145 Palormo Ave · Baltimore, MD 21229

$65,000

3 bd · 1.0 ba · 985 sqft · Townhouse public records · 7 Days on market

Built 1926 1,376 sqft lot Est $129k · 50% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Welcome to this townhouse in the neighborhood of Saint Josephs! Built in 1926, this home offers a blend of classic architecture and modern functionality. Spanning 985 square feet, the residence features three bedrooms and a full bathroom with tub shower, designed for versatility of lifestyles. The interior showcases an open floor plan with double pane and hung windows, enhancing the flow of natural light in the living and dining areas. The kitchen, which is adjacent to the dining room, is equipped with custom-made white cabinetry, granite countertops and appliances. The basement is unfinished but awaits your design and personal touch to expand the living space. Externally, the property is f

Key facts

• Open floor plan
• Unfinished basement
• Classic architecture

Tags

• CLASSIC ARCHITECTURE
• OPEN FLOOR PLAN
• CUSTOM-MADE WHITE CABINETRY
• GRANITE COUNTERTOPS
• UNFINISHED BASEMENT
• VINYL AND ALUMINUM SIDING

Property features AI

Finance

• Other: Fee simple ownership

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Interior townhouse/rowhouse; Facing direction not specified; Entry level not specified; Estimated year built
• Construction: Vinyl siding, aluminum siding and frame construction; Built-up roof; Concrete perimeter foundation; Double-hung, double-pane windows
• Exterior features: Front yard; Rear yard; Rear fencing; Porch(es); Sidewalks; Street lights

Interior

• Kitchen: Kitchen with table space
• Bedrooms: Three bedrooms on the upper level
• Flooring: Vinyl flooring; Carpet; Ceramic tile
• Bathrooms: One full bathroom
• Heating & cooling: Radiator heating; Ceiling fan cooling (electric)
• Interior features: Open floor plan; Dining area; Kitchen with table space; Skylight(s); Tub with shower; Drywall, paneled and plaster walls

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $65k.

Deal economics

• At list price, monthly cash flow is $765 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Cap rate 20.4% 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; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• This rent runs 33% of the median local income ($60k/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 $449 of loan paydown is wiped out by about $2k 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 $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $22k; list at $65k implies a 195% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1926 — 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 $65,000

Questions for the listing agent

1. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 2.52% ✓
• Cap rate: 20.42%
• Cash-on-cash: 50.45%
• DSCR: 3.24
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $129,035
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23 N Morley St	0.29mi	3/1.0	1,041 (+6%)	6mo	$85,000	$82	72
119 Hilton St	0.31mi	2/2.0 (-1)	1,040 (+6%)	0mo	$211,000	$203	67
3302 W Franklin St	0.67mi	3/1.0	960 (-2%)	2mo	$50,000	$52	63
107 N Monastery Ave	0.34mi	2/1.5 (-1)	1,080 (+10%)	2mo	$65,000	$60	59
3306 W Franklin St	0.67mi	3/2.0	960 (-2%)	1mo	$51,500	$54	59
3386 Dulany St	0.59mi	3/2.0	1,014 (+3%)	6mo	$169,000	$167	59
222 N Hilton St	0.43mi	3/1.0	1,120 (+14%)	1mo	$89,775	$80	57
133 N Monastery Ave	0.37mi	2/2.0 (-1)	1,080 (+10%)	3mo	$142,000	$131	55
209 Mount Holly St	0.53mi	3/2.0	1,080 (+10%)	2mo	$228,000	$211	54
3396 Dulany St	0.60mi	2/1.5 (-1)	1,080 (+10%)	0mo	$177,523	$164	49
427 Gwynn Ave	0.64mi	3/1.5	1,116 (+13%)	5mo	$152,650	$137	42
335 N Grantley St	0.58mi	2/2.0 (-1)	840 (-15%)	2mo	$85,000	$101	38

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: 51.1%
• Equity multiple: 3.32×
• Total profit: $42,290
• Equity at exit: $9,692

10-year hold

• IRR: 57.5%
• Equity multiple: 7.44×
• Total profit: $117,176
• Equity at exit: $5,620

Cash invested: $18,200 (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: 3.3×

Monthly cashflow live

• Estimated rent: $1,638 high
• Mortgage (P&I): −$341
• Tax from tax record: −$161 /mo · $1,929/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $765

