2323 Sidney Ave · Baltimore, MD 21230

$140,000

2 bd · 1.0 ba · 1,120 sqft · Townhouse public records · 139 Days on market

Built 1920 $125/sqft · 120% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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 MLS

Check buyer eligibility requirements in the disclosures. Welcome to 2323 Sidney Avenue, Baltimore, MD 21230! This beautifully renovated 2BR, 1.5 BA home offers 1,120 square feet of above-grade finished living space and blends modern updates with everyday comfort in a wonderfully convenient location. Step inside to discover freshly painted interiors and an abundance of natural light that fills the home, creating a warm and inviting atmosphere throughout. The main living areas flow seamlessly, making the space perfect for both relaxing evenings and entertaining guests. The heart of the home features a modern kitchen equipped with stainless steel appliances, offering both style and functionality for daily living and hosting. Downstairs, the partially finished lower level is a perfect bonus space which can serve as a den, guest suite, office space, or a workout area. Situated close to schools, shopping, dining, and popular Baltimore destinations, this home also offers convenient access to major highways, making commuting and city living a breeze. With its new renovations, thoughtful updates, and prime location, 2323 Sidney Avenue is move-in ready and perfectly suited for buyers looking for comfort, convenience, and value. Don’t miss the opportunity to make this stunning home your own.

Key facts

• Renovated
• Convenient access
• Bonus space

Tags

• RENOVATED
• MODERN KITCHEN
• STAINLESS STEEL APPLIANCES
• PARTIALLY FINISHED LOWER LEVEL
• BONUS SPACE
• CONVENIENT ACCESS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $140k.

Deal economics

• At list price, monthly cash flow is $790 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $123k (12.0% 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 soft (-1.0%/yr); 362 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $968 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 $39k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 139 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 16y 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 $50k; list at $140k implies a 180% gain — meaningful room to come down on a strong offer.

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 $123,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 139 days. Have you received any prior offers? Is the seller open to a 12% 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: 1.54% ✓
• Cap rate: 13.06%
• Cash-on-cash: 24.18%
• DSCR: 2.08
• GRM: 5.4

CMA / ARV

• ARV (median comp): $63,620
• List price: $140,000
• Delta: 120.06%
• 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
2318 Sidney Ave	0.03mi	3/1.0 (+1)	1,120 (0%)	2mo	$72,500	$65	92
2316 Cedley St	0.02mi	3/2.0 (+1)	1,144 (+2%)	4mo	$140,000	$122	83
2405 Westport St	0.17mi	2/2.0	1,200 (+7%)	0mo	$75,000	$63	76
2113 Sidney Ave	0.17mi	3/1.0 (+1)	1,260 (+12%)	2mo	$72,500	$58	65
2521 S Paca St	0.65mi	3/1.5 (+1)	1,152 (+3%)	1mo	$30,000	$26	57
2630 Alaska St	0.32mi	3/1.5 (+1)	1,008 (-10%)	7mo	$85,000	$84	55
2625 Waterview Ave	0.35mi	3/1.0 (+1)	1,260 (+12%)	6mo	$94,200	$75	53
2619 Northshire Dr	0.65mi	3/1.0 (+1)	1,024 (-9%)	2mo	$145,000	$142	48
2628 Northshire Dr	0.66mi	3/1.0 (+1)	1,024 (-9%)	4mo	$175,000	$171	47
2639 Northshire Dr	0.64mi	3/2.0 (+1)	1,024 (-9%)	5mo	$120,000	$117	43
2620 Northshire Dr	0.67mi	3/1.0 (+1)	1,024 (-9%)	8mo	$110,000	$107	43
2839 Hinsdale Dr	0.75mi	3/1.0 (+1)	1,024 (-9%)	4mo	$152,000	$148	42

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: 14.1%
• Equity multiple: 1.54×
• Total profit: $21,295
• Equity at exit: $20,874

10-year hold

• IRR: 20.6%
• Equity multiple: 2.50×
• Total profit: $58,897
• Equity at exit: $12,105

Cash invested: $39,200 (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: 5.4×

Monthly cashflow live

• Estimated rent: $2,155 high
• Mortgage (P&I): −$734
• Tax from tax record: −$120 /mo · $1,444/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$453
• Net cashflow: $790

