3126 W North Ave · Baltimore, MD 21216

$179,900

6 bd · 3.0 ba · 2,508 sqft · Townhouse · 77 Days on market

Built 1920 1,575 sqft lot Est $291k · 38% under ↓ 13% since listing

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

INCREDIBLE INVESTMENT OPPORTUNITY! LARGE MIXED USE PROPERTY WITH TONS OF POSSIBLITIES! Property is currently set up as a street level convenience store and upstairs residential unit. The street level commercial space features a secure check out area, a larger rear retail food area with ample shelving and refrigerated units, a storage space, and a half bath. The upper level residential space has a kitchen and 1/2 bath located on one level and a total of 6 bedrooms and 2 full baths on the upper 2 levels along with a rear deck. This set up would be ideal for a rooming house. Located on highly traveled North Ave. and close to Coppin State, Gwynn Falls Park, & Hilton Parkway

Key facts

• Mixed use property
• Refrigerated units
• Ample shelving

Tags

• MIXED USE PROPERTY
• STREET LEVEL CONVENIENCE STORE
• SECURE CHECK OUT AREA
• REAR RETAIL FOOD AREA
• AMPLE SHELVING
• REFRIGERATED UNITS

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas hot water; Natural gas heating
• Home design: End-of-row townhouse; Ownership: Fee simple; Year built: estimated
• Construction: Combination construction materials; Other foundation; Other above-grade structures
• Exterior features: Deck(s); No tidal water

Interior

• Bedrooms: Four bedrooms on the second (upper) level; Two bedrooms on the third (upper) level
• Flooring: Hardwood
• Bathrooms: Two full bathrooms; Two half bathrooms (one on main level, one on first upper level)
• Heating & cooling: Forced air heating; Cooling: other (unspecified)
• Interior features: Hardwood flooring; Finished living area (estimated); Basement (other)

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath townhouse listed at $180k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $180k).
• Recommended offer: $169k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.5% 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: 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.
• Zoned schools: Elmer A. Henderson: A Johns Hopkins Partnership (math 2% / reading 16%, grade F, #650 of 860 statewide, top 77%, 642 students, 80% FRL); Vanguard Collegiate Middle (math 3% / reading 15%, grade F, #212 of 225 statewide, top 95%, 343 students, 84% FRL); Baltimore Polytechnic Institute (math 71% / reading 84%, grade A-, #22 of 222 statewide, top 10%, 1,555 students, 43% FRL).
• Zoned-school proficiency averages 32% at this address vs 12% district-wide (+20 pts) — the actual schools serving this property are materially stronger than the Baltimore City Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+6.1%/yr); 252 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• At $2,945/mo this rent would consume 84% of the median local household income ($42k/yr) (locally 2264% 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 $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 + 6.1% rent growth), your $50k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($169k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 6y ago; this cycle's ask has dropped $45k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $169,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.64% ✓
• Cap rate: 13.52%
• Cash-on-cash: 25.81%
• DSCR: 2.15
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $290,928
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3022 Walbrook Ave	0.12mi	5/4.5 (-1)	2,200 (-12%)	7mo	$255,000	$116	57
2901 Windsor Ave	0.29mi	5/4.0 (-1)	2,700 (+8%)	12mo	$299,000	$111	55
2528 N Ellamont St	0.49mi	6/4.0	2,300 (-8%)	18mo	$302,000	$131	44

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 · 6.1% rent growth · sell at horizon

5-year hold

• IRR: 22.9%
• Equity multiple: 1.98×
• Total profit: $49,371
• Equity at exit: $26,824

10-year hold

• IRR: 32.9%
• Equity multiple: 4.44×
• Total profit: $173,452
• Equity at exit: $15,554

Cash invested: $50,372 (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 21216

• Rents YoY: 6.1%
• Active inventory: 252
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $2,945 medium
• Mortgage (P&I): −$943
• Tax est. 1.5%: −$225 /mo · $2,698/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$618
• Net cashflow: $1,083

Break-even live

Break-even rent $1,574

Max offer price $179,900

Occupancy floor 58%

Sensitivity live

Price	-10% $1,208	-5% $1,146	+0% $1,083	+5% $1,021	+10% $959
Rent	-10% $851	-5% $967	+0% $1,083	+5% $1,200	+10% $1,316
Rate	-1.0pp $1,174	-0.5pp $1,129	base $1,083	+0.5pp $1,037	+1.0pp $989

