241 Colgate Ave · Dundalk, MD 21222

$110,000

2 bd · 1.0 ba · 904 sqft · Townhouse public records · 165 Days on market

Built 1919 2,125 sqft lot $122/sqft · 20% below area Est $138k · 20% 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
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Handyman Special, opportunity to customize a townhouse to your taste or ready it for resale or add to rental portfolio for experienced investors. Interior and exterior work needed to ready unit. Market value in neighborhood is 200k for renovated units. Offers accepted even if temp off market.

Key facts

• Built 1919
• Listed 164 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $110k.

Deal economics

• At list price, monthly cash flow is $414 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.8% vs local median 6.2% in Dundalk — 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 85/100 on livability (#16 in MD, #510 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime F.
• Baltimore County Public Schools (suburban): math 15% / reading 34% proficiency, ranked #11 of 24 in MD (top 46%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents soft (-0.1%/yr); 237 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 54% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,511 units permitted in Baltimore County in 2024 (643 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Baltimore County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 165 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 21y 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 $65k; list at $110k implies a 69% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1919 — 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 $96,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 165 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 1919 — 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.33% ✓
• Cap rate: 10.81%
• Cash-on-cash: 16.13%
• DSCR: 1.72
• GRM: 6.3

CMA / ARV

• ARV (median comp): $137,688
• List price: $110,000
• Delta: -20.11%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
209 Colgate Ave	0.06mi	2/1.0	904 (0%)	15mo	$135,000	$149	85
6552 Parnell Ave	0.14mi	2/1.5	885 (-2%)	9mo	$95,000	$107	80
65 Willow Spring Rd	0.10mi	3/1.0 (+1)	972 (+8%)	7mo	$141,200	$145	72
106 Baltimore	0.19mi	2/1.0	906 (+0%)	22mo	$150,000	$166	72
6562 Saint Helena Ave	0.12mi	2/1.0	840 (-7%)	17mo	$153,000	$182	69
73 N Dundalk Ave	0.17mi	2/2.0	864 (-4%)	18mo	$145,000	$168	66
6583 Saint Helena Ave	0.11mi	3/2.0 (+1)	819 (-9%)	5mo	$204,000	$249	66
7 Broadship	0.26mi	2/1.0	864 (-4%)	21mo	$200,000	$231	63
20 Eastship Rd	0.48mi	3/1.0 (+1)	864 (-4%)	22mo	$130,000	$150	47
12 Flagship	0.44mi	2/1.5	1,008 (+12%)	15mo	$155,000	$154	46
7 Eastship Rd	0.51mi	3/1.0 (+1)	1,007 (+11%)	22mo	$135,000	$134	34

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 3.7%
• Equity multiple: 1.14×
• Total profit: $4,255
• Equity at exit: $16,401

10-year hold

• IRR: 10.2%
• Equity multiple: 1.69×
• Total profit: $21,107
• Equity at exit: $9,511

Cash invested: $30,800 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 27 Tenant-Leaning
• State Maryland: 27 Tenant-Leaning · D+14
• County: — inherits STATE
• City: — inherits STATE

Failure-to-pay is dismissed if cured before judgment; Baltimore has just-cause; strict deposit rules.

Methodology + full state rankings →

ZIP-level market 21222

• Rents YoY: -0.1%
• Active inventory: 237
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,465 high
• Mortgage (P&I): −$577
• Tax from tax record: −$121 /mo · $1,448/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $414

Break-even live

Break-even rent $941

Max offer price $110,000

Occupancy floor 67%

Sensitivity live

Price	-10% $476	-5% $445	+0% $414	+5% $383	+10% $352
Rent	-10% $298	-5% $356	+0% $414	+5% $472	+10% $530
Rate	-1.0pp $469	-0.5pp $442	base $414	+0.5pp $385	+1.0pp $356

