6632 Hartwait St · Baltimore, MD 21224

$139,000

3 bd · 1.0 ba · 784 sqft · SingleFamily public records · 1 Days on market

Built 1946 6,000 sqft lot Est $207k · 33% under

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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 +29.7/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• Livability +3.8/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great location on quiet street. Cape Cod in need of some TLC and minor repairs. Roof, HVAC, Water Heater are all sound. Basement clean and dry. Add your own carpet, windows, fresh paint to make it a home!

Key facts

• 6,000 sq ft lot
• 2 garage spots
• Built 1946

Property features AI

Exterior

• Parking: Detached garage with 2 spaces; On-street parking available; Garage has a garage door opener
• Utilities: Public water; Public sewer; Electric service
• Home design: Detached structure; Year built: estimated
• Construction: Asbestos construction materials; Asphalt roof; Concrete perimeter foundation; Above-grade and below-grade structures
• Exterior features: Porch(es)

Interior

• Kitchen: Combination kitchen/dining (appliance details not provided)
• Bedrooms: 3 bedrooms on main level
• Bathrooms: 1 full bathroom on main level
• Heating & cooling: Central heating (natural gas); Central air conditioning (electric)
• Interior features: Combination kitchen/dining area; Full basement with outside entrance
• Laundry & utility: Hot water heated by natural gas

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $139k.

Deal economics

• At list price, monthly cash flow is $451 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Cap rate 10.7% 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 (+1.3%/yr); 391 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 41% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $961 of loan paydown is wiped out by about $4k 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.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 14y 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 $66k; list at $139k implies a 109% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; 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 $139,000

Questions for the listing agent

1. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.32% ✓
• Cap rate: 10.67%
• Cash-on-cash: 15.63%
• DSCR: 1.70
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $206,976
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6632 Hartwait St	0.00mi	3/1.0	784 (0%)	0mo	$128,000	$163	100
6914 Fenway	0.55mi	2/1.5 (-1)	768 (-2%)	20mo	$193,750	$252	47
6915 Homeway	0.60mi	2/1.0 (-1)	851 (+8%)	8mo	$225,000	$264	46
7102 Martell Ave	0.63mi	4/1.0 (+1)	837 (+7%)	13mo	$221,000	$264	44

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 · 1.31% rent growth · sell at horizon

5-year hold

• IRR: 2.2%
• Equity multiple: 1.08×
• Total profit: $3,207
• Equity at exit: $20,725

10-year hold

• IRR: 10.0%
• Equity multiple: 1.72×
• Total profit: $27,843
• Equity at exit: $12,018

Cash invested: $38,920 (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 21224

• Rents YoY: 1.3%
• Active inventory: 391
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,836 high
• Mortgage (P&I): −$729
• Tax from tax record: −$157 /mo · $1,879/yr
• Insurance: −$58
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$386
• Net cashflow: $451

