2512 E Chase St · Baltimore, MD 21213

$145,000

3 bd · 1.0 ba · 1,350 sqft · Townhouse · 17 Days on market

Built 1905 1,022 sqft lot Est $207k · 30% under ↓ 6% since listing

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• 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

ONLINE REAL ESTATE AUCTION!! Bidding Opens - Tuesday, February 21, 2023. Bidding Closes - Thursday, February 23, 2023 at 11:00 AM. List price is opening bid only. 2512 E. Chase Street is located in the Biddle Street neighborhood in East Baltimore City. Surrounding neighborhoods include Berea, Madison -Eastend and McElderry Park. The home is located off of N. Milton Avenue, a north/south thoroughfare of East Baltimore, and a block south of E. Biddle Street, an east/west thoroughfare. Residents are within walking distance to many shops, food and entertainment options – all located within a half mile. Several large projects and development initiatives are also within a half mile of the home. The East Baltimore Development Initiative (EBDI) and large projects such as the redevelopment of the A. Hoen & Co. Lithograph building are prominent drivers in the revitalization and rebuilding of East Baltimore. Various bus routes and a metro line are all within a 15 minute walk. Major employers in the area include Johns Hopkins Hospital, Mid-Atlantic Baking Company and Ferguson Plumbing Supply.

Key facts

• Built 1905
• Listed 17 days

Property features AI

Finance

• Other: Fee simple ownership; Property manager present; About 1,250 sq ft finished above grade and 100 sq ft finished below grade (estimated)

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; 100 amp electric service; Electric available; Natural gas available; Cable TV available; Phone available; Natural gas hot water
• Home design: Interior townhouse/rowhouse; Two levels; Main entrance faces east; Entry level is 1
• Construction: Brick construction; Flat roof; Vinyl-clad windows; Other foundation; Year built per assessor; major renovation 2023
• Exterior features: Porch(es); Not in a federal flood zone; In city limits

Interior

• Kitchen: Refrigerator; Stove
• Bedrooms: Two bedrooms on the first upper level; One bedroom on the first lower level
• Flooring: Concrete; Carpet; Laminate
• Bathrooms: One full bathroom (upper level)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Traditional floor plan; Efficiency kitchen; Drywall walls and ceilings; Partially finished basement (about 40% finished)
• Laundry & utility: Washer in unit; Dryer in unit

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $145k.

Deal economics

• At list price, monthly cash flow is $555 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $143k (1.5% below list) — sets the bar for market timing.

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); Baltimore Polytechnic Institute (math 71% / reading 84%, grade A-, #22 of 222 statewide, top 10%, 1,555 students, 43% FRL) — zoned schools average 63% FRL vs 79% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 40% at this address vs 12% district-wide (+29 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); 320 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).

Forward outlook

• In year one you build about $178 of equity ($1k loan paydown + $-824 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 $41k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 6y 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.
• Current owner paid $69k; list at $145k implies a 109% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — 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 $142,825 (1.5% below list)

Questions for the listing agent

1. Built in 1905 — 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. 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.
6. 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.
7. 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: 1.29% ✓
• Cap rate: 10.89%
• Cash-on-cash: 16.42%
• DSCR: 1.73
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $206,550
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1418 N Linwood Ave	0.37mi	3/1.0	1,356 (+0%)	0mo	$90,000	$66	82
1411 Kenhill Ave	0.34mi	4/2.0 (+1)	1,356 (+0%)	1mo	$240,000	$177	74
2220 Henneman Ave	0.24mi	3/2.5	1,440 (+7%)	1mo	$190,000	$132	71
220 N Luzerne Ave	0.60mi	3/1.0	1,372 (+2%)	1mo	$120,000	$87	69
2435 Jefferson St	0.51mi	3/1.0	1,260 (-7%)	1mo	$140,000	$111	65
1009 N Washington St N	0.43mi	2/2.5 (-1)	1,386 (+3%)	0mo	$235,000	$170	64
2712 Ashland Ave	0.23mi	3/1.5	1,164 (-14%)	1mo	$175,000	$150	63
145 N Milton Ave	0.68mi	2/2.0 (-1)	1,353 (+0%)	1mo	$260,000	$192	58
410 N Chester St	0.64mi	2/1.5 (-1)	1,260 (-7%)	1mo	$180,000	$143	52
410 N Patterson Park Ave	0.59mi	3/1.0	1,180 (-13%)	0mo	$180,000	$153	51
3135 Mcelderry St	0.65mi	3/2.0	1,224 (-9%)	1mo	$234,000	$191	49
134 N Curley St	0.75mi	2/2.0 (-1)	1,170 (-13%)	1mo	$270,000	$231	33

