Market
35. 2017-08-06
    listed $29,900 Active
36. 2017-08-05
    listed $24,900 Active 306-char remark

    Show marketing remark (306 chars)

    Wonderful chance to own this turn key home for less than the cost of renting. Enjoy nice updates such as newer kitchen and bath, laminate wood floors, & newer carpet. Use the finished basement as added living space. Rear fenced yard is perfect for warm weather fun. Just minutes to Downtown Baltimore!

37. 2008-10-29
    historical
38. 2008-08-19
    listed
39. 2007-11-15
    soldstatus $25,650 Sold
40. 2007-11-06
    historical
41. 2007-10-04
    listed $29,000
42. 2006-06-30
    soldstatus $11,500
43. 2006-04-13
    historical
44. 2005-12-20
    listed $9,500
45. 2005-09-20
    historical
46. 2004-06-02
    listed
47. 2003-08-29
    historical
48. 2003-05-20
    listed
49. 1998-12-18
    soldstatus $50,500
50. 1984-06-14
    soldstatus $762,200

ⓘ 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: $705 · $59/mo
• Projected year-2 tax: $1,088 · $91/mo
• Expected delta: +$383/yr (+$32/mo · 54.4%)

ⓘ 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 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,271
• − Mortgage interest: −$7,562
• − Property taxes: −$705
• − Insurance: −$675
• − Repairs & maintenance: −$1,782
• − Management: −$1,782
• − Depreciation: −$3,927
• Taxable income: $5,838
• Est. tax owed @ 24.0%: −$1,401
• After-tax cash flow: $6,318/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): 28,058
• Household income: $51,344
• Rent vs Own: 48.0% rent · 52.0% own
• Severe rent burden: 1868.0

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 (86%)
• Race & ethnicity: Black 86% White 6% Hispanic / Latino 4% Two or more races 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -0.57%
• Current HPI: 427.4453
• Rent YoY: ▲ 5.25%
• 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

-82.3% since first listed

37 events — show timeline

• 2026-05-21 Coming Soon $135,000 BRIGHT MLS
• 2024-02-28 Sold (Public Records) $63,000 Public Records
• 2024-01-20 Rental Removed $1,250 APPFOLIO
• 2024-01-12 Listed for Rent $1,250 APPFOLIO
• 2023-11-27 Sold (MLS) $63,000 BRIGHT MLS
• 2023-11-06 Pending — BRIGHT MLS
• 2023-11-02 Price Changed $65,000 BRIGHT MLS
• 2023-11-02 Relisted — BRIGHT MLS
• 2023-09-11 Pending — BRIGHT MLS
• 2023-09-11 Listing Removed — BRIGHT MLS
• 2023-08-15 Relisted — BRIGHT MLS
• 2023-08-07 Pending — BRIGHT MLS
• 2023-07-20 Listed $80,000 BRIGHT MLS
• 2018-04-28 Price Changed $12,500 BRIGHT MLS
• 2017-11-29 Price Changed $12,500 MRIS
• 2017-11-27 Sold (MLS) $12,500 MRIS
• 2017-11-27 Sold (MLS) $12,500 BRIGHT MLS
• 2017-11-22 Pending — MRIS
• 2017-09-08 Price Changed $24,900 MRIS
• 2017-08-28 Relisted — MRIS
• 2017-08-07 Delisted — MRIS
• 2017-08-06 Listed $29,900 MRIS
• 2017-08-05 Listed $24,900 BRIGHT MLS
• 2008-10-29 Delisted — MRIS
• 2008-08-19 Listed — MRIS
• 2007-11-15 Sold (MLS) $25,650 MRIS
• 2007-11-06 Delisted — MRIS
• 2007-10-04 Listed $29,000 MRIS
• 2006-06-30 Sold (MLS) $11,500 MRIS
• 2006-04-13 Delisted — MRIS
• 2005-12-20 Listed $9,500 MRIS
• 2005-09-20 Delisted — MRIS
• 2004-06-02 Listed — MRIS
• 2003-08-29 Delisted — MRIS
• 2003-05-20 Listed — MRIS
• 1998-12-18 Sold (Public Records) $50,500 Public Records
• 1984-06-14 Sold (Public Records) $762,200 Public Records

Property tax history

+16.5%/yr

Latest (2025): $705 · +20.0% YoY. Source: county tax records.