1203 N Curley St · Baltimore, MD 21213

$65,000

3 bd · 1.0 ba · 1,090 sqft · Townhouse public records · 331 Days on market

Built 1927 1,306 sqft lot $60/sqft · 27% below area Est $89k · 27% under

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +4.7/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0

Listing remarks MLS

POST AUCTION/BUY NOW: MAKE AN OFFER! Deposit: $5,000 This two-story townhouse is located in the Berea neighborhood of Baltimore City. Residents can enjoy the nearby facilities and attractions such as the John Hopkins Hospital, Northeast Market, and Patterson Park. This property is vacant. The area provides easy access to a major traffic artery, Edison Hwy, connecting to other parts of the city.

Key facts

• Built 1927
• Listed 331 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $65k.

Deal economics

• At list price, monthly cash flow is $842 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• Cap rate 21.8% 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: Fort Worthington Elementary/Middle (math 0% / reading 5%, grade F, #824 of 860 statewide, top 96%, 693 students, 83% FRL); Vanguard Collegiate Middle (math 3% / reading 15%, grade F, #212 of 225 statewide, top 95%, 343 students, 84% FRL); Baltimore Polytechnic Institute (math 71% / reading 84%, grade A-, #22 of 222 statewide, top 10%, 1,555 students, 43% FRL).
• Zoned-school proficiency averages 30% at this address vs 12% district-wide (+18 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 (+5.2%/yr); 319 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); 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).

Forward outlook

• In year one you build about $80 of equity ($449 loan paydown + $-369 appreciation (-0.6% local appreciation)).
• Baltimore County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-0.6% appreciation + 5.2% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 331 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $26k; list at $65k implies a 146% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price; built in 1927 — 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 $57,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 331 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 1927 — 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: 2.73% ✓
• Cap rate: 21.83%
• Cash-on-cash: 55.50%
• DSCR: 3.47
• GRM: 3.0

CMA / ARV

• ARV (median comp): $89,173
• List price: $65,000
• Delta: -27.11%
• 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
2736 Mura St	0.14mi	3/2.0	1,120 (+3%)	0mo	$81,000	$72	84
2811 E Biddle St	0.10mi	2/1.0 (-1)	1,148 (+5%)	2mo	$75,000	$65	80
2712 Ashland Ave	0.32mi	3/1.5	1,164 (+7%)	1mo	$175,000	$150	71
629 N Kenwood Ave	0.46mi	2/1.5 (-1)	1,100 (+1%)	1mo	$76,500	$70	69
2615 E Chase St	0.26mi	3/1.5	952 (-13%)	2mo	$149,000	$157	63
735 N Lakewood Ave	0.41mi	3/1.5	970 (-11%)	2mo	$80,000	$82	59
2703 Jefferson St	0.60mi	3/1.0	1,170 (+7%)	2mo	$102,500	$88	58
415 N Glover St	0.64mi	2/2.5 (-1)	1,092 (+0%)	2mo	$179,000	$164	57
530 N Curley St	0.52mi	3/1.0	960 (-12%)	2mo	$85,000	$89	54
3238 Ravenwood Ave	0.71mi	3/1.5	1,158 (+6%)	1mo	$70,000	$60	54
441 N East Ave	0.61mi	3/1.5	976 (-10%)	2mo	$175,000	$179	51
3135 Mcelderry St	0.54mi	3/2.0	1,224 (+12%)	1mo	$234,000	$191	49

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.57% appreciation · 5.25% rent growth · sell at horizon

5-year hold

• IRR: 59.1%
• Equity multiple: 3.98×
• Total profit: $54,207
• Equity at exit: $17,049

10-year hold

• IRR: 62.8%
• Equity multiple: 8.74×
• Total profit: $140,949
• Equity at exit: $19,088

Cash invested: $18,200 (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 21213

• Home prices YoY: -0.1%
• Rents YoY: 5.2%
• Active inventory: 319
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,778 high
• Mortgage (P&I): −$341
• Tax from tax record: −$195 /mo · $2,335/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $842

Break-even live

Break-even rent $712

Max offer price $65,000

Occupancy floor 48%

Sensitivity live

Price	-10% $879	-5% $860	+0% $842	+5% $823	+10% $805
Rent	-10% $701	-5% $772	+0% $842	+5% $912	+10% $982
Rate	-1.0pp $875	-0.5pp $858	base $842	+0.5pp $825	+1.0pp $808

