2541 Christian St · Baltimore, MD 21223

$75,000

3 bd · 1.0 ba · 1,248 sqft · Townhouse public records · 140 Days on market

Built 1920 $60/sqft · 9% above area Est $69k · 9% over

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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
• Rent growth +4.4/5.0
• Livability +3.8/5.0
• ARV discount +3.5/15.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming, well-maintained home near St. Agnes Hospital, offering classic architectural details including a beautiful wood banister and stained-glass windows. Double-door entry opens to an inviting open floor plan with the living room, dining room, and kitchen connected by graceful archways and column beams. Three well-sized bedrooms and one full bathroom are located on the same level. Move-in ready and ideally suited for owner-occupants or as a strong rental opportunity due to its proximity to major medical and employment centers.

Key facts

• Open floor plan
• Wood banister
• Double door entry

Tags

• CLASSIC ARCHITECTURAL DETAILS
• WOOD BANISTER
• STAINED GLASS WINDOWS
• DOUBLE DOOR ENTRY
• OPEN FLOOR PLAN
• GRACEFUL ARCHWAYS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $75k.

Deal economics

• At list price, monthly cash flow is $771 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.6% 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 43% 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 $519 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 $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 140 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $15k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 140 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 2.18% ✓
• Cap rate: 18.63%
• Cash-on-cash: 44.06%
• DSCR: 2.96
• GRM: 3.8

CMA / ARV

• ARV (median comp): $68,844
• List price: $75,000
• Delta: 8.94%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2402 Wilkens Ave	0.11mi	2/1.0 (-1)	1,092 (-12%)	0mo	$45,000	$41	69
2408 Wilkens Ave	0.10mi	3/2.0	1,092 (-12%)	2mo	$99,900	$91	69
1834 Wilkens Ave	0.56mi	3/1.0	1,200 (-4%)	3mo	$36,000	$30	65
2516 W Fairmount Ave	0.62mi	3/1.0	1,304 (+4%)	2mo	$30,000	$23	62
2576 W Baltimore St W	0.59mi	3/2.0	1,200 (-4%)	2mo	$152,000	$127	60
2544 W Fairmount Ave	0.62mi	2/1.5 (-1)	1,204 (-4%)	2mo	$55,000	$46	56
3017 Frederick Ave	0.61mi	4/3.0 (+1)	1,260 (+1%)	2mo	$217,000	$172	55
43 Wheeler Ave N	0.65mi	3/1.0	1,144 (-8%)	3mo	$34,000	$30	54
2216 W Fayette St	0.71mi	3/1.5	1,326 (+6%)	1mo	$77,000	$58	53
2141 Vine St	0.74mi	2/1.0 (-1)	1,200 (-4%)	3mo	$20,000	$17	52
1933 W Pratt St	0.56mi	4/— (+1)	1,365 (+9%)	2mo	$30,000	$22	52
2008 Wilkens Ave	0.43mi	2/1.5 (-1)	1,100 (-12%)	4mo	$145,000	$132	50

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: 46.1%
• Equity multiple: 3.13×
• Total profit: $44,731
• Equity at exit: $11,183

10-year hold

• IRR: 53.8%
• Equity multiple: 7.53×
• Total profit: $137,207
• Equity at exit: $6,485

Cash invested: $21,000 (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: 3.8×

Monthly cashflow live

• Estimated rent: $1,634 high
• Mortgage (P&I): −$393
• Tax from tax record: −$95 /mo · $1,145/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $771

