1737 Homestead St · Baltimore, MD 21218

$80,000

3 bd · 1.0 ba · 1,080 sqft · Townhouse · 38 Days on market

Built 1940 1,330 sqft lot $74/sqft · 39% below area Est $131k · 39% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Prime investment opportunity in a desirable Baltimore location near Lake Montebello and Clifton Park Golf Course. Ideal for investors seeking a quick flip or a buy-and-hold with immediate rental income potential. Situated in a strong market with consistent demand and long-term upside. There is multiple projects happening in the area. 2 on the same street and several on neighboring streets. Not to mention Lake Clifton is officially under construction! Don’t miss your opportunity to invest in this rapidly evolving neighborhood.

Key facts

• Built 1940
• Listed 38 days

Property features AI

Finance

• Financial info: Ground rent $96 annually

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Electric hot water
• Home design: Interior townhouse/rowhouse; Brick front
• Construction: Concrete perimeter foundation and slab; Above-grade structure
• Exterior features: Not in a federal flood zone; Ground rent exists (paid annually)

Interior

• Bedrooms: 3 bedrooms on main level
• Bathrooms: 1 full bathroom on main level; 1 full bathroom total
• Heating & cooling: Space heater; Window air conditioning units
• Interior features: Estimated living area; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $80k.

Deal economics

• At list price, monthly cash flow is $832 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.
• Cap rate 18.8% 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 (+1.6%/yr); 325 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 34% of the median local income ($62k/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 $553 of loan paydown is wiped out by about $2k 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 + 1.6% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $49k; list at $80k implies a 64% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — 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 $77,600 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 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 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 2.19% ✓
• Cap rate: 18.77%
• Cash-on-cash: 44.57%
• DSCR: 2.98
• GRM: 3.8

CMA / ARV

• ARV (median comp): $130,748
• List price: $80,000
• Delta: -31.17%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1652 Darley Ave	0.35mi	3/1.0	1,100 (+2%)	0mo	$52,500	$48	80
1658 E 25th St	0.25mi	3/1.0	1,040 (-4%)	4mo	$70,000	$67	79
1601 E 28th St	0.28mi	3/2.0	1,100 (+2%)	3mo	$120,000	$109	77
728 Bartlett Ave	0.67mi	3/1.0	1,100 (+2%)	2mo	$40,000	$36	64
2559 Garrett Ave	0.19mi	3/3.0	1,202 (+11%)	2mo	$205,000	$171	62
1822 Aiken St	0.70mi	3/1.0	1,050 (-3%)	3mo	$49,000	$47	61
1017 Darley Ave	0.38mi	3/1.5	1,200 (+11%)	6mo	$175,000	$146	57
2030 E Lafayette Ave	0.65mi	2/2.5 (-1)	1,100 (+2%)	5mo	$182,000	$165	51
1722 E Lanvale St	0.69mi	3/1.0	1,200 (+11%)	0mo	$125,000	$104	49
3103 Independence St	0.58mi	2/1.0 (-1)	930 (-14%)	5mo	$145,000	$156	41
1626 N Wolfe St	0.74mi	2/1.0 (-1)	1,200 (+11%)	6mo	$45,000	$38	37
1234 E Lafayette Ave E	0.74mi	3/2.5	1,225 (+13%)	2mo	$219,000	$179	36

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 · 1.63% rent growth · sell at horizon

5-year hold

• IRR: 40.0%
• Equity multiple: 2.68×
• Total profit: $37,668
• Equity at exit: $11,928

10-year hold

• IRR: 45.7%
• Equity multiple: 5.09×
• Total profit: $91,629
• Equity at exit: $6,917

Cash invested: $22,400 (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 21218

• Rents YoY: 1.6%
• Active inventory: 325
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,750 high
• Mortgage (P&I): −$420
• Tax from tax record: −$98 /mo · $1,177/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $832

