15 S Tremont Rd · Baltimore, MD 21229

$225,000

5 bd · 2.0 ba · 1,350 sqft · Townhouse public records · 78 Days on market

Built 1945 1,800 sqft lot $167/sqft · at area comps Est $217k · at est.

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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 +21.9/30.0
• DSCR +7.0/10.0
• ARV discount +5.9/15.0
• 1% rule +5.5/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This recently updated 3-bedroom, 2-full-bath townhome offers a finished basement with a separate kitchen and one additional room, perfect for an in-law suite. Features include updated Luxury Vinyl Plank, fresh paint throughout (walls, ceilings, and trim), updated bathrooms, and new lighting throughout the house. The finished basement provides additional living space and flexibility. Bedrooms are generously sized with great natural light. A great opportunity for buyers looking for a move-in-ready home with recent updates.

Key facts

• Built 1945
• Listed 78 days

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath townhouse listed at $225k.

Deal economics

• At list price, monthly cash flow is $353 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $225k).
• Recommended offer: $212k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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 (+5.4%/yr); 252 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $2,365/mo this rent would consume 47% of the median local household income ($60k/yr) (locally 2776% 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.
• At projected returns (-3.0% appreciation + 5.4% rent growth), your $63k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 8y ago; this cycle's ask has dropped $25k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $70k; list at $225k implies a 221% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 24% 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 $211,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — 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: 1.05% ✓
• Cap rate: 8.17%
• Cash-on-cash: 6.72%
• DSCR: 1.30
• GRM: 7.9

CMA / ARV

• ARV (median comp): $217,473
• List price: $225,000
• Delta: 3.46%
• 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
4708 Frederick Ave	0.12mi	4/2.5 (-1)	1,476 (+9%)	4mo	$180,000	$122	68
4419 Pen Lucy Rd	0.38mi	4/2.0 (-1)	1,424 (+6%)	10mo	$230,000	$162	60
4400 Manorview Rd	0.38mi	4/2.0 (-1)	1,224 (-9%)	4mo	$240,000	$196	59
580 S Beechfield Ave	0.62mi	4/2.0 (-1)	1,386 (+3%)	8mo	$223,000	$161	55
4428 Manorview Rd	0.34mi	4/2.0 (-1)	1,224 (-9%)	14mo	$229,000	$187	52
638 Charraway Rd	0.64mi	4/2.0 (-1)	1,260 (-7%)	5mo	$236,000	$187	50
578 S Beechfield Ave	0.62mi	4/2.0 (-1)	1,260 (-7%)	7mo	$229,900	$182	49
4115 Massachusetts Ave	0.58mi	4/2.5 (-1)	1,416 (+5%)	13mo	$242,900	$172	47
428 S Augusta Ave	0.61mi	4/2.5 (-1)	1,500 (+11%)	3mo	$249,900	$167	44
4702 Vancouver Rd	0.64mi	4/2.0 (-1)	1,512 (+12%)	4mo	$225,000	$149	42
129 S Loudon Ave	0.69mi	4/2.5 (-1)	1,468 (+9%)	7mo	$224,000	$153	40
755 S Woodington Rd	0.67mi	4/1.5 (-1)	1,542 (+14%)	7mo	$185,000	$120	32

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 · 5.38% rent growth · sell at horizon

5-year hold

• IRR: -3.4%
• Equity multiple: 0.87×
• Total profit: $-8,187
• Equity at exit: $33,548

10-year hold

• IRR: 8.8%
• Equity multiple: 1.74×
• Total profit: $46,824
• Equity at exit: $19,454

Cash invested: $63,000 (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 21229

• Rents YoY: 5.4%
• Active inventory: 252
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,365 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$242 /mo · $2,903/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$497
• Net cashflow: $353

Break-even live

Break-even rent $1,918

Max offer price $225,000

Occupancy floor 80%

Sensitivity live

Price	-10% $480	-5% $416	+0% $353	+5% $289	+10% $225
Rent	-10% $166	-5% $259	+0% $353	+5% $446	+10% $540
Rate	-1.0pp $466	-0.5pp $410	base $353	+0.5pp $294	+1.0pp $235

