1917 Frederick Ave · Baltimore, MD 21223

$25,000

3 bd · 1.0 ba · 750 sqft · Townhouse · 29 Days on market

Built 1920 Est $22k · 15% over

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Why this score? — see what drove the D- 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 +15.0/30.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.4/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• ARV discount +0.8/15.0
• Appreciation +0.0/10.0

Listing remarks

Investor Special | Full Rehab | Priced to Move Classic Federal-style construction across 4 levels; 3BD |1BA interior row in Baltimore City's Carrollton Ridge. This is a complete gut rehab — no lipstick, just opportunity. AS-IS sale. Cash and hard money only. Perfect for flippers, landlords, and seasoned investors looking to add to their Baltimore portfolio. Priced for the work it needs — bring your contractor and your offer.

Key facts

• Interior row
• Carrollton ridge
• Complete gut rehab

Tags

• COMPLETE GUT REHAB
• INTERIOR ROW
• CARROLLTON RIDGE

Property features AI

Finance

• Other: Finished above-grade area reported
• Financial info: Ground rent amount applies (semi-annual payment); Property assessed as ground rent ownership interest; Property condition: major rehab needed

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas available; Sewer available; Water available
• Home design: Interior townhouse/rowhouse; Estimated year built
• Construction: Brick and vinyl siding exterior; Brick/mortar foundation; Tar and gravel roof; Above-grade and below-grade structures; Full basement with interior access and rear entrance
• Exterior features: Street lights; Ground rent exists; paid semi-annually

Interior

• Bedrooms: Three bedrooms on the main level
• Flooring: Ceramic tile; Concrete; Partially carpeted; Wood
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Natural gas and oil heating; Ceiling fans for cooling; Electric service with circuit breakers
• Interior features: Drywall and plaster walls and ceilings; Building not winterized; Enclosed porch; Street lights along the street
• Laundry & utility: Multi-tank hot water

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $25k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $25k).
• Recommended offer: $25k (1.5% below list) — sets the bar for market timing.
• Cap rate 60.2% 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 (+7.5%/yr); 422 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 43% of the median local income ($46k/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 $173 of loan paydown is wiped out by about $750 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 + 7.5% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($25k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 14y 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.
• Current owner paid $2k; list at $25k implies a 1150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $24,625 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 6.55% ✓
• Cap rate: 60.21%
• Cash-on-cash: 192.57%
• DSCR: 9.57
• GRM: 1.3

CMA / ARV

• ARV (on-the-fly): $21,750
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1610 Lemmon St	0.24mi	2/1.0 (-1)	744 (-1%)	1mo	$20,000	$27	82
1612 Lemmon St	0.24mi	2/1.0 (-1)	744 (-1%)	1mo	$20,000	$27	82
1608 Lemmon St	0.25mi	2/1.0 (-1)	744 (-1%)	1mo	$20,000	$27	82
1606 Lemmon St	0.25mi	2/1.0 (-1)	744 (-1%)	1mo	$20,000	$27	81
1611 Lemmon St	0.25mi	2/1.0 (-1)	686 (-8%)	1mo	$20,000	$29	69
1613 Lemmon St	0.25mi	2/1.0 (-1)	686 (-8%)	1mo	$20,000	$29	69
1406 Lemmon St	0.40mi	3/1.5	720 (-4%)	8mo	$155,000	$215	66
1926 Wilhelm St	0.19mi	2/1.0 (-1)	684 (-9%)	7mo	$7,500	$11	66
1605 Lemmon St	0.25mi	2/3.0 (-1)	686 (-8%)	1mo	$20,000	$29	60
119 S Carrollton Ave	0.59mi	2/1.5 (-1)	800 (+7%)	4mo	$83,000	$104	52
2214 Wilkens Ave	0.44mi	3/1.0	860 (+15%)	9mo	$65,000	$76	48
1241 Sargeant St	0.75mi	2/2.5 (-1)	816 (+9%)	4mo	$160,000	$196	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 · 7.51% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 11.76×
• Total profit: $75,289
• Equity at exit: $3,728

10-year hold

• IRR: —
• Equity multiple: 28.54×
• Total profit: $192,789
• Equity at exit: $2,162

Cash invested: $7,000 (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 21223

• Rents YoY: 7.5%
• Active inventory: 422
• Price-to-rent: 1.3×

Monthly cashflow live

• Estimated rent: $1,638 high
• Mortgage (P&I): −$131
• Tax from tax record: −$29 /mo · $352/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $1,123

