3215 Dorchester Rd · Baltimore, MD 21215

$260,000

5 bd · 2.0 ba · 2,940 sqft · SingleFamily public records · 30 Days on market

Built 1935 9,100 sqft lot $88/sqft · 34% below area Est $395k · 34% under

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Why this score? — see what drove the C- 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 +17.4/30.0
• ARV discount +15.0/15.0
• 1% rule +5.5/10.0
• DSCR +5.4/10.0
• Livability +3.8/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This large detached Colonial offers a classic layout and generous living space, providing an excellent opportunity to update and customize to your style. The home features multiple living and dining areas, well-sized bedrooms, and a traditional floor plan that offers flexibility for a variety of needs. With cosmetic updates, this property can be refreshed while maintaining its original character and charm. Conveniently located near local amenities and commuter routes, it offers both space and potential. Schedule your showing today to explore all this home has to offer! CASH or HARD MONEY Only.

Key facts

• 9,100 sq ft lot
• Garage
• Built 1935

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $197 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $260k).
• Recommended offer: $256k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 6.0% in Baltimore — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 (+2.4%/yr); 351 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% 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).
• At $2,729/mo this rent would consume 63% of the median local household income ($52k/yr) (locally 3644% 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 $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($256k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.
• Current owner paid $58k; list at $260k implies a 346% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1935 — 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 $256,100 (1.5% below list)

Questions for the listing agent

1. Built in 1935 — 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: 1.05% ✓
• Cap rate: 7.20%
• Cash-on-cash: 3.25%
• DSCR: 1.14
• GRM: 7.9

CMA / ARV

• ARV (median comp): $394,694
• List price: $260,000
• Delta: -34.13%
• 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
3415 Springdale Ave	0.32mi	6/3.5 (+1)	2,737 (-7%)	2mo	$443,500	$162	61
3401 Powhatan Ave	0.42mi	4/3.5 (-1)	3,083 (+5%)	3mo	$299,900	$97	59
3704 Egerton Rd	0.50mi	4/3.5 (-1)	3,050 (+4%)	1mo	$426,500	$140	59
3703 Egerton Rd	0.49mi	5/4.5	3,051 (+4%)	3mo	$479,900	$157	58
3514 Fairview Ave	0.42mi	5/4.5	3,143 (+7%)	2mo	$515,000	$164	57
2912 Allendale Rd	0.65mi	5/3.0	2,858 (-3%)	7mo	$349,900	$122	55
3923 Fairview Ave	0.75mi	5/3.0	2,788 (-5%)	1mo	$360,000	$129	52
3417 Springdale Ave	0.32mi	5/5.5	3,261 (+11%)	3mo	$459,581	$141	50
2707 Elsinore Ave	0.66mi	4/4.0 (-1)	3,050 (+4%)	5mo	$450,000	$148	46
3504 Callaway Ave	0.46mi	5/4.5	3,314 (+13%)	5mo	$400,000	$121	43
3817 Copley Rd	0.51mi	6/4.0 (+1)	3,297 (+12%)	1mo	$372,000	$113	42
3710 W Forest Park Ave	0.54mi	6/4.5 (+1)	3,300 (+12%)	4mo	$520,000	$158	36

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 · 2.41% rent growth · sell at horizon

5-year hold

• IRR: -11.8%
• Equity multiple: 0.57×
• Total profit: $-31,051
• Equity at exit: $38,767

10-year hold

• IRR: -3.6%
• Equity multiple: 0.77×
• Total profit: $-16,837
• Equity at exit: $22,480

Cash invested: $72,800 (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 21215

• Rents YoY: 2.4%
• Active inventory: 351
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,729 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$487 /mo · $5,841/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$573
• Net cashflow: $197

Break-even live

Break-even rent $2,479

Max offer price $260,000

Occupancy floor 88%

Sensitivity live

Price	-10% $344	-5% $271	+0% $197	+5% $123	+10% $50
Rent	-10% $-19	-5% $89	+0% $197	+5% $305	+10% $413
Rate	-1.0pp $328	-0.5pp $263	base $197	+0.5pp $130	+1.0pp $61

