2208 Riggs Ave · Baltimore, MD 21216

$50,000

2 bd · 1.0 ba · 1,192 sqft · Townhouse public records · 44 Days on market

Built 1920 1,200 sqft lot $42/sqft · 59% 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
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Investor alert! Or, if you are looking to make a house your home at a low price on a quiet block, this could be the perfect property for you. Don’t miss this great opportunity! Electric is not on so bring your flash light.

Key facts

• Built 1920
• Listed 44 days

Property features AI

Finance

• Other: Total below-grade area: 596 (unfinished); Above-grade finished area source: Assessor (1,192 finished above grade)
• Financial info: Ownership: Ground rent (amount $96, paid semi-annually); Total actual rent: $18,000 (rental information listed)

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas available; Water available; Sewer available; Phone available; Electric available; Hot water: Natural gas; Cooling fuel: Other
• Home design: Interior townhouse/rowhouse
• Construction: Brick construction; Asphalt roof; Other foundation; Built year source: Assessor
• Exterior features: Front yard; In city limits (Baltimore City); Ground rent exists (semi-annual payment)

Interior

• Bedrooms: 2 bedrooms on the main level
• Flooring: Ceramic tile; Hardwood
• Bathrooms: 1 full bathroom on the main level; 1 half bathroom on the main level (total: 1 half, 1 full)
• Heating & cooling: Radiator heating; Natural gas heating; Cooling: Other
• Interior features: Drywall walls and ceilings; Not furnished; 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 $875 ($11k/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 27.3% 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: 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.
• Zoned schools: Elmer A. Henderson: A Johns Hopkins Partnership (math 2% / reading 16%, grade F, #650 of 860 statewide, top 77%, 642 students, 80% FRL); Baltimore Polytechnic Institute (math 71% / reading 84%, grade A-, #22 of 222 statewide, top 10%, 1,555 students, 43% FRL) — zoned schools average 62% FRL vs 79% district-wide (17 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 43% at this address vs 12% district-wide (+32 pts) — the actual schools serving this property are materially stronger than the Baltimore City Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+6.1%/yr); 252 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• This rent runs 44% of the median local income ($42k/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 + 6.1% 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 44 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.

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 44 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: 3.10% ✓
• Cap rate: 27.30%
• Cash-on-cash: 75.03%
• DSCR: 4.34
• GRM: 2.7

CMA / ARV

• ARV (median comp): $121,788
• List price: $50,000
• Delta: -58.95%
• 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
1537 N Smallwood St	0.36mi	3/1.5 (+1)	1,200 (+1%)	3mo	$56,000	$47	72
1707 N Pulaski St	0.50mi	3/2.0 (+1)	1,200 (+1%)	0mo	$115,000	$96	67
1541 N Pulaski St	0.38mi	3/1.0 (+1)	1,100 (-8%)	3mo	$115,000	$105	62
2435 Lauretta Ave	0.51mi	3/1.0 (+1)	1,260 (+6%)	1mo	$45,000	$36	61
1552 N Fulton Ave	0.50mi	3/1.0 (+1)	1,113 (-7%)	4mo	$125,000	$112	58
2711 Riggs Ave	0.52mi	3/1.0 (+1)	1,288 (+8%)	2mo	$134,000	$104	56
2801 Presbury St	0.75mi	3/1.0 (+1)	1,200 (+1%)	4mo	$60,000	$50	56
2649 W Lafayette Ave	0.50mi	3/2.0 (+1)	1,260 (+6%)	3mo	$210,000	$167	56
1927 Penrose Ave	0.72mi	3/1.0 (+1)	1,170 (-2%)	4mo	$40,000	$34	55
2727 Baker St	0.60mi	3/1.0 (+1)	1,116 (-6%)	3mo	$125,000	$112	54
1906 W Saratoga St	0.66mi	3/1.5 (+1)	1,273 (+7%)	2mo	$155,000	$122	49
1201 N Calhoun St	0.68mi	3/2.5 (+1)	1,080 (-9%)	5mo	$102,000	$94	38

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 · 6.1% rent growth · sell at horizon

