1335 Ward St · Baltimore, MD 21230

$40,000

3 bd · 1.0 ba · 960 sqft · Townhouse public records · 97 Days on market

Built 1875 960 sqft lot

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Why this score? — see what drove the C+ 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 +27.9/30.0
• DSCR +9.9/10.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

ONLINE AUCTION: This auction takes place on the Ashland Auction Group Website Bidding Platform. Bidding begins 6/10/2026 @ 10:00 AM. Bidding ends 6/12/2026 @ 12:30 PM. List Price is Suggested Opening Bid. Deposit: $7,500. This two-story townhouse is located in the Washington Village/Pigtown neighborhood of Baltimore City. Residents can enjoy the nearby attractions and facilities such as the M & T Bank Stadium, Oriole Park at Camden Yards, and Horseshoe Casino. The property is occupied. The area provides easy access to a major traffic artery, Washington Blvd, facilitating connections to the broader Baltimore region.

Key facts

• 2 story townhouse
• Built 1875
• Listed 96 days

Tags

• 2 STORY TOWNHOUSE
• MINUTES TO HORSESHOE CASINO

🔨 Auction listing. The $40,000 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $154,920 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $40k.

Deal economics

• At list price, monthly cash flow is $479 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Recommended offer: $36k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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 soft (-1.0%/yr); 364 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($36k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 22y 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: property tax is 5.8% of price; built in 1875 — 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 $36,400 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1875 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.27% ✓
• Cap rate: 10.00%
• Cash-on-cash: 13.24%
• DSCR: 1.59
• GRM: 6.6

CMA / ARV

• ARV (median comp): $154,920
• List price: $40,000
• Delta: -74.18%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1121 Cleveland St	0.25mi	2/1.0 (-1)	912 (-5%)	2mo	$109,900	$121	74
1133 Sargeant St	0.22mi	2/1.5 (-1)	912 (-5%)	2mo	$67,500	$74	72
1241 W Lombard St	0.49mi	2/1.0 (-1)	963 (+0%)	3mo	$150,000	$156	70
1226 W Pratt St	0.44mi	2/1.5 (-1)	1,000 (+4%)	2mo	$80,000	$80	64
1239 W Lombard St	0.49mi	2/1.0 (-1)	1,000 (+4%)	3mo	$150,000	$150	63
864 Carroll St	0.30mi	2/1.5 (-1)	880 (-8%)	3mo	$89,000	$101	62
884 Washington Blvd	0.34mi	2/1.5 (-1)	1,040 (+8%)	3mo	$200,000	$192	61
802 W Barre St	0.51mi	3/3.0	990 (+3%)	3mo	$285,000	$288	60
1213 Washington Blvd	0.14mi	2/2.5 (-1)	1,080 (+12%)	3mo	$197,000	$182	59
640 Dover St	0.69mi	3/2.0	936 (-2%)	2mo	$220,000	$235	58
703 Dover St	0.64mi	2/2.0 (-1)	1,008 (+5%)	1mo	$225,000	$223	52
1404 Lemmon St	0.50mi	3/2.0	1,100 (+15%)	1mo	$189,000	$172	47

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-338
• Equity at exit: $23,099

10-year hold

• IRR: 6.0%
• Equity multiple: 1.39×
• Total profit: $16,868
• Equity at exit: $13,395

Cash invested: $43,378 (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 21230

• Rents YoY: -1.0%
• Active inventory: 364
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $1,961 high
• Mortgage (P&I): −$812
• Tax est. 1.5%: −$194 /mo · $2,324/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $479

Break-even live

Break-even rent $1,355

Max offer price $154,920

Occupancy floor 71%

Sensitivity live

Price	-10% $586	-5% $532	+0% $479	+5% $425	+10% $372
Rent	-10% $324	-5% $401	+0% $479	+5% $556	+10% $634
Rate	-1.0pp $557	-0.5pp $518	base $479	+0.5pp $438	+1.0pp $398