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1215 N Ellwood Ave Baltimore, MD	3.0	1.0	1128	$1,795	$1.59	25d	1	0.11mi
1310 N Ellwood Ave Baltimore, MD	2.0	1.0	1000	$1,450	$1.45	14d	1	0.15mi
1310 N Ellwood Ave #1 Baltimore, MD	2.0	1.0	1000	$1,550	$1.55	23d	1	0.15mi
1323 N Kenwood Ave Unit 1 Baltimore, MD	2.0	1.5	1060	$1,350	$1.27	25d	1	0.17mi
2626 E Preston St Baltimore, MD	3.0	1.0	1136	$1,800	$1.58	45d	1	0.24mi
2729 Ashland Ave Baltimore, MD	3.0	1.0	1000	$1,350	$1.35	4d	1	0.31mi
724 N Curley St Baltimore, MD	3.0	3.0	1500	$2,200	$1.47	6d	1	0.36mi
2815 E Madison St Baltimore, MD	4.0	2.0	1300	$2,500	$1.92	45d	1	0.36mi
718 N Curley St Baltimore, MD	3.0	3.0	1500	$2,000	$1.33	6d	1	0.36mi
2430 E Biddle St Baltimore, MD	2.0	2.0	1300	$2,000	$1.54	45d	1	0.38mi
2934 E Monument St Baltimore, MD	2.0	1.0	1200	$1,499	$1.25	45d	1	0.40mi
627 N Lakewood Ave Baltimore, MD	3.0	2.5	1175	$1,850	$1.57	0d	1	0.49mi
2410 E Federal St Baltimore, MD	4.0	2.0	720	$2,200	$3.06	25d	1	0.51mi
531 N Belnord Ave Baltimore, MD	2.0	1.5	1100	$1,700	$1.55	25d	1	0.52mi
520 N Decker Ave Baltimore, MD	2.0	1.0	1000	$1,650	$1.65	45d	1	0.52mi
3304 McElderry St Baltimore, MD	3.0	2.0	1413	$1,900	$1.34	45d	1	0.53mi
2608 McElderry St Baltimore, MD	3.0	1.0	1144	$1,525	$1.33	0d	1	0.54mi
720 N Port St Baltimore, MD	2.0	1.0	950	$1,300	$1.37	45d	1	0.54mi
2215 E Biddle St Baltimore, MD	2.0	2.5	1350	$1,800	$1.33	45d	1	0.57mi
502 N Glover St Baltimore, MD	2.0	1.5	827	$1,250	$1.51	22d	1	0.59mi
2202 Prentiss Pl Baltimore, MD	3.0	2.0	1400	$2,400	$1.71	45d	1	0.59mi
517 N Rose St Baltimore, MD	3.0	1.0	845	$1,400	$1.66	6d	1	0.60mi
415 N Belnord Ave Baltimore, MD	2.0	1.0	1008	$1,300	$1.29	25d	1	0.61mi
618 N Montford Ave Baltimore, MD	3.0	1.0	1050	$1,468	$1.40	45d	1	0.63mi
618 N Montford Ave Baltimore, MD	3.0	1.0	1050	$1,468	$1.40	16d	1	0.63mi
2800 Orleans St Baltimore, MD	3.0	1.0	1404	$1,600	$1.14	16d	1	0.63mi
2800 Orleans St Baltimore, MD	3.0	1.0	1404	$1,600	$1.14	19d	1	0.63mi
404 N Robinson St Baltimore, MD	3.0	3.0	1320	$2,200	$1.67	25d	1	0.63mi
404 N Robinson St Baltimore, MD	3.0	3.0	1320	$2,100	$1.59	18d	1	0.63mi
2311 E Lafayette Ave Baltimore, MD	3.0	1.0	1000	$1,400	$1.40	45d	1	0.63mi
415 N Glover St Baltimore, MD	2.0	2.5	1092	$1,600	$1.47	25d	1	0.63mi
2815 Orleans St Baltimore, MD	2.0	1.0	1204	$1,600	$1.33	3d	1	0.64mi
821 N Collington Ave Baltimore, MD	3.0	2.0	1150	$1,950	$1.70	45d	1	0.65mi
425 N Milton Ave Baltimore, MD	3.0	1.0	1200	$1,525	$1.27	16d	1	0.69mi
2212 E Monument St Unit 2 Baltimore, MD	2.0	1.0	1200	$1,550	$1.29	19d	1	0.69mi
3343 Ravenwood Ave Unit 3343 Baltimore, MD	2.0	2.0	948	$1,855	$1.96	19d	1	0.70mi
203 N Ellwood Ave Unit Main Baltimore, MD	2.0	2.0	880	$2,200	$2.50	25d	1	0.71mi
218 N Glover St Baltimore, MD	2.0	2.0	1360	$1,750	$1.29	45d	1	0.71mi
437 N Montford Ave Baltimore, MD	3.0	1.5	1100	$1,450	$1.32	45d	1	0.72mi
402 N Milton Ave Unit 402B Baltimore, MD	2.0	1.0	950	$1,290	$1.36	45d	1	0.72mi

