447 N Linwood Ave · Baltimore, MD 21224

$269,900

6 bd · 2.0 ba · 1,650 sqft · Townhouse public records · 66 Days on market

Built 1900 1,936 sqft lot $164/sqft · 25% above area Est $215k · 25% over

---

Why this score? — see what drove the D 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 +21.6/30.0
• DSCR +6.9/10.0
• 1% rule +5.5/10.0
• Livability +3.8/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover 447 N Linwood Ave, Baltimore, MD 21224—a spacious and well-maintained home offering 6 bedrooms and 2 full bathrooms, perfect for large households or savvy investors looking for strong rental potential. This property is in very good to excellent condition, allowing you to move in or start generating income right away without the burden of major repairs or updates. With six generously sized bedrooms, there’s plenty of flexibility for multi-generational living, shared housing, or maximizing rental income. The layout is practical and functional, providing both comfort and privacy for occupants. If you’ve been searching for a property that offers space, value, and minimal upfront work, this home checks all the boxes. Conveniently located near major routes, shopping, and dining, it also makes daily living and commuting easy. Whether you're a homeowner needing more space or an investor looking for a high-yield opportunity, this property delivers both versatility and long-term value. Schedule your showing today!

Key facts

• Built 1900
• Listed 65 days

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath townhouse listed at $270k.

Deal economics

• At list price, monthly cash flow is $410 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $270k).
• Recommended offer: $254k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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 (+1.3%/yr); 393 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $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 66 days — a 6% lower offer ($254k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 24y ago; this cycle's ask has dropped $19k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $121k; list at $270k implies a 123% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $253,706 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 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 1900 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 8.12%
• Cash-on-cash: 6.51%
• DSCR: 1.29
• GRM: 7.9

CMA / ARV

• ARV (median comp): $215,282
• List price: $269,900
• Delta: 25.37%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1027 N Kenwood Ave	0.44mi	5/2.0 (-1)	1,720 (+4%)	8mo	$225,000	$131	61
39 S Highland Ave	0.53mi	5/2.0 (-1)	1,600 (-3%)	6mo	$204,600	$128	60
23 Highland Ave	0.45mi	5/1.5 (-1)	1,708 (+4%)	10mo	$159,500	$93	58
2329 E Madison St	0.46mi	5/3.5 (-1)	1,840 (+12%)	7mo	$230,000	$125	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 · 1.31% rent growth · sell at horizon

5-year hold

• IRR: -8.2%
• Equity multiple: 0.70×
• Total profit: $-22,356
• Equity at exit: $40,243

10-year hold

• IRR: -1.0%
• Equity multiple: 0.94×
• Total profit: $-4,595
• Equity at exit: $23,336

Cash invested: $75,572 (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 21224

• Rents YoY: 1.3%
• Active inventory: 393
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,840 medium
• Mortgage (P&I): −$1,415
• Tax from tax record: −$306 /mo · $3,669/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$596
• Net cashflow: $410

Break-even live

Break-even rent $2,321

Max offer price $269,900

Occupancy floor 81%

Sensitivity live

Price	-10% $563	-5% $486	+0% $410	+5% $333	+10% $257
Rent	-10% $186	-5% $298	+0% $410	+5% $522	+10% $634
Rate	-1.0pp $546	-0.5pp $479	base $410	+0.5pp $340	+1.0pp $269

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: $67,475
• Closing costs: $8,097
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
228 N Kenwood Ave Baltimore, MD	5.0	2.0	1901	$2,200	$1.16	5d	1	0.15mi
1200 N Eden St Baltimore, MD	5.0	4.5	1208	$1,400	$1.16	6d	1	1.37mi

Listing history 39 events

1. 2026-06-21
   days on market $269,900 Active 66 DOM
2. 2026-06-18
   days on market $269,900 Active 63 DOM
3. 2026-06-17
   days on market $269,900 Active 62 DOM
4. 2026-06-16
   days on market $269,900 Active 61 DOM
5. 2026-06-15
   days on market $269,900 Active 60 DOM
6. 2026-06-13
   days on market $269,900 Active 58 DOM
7. 2026-06-09
   days on market $269,900 Active 54 DOM
8. 2026-06-08
   days on market $269,900 Active 53 DOM
9. 2026-06-07
   days on market $269,900 Active 52 DOM
10. 2026-06-04
    days on market $269,900 Active 49 DOM
11. 2026-06-03
    days on market $269,900 Active 48 DOM
12. 2026-06-02
    days on market $269,900 Active 47 DOM
13. 2026-06-01
    days on market $269,900 Active 46 DOM
14. 2026-05-31
    days on market $269,900 Active 45 DOM
15. 2026-05-01
    price $278,900 1046-char remark

    Show marketing remark (1046 chars)

    Discover 447 N Linwood Ave, Baltimore, MD 21224—a spacious and well-maintained home offering 6 bedrooms and 2 full bathrooms, perfect for large households or savvy investors looking for strong rental potential. This property is in very good to excellent condition, allowing you to move in or start generating income right away without the burden of major repairs or updates. With six generously sized bedrooms, there’s plenty of flexibility for multi-generational living, shared housing, or maximizing rental income. The layout is practical and functional, providing both comfort and privacy for occupants. If you’ve been searching for a property that offers space, value, and minimal upfront work, this home checks all the boxes. Conveniently located near major routes, shopping, and dining, it also makes daily living and commuting easy. Whether you're a homeowner needing more space or an investor looking for a high-yield opportunity, this property delivers both versatility and long-term value. Schedule your showing today!