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2510 Roslyn Ave Baltimore, MD	6.0	5.0	2663	$4,200	$1.58	44d	1	0.77mi
4029 Fairview Ave Baltimore, MD	5.0	4.5	2653	$3,200	$1.21	44d	1	0.87mi
3030 Windsor Ave Baltimore, MD	4.0	1.5	2124	$1,995	$0.94	5d	1	0.94mi
2128 N Pulaski St Baltimore, MD	4.0	3.0	2166	$2,200	$1.02	44d	1	1.34mi
2401 W North Ave Baltimore, MD	5.0	2.0	2037	$1,800	$0.88	5d	1	1.37mi

Listing history 11 events

1. 2026-06-07
   statusdays on market $260,000 Pending 30 DOM
2. 2026-06-04
   days on market $260,000 Active 29 DOM
3. 2026-06-03
   days on market $260,000 Active 28 DOM
4. 2026-06-02
   days on market $260,000 Active 27 DOM
5. 2026-06-01
   days on market $260,000 Active 26 DOM
6. 2026-05-31
   days on market $260,000 Active 25 DOM
7. 2026-05-13
   status Active 600-char remark

   Show marketing remark (600 chars)

   This large detached Colonial offers a classic layout and generous living space, providing an excellent opportunity to update and customize to your style. The home features multiple living and dining areas, well-sized bedrooms, and a traditional floor plan that offers flexibility for a variety of needs. With cosmetic updates, this property can be refreshed while maintaining its original character and charm. Conveniently located near local amenities and commuter routes, it offers both space and potential. Schedule your showing today to explore all this home has to offer! CASH or HARD MONEY Only.

8. 2026-04-16
   status Pending 600-char remark

   Show marketing remark (600 chars)

   This large detached Colonial offers a classic layout and generous living space, providing an excellent opportunity to update and customize to your style. The home features multiple living and dining areas, well-sized bedrooms, and a traditional floor plan that offers flexibility for a variety of needs. With cosmetic updates, this property can be refreshed while maintaining its original character and charm. Conveniently located near local amenities and commuter routes, it offers both space and potential. Schedule your showing today to explore all this home has to offer! CASH or HARD MONEY Only.

9. 2026-04-09
   listed $260,000 Active 600-char remark

   Show marketing remark (600 chars)

   This large detached Colonial offers a classic layout and generous living space, providing an excellent opportunity to update and customize to your style. The home features multiple living and dining areas, well-sized bedrooms, and a traditional floor plan that offers flexibility for a variety of needs. With cosmetic updates, this property can be refreshed while maintaining its original character and charm. Conveniently located near local amenities and commuter routes, it offers both space and potential. Schedule your showing today to explore all this home has to offer! CASH or HARD MONEY Only.

10. 2004-08-13
    soldstatus $58,290
11. 1987-07-21
    soldstatus $43,500

ⓘ 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: $5,841 · $487/mo
• Projected year-2 tax: $5,841 · $487/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 6/10 Major 7 d/yr ≥104°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: $32,744
• − Mortgage interest: −$14,564
• − Property taxes: −$5,841
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,620
• − Management: −$2,620
• − Depreciation: −$7,564
• Taxable loss: −$1,764
• Est. tax savings @ 24.0%: +$423
• After-tax cash flow: $2,788/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): 52,229
• Household income: $51,587
• Rent vs Own: 45.2% rent · 54.8% own
• Severe rent burden: 3644.0

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 17% Hispanic / Latino 5% Two or more races 4% Asian 1%
• Common ancestry: Scotch-Irish 2% Romanian 2% Italian 1%
• Foreign-born: 9% · Canada, South Korea
• Languages at home: 91% English-only · Spanish 4% French/Haitian/Cajun 1% 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: ▼ -318.58%
• Current HPI: 291.4926
• Rent YoY: ▲ 2.41%
• 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

+497.7% since first listed

5 events — show timeline

• 2026-05-13 Relisted — BRIGHT MLS
• 2026-04-16 Pending — BRIGHT MLS
• 2026-04-09 Listed $260,000 BRIGHT MLS
• 2004-08-13 Sold (Public Records) $58,290 Public Records
• 1987-07-21 Sold (Public Records) $43,500 Public Records

Property tax history

+1.2%/yr

Latest (2025): $5,841 · +5.3% YoY. Source: county tax records.