Break-even live

Break-even rent $658

Max offer price $75,000

Occupancy floor 48%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2509 Christian St Baltimore, MD	4.0	2.0	1248	$1,699	$1.36	3d	1	0.05mi
2514 Wilkens Ave Baltimore, MD	4.0	1.0	1344	$1,800	$1.34	11d	1	0.07mi
2514 Wilkens Ave Baltimore, MD	4.0	1.0	1344	$1,800	$1.34	43d	1	0.07mi
2657 Lehman St Unit 1 Baltimore, MD	2.0	1.0	1056	$1,000	$0.95	43d	1	0.13mi
2671 Saint Benedict St Baltimore, MD	2.0	1.0	1144	$1,325	$1.16	43d	1	0.13mi
2540 Frederick Ave Baltimore, MD	3.0	1.0	1075	$1,400	$1.30	24d	1	0.21mi
332 S Franklintown Rd Unit 2 Baltimore, MD	2.0	1.0	776	$795	$1.02	24d	1	0.23mi
2738 Wilkens Ave Baltimore, MD	3.0	1.0	1183	$1,500	$1.27	43d	1	0.25mi
2737 Wilkens Ave Baltimore, MD	3.0	1.5	1232	$1,650	$1.34	4d	1	0.26mi
110 S Catherine St Unit 1 Baltimore, MD	2.0	1.0	1330	$1,500	$1.13	43d	1	0.36mi
307 S Smallwood St Baltimore, MD	2.0	2.5	1400	$1,350	$0.96	43d	1	0.38mi
514 S Payson St Unit 2 Baltimore, MD	3.0	2.0	1264	$1,750	$1.38	43d	1	0.45mi
2537 Hollins St Baltimore, MD	3.0	2.0	1200	$1,450	$1.21	24d	1	0.46mi
2516 Hollins St Baltimore, MD	3.0	2.0	1100	$1,700	$1.55	43d	1	0.48mi
2225 W Baltimore St Baltimore, MD	3.0	2.5	1200	$1,600	$1.33	24d	1	0.57mi
2232 W Baltimore St Baltimore, MD	3.0	1.0	1250	$1,875	$1.50	24d	1	0.59mi
62 N Gorman Ave Baltimore, MD	3.0	2.0	1100	$2,500	$2.27	18d	1	0.64mi
3130 Stafford St Baltimore, MD	3.0	1.0	1200	$1,500	$1.25	20d	1	0.70mi
1918 W Baltimore St Baltimore, MD	2.0–3.0	1.0–2.0	857	$1,434	$1.67	43d	1	0.73mi
1912 W Baltimore St Unit 2 Baltimore, MD	2.0	1.5	1200	$2,100	$1.75	24d	1	0.74mi
1839 W Fayette St Baltimore, MD	3.0	1.5	1426	$1,675	$1.17	24d	1	0.82mi
1635 Frederick Ave Baltimore, MD	3.0	2.0	1224	$1,850	$1.51	43d	1	0.86mi
2012 W Saratoga St Baltimore, MD	3.0	1.0	1300	$1,700	$1.31	24d	1	0.91mi
1601 Frederick Ave Unit 3 Baltimore, MD	2.0	1.0	1050	$1,050	$1.00	4d	1	0.91mi
1931 Griffis Ave Baltimore, MD	2.0	1.0	912	$1,349	$1.48	4d	1	0.91mi
2815 W Mulberry St Baltimore, MD	4.0	2.0	1040	$2,050	$1.97	43d	1	0.94mi
305 S Calhoun St Baltimore, MD	2.0	1.0	1000	$1,300	$1.30	22d	1	0.95mi
2609 Lauretta Ave Baltimore, MD	3.0	1.0	1286	$1,675	$1.30	24d	1	0.97mi
1846 W Saratoga St Unit 1 Baltimore, MD	2.0	1.0	1250	$1,300	$1.04	43d	1	0.97mi
2636 Lauretta Ave Baltimore, MD	3.0	2.5	1232	$1,900	$1.54	43d	1	1.00mi
3336 W Caton Ave Baltimore, MD	3.0	2.0	1236	$1,625	$1.31	24d	1	1.02mi
1324 W Lombard St Unit 2 Baltimore, MD	2.0	1.5	1100	$1,450	$1.32	43d	1	1.03mi
1324 W Lombard St Unit 1 Baltimore, MD	2.0	2.0	1100	$1,500	$1.36	24d	1	1.03mi
2056 Griffis Ave Baltimore, MD	3.0	1.5	1230	$1,495	$1.22	22d	1	1.04mi
3310 Elbert St Baltimore, MD	2.0	1.0	920	$1,550	$1.68	24d	1	1.04mi
1303 James St Baltimore, MD	2.0	1.5	1160	$1,350	$1.16	24d	1	1.05mi
1262 Glyndon Ave Baltimore, MD	2.0	3.0	1258	$1,850	$1.47	24d	1	1.05mi
1432 Carroll St Baltimore, MD	2.0	1.5	912	$1,900	$2.08	43d	1	1.05mi
1315 Hollins St Unit 2 Baltimore, MD	3.0	2.0	1096	$1,860	$1.70	4d	1	1.06mi
1315 Hollins St Unit 2 Baltimore, MD	3.0	2.0	1096	$1,950	$1.78	12d	1	1.06mi

Listing history 22 events

1. 2026-06-18
   days on market $75,000 Active 140 DOM
2. 2026-06-17
   days on market $75,000 Active 139 DOM
3. 2026-06-16
   days on market $75,000 Active 138 DOM
4. 2026-06-15
   days on market $75,000 Active 137 DOM
5. 2026-06-13
   days on market $75,000 Active 135 DOM
6. 2026-06-10
   price $75,000 Active 131 DOM
7. 2026-06-09
   days on market $81,000 Active 131 DOM
8. 2026-06-08
   days on market $81,000 Active 130 DOM
9. 2026-06-07
   days on market $81,000 Active 129 DOM
10. 2026-06-04
    days on market $81,000 Active 126 DOM
11. 2026-06-03
    days on market $81,000 Active 125 DOM
12. 2026-06-02
    days on market $81,000 Active 124 DOM
13. 2026-06-01
    days on market $81,000 Active 123 DOM
14. 2026-05-31
    days on market $81,000 Active 122 DOM
15. 2026-04-30
    price $81,000 536-char remark

