102 5 1/2 St · Baltimore, MD 21224

$80,000

2 bd · 1.0 ba · 670 sqft · Townhouse public records · 32 Days on market

Built 1920 1,005 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

small street with BIG POTENTIAL!! Complete Gut Available! Bring your ideas and make it your own! Rental potential or owner occupancy in Baltimore Highland Community. 2 bedrooms, 2 baths with a basement that was used for storage, laundry, and entertaining. Add this one to your portfolio! The seller has done the heavy lifting with removal of all contents inside. Go & Show, contact listing agent prior to any/all showings. Please DO NOT remove keys from the premises!

Key facts

• Built 1920
• Listed 31 days

Property features AI

Finance

• Other: Fee simple ownership; Not in a federal flood zone; Pets not allowed; Lease not considered

Exterior

• Parking: Asphalt driveway; Alley access; Public parking available
• Utilities: Public water; Public sewer (public hook-up available); Electric service with circuit breakers; Natural gas service available; Natural gas hot water; Municipal trash service; Internet service (other)
• Home design: Interior townhouse/rowhouse; Urban location; Outside city limits
• Construction: Brick construction; Flat rubber roof; Concrete perimeter foundation; Building not winterized; Year built estimated
• Exterior features: Other exterior features; Above-grade other structure

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Two bedrooms on the first upper level
• Bathrooms: Two full bathrooms (one on upper level, one on lower level)
• Heating & cooling: Forced air heating; Hot water heating; Natural gas available
• Interior features: Traditional floor plan; Eat-in kitchen; Walk-in shower; Drywall walls and ceilings; Partially finished combination basement
• Laundry & utility: Washer and dryer in unit; Laundry hookups in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $80k.

Deal economics

• At list price, monthly cash flow is $847 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.

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: 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.
• Zoned schools: Highlandtown Elementary/Middle #237 (math 2% / reading 6%, grade F, #814 of 860 statewide, top 95%, 726 students, 59% FRL); Baltimore Polytechnic Institute (math 71% / reading 84%, grade A-, #22 of 222 statewide, top 10%, 1,555 students, 43% FRL) — zoned schools average 51% FRL vs 79% district-wide (28 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 41% at this address vs 12% district-wide (+29 pts) — the actual schools serving this property are materially stronger than the Baltimore City Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+1.3%/yr); 393 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $553 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 + 1.3% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 27y ago; this cycle's ask has dropped $20k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $46k; list at $80k implies a 74% gain — meaningful room to come down on a strong offer.

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 $77,600 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% 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. 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: 2.30% ✓
• Cap rate: 19.00%
• Cash-on-cash: 45.38%
• DSCR: 3.02
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $192,290
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
107 S Dean St	0.09mi	2/1.0	720 (+8%)	0mo	$104,000	$144	83
228 S Haven St	0.13mi	2/2.5	720 (+8%)	7mo	$145,000	$201	69
3023 Fait Ave	0.69mi	1/1.5 (-1)	693 (+3%)	20mo	$275,000	$397	39
825 S Decker Ave	0.70mi	2/1.0	748 (+12%)	14mo	$215,000	$287	37
1026 S Highland Ave	0.71mi	2/1.5	757 (+13%)	8mo	$305,000	$403	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 · 1.31% rent growth · sell at horizon

5-year hold

• IRR: 40.5%
• Equity multiple: 2.69×
• Total profit: $37,968
• Equity at exit: $11,928

10-year hold

• IRR: 46.0%
• Equity multiple: 5.04×
• Total profit: $90,560
• Equity at exit: $6,917

Cash invested: $22,400 (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 21224

• Rents YoY: 1.3%
• Active inventory: 393
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,843 high
• Mortgage (P&I): −$420
• Tax from tax record: −$156 /mo · $1,872/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $847

Break-even live

Break-even rent $771

Max offer price $80,000

Occupancy floor 49%

Sensitivity live

Price	-10% $892	-5% $870	+0% $847	+5% $824	+10% $802
Rent	-10% $701	-5% $774	+0% $847	+5% $920	+10% $993
Rate	-1.0pp $887	-0.5pp $867	base $847	+0.5pp $826	+1.0pp $805