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: 16.4%
• Equity multiple: 1.78×
• Total profit: $31,602
• Equity at exit: $38,032

10-year hold

• IRR: 23.0%
• Equity multiple: 3.62×
• Total profit: $106,346
• Equity at exit: $42,582

Cash invested: $40,600 (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 21213

• Home prices YoY: -0.1%
• Rents YoY: 5.2%
• Active inventory: 320
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,866 high
• Mortgage (P&I): −$760
• Tax from tax record: −$98 /mo · $1,177/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $555

Break-even live

Break-even rent $1,163

Max offer price $145,000

Occupancy floor 65%

Sensitivity live

Price	-10% $637	-5% $596	+0% $555	+5% $514	+10% $473
Rent	-10% $408	-5% $482	+0% $555	+5% $629	+10% $703
Rate	-1.0pp $628	-0.5pp $592	base $555	+0.5pp $518	+1.0pp $480

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2430 E Biddle St Baltimore, MD	2.0	2.0	1300	$2,000	$1.54	46d	1	0.09mi
2706 E Biddle St Baltimore, MD	3.0	2.0	1577	$1,395	$0.88	46d	1	0.15mi
2626 E Preston St Baltimore, MD	3.0	1.0	1136	$1,800	$1.58	46d	1	0.17mi
2215 E Biddle St Baltimore, MD	2.0	2.5	1350	$1,800	$1.33	46d	1	0.24mi
2202 Prentiss Pl Baltimore, MD	3.0	2.0	1400	$2,400	$1.71	46d	1	0.26mi
1323 N Kenwood Ave Unit 1 Baltimore, MD	2.0	1.5	1060	$1,350	$1.27	26d	1	0.27mi
2729 Ashland Ave Baltimore, MD	3.0	1.0	1000	$1,350	$1.35	5d	1	0.28mi
2621 E Oliver St Baltimore, MD	3.0	2.0	1600	$1,700	$1.06	26d	1	0.28mi
720 N Port St Baltimore, MD	2.0	1.0	950	$1,300	$1.37	46d	1	0.32mi
821 N Collington Ave Baltimore, MD	3.0	2.0	1150	$1,950	$1.70	46d	1	0.36mi
2522 E Federal St Baltimore, MD	2.0	2.0	1760	$1,400	$0.80	46d	1	0.36mi
2815 E Madison St Baltimore, MD	4.0	2.0	1300	$2,500	$1.92	46d	1	0.37mi
1403 N Linwood Ave Baltimore, MD	3.0	2.0	1660	$1,995	$1.20	46d	1	0.37mi
809 N Curley St Baltimore, MD	3.0	1.0	1746	$1,400	$0.80	24d	1	0.40mi
618 N Montford Ave Baltimore, MD	3.0	1.0	1050	$1,468	$1.40	17d	1	0.40mi
618 N Montford Ave Baltimore, MD	3.0	1.0	1050	$1,468	$1.40	46d	1	0.40mi
627 N Lakewood Ave Baltimore, MD	3.0	2.5	1175	$1,850	$1.57	0d	1	0.41mi
2212 E Monument St Unit 2 Baltimore, MD	2.0	1.0	1200	$1,550	$1.29	20d	1	0.42mi
2608 McElderry St Baltimore, MD	3.0	1.0	1144	$1,525	$1.33	0d	1	0.42mi
724 N Curley St Baltimore, MD	3.0	3.0	1500	$2,200	$1.47	6d	1	0.43mi
718 N Curley St Baltimore, MD	3.0	3.0	1500	$2,000	$1.33	6d	1	0.43mi
712 N Duncan St Baltimore, MD	2.0	1.5	1000	$2,000	$2.00	46d	1	0.44mi
1215 N Ellwood Ave Baltimore, MD	3.0	1.0	1128	$1,795	$1.59	26d	1	0.44mi
2431 McElderry St Baltimore, MD	4.0	2.5	1600	$2,100	$1.31	46d	1	0.45mi
539 N Luzerne Ave Baltimore, MD	3.0	2.5	1702	$2,300	$1.35	46d	1	0.45mi
1310 N Ellwood Ave Baltimore, MD	2.0	1.0	1000	$1,450	$1.45	15d	1	0.46mi
1310 N Ellwood Ave #1 Baltimore, MD	2.0	1.0	1000	$1,550	$1.55	24d	1	0.46mi
537 N Lakewood Ave Baltimore, MD	3.0	3.5	1755	$2,050	$1.17	46d	1	0.46mi
533 N Lakewood Ave Baltimore, MD	4.0	3.5	1758	$4,500	$2.56	46d	1	0.47mi
531 N Belnord Ave Baltimore, MD	2.0	1.5	1100	$1,700	$1.55	26d	1	0.47mi
2934 E Monument St Baltimore, MD	2.0	1.0	1200	$1,499	$1.25	46d	1	0.48mi
1923 Ashland Ave Baltimore, MD	2.0	2.0	862	$1,770	$2.05	22d	2	0.49mi
2311 E Lafayette Ave Baltimore, MD	3.0	1.0	1000	$1,400	$1.40	46d	1	0.50mi
2308 Jefferson St Baltimore, MD	3.0	1.0	907	$1,450	$1.60	46d	1	0.51mi
437 N Montford Ave Baltimore, MD	3.0	1.5	1100	$1,450	$1.32	46d	1	0.54mi
425 N Milton Ave Baltimore, MD	3.0	1.0	1200	$1,525	$1.27	17d	1	0.54mi
420 N Montford Ave Baltimore, MD	3.0	1.0	1350	$1,450	$1.07	46d	1	0.54mi
415 N Glover St Baltimore, MD	2.0	2.5	1092	$1,600	$1.47	26d	1	0.54mi
415 N Belnord Ave Baltimore, MD	2.0	1.0	1008	$1,300	$1.29	26d	1	0.56mi
402 N Milton Ave Unit 402B Baltimore, MD	2.0	1.0	950	$1,290	$1.36	46d	1	0.57mi