Break-even live

Break-even rent $697

Max offer price $80,000

Occupancy floor 47%

Sensitivity live

Price	-10% $877	-5% $855	+0% $832	+5% $809	+10% $787
Rent	-10% $694	-5% $763	+0% $832	+5% $901	+10% $970
Rate	-1.0pp $872	-0.5pp $852	base $832	+0.5pp $811	+1.0pp $790

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2606 Cecil Ave Baltimore, MD	2.0	1.5	1200	$1,500	$1.25	44d	1	0.25mi
1519 E 28th St Baltimore, MD	3.0	2.0	1100	$1,350	$1.23	44d	1	0.26mi
1802 E 28th St Baltimore, MD	3.0	1.0	1300	$1,600	$1.23	24d	1	0.34mi
1607 Cliftview Ave Baltimore, MD	3.0	1.0	1200	$1,475	$1.23	44d	1	0.35mi
1832 E 28th St Baltimore, MD	3.0	1.0	1066	$1,495	$1.40	24d	1	0.36mi
2310 Aisquith St Baltimore, MD	4.0	3.0	900	$2,000	$2.22	5d	1	0.41mi
1702 E 32nd St Baltimore, MD	3.0	2.0	1344	$2,300	$1.71	44d	1	0.49mi
3221 The Alameda Unit 2 Baltimore, MD	2.0	1.0	750	$1,200	$1.60	24d	1	0.54mi
936 Montpelier St Baltimore, MD	2.0	1.0	1260	$1,450	$1.15	24d	1	0.62mi
1814 E Lafayette Ave Baltimore, MD	4.0	2.0	1200	$1,995	$1.66	24d	1	0.63mi
1803 N Dallas St Baltimore, MD	2.0	2.5	1250	$2,100	$1.68	24d	1	0.65mi
1514 E Lafayette Ave Baltimore, MD	3.0	1.5	1215	$2,000	$1.65	24d	1	0.67mi
1512 E Lafayette Ave Baltimore, MD	3.0	2.5	1476	$1,950	$1.32	44d	1	0.67mi
1627 Rutland Ave Unit 1 Baltimore, MD	3.0	2.0	1200	$2,350	$1.96	44d	1	0.73mi
1627 Rutland Ave Baltimore, MD	3.0	2.0	1100	$1,950	$1.77	24d	1	0.73mi
2821 Mathews St Unit 27-668 Baltimore, MD	2.0	1.0	730	$1,050	$1.44	24d	1	0.74mi
646 Cokesbury Ave Baltimore, MD	2.0	1.5	1200	$1,299	$1.08	44d	1	0.76mi
519 E 28th St Baltimore, MD	3.0	2.0	1500	$2,000	$1.33	5d	1	0.76mi
3012 Mathews St Baltimore, MD	2.0	1.0	996	$1,100	$1.10	18d	1	0.78mi
3026 Mathews St Baltimore, MD	2.0	1.0	996	$1,350	$1.36	15d	1	0.79mi
2311 E Lafayette Ave Baltimore, MD	3.0	1.0	1000	$1,400	$1.40	44d	1	0.79mi
1040 E 33rd St Baltimore, MD	1.0–2.0	1.0–2.0	775	$1,525	$1.97	3d	10	0.81mi
1502 Fernley Rd Baltimore, MD	3.0	2.0	1350	$2,800	$2.07	44d	1	0.82mi
2113 Belair Rd Baltimore, MD	3.0	1.0	1344	$1,795	$1.34	44d	1	0.82mi
2535 Greenmount Ave Unit 2 Baltimore, MD	2.0	1.0	800	$1,195	$1.49	44d	1	0.82mi
1243 E Lanvale St Baltimore, MD	3.0	1.5	1281	$1,750	$1.37	17d	1	0.83mi
1243 E Lanvale St Baltimore, MD	3.0	1.5	1281	$1,750	$1.37	3d	1	0.83mi
450 E Lorraine Ave Baltimore, MD	3.0	1.0	1344	$1,695	$1.26	44d	1	0.84mi
616 Montpelier St Baltimore, MD	3.0	1.0	1150	$1,750	$1.52	11d	1	0.85mi
428 E Lorraine Ave Baltimore, MD	3.0	2.0	1344	$1,875	$1.40	24d	1	0.87mi
428 E Lorraine Ave Unit 1 Baltimore, MD	3.0	1.5	1344	$1,875	$1.40	44d	1	0.87mi
3213 Elmley Ave Baltimore, MD	2.0	1.0	1188	$1,395	$1.17	44d	1	0.88mi
436 Ilchester Ave Unit 1 Baltimore, MD	2.0	2.0	1002	$1,350	$1.35	44d	1	0.89mi
411 E Lorraine Ave Baltimore, MD	3.0	1.5	1344	$2,200	$1.64	24d	1	0.90mi
3218 Lyndale Ave Baltimore, MD	3.0	1.5	1020	$1,500	$1.47	24d	1	0.90mi
3222 Lyndale Ave Unit 1 Baltimore, MD	3.0	1.5	1500	$2,200	$1.47	13d	1	0.91mi
3221 Lyndale Ave Baltimore, MD	2.0	2.0	1020	$1,700	$1.67	24d	1	0.91mi
400 E Lorraine Ave Baltimore, MD	3.0	1.0	1500	$1,800	$1.20	21d	1	0.91mi
402 E 28th St Baltimore, MD	3.0	1.0	1436	$2,200	$1.53	44d	1	0.92mi
2410 E Federal St Baltimore, MD	4.0	2.0	720	$2,200	$3.06	24d	1	0.92mi