Break-even live

Break-even rent $1,265

Max offer price $139,000

Occupancy floor 70%

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6518 Brown Ave Baltimore, MD	1.0–2.0	1.0	675	$1,300	$1.93	23d	3	0.14mi
6722 Brentwood Ave Unit 2FL Dundalk, MD	3.0	1.0	900	$1,750	$1.94	43d	1	0.23mi
1613 Elrino St Baltimore, MD	2.0	1.0	700	$1,350	$1.93	43d	1	0.44mi
1504 Elrino St Baltimore, MD	2.0	2.0	1050	$1,650	$1.57	4d	1	0.48mi
2125 Cameron Dr Dundalk, MD	1.0–2.0	1.0	697	$1,350	$1.94	43d	9	0.65mi
628 47th St Apt RW2 Baltimore, MD	2.0	1.0	750	$1,200	$1.60	10d	1	0.66mi
630 47th St Unit B Baltimore, MD	2.0	1.0	750	$1,200	$1.60	43d	1	0.67mi
1955 Walnut Ave Dundalk, MD	3.0	1.0	950	$2,300	$2.42	43d	1	0.69mi
6905 Bank St Baltimore, MD	2.0	1.5	784	$1,650	$2.10	43d	1	0.97mi
442 Folcroft St Unit A Baltimore, MD	2.0	1.5	1071	$1,600	$1.49	3d	1	1.03mi
456 Elrino St Unit B Baltimore, MD	2.0	1.0	800	$1,600	$2.00	43d	1	1.03mi
334 Kane St Baltimore, MD	2.0	2.0	1050	$1,675	$1.60	23d	1	1.03mi
6802 Conley St Baltimore, MD	2.0	1.5	939	$1,750	$1.86	21d	1	1.04mi
363 Gusryan St Baltimore, MD	2.0	2.0	840	$1,950	$2.32	12d	1	1.07mi
6552 Parnell Ave Dundalk, MD	2.0	1.5	885	$1,500	$1.69	17d	1	1.10mi
560 Bayview Blvd Baltimore, MD	1.0–3.0	1.0–3.0	1108	$3,372	$3.04	2d	25	1.13mi
6545 Baltimore Ave Dundalk, MD	2.0	1.0	852	$1,500	$1.76	43d	1	1.17mi
7124 Gough St Baltimore, MD	2.0	1.5	1096	$1,700	$1.55	21d	1	1.21mi
2624 Liberty Pkwy Dundalk, MD	3.0	1.5	1110	$1,856	$1.67	43d	1	1.22mi
7261 Bridgewood Dr Baltimore, MD	3.0	2.0	896	$2,495	$2.78	23d	1	1.31mi
7136 Eastbrook Ave Baltimore, MD	4.0	2.0	996	$2,200	$2.21	4d	1	1.37mi
7319 Conley St Baltimore, MD	3.0	2.0	1080	$1,950	$1.81	17d	1	1.38mi
7520 Durwood Rd Dundalk, MD	3.0	1.0	1110	$2,100	$1.89	43d	1	1.40mi
849 Loalan Ave Dundalk, MD	3.0	1.5	1024	$1,850	$1.81	14d	1	1.40mi
7508 Ives Ln Dundalk, MD	2.0	1.0	896	$1,750	$1.95	43d	1	1.43mi
7003 Dunmanway Dundalk, MD	1.0–2.0	1.0	772	$1,345	$1.74	1d	13	1.44mi
7517 Belmont Ave Baltimore, MD	2.0	1.0	720	$1,800	$2.50	17d	1	1.46mi

Tax reassessment forecast MD · Partial reset (capped growth)

• Current annual tax: $1,879 · $157/mo
• Projected year-2 tax: $1,879 · $157/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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,031
• − Mortgage interest: −$7,786
• − Property taxes: −$1,879
• − Insurance: −$1,362
• − Repairs & maintenance: −$1,762
• − Management: −$1,762
• − Depreciation: −$4,044
• Taxable income: $3,436
• Est. tax owed @ 24.0%: −$825
• After-tax cash flow: $4,592/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): 47,465
• Household income: $89,017
• Rent vs Own: 41.5% rent · 58.5% own
• Severe rent burden: 1786.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 55% Hispanic / Latino 21% Black 16% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2% Dominican 1%
• Common ancestry: Romanian 5% Lithuanian 2% Italian 1%
• Foreign-born: 17% · Canada, China, Vietnam
• Languages at home: 76% English-only · Spanish 18% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -332.23%
• Current HPI: 241.284
• Rent YoY: ▲ 1.31%
• 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

+363.3% since first listed

28 events — show timeline

• 2026-05-29 Pending — BRIGHT MLS
• 2026-05-29 Listed $139,000 BRIGHT MLS
• 2016-11-22 Sold (Public Records) $66,500 Public Records
• 2016-10-14 Sold (MLS) $66,500 MRIS
• 2016-10-14 Sold (MLS) $66,500 BRIGHT MLS
• 2016-09-12 Pending — MRIS
• 2016-08-31 Listed $64,900 MRIS
• 2013-08-31 Delisted — MRIS
• 2013-08-29 Sold (Public Records) $64,000 Public Records
• 2013-08-29 Sold (MLS) $64,000 BRIGHT MLS
• 2013-08-29 Sold (MLS) $64,000 MRIS
• 2013-08-11 Listing Removed — BRIGHT MLS
• 2013-06-14 Price Changed $89,900 MRIS
• 2013-04-22 Price Changed $99,900 MRIS
• 2013-04-19 Price Changed $109,000 MRIS
• 2013-04-02 Price Changed $109,900 MRIS
• 2013-03-27 Price Changed $110,900 MRIS
• 2013-03-15 Price Changed $112,900 MRIS
• 2013-03-05 Price Changed $113,900 MRIS
• 2013-02-28 Price Changed $114,900 MRIS
• 2013-02-19 Relisted — MRIS
• 2013-02-19 Price Changed $115,900 MRIS
• 2012-12-29 Pending — MRIS
• 2012-12-21 Price Changed $112,900 MRIS
• 2012-12-18 Price Changed $113,900 MRIS
• 2012-12-15 Listed $119,000 MRIS
• 2012-12-15 Listed $89,900 BRIGHT MLS
• 1980-08-27 Sold (Public Records) $30,000 Public Records

Property tax history

-2.5%/yr

Latest (2025): $1,879 · +0.0% YoY. Source: county tax records.