Listing history 11 events

1. 2026-06-22
   days on market $145,000 Active 17 DOM
2. 2026-06-21
   days on market $145,000 Active 16 DOM
3. 2026-06-18
   days on market $145,000 Active 13 DOM
4. 2026-06-17
   days on market $145,000 Active 12 DOM
5. 2026-06-16
   days on market $145,000 Active 11 DOM
6. 2026-06-15
   days on market $145,000 Active 10 DOM
7. 2026-06-13
   days on market $145,000 Active 8 DOM
8. 2026-06-09
   days on market $145,000 Active 4 DOM
9. 2026-06-08
   days on market $145,000 Active 3 DOM
10. 2026-06-07
    remarks 693-char remark
11. 2026-06-07
    listed $145,000 Active 2 DOM

ⓘ 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: $1,177 · $98/mo
• Projected year-2 tax: $1,379 · $115/mo
• Expected delta: +$202/yr (+$17/mo · 17.2%)

ⓘ 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 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: $22,394
• − Mortgage interest: −$8,122
• − Property taxes: −$1,177
• − Insurance: −$725
• − Repairs & maintenance: −$1,792
• − Management: −$1,792
• − Depreciation: −$4,218
• Taxable income: $4,569
• Est. tax owed @ 24.0%: −$1,097
• After-tax cash flow: $5,568/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

-6.2% since first listed

21 events — show timeline

• 2026-06-05 Listed $145,000 BRIGHT MLS
• 2025-10-28 Listing Removed — BRIGHT MLS
• 2025-10-09 Relisted — BRIGHT MLS
• 2025-10-07 Listing Removed — BRIGHT MLS
• 2025-09-26 Listed $125,000 BRIGHT MLS
• 2023-11-02 Rental Removed $1,500 RENTEC
• 2023-10-30 Listed for Rent $1,500 RENTEC
• 2023-10-28 Rental Removed $1,500 BRIGHTMLS
• 2023-10-05 Price Changed $1,500 BRIGHTMLS
• 2023-09-08 Listed for Rent $1,550 BRIGHTMLS
• 2023-09-08 Rental Removed $1,600 RENTEC
• 2023-07-19 Listed for Rent $1,600 RENTEC
• 2023-06-07 Sold (Public Records) $69,300 Public Records
• 2023-04-22 Sold (MLS) $69,300 BRIGHT MLS
• 2023-02-22 Pending — BRIGHT MLS
• 2023-02-06 Listed $35,000 BRIGHT MLS
• 2021-05-26 Sold (Public Records) $54,000 Public Records
• 2021-03-11 Sold (MLS) $54,000 BRIGHT MLS
• 2021-01-26 Pending — BRIGHT MLS
• 2020-12-23 Listed $20,000 BRIGHT MLS
• 1984-05-28 Sold (Public Records) $154,642 Public Records

Property tax history

+8.4%/yr

Latest (2025): $1,177 · +15.4% YoY. Source: county tax records.