2805 Sunset Dr · Baltimore, MD 21223

$93,000

2 bd · 1.0 ba · 1,040 sqft · Townhouse public records · 113 Days on market

Built 1920 $89/sqft · at area comps Est $93k · at est.

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.7/15.0
• Rent growth +4.4/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Very well maintained 2 Bedroom, 1 bath home. Ideal for first time homeowner or investor. Property has rental certification in place and is ready to go. New Roof installed in 2023, large living room, large dining room, updated bathroom, updated kitchen with table space, gas appliances, unfinished basement and a lot of potential.

Key facts

• Unfinished basement
• Updated kitchen
• New roof

Tags

• NEW ROOF
• UPDATED BATHROOM
• UPDATED KITCHEN
• UNFINISHED BASEMENT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $93k.

Deal economics

• At list price, monthly cash flow is $527 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $93k).
• Recommended offer: $85k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.1% 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 (+7.5%/yr); 422 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; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• This rent runs 40% of the median local income ($46k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $643 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 + 7.5% rent growth), your $26k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 15y ago; this cycle's ask has dropped $22k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; 24% 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 $84,630 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
8. 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.
9. 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: 1.62% ✓
• Cap rate: 13.10%
• Cash-on-cash: 24.31%
• DSCR: 2.08
• GRM: 5.1

CMA / ARV

• ARV (median comp): $93,372
• List price: $93,000
• Delta: -0.40%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1052 Parksley Ave	0.29mi	2/1.0	1,050 (+1%)	4mo	$110,000	$105	82
2402 Wilkens Ave	0.55mi	2/1.0	1,092 (+5%)	0mo	$45,000	$41	66
2637 Dulany St	0.35mi	3/1.0 (+1)	972 (-6%)	6mo	$35,000	$36	63
3396 Dulany St	0.64mi	2/1.5	1,080 (+4%)	0mo	$177,523	$164	62
3367 Dulany St	0.59mi	3/1.5 (+1)	1,054 (+1%)	7mo	$166,000	$157	58
3140 Strickland St	0.33mi	2/1.0	904 (-13%)	6mo	$103,000	$114	58
2642 Wilkens Ave	0.33mi	2/1.5	1,174 (+13%)	4mo	$51,000	$43	57
2408 Wilkens Ave	0.54mi	3/2.0 (+1)	1,092 (+5%)	2mo	$99,900	$91	56
3386 Dulany St	0.62mi	3/2.0 (+1)	1,014 (-2%)	6mo	$169,000	$167	53
419 Furrow St	0.73mi	3/1.0 (+1)	980 (-6%)	6mo	$41,000	$42	46
10 Rosedale St	0.70mi	3/1.5 (+1)	1,160 (+12%)	6mo	$83,000	$72	36
420 S Smallwood St	0.74mi	3/3.5 (+1)	910 (-12%)	4mo	$100,000	$110	26

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 · 7.51% rent growth · sell at horizon

5-year hold

• IRR: 22.7%
• Equity multiple: 1.99×
• Total profit: $25,722
• Equity at exit: $13,867

10-year hold

• IRR: 33.6%
• Equity multiple: 4.77×
• Total profit: $98,072
• Equity at exit: $8,041

Cash invested: $26,040 (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 21223

• Rents YoY: 7.5%
• Active inventory: 422
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,510 high
• Mortgage (P&I): −$488
• Tax from tax record: −$139 /mo · $1,669/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $527