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
201 S Conkling St Baltimore, MD	1.0	1.0	740	$1,500	$2.03	4d	2	0.14mi
3905 Bank St Baltimore, MD	4.0	1.0–3.0	909	$2,350	$2.58	4d	20	0.26mi
3344 E Baltimore St Unit 2 Baltimore, MD	1.0	1.0	545	$1,250	$2.29	45d	1	0.27mi
400 S Conkling St Unit 3 Baltimore, MD	1.0	1.0	700	$1,700	$2.43	45d	1	0.28mi
3235 Eastern Ave Unit 2FL Baltimore, MD	1.0	1.0	552	$1,795	$3.25	6d	1	0.43mi
3610 Dillon St Baltimore, MD	1.0–2.0	1.0–2.0	828	$2,820	$3.41	45d	1	0.63mi
1211 S Eaton St Unit 8024 Baltimore, MD	1.0	1.0	627	$2,014	$3.21	45d	1	0.77mi
3850 Boston St Baltimore, MD	2.0	1.0–2.0	854	$3,378	$3.96	4d	22	0.77mi
1200 S Conkling St Baltimore, MD	1.0–2.0	1.0–2.0	1085	$2,933	$2.70	3d	16	0.83mi
3700 Toone St Baltimore, MD	1.0–2.0	1.0–2.0	1093	$3,218	$2.94	3d	28	0.84mi
3018 O Donnell St Unit 2R Baltimore, MD	1.0	1.0	750	$1,700	$2.27	45d	1	0.85mi
560 Bayview Blvd Baltimore, MD	1.0–3.0	1.0–3.0	1108	$2,515	$2.27	4d	25	0.95mi
400 N Rose St #1 Baltimore, MD	1.0	1.0	588	$1,080	$1.84	45d	1	0.95mi
500 N Rose St Baltimore, MD	3.0	2.0	520	$1,200	$2.31	6d	1	0.99mi
2309 Eastern Ave Unit B Baltimore, MD	1.0	1.0	550	$1,295	$2.35	45d	1	1.08mi
107 S Collington Ave Unit 2 REAR Baltimore, MD	1.0	1.0	600	$1,800	$3.00	6d	1	1.13mi
305 S Collington Ave Baltimore, MD	3.0	2.5	722	$2,895	$4.01	19d	1	1.14mi
440 Elrino St Unit 2 Baltimore, MD	1.0	1.0	750	$1,050	$1.40	25d	1	1.19mi
421 Elrino St Unit B Baltimore, MD	1.0	1.0	750	$995	$1.33	25d	1	1.21mi
723 N Patterson Park Ave Baltimore, MD	1.0	1.0	350	$1,000	$2.86	45d	1	1.21mi
6201 Eastern Ave Baltimore, MD	1.0	1.0	650	$1,350	$2.08	45d	1	1.22mi
1401 N Potomac St Unit 1 Baltimore, MD	1.0	1.0	700	$1,099	$1.57	19d	1	1.26mi
1323 N Kenwood Ave Unit 2 Baltimore, MD	1.0	1.0	600	$950	$1.58	45d	1	1.30mi
1901 E Lombard St Baltimore, MD	1.0	1.0	650	$1,750	$2.69	25d	1	1.35mi
1901 E Lombard St Apt 3 Baltimore, MD	1.0	1.0	650	$1,750	$2.69	16d	1	1.35mi
1901 E Lombard St Baltimore, MD	1.0	1.0	660	$1,800	$2.73	23d	1	1.35mi
1901 E Lombard St Apt 4 Baltimore, MD	1.0	1.0	650	$1,750	$2.69	23d	1	1.35mi
1901 E Lombard St Apt 2 Baltimore, MD	1.0	1.0	650	$1,650	$2.54	3d	1	1.35mi
1901 E Lombard St Baltimore, MD	1.0	1.0	702	$1,750	$2.49	45d	1	1.35mi
1901 E Lombard St Apt 3 Baltimore, MD	1.0	1.0	650	$1,750	$2.69	6d	1	1.35mi
521 S Wolfe St Unit 1R Baltimore, MD	1.0	1.0	500	$1,350	$2.70	12d	1	1.39mi
1742 Fleet St Unit 302 Baltimore, MD	1.0	1.0	524	$1,600	$3.05	6d	1	1.50mi

Listing history 20 events

1. 2026-06-21
   days on market $80,000 Active 32 DOM
2. 2026-06-18
   days on market $80,000 Active 29 DOM
3. 2026-06-17
   days on market $80,000 Active 28 DOM
4. 2026-06-16
   days on market $80,000 Active 27 DOM
5. 2026-06-15
   days on market $80,000 Active 26 DOM
6. 2026-06-13
   days on market $80,000 Active 24 DOM
7. 2026-06-09
   days on market $80,000 Active 20 DOM
8. 2026-06-08
   days on market $80,000 Active 19 DOM
9. 2026-06-07
   days on market $80,000 Active 18 DOM
10. 2026-06-04
    pricedays on market $80,000 Active 15 DOM
11. 2026-06-03
    days on market $100,000 Active 14 DOM
12. 2026-06-02
    days on market $100,000 Active 13 DOM
13. 2026-06-01
    days on market $100,000 Active 12 DOM
14. 2026-05-31
    days on market $100,000 Active 11 DOM
15. 2026-05-20
    listed $100,000 Active
16. 1999-12-02
    soldstatus $46,000
17. 1999-09-24
    soldstatus $46,000
18. 1999-08-01
    historical
19. 1999-07-08
    listed $47,000
20. 1994-08-12
    soldstatus $750

ⓘ 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: $1,872 · $156/mo
• Projected year-2 tax: $1,872 · $156/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 ≥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: $22,116
• − Mortgage interest: −$4,481
• − Property taxes: −$1,872
• − Insurance: −$400
• − Repairs & maintenance: −$1,769
• − Management: −$1,769
• − Depreciation: −$2,327
• Taxable income: $9,497
• Est. tax owed @ 24.0%: −$2,279
• After-tax cash flow: $7,886/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: 59,407
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 47,465
• Household income: $89,017
• Rent vs Own: 41.5% rent · 58.5% own
• Severe rent burden: 1786.0

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 0.62)
• Race & ethnicity: White 55% Hispanic / Latino 21% Black 16% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2% Dominican 1%
• Common ancestry: Romanian 5% Lithuanian 2% Italian 1%
• Foreign-born: 17% · Canada, China, Vietnam
• Languages at home: 76% English-only · Spanish 18% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -332.23%
• Current HPI: 241.284
• Rent YoY: ▲ 1.31%
• 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

+112.8% since first listed

6 events — show timeline

• 2026-05-20 Listed $100,000 BRIGHT MLS
• 1999-12-02 Sold (Public Records) $46,000 Public Records
• 1999-09-24 Sold (MLS) $46,000 MRIS
• 1999-08-01 Delisted — MRIS
• 1999-07-08 Listed $47,000 MRIS
• 1994-08-12 Sold (Public Records) $750 Public Records

Property tax history

-0.3%/yr

Latest (2025): $1,872 · +5.9% YoY. Source: county tax records.