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6552 Parnell Ave Dundalk, MD	2.0	1.5	885	$1,500	$1.69	19d	1	0.17mi
6545 Baltimore Ave Dundalk, MD	2.0	1.0	852	$1,500	$1.76	44d	1	0.22mi
113 Kinship Rd Unit 115Kin-1A Dundalk, MD	1.0	1.0	525	$1,150	$2.19	16d	1	0.33mi
113 Kinship Rd Unit 124Kin-1A Dundalk, MD	1.0	1.0	525	$1,000	$1.90	44d	1	0.33mi
113 Kinship Rd Unit 117Kin-1B Dundalk, MD	1.0	1.0	525	$1,000	$1.90	13d	1	0.33mi
113 Kinship Rd Unit 131 Will-2B Dundalk, MD	1.0	1.0	525	$1,150	$2.19	44d	1	0.33mi
2125 Cameron Dr Dundalk, MD	1.0–2.0	1.0	697	$1,350	$1.94	44d	9	0.36mi
2104 Willow Spring Rd Unit 6727THR-1 Dundalk, MD	1.0	1.0	615	$899	$1.46	44d	1	0.37mi
2104 Willow Spring Rd Dundalk, MD	1.0	1.0	539	$1,038	$1.92	4d	2	0.37mi
3 Center Pl Unit 2 Dundalk, MD	1.0	1.0	700	$1,250	$1.79	44d	1	0.38mi
2624 Liberty Pkwy Dundalk, MD	3.0	1.5	1110	$1,856	$1.67	44d	1	0.50mi
7003 Dunmanway Dundalk, MD	1.0–2.0	1.0	772	$1,345	$1.74	3d	13	0.56mi
2907 Cornwall Rd Unit Road2nd Dundalk, MD	1.0	1.0	750	$950	$1.27	19d	1	0.71mi
2939 Cornwall Rd Unit C Dundalk, MD	1.0	1.0	700	$900	$1.29	44d	1	0.75mi
2976 Cornwall Rd Unit 1 Dundalk, MD	2.0	1.0	900	$1,590	$1.77	16d	1	0.78mi
6722 Brentwood Ave Unit B Dundalk, MD	1.0	1.0	540	$1,500	$2.78	44d	1	0.91mi
6722 Brentwood Ave Unit 2FL Dundalk, MD	3.0	1.0	900	$1,750	$1.94	44d	1	0.91mi
3117 Liberty Pkwy Unit 1 Dundalk, MD	1.0	1.0	600	$1,200	$2.00	25d	1	0.91mi
1955 Walnut Ave Dundalk, MD	3.0	1.0	950	$2,300	$2.42	44d	1	0.93mi
6518 Brown Ave Baltimore, MD	1.0–2.0	1.0	675	$1,300	$1.93	25d	3	0.96mi
3443 Dunhaven Rd Dundalk, MD	2.0	2.0	1016	$1,900	$1.87	6d	1	1.00mi
3481 McShane Way Dundalk, MD	2.0	1.5	896	$2,150	$2.40	44d	1	1.08mi
1613 Elrino St Baltimore, MD	2.0	1.0	700	$1,350	$1.93	44d	1	1.13mi
1504 Elrino St Baltimore, MD	2.0	2.0	1050	$1,650	$1.57	5d	1	1.28mi
3503 Sollers Point Rd Dundalk, MD	3.0	1.0	776	$1,850	$2.38	13d	1	1.35mi
108 Chestnut St Dundalk, MD	2.0	1.0	812	$1,300	$1.60	17d	1	1.36mi
7718 Meath Rd Dundalk, MD	3.0	2.0	864	$2,200	$2.55	44d	1	1.42mi
7508 Ives Ln Dundalk, MD	2.0	1.0	896	$1,750	$1.95	44d	1	1.47mi

Listing history 22 events

1. 2026-06-21
   days on market $110,000 Active 165 DOM
2. 2026-06-18
   days on market $110,000 Active 162 DOM
3. 2026-06-17
   days on market $110,000 Active 161 DOM
4. 2026-06-16
   days on market $110,000 Active 160 DOM
5. 2026-06-15
   days on market $110,000 Active 159 DOM
6. 2026-06-13
   days on market $110,000 Active 157 DOM
7. 2026-06-09
   days on market $110,000 Active 153 DOM
8. 2026-06-08
   days on market $110,000 Active 152 DOM
9. 2026-06-07
   days on market $110,000 Active 151 DOM
10. 2026-06-04
    days on market $110,000 Active 148 DOM
11. 2026-06-03
    days on market $110,000 Active 147 DOM
12. 2026-06-02
    days on market $110,000 Active 146 DOM
13. 2026-06-01
    days on market $110,000 Active 145 DOM
14. 2026-05-31
    days on market $110,000 Active 144 DOM
15. 2026-04-12
    price $110,000 294-char remark

    Show marketing remark (294 chars)

    Handyman Special, opportunity to customize a townhouse to your taste or ready it for resale or add to rental portfolio for experienced investors. Interior and exterior work needed to ready unit. Market value in neighborhood is 200k for renovated units. Offers accepted even if temp off market.

