1523 Argyle Ave · Baltimore, MD 21217

$99,000

3 bd · 1.5 ba · 1,400 sqft · Townhouse · 3 Days on market

Built 1920 1,306 sqft lot Est $179k · 45% under ↓ 60% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Upton never looked so good! How about four finished floors with updated mechanical equipment and modern finishes? This one sits on a wide street with great curb appeal and there’s even a community park space just out the back door. Inside you’ll find full updating throughout which was completed not too many years ago. A couple of quickie repairs and this giant home will be turn key for an owner or a tenant. You are convenient to public transportation and shopping is plentiful along Pennsylvania Avenue. You really can’t touch this much space for this kind of money anywhere near here so come take a look and we will show you what we’re talking about. A real money maker right here my friends!

Key facts

• Updated finishes
• Built 1920
• Listed 2 days

Tags

• RENOVATED BALTIMORE ROWHOME
• UPDATED FINISHES

🏷️ Possibly a rental listed for sale. The $99,000 price doesn't fit this home's estimated sale value (~$179,200) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $99k.

Deal economics

• At list price, monthly cash flow is $822 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Cap rate 16.3% 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: 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 (+6.6%/yr); 331 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• At $1,825/mo this rent would consume 57% of the median local household income ($38k/yr) (locally 2921% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k 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 + 6.6% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts; this cycle's ask is 148% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $85k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $99,000

Questions for the listing agent

1. Built in 1920 — 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: 1.84% ✓
• Cap rate: 16.26%
• Cash-on-cash: 35.60%
• DSCR: 2.58
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $179,200
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1013 Myrtle Ave	0.40mi	3/2.5	1,440 (+3%)	3mo	$185,000	$128	70
1318 Division St	0.22mi	3/1.0	1,300 (-7%)	7mo	$32,000	$25	70
605 N Fremont Ave N	0.43mi	3/3.0	1,440 (+3%)	0mo	$185,000	$128	69
1407 Jordan St	0.48mi	3/3.0	1,400 (0%)	5mo	$425,500	$304	68
2115 Mcculloh St	0.52mi	3/1.5	1,350 (-4%)	4mo	$77,000	$57	67
811 N Mount St	0.59mi	3/2.0	1,410 (+1%)	3mo	$85,000	$60	66
1719 Baker St	0.68mi	2/1.0 (-1)	1,400 (0%)	2mo	$19,250	$14	60
1901 Linden Ave	0.57mi	2/1.5 (-1)	1,240 (-11%)	1mo	$275,000	$222	48
700 Cumberland St	0.66mi	4/2.0 (+1)	1,280 (-9%)	3mo	$107,800	$84	46
512 Saint Mary St	0.66mi	2/2.5 (-1)	1,568 (+12%)	2mo	$305,000	$195	39
831 Lennox St	0.68mi	3/3.5	1,600 (+14%)	3mo	$363,740	$227	34
Park Ave	0.63mi	3/3.5	1,600 (+14%)	6mo	$375,990	$235	34

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 · 6.63% rent growth · sell at horizon

5-year hold

• IRR: 35.1%
• Equity multiple: 2.56×
• Total profit: $43,222
• Equity at exit: $14,761

10-year hold

• IRR: 43.7%
• Equity multiple: 5.89×
• Total profit: $135,563
• Equity at exit: $8,560

Cash invested: $27,720 (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 21217

• Rents YoY: 6.6%
• Active inventory: 331
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,825 high
• Mortgage (P&I): −$519
• Tax from tax record: −$59 /mo · $705/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$383
• Net cashflow: $822