Break-even live

Break-even rent $216

Max offer price $25,000

Occupancy floor 26%

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

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1918 W Baltimore St Baltimore, MD	2.0–3.0	1.0–2.0	857	$1,434	$1.67	44d	1	0.10mi
1601 Frederick Ave Unit 3 Baltimore, MD	2.0	1.0	1050	$1,050	$1.00	4d	1	0.25mi
62 N Gorman Ave Baltimore, MD	3.0	2.0	1100	$2,500	$2.27	18d	1	0.39mi
1324 W Lombard St Unit 2 Baltimore, MD	2.0	1.5	1100	$1,450	$1.32	44d	1	0.44mi
1324 W Lombard St Unit 1 Baltimore, MD	2.0	2.0	1100	$1,500	$1.36	24d	1	0.44mi
1315 Hollins St Unit 2 Baltimore, MD	3.0	2.0	1096	$1,860	$1.70	4d	1	0.45mi
1315 Hollins St Unit 2 Baltimore, MD	3.0	2.0	1096	$1,950	$1.78	12d	1	0.45mi
305 S Calhoun St Baltimore, MD	2.0	1.0	1000	$1,300	$1.30	22d	1	0.46mi
2516 Hollins St Baltimore, MD	3.0	2.0	1100	$1,700	$1.55	44d	1	0.53mi
48 S Carrollton Ave Unit 4 Baltimore, MD	2.0	1.0	670	$1,600	$2.39	44d	1	0.55mi
2540 Frederick Ave Baltimore, MD	3.0	1.0	1075	$1,400	$1.30	24d	1	0.60mi
332 S Franklintown Rd Unit 2 Baltimore, MD	2.0	1.0	776	$795	$1.02	24d	1	0.64mi
1215 James St Baltimore, MD	2.0	1.0	960	$1,500	$1.56	44d	1	0.72mi
101 N Schroeder St Baltimore, MD	3.0	1.0–2.0	1037	$3,185	$3.07	2d	12	0.76mi
1142 Sargeant St Baltimore, MD	3.0	2.0	1080	$1,601	$1.48	2d	1	0.76mi
2657 Lehman St Unit 1 Baltimore, MD	2.0	1.0	1056	$1,000	$0.95	44d	1	0.78mi
1127 Sargeant St Baltimore, MD	2.0	1.5	1080	$1,275	$1.18	24d	1	0.78mi
1315 Harlem Ave Unit B Baltimore, MD	2.0	1.0	900	$1,425	$1.58	24d	1	0.78mi
1315 Harlem Ave Unit C Baltimore, MD	2.0	1.0	900	$1,425	$1.58	44d	1	0.78mi
1160 Washington Blvd Baltimore, MD	2.0	1.0	960	$1,575	$1.64	24d	1	0.79mi
923 McHenry St Baltimore, MD	3.0	1.0	1008	$1,625	$1.61	44d	1	0.79mi
1163 Washington Blvd Baltimore, MD	2.0	2.5	1012	$1,700	$1.68	12d	1	0.81mi
1432 Carroll St Baltimore, MD	2.0	1.5	912	$1,900	$2.08	44d	1	0.82mi
847 McHenry St Baltimore, MD	2.0	2.0	952	$1,795	$1.89	4d	1	0.85mi
1339 W Lafayette Ave #1 Baltimore, MD	2.0	2.0	700	$1,600	$2.29	12d	1	0.90mi
2815 W Mulberry St Baltimore, MD	4.0	2.0	1040	$2,050	$1.97	44d	1	0.93mi
853 Reinhart St Baltimore, MD	2.0	2.5	780	$1,800	$2.31	44d	1	0.94mi
805 Washington Blvd Unit B Baltimore, MD	2.0	2.0	1106	$1,650	$1.49	20d	1	1.00mi
805 Washington Blvd Unit A Baltimore, MD	2.0	2.0	1050	$1,650	$1.57	44d	1	1.00mi
2301 Riggs Ave Baltimore, MD	3.0	2.0	1072	$1,600	$1.49	24d	1	1.01mi
519 Scott St Unit 1 Baltimore, MD	2.0	2.0	800	$2,000	$2.50	44d	1	1.04mi
1125 Wicomico St Baltimore, MD	3.0	3.0	1068	$1,955	$1.83	24d	1	1.10mi
1110 Shields Pl Unit 1129 Baltimore, MD	2.0	1.0	770	$1,100	$1.43	44d	1	1.16mi
812 S Paca St Baltimore, MD	3.0	2.0	990	$1,500	$1.52	12d	1	1.17mi
638 S Paca St Unit 2404866494 Baltimore, MD	3.0	1.5	1100	$2,200	$2.00	44d	1	1.21mi
617 W Lexington St Baltimore, MD	1.0–2.0	1.0	975	$2,200	$2.26	10d	4	1.22mi
1346 N Carey St Baltimore, MD	2.0	1.5	1100	$1,500	$1.36	44d	1	1.29mi
1931 Griffis Ave Baltimore, MD	2.0	1.0	912	$1,349	$1.48	4d	1	1.35mi
1534 N Stricker St Baltimore, MD	2.0	1.5	900	$1,475	$1.64	15d	1	1.36mi
318 N Paca St Unit 10 Baltimore, MD	2.0	1.0	600	$1,200	$2.00	22d	1	1.37mi

