1805 Ashburton St · Baltimore, MD 21216

$180,000

5 bd · 1.5 ba · 1,400 sqft · Townhouse · 266 Days on market

Built 1920 1,400 sqft lot $129/sqft · 23% below area Est $235k · 23% 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 +28.0/30.0
• ARV discount +15.0/15.0
• DSCR +9.9/10.0
• 1% rule +6.9/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 1805 Ashburton Street, a versatile property with a 5-bedroom, 2-bathroom layout—perfect as a spacious family home or an incredible investment opportunity. Previously operated as an assisted living facility, the property offers a strong foundation for multiple uses. With the right updates, it could serve as rehabilitation housing, a nursing home, group home, or other income-producing investment. Investors will appreciate the possibilities, while families will love the generous space and functional layout.

Key facts

• Built 1920
• Listed 266 days

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath townhouse listed at $180k.

Deal economics

• At list price, monthly cash flow is $558 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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 (+6.1%/yr); 252 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• At $2,133/mo this rent would consume 61% of the median local household income ($42k/yr) (locally 2264% 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 $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.
• At projected returns (-3.0% appreciation + 6.1% rent growth), your $50k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 266 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y ago; this cycle's ask has dropped $70k (28%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $158,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 266 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: 1.19% ✓
• Cap rate: 10.02%
• Cash-on-cash: 13.30%
• DSCR: 1.59
• GRM: 7.0

CMA / ARV

• ARV (median comp): $234,520
• List price: $180,000
• Delta: -23.25%
• 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
3018 Presstman St	0.42mi	4/2.0 (-1)	1,400 (0%)	1mo	$108,000	$77	72
3020 Brighton St	0.39mi	4/2.5 (-1)	1,406 (+0%)	2mo	$209,000	$149	71
2829 Baker St	0.25mi	4/3.5 (-1)	1,460 (+4%)	2mo	$215,400	$148	67
2754 Ellicott Driveway	0.41mi	4/2.0 (-1)	1,436 (+3%)	5mo	$170,000	$118	66
1722 N Bentalou St	0.41mi	4/2.0 (-1)	1,450 (+4%)	3mo	$245,000	$169	66
3028 Windsor Ave	0.46mi	4/1.5 (-1)	1,444 (+3%)	6mo	$185,000	$128	64
2304 Ashburton St	0.35mi	4/2.0 (-1)	1,520 (+9%)	4mo	$255,000	$168	59
2009 Ruxton Ave	0.42mi	4/2.0 (-1)	1,600 (+14%)	1mo	$234,000	$146	49
2307 N Ellamont St	0.60mi	4/1.5 (-1)	1,520 (+9%)	6mo	$205,000	$135	48
1635 N Rosedale St	0.39mi	4/3.0 (-1)	1,572 (+12%)	4mo	$198,500	$126	47
2927 Ellicott Dr	0.52mi	4/3.5 (-1)	1,540 (+10%)	2mo	$230,000	$149	44
1218 N Longwood St	0.55mi	4/2.0 (-1)	1,190 (-15%)	2mo	$56,000	$47	40

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 · 6.1% rent growth · sell at horizon

5-year hold

• IRR: 6.5%
• Equity multiple: 1.26×
• Total profit: $13,220
• Equity at exit: $26,839

10-year hold

• IRR: 18.3%
• Equity multiple: 2.73×
• Total profit: $87,153
• Equity at exit: $15,563

Cash invested: $50,400 (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 21216

• Rents YoY: 6.1%
• Active inventory: 252
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,133 high
• Mortgage (P&I): −$944
• Tax from tax record: −$108 /mo · $1,297/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$448
• Net cashflow: $558

Break-even live

Break-even rent $1,427

Max offer price $180,000

Occupancy floor 69%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2917 Clifton Ave Baltimore, MD	4.0	4.0	1700	$2,150	$1.26	23d	1	0.32mi
2405 W North Ave Baltimore, MD	4.0	3.0	1826	$1,900	$1.04	4d	1	0.32mi
1402 Poplar Grove St Baltimore, MD	4.0	1.5	1540	$800	$0.52	43d	1	0.36mi
2744 W Mosher St Baltimore, MD	4.0	2.0	1412	$2,100	$1.49	23d	1	0.59mi
2303 Calverton Heights Ave Baltimore, MD	4.0	2.0	1314	$2,250	$1.71	23d	1	0.84mi
715 N Rosedale St Baltimore, MD	5.0	3.0	1542	$2,550	$1.65	43d	1	0.87mi
2201 Whittier Ave Baltimore, MD	4.0	2.0	1750	$1,700	$0.97	17d	1	0.90mi
2201 Whittier Ave Baltimore, MD	4.0	2.0	1750	$1,700	$0.97	43d	1	0.90mi
2216 Whittier Ave Baltimore, MD	5.0	1.5	1392	$1,975	$1.42	23d	1	0.92mi
1914 Mosher St Unit 1914 Baltimore, MD	4.0	2.5	1200	$1,700	$1.42	43d	1	0.93mi
2505 Woodbrook Ave Baltimore, MD	4.0	2.0	1256	$1,745	$1.39	1d	1	1.05mi
2815 W Mulberry St Baltimore, MD	4.0	2.0	1040	$2,050	$1.97	43d	1	1.07mi
730 Linnard St Unit 1 Baltimore, MD	4.0	1.0	1360	$1,750	$1.29	23d	1	1.12mi
1315 Presstman St Baltimore, MD	4.0	2.0	1700	$2,000	$1.18	43d	1	1.19mi
623 N Grantley St Baltimore, MD	4.0	2.0	1250	$2,000	$1.60	23d	1	1.20mi
3507 Edmondson Ave Baltimore, MD	4.0	2.0	1428	$2,300	$1.61	43d	1	1.23mi
834 N Stricker St Baltimore, MD	4.0	1.0	1200	$1,500	$1.25	20d	1	1.26mi
405 N Edgewood St Baltimore, MD	4.0	2.0	1408	$2,950	$2.10	4d	1	1.31mi
1625 Edmondson Ave Unit 1 Baltimore, MD	4.0	3.0	1500	$2,175	$1.45	4d	1	1.33mi
1625 Edmondson Ave Unit 2 Baltimore, MD	4.0	3.0	1500	$1,895	$1.26	12d	1	1.33mi
3204 Sequoia Ave Baltimore, MD	4.0	2.5	1791	$2,600	$1.45	43d	1	1.45mi
910 N Arlington Ave Unit 2 Baltimore, MD	4.0	2.0	1220	$1,850	$1.52	23d	1	1.50mi

