412 N Curley St · Baltimore, MD 21224

$150,000

3 bd · 1.0 ba · 1,008 sqft · Townhouse public records · 59 Days on market

Built 1945 1,008 sqft lot $149/sqft · 69% above area

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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 +29.1/30.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• ARV discount +7.5/15.0
• 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

Currently rented to responsible tenants at $1400 month! Discover a prime investment opportunity in the heart of Elwood Park! This charming 3-bedroom, 1-bathroom AirLite townhouse, built in 1945, offers a solid foundation for both seasoned investors and newcomers alike. With 1,008 sq. ft. of potential, this brick gem is ready for your creative touch, making it an ideal candidate for renovation and value appreciation. The property features a low-maintenance lot of just 0.02 acres, perfect for maximizing rental income without the burden of extensive upkeep. On-street parking ensures convenience for tenants, while the vibrant community atmosphere enhances desirability. With the growing demand for rental properties in this area, you can expect strong returns on your investment. Whether you choose to renovate and flip or hold for rental income, this property is a canvas for your vision. Don't miss out on the chance to capitalize on this promising investment in a thriving neighborhood!

Key facts

• Low maintenance lot
• On street parking
• Built 1945

Tags

• LOW MAINTENANCE LOT
• ON STREET PARKING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $150k.

Deal economics

• At list price, monthly cash flow is $519 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $146k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.4% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $1k 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.
• At projected returns (-3.0% appreciation + 1.3% rent growth), your $42k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 27y 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 $15k; list at $150k implies a 900% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — 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 $145,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 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 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.34% ✓
• Cap rate: 10.45%
• Cash-on-cash: 14.84%
• DSCR: 1.66
• GRM: 6.2

CMA / ARV

• ARV (median comp): $88,967
• List price: $150,000
• Delta: 68.60%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
530 N Curley St	0.08mi	3/1.0	960 (-5%)	2mo	$85,000	$89	87
20 N Decker Ave	0.25mi	3/1.0	1,040 (+3%)	2mo	$149,000	$143	82
441 N East Ave	0.22mi	3/1.5	976 (-3%)	2mo	$175,000	$179	81
735 N Lakewood Ave	0.29mi	3/1.5	970 (-4%)	2mo	$80,000	$82	77
3534 E Fairmount Ave	0.47mi	2/1.0 (-1)	1,018 (+1%)	2mo	$86,000	$84	70
629 N Kenwood Ave	0.18mi	2/1.5 (-1)	1,100 (+9%)	1mo	$76,500	$70	69
155 N Streeper St	0.15mi	2/2.0 (-1)	912 (-10%)	0mo	$220,000	$241	68
14 S Curley St	0.33mi	2/1.0 (-1)	1,092 (+8%)	1mo	$269,000	$246	65
3500 E Fairmount Ave	0.43mi	2/1.0 (-1)	1,092 (+8%)	2mo	$107,000	$98	59
2736 Mura St	0.65mi	3/2.0	1,120 (+11%)	0mo	$81,000	$72	47
410 N Washington St	0.73mi	2/2.5 (-1)	950 (-6%)	2mo	$226,900	$239	44
2811 E Biddle St	0.59mi	2/1.0 (-1)	1,148 (+14%)	2mo	$75,000	$65	43

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: 3.4%
• Equity multiple: 1.13×
• Total profit: $5,457
• Equity at exit: $22,365

10-year hold

• IRR: 11.3%
• Equity multiple: 1.81×
• Total profit: $34,203
• Equity at exit: $12,969

Cash invested: $42,000 (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: 6.2×

Monthly cashflow live

• Estimated rent: $2,013 high
• Mortgage (P&I): −$787
• Tax from tax record: −$222 /mo · $2,659/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $519

Break-even live

Break-even rent $1,355

Max offer price $150,000

Occupancy floor 69%

Sensitivity live

Price	-10% $604	-5% $562	+0% $519	+5% $477	+10% $434
Rent	-10% $360	-5% $440	+0% $519	+5% $599	+10% $678
Rate	-1.0pp $595	-0.5pp $558	base $519	+0.5pp $480	+1.0pp $441

