1421 E Preston St · Baltimore, MD 21213

$35,000

2 bd · 1.0 ba · 1,200 sqft · Townhouse · 36 Days on market

Built 1900 665 sqft lot ↓ 10% since listing

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Key facts

• Built 1900
• Listed 35 days

Property features AI

Finance

• Other: Annual ground rent listed in income/expense
• Financial info: Ground rent $1 paid semi-annually; Property in need of major rehabilitation; Land assessed separately from improvements

Exterior

• Parking: Off-site parking
• Utilities: Public water; Public sewer
• Home design: Interior townhouse/rowhouse; Building not winterized
• Construction: Other foundation; Other above- and below-grade structures; Year built per assessor
• Exterior features: Not in a federal flood zone; Ground rent exists (semi-annual payment)

Interior

• Bedrooms: One bedroom on the first upper level; One bedroom on the second upper level
• Bathrooms: One full bathroom (total)
• Interior features: Estimated living area; Unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $35k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $35k).
• Recommended offer: $34k (3.0% below list) — sets the bar for market timing.
• Cap rate 42.9% 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 (+5.2%/yr); 319 active listings in the ZIP; 40 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 40% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $43 of equity ($242 loan paydown + $-199 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 $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 19y 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.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1900 — 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 $33,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 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 1900 — 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. 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. 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?
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: 4.85% ✓
• Cap rate: 42.92%
• Cash-on-cash: 130.82%
• DSCR: 6.82
• GRM: 1.7

CMA / ARV

• ARV (on-the-fly): $128,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1753 E Preston St	0.32mi	2/2.0	1,200 (0%)	3mo	$225,000	$188	78
1543 Holbrook St	0.30mi	3/2.0 (+1)	1,200 (0%)	2mo	$110,000	$92	75
1110 N Central Ave	0.13mi	3/2.0 (+1)	1,260 (+5%)	2mo	$135,000	$107	75
1722 E Lanvale St	0.43mi	3/1.0 (+1)	1,200 (0%)	0mo	$125,000	$104	74
1104 Harford Ave	0.23mi	3/1.5 (+1)	1,152 (-4%)	1mo	$100,000	$87	74
1619 E Federal St E	0.28mi	3/2.5 (+1)	1,216 (+1%)	4mo	$75,000	$62	71
814 Showell Ct	0.35mi	3/1.0 (+1)	1,152 (-4%)	5mo	$180,500	$157	68
1234 E Lafayette Ave E	0.40mi	3/2.5 (+1)	1,225 (+2%)	2mo	$219,000	$179	65
1822 Aiken St	0.43mi	3/1.0 (+1)	1,050 (-12%)	3mo	$49,000	$47	52
1652 Darley Ave	0.71mi	3/1.0 (+1)	1,100 (-8%)	0mo	$52,500	$48	48
2030 E Lafayette Ave	0.66mi	2/2.5	1,100 (-8%)	5mo	$182,000	$165	45
2241 E Biddle St	0.70mi	2/2.5	1,300 (+8%)	5mo	$239,900	$185	43

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: —
• Equity multiple: 8.15×
• Total profit: $70,070
• Equity at exit: $9,180

10-year hold

• IRR: —
• Equity multiple: 18.27×
• Total profit: $169,271
• Equity at exit: $10,278

Cash invested: $9,800 (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: 1.7×

Monthly cashflow live

• Estimated rent: $1,697 high
• Mortgage (P&I): −$184
• Tax from tax record: −$74 /mo · $893/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$356
• Net cashflow: $1,068

Break-even live

Break-even rent $345

Max offer price $35,000

Occupancy floor 32%

Sensitivity live

Price	-10% $1,088	-5% $1,078	+0% $1,068	+5% $1,058	+10% $1,049
Rent	-10% $934	-5% $1,001	+0% $1,068	+5% $1,135	+10% $1,202
Rate	-1.0pp $1,086	-0.5pp $1,077	base $1,068	+0.5pp $1,059	+1.0pp $1,050