5-year hold

• IRR: 78.4%
• Equity multiple: 4.76×
• Total profit: $52,652
• Equity at exit: $7,455

10-year hold

• IRR: 82.8%
• Equity multiple: 10.96×
• Total profit: $139,509
• 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 21216

• Rents YoY: 6.1%
• Active inventory: 252
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,548 high
• Mortgage (P&I): −$262
• Tax from tax record: −$65 /mo · $775/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $875

Break-even live

Break-even rent $440

Max offer price $50,000

Occupancy floor 38%

Sensitivity live

Price	-10% $904	-5% $889	+0% $875	+5% $861	+10% $847
Rent	-10% $753	-5% $814	+0% $875	+5% $936	+10% $998
Rate	-1.0pp $901	-0.5pp $888	base $875	+0.5pp $862	+1.0pp $849

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
2301 Riggs Ave Baltimore, MD	3.0	2.0	1072	$1,600	$1.49	25d	1	0.07mi
918 N Bentalou St Baltimore, MD	3.0	1.5	1485	$1,750	$1.18	45d	1	0.14mi
1501 N Payson St Baltimore, MD	3.0	1.0	1400	$1,550	$1.11	45d	1	0.35mi
1617 Moreland Ave Baltimore, MD	2.0	1.0	900	$1,450	$1.61	25d	1	0.43mi
1617 Moreland Ave Baltimore, MD	2.0	1.0	871	$1,450	$1.66	0d	1	0.43mi
919 Claymont Ave Baltimore, MD	2.0	1.0	1006	$1,342	$1.33	0d	2	0.43mi
813 N Fulton Ave Unit 1 Baltimore, MD	2.0	1.0	1200	$1,350	$1.12	45d	1	0.45mi
1433 N Fulton Ave Baltimore, MD	2.0	1.0	1200	$1,500	$1.25	45d	1	0.47mi
1617-A Moreland Ave Unit 2nd Flr Baltimore, MD	2.0	1.0	1500	$1,400	$0.93	45d	1	0.48mi
2728 Winchester St Baltimore, MD	3.0	1.5	1260	$1,800	$1.43	5d	1	0.52mi
1816 N Bentalou St Baltimore, MD	3.0	2.0	1350	$1,700	$1.26	12d	1	0.56mi
1816 N Bentalou St Baltimore, MD	3.0	2.0	1350	$1,700	$1.26	25d	1	0.56mi
1722 N Monroe St Baltimore, MD	3.0	1.5	1000	$1,350	$1.35	25d	1	0.57mi
2806 Riggs Ave Baltimore, MD	3.0	2.5	1412	$1,900	$1.35	5d	1	0.58mi
2609 Lauretta Ave Baltimore, MD	3.0	1.0	1286	$1,675	$1.30	25d	1	0.62mi
2636 Lauretta Ave Baltimore, MD	3.0	2.5	1232	$1,900	$1.54	45d	1	0.62mi
1729 N Fulton Ave Baltimore, MD	3.0	2.0	1081	$1,795	$1.66	45d	1	0.64mi
2800 Presstman St Baltimore, MD	3.0	2.5	1460	$1,799	$1.23	25d	1	0.64mi
2012 W Saratoga St Baltimore, MD	3.0	1.0	1300	$1,700	$1.31	25d	1	0.64mi
1930 N Payson St Baltimore, MD	2.0	2.0	980	$1,500	$1.53	25d	1	0.68mi
1534 N Stricker St Baltimore, MD	2.0	1.5	900	$1,475	$1.64	16d	1	0.69mi
1614 N Calhoun St Baltimore, MD	2.0	1.0	950	$1,300	$1.37	45d	1	0.69mi
1846 W Saratoga St Unit 1 Baltimore, MD	2.0	1.0	1250	$1,300	$1.04	45d	1	0.70mi
1806 N Mount St Baltimore, MD	3.0	3.0	1200	$1,700	$1.42	21d	1	0.70mi
2005 Penrose Ave Baltimore, MD	3.0	1.0	1232	$1,600	$1.30	0d	1	0.71mi
1339 W Lafayette Ave #1 Baltimore, MD	2.0	2.0	700	$1,600	$2.29	14d	1	0.72mi
2636 W North Ave Baltimore, MD	2.0–3.0	1.0–2.0	975	$1,300	$1.33	6d	1	0.73mi
1624 Westwood Ave Baltimore, MD	3.0	2.0	1000	$1,900	$1.90	45d	1	0.73mi
1562 N Woodyear St Baltimore, MD	2.0	1.5	788	$1,325	$1.68	25d	1	0.74mi
2204 Clifton Ave Baltimore, MD	3.0	1.0	1400	$1,450	$1.04	6d	1	0.75mi
1346 N Carey St Baltimore, MD	2.0	1.5	1100	$1,500	$1.36	45d	1	0.78mi
1315 Harlem Ave Unit C Baltimore, MD	2.0	1.0	900	$1,425	$1.58	45d	1	0.78mi
1315 Harlem Ave Unit B Baltimore, MD	2.0	1.0	900	$1,425	$1.58	25d	1	0.78mi
3003 Presstman St Unit 2 Baltimore, MD	2.0	1.0	1450	$1,300	$0.90	25d	1	0.81mi
3003 Presstman St Unit 1 Baltimore, MD	2.0	2.0	1450	$1,400	$0.97	46d	1	0.81mi
62 N Gorman Ave Baltimore, MD	3.0	2.0	1100	$2,500	$2.27	19d	1	0.82mi
3015 Rayner Ave Baltimore, MD	3.0	1.0	1152	$1,350	$1.17	45d	1	0.83mi
2614 Pennsylvania Ave Baltimore, MD	1.0–3.0	1.0–2.0	982	$876	$0.89	6d	4	0.85mi
1042 Ellicott Dr Baltimore, MD	2.0	1.0	900	$1,450	$1.61	45d	1	0.86mi
2636 Pennsylvania Ave Baltimore, MD	1.0–2.0	1.0	846	$956	$1.13	25d	4	0.87mi

