Penrose Homes with Ground Rent Ownership

Penrose Homes with Ground Rent Ownership

Welcome to Penrose, a charming subdivision nestled in the heart of Baltimore City, Maryland. Known for its vibrant community spirit and convenient location, Penrose offers a unique blend of urban living and suburban tranquility. This charming neighborhood is perfect for those who appreciate the rich history and culture that Baltimore has to offer while enjoying the comforts of a close-knit community.

One of the distinctive features of homes in Penrose is the ground rent ownership model, which is a unique aspect of property ownership in this area. In this model, homeowners pay an annual fee to the ground rent owner, typically the original landowner, while retaining ownership of their home. This arrangement can provide an affordable entry point into homeownership, making Penrose an attractive option for first-time buyers or those seeking to invest in real estate.

The homes in Penrose reflect a variety of architectural styles, from charming bungalows to classic row houses, each with its own character and appeal. Many properties boast spacious yards, perfect for outdoor gatherings or gardening enthusiasts. The community is also conveniently located near public transportation, shopping, and recreational parks, ensuring that residents have easy access to all the amenities they need.

Whether you’re looking for a cozy family home or a smart investment opportunity, Penrose invites you to explore its welcoming streets and discover the potential that awaits. Come be a part of this vibrant community, where tradition meets modern living in the heart of Baltimore!

Newest Penrose Homes with Ground Rent Ownership

$120,000
2 Beds ⋅ 2 Baths ⋅ MDBA2223504 MLS
Welcome to 2221 W. Lexington Street, a charming 2-bedroom, 1.5-bath brick rowhome on a tree-lined street in West Baltimore. This inviting home features hardwood floors, a solid wood staircase, and a spacious den between the bedrooms—perfect for a home office, family room, or flex space. Relax on the welcoming front porch or explore the potential of the large unfinished basement, offering ample storage and endless possibilities for customization. Conveniently located on the MTA CityLink Blue bus route and just minutes from the West Baltimore MARC Station, this home provides easy access to downtown Baltimore, shopping, dining, entertainment, hospitals, schools, and major commuter routes. Whether you're a first-time homebuyer or an investor, this home offers comfort, convenience, and opportunity in a well-connected location.

2221 W Lexington St, Baltimore
$30,000
2 Beds ⋅ 1 Baths ⋅ MDBA2223746 MLS
ONLINE AUCTION: This auction takes place on the Ashland Auction Group website bidding platform. Bidding begins 7/29/2026, 10:00 AM. Bidding ends 7/31/2026, 11:20 AM. The list price is the suggested opening bid. Deposit: $5,000. This two-story townhouse is located in the Penrose/Fayette neighborhood of Baltimore City. Residents can enjoy the nearby attractions and facilities such as the Grace Medical Center, Westside Shopping Center, and West Baltimore MARC Station. The property is vacant. It has easy access to major traffic arteries including U.S. Route 40 (W. Fayette Street) and Martin Luther King Jr. Boulevard, connecting residents to nearby destinations throughout Baltimore.

2142 W Fayette St, Baltimore
$179,000
3 Beds ⋅ 1 Baths ⋅ MDBA2221870 MLS
Welcome to 1921 W Fayette Street, a thoughtfully maintained Baltimore rowhome offering comfort and convenience in the heart of the city. Step inside to find spacious living and dining areas that flow seamlessly into an open kitchen, fully equipped with a pantry, stainless steel appliances, and plenty of room for cooking and gathering. This three-bedroom, one-bath home features durable luxury vinyl plank flooring on the main level and cozy carpeting on the second floor, creating inviting spaces for everyday living. Enjoy being close to local parks like Carroll Park and Union Square Park, where you can take advantage of open green space, playgrounds, and community events. Commuting is made easy with nearby access to the Metro Subway, Light Rail, and major highways including I-95, I-295, and I-83. Downtown Baltimore, the Inner Harbor, and Camden Yards are just minutes away, offering endless options for dining, shopping, and entertainment. This home may also qualify for Baltimore City and state homebuyer assistance grants, making ownership more affordable and accessible. With spacious living areas, modern updates, and a convenient central location, it is an excellent choice for your next home.

1921 W Fayette St, Baltimore
$40,000
2 Beds ⋅ 1 Baths ⋅ MDBA2221698 MLS
Nestled in the Penrose neighborhood, this 2-bedroom, 1-bathroom townhouse exudes warmth and character. Built in 1920, the home showcases classic Federal architectural style with a timeless brick façade. Step inside to discover a traditional floor plan with wood floors that flows from the living room to dining area. The upper-level features two well-appointed bedrooms and a full bathroom with a tub shower, providing comfort and functionality. The unfinished basement offers endless possibilities for customization, whether you envision a home gym, recreation room, or additional storage space. Home is located in a vibrant community with easy access to local dining, amenities, public transportation and market. Don't miss the opportunity to make this townhouse your own!