16. 2026-04-17
    listed $288,900 Active 1046-char remark

    Show marketing remark (1046 chars)

    Discover 447 N Linwood Ave, Baltimore, MD 21224—a spacious and well-maintained home offering 6 bedrooms and 2 full bathrooms, perfect for large households or savvy investors looking for strong rental potential. This property is in very good to excellent condition, allowing you to move in or start generating income right away without the burden of major repairs or updates. With six generously sized bedrooms, there’s plenty of flexibility for multi-generational living, shared housing, or maximizing rental income. The layout is practical and functional, providing both comfort and privacy for occupants. If you’ve been searching for a property that offers space, value, and minimal upfront work, this home checks all the boxes. Conveniently located near major routes, shopping, and dining, it also makes daily living and commuting easy. Whether you're a homeowner needing more space or an investor looking for a high-yield opportunity, this property delivers both versatility and long-term value. Schedule your showing today!

17. 2026-04-16
    historical $288,900 1046-char remark

    Show marketing remark (1046 chars)

    Discover 447 N Linwood Ave, Baltimore, MD 21224—a spacious and well-maintained home offering 6 bedrooms and 2 full bathrooms, perfect for large households or savvy investors looking for strong rental potential. This property is in very good to excellent condition, allowing you to move in or start generating income right away without the burden of major repairs or updates. With six generously sized bedrooms, there’s plenty of flexibility for multi-generational living, shared housing, or maximizing rental income. The layout is practical and functional, providing both comfort and privacy for occupants. If you’ve been searching for a property that offers space, value, and minimal upfront work, this home checks all the boxes. Conveniently located near major routes, shopping, and dining, it also makes daily living and commuting easy. Whether you're a homeowner needing more space or an investor looking for a high-yield opportunity, this property delivers both versatility and long-term value. Schedule your showing today!

18. 2021-03-31
    soldstatus $121,000
19. 2020-09-24
    historical
20. 2020-09-18
    listed $135,000 Active
21. 2013-07-19
    soldstatus $16,000
22. 2013-07-19
    soldstatus $16,000 Sold
23. 2013-06-21
    status Contract
24. 2013-06-21
    historical
25. 2013-06-13
    price $16,900
26. 2013-05-09
    listed $20,900 Active
27. 2013-05-09
    listed $16,900
28. 2008-09-29
    historical
29. 2008-09-29
    historical
30. 2008-07-07
    listed
31. 2008-07-07
    listed
32. 2008-07-02
    historical
33. 2008-07-02
    historical
34. 2008-05-31
    listed
35. 2008-05-05
    listed
36. 2006-01-17
    soldstatus $95,000
37. 2003-05-08
    soldstatus $21,000
38. 2003-01-02
    historical
39. 2002-12-15
    listed $24,900

ⓘ 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: $3,669 · $306/mo
• Projected year-2 tax: $3,669 · $306/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 8/10 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: $34,078
• − Mortgage interest: −$15,119
• − Property taxes: −$3,669
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,726
• − Management: −$2,726
• − Depreciation: −$7,852
• Taxable income: $637
• Est. tax owed @ 24.0%: −$153
• After-tax cash flow: $4,766/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): 47,465
• Household income: $89,017
• Rent vs Own: 41.5% rent · 58.5% own
• Severe rent burden: 1786.0

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 0.62)
• Race & ethnicity: White 55% Hispanic / Latino 21% Black 16% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2% Dominican 1%
• Common ancestry: Romanian 5% Lithuanian 2% Italian 1%
• Foreign-born: 17% · Canada, China, Vietnam
• Languages at home: 76% English-only · Spanish 18% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -332.23%
• Current HPI: 241.284
• Rent YoY: ▲ 1.31%
• 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

+1020.1% since first listed

25 events — show timeline

• 2026-05-01 Price Changed $278,900 BRIGHT MLS
• 2026-04-17 Listed $288,900 BRIGHT MLS
• 2026-04-16 Coming Soon $288,900 BRIGHT MLS
• 2021-03-31 Sold (Public Records) $121,000 Public Records
• 2020-09-24 Listing Removed — BRIGHT MLS
• 2020-09-18 Listed $135,000 BRIGHT MLS
• 2013-07-19 Sold (MLS) $16,000 MRIS
• 2013-07-19 Sold (MLS) $16,000 BRIGHT MLS
• 2013-06-21 Pending — MRIS
• 2013-06-21 Listing Removed — BRIGHT MLS
• 2013-06-13 Price Changed $16,900 MRIS
• 2013-05-09 Listed $20,900 MRIS
• 2013-05-09 Listed $16,900 BRIGHT MLS
• 2008-09-29 Delisted — MRIS
• 2008-09-29 Delisted — MRIS
• 2008-07-07 Listed — MRIS
• 2008-07-07 Listed — MRIS
• 2008-07-02 Delisted — MRIS
• 2008-07-02 Delisted — MRIS
• 2008-05-31 Listed — MRIS
• 2008-05-05 Listed — MRIS
• 2006-01-17 Sold (Public Records) $95,000 Public Records
• 2003-05-08 Sold (MLS) $21,000 MRIS
• 2003-01-02 Delisted — MRIS
• 2002-12-15 Listed $24,900 MRIS

Property tax history

+5.1%/yr

Latest (2025): $3,669 · +11.8% YoY. Source: county tax records.