Break-even live

Break-even rent $784

Max offer price $99,000

Occupancy floor 50%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
910 N Arlington Ave Unit 2 Baltimore, MD	4.0	2.0	1220	$1,850	$1.52	23d	1	0.19mi
1409 McCulloh St Unit McCulloh UA Baltimore, MD	2.0	1.5	1080	$1,550	$1.44	43d	1	0.30mi
1346 N Carey St Baltimore, MD	2.0	1.5	1100	$1,500	$1.36	43d	1	0.33mi
1920 McCulloh St Apt 2 Baltimore, MD	2.0	1.0	1000	$1,450	$1.45	43d	1	0.39mi
1315 Presstman St Baltimore, MD	4.0	2.0	1700	$2,000	$1.18	43d	1	0.40mi
1931 McCulloh St Unit 1 Baltimore, MD	3.0	1.0	1000	$1,500	$1.50	43d	1	0.42mi
1049 Brantley Ave Unit 2 Baltimore, MD	3.0	1.0	1200	$1,350	$1.12	23d	1	0.42mi
2028 Druid Hill Ave Unit 1 Baltimore, MD	3.0	2.5	1437	$1,750	$1.22	2d	1	0.42mi
2028 Druid Hill Ave Baltimore, MD	3.0	2.5	1437	$1,799	$1.25	10d	1	0.42mi
834 N Stricker St Baltimore, MD	4.0	1.0	1200	$1,500	$1.25	20d	1	0.47mi
1315 Harlem Ave Unit B Baltimore, MD	2.0	1.0	900	$1,425	$1.58	23d	1	0.47mi
1315 Harlem Ave Unit C Baltimore, MD	2.0	1.0	900	$1,425	$1.58	43d	1	0.47mi
2037 McCulloh St Unit 3 Baltimore, MD	2.0	2.0	937	$1,650	$1.76	17d	1	0.47mi
1829 Eutaw Pl Unit B Baltimore, MD	2.0	2.0	1278	$2,100	$1.64	4d	1	0.49mi
2143 Druid Hill Ave Unit 2 Baltimore, MD	2.0	1.0	915	$1,400	$1.53	43d	1	0.52mi
1613 Riggs Ave Baltimore, MD	3.0	2.5	1800	$1,800	$1.00	23d	1	0.52mi
1123 N Eutaw St Baltimore, MD	2.0	2.0	1052	$1,582	$1.50	4d	4	0.53mi
1534 N Stricker St Baltimore, MD	2.0	1.5	900	$1,475	$1.64	14d	1	0.53mi
1722 Bolton St Unit 3 Baltimore, MD	2.0	1.0	942	$1,600	$1.70	4d	1	0.56mi
1427 Bolton St Unit 2 Baltimore, MD	2.0	2.0	1802	$3,600	$2.00	4d	1	0.56mi
1614 N Calhoun St Baltimore, MD	2.0	1.0	950	$1,300	$1.37	43d	1	0.59mi
1202 Bolton St #3 Baltimore, MD	2.0	1.0	1200	$2,300	$1.92	43d	1	0.60mi
519 Sanford Pl Baltimore, MD	3.0	1.0	1300	$1,650	$1.27	16d	1	0.61mi
1714 Park Ave #202 Baltimore, MD	2.0	2.0	1000	$1,800	$1.80	23d	1	0.61mi
1509 Edmondson Ave #1 Baltimore, MD	3.0	2.0	1600	$2,275	$1.42	23d	1	0.63mi
1205 Clendenin St Baltimore, MD	3.0	1.5	1560	$800	$0.51	23d	1	0.64mi
1516 N Mount St Baltimore, MD	3.0	1.5	1830	$1,750	$0.96	14d	1	0.65mi
1729 Park Ave Unit 4 Baltimore, MD	2.0	2.0	900	$1,725	$1.92	4d	1	0.66mi
1433 N Fulton Ave Baltimore, MD	2.0	1.0	1200	$1,500	$1.25	43d	1	0.67mi
813 N Fulton Ave Unit 1 Baltimore, MD	2.0	1.0	1200	$1,350	$1.12	43d	1	0.67mi
815 Lennox St Baltimore, MD	3.0	3.5	1600	$2,790	$1.74	23d	1	0.68mi
734 Watts St Baltimore, MD	3.0	3.5	1720	$2,900	$1.69	43d	1	0.69mi
1625 Edmondson Ave Unit 1 Baltimore, MD	4.0	3.0	1500	$2,175	$1.45	4d	1	0.70mi
1625 Edmondson Ave Unit 2 Baltimore, MD	4.0	3.0	1500	$1,895	$1.26	12d	1	0.70mi
1111 Park Ave Baltimore, MD	2.0	1.0–2.0	738	$2,139	$2.90	2d	21	0.71mi
1121 Whitelock St Baltimore, MD	2.0	1.0	1180	$1,300	$1.10	43d	1	0.73mi
1624 Westwood Ave Baltimore, MD	3.0	2.0	1000	$1,900	$1.90	43d	1	0.74mi
2409 Francis St Baltimore, MD	3.0	1.0	1298	$1,500	$1.16	43d	1	0.75mi
628 N Eutaw St Baltimore, MD	1.0–3.0	1.0–2.0	824	$1,854	$2.25	1d	6	0.75mi
2339 Eutaw Pl Ste 1 Baltimore, MD	2.0	1.0	1300	$1,275	$0.98	43d	1	0.75mi

