729 N Fremont Ave · Baltimore, MD 21217

$60,000

3 bd · 1.0 ba · 3,315 sqft · Townhouse public records · 138 Days on market

Built 1900 1,870 sqft lot $18/sqft · 78% below area ↓ 33% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

AS-IS sale. Full renovation required. Brick rowhome located in a West Baltimore neighborhood experiencing active public and private redevelopment momentum. The property sits adjacent to multiple city-backed revitalization efforts, including nearby mixed-use redevelopment projects, recently issued Baltimore City RFPs for vacant block redevelopment, and ongoing corridor improvement initiatives along North Fremont Avenue. Area investment activity reflects municipal focus on stabilization, housing redevelopment, and long-term neighborhood revitalization. Convenient access to downtown Baltimore, the MLK Blvd corridor, major commuter routes including I-95 and I-695, public transportation, employment centers, universities, and cultural amenities. Supporting future rentability and resale potential. Seller will not make repairs or provide credits. Property may not qualify for FHA/VA financing. Submit offers with proof of funds.

Key facts

• 1,870 sq ft lot
• Built 1900
• Listed 137 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $60k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Cap rate 37.6% 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 (+6.6%/yr); 334 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• At $2,439/mo this rent would consume 76% of the median local household income ($38k/yr) (locally 2921% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 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 + 6.6% rent growth), your $17k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 138 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 20y ago; this cycle's ask has dropped $19k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $27k; list at $60k implies a 122% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $52,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 138 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 1900 — 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 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?
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: 4.07% ✓
• Cap rate: 37.57%
• Cash-on-cash: 111.71%
• DSCR: 5.97
• GRM: 2.0

CMA / ARV

• ARV (median comp): $273,382
• List price: $60,000
• Delta: -78.05%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1007 W Lafayette Ave W	0.12mi	3/3.0	3,500 (+6%)	2mo	$80,000	$23	76
1431 Madison Ave	0.55mi	3/3.5	3,250 (-2%)	4mo	$390,000	$120	58
254 Waxter Way	0.66mi	3/3.5	3,192 (-4%)	2mo	$465,000	$146	51
1803 Madison Ave	0.67mi	3/3.0	3,148 (-5%)	3mo	$460,000	$146	50
845 N Howard St	0.74mi	3/2.0	3,234 (-2%)	13mo	$211,050	$65	47
1310 Bolton St	0.72mi	4/3.0 (+1)	3,288 (-1%)	7mo	$937,500	$285	46
1722 Mcculloh St	0.58mi	4/3.5 (+1)	3,650 (+10%)	3mo	$252,575	$69	39
1064 W Fayette St	0.54mi	4/3.5 (+1)	2,900 (-12%)	3mo	$425,000	$147	36
1906 Madison Ave	0.71mi	4/2.5 (+1)	3,190 (-4%)	19mo	$215,000	$67	34
1202 Bolton St	0.72mi	4/2.5 (+1)	3,600 (+9%)	12mo	$350,000	$97	31
229 W Lanvale St W	0.72mi	4/4.5 (+1)	3,330 (+0%)	19mo	$665,000	$200	31
1407 Druid Hill Ave	0.43mi	4/4.5 (+1)	2,849 (-14%)	16mo	$375,000	$132	24

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 · 6.63% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.90×
• Total profit: $99,125
• Equity at exit: $8,946

10-year hold

• IRR: —
• Equity multiple: 16.20×
• Total profit: $255,432
• Equity at exit: $5,188

Cash invested: $16,800 (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 21217

• Rents YoY: 6.6%
• Active inventory: 334
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $2,439 high
• Mortgage (P&I): −$315
• Tax from tax record: −$23 /mo · $282/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$512
• Net cashflow: $1,564

Break-even live

Break-even rent $460

Max offer price $60,000

Occupancy floor 31%

Sensitivity live

Price	-10% $1,598	-5% $1,581	+0% $1,564	+5% $1,547	+10% $1,530
Rent	-10% $1,371	-5% $1,468	+0% $1,564	+5% $1,660	+10% $1,757
Rate	-1.0pp $1,594	-0.5pp $1,579	base $1,564	+0.5pp $1,548	+1.0pp $1,533

