1906 Christian St · Baltimore, MD 21223

$50,000

2 bd · 1.0 ba · 980 sqft · Townhouse · 33 Days on market

Built 1920 1,200 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
• 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 MLS

PUBLIC ONSITE AUCTION: Wed, April 17, 2013 @ 11:30AM. Starting Bid $7,500. 2 Story Brick Townhome in Carrollton Ridge. Property is Vacant. 3BR/1BA, Full Basement. Pre-Bid Offers Accepted. Agents Register Your Clients.

Key facts

• Built 1920
• Listed 33 days

Property features AI

Finance

• Financial info: Ground rent $90 annually; Land assessed value and improvement assessed value recorded; Tax assessed value recorded

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Electric service
• Home design: End of row townhouse; Year built per assessor
• Construction: Stucco exterior; Rubber roof; Other foundation; Includes above-grade and below-grade structures
• Exterior features: Not in a federal flood zone; Tidal water: no

Interior

• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level; 1 full bathroom total
• Heating & cooling: Forced air heating (electric); Central air conditioning (electric); Electric hot water
• Interior features: Estimated living area; Unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $50k.

Deal economics

• At list price, monthly cash flow is $853 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 26.8% 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); 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• This rent runs 40% 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 $346 of loan paydown is wiped out by about $2k 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 $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 29y 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.
• Current owner paid $11k; list at $50k implies a 355% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $48,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 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 1920 — 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: 3.03% ✓
• Cap rate: 26.77%
• Cash-on-cash: 73.13%
• DSCR: 4.25
• GRM: 2.7

CMA / ARV

• ARV (on-the-fly): $113,680
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1607 Lemmon St	0.31mi	1/1.0 (-1)	974 (-1%)	1mo	$20,000	$21	79
2008 Wilkens Ave	0.08mi	2/1.5	1,100 (+12%)	4mo	$145,000	$132	71
1241 W Lombard St	0.57mi	2/1.0	963 (-2%)	3mo	$150,000	$156	68
1239 W Lombard St	0.57mi	2/1.0	1,000 (+2%)	3mo	$150,000	$150	68
1226 W Pratt St	0.57mi	2/1.5	1,000 (+2%)	2mo	$80,000	$80	67
1910 W Fayette St	0.48mi	3/1.0 (+1)	1,020 (+4%)	4mo	$39,000	$38	63
2402 Wilkens Ave	0.40mi	2/1.0	1,092 (+11%)	0mo	$45,000	$41	62
1125 Bayard St	0.58mi	1/2.0 (-1)	1,032 (+5%)	0mo	$120,000	$116	55
2408 Wilkens Ave	0.41mi	3/2.0 (+1)	1,092 (+11%)	2mo	$99,900	$91	51
1133 Sargeant St	0.72mi	2/1.5	912 (-7%)	2mo	$67,500	$74	51
1404 Lemmon St	0.45mi	3/2.0 (+1)	1,100 (+12%)	1mo	$189,000	$172	49
1213 Washington Blvd	0.70mi	2/2.5	1,080 (+10%)	3mo	$197,000	$182	42

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: 77.9%
• Equity multiple: 4.82×
• Total profit: $53,456
• Equity at exit: $7,455

10-year hold

• IRR: 82.7%
• Equity multiple: 11.64×
• Total profit: $149,023
• Equity at exit: $4,323

Cash invested: $14,000 (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: 2.7×

Monthly cashflow live

• Estimated rent: $1,517 high
• Mortgage (P&I): −$262
• Tax from tax record: −$62 /mo · $744/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $853

