4120 Parkside Dr · Baltimore, MD 21206

$75,000

3 bd · 1.5 ba · 1,304 sqft · Townhouse public records · 36 Days on market

Built 1929 2,178 sqft lot $58/sqft · 48% below area Est $145k · 48% under

---

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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

ONLINE AUCTION: This auction takes place on the Ashland Auction Group Website Bidding Platform. Bidding begins Bidding begins 6/22/2026 @ 10:00 AM. Bidding ends 6/24/2026@ 12:30 PM. List Price is Suggested Opening Bid. Deposit: $10,000. 2 Story porch-front townhouse located in the Belair-Parkside area. JUST MINUTES to Herring Run Park and Lake Montebello. Easy access to major traffic artery Belair Rd. Property is believed to be occupied.

Key facts

• Built 1929
• Listed 36 days

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public sewer; Community water
• Home design: Interior townhouse/rowhouse; Fee simple ownership
• Construction: Brick construction; Asphalt roof; Foundation: other; Above-grade and below-grade other structures; Year built per assessor
• Exterior features: No tidal water on the lot

Interior

• Bedrooms: Three bedrooms on the main level
• Bathrooms: Two full bathrooms (one on first upper level, one on first lower level)
• Heating & cooling: Radiator heating fueled by natural gas; Central air conditioning (natural gas)
• Interior features: Basement present (other); Living area per assessor

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $75k.

Deal economics

• At list price, monthly cash flow is $870 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.
• Cap rate 20.2% 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 (+4.4%/yr); 173 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• This rent runs 36% of the median local income ($65k/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 $519 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 + 4.4% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 9y 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: property tax is 3.4% of price; built in 1929 — 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 $72,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1929 — 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. 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: 2.55% ✓
• Cap rate: 20.21%
• Cash-on-cash: 49.70%
• DSCR: 3.21
• GRM: 3.3

CMA / ARV

• ARV (median comp): $144,504
• List price: $75,000
• Delta: -48.10%
• 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
4235 Seidel Ave	0.26mi	3/1.5	1,280 (-2%)	2mo	$91,000	$71	83
4323 Sheldon Ave	0.25mi	3/2.0	1,280 (-2%)	2mo	$245,000	$191	82
3406 Ramona Ave	0.43mi	3/2.0	1,408 (+8%)	0mo	$85,000	$60	64
2902 Clifton Park Ter	0.67mi	3/1.5	1,344 (+3%)	1mo	$66,000	$49	63
4629 Chatford Ave	0.62mi	4/1.5 (+1)	1,272 (-2%)	2mo	$170,000	$134	60
2821 Erdman Ave	0.64mi	2/2.0 (-1)	1,260 (-3%)	0mo	$75,000	$60	58
3571 Dudley Ave	0.64mi	3/2.0	1,400 (+7%)	1mo	$175,000	$125	55
4603 Chatford Ave	0.58mi	3/1.5	1,170 (-10%)	1mo	$205,000	$175	55
3532 Cliftmont Ave	0.63mi	3/2.0	1,200 (-8%)	2mo	$168,000	$140	54
3114 Mareco Ave	0.68mi	3/2.0	1,410 (+8%)	2mo	$125,000	$89	51
2846 Lake Ave	0.48mi	4/2.5 (+1)	1,455 (+12%)	2mo	$235,000	$162	48
4718 Parkside Dr	0.69mi	2/2.0 (-1)	1,440 (+10%)	0mo	$214,990	$149	43

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 · 4.43% rent growth · sell at horizon

5-year hold

• IRR: 49.2%
• Equity multiple: 3.20×
• Total profit: $46,133
• Equity at exit: $11,183

10-year hold

• IRR: 55.4%
• Equity multiple: 6.89×
• Total profit: $123,698
• Equity at exit: $6,485

Cash invested: $21,000 (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 21206

• Rents YoY: 4.4%
• Active inventory: 173
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,910 high
• Mortgage (P&I): −$393
• Tax from tax record: −$215 /mo · $2,575/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$401
• Net cashflow: $870