Listing history 15 events

1. 2026-06-18
   days on market $99,000 Active 3 DOM
2. 2026-06-17
   remarks 687-char remark
3. 2026-06-17
   pricestatusdays on marketlisting id $99,000 Active 2 DOM
4. 2026-04-27
   status Pending
5. 2026-03-19
   listed $40,000 Active
6. 2026-01-05
   historical
7. 2025-10-27
   price $169,000
8. 2025-10-18
   price $180,000
9. 2025-10-06
   listed $190,000 Active
10. 2025-05-01
    soldstatus $84,900
11. 2025-03-28
    soldstatus $84,900 Closed 721-char remark

    Show marketing remark (721 chars)

    Upton never looked so good! How about four finished floors with updated mechanical equipment and modern finishes? This one sits on a wide street with great curb appeal and there’s even a community park space just out the back door. Inside you’ll find full updating throughout which was completed not too many years ago. A couple of quickie repairs and this giant home will be turn key for an owner or a tenant. You are convenient to public transportation and shopping is plentiful along Pennsylvania Avenue. You really can’t touch this much space for this kind of money anywhere near here so come take a look and we will show you what we’re talking about. A real money maker right here my friends!

12. 2025-03-01
    historical Active Under Contract 721-char remark

    Show marketing remark (721 chars)

    Upton never looked so good! How about four finished floors with updated mechanical equipment and modern finishes? This one sits on a wide street with great curb appeal and there’s even a community park space just out the back door. Inside you’ll find full updating throughout which was completed not too many years ago. A couple of quickie repairs and this giant home will be turn key for an owner or a tenant. You are convenient to public transportation and shopping is plentiful along Pennsylvania Avenue. You really can’t touch this much space for this kind of money anywhere near here so come take a look and we will show you what we’re talking about. A real money maker right here my friends!

13. 2025-02-17
    listed $84,900 Active 721-char remark

    Show marketing remark (721 chars)

    Upton never looked so good! How about four finished floors with updated mechanical equipment and modern finishes? This one sits on a wide street with great curb appeal and there’s even a community park space just out the back door. Inside you’ll find full updating throughout which was completed not too many years ago. A couple of quickie repairs and this giant home will be turn key for an owner or a tenant. You are convenient to public transportation and shopping is plentiful along Pennsylvania Avenue. You really can’t touch this much space for this kind of money anywhere near here so come take a look and we will show you what we’re talking about. A real money maker right here my friends!

14. 2023-06-14
    soldstatus $100,000
15. 1993-07-02
    soldstatus $20

ⓘ 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: $705 · $59/mo
• Projected year-2 tax: $892 · $74/mo
• Expected delta: +$187/yr (+$16/mo · 26.6%)

ⓘ 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: $21,895
• − Mortgage interest: −$5,546
• − Property taxes: −$705
• − Insurance: −$495
• − Repairs & maintenance: −$1,752
• − Management: −$1,752
• − Depreciation: −$2,880
• Taxable income: $8,766
• Est. tax owed @ 24.0%: −$2,104
• After-tax cash flow: $7,763/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): 30,792
• Household income: $38,409
• Rent vs Own: 70.0% rent · 30.0% own
• Severe rent burden: 2921.0

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 (81%)
• Race & ethnicity: Black 81% White 12% Two or more races 4% Hispanic / Latino 2% Asian 2%
• Common ancestry: Romanian 1% Hispanic 1% Italian 1%
• Foreign-born: 5% · Canada, China, South Korea
• Languages at home: 94% English-only · Spanish 2% French/Haitian/Cajun 1% Chinese 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: ▼ -187.20%
• Current HPI: 104.2102
• Rent YoY: ▲ 6.63%
• 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

-60.0% since first listed

12 events — show timeline

• 2026-04-27 Pending — BRIGHT MLS
• 2026-03-19 Listed $40,000 BRIGHT MLS
• 2026-01-05 Listing Removed — BRIGHT MLS
• 2025-10-27 Price Changed $169,000 BRIGHT MLS
• 2025-10-18 Price Changed $180,000 BRIGHT MLS
• 2025-10-06 Listed $190,000 BRIGHT MLS
• 2025-05-01 Sold (Public Records) $84,900 Public Records
• 2025-03-28 Sold (MLS) $84,900 BRIGHT MLS
• 2025-03-01 Contingent — BRIGHT MLS
• 2025-02-17 Listed $84,900 BRIGHT MLS
• 2023-06-14 Sold (Public Records) $100,000 Public Records
• 1993-07-02 Sold (Public Records) $20 Public Records

Property tax history

+3.0%/yr

Latest (2025): $705 · +0.0% YoY. Source: county tax records.