Listing history 15 events

1. 2026-06-21
   days on market $50,000 Active 44 DOM
2. 2026-06-18
   days on market $50,000 Active 41 DOM
3. 2026-06-17
   days on market $50,000 Active 40 DOM
4. 2026-06-16
   days on market $50,000 Active 39 DOM
5. 2026-06-15
   days on market $50,000 Active 38 DOM
6. 2026-06-13
   days on market $50,000 Active 36 DOM
7. 2026-06-09
   days on market $50,000 Active 32 DOM
8. 2026-06-08
   days on market $50,000 Active 31 DOM
9. 2026-06-07
   days on market $50,000 Active 30 DOM
10. 2026-06-04
    days on market $50,000 Active 27 DOM
11. 2026-06-03
    days on market $50,000 Active 26 DOM
12. 2026-06-02
    days on market $50,000 Active 25 DOM
13. 2026-06-01
    days on market $50,000 Active 24 DOM
14. 2026-05-31
    days on market $50,000 Active 23 DOM
15. 2026-05-08
    listed $50,000 Active 228-char remark

ⓘ 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: $775 · $65/mo
• Projected year-2 tax: $775 · $65/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 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $18,577
• − Mortgage interest: −$2,801
• − Property taxes: −$775
• − Insurance: −$250
• − Repairs & maintenance: −$1,486
• − Management: −$1,486
• − Depreciation: −$1,455
• Taxable income: $10,324
• Est. tax owed @ 24.0%: −$2,478
• After-tax cash flow: $8,026/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): 29,426
• Household income: $42,031
• Rent vs Own: 49.8% rent · 50.2% own
• Severe rent burden: 2264.0

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 (91%)
• Race & ethnicity: Black 91% Hispanic / Latino 4% Two or more races 3% White 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3% French/Haitian/Cajun 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: ▼ -107.42%
• Current HPI: 164.3933
• Rent YoY: ▲ 6.10%
• 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

• 2026-05-08 Listed $50,000 BRIGHT MLS

Property tax history

-3.3%/yr

Latest (2025): $775 · +5.4% YoY. Source: county tax records.