    Show marketing remark (536 chars)

    Charming, well-maintained home near St. Agnes Hospital, offering classic architectural details including a beautiful wood banister and stained-glass windows. Double-door entry opens to an inviting open floor plan with the living room, dining room, and kitchen connected by graceful archways and column beams. Three well-sized bedrooms and one full bathroom are located on the same level. Move-in ready and ideally suited for owner-occupants or as a strong rental opportunity due to its proximity to major medical and employment centers.

16. 2026-01-29
    listed $90,000 Active 536-char remark

    Show marketing remark (536 chars)

    Charming, well-maintained home near St. Agnes Hospital, offering classic architectural details including a beautiful wood banister and stained-glass windows. Double-door entry opens to an inviting open floor plan with the living room, dining room, and kitchen connected by graceful archways and column beams. Three well-sized bedrooms and one full bathroom are located on the same level. Move-in ready and ideally suited for owner-occupants or as a strong rental opportunity due to its proximity to major medical and employment centers.

17. 2022-01-18
    soldstatus $55,000
18. 2021-12-22
    soldstatus $55,000 Closed 398-char remark

    Show marketing remark (398 chars)

    Well kept home near St Agnus hospital. Lots of old world charm in this home. From beautiful wood banister, to stain glass windows. The entry way has double doors that leads into an open floor plan. The Living room, dining room and kitchen are connect with large archways and Colum beams. This home has 3 nice size bedrooms and bathroom on same floor. Move in ready. Don't hesitate wont last long.

19. 2021-12-17
    listed Active Under Contract 398-char remark

    Show marketing remark (398 chars)

    Well kept home near St Agnus hospital. Lots of old world charm in this home. From beautiful wood banister, to stain glass windows. The entry way has double doors that leads into an open floor plan. The Living room, dining room and kitchen are connect with large archways and Colum beams. This home has 3 nice size bedrooms and bathroom on same floor. Move in ready. Don't hesitate wont last long.

20. 2021-12-16
    soldstatus $55,000 Closed 398-char remark

    Show marketing remark (398 chars)

    Well kept home near St Agnus hospital. Lots of old world charm in this home. From beautiful wood banister, to stain glass windows. The entry way has double doors that leads into an open floor plan. The Living room, dining room and kitchen are connect with large archways and Colum beams. This home has 3 nice size bedrooms and bathroom on same floor. Move in ready. Don't hesitate wont last long.

21. 2021-12-08
    historical Active Under Contract 398-char remark

    Show marketing remark (398 chars)

    Well kept home near St Agnus hospital. Lots of old world charm in this home. From beautiful wood banister, to stain glass windows. The entry way has double doors that leads into an open floor plan. The Living room, dining room and kitchen are connect with large archways and Colum beams. This home has 3 nice size bedrooms and bathroom on same floor. Move in ready. Don't hesitate wont last long.

22. 2021-11-15
    listed $60,000 Active 398-char remark

    Show marketing remark (398 chars)

    Well kept home near St Agnus hospital. Lots of old world charm in this home. From beautiful wood banister, to stain glass windows. The entry way has double doors that leads into an open floor plan. The Living room, dining room and kitchen are connect with large archways and Colum beams. This home has 3 nice size bedrooms and bathroom on same floor. Move in ready. Don't hesitate wont last long.

ⓘ 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: $1,145 · $95/mo
• Projected year-2 tax: $1,145 · $95/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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,609
• − Mortgage interest: −$4,201
• − Property taxes: −$1,145
• − Insurance: −$375
• − Repairs & maintenance: −$1,569
• − Management: −$1,569
• − Depreciation: −$2,182
• Taxable income: $8,569
• Est. tax owed @ 24.0%: −$2,057
• After-tax cash flow: $7,196/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

+35.0% since first listed

8 events — show timeline

• 2026-04-30 Price Changed $81,000 BRIGHT MLS
• 2026-01-29 Listed $90,000 BRIGHT MLS
• 2022-01-18 Sold (Public Records) $55,000 Public Records
• 2021-12-22 Sold (MLS) $55,000 BRIGHT MLS
• 2021-12-17 Listed — BRIGHT MLS
• 2021-12-16 Sold (MLS) $55,000 BRIGHT MLS
• 2021-12-08 Contingent — BRIGHT MLS
• 2021-11-15 Listed $60,000 BRIGHT MLS

Property tax history

+3.2%/yr

Latest (2025): $1,145 · +2.9% YoY. Source: county tax records.