Break-even live

Break-even rent $437

Max offer price $50,000

Occupancy floor 39%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1712 W Lombard St #4 Baltimore, MD	1.0	1.0	550	$900	$1.64	43d	1	0.28mi
1918 W Baltimore St Baltimore, MD	2.0–3.0	1.0–2.0	857	$1,375	$1.60	43d	1	0.37mi
1601 Frederick Ave Unit 3 Baltimore, MD	2.0	1.0	1050	$1,050	$1.00	4d	1	0.43mi
305 S Calhoun St Baltimore, MD	2.0	1.0	1000	$1,300	$1.30	22d	1	0.43mi
1324 W Lombard St Unit 2 Baltimore, MD	2.0	1.5	1100	$1,450	$1.32	43d	1	0.51mi
1324 W Lombard St Unit 1 Baltimore, MD	2.0	2.0	1100	$1,500	$1.36	24d	1	0.51mi
2540 Frederick Ave Baltimore, MD	3.0	1.0	1075	$1,400	$1.30	24d	1	0.53mi
1315 Hollins St Unit 2 Baltimore, MD	3.0	2.0	1096	$1,950	$1.78	12d	1	0.54mi
1315 Hollins St Unit 2 Baltimore, MD	3.0	2.0	1096	$1,860	$1.70	4d	1	0.54mi
62 N Gorman Ave Baltimore, MD	3.0	2.0	1100	$2,500	$2.27	18d	1	0.56mi
28 N Norris St Baltimore, MD	1.0	2.0	700	$1,450	$2.07	43d	1	0.56mi
332 S Franklintown Rd Unit 2 Baltimore, MD	2.0	1.0	776	$795	$1.02	24d	1	0.58mi
2516 Hollins St Baltimore, MD	3.0	2.0	1100	$1,700	$1.55	43d	1	0.60mi
48 S Carrollton Ave Unit 4 Baltimore, MD	2.0	1.0	670	$1,600	$2.39	43d	1	0.62mi
1215 James St Baltimore, MD	2.0	1.0	960	$1,500	$1.56	43d	1	0.64mi
2657 Lehman St Unit 1 Baltimore, MD	2.0	1.0	1056	$1,000	$0.95	43d	1	0.65mi
1432 Carroll St Baltimore, MD	2.0	1.5	912	$1,900	$2.08	43d	1	0.65mi
1142 Sargeant St Baltimore, MD	3.0	2.0	1080	$1,601	$1.48	2d	1	0.70mi
1160 Washington Blvd Baltimore, MD	2.0	1.0	960	$1,575	$1.64	24d	1	0.72mi
1127 Sargeant St Baltimore, MD	2.0	1.5	1080	$1,275	$1.18	24d	1	0.72mi
1163 Washington Blvd Baltimore, MD	2.0	2.5	1012	$1,700	$1.68	12d	1	0.73mi
923 McHenry St Baltimore, MD	3.0	1.0	1008	$1,625	$1.61	43d	1	0.78mi
847 McHenry St Baltimore, MD	2.0	2.0	952	$1,795	$1.89	4d	1	0.84mi
853 Reinhart St Baltimore, MD	2.0	2.5	780	$1,800	$2.31	43d	1	0.88mi
101 N Schroeder St Baltimore, MD	3.0	1.0–2.0	1037	$2,481	$2.39	2d	12	0.88mi
805 Washington Blvd Unit A Baltimore, MD	2.0	2.0	1050	$1,650	$1.57	43d	1	0.96mi
805 Washington Blvd Unit B Baltimore, MD	2.0	2.0	1106	$1,650	$1.49	20d	1	0.96mi
519 Scott St Unit 1 Baltimore, MD	2.0	2.0	800	$2,000	$2.50	43d	1	0.99mi
1125 Wicomico St Baltimore, MD	3.0	3.0	1068	$1,955	$1.83	24d	1	0.99mi
776 Washington Blvd Unit 3F Baltimore, MD	1.0	1.0	800	$1,000	$1.25	43d	1	1.00mi
1315 Harlem Ave Unit C Baltimore, MD	2.0	1.0	900	$1,425	$1.58	43d	1	1.03mi
1315 Harlem Ave Unit B Baltimore, MD	2.0	1.0	900	$1,425	$1.58	24d	1	1.03mi
1931 Griffis Ave Baltimore, MD	2.0	1.0	912	$1,349	$1.48	4d	1	1.08mi
121 S Fremont Ave Baltimore, MD	1.0	1.0	582	$2,100	$3.61	20d	5	1.09mi
2429 Washington Blvd Baltimore, MD	1.0	1.0	940	$600	$0.64	24d	1	1.09mi
725 W Pratt St Baltimore, MD	1.0	1.0	584	$1,925	$3.29	10d	9	1.11mi
812 S Paca St Baltimore, MD	3.0	2.0	990	$1,500	$1.52	12d	1	1.12mi
1339 W Lafayette Ave #1 Baltimore, MD	2.0	2.0	700	$1,600	$2.29	12d	1	1.16mi
657 Dover St Baltimore, MD	1.0	2.0	1080	$1,400	$1.30	12d	1	1.16mi
653 Dover St Baltimore, MD	1.0	1.5	936	$1,500	$1.60	20d	1	1.17mi

Listing history 42 events

1. 2026-06-18
   days on market $50,000 Active 33 DOM
2. 2026-06-17
   days on market $50,000 Active 32 DOM
3. 2026-06-16
   days on market $50,000 Active 31 DOM
4. 2026-06-15
   days on market $50,000 Active 30 DOM
5. 2026-06-13
   days on market $50,000 Active 28 DOM
6. 2026-06-09
   days on market $50,000 Active 24 DOM
7. 2026-06-08
   days on market $50,000 Active 23 DOM
8. 2026-06-07
   days on market $50,000 Active 22 DOM
9. 2026-06-04
   days on market $50,000 Active 19 DOM
10. 2026-06-03
    days on market $50,000 Active 18 DOM
11. 2026-06-02
    days on market $50,000 Active 17 DOM
12. 2026-06-01
    days on market $50,000 Active 16 DOM
13. 2026-05-31
    days on market $50,000 Active 15 DOM
14. 2026-05-16
    listed $50,000 Active
15. 2019-07-25
    historical
16. 2019-07-06
    price $53,000
17. 2019-06-22
    price $53,500
18. 2019-06-13
    price $54,000
19. 2019-06-06
    listed $55,000 Active
20. 2013-05-23
    soldstatus $11,000 217-char remark

    Show marketing remark (217 chars)

    PUBLIC ONSITE AUCTION: Wed, April 17, 2013 @ 11:30AM. Starting Bid $7,500. 2 Story Brick Townhome in Carrollton Ridge. Property is Vacant. 3BR/1BA, Full Basement. Pre-Bid Offers Accepted. Agents Register Your Clients.

