6317 Park Heights Ave #521 · Baltimore, MD 21215

$95,000

2 bd · 2.0 ba · 1,510 sqft · Condo public records · 41 Days on market

Built 1976 $63/sqft · 24% below area Est $125k · 24% under $565/mo HOA · 31% of rent

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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 +25.1/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +8.2/10.0
• Livability +3.8/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this two bedroom, two bathroom fifth-floor condo in The Elmont. Awaiting your personal touches, this unit offers great potential to make it your own. A spacious open-concept living and dining area provides plenty of room for everyday living and entertaining, with sliding glass doors leading to a screened balcony. The kitchen includes a breakfast bar, ample cabinetry, and a pantry for added storage. The primary bedroom features a walk-in closet and a private bathroom with a walk-in shower. A second bedroom and full bathroom are located down the hall. Additional highlights include in-unit laundry, multiple closets including a large walk-in hall closet, a doorman in the lobby, elevators, and ample unassigned parking. Excellent location near Pikesville and Mt. Washington, just minutes from the Reisterstown Plaza Metro SubwayLink Station, I-695, I-83, and I-795.

Key facts

• $565 HOA
• Built 1976
• Listed 41 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $95k.

Deal economics

• At list price, monthly cash flow is $155 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $92k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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: 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.
• Zoned schools: Cross Country Elementary/Middle (math 6% / reading 18%, grade F, #550 of 860 statewide, top 66%, 649 students, 68% FRL); Baltimore Polytechnic Institute (math 71% / reading 84%, grade A-, #22 of 222 statewide, top 10%, 1,555 students, 43% FRL) — zoned schools average 55% FRL vs 79% district-wide (24 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 45% at this address vs 12% district-wide (+33 pts) — the actual schools serving this property are materially stronger than the Baltimore City Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+2.4%/yr); 355 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 42% of the median local income ($52k/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 $657 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.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; HOA is 31% of rent.
• Climate carrying-cost: major flood risk; moderate wind risk, 23% 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 $92,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 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 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.91% ✓
• Cap rate: 8.95%
• Cash-on-cash: 9.48%
• DSCR: 1.42
• GRM: 4.4

CMA / ARV

• ARV (median comp): $124,871
• List price: $95,000
• Delta: -23.92%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.41% rent growth · sell at horizon

5-year hold

• IRR: -6.3%
• Equity multiple: 0.77×
• Total profit: $-6,203
• Equity at exit: $14,165

10-year hold

• IRR: 2.5%
• Equity multiple: 1.17×
• Total profit: $4,607
• Equity at exit: $8,214

Cash invested: $26,600 (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 21215

• Rents YoY: 2.4%
• Active inventory: 355
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,817 high
• Mortgage (P&I): −$498
• Tax from tax record: −$123 /mo · $1,472/yr
• Insurance: −$40
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$565
• Vacancy / Maint / Mgmt: −$382
• Net cashflow: $155

Break-even live

Break-even rent $1,622

Max offer price $95,000

Occupancy floor 86%

Sensitivity live

Price	-10% $208	-5% $182	+0% $155	+5% $128	+10% $101
Rent	-10% $11	-5% $83	+0% $155	+5% $226	+10% $298
Rate	-1.0pp $203	-0.5pp $179	base $155	+0.5pp $130	+1.0pp $105

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3505 Clarks Ln Unit D2 Baltimore, MD	3.0	2.0	1750	$2,500	$1.43	46d	1	0.18mi
6317 Pearce Ave Baltimore, MD	2.0	2.0	1140	$1,600	$1.40	46d	1	0.21mi
3607 Labyrinth Rd Baltimore, MD	1.0–3.0	1.0–2.0	925	$1,600	$1.73	22d	5	0.35mi
3809 Clarks Ln Unit 301 Baltimore, MD	2.0	2.0	1057	$1,600	$1.51	26d	1	0.36mi
2900 Taney Rd Apt 1A Baltimore, MD	2.0	2.0	1200	$1,600	$1.33	26d	1	0.60mi
5807 Gist Ave Baltimore, MD	2.0	1.5	2100	$1,395	$0.66	26d	1	0.66mi
3912 Mortimer Ave Baltimore, MD	3.0	2.0	1204	$2,723	$2.26	46d	1	0.75mi
7220 Park Heights Ave Pikesville, MD	2.0	2.0	1050	$1,565	$1.49	5d	2	0.87mi
3700 Seven Mile Ln Pikesville, MD	1.0–2.0	1.0–2.0	1063	$1,720	$1.62	0d	11	0.87mi
6609 Eberle Dr Baltimore, MD	1.0–3.0	1.0–2.0	1011	$1,476	$1.46	0d	26	0.89mi
6310 Greenspring Ave Baltimore, MD	2.0–3.0	1.5–2.0	1080	$1,525	$1.41	5d	6	0.95mi
7307 Park Heights Ave Pikesville, MD	2.0	2.0–2.5	1251	$2,506	$2.00	4d	5	0.96mi
6936 Blanche Rd Baltimore, MD	3.0	1.5	1410	$1,800	$1.28	46d	1	0.99mi
5801 Western Run Dr Baltimore, MD	3.0	1.0–2.0	835	$1,771	$2.12	0d	8	1.11mi
5340 Maple Ave Baltimore, MD	2.0	1.0	1200	$1,950	$1.62	46d	1	1.13mi
7008 Deerfield Rd Pikesville, MD	3.0	1.5	1664	$2,300	$1.38	46d	1	1.15mi
19 Warren Park Dr Pikesville, MD	3.0	1.0–2.0	903	$1,467	$1.62	1d	12	1.33mi
6624 Chippewa Dr Baltimore, MD	3.0	1.5	1514	$2,400	$1.59	26d	1	1.37mi
515 Marshall Ave Pikesville, MD	3.0	2.0	1200	$2,750	$2.29	46d	1	1.44mi
5000 Litchfield Ave #1 Baltimore, MD	2.0	1.0	1100	$1,100	$1.00	46d	1	1.45mi