Break-even live

Break-even rent $842

Max offer price $93,000

Occupancy floor 60%

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: $23,250
• Closing costs: $2,790
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2737 Wilkens Ave Baltimore, MD	3.0	1.5	1232	$1,650	$1.34	4d	1	0.18mi
2738 Wilkens Ave Baltimore, MD	3.0	1.0	1183	$1,500	$1.27	44d	1	0.18mi
2671 Saint Benedict St Baltimore, MD	2.0	1.0	1144	$1,325	$1.16	44d	1	0.30mi
2657 Lehman St Unit 1 Baltimore, MD	2.0	1.0	1056	$1,000	$0.95	44d	1	0.32mi
3130 Stafford St Baltimore, MD	3.0	1.0	1200	$1,500	$1.25	20d	1	0.37mi
332 S Franklintown Rd Unit 2 Baltimore, MD	2.0	1.0	776	$795	$1.02	24d	1	0.50mi
2540 Frederick Ave Baltimore, MD	3.0	1.0	1075	$1,400	$1.30	24d	1	0.53mi
3392 Saint Benedict St Baltimore, MD	2.0	1.0	864	$1,450	$1.68	24d	1	0.64mi
110 S Catherine St Unit 1 Baltimore, MD	2.0	1.0	1330	$1,500	$1.13	44d	1	0.67mi
2537 Hollins St Baltimore, MD	3.0	2.0	1200	$1,450	$1.21	24d	1	0.72mi
2516 Hollins St Baltimore, MD	3.0	2.0	1100	$1,700	$1.55	44d	1	0.76mi
307 S Smallwood St Baltimore, MD	2.0	2.5	1400	$1,350	$0.96	44d	1	0.80mi
3336 W Caton Ave Baltimore, MD	3.0	2.0	1236	$1,625	$1.31	24d	1	0.84mi
514 S Payson St Unit 2 Baltimore, MD	3.0	2.0	1264	$1,750	$1.38	44d	1	0.87mi
3310 Elbert St Baltimore, MD	2.0	1.0	920	$1,550	$1.68	24d	1	0.88mi
2429 Washington Blvd Baltimore, MD	1.0	1.0	940	$600	$0.64	24d	1	0.91mi
2225 W Baltimore St Baltimore, MD	3.0	2.5	1200	$1,600	$1.33	24d	1	0.94mi
1931 Griffis Ave Baltimore, MD	2.0	1.0	912	$1,349	$1.48	4d	1	0.95mi
2232 W Baltimore St Baltimore, MD	3.0	1.0	1250	$1,875	$1.50	24d	1	0.95mi
41 N Kossuth St Baltimore, MD	3.0	2.0	1216	$1,800	$1.48	24d	1	0.96mi
62 N Gorman Ave Baltimore, MD	3.0	2.0	1100	$2,500	$2.27	18d	1	0.97mi
2056 Griffis Ave Baltimore, MD	3.0	1.5	1230	$1,495	$1.22	22d	1	1.07mi
147 Denison St Baltimore, MD	1.0	1.0	1370	$1,100	$0.80	24d	1	1.09mi
212 S Loudon Ave Baltimore, MD	3.0	1.5	1310	$1,550	$1.18	44d	1	1.12mi
1918 W Baltimore St Baltimore, MD	2.0–3.0	1.0–2.0	857	$1,375	$1.60	44d	1	1.14mi
1912 W Baltimore St Unit 2 Baltimore, MD	2.0	1.5	1200	$2,100	$1.75	24d	1	1.15mi
304 Collins Ave Unit 1 Baltimore, MD	1.0	1.0	845	$1,600	$1.89	44d	1	1.15mi
304 Collins Ave Unit 2 Baltimore, MD	3.0	1.0	1016	$2,100	$2.07	44d	1	1.15mi
2609 Lauretta Ave Baltimore, MD	3.0	1.0	1286	$1,675	$1.30	24d	1	1.17mi
4018 Massachusetts Ave Baltimore, MD	3.0	1.0	1050	$1,400	$1.33	24d	1	1.17mi
3607 W Lexington St Baltimore, MD	3.0	2.0	1050	$1,895	$1.80	4d	1	1.18mi
2636 Lauretta Ave Baltimore, MD	3.0	2.5	1232	$1,900	$1.54	44d	1	1.18mi
1839 W Fayette St Baltimore, MD	3.0	1.5	1426	$1,675	$1.17	24d	1	1.22mi
3704 Coolidge Ave Baltimore, MD	2.0	1.0	1262	$2,000	$1.58	20d	1	1.27mi
2012 W Saratoga St Baltimore, MD	3.0	1.0	1300	$1,700	$1.31	24d	1	1.27mi
4301 Parkton St Baltimore, MD	1.0–3.0	1.0	730	$1,264	$1.73	44d	1	1.28mi
1635 Frederick Ave Baltimore, MD	3.0	2.0	1224	$1,850	$1.51	44d	1	1.28mi
3423 Edmondson Ave Baltimore, MD	2.0	1.5	1400	$1,710	$1.22	44d	1	1.32mi
1601 Frederick Ave Unit 3 Baltimore, MD	2.0	1.0	1050	$1,050	$1.00	4d	1	1.34mi
3015 Rayner Ave Baltimore, MD	3.0	1.0	1152	$1,350	$1.17	44d	1	1.35mi

Listing history 29 events

1. 2026-06-18
   days on market $93,000 Active 113 DOM
2. 2026-06-17
   days on market $93,000 Active 112 DOM
3. 2026-06-16
   days on market $93,000 Active 111 DOM
4. 2026-06-15
   days on market $93,000 Active 110 DOM
5. 2026-06-13
   days on market $93,000 Active 108 DOM
6. 2026-06-09
   days on market $93,000 Active 104 DOM
7. 2026-06-08
   days on market $93,000 Active 103 DOM
8. 2026-06-07
   days on market $93,000 Active 102 DOM
9. 2026-06-04
   days on market $93,000 Active 99 DOM
10. 2026-06-03
    days on market $93,000 Active 98 DOM
11. 2026-06-02
    days on market $93,000 Active 97 DOM
12. 2026-06-01
    days on market $93,000 Active 96 DOM
13. 2026-05-31
    days on market $93,000 Active 95 DOM
14. 2026-03-10
    price $93,000 330-char remark

    Show marketing remark (330 chars)

    Very well maintained 2 Bedroom, 1 bath home. Ideal for first time homeowner or investor. Property has rental certification in place and is ready to go. New Roof installed in 2023, large living room, large dining room, updated bathroom, updated kitchen with table space, gas appliances, unfinished basement and a lot of potential.

