642 Melvin Dr · Baltimore, MD 21230

$119,900

1 bd · 1.5 ba · 864 sqft · Townhouse public records · 22 Days on market

Built 1900 Est $191k · 37% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Discover the potential in Historic Ridgley's Delight, just steps from the professional schools of University of Maryland, Camden Yards and M & T Bank Stadium. This ideally priced renovation opportunity is situated on a desirable block where much of the heavy lifting has already been completed, including gutting, framing, plumbing with full bathroom installed and more. One bedroom, one bath residence is ideal for a first time home buyer or savvy investor seeking strong rental potential from the steady demand of University affiliates and downtown professionals. Conveniently located near the MARC train, with walkability, energy and historic charm throughout this vibrant community filled wi

Key facts

• Built 1900
• Listed 22 days

Property features AI

Finance

• Other: Below-grade finished area and usable space present
• Financial info: Ownership interest: ground rent; Annual ground rent payment (semi-annually)

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Interior townhouse / rowhouse
• Construction: Brick construction; Stone foundation
• Exterior features: Rear fencing; Ground rent exists (paid semi-annually)

Interior

• Kitchen: Refrigerator; Stove
• Bedrooms: 1 bedroom on the first upper level
• Bathrooms: 1 full bathroom
• Interior features: Historic property; Major rehab needed; Basement with connecting stairway
• Laundry & utility: Laundry on lower floor

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath townhouse listed at $120k.

Deal economics

• At list price, monthly cash flow is $494 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $118k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.2% 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 soft (-1.0%/yr); 362 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 $829 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 + 0.0% rent growth), your $34k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 30y 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 $70k; list at $120k implies a 71% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: 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 $118,101 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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: 1.38% ✓
• Cap rate: 11.24%
• Cash-on-cash: 17.65%
• DSCR: 1.79
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $190,944
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
649 Dover St	0.06mi	1/1.5	936 (+8%)	3mo	$195,000	$208	81
864 Carroll St	0.36mi	2/1.5 (+1)	880 (+2%)	3mo	$89,000	$101	72
421 S Sharp St S Unit R 11	0.44mi	2/2.0 (+1)	898 (+4%)	2mo	$220,000	$245	65
1121 Cleveland St	0.41mi	2/1.0 (+1)	912 (+6%)	2mo	$109,900	$121	63
1133 Sargeant St	0.49mi	2/1.5 (+1)	912 (+6%)	2mo	$67,500	$74	61
138 W Barre St Unit R 31	0.43mi	2/2.0 (+1)	960 (+11%)	1mo	$270,000	$281	54
731 S Hanover St Unit R2	0.60mi	2/1.0 (+1)	800 (-7%)	0mo	$180,000	$225	52
911 S Charles St #403	0.71mi	2/2.0 (+1)	905 (+5%)	1mo	$200,000	$221	51
119 S Carrollton Ave	0.62mi	2/1.5 (+1)	800 (-7%)	4mo	$83,000	$104	51
103 W Conway St Unit R 52	0.46mi	2/2.0 (+1)	975 (+13%)	1mo	$267,000	$274	49
900 Harden Ct	0.73mi	2/1.5 (+1)	936 (+8%)	3mo	$269,900	$288	44
1241 W Lombard St	0.69mi	2/1.0 (+1)	963 (+12%)	3mo	$150,000	$156	39

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 5.7%
• Equity multiple: 1.21×
• Total profit: $7,202
• Equity at exit: $17,877

10-year hold

• IRR: 12.3%
• Equity multiple: 1.84×
• Total profit: $28,127
• Equity at exit: $10,367

Cash invested: $33,572 (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 21230

• Rents YoY: -1.0%
• Active inventory: 362
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,652 high
• Mortgage (P&I): −$629
• Tax from tax record: −$132 /mo · $1,589/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $494