2123 W Lexington St, Baltimore
$30,000
3 Beds ⋅ 1 Baths ⋅ MDBA2221244 MLS
ONLINE AUCTION: This auction takes place on the Ashland Auction Group website bidding platform. Bidding begins 7/27/2026, 10:00 AM. Bidding ends 7/29/2026, 11:00 AM. The list price is the suggested opening bid. Deposit: $5,000. This two-story porch-front townhouse is located in the Penrose/Fayette Street Outreach neighborhood of Baltimore City. Residents can enjoy the nearby attractions and facilities such as the West Baltimore MARC Train Station, Westside Shopping Center, Grace Medical Center, and Lower Gwynns Falls Park. The property is vacant and in need of repairs. Well-located in Baltimore’s historic West Baltimore corridor, this property offers convenient access to downtown, major commuter routes, and nearby neighborhood amenities, presenting a strong opportunity for renovation or investment potential.

2327 W Lexington St, Baltimore
$25,000
3 Beds ⋅ 1 Baths ⋅ MDBA2220122 MLS
ONLINE AUCTION: This auction takes place on the Ashland Auction Group website bidding platform. Bidding begins 8/11/2026, 10:00 AM. Bidding ends 8/13/2026, 12:30 PM. The list price is the suggested opening bid. Deposit: $5,000. This two-story porch-front townhouse is located in the Penrose/Fayette Street Outreach neighborhood of Baltimore City. Residents can enjoy the nearby attractions and facilities such as the West Baltimore MARC Train Station, Grace Medical Center, Lower Gwynns Falls Park, and Westside Shopping Center. The property is vacant and in need of repairs. Conveniently located near N Monroe Street, a key Baltimore traffic artery providing easy access to surrounding neighborhoods, major routes, and city amenities.

1915 W Saratoga St, Baltimore
$164,900
3 Beds ⋅ 3 Baths ⋅ MDBA2215964 MLS
Fully renovated 3-bedroom, 2.5-bath Baltimore City rowhouse located in the Penrose community. This beautiful, updated home features an open-concept main level, luxury vinyl plank flooring, spacious living room, separate dining room, and an updated spacious kitchen with gas cooking and new appliances and a half bath on the main level. Outdoor features include a deck off the rear of the home, a fenced in backyard, street parking as well as a parking lot in the rear of the home for extra parking. The home is modern, gives a luxury comfort, and is move in ready. Close to public transit hub and near downtown for all your entertainment in this great city of Baltimore.

322 N Monroe St, Baltimore
$10,000
3 Beds ⋅ 1 Baths ⋅ MDBA2205334 MLS
ONLINE AUCTION: This auction takes place on the Ashland Auction Group website bidding platform. Bidding begins 8/11/2026, 10:00 AM. Bidding ends 8/13/2026, 1:15 PM. The list price is the suggested opening bid. Deposit: $5,000. This two-story townhouse is located in the Penrose/Fayette Street Outreach neighborhood of Baltimore City. Residents can enjoy the nearby facilities and attractions such as the Grace Medical Center and Gwynns Falls Park. This property is vacant. The area provides easy access to the major traffic artery, W Franklin St, connecting to other parts of Baltimore.

516 N Franklintown Rd N, Baltimore
$134,500
3 Beds ⋅ 1 Baths ⋅ MDBA2199556 MLS
Nestled in the charming Lexington neighborhood, this exquisite AirLite townhouse offers a perfect blend of comfort and sophistication. With three spacious bedrooms and a beautifully appointed full bathroom, this home is designed for both relaxation and entertaining. The classic brick exterior exudes timeless elegance, while the inviting interior beckons you to unwind. Step inside to discover a thoughtfully laid-out floor plan that maximizes space and natural light. The potential for customization is limitless, allowing you to tailor the space to your unique lifestyle. Enjoy the convenience of on-street parking, making it easy for guests to visit. The surrounding community is rich with amenities, offering a vibrant lifestyle just moments from your doorstep. Explore local parks, boutique shops, and delightful dining options that make this neighborhood truly special. This property is not just a house; it's a place to create lasting memories. Experience the warmth of home in a setting that combines modern living with classic charm. Don't miss the opportunity to make this enchanting townhouse your own and embrace the exclusive lifestyle it offers.

39 N Gorman Ave, Baltimore
$106,900
3 Beds ⋅ 1 Baths ⋅ MDBA2186206 MLS
NEW ROOF! This well-maintained rowhouse is perfect for an investor or someone who is looking for their first home. The home features hardwood flooring, balcony, a rear patio, spacious rooms, high ceilings, updated appliances, cabinets, bathroom and windows. Enjoy convenient access to nearby parks such as Carroll Park and Union Square Park, offering open green spaces, playgrounds, and community events perfect for outdoor recreation. Close proximity to the metro station, Light Rail, I-95, I-295, and I-83. Downtown Baltimore, the Inner Harbor, and Camden Yards are just minutes away, providing a wide variety of dining, shopping, and entertainment options. Additionally, this property may qualify for Baltimore City and State homebuyer assistance programs, making homeownership more attainable and affordable. Brand-new roof that was installed very recently, providing added value, durability, and peace of mind for the future homeowner.

1942 W Fayette St, Baltimore
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