Yeah most homes in Baltimore were constructed pre 1950. There may be several homes under the $200K price point in "desirable" neighborhoods, but will need significant renovations or upkeep in the coming years. Your point still does not address the fact that equity firms are buying up properties at a rapid pace in this city and it is getting worse. This objective fact can also be verified.

That's not true at all. Homeowner here. I get multiple calls per week asking if I want to sell my house. There are signs all over the city offering to buy homes cash, as is. Plenty of out of state property owners as well, just sitting on vacants and waiting for the neighborhoods to gentrify.

https://www.baltimoresun.com/news/investigations/bs-bz-baltimore-landlords-investor-homes-20221028-v5mmhm7aubbrbdw2zngmnjiuri-story.html