1310 W Fairmount Ave · Baltimore, MD 21223

$120,000

None bd · None ba · 2,400 sqft · MultiFamily · 34 Days on market

Built 1915 Excellent condition 2,400 sqft lot $50/sqft · 54% below area

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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
• ARV discount +7.5/15.0
• Condition / age +5.0/5.0
• Rent growth +4.4/5.0
• Livability +3.8/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Key facts

• 2,400 sq ft lot
• Built 1915
• Listed 34 days

Property features AI

Finance

• Other: Ownership is fee simple; Four total units

Exterior

• Parking: On-street parking
• Utilities: Public water hook-up available; Public sewer hook-up available
• Home design: Detached structure; Above-grade finished area approximately 2,400
• Construction: Brick construction; Brick/mortar foundation; Other above-grade structures present; Major rehab needed; Year built estimated
• Exterior features: Property backs to parkland; Additional private lot(s)

Interior

• Interior features: Living area reported as estimated

What this means for you Summary

Snapshot

• This is a multifamily listed at $120k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $756 ($9k/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 13.9% 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 25d on market — plan ~3-4 weeks tenant-placement turnaround); 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• At $2,006/mo this rent would consume 53% of the median local household income ($46k/yr) (locally 1755% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 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 + 7.5% rent growth), your $34k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.

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 $116,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 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 1915 — 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.67% ✓
• Cap rate: 13.85%
• Cash-on-cash: 26.99%
• DSCR: 2.20
• GRM: 5.0

CMA / ARV

• ARV (median comp): $260,666
• List price: $120,000
• Delta: -53.96%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
51& 53 S Carrollton Ave	0.20mi	4/—	2,400 (0%)	10mo	$250,000	$104	82
1317 Hollins St	0.13mi	5/—	2,526 (+5%)	15mo	$185,000	$73	73
40 S Carrollton Ave	0.15mi	4/—	2,295 (-4%)	19mo	$400,000	$174	70
1315 Harlem Ave	0.52mi	7/—	2,520 (+5%)	5mo	$500,000	$198	64
31 S Arlington Ave	0.23mi	1/—	2,700 (+12%)	10mo	$350,000	$130	60
1706 Harlem Ave	0.60mi	3/3.0	2,520 (+5%)	6mo	$150,000	$60	59
1717 W Lombard St	0.37mi	—/—	2,482 (+3%)	22mo	$270,000	$109	58
207 S Fremont Ave	0.68mi	5/5.0	2,356 (-2%)	17mo	$715,000	$303	51
750 Dolphin St	0.66mi	4/3.0	2,640 (+10%)	5mo	$310,000	$117	49

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: 26.0%
• Equity multiple: 2.14×
• Total profit: $38,238
• Equity at exit: $17,892

10-year hold

• IRR: 36.3%
• Equity multiple: 5.12×
• Total profit: $138,277
• Equity at exit: $10,375

Cash invested: $33,600 (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: 5.0×

Monthly cashflow live

• Estimated rent: $2,006 high
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,800/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$421
• Net cashflow: $756

Break-even live

Break-even rent $1,050

Max offer price $120,000

Occupancy floor 57%

Sensitivity live

Price	-10% $839	-5% $797	+0% $756	+5% $714	+10% $673
Rent	-10% $597	-5% $677	+0% $756	+5% $835	+10% $914
Rate	-1.0pp $816	-0.5pp $786	base $756	+0.5pp $725	+1.0pp $693

