6105 Walther Ave · Baltimore, MD 21206

$245,000

3 bd · 1.0 ba · 1,500 sqft · SingleFamily public records · 11 Days on market

Built 1959 9,030 sqft lot Est $261k · 6% under

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Why this score? — see what drove the D 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 +13.9/30.0
• ARV discount +10.3/15.0
• DSCR +4.2/10.0
• 1% rule +3.9/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Rare opportunity to own a well-maintained single-family home in Baltimore City! Welcome to 6105 Walther Avenue, offering 3 bedrooms and 2 full baths with a flexible layout perfect for a variety of living situations. The main level features a bright and inviting living space, a functional kitchen with ample cabinetry, and comfortable bedrooms. The fully finished basement includes a private in-law suite with its own full bath—ideal for extended family, guests, or potential rental income. This home has been thoughtfully cared for and provides both space and versatility. Enjoy a private yard for relaxing or entertaining, along with convenient access to major commuter routes, shopping, din

Key facts

• 9,030 sq ft lot
• Built 1959
• Listed 11 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $245k.

Deal economics

• At list price, monthly cash flow is $29 ($342/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $218k (11.0% below list).
• Recommended offer: $218k (11.0% below list) — sets the bar for 1% rule.

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 (+4.4%/yr); 180 active listings in the ZIP; 28 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).
• This rent runs 41% of the median local income ($65k/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 $2k of loan paydown is wiped out by about $7k 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

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $70k; list at $245k implies a 250% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $218,075 (11.0% below list)

Questions for the listing agent

1. Built in 1959 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.89% ✗
• Cap rate: 6.43%
• Cash-on-cash: 0.50%
• DSCR: 1.02
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $261,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6105 Walther Ave	0.00mi	3/2.0	1,500 (0%)	1mo	$250,000	$167	95
4212 Mary Ave	0.49mi	3/3.0	1,430 (-5%)	3mo	$286,999	$201	59
6016 Burgess Ave	0.60mi	3/1.0	1,378 (-8%)	1mo	$259,000	$188	58
3203 Westfield Ave	0.61mi	3/2.0	1,412 (-6%)	1mo	$275,000	$195	56
6000 Glen Falls Ave	0.21mi	4/2.0 (+1)	1,282 (-14%)	3mo	$205,000	$160	54
4412 Springwood Ave	0.67mi	3/1.5	1,624 (+8%)	3mo	$295,000	$182	51
4103 Glenmore Ave	0.45mi	4/2.5 (+1)	1,666 (+11%)	1mo	$280,000	$168	48
6015 Sefton Ave	0.52mi	3/1.5	1,700 (+13%)	4mo	$270,000	$159	48
3800 E Northern Pkwy	0.70mi	4/2.0 (+1)	1,408 (-6%)	4mo	$305,000	$217	45
3018 Mary Ave	0.73mi	3/1.5	1,320 (-12%)	2mo	$230,000	$174	42
6103 Glenoak Ave	0.49mi	4/3.0 (+1)	1,704 (+14%)	2mo	$286,400	$168	40
4422 Forest View Ave	0.69mi	4/2.0 (+1)	1,686 (+12%)	4mo	$150,000	$89	35

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 · 4.43% rent growth · sell at horizon

5-year hold

• IRR: -13.9%
• Equity multiple: 0.49×
• Total profit: $-34,669
• Equity at exit: $36,530

10-year hold

• IRR: -2.9%
• Equity multiple: 0.79×
• Total profit: $-14,269
• Equity at exit: $21,183

Cash invested: $68,600 (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 21206

• Rents YoY: 4.4%
• Active inventory: 180
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,181 high
• Mortgage (P&I): −$1,285
• Tax from tax record: −$307 /mo · $3,689/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$458
• Net cashflow: $29

Break-even live

Break-even rent $2,145

Max offer price $245,000

Occupancy floor 94%

Sensitivity live

Price	-10% $167	-5% $98	+0% $29	+5% $-41	+10% $-110
Rent	-10% $-144	-5% $-58	+0% $29	+5% $115	+10% $201
Rate	-1.0pp $152	-0.5pp $91	base $29	+0.5pp $-35	+1.0pp $-100