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2815 Orleans St Baltimore, MD	2.0	1.0	1204	$1,600	$1.33	2d	1	0.05mi
2800 Orleans St Baltimore, MD	3.0	1.0	1404	$1,600	$1.14	15d	1	0.07mi
2800 Orleans St Baltimore, MD	3.0	1.0	1404	$1,600	$1.14	18d	1	0.07mi
150 N Curley St Baltimore, MD	2.0	2.5	1266	$1,850	$1.46	18d	1	0.12mi
520 N Decker Ave Baltimore, MD	2.0	1.0	1000	$1,650	$1.65	44d	1	0.13mi
415 N Belnord Ave Baltimore, MD	2.0	1.0	1008	$1,300	$1.29	24d	1	0.13mi
404 N Robinson St Baltimore, MD	3.0	3.0	1320	$2,200	$1.67	24d	1	0.16mi
404 N Robinson St Baltimore, MD	3.0	3.0	1320	$2,100	$1.59	17d	1	0.16mi
203 N Ellwood Ave Unit Main Baltimore, MD	2.0	2.0	880	$2,200	$2.50	24d	1	0.16mi
531 N Belnord Ave Baltimore, MD	2.0	1.5	1100	$1,700	$1.55	24d	1	0.18mi
34 N Linwood Ave Baltimore, MD	2.0	1.5	1288	$2,400	$1.86	24d	1	0.20mi
139 N Lakewood Ave Baltimore, MD	4.0	2.5	1370	$2,500	$1.82	44d	1	0.21mi
139 N Lakewood Ave Unit 1 Baltimore, MD	4.0	2.0	1370	$2,500	$1.82	44d	1	0.21mi
415 N Glover St Baltimore, MD	2.0	2.5	1092	$1,600	$1.47	24d	1	0.21mi
218 N Glover St Baltimore, MD	2.0	2.0	1360	$1,750	$1.29	44d	1	0.23mi
2934 E Monument St Baltimore, MD	2.0	1.0	1200	$1,499	$1.25	44d	1	0.23mi
2608 E Fayette St Unit 1 Baltimore, MD	2.0	1.0	900	$1,700	$1.89	15d	1	0.23mi
10 N Streeper St Baltimore, MD	3.0	2.5	1440	$2,500	$1.74	24d	1	0.24mi
502 N Glover St Baltimore, MD	2.0	1.5	827	$1,250	$1.51	21d	1	0.24mi
627 N Lakewood Ave Baltimore, MD	3.0	2.5	1175	$1,900	$1.62	22d	1	0.24mi
29 N Ellwood Ave Baltimore, MD	3.0	1.5	1100	$2,395	$2.18	24d	1	0.25mi
225 N Luzerne Ave Baltimore, MD	3.0	1.0	1198	$1,350	$1.13	20d	1	0.25mi
127 N Glover St Baltimore, MD	2.0	1.5	1110	$2,100	$1.89	3d	1	0.25mi
3205 Esther Pl Baltimore, MD	2.0	2.0	960	$1,850	$1.93	24d	1	0.25mi
718 N Curley St Baltimore, MD	3.0	3.0	1500	$2,000	$1.33	5d	1	0.26mi
724 N Curley St Baltimore, MD	3.0	3.0	1500	$2,200	$1.47	5d	1	0.26mi
2608 McElderry St Baltimore, MD	3.0	1.0	1144	$1,550	$1.35	24d	1	0.27mi
17 N East Ave Baltimore, MD	2.0	2.0	1326	$2,550	$1.92	24d	1	0.28mi
227 N Rose St Baltimore, MD	2.0	4.0	1420	$1,600	$1.13	24d	1	0.28mi
2815 E Madison St Baltimore, MD	4.0	2.0	1300	$2,500	$1.92	44d	1	0.29mi
233 N Rose St Baltimore, MD	2.0	2.5	934	$1,750	$1.87	18d	1	0.29mi
230 N Rose St Baltimore, MD	2.0	1.5	1200	$1,545	$1.29	44d	1	0.30mi
224 N Rose St Baltimore, MD	2.0	2.5	1120	$1,875	$1.67	18d	1	0.30mi
3304 McElderry St Baltimore, MD	3.0	2.0	1413	$1,900	$1.34	44d	1	0.30mi
517 N Rose St Baltimore, MD	3.0	1.0	845	$1,400	$1.66	5d	1	0.30mi
425 N Milton Ave Baltimore, MD	3.0	1.0	1200	$1,525	$1.27	15d	1	0.32mi
113 N Clinton St Baltimore, MD	2.0	1.0	1300	$1,995	$1.53	44d	1	0.32mi
9 N Luzerne Ave Baltimore, MD	3.0	2.5	1380	$2,450	$1.78	5d	1	0.33mi
104 N Rose St Baltimore, MD	3.0	2.0	936	$2,500	$2.67	44d	1	0.34mi
402 N Milton Ave Unit 402B Baltimore, MD	2.0	1.0	950	$1,290	$1.36	44d	1	0.34mi

Listing history 42 events

1. 2026-06-18
   days on market $150,000 Active 59 DOM
2. 2026-06-17
   days on market $150,000 Active 58 DOM
3. 2026-06-16
   days on market $150,000 Active 57 DOM
4. 2026-06-15
   days on market $150,000 Active 56 DOM
5. 2026-06-13
   days on market $150,000 Active 54 DOM
6. 2026-06-09
   days on market $150,000 Active 50 DOM
7. 2026-06-08
   days on market $150,000 Active 49 DOM
8. 2026-06-07
   days on market $150,000 Active 48 DOM
9. 2026-06-04
   days on market $150,000 Active 45 DOM
10. 2026-06-03
    days on market $150,000 Active 44 DOM
11. 2026-06-02
    days on market $150,000 Active 43 DOM
12. 2026-06-01
    days on market $150,000 Active 42 DOM
13. 2026-05-31
    days on market $150,000 Active 41 DOM
14. 2026-04-20
    listed $150,000 Active 993-char remark

