1520 Ralworth Rd · Baltimore, MD 21218

$175,000

3 bd · 2.0 ba · 1,686 sqft · Townhouse public records · 1 Days on market

Built 1938 3,049 sqft lot Est $283k · 38% 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 +26.1/30.0
• ARV discount +15.0/15.0
• DSCR +8.8/10.0
• 1% rule +6.9/10.0
• 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

Key facts

• Built 1938

Property features AI

Finance

• Other: Finished above-grade area and below-grade finished and unfinished areas recorded by assessor

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Interior townhouse/rowhouse; Brick construction; Fee simple ownership
• Construction: Brick exterior; Permanent foundation; Above-grade and below-grade structures; Built year (source: assessor)
• Exterior features: No tidal water

Interior

• Bedrooms: Three bedrooms on the first upper level
• Bathrooms: Two full bathrooms (all upper levels)
• Heating & cooling: Forced air heating (natural gas); Window air conditioning units (electric); Natural gas hot water
• Interior features: One fireplace; Basement with connecting stairway

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $175k.

Deal economics

• At list price, monthly cash flow is $444 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Cap rate 9.3% 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); 45% 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 40% 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 $1k of loan paydown is wiped out by about $5k 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 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $42k; list at $175k implies a 321% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1938 — 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 $175,000

Questions for the listing agent

1. Built in 1938 — 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 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: 1.19% ✓
• Cap rate: 9.33%
• Cash-on-cash: 10.86%
• DSCR: 1.48
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $283,248
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1510 Medford Rd	0.23mi	3/2.0	1,700 (+1%)	2mo	$285,000	$168	86
1509 Shadyside Rd	0.09mi	3/2.0	1,792 (+6%)	2mo	$208,000	$116	84
1301 Northview Rd	0.31mi	3/1.5	1,605 (-5%)	2mo	$315,000	$196	74
1603 Northgate Rd	0.41mi	3/2.0	1,767 (+5%)	1mo	$200,000	$113	72
923 North Hill Rd	0.53mi	3/2.0	1,652 (-2%)	2mo	$277,500	$168	70
1644 E Cold Spring Ln	0.54mi	4/2.0 (+1)	1,694 (+0%)	1mo	$285,000	$168	68
1620 Kingsway Rd	0.40mi	2/2.0 (-1)	1,540 (-9%)	1mo	$140,000	$91	61
3953 Wilsby Ave	0.65mi	4/2.0 (+1)	1,716 (+2%)	1mo	$235,000	$137	60
3628 Elkader Rd	0.73mi	3/1.0	1,675 (-1%)	2mo	$272,000	$162	60
1101 Andover Rd	0.46mi	4/2.0 (+1)	1,500 (-11%)	2mo	$257,000	$171	54
1537 Stonewood Rd	0.67mi	4/2.0 (+1)	1,550 (-8%)	1mo	$310,000	$200	49
1647 Stonewood Rd	0.71mi	3/1.0	1,520 (-10%)	2mo	$160,000	$105	45

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: -1.6%
• Equity multiple: 0.94×
• Total profit: $-2,913
• Equity at exit: $26,093

10-year hold

• IRR: 6.6%
• Equity multiple: 1.46×
• Total profit: $22,642
• Equity at exit: $15,131

Cash invested: $49,000 (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 21218

• Rents YoY: 1.6%
• Active inventory: 325
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,083 high
• Mortgage (P&I): −$918
• Tax from tax record: −$211 /mo · $2,538/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$437
• Net cashflow: $444

Break-even live

Break-even rent $1,522

Max offer price $175,000

Occupancy floor 74%

Sensitivity live

Price	-10% $543	-5% $493	+0% $444	+5% $394	+10% $344
Rent	-10% $279	-5% $361	+0% $444	+5% $526	+10% $608
Rate	-1.0pp $532	-0.5pp $488	base $444	+0.5pp $398	+1.0pp $352