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1222 N Spring St Baltimore, MD	1.0	1.0	900	$1,600	$1.78	44d	1	0.01mi
1607 Hakesley Pl Baltimore, MD	3.0	1.0	720	$1,400	$1.94	44d	1	0.16mi
1027 N Central Ave Baltimore, MD	3.0	1.0	1200	$1,600	$1.33	22d	1	0.18mi
1010 N Central Ave Baltimore, MD	2.0	1.0	1023	$1,650	$1.61	24d	1	0.21mi
931 N Central Ave Baltimore, MD	3.0	1.0	1085	$1,400	$1.29	24d	1	0.27mi
1243 E Lanvale St Baltimore, MD	3.0	1.5	1281	$1,750	$1.37	17d	1	0.31mi
1243 E Lanvale St Baltimore, MD	3.0	1.5	1281	$1,750	$1.37	3d	1	0.31mi
1232 Ashland Ave Baltimore, MD	3.0	1.0	1200	$1,600	$1.33	22d	1	0.33mi
814 Showell Ct Baltimore, MD	3.0	1.0	1152	$2,000	$1.74	22d	1	0.35mi
1205 Ashland Ave Baltimore, MD	3.0	1.0	992	$1,550	$1.56	24d	1	0.36mi
1226 E Madison St Baltimore, MD	3.0	1.0	1100	$2,179	$1.98	5d	1	0.40mi
1512 E Lafayette Ave Baltimore, MD	3.0	2.5	1476	$1,950	$1.32	44d	1	0.40mi
1514 E Lafayette Ave Baltimore, MD	3.0	1.5	1215	$2,000	$1.65	24d	1	0.40mi
1009 Hillman St Baltimore, MD	3.0	1.0	1200	$1,650	$1.38	21d	1	0.41mi
1307 E Madison St Baltimore, MD	2.0	1.0	1200	$1,650	$1.38	44d	1	0.41mi
1803 N Dallas St Baltimore, MD	2.0	2.5	1250	$2,100	$1.68	24d	1	0.42mi
821 E Eager St Unit 21-3F Baltimore, MD	1.0	1.0	700	$999	$1.43	5d	1	0.43mi
802 N Broadway Unit B Baltimore, MD	1.0	1.0	910	$1,800	$1.98	44d	1	0.44mi
802 N Broadway #1 Baltimore, MD	2.0	1.0	1120	$1,800	$1.61	18d	1	0.44mi
1627 Rutland Ave Baltimore, MD	3.0	2.0	1100	$1,950	$1.77	24d	1	0.46mi
1627 Rutland Ave Unit 1 Baltimore, MD	3.0	2.0	1200	$2,350	$1.96	44d	1	0.46mi
1418 E Monument St Baltimore, MD	2.0–4.0	1.0–2.0	1265	$1,283	$1.01	15d	5	0.47mi
1100 Greenmount Ave Baltimore, MD	1.0–3.0	1.0–2.0	839	$1,954	$2.33	3d	1	0.51mi
1923 Ashland Ave Unit 401 Baltimore, MD	2.0	2.0	850	$1,795	$2.11	21d	1	0.58mi
1923 Ashland Ave Baltimore, MD	2.0	2.0	862	$1,770	$2.05	20d	2	0.58mi
458 E Federal St Baltimore, MD	2.0	2.5	1300	$1,850	$1.42	5d	1	0.59mi
1756 E North Ave Baltimore, MD	1.0	1.0	800	$1,000	$1.25	44d	1	0.59mi
456 E Federal St Baltimore, MD	2.0	2.0	1450	$1,850	$1.28	44d	1	0.59mi
420 Aisquith St Baltimore, MD	1.0	1.0	721	$1,226	$1.70	44d	1	0.61mi
448 Pitman Pl Baltimore, MD	2.0	1.5	940	$2,145	$2.28	24d	1	0.61mi
1600 N Chester St Baltimore, MD	1.0	1.0	715	$636	$0.89	24d	1	0.62mi
412 E Federal St Baltimore, MD	2.0	2.5	1100	$1,700	$1.55	24d	1	0.64mi
2215 E Biddle St Baltimore, MD	2.0	2.5	1350	$1,800	$1.33	44d	1	0.67mi
2202 Prentiss Pl Baltimore, MD	3.0	2.0	1400	$2,400	$1.71	44d	1	0.67mi
218 E Preston St Baltimore, MD	2.0	1.0	1250	$1,724	$1.38	44d	1	0.71mi
1118 Guilford Ave Unit 2 Baltimore, MD	1.0	1.0	803	$1,075	$1.34	5d	1	0.71mi
1602 Latrobe St Baltimore, MD	1.0	1.0	845	$1,790	$2.12	44d	1	0.71mi
2000 E North Ave Baltimore, MD	1.0	1.0	639	$836	$1.31	5d	4	0.71mi
1607 Cliftview Ave Baltimore, MD	3.0	1.0	1200	$1,475	$1.23	44d	1	0.72mi
1312 Guilford Ave Baltimore, MD	1.0–2.0	1.0–2.0	1040	$1,850	$1.78	44d	6	0.72mi

