1028 Witherspoon Rd · Baltimore, MD 21212

$157,900

3 bd · 1.5 ba · 1,258 sqft · Townhouse public records · 41 Days on market

Built 1949 1,983 sqft lot $126/sqft · 16% below area Est $187k · 16% under

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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 +25.2/30.0
• ARV discount +14.6/15.0
• DSCR +8.3/10.0
• 1% rule +6.8/10.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

* * New Listing | 3-Bedroom Townhouse | For Sale * * * * * * * * * * * * * * This is not a RENTAL. For Sale only * * * * * * * * * * * * * Well-maintained townhouse featuring a covered front porch and fenced rear yard in a quiet, established neighborhood. The partially finished basement offers additional space with potential to expand the usable living area. The property shows well and is in average condition, providing an excellent opportunity for investors or owner-occupants looking to add value and build equity. Convenient layout with strong renovation and resale potential.

Key facts

• Built 1949
• Listed 41 days

Property features AI

Finance

• Other: Total below-grade area and finished/unf finished areas recorded by assessor
• Financial info: Ground rent payment of $90 semi-annually (ground rent years remaining: 99)

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Interior townhouse/rowhouse; Building not winterized; Ground rent interest (ground rent exists)
• Construction: Brick construction; Block foundation; Asphalt roof; Built in (year per assessor)
• Exterior features: Sidewalks; Rear fencing; Porch(es)

Interior

• Kitchen: Galley-style kitchen
• Bedrooms: Three bedrooms on the first upper level
• Flooring: Wood floors
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); Ceiling fans; Electric cooling; Natural gas hot water
• Interior features: Galley kitchen; Dining area; Window treatments; Wood floors; Open floor plan
• Laundry & utility: Laundry in the basement; Utility room; Storage room

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $158k.

Deal economics

• At list price, monthly cash flow is $356 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $158k).
• Recommended offer: $153k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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 (+4.7%/yr); 133 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 + 4.7% rent growth), your $44k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($153k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 24y 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 $70k; list at $158k implies a 126% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1949 — 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 $153,163 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 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 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.18% ✓
• Cap rate: 9.00%
• Cash-on-cash: 9.65%
• DSCR: 1.43
• GRM: 7.1

CMA / ARV

• ARV (median comp): $187,303
• List price: $157,900
• Delta: -15.70%
• 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
1045 Marlau Dr	0.35mi	3/1.5	1,240 (-1%)	0mo	$225,000	$181	81
912 Evesham Ave	0.25mi	3/2.0	1,352 (+8%)	2mo	$224,900	$166	73
830 Saint Dunstans Rd	0.19mi	3/1.0	1,394 (+11%)	1mo	$161,000	$115	70
5627 Ready Ave	0.49mi	3/2.0	1,186 (-6%)	3mo	$95,400	$80	63
324 Woodbourne Ave	0.67mi	3/2.0	1,280 (+2%)	4mo	$286,425	$224	60
1200 Woodbourne Ave	0.30mi	4/3.0 (+1)	1,364 (+8%)	2mo	$196,100	$144	60
5911 Glenkirk Rd	0.65mi	3/1.5	1,330 (+6%)	5mo	$155,100	$117	56
5933 Leith Walk	0.65mi	3/1.0	1,330 (+6%)	3mo	$155,000	$117	56
5126 Craig Ave	0.65mi	3/2.5	1,344 (+7%)	5mo	$149,900	$112	50
5820 Loch Raven Blvd	0.69mi	3/2.5	1,330 (+6%)	6mo	$244,000	$183	50
5811 The Alameda	0.45mi	4/2.0 (+1)	1,420 (+13%)	1mo	$250,000	$176	50
812 Mccabe Ave	0.50mi	3/1.0	1,080 (-14%)	2mo	$150,000	$139	50

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 · 4.65% rent growth · sell at horizon

5-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $252
• Equity at exit: $23,543

10-year hold

• IRR: 11.5%
• Equity multiple: 1.97×
• Total profit: $42,917
• Equity at exit: $13,652

Cash invested: $44,212 (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 21212

• Rents YoY: 4.7%
• Active inventory: 133
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,865 high
• Mortgage (P&I): −$828
• Tax from tax record: −$224 /mo · $2,686/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $356