Break-even live

Break-even rent $809

Max offer price $75,000

Occupancy floor 49%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4024 Eierman Ave Baltimore, MD	3.0	2.0	1136	$1,825	$1.61	43d	1	0.10mi
4400 Asbury Ave Baltimore, MD	3.0	2.0	1270	$1,995	$1.57	4d	1	0.22mi
4320 Sheldon Ave Baltimore, MD	3.0	1.5	1280	$1,800	$1.41	23d	1	0.28mi
3028 Kenyon Ave Baltimore, MD	2.0	2.0	1075	$1,395	$1.30	43d	1	0.31mi
2735 Chesterfield Ave Baltimore, MD	3.0	2.5	1536	$2,000	$1.30	10d	1	0.34mi
2848 Pelham Ave Baltimore, MD	3.0	2.0	1164	$1,700	$1.46	43d	1	0.35mi
2837 Pelham Ave Baltimore, MD	4.0	2.0	1164	$1,675	$1.44	43d	1	0.37mi
2817 Pelham Ave Baltimore, MD	3.0	2.0	1464	$1,950	$1.33	23d	1	0.37mi
3300 Dudley Ave Baltimore, MD	4.0	2.0	1724	$2,200	$1.28	43d	1	0.41mi
3305 Dudley Ave Baltimore, MD	3.0	2.0	1413	$1,950	$1.38	43d	1	0.42mi
3515 Parklawn Ave Baltimore, MD	3.0	2.0	1240	$1,700	$1.37	2d	1	0.44mi
2828 Lake Ave Baltimore, MD	3.0	2.0	1164	$1,850	$1.59	4d	1	0.50mi
4409 Moravia Rd Baltimore, MD	2.0	1.0	861	$1,385	$1.61	43d	3	0.50mi
3436 Cardenas Ave Baltimore, MD	2.0	1.0	1146	$1,395	$1.22	43d	1	0.51mi
3551 Shannon Dr Baltimore, MD	3.0	2.0	1485	$2,358	$1.59	23d	1	0.60mi
3566 Dudley Ave Baltimore, MD	2.0	1.0	896	$1,800	$2.01	23d	1	0.64mi
3573 Shannon Dr Baltimore, MD	4.0	2.0	1493	$2,300	$1.54	17d	1	0.65mi
3544 Chesterfield Ave Baltimore, MD	3.0	1.5	1200	$1,635	$1.36	43d	1	0.65mi
4718 Blue Ridge Ave Baltimore, MD	4.0	3.0	1744	$2,400	$1.38	11d	1	0.67mi
3519 Kentucky Ave Baltimore, MD	3.0	2.0	1536	$2,100	$1.37	10d	1	0.71mi
3572 Juneway Unit 1 Baltimore, MD	2.0	1.0	1800	$1,200	$0.67	43d	1	0.72mi
3525 Kentucky Ave Baltimore, MD	3.0	1.5	1536	$1,950	$1.27	43d	1	0.72mi
4517 Woodlea Ave Baltimore, MD	2.0	2.0	1326	$1,900	$1.43	2d	1	0.75mi
4104 Parkwood Ave Baltimore, MD	3.0	1.0	1224	$2,800	$2.29	23d	1	0.79mi
3610 Elmley Ave Baltimore, MD	2.0	1.5	1200	$1,550	$1.29	20d	1	0.80mi
3551 Elmley Ave Baltimore, MD	3.0	1.5	1872	$2,095	$1.12	23d	1	0.85mi
4023 Belwood Ave Baltimore, MD	3.0	1.0	1080	$1,995	$1.85	43d	1	0.86mi
4007 Biddison Ln Apt 1 Baltimore, MD	2.0	1.0	1000	$1,279	$1.28	17d	1	0.91mi
4901 Gunther Ave Baltimore, MD	1.0–3.0	1.0–2.0	742	$1,463	$1.97	2d	1	0.91mi
4022 Ardley Ave Baltimore, MD	2.0	1.0	896	$1,750	$1.95	43d	1	0.92mi
3512 Elmora Ave Baltimore, MD	3.0	1.5	1472	$1,900	$1.29	20d	1	0.94mi
3309 Southern Ave Unit 2 Baltimore, MD	2.0	1.0	1200	$1,600	$1.33	12d	1	0.95mi
3603 Ravenwood Ave Unit 1 Baltimore, MD	4.0	1.0	1566	$1,600	$1.02	43d	1	0.97mi
4116 Raymonn Ave Baltimore, MD	3.0	1.5	1244	$1,950	$1.57	43d	1	0.97mi
3902 Erdman Ave Unit 1 Baltimore, MD	2.0	1.0	1000	$1,275	$1.27	23d	1	0.97mi
3802 Biddison Ln Baltimore, MD	4.0	1.5	1443	$2,024	$1.40	11d	1	0.98mi
3914 Erdman Ave #1 Baltimore, MD	3.0	1.0	1200	$1,319	$1.10	17d	1	0.99mi
3335 Lyndale Ave Baltimore, MD	2.0	2.0	1344	$1,600	$1.19	23d	1	1.00mi
3317 Lyndale Ave Baltimore, MD	3.0	1.0	900	$1,300	$1.44	43d	1	1.01mi
3315 Lyndale Ave Baltimore, MD	2.0	1.5	896	$1,650	$1.84	17d	1	1.02mi