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
114 S Rock Glen Rd Baltimore, MD	4.0	1.5	1160	$2,350	$2.03	13d	1	0.20mi
409 Normandy Ave Baltimore, MD	4.0	1.0	1640	$1,500	$0.91	24d	1	0.96mi
24 Laurence Brooke Rd Catonsville, MD	4.0	3.0	1440	$2,800	$1.94	13d	1	1.21mi
405 N Edgewood St Baltimore, MD	4.0	2.0	1408	$2,950	$2.10	5d	1	1.23mi
3507 Edmondson Ave Baltimore, MD	4.0	2.0	1428	$2,300	$1.61	44d	1	1.26mi
623 N Grantley St Baltimore, MD	4.0	2.0	1250	$2,000	$1.60	24d	1	1.27mi
4610 College Ave Baltimore, MD	4.0	2.0	1440	$2,200	$1.53	18d	1	1.30mi
21 Holland Hill Ct Catonsville, MD	4.0	1.5	1320	$2,200	$1.67	44d	1	1.31mi
730 Linnard St Unit 1 Baltimore, MD	4.0	1.0	1360	$1,750	$1.29	24d	1	1.36mi
3 Brucester Bridge Ct Catonsville, MD	4.0	2.5	1440	$2,700	$1.88	24d	1	1.38mi
945 Saint Agnes Ln Gwynn Oak, MD	4.0	2.0	1500	$1,985	$1.32	18d	1	1.48mi
5015 Wilkens Ave Catonsville, MD	4.0	2.0	1728	$2,600	$1.50	3d	1	1.49mi

Listing history 29 events

1. 2026-06-18
   days on market $225,000 Active 78 DOM
2. 2026-06-17
   days on market $225,000 Active 77 DOM
3. 2026-06-16
   days on market $225,000 Active 76 DOM
4. 2026-06-15
   days on market $225,000 Active 75 DOM
5. 2026-06-13
   days on market $225,000 Active 73 DOM
6. 2026-06-09
   days on market $225,000 Active 69 DOM
7. 2026-06-08
   days on market $225,000 Active 68 DOM
8. 2026-06-07
   days on market $225,000 Active 67 DOM
9. 2026-06-04
   days on market $225,000 Active 64 DOM
10. 2026-06-03
    days on market $225,000 Active 63 DOM
11. 2026-06-02
    days on market $225,000 Active 62 DOM
12. 2026-06-02
    remarks 577-char remark
13. 2026-06-01
    days on market $225,000 Active 61 DOM
14. 2026-05-31
    days on market $225,000 Active 60 DOM
15. 2026-05-16
    price $225,000 526-char remark

    Show marketing remark (526 chars)

    This recently updated 3-bedroom, 2-full-bath townhome offers a finished basement with a separate kitchen and one additional room, perfect for an in-law suite. Features include updated Luxury Vinyl Plank, fresh paint throughout (walls, ceilings, and trim), updated bathrooms, and new lighting throughout the house. The finished basement provides additional living space and flexibility. Bedrooms are generously sized with great natural light. A great opportunity for buyers looking for a move-in-ready home with recent updates.

16. 2026-05-16
    status Active 526-char remark

    Show marketing remark (526 chars)

    This recently updated 3-bedroom, 2-full-bath townhome offers a finished basement with a separate kitchen and one additional room, perfect for an in-law suite. Features include updated Luxury Vinyl Plank, fresh paint throughout (walls, ceilings, and trim), updated bathrooms, and new lighting throughout the house. The finished basement provides additional living space and flexibility. Bedrooms are generously sized with great natural light. A great opportunity for buyers looking for a move-in-ready home with recent updates.

17. 2026-05-12
    historical 526-char remark

    Show marketing remark (526 chars)

    This recently updated 3-bedroom, 2-full-bath townhome offers a finished basement with a separate kitchen and one additional room, perfect for an in-law suite. Features include updated Luxury Vinyl Plank, fresh paint throughout (walls, ceilings, and trim), updated bathrooms, and new lighting throughout the house. The finished basement provides additional living space and flexibility. Bedrooms are generously sized with great natural light. A great opportunity for buyers looking for a move-in-ready home with recent updates.

18. 2026-05-02
    price $235,000 526-char remark

    Show marketing remark (526 chars)

    This recently updated 3-bedroom, 2-full-bath townhome offers a finished basement with a separate kitchen and one additional room, perfect for an in-law suite. Features include updated Luxury Vinyl Plank, fresh paint throughout (walls, ceilings, and trim), updated bathrooms, and new lighting throughout the house. The finished basement provides additional living space and flexibility. Bedrooms are generously sized with great natural light. A great opportunity for buyers looking for a move-in-ready home with recent updates.

19. 2026-04-18
    price $239,900 526-char remark

    Show marketing remark (526 chars)

    This recently updated 3-bedroom, 2-full-bath townhome offers a finished basement with a separate kitchen and one additional room, perfect for an in-law suite. Features include updated Luxury Vinyl Plank, fresh paint throughout (walls, ceilings, and trim), updated bathrooms, and new lighting throughout the house. The finished basement provides additional living space and flexibility. Bedrooms are generously sized with great natural light. A great opportunity for buyers looking for a move-in-ready home with recent updates.

