2204 Christian St · Baltimore, MD 21223

$8,000

2 bd · 1.0 ba · 840 sqft · Townhouse public records · 83 Days on market

Built 1920 435 sqft lot ↓ 20% 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 +4.4/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

ONLINE AUCTION: This auction takes place on the Ashland Auction Group website bidding platform. Bidding begins 5/20/2026 @ 10:00 AM. Bidding ends 5/22/2026 @ 11:40 AM. The list price is the suggested opening bid. Deposit: $5,000. This two-story townhouse is located in the Carrollton Ridge neighborhood of Baltimore City. Residents can enjoy the nearby attractions and facilities such as the Carroll Park, Westside Shopping Center, and Grace Medical Center. The property is vacant and in need of repairs/renovations. It offers easy access to major traffic arteries including Wilkens Avenue (MD Route 372).

Key facts

• Built 1920
• Listed 82 days

🔨 Auction listing. The $8,000 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $37,644 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $8k.

Deal economics

• At list price, monthly cash flow is $918 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $8k).
• Recommended offer: $8k (6.0% below list) — sets the bar for market timing.
• Cap rate 35.6% 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 (+7.5%/yr); 425 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 39% of the median local income ($46k/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 $260 of loan paydown is wiped out by about $1k 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 + 7.5% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($8k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 14y ago; this cycle's ask has dropped $2k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 7.1% of price; 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 $7,520 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 3.96% ✓
• Cap rate: 35.56%
• Cash-on-cash: 104.53%
• DSCR: 5.65
• GRM: 2.1

CMA / ARV

• ARV (median comp): $37,644
• List price: $8,000
• Delta: -78.75%
• 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
2214 Wilkens Ave	0.04mi	3/1.0 (+1)	860 (+2%)	9mo	$65,000	$76	82
534 S Smallwood St	0.03mi	3/1.0 (+1)	912 (+9%)	9mo	$39,900	$44	72
308 S Payson St	0.23mi	3/1.0 (+1)	894 (+6%)	7mo	$25,000	$28	68
420 S Smallwood St	0.08mi	3/3.5 (+1)	910 (+8%)	4mo	$100,000	$110	64
347 S Mount St	0.46mi	2/1.0	900 (+7%)	9mo	$54,900	$61	59
1612 Lemmon St	0.55mi	2/1.0	744 (-11%)	1mo	$20,000	$27	55
1610 Lemmon St	0.55mi	2/1.0	744 (-11%)	1mo	$20,000	$27	54
1608 Lemmon St	0.56mi	2/1.0	744 (-11%)	1mo	$20,000	$27	54
1606 Lemmon St	0.56mi	2/1.0	744 (-11%)	1mo	$20,000	$27	54
1604 Lemmon St	0.56mi	1/1.0 (-1)	744 (-11%)	1mo	$20,000	$27	49
2659 Lehman St	0.39mi	2/1.5	960 (+14%)	8mo	$124,000	$129	49
1406 Lemmon St	0.70mi	3/1.5 (+1)	720 (-14%)	8mo	$155,000	$215	30

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 · 7.51% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.64×
• Total profit: $59,475
• Equity at exit: $5,613

10-year hold

• IRR: —
• Equity multiple: 16.09×
• Total profit: $159,051
• Equity at exit: $3,255

Cash invested: $10,540 (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 21223

• Rents YoY: 7.5%
• Active inventory: 425
• Price-to-rent: 0.4×

Monthly cashflow live

• Estimated rent: $1,492 high
• Mortgage (P&I): −$197
• Tax est. 1.5%: −$47 /mo · $565/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $918

Break-even live

Break-even rent $329

Max offer price $37,644

Occupancy floor 33%

Sensitivity live

Price	-10% $944	-5% $931	+0% $918	+5% $905	+10% $892
Rent	-10% $800	-5% $859	+0% $918	+5% $977	+10% $1,036
Rate	-1.0pp $937	-0.5pp $928	base $918	+0.5pp $908	+1.0pp $898

