405 Mcallister St · Baltimore, MD 21202

$92,000

1 bd · 1.0 ba · 432 sqft · Townhouse public records · 12 Days on market

Built 1917 436 sqft lot $213/sqft · at area comps Est $96k · at est. ↓ 25% since listing

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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 +29.2/30.0
• DSCR +10.0/10.0
• ARV discount +9.2/15.0
• 1% rule +8.1/10.0
• Livability +3.8/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Very cozy updated home.

Key facts

• Built 1917
• Listed 12 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath townhouse listed at $92k.

Deal economics

• At list price, monthly cash flow is $320 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $92k).
• Cap rate 10.5% 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 flat; 134 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $636 of loan paydown is wiped out by about $3k 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 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 9y 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.

Risks & watch-outs

• Watch-outs: built in 1917 — 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 $92,000

Questions for the listing agent

1. Built in 1917 — 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: 1.31% ✓
• Cap rate: 10.46%
• Cash-on-cash: 14.89%
• DSCR: 1.66
• GRM: 6.3

CMA / ARV

• ARV (median comp): $95,584
• List price: $92,000
• Delta: -3.75%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1001 Saint Paul St Unit 2D	0.68mi	1/1.0	443 (+2%)	8mo	$64,000	$144	57
1001 Saint Paul St Unit 9F	0.68mi	1/1.0	442 (+2%)	10mo	$85,000	$192	56
1001 Saint Paul St Unit 7F	0.68mi	1/1.0	442 (+2%)	16mo	$87,500	$198	51
1 E Chase St #309	0.64mi	1/1.0	456 (+6%)	14mo	$119,000	$261	49
1 E Chase St #709	0.64mi	1/1.0	475 (+10%)	22mo	$90,000	$189	35

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 · 0.59% rent growth · sell at horizon

5-year hold

• IRR: 2.7%
• Equity multiple: 1.10×
• Total profit: $2,602
• Equity at exit: $13,717

10-year hold

• IRR: 9.8%
• Equity multiple: 1.67×
• Total profit: $17,353
• Equity at exit: $7,954

Cash invested: $25,760 (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 21202

• Home prices YoY: -8.0%
• Rents YoY: 0.6%
• Active inventory: 134
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,209 high
• Mortgage (P&I): −$482
• Tax est. 1.5%: −$115 /mo · $1,380/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $320

Break-even live

Break-even rent $805

Max offer price $92,000

Occupancy floor 69%

Sensitivity live

Price	-10% $383	-5% $351	+0% $320	+5% $288	+10% $256
Rent	-10% $224	-5% $272	+0% $320	+5% $367	+10% $415
Rate	-1.0pp $366	-0.5pp $343	base $320	+0.5pp $296	+1.0pp $272

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: $23,000
• Closing costs: $2,760
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
101 E Trenton St Apt 2 Baltimore, MD	—	1.0	363	$1,200	$3.31	24d	1	0.23mi
2315 St Paul St Baltimore, MD	1.0–2.0	1.0	579	$1,399	$2.42	2d	5	0.44mi
1303 N Charles St Unit 4 Baltimore, MD	—	1.0	375	$900	$2.40	3d	1	0.53mi
1520 N Caroline St Baltimore, MD	1.0	1.0	287	$1,350	$4.70	15d	1	0.66mi
9 E Read St Apt 3A Baltimore, MD	—	1.0	307	$1,020	$3.32	5d	1	0.83mi
816 Park Ave Unit 816-3 Baltimore, MD	—	1.0	228	$895	$3.93	3d	1	0.93mi
2905 N Charles St Unit 206 Baltimore, MD	—	1.0	292	$1,150	$3.94	24d	1	0.95mi
1706 Bolton St Unit 1F Baltimore, MD	—	1.0	235	$995	$4.23	15d	1	0.99mi
700 Park Ave Baltimore, MD	1.0	1.0	350	$1,010	$2.89	16d	1	1.03mi
4 E 32nd St Baltimore, MD	1.0	1.0	386	$1,535	$3.98	5d	1	1.16mi
3210 N Calvert St Apt A Baltimore, MD	—	1.0	325	$1,100	$3.38	5d	1	1.18mi
301 W Franklin St Unit 319-302 Baltimore, MD	—	1.0	348	$1,025	$2.95	44d	1	1.25mi
301 W Franklin St Baltimore, MD	1.0	1.0	586	$1,600	$2.73	13d	5	1.25mi
3401 Greenway #105 Baltimore, MD	—	1.0	354	$1,350	$3.81	3d	1	1.35mi
501 W Franklin St Baltimore, MD	—	1.0	284	$970	$3.42	5d	1	1.38mi

Listing history 16 events

1. 2026-05-03
   status Pending 23-char remark

   Show marketing remark (23 chars)

   Very cozy updated home.

2. 2026-04-20
   listed $90,000 Active 23-char remark

   Show marketing remark (23 chars)

   Very cozy updated home.

3. 2025-09-12
   historical $1,250
4. 2025-09-02
   historical
5. 2025-07-24
   listed $1,250
6. 2025-06-25
   listed $70,000 Active
7. 2023-12-08
   historical $1,200
8. 2023-08-17
   listed $1,200
9. 2019-11-25
   soldstatus $125,000
10. 2019-08-30
    soldstatus $125,000 Closed
11. 2019-07-11
    status Pending
12. 2019-04-04
    listed $130,000 Active
13. 2017-05-30
    historical
14. 2017-05-30
    historical Withdrawn
15. 2017-04-29
    listed Active
16. 2017-04-22
    listed $119,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $14,512
• − Mortgage interest: −$5,153
• − Property taxes: −$1,380
• − Insurance: −$460
• − Repairs & maintenance: −$1,161
• − Management: −$1,161
• − Depreciation: −$2,676
• Taxable income: $2,520
• Est. tax owed @ 24.0%: −$605
• After-tax cash flow: $3,230/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): 20,683
• Household income: $59,377
• Rent vs Own: 78.6% rent · 21.4% own
• Severe rent burden: 1863.0

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 0.63)
• Race & ethnicity: Black 52% White 31% Hispanic / Latino 7% Two or more races 6% Asian 5%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 1%
• Foreign-born: 12% · Canada, South Korea, China
• Languages at home: 87% English-only · Spanish 4% Other Indo-European 2% Arabic 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: ▼ -25.44%
• Current HPI: 291.3702
• Rent YoY: ▲ 0.59%
• 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

-24.9% since first listed

16 events — show timeline

• 2026-05-03 Pending — BRIGHT MLS
• 2026-04-20 Listed $90,000 BRIGHT MLS
• 2025-09-12 Rental Removed $1,250 Hemlane
• 2025-09-02 Listing Removed — BRIGHT MLS
• 2025-07-24 Listed for Rent $1,250 Hemlane
• 2025-06-25 Listed $70,000 BRIGHT MLS
• 2023-12-08 Rental Removed $1,200 APPFOLIO
• 2023-08-17 Listed for Rent $1,200 APPFOLIO
• 2019-11-25 Sold (Public Records) $125,000 Public Records
• 2019-08-30 Sold (MLS) $125,000 BRIGHT MLS
• 2019-07-11 Pending — BRIGHT MLS
• 2019-04-04 Listed $130,000 BRIGHT MLS
• 2017-05-30 Delisted — MRIS
• 2017-05-30 Listing Removed — BRIGHT MLS
• 2017-04-29 Listed — MRIS
• 2017-04-22 Listed $119,900 BRIGHT MLS

Property tax history

+18.7%/yr

Latest (2025): $6,577 · +10.5% YoY. Source: county tax records.