    Show marketing remark (993 chars)

    Currently rented to responsible tenants at $1400 month! Discover a prime investment opportunity in the heart of Elwood Park! This charming 3-bedroom, 1-bathroom AirLite townhouse, built in 1945, offers a solid foundation for both seasoned investors and newcomers alike. With 1,008 sq. ft. of potential, this brick gem is ready for your creative touch, making it an ideal candidate for renovation and value appreciation. The property features a low-maintenance lot of just 0.02 acres, perfect for maximizing rental income without the burden of extensive upkeep. On-street parking ensures convenience for tenants, while the vibrant community atmosphere enhances desirability. With the growing demand for rental properties in this area, you can expect strong returns on your investment. Whether you choose to renovate and flip or hold for rental income, this property is a canvas for your vision. Don't miss out on the chance to capitalize on this promising investment in a thriving neighborhood!

15. 2021-05-27
    historical
16. 2021-05-23
    listed $110,000 Active
17. 2011-03-07
    historical
18. 2011-03-05
    soldstatus $15,000 Sold
19. 2011-03-05
    soldstatus $15,000
20. 2011-02-14
    status Contract
21. 2011-02-13
    historical
22. 2011-01-15
    price $19,900
23. 2010-12-13
    listed $24,900 Active
24. 2010-12-13
    listed $19,900
25. 2010-10-26
    historical Withdrawn
26. 2010-10-26
    historical
27. 2010-10-20
    listed Active
28. 2010-10-20
    listed $24,900
29. 2010-08-17
    historical Withdrawn
30. 2010-08-17
    historical
31. 2010-05-24
    listed Active
32. 2010-05-24
    listed $49,395
33. 2007-01-22
    soldstatus $65,000
34. 2006-10-06
    historical
35. 2006-05-03
    listed
36. 2006-04-13
    soldstatus $45,000
37. 2001-07-24
    historical
38. 2000-12-27
    listed
39. 1999-08-01
    historical
40. 1999-05-19
    listed
41. 1987-02-11
    soldstatus $20,300
42. 1986-02-03
    soldstatus $42,300

ⓘ 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: $2,659 · $222/mo
• Projected year-2 tax: $2,659 · $222/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: $24,153
• − Mortgage interest: −$8,402
• − Property taxes: −$2,659
• − Insurance: −$750
• − Repairs & maintenance: −$1,932
• − Management: −$1,932
• − Depreciation: −$4,364
• Taxable income: $4,113
• Est. tax owed @ 24.0%: −$987
• After-tax cash flow: $5,245/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

+254.6% since first listed

29 events — show timeline

• 2026-04-20 Listed $150,000 BRIGHT MLS
• 2021-05-27 Listing Removed — BRIGHT MLS
• 2021-05-23 Listed $110,000 BRIGHT MLS
• 2011-03-07 Delisted — MRIS
• 2011-03-05 Sold (MLS) $15,000 BRIGHT MLS
• 2011-03-05 Sold (MLS) $15,000 MRIS
• 2011-02-14 Pending — MRIS
• 2011-02-13 Listing Removed — BRIGHT MLS
• 2011-01-15 Price Changed $19,900 MRIS
• 2010-12-13 Listed $24,900 MRIS
• 2010-12-13 Listed $19,900 BRIGHT MLS
• 2010-10-26 Delisted — MRIS
• 2010-10-26 Listing Removed — BRIGHT MLS
• 2010-10-20 Listed — MRIS
• 2010-10-20 Listed $24,900 BRIGHT MLS
• 2010-08-17 Delisted — MRIS
• 2010-08-17 Listing Removed — BRIGHT MLS
• 2010-05-24 Listed — MRIS
• 2010-05-24 Listed $49,395 BRIGHT MLS
• 2007-01-22 Sold (Public Records) $65,000 Public Records
• 2006-10-06 Delisted — MRIS
• 2006-05-03 Listed — MRIS
• 2006-04-13 Sold (Public Records) $45,000 Public Records
• 2001-07-24 Delisted — MRIS
• 2000-12-27 Listed — MRIS
• 1999-08-01 Delisted — MRIS
• 1999-05-19 Listed — MRIS
• 1987-02-11 Sold (Public Records) $20,300 Public Records
• 1986-02-03 Sold (Public Records) $42,300 Public Records

Property tax history

+2.4%/yr

Latest (2025): $2,659 · +19.2% YoY. Source: county tax records.