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2510 Roslyn Ave Baltimore, MD	6.0	5.0	2663	$4,200	$1.58	45d	1	0.72mi
2401 W North Ave Baltimore, MD	5.0	2.0	2037	$1,800	$0.88	6d	1	0.74mi
4029 Fairview Ave Baltimore, MD	5.0	4.5	2653	$3,200	$1.21	45d	1	1.27mi

Listing history 32 events

1. 2026-06-21
   days on market $179,900 Active 77 DOM
2. 2026-06-18
   days on market $179,900 Active 74 DOM
3. 2026-06-17
   days on market $179,900 Active 73 DOM
4. 2026-06-16
   days on market $179,900 Active 72 DOM
5. 2026-06-15
   days on market $179,900 Active 71 DOM
6. 2026-06-13
   days on market $179,900 Active 69 DOM
7. 2026-06-10
   price $179,900 Active 65 DOM
8. 2026-06-09
   days on market $199,900 Active 65 DOM
9. 2026-06-08
   days on market $199,900 Active 64 DOM
10. 2026-06-07
    days on market $199,900 Active 63 DOM
11. 2026-06-04
    days on market $199,900 Active 60 DOM
12. 2026-06-03
    days on market $199,900 Active 59 DOM
13. 2026-06-02
    days on market $199,900 Active 58 DOM
14. 2026-06-01
    days on market $199,900 Active 57 DOM
15. 2026-05-31
    days on market $199,900 Active 56 DOM
16. 2026-05-19
    status Active
17. 2026-05-01
    status Pending
18. 2026-04-21
    price $199,900
19. 2026-03-24
    status Active
20. 2026-02-12
    historical
21. 2026-02-06
    listed $224,900 Active
22. 2025-01-31
    historical
23. 2024-07-24
    price $249,900
24. 2024-07-24
    status Active
25. 2024-07-08
    status Pending
26. 2023-09-22
    listed $299,900 Active
27. 2023-05-10
    price $319,000
28. 2023-05-09
    historical
29. 2023-04-07
    listed $339,000 Active
30. 2021-04-16
    soldstatus $210,000 Closed
31. 2021-01-15
    status Pending
32. 2020-12-06
    listed $230,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $35,343
• − Mortgage interest: −$10,077
• − Property taxes: −$2,698
• − Insurance: −$900
• − Repairs & maintenance: −$2,827
• − Management: −$2,827
• − Depreciation: −$5,233
• Taxable income: $10,779
• Est. tax owed @ 24.0%: −$2,587
• After-tax cash flow: $10,415/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): 29,426
• Household income: $42,031
• Rent vs Own: 49.8% rent · 50.2% own
• Severe rent burden: 2264.0

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 (91%)
• Race & ethnicity: Black 91% Hispanic / Latino 4% Two or more races 3% White 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3% 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: ▼ -107.42%
• Current HPI: 164.3933
• Rent YoY: ▲ 6.10%
• 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

-13.1% since first listed

17 events — show timeline

• 2026-05-19 Relisted — BRIGHT MLS
• 2026-05-01 Pending — BRIGHT MLS
• 2026-04-21 Price Changed $199,900 BRIGHT MLS
• 2026-03-24 Relisted — BRIGHT MLS
• 2026-02-12 Listing Removed — BRIGHT MLS
• 2026-02-06 Listed $224,900 BRIGHT MLS
• 2025-01-31 Listing Removed — BRIGHT MLS
• 2024-07-24 Price Changed $249,900 BRIGHT MLS
• 2024-07-24 Relisted — BRIGHT MLS
• 2024-07-08 Pending — BRIGHT MLS
• 2023-09-22 Listed $299,900 BRIGHT MLS
• 2023-05-10 Price Changed $319,000 BRIGHT MLS
• 2023-05-09 Listing Removed — BRIGHT MLS
• 2023-04-07 Listed $339,000 BRIGHT MLS
• 2021-04-16 Sold (MLS) $210,000 BRIGHT MLS
• 2021-01-15 Pending — BRIGHT MLS
• 2020-12-06 Listed $230,000 BRIGHT MLS