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: $38,730
• Closing costs: $4,648
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1432 Carroll St Baltimore, MD	2.0	1.5	912	$1,900	$2.08	45d	1	0.14mi
1163 Washington Blvd Baltimore, MD	2.0	2.5	1012	$1,700	$1.68	13d	1	0.15mi
1215 James St Baltimore, MD	2.0	1.0	960	$1,500	$1.56	45d	1	0.15mi
1160 Washington Blvd Baltimore, MD	2.0	1.0	960	$1,575	$1.64	25d	1	0.17mi
1127 Sargeant St Baltimore, MD	2.0	1.5	1080	$1,275	$1.18	25d	1	0.20mi
1142 Sargeant St Baltimore, MD	3.0	2.0	1080	$1,601	$1.48	3d	1	0.20mi
853 Reinhart St Baltimore, MD	2.0	2.5	780	$1,800	$2.31	45d	1	0.29mi
1125 Wicomico St Baltimore, MD	3.0	3.0	1068	$1,955	$1.83	25d	1	0.32mi
923 McHenry St Baltimore, MD	3.0	1.0	1008	$1,625	$1.61	45d	1	0.34mi
847 McHenry St Baltimore, MD	2.0	2.0	952	$1,795	$1.89	5d	1	0.37mi
305 S Calhoun St Baltimore, MD	2.0	1.0	1000	$1,300	$1.30	23d	1	0.37mi
805 Washington Blvd Unit A Baltimore, MD	2.0	2.0	1050	$1,650	$1.57	45d	1	0.37mi
805 Washington Blvd Unit B Baltimore, MD	2.0	2.0	1106	$1,650	$1.49	21d	1	0.37mi
519 Scott St Unit 1 Baltimore, MD	2.0	2.0	800	$2,000	$2.50	45d	1	0.39mi
812 S Paca St Baltimore, MD	3.0	2.0	990	$1,500	$1.52	13d	1	0.49mi
1324 W Lombard St Unit 1 Baltimore, MD	2.0	2.0	1100	$1,500	$1.36	25d	1	0.51mi
1324 W Lombard St Unit 2 Baltimore, MD	2.0	1.5	1100	$1,450	$1.32	45d	1	0.51mi
48 S Carrollton Ave Unit 4 Baltimore, MD	2.0	1.0	670	$1,600	$2.39	45d	1	0.52mi
1315 Hollins St Unit 2 Baltimore, MD	3.0	2.0	1096	$1,860	$1.70	5d	1	0.54mi
1315 Hollins St Unit 2 Baltimore, MD	3.0	2.0	1096	$1,950	$1.78	13d	1	0.54mi
638 S Paca St Unit 2404866494 Baltimore, MD	3.0	1.5	1100	$2,200	$2.00	45d	1	0.57mi
1601 Frederick Ave Unit 3 Baltimore, MD	2.0	1.0	1050	$1,050	$1.00	5d	1	0.69mi
101 N Schroeder St Baltimore, MD	3.0	1.0–2.0	1037	$3,185	$3.07	3d	12	0.71mi
1918 W Baltimore St Baltimore, MD	2.0–3.0	1.0–2.0	857	$1,434	$1.67	45d	1	0.89mi
617 W Lexington St Baltimore, MD	1.0–2.0	1.0	975	$2,200	$2.26	11d	4	0.94mi
11 S Eutaw St Baltimore, MD	1.0–2.0	1.0–2.0	1023	$2,146	$2.10	3d	11	0.98mi
300 W Lombard St Baltimore, MD	2.0	1.0–2.0	686	$1,835	$2.67	3d	7	0.98mi
123 W Barre St #112 Baltimore, MD	2.0	1.5	975	$2,200	$2.26	45d	1	0.99mi
101 W Cross St Baltimore, MD	2.0	1.0–2.0	937	$3,332	$3.55	3d	23	1.00mi
311 W Baltimore St Unit 504 Baltimore, MD	2.0	2.0	1100	$1,999	$1.82	21d	1	1.01mi
126 Burnett St Baltimore, MD	2.0	2.5	984	$2,200	$2.24	25d	1	1.05mi
8 N Howard St Baltimore, MD	2.0	1.0–2.0	1433	$3,600	$2.51	3d	36	1.06mi
305 W Fayette St Baltimore, MD	1.0–2.0	1.0–2.0	895	$1,640	$1.83	45d	1	1.08mi
1403 Race St Baltimore, MD	3.0	3.0	1008	$2,200	$2.18	45d	1	1.09mi
3 Andrew Pl Unit R98 Baltimore, MD	2.0	2.0	975	$2,100	$2.15	13d	1	1.09mi
300 W Fayette St Baltimore, MD	3.0	1.0–3.0	1267	$2,250	$1.78	4d	9	1.09mi
910 S Charles St Unit B Baltimore, MD	2.0	1.0	700	$1,700	$2.43	19d	1	1.09mi
611 S Charles St Baltimore, MD	2.0	1.0–2.0	823	$2,905	$3.53	3d	8	1.10mi
1312 S Hanover St Apt 3 Baltimore, MD	2.0	1.0	750	$2,200	$2.93	45d	1	1.11mi
2 Hopkins Plaza Baltimore, MD	2.0	1.0–2.0	942	$3,115	$3.31	3d	12	1.13mi

Listing history 42 events

1. 2026-06-21
   days on market $40,000 Active 97 DOM
2. 2026-06-18
   days on market $40,000 Active 94 DOM
3. 2026-06-17
   days on market $40,000 Active 93 DOM
4. 2026-06-16
   remarks 627-char remark
5. 2026-06-16
   days on market $40,000 Active 92 DOM
6. 2026-06-15
   days on market $40,000 Active 91 DOM
7. 2026-06-13
   days on market $40,000 Active 89 DOM
8. 2026-06-09
   days on market $40,000 Active 85 DOM
9. 2026-06-08
   days on market $40,000 Active 84 DOM
10. 2026-06-07
    days on market $40,000 Active 83 DOM
11. 2026-06-04
    days on market $40,000 Active 80 DOM
12. 2026-06-03
    days on market $40,000 Active 79 DOM
13. 2026-06-02
    days on market $40,000 Active 78 DOM
14. 2026-06-01
    days on market $40,000 Active 77 DOM
15. 2026-05-31
    days on market $40,000 Active 76 DOM
16. 2026-03-16
    listed $40,000 Active 626-char remark