16. 2026-01-08
    soldstatus $65,000
17. 2026-01-07
    listed $115,000 Active 294-char remark

    Show marketing remark (294 chars)

    Handyman Special, opportunity to customize a townhouse to your taste or ready it for resale or add to rental portfolio for experienced investors. Interior and exterior work needed to ready unit. Market value in neighborhood is 200k for renovated units. Offers accepted even if temp off market.

18. 2005-05-03
    soldstatus $51,500
19. 2005-03-18
    soldstatus $51,500 14-char remark

    Show marketing remark (14 chars)

    sold to tenant

20. 2005-02-03
    listed $51,500 14-char remark

    Show marketing remark (14 chars)

    sold to tenant

21. 2005-02-03
    historical 14-char remark

    Show marketing remark (14 chars)

    sold to tenant

22. 1988-01-06
    soldstatus $42,500

ⓘ 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: $1,448 · $121/mo
• Projected year-2 tax: $1,448 · $121/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 8/10 Severe 7 d/yr ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,578
• − Mortgage interest: −$6,162
• − Property taxes: −$1,448
• − Insurance: −$550
• − Repairs & maintenance: −$1,406
• − Management: −$1,406
• − Depreciation: −$3,200
• Taxable income: $3,406
• Est. tax owed @ 24.0%: −$817
• After-tax cash flow: $4,149/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 County Public Schools
• NCES district ID: 2400120
• Math proficiency: 15% ▼ -16.00%
• Reading proficiency: 34% ▼ -5.00%
• Median HH income: $66,746
• Composite: 23.17/100
• National rank: #7948
• State rank: #11 of 24 in MD

Livability — Dundalk

• Score: 85/100
• State rank: #16
• US rank: #510

Category grades

Amenities A+ Commute A+ Cost of living A- Crime F Employment C+ Housing A+ Health & safety A+ User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dundalk, MD
• County: Baltimore County · 769,527 people
• City population: 59,407
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 59,407
• Household income: $64,141
• Rent vs Own: 35.1% rent · 64.9% own
• Severe rent burden: 2566.0

Population outlook (Baltimore County) Hauer SSP2

• Today (2025): 885,518 people
• By 2030: 909,272 · +2.7%
• By 2040: 951,547 · +7.5%
• By 2050: 990,955 · +11.9%
• By 2075: 1,086,411 · +22.7%
• By 2100: 1,135,078 · +28.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 59% Black 18% Hispanic / Latino 15% Two or more races 7% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Romanian 7% Lithuanian 1% Italian 1%
• Foreign-born: 9% · Canada
• Languages at home: 85% English-only · Spanish 11% Other Indo-European 2% Arabic 1%

Political lean MEDSL · Baltimore

• 2024 margin: Strong D (+24.5) · D 61.0% · R 36.5% · Other 2.5%
• 2008→2024 swing: +9.9pp toward D · 2008: 14.6pp · 2024: 24.5pp
• All cycles: 2024: D+24.5 2020: D+27.0 2016: D+17.4 2012: D+16.4 2008: D+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -251.44%
• Current HPI: 228.4218
• Rent YoY: ▼ -0.09%
• 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

+158.8% since first listed

8 events — show timeline

• 2026-04-12 Price Changed $110,000 BRIGHT MLS
• 2026-01-08 Sold (Public Records) $65,000 Public Records
• 2026-01-07 Listed $115,000 BRIGHT MLS
• 2005-05-03 Sold (Public Records) $51,500 Public Records
• 2005-03-18 Sold (MLS) $51,500 MRIS
• 2005-02-03 Delisted — MRIS
• 2005-02-03 Listed $51,500 MRIS
• 1988-01-06 Sold (Public Records) $42,500 Public Records

Property tax history

+1.3%/yr

Latest (2025): $1,448 · -5.2% YoY. Source: county tax records.