2529-2531 E Monument St · Baltimore, MD 21205

$80,900

3 bd · 1.0 ba · 2,363 sqft · Townhouse · 1 Days on market

Built 1890 1,900 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
• Rent growth +5.0/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Affordable building offering a versatile mixed-use opportunity in a high-demand corridor near Johns Hopkins Hospital. This is a unique opportunity for business or live and work space. The first floor features the potential of a retail space suitable for a wide range of business uses. The second floor offers the potential of a spacious living area that can be used as an owner-occupied residence or as an income-producing unit to help offset the mortgage. Ideally located near established retailers, Northeast Market, and Johns Hopkins Hospital, this property benefits from strong foot traffic and convenient access to public transportation, with a bus line directly nearby. An excellent opportunit

Key facts

• Strong foot traffic
• Spacious living area
• Convenient access

Tags

• MIXED-USE OPPORTUNITY
• RETAIL SPACE
• SPACIOUS LIVING AREA
• INCOME-PRODUCING UNIT
• STRONG FOOT TRAFFIC
• CONVENIENT ACCESS

Property features AI

Finance

• Other: Fee simple ownership

Exterior

• Parking: On-street parking
• Utilities: Public water; Public septic
• Home design: Interior townhouse/rowhouse; Located within city limits (Baltimore City)
• Construction: Brick exterior; Permanent foundation; Year built per assessor
• Exterior features: Brick construction; Above-grade and below-grade structures noted

Interior

• Bedrooms: Three bedrooms on the main level
• Bathrooms: One full bathroom on the main level
• Interior features: Full unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $81k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $81k).
• Cap rate 26.0% 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 (+9.9%/yr); 143 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d 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 $2,386/mo this rent would consume 66% of the median local household income ($43k/yr) (locally 966% 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 $559 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 + 8.0% rent growth), your $23k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 4y 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.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $80,900

Questions for the listing agent

1. Built in 1890 — 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. 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.
6. 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.
7. 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: 2.95% ✓
• Cap rate: 25.96%
• Cash-on-cash: 70.24%
• DSCR: 4.13
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $437,155
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3121 Mcelderry St	0.45mi	3/3.0	2,316 (-2%)	0mo	$269,900	$117	67
532 N Luzerne Ave	0.09mi	4/3.5 (+1)	2,172 (-8%)	0mo	$255,000	$117	67
805 N Patterson Park Ave	0.22mi	4/4.5 (+1)	2,552 (+8%)	1mo	$280,000	$110	57
2010 E Lombard St	0.68mi	3/3.5	2,383 (+1%)	1mo	$500,000	$210	56
219 N Belnord Ave	0.27mi	4/3.5 (+1)	2,082 (-12%)	3mo	$300,000	$144	50
2038 E Pratt St	0.71mi	3/3.0	2,227 (-6%)	0mo	$570,000	$256	49
2119 E Lombard St E	0.64mi	4/2.5 (+1)	2,564 (+8%)	0mo	$760,000	$296	45
37 S Washington St	0.67mi	2/2.5 (-1)	2,180 (-8%)	1mo	$360,000	$165	44
3105 E Baltimore St	0.63mi	3/3.0	2,102 (-11%)	2mo	$430,588	$205	43
2820 E Baltimore St	0.50mi	4/2.5 (+1)	2,044 (-14%)	2mo	$525,000	$257	42
21 N Decker Ave	0.56mi	2/2.5 (-1)	2,040 (-14%)	4mo	$320,000	$157	37
108 S Washington St	0.72mi	4/4.0 (+1)	2,692 (+14%)	0mo	$499,000	$185	26

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 75.4%
• Equity multiple: 4.71×
• Total profit: $83,981
• Equity at exit: $12,062

10-year hold

• IRR: 80.5%
• Equity multiple: 11.57×
• Total profit: $239,402
• Equity at exit: $6,995

Cash invested: $22,652 (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 21205

• Home prices YoY: -5.8%
• Rents YoY: 9.9%
• Active inventory: 143
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $2,386 high
• Mortgage (P&I): −$424
• Tax est. 1.5%: −$101 /mo · $1,214/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$501
• Net cashflow: $1,326