    Show marketing remark (626 chars)

    ONLINE AUCTION: This auction takes place on the Ashland Auction Group Website Bidding Platform. Bidding begins 6/10/2026 @ 10:00 AM. Bidding ends 6/12/2026 @ 12:30 PM. List Price is Suggested Opening Bid. Deposit: $7,500. This two-story townhouse is located in the Washington Village/Pigtown neighborhood of Baltimore City. Residents can enjoy the nearby attractions and facilities such as the M & T Bank Stadium, Oriole Park at Camden Yards, and Horseshoe Casino. The property is occupied. The area provides easy access to a major traffic artery, Washington Blvd, facilitating connections to the broader Baltimore region.

17. 2025-12-10
    historical
18. 2025-12-09
    status Active
19. 2025-08-22
    historical Active Under Contract
20. 2025-07-17
    price $75,000
21. 2025-04-22
    price $105,000
22. 2025-02-17
    price $115,000
23. 2025-02-11
    price $125,000
24. 2022-12-22
    listed $135,000 Active
25. 2019-01-25
    soldstatus $55,000
26. 2015-03-30
    historical
27. 2015-03-20
    soldstatus $33,000 Sold
28. 2015-03-20
    soldstatus $33,000
29. 2015-03-05
    status Contract
30. 2015-02-18
    historical Temporarily Off-Market
31. 2015-01-05
    listed $43,000 Active
32. 2014-02-07
    historical Withdrawn
33. 2014-02-07
    historical
34. 2013-09-19
    price
35. 2013-06-19
    price
36. 2013-04-02
    listed Active
37. 2013-04-02
    listed $50,000
38. 2005-12-07
    soldstatus $157,000
39. 2004-06-23
    soldstatus $35,000
40. 2004-04-23
    soldstatus $35,000
41. 2004-03-30
    historical
42. 2004-03-11
    listed $35,000

ⓘ 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 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: $23,533
• − Mortgage interest: −$8,678
• − Property taxes: −$2,324
• − Insurance: −$775
• − Repairs & maintenance: −$1,883
• − Management: −$1,883
• − Depreciation: −$4,507
• Taxable income: $3,484
• Est. tax owed @ 24.0%: −$836
• After-tax cash flow: $4,907/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): 32,977
• Household income: $91,842
• Rent vs Own: 49.3% rent · 50.7% own
• Severe rent burden: 1463.0

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 0.63)
• Race & ethnicity: White 55% Black 23% Hispanic / Latino 13% Two or more races 6% Asian 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1%
• Common ancestry: Romanian 5% Lithuanian 2% Italian 2%
• Foreign-born: 10% · Canada, China
• Languages at home: 85% English-only · Spanish 9% Other Indo-European 1% Other Asian/Pacific 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: ▼ -311.43%
• Current HPI: 284.338
• Rent YoY: ▼ -1.00%
• 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

+14.3% since first listed

27 events — show timeline

• 2026-03-16 Listed $40,000 BRIGHT MLS
• 2025-12-10 Listing Removed — BRIGHT MLS
• 2025-12-09 Relisted — BRIGHT MLS
• 2025-08-22 Contingent — BRIGHT MLS
• 2025-07-17 Price Changed $75,000 BRIGHT MLS
• 2025-04-22 Price Changed $105,000 BRIGHT MLS
• 2025-02-17 Price Changed $115,000 BRIGHT MLS
• 2025-02-11 Price Changed $125,000 BRIGHT MLS
• 2022-12-22 Listed $135,000 BRIGHT MLS
• 2019-01-25 Sold (Public Records) $55,000 Public Records
• 2015-03-30 Delisted — MRIS
• 2015-03-20 Sold (MLS) $33,000 BRIGHT MLS
• 2015-03-20 Sold (MLS) $33,000 MRIS
• 2015-03-05 Pending — MRIS
• 2015-02-18 Delisted — MRIS
• 2015-01-05 Listed $43,000 MRIS
• 2014-02-07 Delisted — MRIS
• 2014-02-07 Listing Removed — BRIGHT MLS
• 2013-09-19 Price Changed — MRIS
• 2013-06-19 Price Changed — MRIS
• 2013-04-02 Listed — MRIS
• 2013-04-02 Listed $50,000 BRIGHT MLS
• 2005-12-07 Sold (Public Records) $157,000 Public Records
• 2004-06-23 Sold (Public Records) $35,000 Public Records
• 2004-04-23 Sold (MLS) $35,000 MRIS
• 2004-03-30 Delisted — MRIS
• 2004-03-11 Listed $35,000 MRIS

Property tax history

+4.0%/yr

Latest (2025): $2,598 · +6.4% YoY. Source: county tax records.