1506 N Forest Park Ave · Woodlawn, MD 21207

$207,900

3 bd · 1.5 ba · 1,200 sqft · Townhouse public records · 2 Days on market

Built 1955 2,400 sqft lot Est $212k · at est. $2/mo HOA

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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 +18.5/30.0
• Appreciation +9.8/10.0
• ARV discount +8.5/15.0
• DSCR +5.8/10.0
• 1% rule +4.6/10.0
• Livability +3.9/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks MLS

3 BR 1.5 Ba Brick Row Home. Oak kitchen cabinets, Hardwoods, Fenced back yard. Washer & dryer. Close to SSA, HCFA, Public Transportation, Easy access to Balto City. . * * * BANK OWNED PROPERTY BEING SOLD "AS IS". BUYER TO VERIFY ALL INFORMATION INCLUDING GROUND RENT (IF ONE EXISTS, SELLER WILL NOT REDEEM). BANK ADDENDUMS TO BE SUBMITTED WITH OFFER.

Key facts

• $2 HOA
• Built 1955
• Listed 2 days

Property features AI

Finance

• Other: Approximately 1,200 sq. ft. finished above grade and 600 sq. ft. below grade (assessor sources)
• HOA & community: HOA fee of $20 annually

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Electric for heating and cooling; Natural gas hot water
• Home design: Interior townhouse / rowhouse; Fee simple ownership
• Construction: Brick construction; Asphalt roof; Slab foundation; Built year per assessor
• Exterior features: No tidal water

Interior

• Kitchen: Refrigerator; Stove
• Bedrooms: Three bedrooms on the first upper level
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Forced air heating (electric); Central air conditioning (electric)
• Interior features: Attic; Dining area; Basement with connecting stairway and rear entrance
• Laundry & utility: Washer; Dryer; Natural gas hot water

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $208k.

Deal economics

• At list price, monthly cash flow is $199 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $199k (4.1% below list).
• Recommended offer: $199k (4.1% below list) — sets the bar for 1% rule.
• Cap rate 7.4% vs local median 4.3% in Woodlawn — 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 77/100 on livability (#78 in MD, #2,926 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, employment A-; Watch: amenities D+, crime F.
• Baltimore County Public Schools (suburban): math 15% / reading 34% proficiency, ranked #11 of 24 in MD (top 46%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+5.2%/yr); 126 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 1,511 units permitted in Baltimore County in 2024 (643 in 5+ unit buildings).

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $20k appreciation (9.5% local appreciation)).
• Baltimore County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (9.5% appreciation + 5.2% rent growth), your $58k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 18y 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.
• Current owner paid $132k; list at $208k implies a 57% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 24% 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 $199,372 (4.1% below list)

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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?
6. 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.
7. 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.
8. 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: 0.96% ✗
• Cap rate: 7.44%
• Cash-on-cash: 4.09%
• DSCR: 1.18
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $212,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1506 N Forest Park Ave	0.00mi	3/1.5	1,200 (0%)	1mo	$217,900	$182	99
1216 Newfield Rd	0.30mi	3/1.5	1,152 (-4%)	12mo	$275,000	$239	70
1635 Langford Rd	0.21mi	3/2.0	1,233 (+3%)	18mo	$230,000	$187	69
5022 Westhills Rd	0.50mi	3/1.0	1,152 (-4%)	3mo	$177,400	$154	65
829 N Chapel Gate Ln	0.66mi	4/2.5 (+1)	1,200 (0%)	1mo	$185,000	$154	59
1020 Wedgewood Rd	0.53mi	3/1.0	1,274 (+6%)	9mo	$145,000	$114	55
1103 Cooks Ln	0.56mi	3/1.0	1,080 (-10%)	2mo	$140,000	$130	54
827 N Chapel Gate Ln	0.67mi	3/2.0	1,200 (0%)	17mo	$190,000	$158	52
1422 Clairidge Rd	0.23mi	3/1.0	1,373 (+14%)	18mo	$205,000	$149	48
1029 Stamford Rd	0.50mi	3/1.5	1,324 (+10%)	14mo	$235,000	$177	47
817 Wedgewood Rd	0.72mi	3/1.5	1,280 (+7%)	13mo	$257,000	$201	45
807 Stamford Rd	0.68mi	4/2.5 (+1)	1,280 (+7%)	19mo	$276,000	$216	33

