501 Baltic Ave · Baltimore, MD 21225

$219,999

3 bd · 2.5 ba · 1,294 sqft · MultiFamily public records · 10 Days on market

Built 1945

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Why this score? — see what drove the C- 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 +20.1/30.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• 1% rule +5.4/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Great opportunity!!! Townhouse on a corner lot. Fully occupied, two units with separate entrances. Unit One - Two bedroom apartment with a one year lease. Unit Two - One bedroom apartment with a long term month-to-month tenant.

Key facts

• End of group
• Major renovation
• Ideal for commuters

Tags

• FULLY TENANTED
• END OF GROUP
• VAST SPAN OF LAND SPACE
• MAJOR RENOVATION
• IDEAL FOR COMMUTERS
• EASY ACCESS TO HIGHWAYS

Property features AI

Finance

• Other: Ground rent paid annually
• Financial info: Property assessed values listed (excluded monetary details per instructions); No rent control

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Electric 120/240V service available; Natural gas available; Cable TV available; Phone service available
• Home design: Semi-detached property; Three total levels; Fee simple ownership; Estimated major remodel in 2025
• Construction: Brick construction; Other-type foundation; Roof condition unknown; Estimated year built
• Exterior features: Above-grade and below-grade structures; Public water and sewer available; Cable and phone available

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Refrigerator
• Bedrooms: One 1-bedroom unit; One 2-bedroom unit; One vacant unit
• Heating & cooling: Forced air heating (natural gas); Window cooling units (electric)
• Interior features: Brick and masonry walls with drywall finishes; Very good overall condition; Building winterized
• Laundry & utility: Washer; Dryer; 60+ gallon hot water tank (natural gas and electric options listed)

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath multifamily listed at $220k.

Deal economics

• At list price, monthly cash flow is $275 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $220k).
• Cap rate 7.8% 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 (+4.1%/yr); 165 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• At $2,280/mo this rent would consume 51% of the median local household income ($54k/yr) (locally 1440% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 6y 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 $165k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $219,999

Questions for the listing agent

1. Built in 1945 — 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 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: 1.04% ✓
• Cap rate: 7.79%
• Cash-on-cash: 5.36%
• DSCR: 1.24
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $134,576
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
500 Baltic Ave	0.02mi	2/— (-1)	1,284 (-1%)	1mo	$220,000	$171	92
3423 6th	0.09mi	2/— (-1)	1,294 (0%)	4mo	$135,000	$104	88
510 Arsan Ave	0.03mi	2/— (-1)	1,294 (0%)	11mo	$175,000	$135	84
613 Baltic Ave	0.13mi	2/— (-1)	1,294 (0%)	11mo	$105,000	$81	79
3609 Brooklyn Ave	0.38mi	4/— (+1)	1,400 (+8%)	2mo	$158,000	$113	61
4132 Audrey Ave	0.70mi	3/—	1,130 (-13%)	5mo	$150,000	$133	42
3800 Potee St	0.58mi	4/— (+1)	1,428 (+10%)	11mo	$116,900	$82	41
3804 Potee St	0.59mi	4/— (+1)	1,428 (+10%)	13mo	$64,900	$45	40
46 Talbott St	0.62mi	4/— (+1)	1,428 (+10%)	11mo	$118,000	$83	39
811 Stoll St	0.64mi	2/— (-1)	1,116 (-14%)	6mo	$135,000	$121	37
3804 Leadenhall St	0.67mi	4/— (+1)	1,428 (+10%)	11mo	$118,000	$83	37
3806 Leadenhall St	0.68mi	4/— (+1)	1,428 (+10%)	11mo	$118,000	$83	37

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 · 4.08% rent growth · sell at horizon

5-year hold

• IRR: -6.8%
• Equity multiple: 0.75×
• Total profit: $-15,582
• Equity at exit: $32,803

10-year hold

• IRR: 4.2%
• Equity multiple: 1.32×
• Total profit: $19,656
• Equity at exit: $19,021

Cash invested: $61,600 (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 21225

• Home prices YoY: -31.9%
• Rents YoY: 4.1%
• Active inventory: 165
• Price-to-rent: 15.7×

Monthly cashflow live

• Estimated rent: $2,280 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$281 /mo · $3,368/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$479
• Net cashflow: $275

Break-even live

Break-even rent $1,932

Max offer price $219,999

Occupancy floor 83%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,171
1× unit	1	1	$1,110
Total (2 units)			$2,280