Break-even live

Break-even rent $1,415

Max offer price $157,900

Occupancy floor 76%

Sensitivity live

Price	-10% $445	-5% $400	+0% $356	+5% $311	+10% $266
Rent	-10% $208	-5% $282	+0% $356	+5% $429	+10% $503
Rate	-1.0pp $435	-0.5pp $396	base $356	+0.5pp $315	+1.0pp $273

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: $39,475
• Closing costs: $4,737
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5622 Midwood Ave Baltimore, MD	3.0	2.0	1452	$2,300	$1.58	44d	1	0.10mi
5626 Midwood Ave Unit 2 Baltimore, MD	2.0	1.0	1452	$1,100	$0.76	24d	1	0.10mi
1006 Cameron Rd Baltimore, MD	2.0	1.0	1032	$950	$0.92	44d	1	0.12mi
1008 Tunbridge Rd Baltimore, MD	3.0	2.0	1732	$2,050	$1.18	24d	1	0.14mi
828 Saint Dunstans Rd Baltimore, MD	3.0	2.0	1544	$2,000	$1.30	24d	1	0.23mi
818 Bradhurst Rd Baltimore, MD	2.0	1.0	1216	$1,250	$1.03	44d	1	0.30mi
818 Bradhurst Rd Baltimore, MD	2.0	1.0	1216	$1,350	$1.11	4d	1	0.30mi
5520 Sagra Rd Baltimore, MD	3.0	1.5	1650	$1,900	$1.15	44d	1	0.35mi
917 Reverdy Rd Unit A Baltimore, MD	3.0	1.0	1200	$2,100	$1.75	44d	1	0.35mi
1221 Glenwood Ave Baltimore, MD	3.0	2.0	1390	$2,595	$1.87	44d	1	0.41mi
1111 Gleneagle Rd Unit 2 Baltimore, MD	2.0	1.0	1452	$1,050	$0.72	44d	1	0.43mi
1106 Gleneagle Rd Unit 2 Baltimore, MD	2.0	1.0	1100	$1,450	$1.32	44d	1	0.45mi
1116 Gleneagle Rd Unit 2 Baltimore, MD	2.0	1.0	876	$1,750	$2.00	44d	1	0.47mi
5204 Kelway Rd Baltimore, MD	3.0	2.0	1666	$2,350	$1.41	24d	1	0.53mi
1275 Kitmore Rd Unit 1245K-T Baltimore, MD	3.0	1.0	935	$1,895	$2.03	5d	1	0.55mi
1275 Kitmore Rd Unit 1262B-A Baltimore, MD	2.0	1.0	923	$1,320	$1.43	2d	1	0.55mi
711 1/2 McCabe Ave Baltimore, MD	4.0	3.0	1204	$2,350	$1.95	5d	1	0.57mi
1020 Dartmouth Glen Way Baltimore, MD	3.0	2.5	1152	$2,250	$1.95	24d	1	0.58mi
1224 Winston Ave Baltimore, MD	3.0	2.0	1248	$2,100	$1.68	18d	1	0.59mi
5200 Ready Ave Baltimore, MD	3.0	1.5	1116	$1,950	$1.75	4d	1	0.59mi
5307 York Rd Baltimore, MD	2.0	1.0	1120	$1,200	$1.07	44d	1	0.63mi
1260 Rossiter Ave Baltimore, MD	2.0	1.0	710	$1,250	$1.76	2d	37	0.69mi
543 Chateau Ave Baltimore, MD	3.0	2.0	1152	$1,900	$1.65	5d	1	0.70mi
1104 Meridene Dr Unit 1 Baltimore, MD	2.0	1.0	1098	$1,350	$1.23	44d	1	0.74mi
510 Winston Ave Baltimore, MD	4.0	2.0	1600	$2,800	$1.75	20d	1	0.75mi
6008 Clearspring Rd Baltimore, MD	4.0	2.5	1758	$3,600	$2.05	24d	1	0.75mi
1508 Gleneagle Rd Baltimore, MD	3.0	2.0	1824	$2,180	$1.20	5d	1	0.75mi
6149 Dunroming Rd Baltimore, MD	3.0	1.5	1400	$1,895	$1.35	11d	1	0.77mi
6159 Parkway Dr Apt 1 Baltimore, MD	4.0	2.0	1408	$2,200	$1.56	24d	1	0.78mi
6159 Parkway Dr Baltimore, MD	4.0	2.0	1408	$2,200	$1.56	22d	1	0.78mi
804 Radnor Ave Baltimore, MD	3.0	1.0	1654	$2,000	$1.21	44d	1	0.79mi
6189 Northwood Dr Baltimore, MD	4.0	2.0	1400	$2,200	$1.57	44d	1	0.82mi
514 Radnor Ave Baltimore, MD	3.0	1.5	1575	$1,500	$0.95	45d	1	0.86mi
416 Winston Ave Unit 426-01 Baltimore, MD	2.0	1.0	890	$1,250	$1.40	44d	1	0.87mi
835 E Cold Spring Ln Baltimore, MD	2.0	1.5	997	$1,400	$1.40	24d	1	0.91mi
1018 Woodson Rd Baltimore, MD	1.0–3.0	1.0–2.0	815	$2,329	$2.86	2d	13	0.93mi
1804 Winford Rd Baltimore, MD	3.0	1.5	1600	$2,100	$1.31	24d	1	0.95mi
1726 E Belvedere Ave Baltimore, MD	3.0	2.0	1140	$1,895	$1.66	22d	1	0.96mi
1545 E Cold Spring Ln Baltimore, MD	4.0	2.0	1240	$2,000	$1.61	44d	1	0.98mi
1646 Wadsworth Way Baltimore, MD	3.0	1.0	1520	$2,100	$1.38	11d	1	1.01mi