20. 2026-03-28
    listed $249,900 Active 526-char remark

    Show marketing remark (526 chars)

    This recently updated 3-bedroom, 2-full-bath townhome offers a finished basement with a separate kitchen and one additional room, perfect for an in-law suite. Features include updated Luxury Vinyl Plank, fresh paint throughout (walls, ceilings, and trim), updated bathrooms, and new lighting throughout the house. The finished basement provides additional living space and flexibility. Bedrooms are generously sized with great natural light. A great opportunity for buyers looking for a move-in-ready home with recent updates.

21. 2020-06-19
    soldstatus $70,000 Closed 345-char remark

    Show marketing remark (345 chars)

    Check out this solid porch front brick townhome in Tremont. Enjoy the spacious room sizes with wall to wall carpets and large windows. The full basement has a wood burning fireplace, a full bath and separate utility room. Located in a nice and quiet tree lined street and conveniently close to Saint Agnes Hospital and Westside Shopping Center.

22. 2020-06-01
    status Pending 345-char remark

    Show marketing remark (345 chars)

    Check out this solid porch front brick townhome in Tremont. Enjoy the spacious room sizes with wall to wall carpets and large windows. The full basement has a wood burning fireplace, a full bath and separate utility room. Located in a nice and quiet tree lined street and conveniently close to Saint Agnes Hospital and Westside Shopping Center.

23. 2020-03-21
    status Active 345-char remark

    Show marketing remark (345 chars)

    Check out this solid porch front brick townhome in Tremont. Enjoy the spacious room sizes with wall to wall carpets and large windows. The full basement has a wood burning fireplace, a full bath and separate utility room. Located in a nice and quiet tree lined street and conveniently close to Saint Agnes Hospital and Westside Shopping Center.

24. 2020-03-12
    status Pending 345-char remark

    Show marketing remark (345 chars)

    Check out this solid porch front brick townhome in Tremont. Enjoy the spacious room sizes with wall to wall carpets and large windows. The full basement has a wood burning fireplace, a full bath and separate utility room. Located in a nice and quiet tree lined street and conveniently close to Saint Agnes Hospital and Westside Shopping Center.

25. 2020-02-18
    listed $69,000 Active 345-char remark

    Show marketing remark (345 chars)

    Check out this solid porch front brick townhome in Tremont. Enjoy the spacious room sizes with wall to wall carpets and large windows. The full basement has a wood burning fireplace, a full bath and separate utility room. Located in a nice and quiet tree lined street and conveniently close to Saint Agnes Hospital and Westside Shopping Center.

26. 2018-10-16
    price $97,000
27. 2018-10-16
    historical
28. 2018-10-15
    listed $93,000 Active
29. 1997-09-30
    soldstatus $51,500

ⓘ 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: $2,903 · $242/mo
• Projected year-2 tax: $2,903 · $242/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 5/10 Major 24% 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: $28,379
• − Mortgage interest: −$12,603
• − Property taxes: −$2,903
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,270
• − Management: −$2,270
• − Depreciation: −$6,545
• Taxable income: $662
• Est. tax owed @ 24.0%: −$159
• After-tax cash flow: $4,074/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): 46,679
• Household income: $60,047
• Rent vs Own: 43.1% rent · 56.9% own
• Severe rent burden: 2776.0

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 15% Hispanic / Latino 6% Two or more races 4% Asian 3%
• Common ancestry: Lithuanian 1% Romanian 1% Serbian 1%
• Foreign-born: 5% · Canada, Philippines
• Languages at home: 91% English-only · Spanish 4% Other Indo-European 2% 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: ▼ -259.07%
• Current HPI: 226.896
• Rent YoY: ▲ 5.38%
• 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

+336.9% since first listed

15 events — show timeline

• 2026-05-16 Price Changed $225,000 BRIGHT MLS
• 2026-05-16 Relisted — BRIGHT MLS
• 2026-05-12 Listing Removed — BRIGHT MLS
• 2026-05-02 Price Changed $235,000 BRIGHT MLS
• 2026-04-18 Price Changed $239,900 BRIGHT MLS
• 2026-03-28 Listed $249,900 BRIGHT MLS
• 2020-06-19 Sold (MLS) $70,000 BRIGHT MLS
• 2020-06-01 Pending — BRIGHT MLS
• 2020-03-21 Relisted — BRIGHT MLS
• 2020-03-12 Pending — BRIGHT MLS
• 2020-02-18 Listed $69,000 BRIGHT MLS
• 2018-10-16 Listing Removed — BRIGHT MLS
• 2018-10-16 Price Changed $97,000 BRIGHT MLS
• 2018-10-15 Listed $93,000 BRIGHT MLS
• 1997-09-30 Sold (Public Records) $51,500 Public Records

Property tax history

+1.1%/yr

Latest (2025): $2,903 · +10.2% YoY. Source: county tax records.