Listing history 21 events

1. 2026-06-09
   days on market $75,000 Active 36 DOM
2. 2026-06-08
   days on market $75,000 Active 35 DOM
3. 2026-06-07
   remarks 442-char remark
4. 2026-06-07
   days on market $75,000 Active 34 DOM
5. 2026-06-04
   days on market $75,000 Active 31 DOM
6. 2026-06-03
   days on market $75,000 Active 30 DOM
7. 2026-06-02
   days on market $75,000 Active 29 DOM
8. 2026-06-01
   days on market $75,000 Active 28 DOM
9. 2026-05-31
   days on market $75,000 Active 27 DOM
10. 2026-05-04
    listed $75,000 Active 441-char remark
11. 2018-05-01
    historical
12. 2018-05-01
    historical Expired
13. 2018-03-02
    price
14. 2018-01-16
    listed $129,999 Active
15. 2018-01-16
    listed Active
16. 2017-02-21
    historical Withdrawn
17. 2017-02-21
    historical
18. 2017-01-11
    listed Active
19. 2017-01-11
    listed $110,000
20. 2008-11-19
    soldstatus $121,000
21. 1986-02-10
    soldstatus $42,000

ⓘ 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: $2,575 · $215/mo
• Projected year-2 tax: $2,575 · $215/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $22,920
• − Mortgage interest: −$4,201
• − Property taxes: −$2,575
• − Insurance: −$375
• − Repairs & maintenance: −$1,834
• − Management: −$1,834
• − Depreciation: −$2,182
• Taxable income: $9,920
• Est. tax owed @ 24.0%: −$2,381
• After-tax cash flow: $8,056/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): 48,902
• Household income: $64,531
• Rent vs Own: 46.8% rent · 53.2% own
• Severe rent burden: 2317.0

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 (73%)
• Race & ethnicity: Black 73% White 20% Two or more races 3% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 3% Ukrainian 1%
• Foreign-born: 8% · Canada
• Languages at home: 92% English-only · Spanish 2% Arabic 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: ▼ -191.83%
• Current HPI: 284.5645
• Rent YoY: ▲ 4.43%
• 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

+78.6% since first listed

13 events — show timeline

• 2026-06-10 Listing Removed — BRIGHT MLS
• 2026-05-04 Listed $75,000 BRIGHT MLS
• 2018-05-01 Listing Removed — BRIGHT MLS
• 2018-05-01 Delisted — MRIS
• 2018-03-02 Price Changed — MRIS
• 2018-01-16 Listed — MRIS
• 2018-01-16 Listed $129,999 BRIGHT MLS
• 2017-02-21 Listing Removed — BRIGHT MLS
• 2017-02-21 Delisted — MRIS
• 2017-01-11 Listed — MRIS
• 2017-01-11 Listed $110,000 BRIGHT MLS
• 2008-11-19 Sold (Public Records) $121,000 Public Records
• 1986-02-10 Sold (Public Records) $42,000 Public Records

Property tax history

-0.8%/yr

Latest (2025): $2,575 · +9.1% YoY. Source: county tax records.