Listing history 21 events

1. 2026-06-18
   days on market $157,900 Active 41 DOM
2. 2026-06-17
   days on market $157,900 Active 40 DOM
3. 2026-06-16
   days on market $157,900 Active 39 DOM
4. 2026-06-15
   days on market $157,900 Active 38 DOM
5. 2026-06-13
   days on market $157,900 Active 36 DOM
6. 2026-06-09
   pricedays on market $157,900 Active 32 DOM
7. 2026-06-08
   days on market $164,900 Active 31 DOM
8. 2026-06-07
   days on market $164,900 Active 30 DOM
9. 2026-06-04
   days on market $164,900 Active 27 DOM
10. 2026-06-03
    days on market $164,900 Active 26 DOM
11. 2026-06-02
    days on market $164,900 Active 25 DOM
12. 2026-06-01
    days on market $164,900 Active 24 DOM
13. 2026-05-31
    days on market $164,900 Active 23 DOM
14. 2026-05-08
    listed $164,900 Active 613-char remark
15. 2004-04-16
    soldstatus $70,000
16. 2003-10-15
    soldstatus $50,000
17. 2003-05-28
    historical
18. 2002-12-03
    soldstatus $38,900
19. 2002-06-18
    listed
20. 1996-07-18
    soldstatus $55,300
21. 1984-08-02
    soldstatus $31,000

ⓘ 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: $2,686 · $224/mo
• Projected year-2 tax: $2,686 · $224/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 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,379
• − Mortgage interest: −$8,845
• − Property taxes: −$2,686
• − Insurance: −$790
• − Repairs & maintenance: −$1,790
• − Management: −$1,790
• − Depreciation: −$4,593
• Taxable income: $1,884
• Est. tax owed @ 24.0%: −$452
• After-tax cash flow: $3,815/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): 33,974
• Household income: $96,685
• Rent vs Own: 31.2% rent · 68.8% own
• Severe rent burden: 769.0

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 49% Black 35% Two or more races 9% Hispanic / Latino 7% Asian 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1%
• Common ancestry: Romanian 3% Italian 2% Slovak 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 87% English-only · Spanish 5% Other Indo-European 2% French/Haitian/Cajun 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: ▼ -392.44%
• Current HPI: 267.4569
• Rent YoY: ▲ 4.65%
• 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

+409.4% since first listed

9 events — show timeline

• 2026-06-09 Price Changed $157,900 BRIGHT MLS
• 2026-05-08 Listed $164,900 BRIGHT MLS
• 2004-04-16 Sold (Public Records) $70,000 Public Records
• 2003-10-15 Sold (Public Records) $50,000 Public Records
• 2003-05-28 Delisted — MRIS
• 2002-12-03 Sold (Public Records) $38,900 Public Records
• 2002-06-18 Listed — MRIS
• 1996-07-18 Sold (Public Records) $55,300 Public Records
• 1984-08-02 Sold (Public Records) $31,000 Public Records

Property tax history

+0.4%/yr

Latest (2025): $2,686 · +11.4% YoY. Source: county tax records.