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3528 6th St Brooklyn, MD	2.0	2.5	1060	$1,500	$1.42	17d	1	0.16mi
3513 Horton Ave Brooklyn, MD	3.0	1.0	1020	$1,600	$1.57	17d	1	0.18mi
3544 4th St Brooklyn, MD	4.0	2.5	1800	$1,940	$1.08	23d	1	0.20mi
3569 4th St Brooklyn, MD	2.0	1.5	1256	$1,200	$0.96	17d	1	0.23mi
507 Washburn Ave Brooklyn, MD	3.0	1.5	1024	$2,500	$2.44	23d	1	0.41mi
507 Washburn Ave Brooklyn, MD	3.0	1.5	1024	$2,500	$2.44	20d	1	0.41mi
507 Washburn Ave Brooklyn, MD	3.0	1.5	1024	$2,500	$2.44	4d	1	0.41mi
3822 6th St Brooklyn, MD	3.0	3.0	1580	$1,850	$1.17	23d	1	0.45mi
3840 8th St Brooklyn, MD	3.0	1.5	1088	$1,606	$1.48	4d	1	0.50mi
3826 10th St Unit Entire House Baltimore, MD	3.0	2.0	1110	$2,400	$2.16	23d	1	0.62mi
3828 10th St Brooklyn, MD	3.0	2.0	1215	$2,350	$1.93	43d	1	0.62mi
49 Talbott St Brooklyn, MD	2.0	1.0	1300	$1,300	$1.00	23d	1	0.65mi
3816 W Bay Ave Unit 1 Baltimore, MD	2.0	1.0	1364	$1,155	$0.85	3d	1	0.68mi
1305 E Patapsco Ave Brooklyn, MD	3.0	1.5	930	$1,650	$1.77	4d	1	0.73mi
4206 Audrey Ave Brooklyn, MD	3.0	3.0	1104	$1,950	$1.77	23d	1	0.73mi
4206 Audrey Ave Brooklyn, MD	2.0	2.0	1104	$1,275	$1.15	43d	1	0.73mi
4201 Audrey Ave Unit 1 Brooklyn, MD	2.0	1.0	1400	$1,350	$0.96	23d	1	0.74mi
4400 4th St Unit BASEMENT Baltimore, MD	2.0	1.0	925	$1,350	$1.46	43d	1	0.80mi
1353 Cambria St Brooklyn, MD	3.0	2.0	986	$1,600	$1.62	17d	1	0.80mi
202 W Edgevale Rd Unit A Baltimore, MD	3.0	1.0	1824	$1,650	$0.90	5d	1	0.82mi
217 W Edgevale Rd Brooklyn, MD	3.0	1.5	992	$1,800	$1.81	23d	1	0.87mi
1517 Sycamore St Curtis Bay, MD	3.0	1.5	1210	$1,999	$1.65	23d	1	0.94mi
130 Reedbird Ave Brooklyn, MD	2.0	1.0	1152	$1,700	$1.48	23d	1	0.98mi
303 Arden Rd W Brooklyn, MD	3.0	2.0	1388	$2,500	$1.80	17d	1	1.00mi
4216 Prudence St Curtis Bay, MD	4.0	3.0	1116	$2,100	$1.88	43d	1	1.06mi
5215 Wasena Ave Brooklyn, MD	3.0	1.0	1030	$1,650	$1.60	43d	1	1.09mi
732 Old Riverside Rd Brooklyn, MD	3.0	2.5	1570	$1,900	$1.21	43d	1	1.16mi
1411 Filbert St Unit 2 Baltimore, MD	2.0	1.0	1428	$1,300	$0.91	43d	1	1.19mi
607 Cheraton Rd Brooklyn, MD	3.0	3.0	1200	$1,750	$1.46	14d	1	1.40mi
2454 Terra Firma Rd Brooklyn, MD	3.0	1.0	1024	$1,650	$1.61	14d	1	1.48mi

Listing history 7 events

1. 2026-06-18
   days on market $219,999 Active 10 DOM
2. 2026-06-17
   days on market $219,999 Active 9 DOM
3. 2026-06-16
   days on market $219,999 Active 8 DOM
4. 2026-06-15
   days on market $219,999 Active 7 DOM
5. 2026-06-13
   days on market $219,999 Active 5 DOM
6. 2026-06-08
   remarks 699-char remark
7. 2026-06-08
   listed $219,999 Active 1 DOM

ⓘ 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: $3,368 · $281/mo
• Projected year-2 tax: $3,368 · $281/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 ≥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 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,360
• − Mortgage interest: −$12,323
• − Property taxes: −$3,368
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,189
• − Management: −$2,189
• − Depreciation: −$6,400
• Taxable loss: −$209
• Est. tax savings @ 24.0%: +$50
• After-tax cash flow: $3,352/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: Anne Arundel County · 535,653 people
• City population: 588,727
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 34,062
• Household income: $54,020
• Rent vs Own: 50.4% rent · 49.6% own
• Severe rent burden: 1440.0

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 0.68)
• Race & ethnicity: Black 42% White 32% Hispanic / Latino 20% Two or more races 8% Native American 3% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Romanian 2% Lithuanian 1% Iranian 1%
• Foreign-born: 12% · Canada, China
• Languages at home: 81% English-only · Spanish 16% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -119.44%
• Current HPI: 254.5089
• Rent YoY: ▲ 4.08%
• 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

+122.4% since first listed

17 events — show timeline

• 2026-06-08 Listed $219,999 BRIGHT MLS
• 2025-11-18 Listing Removed — BRIGHT MLS
• 2025-10-10 Listed $235,000 BRIGHT MLS
• 2025-10-03 Coming Soon — BRIGHT MLS
• 2022-10-28 Sold (Public Records) $165,000 Public Records
• 2022-08-02 Sold (MLS) $165,000 BRIGHT MLS
• 2022-06-10 Pending — BRIGHT MLS
• 2022-06-10 Pending — BRIGHT MLS
• 2022-06-10 Listing Removed — BRIGHT MLS
• 2022-06-06 Listed $165,000 BRIGHT MLS
• 2022-05-31 Listed $165,000 BRIGHT MLS
• 2020-12-31 Sold (MLS) $90,000 BRIGHT MLS
• 2020-09-18 Pending — BRIGHT MLS
• 2020-09-10 Price Changed $89,900 BRIGHT MLS
• 2020-08-05 Relisted — BRIGHT MLS
• 2020-08-04 Listing Removed — BRIGHT MLS
• 2020-08-03 Listed $98,900 BRIGHT MLS

Property tax history

+6.1%/yr

Latest (2025): $3,368 · +34.3% YoY. Source: county tax records.