Break-even live

Break-even rent $1,027

Max offer price $119,900

Occupancy floor 65%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
653 Dover St Baltimore, MD	1.0	1.5	936	$1,500	$1.60	20d	1	0.05mi
657 Dover St Baltimore, MD	1.0	2.0	1080	$1,400	$1.30	12d	1	0.05mi
725 W Pratt St Baltimore, MD	1.0	1.0	584	$1,925	$3.29	10d	9	0.11mi
519 W Pratt St Baltimore, MD	1.0	1.0	576	$1,400	$2.43	2d	2	0.12mi
121 S Fremont Ave Baltimore, MD	1.0	1.0	582	$2,100	$3.61	20d	5	0.14mi
121 S Fremont Ave Apt 201 Baltimore, MD	—	1.0	552	$1,549	$2.81	17d	1	0.14mi
776 Washington Blvd Unit 3F Baltimore, MD	1.0	1.0	800	$1,000	$1.25	43d	1	0.23mi
410 W Lombard St Baltimore, MD	1.0	1.0	611	$1,995	$3.26	1d	4	0.25mi
519 Scott St Unit 1 Baltimore, MD	2.0	2.0	800	$2,000	$2.50	43d	1	0.26mi
805 Washington Blvd Unit B Baltimore, MD	2.0	2.0	1106	$1,650	$1.49	20d	1	0.26mi
805 Washington Blvd Unit A Baltimore, MD	2.0	2.0	1050	$1,650	$1.57	43d	1	0.26mi
301 W Lombard St Baltimore, MD	1.0	1.0–2.0	499	$1,775	$3.56	1d	30	0.29mi
11 S Eutaw St Baltimore, MD	1.0–2.0	1.0–2.0	1023	$1,781	$1.74	1d	11	0.34mi
300 W Lombard St Baltimore, MD	2.0	1.0–2.0	686	$1,565	$2.28	2d	7	0.34mi
847 McHenry St Baltimore, MD	2.0	2.0	952	$1,795	$1.89	4d	1	0.35mi
853 Reinhart St Baltimore, MD	2.0	2.5	780	$1,800	$2.31	43d	1	0.35mi
1 S Eutaw St Unit 1BR Baltimore, MD	1.0	1.0	600	$1,245	$2.08	14d	1	0.36mi
300 W Redwood St Baltimore, MD	1.0	1.0	565	$2,400	$4.25	17d	1	0.37mi
311 W Baltimore St Unit 504 Baltimore, MD	2.0	2.0	1100	$1,999	$1.82	19d	1	0.38mi
311 W Baltimore St #503 Baltimore, MD	1.0	1.0	900	$1,599	$1.78	43d	1	0.38mi
869 Hollins St Unit 3F Baltimore, MD	—	1.0	700	$949	$1.36	12d	1	0.39mi
617 W Lexington St Baltimore, MD	1.0–2.0	1.0	975	$2,000	$2.05	10d	4	0.43mi
8 N Howard St Baltimore, MD	2.0	1.0–2.0	1433	$2,400	$1.67	1d	36	0.43mi
123 W Barre St #112 Baltimore, MD	2.0	1.5	975	$2,200	$2.26	43d	1	0.45mi
305 W Fayette St Baltimore, MD	1.0–2.0	1.0–2.0	895	$1,250	$1.40	43d	1	0.46mi
300 W Fayette St Baltimore, MD	3.0	1.0–3.0	1267	$1,480	$1.17	2d	9	0.47mi
1127 Sargeant St Baltimore, MD	2.0	1.5	1080	$1,275	$1.18	23d	1	0.49mi
2 Hopkins Plaza Baltimore, MD	2.0	1.0–2.0	942	$2,412	$2.56	2d	12	0.50mi
1160 Washington Blvd Baltimore, MD	2.0	1.0	960	$1,575	$1.64	23d	1	0.50mi
1163 Washington Blvd Baltimore, MD	2.0	2.5	1012	$1,700	$1.68	12d	1	0.51mi
101 W Fayette St Baltimore, MD	1.0	1.0	555	$1,800	$3.24	4d	26	0.54mi
3 Andrew Pl Unit R98 Baltimore, MD	2.0	2.0	975	$2,100	$2.15	12d	1	0.55mi
1215 James St Baltimore, MD	2.0	1.0	960	$1,500	$1.56	43d	1	0.58mi
101 N Schroeder St Baltimore, MD	3.0	1.0–2.0	1037	$1,776	$1.71	2d	12	0.58mi
318 N Paca St Unit 10 Baltimore, MD	2.0	1.0	600	$1,200	$2.00	21d	1	0.59mi
318 N Paca St Unit 4 Baltimore, MD	—	1.0	600	$900	$1.50	43d	1	0.59mi
318 N Paca St Unit 9 Baltimore, MD	1.0	1.0	600	$1,000	$1.67	43d	1	0.59mi
318 N Paca St Unit 8 Baltimore, MD	—	1.0	600	$900	$1.50	23d	1	0.59mi
611 S Charles St Baltimore, MD	2.0	1.0–2.0	823	$2,468	$3.00	1d	8	0.62mi
22 Light St Baltimore, MD	2.0–3.0	1.0–2.0	956	$1,195	$1.25	2d	1	0.63mi