Listing history 9 events

1. 2026-06-18
   days on market $80,000 Active 38 DOM
2. 2026-06-17
   pricedays on market $80,000 Active 37 DOM
3. 2026-06-04
   days on market $90,000 Active 35 DOM
4. 2026-06-03
   days on market $90,000 Active 34 DOM
5. 2026-06-02
   days on market $90,000 Active 33 DOM
6. 2026-06-01
   days on market $90,000 Active 32 DOM
7. 2026-05-31
   days on market $90,000 Active 31 DOM
8. 2026-05-01
   listed $90,000 Active 538-char remark
9. 1998-08-21
   soldstatus $48,900

ⓘ 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: $1,177 · $98/mo
• Projected year-2 tax: $1,177 · $98/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 ≥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: $21,006
• − Mortgage interest: −$4,481
• − Property taxes: −$1,177
• − Insurance: −$400
• − Repairs & maintenance: −$1,680
• − Management: −$1,680
• − Depreciation: −$2,327
• Taxable income: $9,259
• Est. tax owed @ 24.0%: −$2,222
• After-tax cash flow: $7,761/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): 44,014
• Household income: $62,488
• Rent vs Own: 51.9% rent · 48.1% own
• Severe rent burden: 2564.0

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 0.58)
• Race & ethnicity: Black 60% White 26% Two or more races 6% Hispanic / Latino 5% Asian 5%
• Common ancestry: Romanian 2% Italian 1% Scotch-Irish 1%
• Foreign-born: 10% · Canada, China, South Korea
• Languages at home: 87% English-only · Spanish 4% French/Haitian/Cajun 2% Chinese 2%

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: ▼ -463.14%
• Current HPI: 292.3986
• Rent YoY: ▲ 1.63%
• 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

+63.6% since first listed

5 events — show timeline

• 2026-06-17 Price Changed $80,000 BRIGHT MLS
• 2026-06-17 Relisted — BRIGHT MLS
• 2026-06-06 Listing Removed — BRIGHT MLS
• 2026-05-01 Listed $90,000 BRIGHT MLS
• 1998-08-21 Sold (Public Records) $48,900 Public Records

Property tax history

+3.5%/yr

Latest (2025): $1,177 · +15.4% YoY. Source: county tax records.