Break-even live

Break-even rent $669

Max offer price $65,000

Occupancy floor 48%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3310 Elbert St Baltimore, MD	2.0	1.0	920	$1,550	$1.68	24d	1	0.30mi
4018 Massachusetts Ave Baltimore, MD	3.0	1.0	1050	$1,400	$1.33	24d	1	0.44mi
304 Collins Ave Unit 2 Baltimore, MD	3.0	1.0	1016	$2,100	$2.07	43d	1	0.49mi
3607 W Lexington St Baltimore, MD	3.0	2.0	1050	$1,895	$1.80	4d	1	0.51mi
3392 Saint Benedict St Baltimore, MD	2.0	1.0	864	$1,450	$1.68	24d	1	0.63mi
2 S Woodington Rd Baltimore, MD	2.0	1.0	856	$1,160	$1.36	15d	1	0.67mi
2 N Woodington Rd Baltimore, MD	1.0–2.0	1.0	738	$1,335	$1.81	3d	5	0.68mi
3706 W Franklin St Unit 1 Baltimore, MD	2.0	1.0	735	$1,100	$1.50	4d	1	0.71mi
4301 Parkton St Baltimore, MD	1.0–3.0	1.0	730	$1,550	$2.12	43d	1	0.74mi
709 Denison St Baltimore, MD	2.0	2.0	840	$1,630	$1.94	24d	1	0.88mi
2657 Lehman St Unit 1 Baltimore, MD	2.0	1.0	1056	$1,000	$0.95	43d	1	0.91mi
2815 W Mulberry St Baltimore, MD	4.0	2.0	1040	$2,050	$1.97	43d	1	0.92mi
332 S Franklintown Rd Unit 2 Baltimore, MD	2.0	1.0	776	$795	$1.02	24d	1	0.93mi
4431 Eldone Rd Baltimore, MD	3.0	2.0	896	$2,000	$2.23	24d	1	0.97mi
2540 Frederick Ave Baltimore, MD	3.0	1.0	1075	$1,400	$1.30	24d	1	0.97mi
787 N Grantley St Baltimore, MD	3.0	1.0	1116	$1,575	$1.41	24d	1	0.98mi
2516 Hollins St Baltimore, MD	3.0	2.0	1100	$1,700	$1.55	43d	1	1.00mi
751 Yale Ave Baltimore, MD	3.0	1.5	1024	$1,750	$1.71	43d	1	1.01mi
4601 Pen Lucy Rd Unit 4714-B Baltimore, MD	2.0	1.0	730	$1,205	$1.65	15d	1	1.05mi
4601 Pen Lucy Rd Unit 103-H Baltimore, MD	2.0	1.0	798	$1,315	$1.65	24d	1	1.05mi
4601 Pen Lucy Rd Unit 4718-F Baltimore, MD	2.0	1.0	879	$1,225	$1.39	2d	1	1.05mi
4601 Pen Lucy Rd Unit 4615-G Baltimore, MD	2.0	1.0	798	$1,200	$1.50	22d	1	1.05mi
402 Colleen Rd Baltimore, MD	1.0–2.0	1.0	910	$1,450	$1.59	2d	11	1.10mi
4520 Scarlet Oak Ln Baltimore, MD	2.0	1.0	1025	$1,500	$1.46	43d	1	1.10mi
627 Lucia Ave Baltimore, MD	3.0	1.0	892	$1,750	$1.96	24d	1	1.13mi
219 Atholgate Ln Baltimore, MD	1.0–3.0	1.0–1.5	814	$1,500	$1.84	3d	2	1.18mi
613 S Beechfield Ave Baltimore, MD	3.0	1.5	1080	$1,950	$1.81	43d	1	1.18mi
62 N Gorman Ave Baltimore, MD	3.0	2.0	1100	$2,500	$2.27	18d	1	1.21mi
1042 Ellicott Dr Baltimore, MD	2.0	1.0	900	$1,450	$1.61	43d	1	1.25mi
501 Hazlett Ave Baltimore, MD	2.0–3.0	1.5–2.0	1044	$1,879	$1.80	2d	8	1.28mi
4103 Mountwood Rd Baltimore, MD	3.0	2.0	1030	$1,700	$1.65	43d	1	1.31mi
1216 N Augusta Ave Baltimore, MD	3.0	1.0	1024	$1,550	$1.51	24d	1	1.32mi
1307 Wildwood Pkwy Baltimore, MD	2.0	1.0	725	$1,295	$1.79	43d	1	1.32mi
4103 Stokes Dr Apt 1 Baltimore, MD	2.0	1.0	725	$1,095	$1.51	43d	1	1.41mi
532 Coventry Rd Baltimore, MD	2.0	1.0	661	$1,300	$1.97	22d	1	1.43mi

Listing history 6 events

1. 2026-06-18
   days on market $65,000 Active 7 DOM
2. 2026-06-17
   days on market $65,000 Active 6 DOM
3. 2026-06-16
   days on market $65,000 Active 5 DOM
4. 2026-06-15
   days on market $65,000 Active 4 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $65,000 Active 2 DOM

ⓘ 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: $1,929 · $161/mo
• Projected year-2 tax: $1,929 · $161/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: $19,654
• − Mortgage interest: −$3,641
• − Property taxes: −$1,929
• − Insurance: −$325
• − Repairs & maintenance: −$1,572
• − Management: −$1,572
• − Depreciation: −$1,891
• Taxable income: $8,723
• Est. tax owed @ 24.0%: −$2,094
• After-tax cash flow: $7,088/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

+195.5% since first listed

2 events — show timeline

• 2026-06-11 Listed $65,000 BRIGHT MLS
• 1991-03-25 Sold (Public Records) $22,000 Public Records

Property tax history

+1.5%/yr

Latest (2025): $1,929 · +31.9% YoY. Source: county tax records.