HOA detail condo

• Monthly dues: $565 · $6,780/yr
• Likely covers: doormanparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-13
   statusdays on market $95,000 Pending 41 DOM
2. 2026-06-09
   days on market $95,000 Active 40 DOM
3. 2026-06-08
   days on market $95,000 Active 39 DOM
4. 2026-06-07
   days on market $95,000 Active 38 DOM
5. 2026-06-04
   days on market $95,000 Active 35 DOM
6. 2026-06-03
   days on market $95,000 Active 34 DOM
7. 2026-06-02
   days on market $95,000 Active 33 DOM
8. 2026-06-01
   days on market $95,000 Active 32 DOM
9. 2026-05-31
   days on market $95,000 Active 31 DOM
10. 2026-04-30
    listed $100,000 Active 880-char remark

    Show marketing remark (880 chars)

    Welcome to this two bedroom, two bathroom fifth-floor condo in The Elmont. Awaiting your personal touches, this unit offers great potential to make it your own. A spacious open-concept living and dining area provides plenty of room for everyday living and entertaining, with sliding glass doors leading to a screened balcony. The kitchen includes a breakfast bar, ample cabinetry, and a pantry for added storage. The primary bedroom features a walk-in closet and a private bathroom with a walk-in shower. A second bedroom and full bathroom are located down the hall. Additional highlights include in-unit laundry, multiple closets including a large walk-in hall closet, a doorman in the lobby, elevators, and ample unassigned parking. Excellent location near Pikesville and Mt. Washington, just minutes from the Reisterstown Plaza Metro SubwayLink Station, I-695, I-83, and I-795.

11. 2026-04-10
    historical $100,000 880-char remark

    Show marketing remark (880 chars)

    Welcome to this two bedroom, two bathroom fifth-floor condo in The Elmont. Awaiting your personal touches, this unit offers great potential to make it your own. A spacious open-concept living and dining area provides plenty of room for everyday living and entertaining, with sliding glass doors leading to a screened balcony. The kitchen includes a breakfast bar, ample cabinetry, and a pantry for added storage. The primary bedroom features a walk-in closet and a private bathroom with a walk-in shower. A second bedroom and full bathroom are located down the hall. Additional highlights include in-unit laundry, multiple closets including a large walk-in hall closet, a doorman in the lobby, elevators, and ample unassigned parking. Excellent location near Pikesville and Mt. Washington, just minutes from the Reisterstown Plaza Metro SubwayLink Station, I-695, I-83, and I-795.

ⓘ 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: $1,472 · $123/mo
• Projected year-2 tax: $1,472 · $123/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 7/10 Severe FEMA zone X (unshaded) · 96% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 23% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,808
• − Mortgage interest: −$5,321
• − Property taxes: −$1,472
• − Insurance: −$1,142
• − Repairs & maintenance: −$1,745
• − Management: −$1,745
• − HOA: −$6,780
• − Depreciation: −$2,764
• Taxable income: $840
• Est. tax owed @ 24.0%: −$202
• After-tax cash flow: $1,655/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): 52,229
• Household income: $51,587
• Rent vs Own: 45.2% rent · 54.8% own
• Severe rent burden: 3644.0

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 (73%)
• Race & ethnicity: Black 73% White 17% Hispanic / Latino 5% Two or more races 4% Asian 1%
• Common ancestry: Scotch-Irish 2% Romanian 2% Italian 1%
• Foreign-born: 9% · Canada, South Korea
• Languages at home: 91% English-only · Spanish 4% French/Haitian/Cajun 1% 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: ▼ -318.58%
• Current HPI: 291.4926
• Rent YoY: ▲ 2.41%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-04-30 Listed $100,000 BRIGHT MLS
• 2026-04-10 Coming Soon $100,000 BRIGHT MLS

Property tax history

-4.0%/yr

Latest (2025): $1,472 · -1.8% YoY. Source: county tax records.