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

9.5% appreciation · 5.23% rent growth · sell at horizon

5-year hold

• IRR: 27.1%
• Equity multiple: 3.12×
• Total profit: $123,356
• Equity at exit: $179,752

10-year hold

• IRR: 24.5%
• Equity multiple: 7.21×
• Total profit: $361,757
• Equity at exit: $379,888

Cash invested: $58,212 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 27 Tenant-Leaning
• State Maryland: 27 Tenant-Leaning · D+14
• County: — inherits STATE
• City: — inherits STATE

Failure-to-pay is dismissed if cured before judgment; Baltimore has just-cause; strict deposit rules.

Methodology + full state rankings →

ZIP-level market 21207

• Home prices YoY: 1.1%
• Rents YoY: 5.2%
• Active inventory: 126
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,994 high
• Mortgage (P&I): −$1,090
• Tax from tax record: −$198 /mo · $2,370/yr
• Insurance: −$87
• HOA: −$2
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $199

Break-even live

Break-even rent $1,742

Max offer price $207,900

Occupancy floor 85%

Sensitivity live

Price	-10% $316	-5% $257	+0% $199	+5% $140	+10% $81
Rent	-10% $41	-5% $120	+0% $199	+5% $277	+10% $356
Rate	-1.0pp $303	-0.5pp $252	base $199	+0.5pp $145	+1.0pp $90

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: $51,975
• Closing costs: $6,237
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1530 Kirkwood Rd Gwynn Oak, MD	3.0	1.5	1424	$2,100	$1.47	11d	1	0.08mi
930 Masefield Rd Unit 1 Woodlawn, MD	3.0	1.5	1080	$2,650	$2.45	3d	1	0.17mi
945 Saint Agnes Ln Gwynn Oak, MD	4.0	2.0	1500	$1,985	$1.32	18d	1	0.24mi
1661 N Forest Park Ave Gwynn Oak, MD	2.0	1.0	790	$1,625	$2.06	24d	1	0.31mi
1314 Dorchester Ave Unit B, UPPER LEVEL ONLY Baltimore, MD	3.0	1.0	800	$1,350	$1.69	44d	1	0.40mi
408 Shade Tree Pl Catonsville, MD	1.0–2.0	1.0–2.0	805	$1,812	$2.25	5d	1	0.65mi
407 Cedar Run Pl Catonsville, MD	2.0	1.0	544	$1,546	$2.84	21d	1	0.69mi
603 Braeside Rd Baltimore, MD	3.0	2.0	1416	$2,400	$1.69	44d	1	0.71mi
1729 Champlain Dr Woodlawn, MD	2.0	1.0	614	$1,569	$2.55	3d	10	0.72mi
2 Walden Birch Ct Woodlawn, MD	3.0	1.5	1022	$1,792	$1.75	5d	1	0.93mi
311 Harlem Ln Catonsville, MD	3.0	2.0	1152	$2,300	$2.00	5d	1	1.02mi
5215 Muth Ave Gwynn Oak, MD	3.0	3.0	1205	$2,700	$2.24	15d	1	1.15mi
5364 Jamestowne Ct Baltimore, MD	3.0	1.0–1.5	787	$1,905	$2.42	5d	13	1.16mi
5136 Oaklawn Rd Gwynn Oak, MD	1.0–3.0	1.0	896	$1,710	$1.91	2d	22	1.20mi
220 Stonecroft Rd Unit 230-D Baltimore, MD	2.0	1.5	900	$1,395	$1.55	22d	1	1.22mi
220 Stonecroft Rd Unit 232-I Baltimore, MD	2.0	1.5	900	$1,295	$1.44	18d	1	1.22mi
131 N Bend Rd Unit 131-1B Baltimore, MD	2.0	1.5	910	$1,225	$1.35	22d	1	1.23mi
51 Briarwood Rd Catonsville, MD	3.0	1.0	1200	$2,100	$1.75	44d	1	1.27mi
417 Wheaton Pl Catonsville, MD	2.0	1.0	1200	$2,169	$1.81	3d	1	1.30mi
1 Janper Ct Baltimore, MD	2.0	1.5	950	$1,500	$1.58	3d	1	1.39mi
5006 Windsor Mill Rd Baltimore, MD	1.0–3.0	1.0–2.0	776	$1,899	$2.45	3d	18	1.39mi
219 Atholgate Ln Baltimore, MD	1.0–3.0	1.0–1.5	814	$1,500	$1.84	3d	2	1.43mi
5147 Frederick Ave Baltimore, MD	3.0	2.0	1216	$1,950	$1.60	4d	1	1.46mi
114 S Rock Glen Rd Baltimore, MD	4.0	1.5	1160	$2,350	$2.03	13d	1	1.47mi
410 Winters Ln Catonsville, MD	2.0	2.0	1296	$2,000	$1.54	5d	1	1.47mi