Break-even live

Break-even rent $1,155

Max offer price $140,000

Occupancy floor 58%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2454 Terra Firma Rd Brooklyn, MD	3.0	1.0	1024	$1,650	$1.61	14d	1	0.83mi
607 Cheraton Rd Brooklyn, MD	3.0	3.0	1200	$1,750	$1.46	14d	1	0.88mi
2056 Griffis Ave Baltimore, MD	3.0	1.5	1230	$1,495	$1.22	21d	1	0.89mi
1931 Griffis Ave Baltimore, MD	2.0	1.0	912	$1,349	$1.48	4d	1	1.00mi
2200 W Patapsco Ave Baltimore, MD	3.0	1.0	890	$1,569	$1.76	43d	1	1.01mi
2868 Potee St Baltimore, MD	1.0–3.0	1.0	720	$1,392	$1.93	2d	22	1.03mi
2745 Round Rd Brooklyn, MD	2.0	2.0	756	$1,800	$2.38	43d	1	1.03mi
1900 S Hanover St Baltimore, MD	3.0	1.0–2.0	875	$3,119	$3.56	1d	66	1.05mi
2429 Washington Blvd Baltimore, MD	1.0	1.0	940	$600	$0.64	23d	1	1.05mi
111 W Heath St Baltimore, MD	2.0	1.0–2.5	1263	$2,850	$2.26	3d	7	1.05mi
2500 Insulator Dr Baltimore, MD	3.0	1.0–2.0	988	$3,816	$3.86	2d	152	1.05mi
3004 Elizabeth Ave Unit 1 Baltimore, MD	3.0	1.0	1024	$1,395	$1.36	4d	1	1.08mi
1746 S Hanover St Baltimore, MD	3.0	2.0	1490	$2,700	$1.81	10d	1	1.09mi
1718 S Hanover St Baltimore, MD	2.0	2.5	1296	$2,700	$2.08	23d	1	1.10mi
3017 Janice Ave Baltimore, MD	3.0	1.0	1024	$1,995	$1.95	23d	1	1.11mi
1839 S Charles St Baltimore, MD	3.0	2.5	1238	$2,600	$2.10	43d	1	1.14mi
1516 Clarkson St Baltimore, MD	2.0	1.5	1050	$1,795	$1.71	23d	1	1.14mi
1432 Carroll St Baltimore, MD	2.0	1.5	912	$1,900	$2.08	43d	1	1.14mi
1608 S Hanover St Baltimore, MD	3.0	3.5	1346	$3,000	$2.23	17d	1	1.14mi
1815 S Charles St Baltimore, MD	2.0	2.0	1208	$2,100	$1.74	43d	1	1.15mi
1601 S Hanover St Apt 1R Baltimore, MD	2.0	1.0	900	$1,600	$1.78	2d	1	1.17mi
1403 Race St Baltimore, MD	3.0	3.0	1008	$2,200	$2.18	43d	1	1.17mi
1942 Light St Baltimore, MD	2.0	2.5	1150	$2,200	$1.91	21d	1	1.17mi
2600 W Patapsco Ave Baltimore, MD	1.0–2.0	1.0	856	$1,309	$1.53	2d	24	1.18mi
1631 S Charles St Baltimore, MD	2.0	3.0	1460	$2,607	$1.79	4d	1	1.19mi
126 Burnett St Baltimore, MD	2.0	2.5	984	$2,200	$2.24	23d	1	1.21mi
1125 Wicomico St Baltimore, MD	3.0	3.0	1068	$1,955	$1.83	23d	1	1.22mi
1108 Sterrett St Baltimore, MD	2.0	1.0	1400	$2,300	$1.64	23d	1	1.22mi
8 E Randall St Baltimore, MD	2.0	2.5	1148	$2,600	$2.26	4d	1	1.24mi
1710 Marshall St Baltimore, MD	2.0	1.0	1110	$2,500	$2.25	43d	1	1.24mi
1205 Cleveland St Baltimore, MD	2.0	2.0	1232	$1,900	$1.54	43d	1	1.25mi
1503 S Charles St Unit 2 Baltimore, MD	2.0	2.0	1100	$2,375	$2.16	43d	1	1.26mi
49 E Heath St Baltimore, MD	2.0	1.5	858	$1,800	$2.10	11d	1	1.26mi
1312 S Hanover St Apt 3 Baltimore, MD	2.0	1.0	750	$2,200	$2.93	43d	1	1.26mi
511 Seagull Ave Brooklyn, MD	2.0	1.0	756	$1,550	$2.05	23d	1	1.26mi
1807 Westphal Pl Baltimore, MD	2.0	2.5	1378	$2,500	$1.81	4d	1	1.27mi
130 Reedbird Ave Brooklyn, MD	2.0	1.0	1152	$1,700	$1.48	23d	1	1.27mi
1702 Light St Unit 302 Baltimore, MD	2.0	2.0	735	$2,300	$3.13	17d	1	1.28mi
101 W Cross St Baltimore, MD	2.0	1.0–2.0	937	$3,332	$3.55	1d	23	1.30mi
1259 Washington Blvd Baltimore, MD	3.0	3.0	1232	$2,999	$2.43	4d	1	1.30mi