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4111 Century Rd Baltimore, MD	3.0	1.5	1432	$2,500	$1.75	44d	1	0.36mi
6410 Walther Ave Baltimore, MD	2.0	1.0–2.0	1195	$1,995	$1.67	44d	7	0.42mi
3412 Fleetwood Ave Baltimore, MD	3.0	2.5	1620	$2,195	$1.35	44d	1	0.57mi
3510 Hamilton Ave Baltimore, MD	3.0	2.5	2100	$2,300	$1.10	24d	1	0.64mi
5632 Belair Rd Baltimore, MD	3.0	1.5	1260	$2,100	$1.67	24d	1	0.65mi
4308 Hamilton Ave Baltimore, MD	2.0	1.0	1110	$1,416	$1.28	24d	1	0.70mi
3721 Frankford Ave Baltimore, MD	3.0	2.0	1600	$2,050	$1.28	44d	1	0.78mi
3158 Woodring Ave Parkville, MD	3.0	1.5	1500	$1,950	$1.30	24d	1	0.82mi
3802 Biddison Ln Baltimore, MD	4.0	1.5	1443	$2,024	$1.40	12d	1	0.98mi
3514 Ailsa Ave Baltimore, MD	3.0	2.0	1800	$2,200	$1.22	44d	1	1.02mi
2805 Hamilton Ave Baltimore, MD	4.0	2.0	1416	$2,300	$1.62	44d	1	1.07mi
2804 Christopher Ave Baltimore, MD	3.0	2.5	1280	$2,200	$1.72	24d	1	1.10mi
4023 Belwood Ave Baltimore, MD	3.0	1.0	1080	$1,995	$1.85	44d	1	1.12mi
5938 Clayton Ave Baltimore, MD	4.0	2.0	1296	$2,872	$2.22	17d	1	1.13mi
5307 Valiquet Ave Unit A Baltimore, MD	2.0	1.0	1672	$1,375	$0.82	44d	1	1.15mi
29 E Elm Ave Baltimore, MD	3.0	2.0	2052	$3,000	$1.46	5d	1	1.19mi
4104 Parkwood Ave Baltimore, MD	3.0	1.0	1224	$2,800	$2.29	24d	1	1.19mi
35-C Mopec Cir Nottingham, MD	2.0	1.0	1100	$1,445	$1.31	3d	10	1.21mi
3309 Southern Ave Unit 2 Baltimore, MD	2.0	1.0	1200	$1,600	$1.33	13d	1	1.23mi
2900 Ailsa Ave Apt 2 Baltimore, MD	3.0	1.0	1300	$1,750	$1.35	5d	1	1.25mi
3108 Glendale Ave Parkville, MD	3.0	3.0	1224	$2,550	$2.08	24d	1	1.30mi
2911 Shirey Ave Baltimore, MD	4.0	2.0	1680	$2,500	$1.49	21d	1	1.32mi
2807 Shirey Ave Baltimore, MD	4.0	3.0	1190	$2,500	$2.10	15d	1	1.36mi
6612 Birchwood Ave Baltimore, MD	3.0	2.0	1122	$2,300	$2.05	20d	1	1.36mi
4718 Blue Ridge Ave Baltimore, MD	4.0	3.0	1744	$2,400	$1.38	12d	1	1.43mi
4924 Frankford Ave Baltimore, MD	4.0	2.0	1176	$2,600	$2.21	24d	1	1.44mi
5 Belhaven Dr Nottingham, MD	4.0	1.5	1554	$2,000	$1.29	44d	1	1.45mi
4517 Woodlea Ave Baltimore, MD	2.0	2.0	1326	$1,900	$1.43	3d	1	1.48mi

Listing history 3 events

1. 2026-04-13
   status Pending
2. 2026-04-02
   listed $245,000 Active
3. 1985-09-16
   soldstatus $70,000

ⓘ 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: $3,689 · $307/mo
• Projected year-2 tax: $3,689 · $307/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 · 14 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: $26,169
• − Mortgage interest: −$13,724
• − Property taxes: −$3,689
• − Insurance: −$1,225
• − Repairs & maintenance: −$2,094
• − Management: −$2,094
• − Depreciation: −$7,127
• Taxable loss: −$3,783
• Est. tax savings @ 24.0%: +$908
• After-tax cash flow: $1,250/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): 48,902
• Household income: $64,531
• Rent vs Own: 46.8% rent · 53.2% own
• Severe rent burden: 2317.0

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 (73%)
• Race & ethnicity: Black 73% White 20% Two or more races 3% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 3% Ukrainian 1%
• Foreign-born: 8% · Canada
• Languages at home: 92% English-only · Spanish 2% Arabic 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: ▼ -191.83%
• Current HPI: 284.5645
• Rent YoY: ▲ 4.43%
• 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

+250.0% since first listed

3 events — show timeline

• 2026-04-13 Pending — BRIGHT MLS
• 2026-04-02 Listed $245,000 BRIGHT MLS
• 1985-09-16 Sold (Public Records) $70,000 Public Records

Property tax history

-0.9%/yr

Latest (2025): $3,689 · +2.8% YoY. Source: county tax records.