15. 2026-02-26
    listed $115,000 Active 330-char remark

    Show marketing remark (330 chars)

    Very well maintained 2 Bedroom, 1 bath home. Ideal for first time homeowner or investor. Property has rental certification in place and is ready to go. New Roof installed in 2023, large living room, large dining room, updated bathroom, updated kitchen with table space, gas appliances, unfinished basement and a lot of potential.

16. 2024-01-31
    soldstatus $75,000
17. 2023-10-03
    soldstatus $75,000 Closed 208-char remark

    Show marketing remark (208 chars)

    Very well maintained 2 Bedroom, 1 bath home that includes a new roof (2023), large living room, large dining room, updated kitchen with table space, gas appliances, unfinished basement and a lot of potential.

18. 2023-08-18
    historical 208-char remark

    Show marketing remark (208 chars)

    Very well maintained 2 Bedroom, 1 bath home that includes a new roof (2023), large living room, large dining room, updated kitchen with table space, gas appliances, unfinished basement and a lot of potential.

19. 2023-08-12
    status Active 208-char remark

    Show marketing remark (208 chars)

    Very well maintained 2 Bedroom, 1 bath home that includes a new roof (2023), large living room, large dining room, updated kitchen with table space, gas appliances, unfinished basement and a lot of potential.

20. 2023-08-03
    status Pending 208-char remark

    Show marketing remark (208 chars)

    Very well maintained 2 Bedroom, 1 bath home that includes a new roof (2023), large living room, large dining room, updated kitchen with table space, gas appliances, unfinished basement and a lot of potential.

21. 2023-08-01
    historical 208-char remark

    Show marketing remark (208 chars)

    Very well maintained 2 Bedroom, 1 bath home that includes a new roof (2023), large living room, large dining room, updated kitchen with table space, gas appliances, unfinished basement and a lot of potential.

22. 2023-08-01
    historical 208-char remark

    Show marketing remark (208 chars)

    Very well maintained 2 Bedroom, 1 bath home that includes a new roof (2023), large living room, large dining room, updated kitchen with table space, gas appliances, unfinished basement and a lot of potential.

23. 2023-07-26
    listed $75,000 Active 208-char remark

    Show marketing remark (208 chars)

    Very well maintained 2 Bedroom, 1 bath home that includes a new roof (2023), large living room, large dining room, updated kitchen with table space, gas appliances, unfinished basement and a lot of potential.

24. 2011-08-16
    historical Withdrawn
25. 2011-08-16
    historical
26. 2011-05-21
    price
27. 2011-05-15
    listed Active
28. 2011-05-15
    listed $50,000
29. 2002-09-20
    soldstatus $10,500

ⓘ 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: $1,669 · $139/mo
• Projected year-2 tax: $1,669 · $139/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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,121
• − Mortgage interest: −$5,209
• − Property taxes: −$1,669
• − Insurance: −$465
• − Repairs & maintenance: −$1,450
• − Management: −$1,450
• − Depreciation: −$2,705
• Taxable income: $5,173
• Est. tax owed @ 24.0%: −$1,241
• After-tax cash flow: $5,088/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): 19,572
• Household income: $45,840
• Rent vs Own: 68.0% rent · 32.0% own
• Severe rent burden: 1755.0

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 (72%)
• Race & ethnicity: Black 72% White 16% Hispanic / Latino 7% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Romanian 1%
• Foreign-born: 8% · Canada
• Languages at home: 90% English-only · Spanish 6% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -97.99%
• Current HPI: 140.5836
• Rent YoY: ▲ 7.51%
• 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

+785.7% since first listed

16 events — show timeline

• 2026-03-10 Price Changed $93,000 BRIGHT MLS
• 2026-02-26 Listed $115,000 BRIGHT MLS
• 2024-01-31 Sold (Public Records) $75,000 Public Records
• 2023-10-03 Sold (MLS) $75,000 BRIGHT MLS
• 2023-08-18 Listing Removed — BRIGHT MLS
• 2023-08-12 Relisted — BRIGHT MLS
• 2023-08-03 Pending — BRIGHT MLS
• 2023-08-01 Listing Removed — BRIGHT MLS
• 2023-08-01 Listing Removed — BRIGHT MLS
• 2023-07-26 Listed $75,000 BRIGHT MLS
• 2011-08-16 Delisted — MRIS
• 2011-08-16 Listing Removed — BRIGHT MLS
• 2011-05-21 Price Changed — MRIS
• 2011-05-15 Listed — MRIS
• 2011-05-15 Listed $50,000 BRIGHT MLS
• 2002-09-20 Sold (Public Records) $10,500 Public Records

Property tax history

+0.7%/yr

Latest (2025): $1,669 · +11.0% YoY. Source: county tax records.