Break-even live

Break-even rent $708

Max offer price $80,900

Occupancy floor 39%

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: $20,225
• Closing costs: $2,427
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
539 N Luzerne Ave Baltimore, MD	3.0	2.5	1702	$2,300	$1.35	43d	1	0.10mi
537 N Lakewood Ave Baltimore, MD	3.0	3.5	1755	$2,050	$1.17	43d	1	0.14mi
2431 McElderry St Baltimore, MD	4.0	2.5	1600	$2,100	$1.31	43d	1	0.14mi
533 N Lakewood Ave Baltimore, MD	4.0	3.5	1758	$4,500	$2.56	43d	1	0.14mi
733 N Linwood Ave Baltimore, MD	4.0	3.0	2410	$2,150	$0.89	43d	1	0.25mi
233 N Luzerne Ave Baltimore, MD	3.0	2.5	1700	$2,250	$1.32	22d	1	0.26mi
809 N Curley St Baltimore, MD	3.0	1.0	1746	$1,400	$0.80	22d	1	0.30mi
2903 Jefferson St Baltimore, MD	3.0	3.0	1609	$1,850	$1.15	43d	1	0.31mi
2619 E Fayette St Baltimore, MD	3.0	2.0	1600	$1,900	$1.19	43d	1	0.32mi
143 N Patterson Park Ave Baltimore, MD	4.0	3.5	1650	$3,700	$2.24	24d	1	0.40mi
141 N Patterson Park Ave Baltimore, MD	3.0	3.5	2264	$2,300	$1.02	43d	1	0.40mi
2200 E Fayette St Unit 2 2ND FLOOR Baltimore, MD	2.0	1.0	2205	$1,500	$0.68	43d	1	0.42mi
2706 E Biddle St Baltimore, MD	3.0	2.0	1577	$1,395	$0.88	43d	1	0.42mi
2040 Orleans St Baltimore, MD	4.0	1.5	1974	$2,100	$1.06	15d	1	0.45mi
11 N Streeper St Baltimore, MD	3.0	3.5	1800	$2,600	$1.44	43d	1	0.49mi
107 N Chester St Unit 2 Baltimore, MD	3.0	1.0	1750	$2,750	$1.57	43d	1	0.51mi
113 N Decker Ave Baltimore, MD	3.0	3.5	1800	$2,850	$1.58	24d	1	0.52mi
2115 E Fairmount Ave Baltimore, MD	3.0	2.5	1736	$2,795	$1.61	24d	1	0.53mi
2206 E Baltimore St Baltimore, MD	3.0	2.5	2612	$2,900	$1.11	22d	1	0.54mi
10 N Ellwood Ave Baltimore, MD	4.0	2.5	1768	$2,500	$1.41	43d	1	0.58mi
2621 E Oliver St Baltimore, MD	3.0	2.0	1600	$1,700	$1.06	24d	1	0.61mi
1403 N Linwood Ave Baltimore, MD	3.0	2.0	1660	$1,995	$1.20	43d	1	0.62mi
3212 E Baltimore St Baltimore, MD	2.0	3.0	1931	$2,350	$1.22	24d	1	0.66mi
1728 Lantern Mews Baltimore, MD	3.0	3.0	1600	$2,700	$1.69	18d	1	0.69mi
1724 Lantern Mews Baltimore, MD	2.0	4.0	1610	$2,600	$1.61	24d	1	0.69mi
1716 Lantern Mews Baltimore, MD	4.0	5.0	2016	$2,700	$1.34	43d	1	0.71mi
2522 E Federal St Baltimore, MD	2.0	2.0	1760	$1,400	$0.80	43d	1	0.71mi
1901 E Lombard St Baltimore, MD	2.0	1.0	2054	$2,200	$1.07	44d	1	0.77mi
14 S Ann St Baltimore, MD	3.0	2.5	2850	$2,550	$0.89	11d	1	0.81mi
1818 E Pratt St Apt A Baltimore, MD	3.0	2.5	1736	$2,500	$1.44	18d	1	0.85mi
249 S East Ave Baltimore, MD	2.0	2.0	1680	$2,250	$1.34	24d	1	0.85mi
300 S Robinson St Baltimore, MD	4.0	3.5	2604	$3,500	$1.34	43d	1	0.86mi
1607 E Biddle St Baltimore, MD	4.0	3.5	2160	$2,400	$1.11	24d	1	0.87mi
250 S Washington St Baltimore, MD	4.0	3.5	2261	$2,595	$1.15	24d	1	0.88mi
1829 N Port St Baltimore, MD	3.0	1.5	2000	$1,625	$0.81	43d	1	0.90mi
104 N Dallas St Baltimore, MD	3.0	2.5	1584	$2,500	$1.58	22d	1	0.95mi
1904 Bank St Baltimore, MD	3.0	3.5	1792	$3,250	$1.81	43d	1	0.96mi
602 S Streeper St Baltimore, MD	4.0	3.0	1980	$3,200	$1.62	24d	1	0.99mi
1532 N Broadway Baltimore, MD	3.0	4.0	2696	$2,700	$1.00	3d	1	0.99mi
2217 Fleet St Baltimore, MD	3.0	2.0	1598	$2,700	$1.69	11d	1	1.00mi

Listing history 2 events

1. 2026-06-19
   remarks 699-char remark
2. 2026-06-19
   listed $80,900 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $28,632
• − Mortgage interest: −$4,532
• − Property taxes: −$1,214
• − Insurance: −$404
• − Repairs & maintenance: −$2,291
• − Management: −$2,291
• − Depreciation: −$2,353
• Taxable income: $15,548
• Est. tax owed @ 24.0%: −$3,731
• After-tax cash flow: $12,179/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): 13,013
• Household income: $43,176
• Rent vs Own: 63.6% rent · 36.4% own
• Severe rent burden: 966.0

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 0.60)
• Race & ethnicity: Black 60% Hispanic / Latino 16% White 14% Two or more races 11% Asian 3%
• Hispanic origin (detail): Mexican 1% Cuban 1% Dominican 4%
• Common ancestry: Slovak 3% Romanian 1%
• Foreign-born: 16% · Canada, China
• Languages at home: 79% English-only · Spanish 11% Arabic 4% 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: ▼ -15.03%
• Current HPI: 244.1345
• Rent YoY: ▲ 9.88%
• 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

+1.3% since first listed

5 events — show timeline

• 2026-06-18 Listed $80,900 BRIGHT MLS
• 2022-07-12 Listing Removed — BRIGHT MLS
• 2022-06-13 Relisted — BRIGHT MLS
• 2022-06-12 Listing Removed — BRIGHT MLS
• 2022-05-19 Listed $79,900 BRIGHT MLS