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: $9,411
• Closing costs: $1,129
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2540 Frederick Ave Baltimore, MD	3.0	1.0	1075	$1,400	$1.30	25d	1	0.34mi
332 S Franklintown Rd Unit 2 Baltimore, MD	2.0	1.0	776	$795	$1.02	25d	1	0.39mi
2657 Lehman St Unit 1 Baltimore, MD	2.0	1.0	1056	$1,000	$0.95	45d	1	0.40mi
2516 Hollins St Baltimore, MD	3.0	2.0	1100	$1,700	$1.55	45d	1	0.52mi
1712 W Lombard St #4 Baltimore, MD	1.0	1.0	550	$900	$1.64	45d	1	0.52mi
1918 W Baltimore St Baltimore, MD	2.0–3.0	1.0–2.0	857	$1,375	$1.60	45d	1	0.54mi
62 N Gorman Ave Baltimore, MD	3.0	2.0	1100	$2,500	$2.27	19d	1	0.58mi
1601 Frederick Ave Unit 3 Baltimore, MD	2.0	1.0	1050	$1,050	$1.00	5d	1	0.67mi
305 S Calhoun St Baltimore, MD	2.0	1.0	1000	$1,300	$1.30	23d	1	0.68mi
1324 W Lombard St Unit 1 Baltimore, MD	2.0	2.0	1100	$1,500	$1.36	25d	1	0.76mi
1324 W Lombard St Unit 2 Baltimore, MD	2.0	1.5	1100	$1,450	$1.32	45d	1	0.76mi
1315 Hollins St Unit 2 Baltimore, MD	3.0	2.0	1096	$1,950	$1.78	14d	1	0.79mi
1315 Hollins St Unit 2 Baltimore, MD	3.0	2.0	1096	$1,860	$1.70	5d	1	0.79mi
1432 Carroll St Baltimore, MD	2.0	1.5	912	$1,900	$2.08	45d	1	0.80mi
28 N Norris St Baltimore, MD	1.0	2.0	700	$1,450	$2.07	45d	1	0.81mi
1215 James St Baltimore, MD	2.0	1.0	960	$1,500	$1.56	45d	1	0.85mi
48 S Carrollton Ave Unit 4 Baltimore, MD	2.0	1.0	670	$1,600	$2.39	45d	1	0.88mi
1142 Sargeant St Baltimore, MD	3.0	2.0	1080	$1,601	$1.48	3d	1	0.93mi
1931 Griffis Ave Baltimore, MD	2.0	1.0	912	$1,349	$1.48	5d	1	0.93mi
2429 Washington Blvd Baltimore, MD	1.0	1.0	940	$600	$0.64	25d	1	0.93mi
1160 Washington Blvd Baltimore, MD	2.0	1.0	960	$1,575	$1.64	25d	1	0.93mi
1163 Washington Blvd Baltimore, MD	2.0	2.5	1012	$1,700	$1.68	14d	1	0.94mi
1127 Sargeant St Baltimore, MD	2.0	1.5	1080	$1,275	$1.18	25d	1	0.94mi
923 McHenry St Baltimore, MD	3.0	1.0	1008	$1,625	$1.61	45d	1	1.02mi
847 McHenry St Baltimore, MD	2.0	2.0	952	$1,795	$1.89	5d	1	1.07mi
853 Reinhart St Baltimore, MD	2.0	2.5	780	$1,800	$2.31	45d	1	1.10mi
101 N Schroeder St Baltimore, MD	3.0	1.0–2.0	1037	$2,481	$2.39	3d	12	1.14mi
1125 Wicomico St Baltimore, MD	3.0	3.0	1068	$1,955	$1.83	25d	1	1.18mi
805 Washington Blvd Unit B Baltimore, MD	2.0	2.0	1106	$1,650	$1.49	21d	1	1.18mi
805 Washington Blvd Unit A Baltimore, MD	2.0	2.0	1050	$1,650	$1.57	45d	1	1.18mi
519 Scott St Unit 1 Baltimore, MD	2.0	2.0	800	$2,000	$2.50	45d	1	1.21mi
776 Washington Blvd Unit 3F Baltimore, MD	1.0	1.0	800	$1,000	$1.25	45d	1	1.22mi
1315 Harlem Ave Unit B Baltimore, MD	2.0	1.0	900	$1,425	$1.58	25d	1	1.24mi
1315 Harlem Ave Unit C Baltimore, MD	2.0	1.0	900	$1,425	$1.58	45d	1	1.24mi
3310 Elbert St Baltimore, MD	2.0	1.0	920	$1,550	$1.68	25d	1	1.26mi
121 S Fremont Ave Baltimore, MD	1.0	1.0	582	$2,100	$3.61	21d	5	1.33mi
812 S Paca St Baltimore, MD	3.0	2.0	990	$1,500	$1.52	14d	1	1.33mi
3392 Saint Benedict St Baltimore, MD	2.0	1.0	864	$1,450	$1.68	25d	1	1.34mi
725 W Pratt St Baltimore, MD	1.0	1.0	584	$1,925	$3.29	11d	9	1.35mi
2301 Riggs Ave Baltimore, MD	3.0	2.0	1072	$1,600	$1.49	25d	1	1.36mi

Listing history 25 events

1. 2026-06-21
   days on market $8,000 Active 83 DOM
2. 2026-06-18
   days on market $8,000 Active 80 DOM
3. 2026-06-17
   days on market $8,000 Active 79 DOM
4. 2026-06-16
   days on market $8,000 Active 78 DOM
5. 2026-06-15
   days on market $8,000 Active 77 DOM
6. 2026-06-13
   days on market $8,000 Active 75 DOM
7. 2026-06-09
   days on market $8,000 Active 71 DOM
8. 2026-06-08
   days on market $8,000 Active 70 DOM
9. 2026-06-07
   days on market $8,000 Active 69 DOM
10. 2026-06-04
    days on market $8,000 Active 66 DOM
11. 2026-06-03
    days on market $8,000 Active 65 DOM
12. 2026-06-02
    days on market $8,000 Active 64 DOM
13. 2026-06-01
    days on market $8,000 Active 63 DOM
14. 2026-05-31
    days on market $8,000 Active 62 DOM
15. 2026-05-11
    price $8,000 605-char remark

    Show marketing remark (605 chars)

    ONLINE AUCTION: This auction takes place on the Ashland Auction Group website bidding platform. Bidding begins 5/20/2026 @ 10:00 AM. Bidding ends 5/22/2026 @ 11:40 AM. The list price is the suggested opening bid. Deposit: $5,000. This two-story townhouse is located in the Carrollton Ridge neighborhood of Baltimore City. Residents can enjoy the nearby attractions and facilities such as the Carroll Park, Westside Shopping Center, and Grace Medical Center. The property is vacant and in need of repairs/renovations. It offers easy access to major traffic arteries including Wilkens Avenue (MD Route 372).