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1614 McCulloh St #1 Baltimore, MD	3.0	3.0	2885	$2,400	$0.83	44d	1	0.50mi
1927 Druid Hill Ave #2 Baltimore, MD	3.0	2.0	3312	$2,350	$0.71	44d	1	0.65mi
1929 McCulloh St Baltimore, MD	3.0	2.5	3293	$2,595	$0.79	44d	1	0.69mi
2020 McCulloh St Unit 1 Baltimore, MD	2.0	2.0	2440	$1,650	$0.68	44d	1	0.72mi
2020 McCulloh St Unit 2 Baltimore, MD	2.0	2.0	2440	$1,950	$0.80	44d	1	0.72mi
922 W Lombard St Baltimore, MD	4.0	2.0	2364	$2,300	$0.97	25d	1	0.76mi
853 W Lombard St Baltimore, MD	3.0	2.5	2824	$2,650	$0.94	25d	1	0.79mi
1138 W Lombard St Baltimore, MD	3.0	3.5	2400	$1,795	$0.75	25d	1	0.79mi
1020 Park Ave Baltimore, MD	2.0	2.0–2.5	2004	$3,712	$1.85	4d	11	0.80mi
147 W Lafayette Ave Baltimore, MD	4.0	2.5	2400	$3,250	$1.35	44d	1	0.81mi
1328 W Lombard St Baltimore, MD	3.0	3.5	2312	$3,600	$1.56	13d	1	0.84mi
8 N Howard St Baltimore, MD	2.0	1.0–2.0	1433	$3,600	$2.51	3d	36	0.91mi
217 S Fremont Ave Baltimore, MD	3.0	3.5	3338	$3,000	$0.90	44d	1	0.92mi
1725 Hollins St #3 Baltimore, MD	2.0	1.0	2796	$1,195	$0.43	44d	1	0.98mi
1725 Hollins St Unit 4 Baltimore, MD	2.0	1.0	2796	$1,195	$0.43	45d	1	0.98mi
2312 Eutaw Pl Unit A Baltimore, MD	2.0	2.5	4464	$2,300	$0.52	44d	1	0.98mi
10 E Chase St Baltimore, MD	4.0	2.5	2626	$3,499	$1.33	44d	1	1.01mi
32 E Preston St Unit B Baltimore, MD	3.0	3.0	2500	$2,890	$1.16	44d	1	1.08mi
2534 McCulloh St Unit 1 Baltimore, MD	4.0	2.0	2861	$3,300	$1.15	25d	1	1.13mi
2511 Madison Ave Unit 1 Baltimore, MD	4.0	2.0	2700	$2,700	$1.00	44d	1	1.14mi
914 Whitelock St Baltimore, MD	4.0	3.5	2880	$2,250	$0.78	5d	1	1.15mi
1227 Washington Blvd Baltimore, MD	4.0	3.5	2664	$2,950	$1.11	5d	1	1.16mi
782 W Hamburg St Baltimore, MD	3.0	3.5	3734	$3,500	$0.94	25d	1	1.20mi
2302 Mount Royal Ter Baltimore, MD	4.0	3.5	2351	$3,000	$1.28	25d	1	1.23mi
2535 Brookfield Ave Baltimore, MD	3.0	1.0	2736	$1,500	$0.55	44d	1	1.26mi
1824 Saint Paul St Unit 3 Baltimore, MD	2.0	1.0	2397	$1,275	$0.53	44d	1	1.29mi
411 E Lafayette Ave Baltimore, MD	3.0	2.5	2450	$2,900	$1.18	25d	1	1.46mi
2301 Whittier Ave Unit 3 Baltimore, MD	2.0	2.0	3132	$1,650	$0.53	25d	1	1.48mi
2301 Whittier Ave Unit 1 Baltimore, MD	2.0	1.0	3132	$1,400	$0.45	25d	1	1.48mi
2301 Whittier Ave Unit 2 Baltimore, MD	2.0	2.0	3132	$1,400	$0.45	25d	1	1.48mi

Listing history 18 events

1. 2026-06-09
   days on market $60,000 Active 138 DOM
2. 2026-06-08
   days on market $60,000 Active 137 DOM
3. 2026-06-07
   days on market $60,000 Active 136 DOM
4. 2026-06-04
   days on market $60,000 Active 133 DOM
5. 2026-06-03
   days on market $60,000 Active 132 DOM
6. 2026-06-02
   days on market $60,000 Active 131 DOM
7. 2026-06-01
   days on market $60,000 Active 130 DOM
8. 2026-05-31
   days on market $60,000 Active 129 DOM
9. 2026-04-06
   price $60,000 932-char remark

   Show marketing remark (932 chars)

   AS-IS sale. Full renovation required. Brick rowhome located in a West Baltimore neighborhood experiencing active public and private redevelopment momentum. The property sits adjacent to multiple city-backed revitalization efforts, including nearby mixed-use redevelopment projects, recently issued Baltimore City RFPs for vacant block redevelopment, and ongoing corridor improvement initiatives along North Fremont Avenue. Area investment activity reflects municipal focus on stabilization, housing redevelopment, and long-term neighborhood revitalization. Convenient access to downtown Baltimore, the MLK Blvd corridor, major commuter routes including I-95 and I-695, public transportation, employment centers, universities, and cultural amenities. Supporting future rentability and resale potential. Seller will not make repairs or provide credits. Property may not qualify for FHA/VA financing. Submit offers with proof of funds.