21. 2013-05-23
    soldstatus $11,000 Sold

    Show marketing remark (217 chars)

    PUBLIC ONSITE AUCTION: Wed, April 17, 2013 @ 11:30AM. Starting Bid $7,500. 2 Story Brick Townhome in Carrollton Ridge. Property is Vacant. 3BR/1BA, Full Basement. Pre-Bid Offers Accepted. Agents Register Your Clients.

22. 2013-04-09
    status Contract

    Show marketing remark (217 chars)

    PUBLIC ONSITE AUCTION: Wed, April 17, 2013 @ 11:30AM. Starting Bid $7,500. 2 Story Brick Townhome in Carrollton Ridge. Property is Vacant. 3BR/1BA, Full Basement. Pre-Bid Offers Accepted. Agents Register Your Clients.

23. 2013-04-09
    historical 217-char remark

    Show marketing remark (217 chars)

    PUBLIC ONSITE AUCTION: Wed, April 17, 2013 @ 11:30AM. Starting Bid $7,500. 2 Story Brick Townhome in Carrollton Ridge. Property is Vacant. 3BR/1BA, Full Basement. Pre-Bid Offers Accepted. Agents Register Your Clients.

24. 2013-04-02
    price $7,500
25. 2013-01-25
    price $9,900
26. 2012-12-19
    price $7,500
27. 2012-10-03
    listed $14,900 Active

    Show marketing remark (217 chars)

    PUBLIC ONSITE AUCTION: Wed, April 17, 2013 @ 11:30AM. Starting Bid $7,500. 2 Story Brick Townhome in Carrollton Ridge. Property is Vacant. 3BR/1BA, Full Basement. Pre-Bid Offers Accepted. Agents Register Your Clients.

28. 2012-10-03
    listed $7,500 217-char remark

    Show marketing remark (217 chars)

    PUBLIC ONSITE AUCTION: Wed, April 17, 2013 @ 11:30AM. Starting Bid $7,500. 2 Story Brick Townhome in Carrollton Ridge. Property is Vacant. 3BR/1BA, Full Basement. Pre-Bid Offers Accepted. Agents Register Your Clients.

29. 2011-08-25
    historical Withdrawn
30. 2011-08-25
    historical
31. 2011-08-02
    status Active
32. 2011-07-20
    historical Expired
33. 2011-01-19
    listed Active
34. 2011-01-19
    listed $90,000
35. 2007-12-28
    historical
36. 2007-07-24
    price
37. 2007-06-29
    listed
38. 2007-03-20
    historical
39. 2006-04-30
    listed
40. 1998-04-30
    soldstatus $7,500
41. 1998-02-18
    historical
42. 1997-11-19
    listed $7,000

ⓘ 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: $744 · $62/mo
• Projected year-2 tax: $744 · $62/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: $18,201
• − Mortgage interest: −$2,801
• − Property taxes: −$744
• − Insurance: −$250
• − Repairs & maintenance: −$1,456
• − Management: −$1,456
• − Depreciation: −$1,455
• Taxable income: $10,039
• Est. tax owed @ 24.0%: −$2,409
• After-tax cash flow: $7,829/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

+614.3% since first listed

29 events — show timeline

• 2026-05-16 Listed $50,000 BRIGHT MLS
• 2019-07-25 Listing Removed — BRIGHT MLS
• 2019-07-06 Price Changed $53,000 BRIGHT MLS
• 2019-06-22 Price Changed $53,500 BRIGHT MLS
• 2019-06-13 Price Changed $54,000 BRIGHT MLS
• 2019-06-06 Listed $55,000 BRIGHT MLS
• 2013-05-23 Sold (MLS) $11,000 MRIS
• 2013-05-23 Sold (MLS) $11,000 BRIGHT MLS
• 2013-04-09 Pending — MRIS
• 2013-04-09 Listing Removed — BRIGHT MLS
• 2013-04-02 Price Changed $7,500 MRIS
• 2013-01-25 Price Changed $9,900 MRIS
• 2012-12-19 Price Changed $7,500 MRIS
• 2012-10-03 Listed $14,900 MRIS
• 2012-10-03 Listed $7,500 BRIGHT MLS
• 2011-08-25 Delisted — MRIS
• 2011-08-25 Listing Removed — BRIGHT MLS
• 2011-08-02 Relisted — MRIS
• 2011-07-20 Delisted — MRIS
• 2011-01-19 Listed — MRIS
• 2011-01-19 Listed $90,000 BRIGHT MLS
• 2007-12-28 Delisted — MRIS
• 2007-07-24 Price Changed — MRIS
• 2007-06-29 Listed — MRIS
• 2007-03-20 Delisted — MRIS
• 2006-04-30 Listed — MRIS
• 1998-04-30 Sold (MLS) $7,500 MRIS
• 1998-02-18 Delisted — MRIS
• 1997-11-19 Listed $7,000 MRIS

Property tax history

+7.2%/yr

Latest (2025): $744 · +15.9% YoY. Source: county tax records.