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1539 Ralworth Rd Baltimore, MD	3.0	2.0	1580	$1,950	$1.23	15d	1	0.02mi
1617 Argonne Dr Baltimore, MD	4.0	2.0	1200	$2,550	$2.12	44d	1	0.10mi
4006 Loch Raven Blvd Baltimore, MD	3.0	2.5	2016	$2,695	$1.34	18d	1	0.14mi
1545 E Cold Spring Ln Baltimore, MD	4.0	2.0	1240	$2,000	$1.61	44d	1	0.48mi
1502 Fernley Rd Baltimore, MD	3.0	2.0	1350	$2,800	$2.07	44d	1	0.50mi
720 Springfield Ave Baltimore, MD	3.0	1.0	1160	$2,000	$1.72	44d	1	0.73mi
3721 Ellerslie Ave Baltimore, MD	1.0–3.0	1.0–2.0	894	$1,603	$1.79	2d	1	0.74mi
1224 Winston Ave Baltimore, MD	3.0	2.0	1248	$2,100	$1.68	18d	1	0.79mi
706 E 43rd St Baltimore, MD	4.0	1.5	1596	$1,899	$1.19	2d	1	0.79mi
3213 The Alameda Baltimore, MD	2.0	1.0	1708	$1,295	$0.76	4d	1	0.80mi
1702 E 32nd St Baltimore, MD	3.0	2.0	1344	$2,300	$1.71	44d	1	0.83mi
5204 Kelway Rd Baltimore, MD	3.0	2.0	1666	$2,350	$1.41	24d	1	0.86mi
721 E 36th St Unit Na Baltimore, MD	2.0	1.0	1156	$1,650	$1.43	44d	1	0.87mi
513 E 41st St Baltimore, MD	4.0	1.5	1620	$1,900	$1.17	44d	1	0.88mi
804 Radnor Ave Baltimore, MD	3.0	1.0	1654	$2,000	$1.21	44d	1	0.89mi
4407 Old York Rd Baltimore, MD	3.0	1.5	1356	$1,574	$1.16	20d	1	0.90mi
4407 Old York Rd Baltimore, MD	3.0	1.5	1356	$1,574	$1.16	44d	1	0.90mi
724 E 35th St Baltimore, MD	3.0	1.5	1368	$2,000	$1.46	15d	1	0.92mi
4033 Greenmount Ave Baltimore, MD	2.0	2.5	1860	$2,550	$1.37	24d	1	0.93mi
4303 York Rd #3 Baltimore, MD	2.0	1.0	1680	$1,400	$0.83	44d	1	0.94mi
531 Willow Ave Unit Na Baltimore, MD	4.0	1.0	1300	$1,800	$1.38	20d	1	0.95mi
1221 Glenwood Ave Baltimore, MD	3.0	2.0	1390	$2,595	$1.87	44d	1	0.96mi
4754 Alhambra Ave Baltimore, MD	3.0	2.0	1876	$1,500	$0.80	24d	1	0.96mi
3222 Ellerslie Ave Baltimore, MD	4.0	1.5	1550	$1,950	$1.26	44d	1	1.01mi
1802 E 28th St Baltimore, MD	3.0	1.0	1300	$1,600	$1.23	24d	1	1.03mi
1832 E 28th St Baltimore, MD	3.0	1.0	1066	$1,495	$1.40	24d	1	1.04mi
3529 Greenmount Ave Baltimore, MD	3.0	2.0	1316	$1,575	$1.20	44d	1	1.06mi
1519 E 28th St Baltimore, MD	3.0	2.0	1100	$1,350	$1.23	44d	1	1.06mi
1804 Winford Rd Baltimore, MD	3.0	1.5	1600	$2,100	$1.31	24d	1	1.07mi
514 Radnor Ave Baltimore, MD	3.0	1.5	1575	$1,500	$0.95	45d	1	1.09mi
1539 Abbotston St Baltimore, MD	3.0	2.0	1800	$1,995	$1.11	44d	1	1.10mi
1539 Abbotston St Baltimore, MD	3.0	2.0	1900	$1,899	$1.00	5d	1	1.10mi
2918 Grindon Ave Unit 1ST Baltimore, MD	2.0	1.0	2000	$1,250	$0.62	44d	1	1.16mi
543 Chateau Ave Baltimore, MD	3.0	2.0	1152	$1,900	$1.65	5d	1	1.16mi
936 Montpelier St Baltimore, MD	2.0	1.0	1260	$1,450	$1.15	24d	1	1.17mi
510 Winston Ave Baltimore, MD	4.0	2.0	1600	$2,800	$1.75	20d	1	1.20mi
5520 Sagra Rd Baltimore, MD	3.0	1.5	1650	$1,900	$1.15	44d	1	1.20mi
711 1/2 McCabe Ave Baltimore, MD	4.0	3.0	1204	$2,350	$1.95	5d	1	1.20mi
616 Montpelier St Baltimore, MD	3.0	1.0	1150	$1,750	$1.52	11d	1	1.21mi
2028 Hillenwood Rd Baltimore, MD	4.0	2.0	1820	$2,100	$1.15	22d	1	1.23mi

Listing history 5 events

1. 2026-04-28
   status Pending
2. 2026-04-28
   historical $175,000
3. 1994-06-15
   historical
4. 1993-12-15
   listed
5. 1981-02-11
   soldstatus $41,580

ⓘ 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: $2,538 · $211/mo
• Projected year-2 tax: $2,538 · $211/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 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: $24,998
• − Mortgage interest: −$9,803
• − Property taxes: −$2,538
• − Insurance: −$875
• − Repairs & maintenance: −$2,000
• − Management: −$2,000
• − Depreciation: −$5,091
• Taxable income: $2,692
• Est. tax owed @ 24.0%: −$646
• After-tax cash flow: $4,677/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

+320.9% since first listed

5 events — show timeline

• 2026-04-28 Pending — BRIGHT MLS
• 2026-04-28 Coming Soon $175,000 BRIGHT MLS
• 1994-06-15 Delisted — MRIS
• 1993-12-15 Listed — MRIS
• 1981-02-11 Sold (Public Records) $41,580 Public Records

Property tax history

-2.3%/yr

Latest (2025): $2,538 · +4.8% YoY. Source: county tax records.