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1328 W Lombard St Baltimore, MD	3.0	3.5	2312	$3,600	$1.56	13d	1	0.16mi
1518 1/2 W Lexington St Baltimore, MD	2.0	2.0	1650	$1,200	$0.73	5d	1	0.20mi
1138 W Lombard St Baltimore, MD	3.0	3.5	2400	$1,795	$0.75	24d	1	0.21mi
1725 Hollins St #3 Baltimore, MD	2.0	1.0	2796	$1,195	$0.43	44d	1	0.33mi
1725 Hollins St Unit 4 Baltimore, MD	2.0	1.0	2796	$1,195	$0.43	45d	1	0.33mi
110 S Poppleton St Baltimore, MD	3.0	1.5	1800	$1,900	$1.06	44d	1	0.40mi
1814 Penrose Ave Baltimore, MD	3.0	1.0	1624	$1,700	$1.05	18d	1	0.42mi
1509 Edmondson Ave #1 Baltimore, MD	3.0	2.0	1600	$2,275	$1.42	24d	1	0.46mi
853 W Lombard St Baltimore, MD	3.0	2.5	2824	$2,650	$0.94	24d	1	0.52mi
804 Hollins St Unit 1 Baltimore, MD	3.0	2.0	1800	$2,700	$1.50	5d	1	0.55mi
1102 Carroll St Unit B Baltimore, MD	1.0	1.5	2285	$800	$0.35	5d	1	0.62mi
1012 W Lanvale St Baltimore, MD	2.0	2.0	2008	$1,925	$0.96	24d	1	0.68mi
217 S Fremont Ave Baltimore, MD	3.0	3.5	3338	$3,000	$0.90	44d	1	0.69mi
519 Scott St Unit 2 Baltimore, MD	3.0	3.0	1600	$3,000	$1.88	44d	1	0.72mi
39 N Bentalou St Baltimore, MD	3.0	2.5	1844	$1,700	$0.92	3d	1	0.73mi
1613 Riggs Ave Baltimore, MD	3.0	2.5	1800	$1,800	$1.00	24d	1	0.86mi
912 S Paca St Baltimore, MD	3.0	2.0	2000	$2,250	$1.12	44d	1	0.86mi
617 S Paca St Unit A Baltimore, MD	1.0	1.0	2528	$1,550	$0.61	18d	1	0.88mi
476 S Bentalou St Baltimore, MD	2.0	1.5	1630	$1,300	$0.80	44d	1	0.90mi
549 Mosher St Baltimore, MD	3.0	1.0	2200	$1,350	$0.61	44d	1	1.00mi
300 W Fayette St Baltimore, MD	3.0	1.0–3.0	1267	$1,865	$1.47	3d	9	1.03mi
8 N Howard St Baltimore, MD	2.0	1.0–2.0	1433	$3,600	$2.51	2d	36	1.03mi
1614 McCulloh St #1 Baltimore, MD	3.0	3.0	2885	$2,400	$0.83	44d	1	1.18mi
1516 N Mount St Baltimore, MD	3.0	1.5	1830	$1,750	$0.96	15d	1	1.21mi
7 W Mulberry St Unit 05 Baltimore, MD	3.0	2.0	1940	$1,750	$0.90	24d	1	1.28mi
1927 Druid Hill Ave #2 Baltimore, MD	3.0	2.0	3312	$2,350	$0.71	44d	1	1.28mi
1616 N Fulton Ave Baltimore, MD	3.0	2.0	1620	$1,795	$1.11	5d	1	1.31mi
1702 Eutaw Pl Baltimore, MD	2.0	2.0	2000	$1,550	$0.78	18d	1	1.32mi
19 E Fayette St Apt 502 Baltimore, MD	2.0	1.5	2063	$1,895	$0.92	4d	1	1.33mi
19 E Fayette St Baltimore, MD	1.0–2.0	1.0–1.5	1342	$1,825	$1.36	13d	5	1.33mi
19 E Fayette St Apt 501 Baltimore, MD	2.0	1.5	2063	$1,795	$0.87	4d	1	1.33mi
1929 McCulloh St Baltimore, MD	3.0	2.5	3293	$2,595	$0.79	44d	1	1.34mi
802 Cathedral St Unit 4 Baltimore, MD	2.0	1.0	1600	$1,600	$1.00	5d	1	1.34mi
2014 McCulloh St Unit 1 Baltimore, MD	1.0	1.0	2440	$1,200	$0.49	44d	1	1.34mi
2020 McCulloh St Unit 2 Baltimore, MD	2.0	2.0	2440	$1,950	$0.80	44d	1	1.35mi
2020 McCulloh St Unit 1 Baltimore, MD	2.0	2.0	2440	$1,650	$0.68	44d	1	1.35mi
1633 N Payson St Baltimore, MD	1.0	1.0	2634	$800	$0.30	44d	1	1.39mi
414 Light St Unit 4304 Baltimore, MD	2.0	2.0	1612	$7,197	$4.46	13d	1	1.40mi
1020 Park Ave Baltimore, MD	2.0	2.0–2.5	2004	$3,712	$1.85	3d	11	1.41mi
1427 Bolton St Unit 2 Baltimore, MD	2.0	2.0	1802	$3,600	$2.00	5d	1	1.43mi

Listing history 14 events

1. 2026-06-18
   days on market $120,000 Coming Soon 34 DOM
2. 2026-06-17
   days on market $120,000 Coming Soon 33 DOM
3. 2026-06-16
   days on market $120,000 Coming Soon 32 DOM
4. 2026-06-15
   days on market $120,000 Coming Soon 31 DOM
5. 2026-06-13
   days on market $120,000 Coming Soon 29 DOM
6. 2026-06-09
   days on market $120,000 Coming Soon 25 DOM
7. 2026-06-08
   days on market $120,000 Coming Soon 24 DOM
8. 2026-06-07
   days on market $120,000 Coming Soon 23 DOM
9. 2026-06-04
   days on market $120,000 Coming Soon 20 DOM
10. 2026-06-03
    days on market $120,000 Coming Soon 19 DOM
11. 2026-06-02
    days on market $120,000 Coming Soon 18 DOM
12. 2026-06-01
    days on market $120,000 Coming Soon 17 DOM
13. 2026-05-31
    days on market $120,000 Coming Soon 16 DOM
14. 2026-05-15
    historical $120,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $24,077
• − Mortgage interest: −$6,722
• − Property taxes: −$1,800
• − Insurance: −$600
• − Repairs & maintenance: −$1,926
• − Management: −$1,926
• − Depreciation: −$3,491
• Taxable income: $7,612
• Est. tax owed @ 24.0%: −$1,827
• After-tax cash flow: $7,242/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.

Condition & rehab AI · 1 photo

Excellent 100/100 None rehab

This property is move-in ready with no visible issues or repairs needed. The 'Coming Soon' sign suggests it's being prepared for sale or lease.

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

1 event — show timeline

• 2026-05-15 Coming Soon $120,000 BRIGHT MLS