Listing history 25 events

1. 2026-06-18
   days on market $140,000 Active 139 DOM
2. 2026-06-17
   days on market $140,000 Active 138 DOM
3. 2026-06-16
   days on market $140,000 Active 137 DOM
4. 2026-06-15
   days on market $140,000 Active 136 DOM
5. 2026-06-13
   days on market $140,000 Active 134 DOM
6. 2026-06-09
   days on market $140,000 Active 130 DOM
7. 2026-06-08
   days on market $140,000 Active 129 DOM
8. 2026-06-07
   days on market $140,000 Active 128 DOM
9. 2026-06-04
   days on market $140,000 Active 125 DOM
10. 2026-06-03
    days on market $140,000 Active 124 DOM
11. 2026-06-02
    days on market $140,000 Active 123 DOM
12. 2026-06-01
    days on market $140,000 Active 122 DOM
13. 2026-05-31
    days on market $140,000 Active 121 DOM
14. 2026-01-30
    listed $140,000 Active 1308-char remark

    Show marketing remark (1308 chars)

    Check buyer eligibility requirements in the disclosures. Welcome to 2323 Sidney Avenue, Baltimore, MD 21230! This beautifully renovated 2BR, 1.5 BA home offers 1,120 square feet of above-grade finished living space and blends modern updates with everyday comfort in a wonderfully convenient location. Step inside to discover freshly painted interiors and an abundance of natural light that fills the home, creating a warm and inviting atmosphere throughout. The main living areas flow seamlessly, making the space perfect for both relaxing evenings and entertaining guests. The heart of the home features a modern kitchen equipped with stainless steel appliances, offering both style and functionality for daily living and hosting. Downstairs, the partially finished lower level is a perfect bonus space which can serve as a den, guest suite, office space, or a workout area. Situated close to schools, shopping, dining, and popular Baltimore destinations, this home also offers convenient access to major highways, making commuting and city living a breeze. With its new renovations, thoughtful updates, and prime location, 2323 Sidney Avenue is move-in ready and perfectly suited for buyers looking for comfort, convenience, and value. Don’t miss the opportunity to make this stunning home your own.

15. 2024-09-19
    soldstatus $50,000
16. 2016-11-15
    soldstatus $44,000 134-char remark

    Show marketing remark (134 chars)

    Here is a great opportunity to get in the ground floor on an up and coming area. 2326 Sidney and 2235 Annapolis rd are also available.

17. 2016-11-15
    soldstatus $44,000 Sold

    Show marketing remark (134 chars)

    Here is a great opportunity to get in the ground floor on an up and coming area. 2326 Sidney and 2235 Annapolis rd are also available.

18. 2016-09-08
    status Contract
19. 2016-06-28
    listed $49,900 Active
20. 2010-08-19
    historical
21. 2010-08-19
    historical
22. 2010-02-03
    listed Active
23. 2010-02-03
    listed $78,500
24. 2005-09-21
    soldstatus $52,000
25. 2004-06-23
    soldstatus $53,000

ⓘ 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: $1,444 · $120/mo
• Projected year-2 tax: $1,485 · $124/mo
• Expected delta: +$41/yr (+$3/mo · 2.8%)

ⓘ 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 ≥102°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: $25,861
• − Mortgage interest: −$7,842
• − Property taxes: −$1,444
• − Insurance: −$700
• − Repairs & maintenance: −$2,069
• − Management: −$2,069
• − Depreciation: −$4,073
• Taxable income: $7,665
• Est. tax owed @ 24.0%: −$1,840
• After-tax cash flow: $7,637/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

+164.2% since first listed

12 events — show timeline

• 2026-01-30 Listed $140,000 BRIGHT MLS
• 2024-09-19 Sold (Public Records) $50,000 Public Records
• 2016-11-15 Sold (MLS) $44,000 MRIS
• 2016-11-15 Sold (MLS) $44,000 BRIGHT MLS
• 2016-09-08 Pending — MRIS
• 2016-06-28 Listed $49,900 MRIS
• 2010-08-19 Delisted — MRIS
• 2010-08-19 Listing Removed — BRIGHT MLS
• 2010-02-03 Listed — MRIS
• 2010-02-03 Listed $78,500 BRIGHT MLS
• 2005-09-21 Sold (Public Records) $52,000 Public Records
• 2004-06-23 Sold (Public Records) $53,000 Public Records

Property tax history

+2.8%/yr

Latest (2025): $1,444 · +16.6% YoY. Source: county tax records.