Listing history 49 events

1. 2026-06-18
   days on market $119,900 Active 22 DOM
2. 2026-06-17
   days on market $119,900 Active 21 DOM
3. 2026-06-16
   days on market $119,900 Active 20 DOM
4. 2026-06-15
   days on market $119,900 Active 19 DOM
5. 2026-06-13
   days on market $119,900 Active 17 DOM
6. 2026-06-09
   days on market $119,900 Active 13 DOM
7. 2026-06-08
   days on market $119,900 Active 12 DOM
8. 2026-06-07
   days on market $119,900 Active 11 DOM
9. 2026-06-04
   days on market $119,900 Active 8 DOM
10. 2026-06-03
    days on market $119,900 Active 7 DOM
11. 2026-06-02
    days on market $119,900 Active 6 DOM
12. 2026-06-01
    days on market $119,900 Active 5 DOM
13. 2026-05-31
    days on market $119,900 Active 4 DOM
14. 2026-05-28
    listed $119,900 Active
15. 2026-05-27
    historical $119,900
16. 2024-12-01
    historical
17. 2024-10-24
    listed $125,000 Active
18. 2024-10-23
    historical
19. 2019-11-20
    soldstatus $70,000
20. 2019-10-04
    historical
21. 2019-08-26
    price $79,900
22. 2019-08-26
    status Active
23. 2019-07-29
    status Pending
24. 2019-07-09
    price $89,900
25. 2019-07-02
    listed $99,900 Active
26. 2017-01-25
    soldstatus $66,134
27. 2016-06-28
    soldstatus $66,134
28. 2016-06-28
    soldstatus $66,134 Sold
29. 2016-05-25
    status Contract
30. 2016-05-17
    price $50,000
31. 2016-04-25
    status Active
32. 2016-02-03
    status Contract
33. 2016-01-25
    status Active
34. 2016-01-14
    status Contract
35. 2015-12-14
    price $75,000
36. 2015-10-20
    price $85,000
37. 2015-09-14
    listed $99,900 Active
38. 2007-08-29
    soldstatus $185,000
39. 2007-07-31
    soldstatus $185,000
40. 2007-07-03
    historical
41. 2007-03-23
    listed $195,000
42. 2005-02-03
    soldstatus $50,000
43. 1998-08-02
    historical
44. 1997-01-23
    historical
45. 1996-07-23
    listed
46. 1996-07-23
    listed
47. 1996-07-22
    historical
48. 1996-05-01
    listed
49. 1987-03-31
    soldstatus $18,000

ⓘ 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: $1,589 · $132/mo
• Projected year-2 tax: $1,589 · $132/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 4/10 Moderate FEMA zone X (unshaded) · 20% 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: $19,824
• − Mortgage interest: −$6,716
• − Property taxes: −$1,589
• − Insurance: −$600
• − Repairs & maintenance: −$1,586
• − Management: −$1,586
• − Depreciation: −$3,488
• Taxable income: $4,259
• Est. tax owed @ 24.0%: −$1,022
• After-tax cash flow: $4,905/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): 32,977
• Household income: $91,842
• Rent vs Own: 49.3% rent · 50.7% own
• Severe rent burden: 1463.0

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 0.63)
• Race & ethnicity: White 55% Black 23% Hispanic / Latino 13% Two or more races 6% Asian 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1%
• Common ancestry: Romanian 5% Lithuanian 2% Italian 2%
• Foreign-born: 10% · Canada, China
• Languages at home: 85% English-only · Spanish 9% Other Indo-European 1% Other Asian/Pacific 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: ▼ -311.43%
• Current HPI: 284.338
• Rent YoY: ▼ -1.00%
• 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

+566.1% since first listed

36 events — show timeline

• 2026-05-28 Listed $119,900 BRIGHT MLS
• 2026-05-27 Coming Soon $119,900 BRIGHT MLS
• 2024-12-01 Listing Removed — BRIGHT MLS
• 2024-10-24 Listed $125,000 BRIGHT MLS
• 2024-10-23 Coming Soon — BRIGHT MLS
• 2019-11-20 Sold (Public Records) $70,000 Public Records
• 2019-10-04 Listing Removed — BRIGHT MLS
• 2019-08-26 Price Changed $79,900 BRIGHT MLS
• 2019-08-26 Relisted — BRIGHT MLS
• 2019-07-29 Pending — BRIGHT MLS
• 2019-07-09 Price Changed $89,900 BRIGHT MLS
• 2019-07-02 Listed $99,900 BRIGHT MLS
• 2017-01-25 Sold (Public Records) $66,134 Public Records
• 2016-06-28 Sold (MLS) $66,134 MRIS
• 2016-06-28 Sold (MLS) $66,134 BRIGHT MLS
• 2016-05-25 Pending — MRIS
• 2016-05-17 Price Changed $50,000 MRIS
• 2016-04-25 Relisted — MRIS
• 2016-02-03 Pending — MRIS
• 2016-01-25 Relisted — MRIS
• 2016-01-14 Pending — MRIS
• 2015-12-14 Price Changed $75,000 MRIS
• 2015-10-20 Price Changed $85,000 MRIS
• 2015-09-14 Listed $99,900 MRIS
• 2007-08-29 Sold (Public Records) $185,000 Public Records
• 2007-07-31 Sold (MLS) $185,000 MRIS
• 2007-07-03 Delisted — MRIS
• 2007-03-23 Listed $195,000 MRIS
• 2005-02-03 Sold (Public Records) $50,000 Public Records
• 1998-08-02 Delisted — MRIS
• 1997-01-23 Delisted — MRIS
• 1996-07-23 Listed — MRIS
• 1996-07-23 Listed — MRIS
• 1996-07-22 Delisted — MRIS
• 1996-05-01 Listed — MRIS
• 1987-03-31 Sold (Public Records) $18,000 Public Records

Property tax history

-3.8%/yr

Latest (2025): $1,589 · +1.1% YoY. Source: county tax records.