16. 2026-03-30
    listed $10,000 Active 605-char remark

    Show marketing remark (605 chars)

    ONLINE AUCTION: This auction takes place on the Ashland Auction Group website bidding platform. Bidding begins 5/20/2026 @ 10:00 AM. Bidding ends 5/22/2026 @ 11:40 AM. The list price is the suggested opening bid. Deposit: $5,000. This two-story townhouse is located in the Carrollton Ridge neighborhood of Baltimore City. Residents can enjoy the nearby attractions and facilities such as the Carroll Park, Westside Shopping Center, and Grace Medical Center. The property is vacant and in need of repairs/renovations. It offers easy access to major traffic arteries including Wilkens Avenue (MD Route 372).

17. 2012-09-18
    historical 189-char remark

    Show marketing remark (189 chars)

    Local entity disposing all their properties. For full list, contact listing agent. Please take flashlight. All properties sold 'as is'- please strike paragraphs 18 and 21 from MAR contract.

18. 2012-09-18
    soldstatus $12,750 Sold 189-char remark

    Show marketing remark (189 chars)

    Local entity disposing all their properties. For full list, contact listing agent. Please take flashlight. All properties sold 'as is'- please strike paragraphs 18 and 21 from MAR contract.

19. 2012-09-18
    soldstatus $12,750

    Show marketing remark (189 chars)

    Local entity disposing all their properties. For full list, contact listing agent. Please take flashlight. All properties sold 'as is'- please strike paragraphs 18 and 21 from MAR contract.

20. 2012-08-30
    status Contingent (No Kick Out) 189-char remark

    Show marketing remark (189 chars)

    Local entity disposing all their properties. For full list, contact listing agent. Please take flashlight. All properties sold 'as is'- please strike paragraphs 18 and 21 from MAR contract.

21. 2012-08-29
    historical
22. 2012-08-25
    price $13,999 189-char remark

    Show marketing remark (189 chars)

    Local entity disposing all their properties. For full list, contact listing agent. Please take flashlight. All properties sold 'as is'- please strike paragraphs 18 and 21 from MAR contract.

23. 2012-08-07
    listed $14,000 Active 189-char remark

    Show marketing remark (189 chars)

    Local entity disposing all their properties. For full list, contact listing agent. Please take flashlight. All properties sold 'as is'- please strike paragraphs 18 and 21 from MAR contract.

24. 2012-08-07
    listed $13,999

    Show marketing remark (189 chars)

    Local entity disposing all their properties. For full list, contact listing agent. Please take flashlight. All properties sold 'as is'- please strike paragraphs 18 and 21 from MAR contract.

25. 1980-09-22
    soldstatus $10,000

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

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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,898
• − Mortgage interest: −$2,109
• − Property taxes: −$565
• − Insurance: −$188
• − Repairs & maintenance: −$1,432
• − Management: −$1,432
• − Depreciation: −$1,095
• Taxable income: $11,078
• Est. tax owed @ 24.0%: −$2,659
• After-tax cash flow: $8,359/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): 19,572
• Household income: $45,840
• Rent vs Own: 68.0% rent · 32.0% own
• Severe rent burden: 1755.0

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 (72%)
• Race & ethnicity: Black 72% White 16% Hispanic / Latino 7% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Romanian 1%
• Foreign-born: 8% · Canada
• Languages at home: 90% English-only · Spanish 6% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -97.99%
• Current HPI: 140.5836
• Rent YoY: ▲ 7.51%
• 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

-20.0% since first listed

11 events — show timeline

• 2026-05-11 Price Changed $8,000 BRIGHT MLS
• 2026-03-30 Listed $10,000 BRIGHT MLS
• 2012-09-18 Delisted — MRIS
• 2012-09-18 Sold (MLS) $12,750 BRIGHT MLS
• 2012-09-18 Sold (MLS) $12,750 MRIS
• 2012-08-30 Pending — MRIS
• 2012-08-29 Listing Removed — BRIGHT MLS
• 2012-08-25 Price Changed $13,999 MRIS
• 2012-08-07 Listed $14,000 MRIS
• 2012-08-07 Listed $13,999 BRIGHT MLS
• 1980-09-22 Sold (Public Records) $10,000 Public Records

Property tax history

+16.9%/yr

Latest (2025): $744 · +15.9% YoY. Source: county tax records.