Listing history 14 events

1. 2025-12-31
   price $180,000 526-char remark

   Show marketing remark (526 chars)

   Welcome to 1805 Ashburton Street, a versatile property with a 5-bedroom, 2-bathroom layout—perfect as a spacious family home or an incredible investment opportunity. Previously operated as an assisted living facility, the property offers a strong foundation for multiple uses. With the right updates, it could serve as rehabilitation housing, a nursing home, group home, or other income-producing investment. Investors will appreciate the possibilities, while families will love the generous space and functional layout.

2. 2025-11-10
   price $219,000 526-char remark

   Show marketing remark (526 chars)

   Welcome to 1805 Ashburton Street, a versatile property with a 5-bedroom, 2-bathroom layout—perfect as a spacious family home or an incredible investment opportunity. Previously operated as an assisted living facility, the property offers a strong foundation for multiple uses. With the right updates, it could serve as rehabilitation housing, a nursing home, group home, or other income-producing investment. Investors will appreciate the possibilities, while families will love the generous space and functional layout.

3. 2025-10-19
   price $225,000 526-char remark

   Show marketing remark (526 chars)

   Welcome to 1805 Ashburton Street, a versatile property with a 5-bedroom, 2-bathroom layout—perfect as a spacious family home or an incredible investment opportunity. Previously operated as an assisted living facility, the property offers a strong foundation for multiple uses. With the right updates, it could serve as rehabilitation housing, a nursing home, group home, or other income-producing investment. Investors will appreciate the possibilities, while families will love the generous space and functional layout.

4. 2025-09-03
   listed $250,000 Active 526-char remark

   Show marketing remark (526 chars)

   Welcome to 1805 Ashburton Street, a versatile property with a 5-bedroom, 2-bathroom layout—perfect as a spacious family home or an incredible investment opportunity. Previously operated as an assisted living facility, the property offers a strong foundation for multiple uses. With the right updates, it could serve as rehabilitation housing, a nursing home, group home, or other income-producing investment. Investors will appreciate the possibilities, while families will love the generous space and functional layout.

5. 2025-08-31
   historical $250,000 526-char remark

   Show marketing remark (526 chars)

   Welcome to 1805 Ashburton Street, a versatile property with a 5-bedroom, 2-bathroom layout—perfect as a spacious family home or an incredible investment opportunity. Previously operated as an assisted living facility, the property offers a strong foundation for multiple uses. With the right updates, it could serve as rehabilitation housing, a nursing home, group home, or other income-producing investment. Investors will appreciate the possibilities, while families will love the generous space and functional layout.

6. 2019-04-18
   historical
7. 2019-02-18
   price $69,000
8. 2018-12-06
   listed $78,000 Active
9. 2015-08-25
   historical
10. 2015-08-25
    historical Withdrawn
11. 2015-07-27
    price
12. 2015-07-03
    price
13. 2015-06-04
    listed Active
14. 2015-06-04
    listed $49,000

ⓘ 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: $1,297 · $108/mo
• Projected year-2 tax: $1,629 · $136/mo
• Expected delta: +$333/yr (+$28/mo · 25.7%)

ⓘ 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,601
• − Mortgage interest: −$10,083
• − Property taxes: −$1,297
• − Insurance: −$900
• − Repairs & maintenance: −$2,048
• − Management: −$2,048
• − Depreciation: −$5,236
• Taxable income: $3,989
• Est. tax owed @ 24.0%: −$957
• After-tax cash flow: $5,744/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): 29,426
• Household income: $42,031
• Rent vs Own: 49.8% rent · 50.2% own
• Severe rent burden: 2264.0

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 (91%)
• Race & ethnicity: Black 91% Hispanic / Latino 4% Two or more races 3% White 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3% 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: ▼ -107.42%
• Current HPI: 164.3933
• Rent YoY: ▲ 6.10%
• 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

+267.3% since first listed

14 events — show timeline

• 2025-12-31 Price Changed $180,000 BRIGHT MLS
• 2025-11-10 Price Changed $219,000 BRIGHT MLS
• 2025-10-19 Price Changed $225,000 BRIGHT MLS
• 2025-09-03 Listed $250,000 BRIGHT MLS
• 2025-08-31 Coming Soon $250,000 BRIGHT MLS
• 2019-04-18 Listing Removed — BRIGHT MLS
• 2019-02-18 Price Changed $69,000 BRIGHT MLS
• 2018-12-06 Listed $78,000 BRIGHT MLS
• 2015-08-25 Delisted — MRIS
• 2015-08-25 Listing Removed — BRIGHT MLS
• 2015-07-27 Price Changed — MRIS
• 2015-07-03 Price Changed — MRIS
• 2015-06-04 Listed — MRIS
• 2015-06-04 Listed $49,000 BRIGHT MLS

Property tax history

+3.2%/yr

Latest (2025): $1,297 · +13.1% YoY. Source: county tax records.