Listing history 39 events

1. 2026-06-18
   days on market $25,000 Active 29 DOM
2. 2026-06-17
   days on market $25,000 Active 28 DOM
3. 2026-06-16
   days on market $25,000 Active 27 DOM
4. 2026-06-15
   days on market $25,000 Active 26 DOM
5. 2026-06-13
   days on market $25,000 Active 24 DOM
6. 2026-06-09
   days on market $25,000 Active 20 DOM
7. 2026-06-08
   days on market $25,000 Active 19 DOM
8. 2026-06-07
   days on market $25,000 Active 18 DOM
9. 2026-06-04
   days on market $25,000 Active 15 DOM
10. 2026-06-03
    days on market $25,000 Active 14 DOM
11. 2026-06-02
    days on market $25,000 Active 13 DOM
12. 2026-06-01
    days on market $25,000 Active 12 DOM
13. 2026-05-31
    days on market $25,000 Active 11 DOM
14. 2026-05-20
    listed $25,000 Active
15. 2026-04-27
    historical
16. 2026-04-04
    price $37,000
17. 2026-04-03
    listed $48,000 Active
18. 2020-03-18
    historical
19. 2019-12-17
    status Pending
20. 2019-12-05
    price $12,000
21. 2019-11-23
    price $23,000
22. 2019-10-29
    price $5,000
23. 2019-10-18
    price $12,000
24. 2019-09-19
    price $5,000
25. 2019-02-18
    price $15,000
26. 2019-01-28
    price $5,000
27. 2018-04-04
    price $12,000
28. 2018-02-20
    price $5,000
29. 2015-09-24
    listed $7,000 Active
30. 2014-04-10
    historical
31. 2014-04-10
    historical
32. 2013-11-20
    price
33. 2013-10-07
    listed Active
34. 2013-10-07
    listed $11,000
35. 2012-05-01
    soldstatus $2,000 Sold
36. 2012-04-09
    price $4,500
37. 2012-03-09
    price $6,500
38. 2012-02-07
    listed $8,500 Active
39. 2006-12-05
    soldstatus $100,000

ⓘ 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: $352 · $29/mo
• Projected year-2 tax: $352 · $29/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $19,659
• − Mortgage interest: −$1,400
• − Property taxes: −$352
• − Insurance: −$125
• − Repairs & maintenance: −$1,573
• − Management: −$1,573
• − Depreciation: −$727
• Taxable income: $13,908
• Est. tax owed @ 24.0%: −$3,338
• After-tax cash flow: $10,142/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): 19,572
• Household income: $45,840
• Rent vs Own: 68.0% rent · 32.0% own
• Severe rent burden: 1755.0

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 (72%)
• Race & ethnicity: Black 72% White 16% Hispanic / Latino 7% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Romanian 1%
• Foreign-born: 8% · Canada
• Languages at home: 90% English-only · Spanish 6% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -97.99%
• Current HPI: 140.5836
• Rent YoY: ▲ 7.51%
• 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

-75.0% since first listed

26 events — show timeline

• 2026-05-20 Listed $25,000 BRIGHT MLS
• 2026-04-27 Listing Removed — BRIGHT MLS
• 2026-04-04 Price Changed $37,000 BRIGHT MLS
• 2026-04-03 Listed $48,000 BRIGHT MLS
• 2020-03-18 Listing Removed — BRIGHT MLS
• 2019-12-17 Pending — BRIGHT MLS
• 2019-12-05 Price Changed $12,000 BRIGHT MLS
• 2019-11-23 Price Changed $23,000 BRIGHT MLS
• 2019-10-29 Price Changed $5,000 BRIGHT MLS
• 2019-10-18 Price Changed $12,000 BRIGHT MLS
• 2019-09-19 Price Changed $5,000 BRIGHT MLS
• 2019-02-18 Price Changed $15,000 BRIGHT MLS
• 2019-01-28 Price Changed $5,000 BRIGHT MLS
• 2018-04-04 Price Changed $12,000 BRIGHT MLS
• 2018-02-20 Price Changed $5,000 BRIGHT MLS
• 2015-09-24 Listed $7,000 BRIGHT MLS
• 2014-04-10 Delisted — MRIS
• 2014-04-10 Listing Removed — BRIGHT MLS
• 2013-11-20 Price Changed — MRIS
• 2013-10-07 Listed — MRIS
• 2013-10-07 Listed $11,000 BRIGHT MLS
• 2012-05-01 Sold (MLS) $2,000 MRIS
• 2012-04-09 Price Changed $4,500 MRIS
• 2012-03-09 Price Changed $6,500 MRIS
• 2012-02-07 Listed $8,500 MRIS
• 2006-12-05 Sold (Public Records) $100,000 Public Records

Property tax history

-0.4%/yr

Latest (2025): $352 · +0.0% YoY. Source: county tax records.