Listing history 20 events

1. 2026-06-21
   days on market $65,000 Active 331 DOM
2. 2026-06-18
   days on market $65,000 Active 328 DOM
3. 2026-06-17
   days on market $65,000 Active 327 DOM
4. 2026-06-16
   days on market $65,000 Active 326 DOM
5. 2026-06-15
   days on market $65,000 Active 325 DOM
6. 2026-06-13
   days on market $65,000 Active 323 DOM
7. 2026-06-09
   days on market $65,000 Active 319 DOM
8. 2026-06-08
   days on market $65,000 Active 318 DOM
9. 2026-06-07
   days on market $65,000 Active 317 DOM
10. 2026-06-04
    days on market $65,000 Active 314 DOM
11. 2026-06-03
    days on market $65,000 Active 313 DOM
12. 2026-06-02
    days on market $65,000 Active 312 DOM
13. 2026-06-01
    days on market $65,000 Active 311 DOM
14. 2026-05-31
    days on market $65,000 Active 310 DOM
15. 2026-03-30
    price $65,000 397-char remark

    Show marketing remark (397 chars)

    POST AUCTION/BUY NOW: MAKE AN OFFER! Deposit: $5,000 This two-story townhouse is located in the Berea neighborhood of Baltimore City. Residents can enjoy the nearby facilities and attractions such as the John Hopkins Hospital, Northeast Market, and Patterson Park. This property is vacant. The area provides easy access to a major traffic artery, Edison Hwy, connecting to other parts of the city.

16. 2026-01-09
    price $35,000 397-char remark

    Show marketing remark (397 chars)

    POST AUCTION/BUY NOW: MAKE AN OFFER! Deposit: $5,000 This two-story townhouse is located in the Berea neighborhood of Baltimore City. Residents can enjoy the nearby facilities and attractions such as the John Hopkins Hospital, Northeast Market, and Patterson Park. This property is vacant. The area provides easy access to a major traffic artery, Edison Hwy, connecting to other parts of the city.

17. 2025-11-24
    price $90,000 397-char remark

    Show marketing remark (397 chars)

    POST AUCTION/BUY NOW: MAKE AN OFFER! Deposit: $5,000 This two-story townhouse is located in the Berea neighborhood of Baltimore City. Residents can enjoy the nearby facilities and attractions such as the John Hopkins Hospital, Northeast Market, and Patterson Park. This property is vacant. The area provides easy access to a major traffic artery, Edison Hwy, connecting to other parts of the city.

18. 2025-08-07
    price $45,000 397-char remark

    Show marketing remark (397 chars)

    POST AUCTION/BUY NOW: MAKE AN OFFER! Deposit: $5,000 This two-story townhouse is located in the Berea neighborhood of Baltimore City. Residents can enjoy the nearby facilities and attractions such as the John Hopkins Hospital, Northeast Market, and Patterson Park. This property is vacant. The area provides easy access to a major traffic artery, Edison Hwy, connecting to other parts of the city.

19. 2025-07-25
    listed $75,000 Active 397-char remark

    Show marketing remark (397 chars)

    POST AUCTION/BUY NOW: MAKE AN OFFER! Deposit: $5,000 This two-story townhouse is located in the Berea neighborhood of Baltimore City. Residents can enjoy the nearby facilities and attractions such as the John Hopkins Hospital, Northeast Market, and Patterson Park. This property is vacant. The area provides easy access to a major traffic artery, Edison Hwy, connecting to other parts of the city.

20. 1990-06-15
    soldstatus $26,400

ⓘ 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: $2,335 · $195/mo
• Projected year-2 tax: $2,335 · $195/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 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: $21,331
• − Mortgage interest: −$3,641
• − Property taxes: −$2,335
• − Insurance: −$325
• − Repairs & maintenance: −$1,706
• − Management: −$1,706
• − Depreciation: −$1,891
• Taxable income: $9,726
• Est. tax owed @ 24.0%: −$2,334
• After-tax cash flow: $7,767/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): 28,058
• Household income: $51,344
• Rent vs Own: 48.0% rent · 52.0% own
• Severe rent burden: 1868.0

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 (86%)
• Race & ethnicity: Black 86% White 6% Hispanic / Latino 4% Two or more races 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -0.57%
• Current HPI: 427.4453
• Rent YoY: ▲ 5.25%
• 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

+146.2% since first listed

6 events — show timeline

• 2026-03-30 Price Changed $65,000 BRIGHT MLS
• 2026-01-09 Price Changed $35,000 BRIGHT MLS
• 2025-11-24 Price Changed $90,000 BRIGHT MLS
• 2025-08-07 Price Changed $45,000 BRIGHT MLS
• 2025-07-25 Listed $75,000 BRIGHT MLS
• 1990-06-15 Sold (Public Records) $26,400 Public Records

Property tax history

+3.5%/yr

Latest (2025): $2,335 · +14.3% YoY. Source: county tax records.