Listing history 31 events

1. 2026-06-21
   days on market $35,000 Active 36 DOM
2. 2026-06-18
   days on market $35,000 Active 33 DOM
3. 2026-06-17
   days on market $35,000 Active 32 DOM
4. 2026-06-16
   days on market $35,000 Active 31 DOM
5. 2026-06-15
   days on market $35,000 Active 30 DOM
6. 2026-06-13
   days on market $35,000 Active 28 DOM
7. 2026-06-09
   days on market $35,000 Active 24 DOM
8. 2026-06-08
   days on market $35,000 Active 23 DOM
9. 2026-06-07
   days on market $35,000 Active 22 DOM
10. 2026-06-04
    days on market $35,000 Active 19 DOM
11. 2026-06-03
    days on market $35,000 Active 18 DOM
12. 2026-06-02
    days on market $35,000 Active 17 DOM
13. 2026-06-01
    days on market $35,000 Active 16 DOM
14. 2026-05-31
    days on market $35,000 Active 15 DOM
15. 2026-05-16
    listed $35,000 Active
16. 2025-01-09
    status Pending
17. 2025-01-08
    historical
18. 2024-12-11
    listed $40,000 Active
19. 2010-08-31
    historical Expired
20. 2010-08-31
    historical
21. 2010-08-04
    historical Expired
22. 2010-08-04
    historical
23. 2010-08-02
    price Active
24. 2010-08-02
    status Active
25. 2010-07-31
    historical Expired
26. 2010-07-14
    listed Active
27. 2010-07-14
    listed $20,000
28. 2010-05-19
    listed Active
29. 2010-05-19
    listed $39,000
30. 2007-05-30
    historical
31. 2007-03-12
    listed

ⓘ 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: $893 · $74/mo
• Projected year-2 tax: $893 · $74/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 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,368
• − Mortgage interest: −$1,961
• − Property taxes: −$893
• − Insurance: −$175
• − Repairs & maintenance: −$1,629
• − Management: −$1,629
• − Depreciation: −$1,018
• Taxable income: $13,063
• Est. tax owed @ 24.0%: −$3,135
• After-tax cash flow: $9,685/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

-10.3% since first listed

17 events — show timeline

• 2026-05-16 Listed $35,000 BRIGHT MLS
• 2025-01-09 Pending — BRIGHT MLS
• 2025-01-08 Listing Removed — BRIGHT MLS
• 2024-12-11 Listed $40,000 BRIGHT MLS
• 2010-08-31 Delisted — MRIS
• 2010-08-31 Listing Removed — BRIGHT MLS
• 2010-08-04 Delisted — MRIS
• 2010-08-04 Listing Removed — BRIGHT MLS
• 2010-08-02 Relisted — MRIS
• 2010-08-02 Price Changed — MRIS
• 2010-07-31 Delisted — MRIS
• 2010-07-14 Listed — MRIS
• 2010-07-14 Listed $20,000 BRIGHT MLS
• 2010-05-19 Listed — MRIS
• 2010-05-19 Listed $39,000 BRIGHT MLS
• 2007-05-30 Delisted — MRIS
• 2007-03-12 Listed — MRIS

Property tax history

+5.1%/yr

Latest (2025): $893 · +31.0% YoY. Source: county tax records.