10. 2026-02-10
    price $65,000 932-char remark

    Show marketing remark (932 chars)

    AS-IS sale. Full renovation required. Brick rowhome located in a West Baltimore neighborhood experiencing active public and private redevelopment momentum. The property sits adjacent to multiple city-backed revitalization efforts, including nearby mixed-use redevelopment projects, recently issued Baltimore City RFPs for vacant block redevelopment, and ongoing corridor improvement initiatives along North Fremont Avenue. Area investment activity reflects municipal focus on stabilization, housing redevelopment, and long-term neighborhood revitalization. Convenient access to downtown Baltimore, the MLK Blvd corridor, major commuter routes including I-95 and I-695, public transportation, employment centers, universities, and cultural amenities. Supporting future rentability and resale potential. Seller will not make repairs or provide credits. Property may not qualify for FHA/VA financing. Submit offers with proof of funds.

11. 2026-01-22
    listed $79,000 Active 932-char remark

    Show marketing remark (932 chars)

    AS-IS sale. Full renovation required. Brick rowhome located in a West Baltimore neighborhood experiencing active public and private redevelopment momentum. The property sits adjacent to multiple city-backed revitalization efforts, including nearby mixed-use redevelopment projects, recently issued Baltimore City RFPs for vacant block redevelopment, and ongoing corridor improvement initiatives along North Fremont Avenue. Area investment activity reflects municipal focus on stabilization, housing redevelopment, and long-term neighborhood revitalization. Convenient access to downtown Baltimore, the MLK Blvd corridor, major commuter routes including I-95 and I-695, public transportation, employment centers, universities, and cultural amenities. Supporting future rentability and resale potential. Seller will not make repairs or provide credits. Property may not qualify for FHA/VA financing. Submit offers with proof of funds.

12. 2024-04-01
    soldstatus $27,000 Closed 336-char remark

    Show marketing remark (336 chars)

    * * Home needs FULL renovation; * * - cash or construction loan only. Being sold as-is and subject to third-party approval. All offers must be in wet signatures. Offers received in electronic signatures will not be reviewed, considered, or accepted. No offers will be accepted until 15 DOM. Buyer to pay loss mitigation fee of $4000.

13. 2023-01-16
    historical Active Under Contract 336-char remark

    Show marketing remark (336 chars)

    * * Home needs FULL renovation; * * - cash or construction loan only. Being sold as-is and subject to third-party approval. All offers must be in wet signatures. Offers received in electronic signatures will not be reviewed, considered, or accepted. No offers will be accepted until 15 DOM. Buyer to pay loss mitigation fee of $4000.

14. 2022-12-13
    listed $75,000 Active 336-char remark

    Show marketing remark (336 chars)

    * * Home needs FULL renovation; * * - cash or construction loan only. Being sold as-is and subject to third-party approval. All offers must be in wet signatures. Offers received in electronic signatures will not be reviewed, considered, or accepted. No offers will be accepted until 15 DOM. Buyer to pay loss mitigation fee of $4000.

15. 2007-02-20
    soldstatus $85,000
16. 2006-07-28
    soldstatus $85,000
17. 2006-07-12
    historical
18. 2006-04-28
    listed $90,000

ⓘ 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: $282 · $23/mo
• Projected year-2 tax: $468 · $39/mo
• Expected delta: +$186/yr (+$16/mo · 66.0%)

ⓘ 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 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: $29,272
• − Mortgage interest: −$3,361
• − Property taxes: −$282
• − Insurance: −$300
• − Repairs & maintenance: −$2,342
• − Management: −$2,342
• − Depreciation: −$1,745
• Taxable income: $18,900
• Est. tax owed @ 24.0%: −$4,536
• After-tax cash flow: $14,231/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): 30,792
• Household income: $38,409
• Rent vs Own: 70.0% rent · 30.0% own
• Severe rent burden: 2921.0

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 (81%)
• Race & ethnicity: Black 81% White 12% Two or more races 4% Hispanic / Latino 2% Asian 2%
• Common ancestry: Romanian 1% Hispanic 1% Italian 1%
• Foreign-born: 5% · Canada, China, South Korea
• Languages at home: 94% English-only · Spanish 2% French/Haitian/Cajun 1% Chinese 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: ▼ -187.20%
• Current HPI: 104.2102
• Rent YoY: ▲ 6.63%
• 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

-33.3% since first listed

10 events — show timeline

• 2026-04-06 Price Changed $60,000 BRIGHT MLS
• 2026-02-10 Price Changed $65,000 BRIGHT MLS
• 2026-01-22 Listed $79,000 BRIGHT MLS
• 2024-04-01 Sold (MLS) $27,000 BRIGHT MLS
• 2023-01-16 Contingent — BRIGHT MLS
• 2022-12-13 Listed $75,000 BRIGHT MLS
• 2007-02-20 Sold (Public Records) $85,000 Public Records
• 2006-07-28 Sold (MLS) $85,000 MRIS
• 2006-07-12 Delisted — MRIS
• 2006-04-28 Listed $90,000 MRIS

Property tax history

-1.6%/yr

Latest (2025): $282 · +16.1% YoY. Source: county tax records.