HOA detail

• Monthly dues: $2 · $24/yr

Listing history 11 events

1. 2026-05-15
   status Pending
2. 2026-05-13
   listed $207,900 Active
3. 2026-05-12
   historical $207,900
4. 2009-03-04
   soldstatus $132,000 Sold 370-char remark

   Show marketing remark (370 chars)

   3 BR 1.5 Ba Brick Row Home. Oak kitchen cabinets, Hardwoods, Fenced back yard. Washer & dryer. Close to SSA, HCFA, Public Transportation, Easy access to Balto City. . * * * BANK OWNED PROPERTY BEING SOLD "AS IS". BUYER TO VERIFY ALL INFORMATION INCLUDING GROUND RENT (IF ONE EXISTS, SELLER WILL NOT REDEEM). BANK ADDENDUMS TO BE SUBMITTED WITH OFFER.

5. 2009-01-08
   historical 370-char remark

   Show marketing remark (370 chars)

   3 BR 1.5 Ba Brick Row Home. Oak kitchen cabinets, Hardwoods, Fenced back yard. Washer & dryer. Close to SSA, HCFA, Public Transportation, Easy access to Balto City. . * * * BANK OWNED PROPERTY BEING SOLD "AS IS". BUYER TO VERIFY ALL INFORMATION INCLUDING GROUND RENT (IF ONE EXISTS, SELLER WILL NOT REDEEM). BANK ADDENDUMS TO BE SUBMITTED WITH OFFER.

6. 2009-01-02
   price $124,900 370-char remark

   Show marketing remark (370 chars)

   3 BR 1.5 Ba Brick Row Home. Oak kitchen cabinets, Hardwoods, Fenced back yard. Washer & dryer. Close to SSA, HCFA, Public Transportation, Easy access to Balto City. . * * * BANK OWNED PROPERTY BEING SOLD "AS IS". BUYER TO VERIFY ALL INFORMATION INCLUDING GROUND RENT (IF ONE EXISTS, SELLER WILL NOT REDEEM). BANK ADDENDUMS TO BE SUBMITTED WITH OFFER.

7. 2008-12-29
   price $125,900 370-char remark

   Show marketing remark (370 chars)

   3 BR 1.5 Ba Brick Row Home. Oak kitchen cabinets, Hardwoods, Fenced back yard. Washer & dryer. Close to SSA, HCFA, Public Transportation, Easy access to Balto City. . * * * BANK OWNED PROPERTY BEING SOLD "AS IS". BUYER TO VERIFY ALL INFORMATION INCLUDING GROUND RENT (IF ONE EXISTS, SELLER WILL NOT REDEEM). BANK ADDENDUMS TO BE SUBMITTED WITH OFFER.

8. 2008-12-09
   price $129,900 370-char remark

   Show marketing remark (370 chars)

   3 BR 1.5 Ba Brick Row Home. Oak kitchen cabinets, Hardwoods, Fenced back yard. Washer & dryer. Close to SSA, HCFA, Public Transportation, Easy access to Balto City. . * * * BANK OWNED PROPERTY BEING SOLD "AS IS". BUYER TO VERIFY ALL INFORMATION INCLUDING GROUND RENT (IF ONE EXISTS, SELLER WILL NOT REDEEM). BANK ADDENDUMS TO BE SUBMITTED WITH OFFER.

9. 2008-11-20
   price $133,900 370-char remark

   Show marketing remark (370 chars)

   3 BR 1.5 Ba Brick Row Home. Oak kitchen cabinets, Hardwoods, Fenced back yard. Washer & dryer. Close to SSA, HCFA, Public Transportation, Easy access to Balto City. . * * * BANK OWNED PROPERTY BEING SOLD "AS IS". BUYER TO VERIFY ALL INFORMATION INCLUDING GROUND RENT (IF ONE EXISTS, SELLER WILL NOT REDEEM). BANK ADDENDUMS TO BE SUBMITTED WITH OFFER.

10. 2008-10-29
    listed $137,900 370-char remark

    Show marketing remark (370 chars)

    3 BR 1.5 Ba Brick Row Home. Oak kitchen cabinets, Hardwoods, Fenced back yard. Washer & dryer. Close to SSA, HCFA, Public Transportation, Easy access to Balto City. . * * * BANK OWNED PROPERTY BEING SOLD "AS IS". BUYER TO VERIFY ALL INFORMATION INCLUDING GROUND RENT (IF ONE EXISTS, SELLER WILL NOT REDEEM). BANK ADDENDUMS TO BE SUBMITTED WITH OFFER.

11. 1994-08-04
    soldstatus $79,000

ⓘ 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: $2,370 · $198/mo
• Projected year-2 tax: $2,370 · $198/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 ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 24% 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: $23,925
• − Mortgage interest: −$11,646
• − Property taxes: −$2,370
• − Insurance: −$1,040
• − Repairs & maintenance: −$1,914
• − Management: −$1,914
• − HOA: −$24
• − Depreciation: −$6,048
• Taxable loss: −$1,031
• Est. tax savings @ 24.0%: +$247
• After-tax cash flow: $2,631/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 County Public Schools
• NCES district ID: 2400120
• Math proficiency: 15% ▼ -16.00%
• Reading proficiency: 34% ▼ -5.00%
• Median HH income: $66,746
• Composite: 23.17/100
• National rank: #7948
• State rank: #11 of 24 in MD

Livability — Woodlawn

• Score: 77/100
• State rank: #78
• US rank: #2926

Category grades

Amenities D+ Commute A+ Cost of living B- Crime F Employment A- Housing A+ Health & safety C User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Woodlawn, MD
• County: Baltimore County · 769,527 people
• City population: 49,599
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 47,099
• Household income: $67,060
• Rent vs Own: 39.3% rent · 60.7% own
• Severe rent burden: 2139.0

Population outlook (Baltimore County) Hauer SSP2

• Today (2025): 885,518 people
• By 2030: 909,272 · +2.7%
• By 2040: 951,547 · +7.5%
• By 2050: 990,955 · +11.9%
• By 2075: 1,086,411 · +22.7%
• By 2100: 1,135,078 · +28.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (78%)
• Race & ethnicity: Black 78% White 8% Hispanic / Latino 7% Two or more races 5% Asian 3%
• Hispanic origin (detail): Puerto Rican 1%
• Common ancestry: Swedish 1%
• Foreign-born: 13% · Canada, Philippines, South Korea
• Languages at home: 86% English-only · Spanish 4% French/Haitian/Cajun 1% Other Asian/Pacific 1%

Political lean MEDSL · Baltimore

• 2024 margin: Strong D (+24.5) · D 61.0% · R 36.5% · Other 2.5%
• 2008→2024 swing: +9.9pp toward D · 2008: 14.6pp · 2024: 24.5pp
• All cycles: 2024: D+24.5 2020: D+27.0 2016: D+17.4 2012: D+16.4 2008: D+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 9.50%
• Current HPI: 843.63
• Rent YoY: ▲ 5.23%
• 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

+163.2% since first listed

11 events — show timeline

• 2026-05-15 Pending — BRIGHT MLS
• 2026-05-13 Listed $207,900 BRIGHT MLS
• 2026-05-12 Coming Soon $207,900 BRIGHT MLS
• 2009-03-04 Sold (MLS) $132,000 MRIS
• 2009-01-08 Delisted — MRIS
• 2009-01-02 Price Changed $124,900 MRIS
• 2008-12-29 Price Changed $125,900 MRIS
• 2008-12-09 Price Changed $129,900 MRIS
• 2008-11-20 Price Changed $133,900 MRIS
• 2008-10-29 Listed $137,900 MRIS
• 1994-08-04 Sold (Public Records) $79,000 Public Records

Property tax history

+0.5%/yr

Latest (2025): $2,370 · +2.2% YoY. Source: county tax records.