3912 Reisterstown Rd · Baltimore, MD 21215

$55,000

3 bd · 1.5 ba · 1,100 sqft · Townhouse · 22 Days on market

Built 1920 2,620 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Discover a prime investment opportunity in the heart of Park Circle! This semi-detached home, built in 1920, boasts timeless character and modern potential. Home feature a spacious living room with floor-to-ceiling windows, a nice-size dining room that leads to the kitchen that is ideal for gathering, three bedrooms, a full and half bathroom. The unfinished basement offers a blank canvas for additional living space or storage, presenting an excellent opportunity for value-added renovations. The exterior features a porch perfect for outdoor entertaining or relaxing in the fresh air. The front and rear yards provide ample space for landscaping or gardening, enhancing curb appeal and potential

Key facts

• Outdoor entertaining
• Unfinished basement
• Front and rear yards

Tags

• SPACIOUS LIVING ROOM
• FLOOR TO CEILING WINDOWS
• UNFINISHED BASEMENT
• OUTDOOR ENTERTAINING
• FRONT AND REAR YARDS
• LANDSCAPING OR GARDENING

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $55k.

Deal economics

• At list price, monthly cash flow is $941 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $55k).
• Recommended offer: $54k (1.5% below list) — sets the bar for market timing.
• Cap rate 26.8% 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 (+2.4%/yr); 351 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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).
• This rent runs 38% of the median local income ($52k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k 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 + 2.4% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($54k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $54,175 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — 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: 2.97% ✓
• Cap rate: 26.83%
• Cash-on-cash: 73.36%
• DSCR: 4.26
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $118,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3912 Reisterstown Rd	0.00mi	3/1.5	1,100 (0%)	1mo	$55,000	$50	99
3823 Cottage Ave	0.21mi	3/1.0	1,140 (+4%)	3mo	$118,000	$104	80
3906 Grantley Rd	0.44mi	3/1.5	1,178 (+7%)	1mo	$127,000	$108	67
2841 Oakford Ave	0.58mi	3/2.0	1,044 (-5%)	8mo	$79,000	$76	56
2524 W Cold Spring Ln	0.56mi	3/1.5	1,152 (+5%)	12mo	$115,000	$100	56
2546 Druid Park Dr	0.53mi	3/1.0	1,002 (-9%)	4mo	$190,000	$190	55
2504 W Cold Spring Ln	0.56mi	4/2.0 (+1)	1,152 (+5%)	8mo	$230,000	$200	52
4541 The Strand	0.74mi	3/1.5	1,152 (+5%)	8mo	$110,000	$95	51
2814 Oakford Ave	0.57mi	4/2.0 (+1)	1,152 (+5%)	11mo	$156,200	$136	49
3701 Columbus Dr	0.72mi	3/1.0	1,200 (+9%)	4mo	$108,000	$90	46
3610 Malden Ave	0.68mi	2/1.0 (-1)	1,001 (-9%)	0mo	$250,000	$250	46
3623 Malden Ave	0.70mi	2/1.0 (-1)	1,157 (+5%)	12mo	$280,000	$242	42

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: 72.5%
• Equity multiple: 4.25×
• Total profit: $50,091
• Equity at exit: $8,201

10-year hold

• IRR: 76.2%
• Equity multiple: 8.59×
• Total profit: $116,943
• Equity at exit: $4,755

Cash invested: $15,400 (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: 2.8×

Monthly cashflow live

• Estimated rent: $1,632 high
• Mortgage (P&I): −$288
• Tax from tax record: −$37 /mo · $439/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $941

Break-even live

Break-even rent $440

Max offer price $55,000

Occupancy floor 37%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4037 Edgewood Rd Unit 1 Baltimore, MD	2.0	1.0	726	$1,100	$1.52	43d	1	0.19mi
4008 Hilton Rd Unit 1st Fl Baltimore, MD	2.0	1.0	750	$1,295	$1.73	43d	1	0.23mi
3822 Pall Mall Rd Baltimore, MD	3.0	1.5	1320	$1,875	$1.42	43d	1	0.25mi
4230 Towanda Ave Baltimore, MD	3.0	2.0	1400	$1,800	$1.29	17d	1	0.31mi
2619 Loyola Northway Baltimore, MD	3.0	2.0	1400	$1,995	$1.43	23d	1	0.42mi
2415 Loyola Southway Baltimore, MD	3.0	1.5	1200	$2,033	$1.69	43d	1	0.43mi
2454 W Cold Spring Ln Baltimore, MD	3.0	1.0	1200	$1,650	$1.38	23d	1	0.57mi
2915 Oakford Ave Baltimore, MD	3.0	2.0	1102	$1,600	$1.45	17d	1	0.57mi
2824 Edgecombe Cir S Baltimore, MD	2.0	2.0	950	$1,475	$1.55	21d	1	0.67mi
3508 Grantley Rd Baltimore, MD	2.0	1.0	1250	$1,350	$1.08	23d	1	0.70mi
2530 Edgecombe Cir N Baltimore, MD	2.0–3.0	1.0	920	$1,325	$1.44	2d	4	0.75mi
2080 Rockrose Ave Unit 2080-201 Baltimore, MD	2.0	2.0	1080	$2,100	$1.94	23d	1	0.80mi
3632 Parkdale Ave Baltimore, MD	3.0	1.0	1400	$3,000	$2.14	43d	1	0.81mi
2078 Druid Park Dr Baltimore, MD	2.0	3.0	1500	$2,500	$1.67	43d	1	0.84mi
2078 Druid Park Dr Unit 4 Baltimore, MD	2.0	2.5	1500	$2,500	$1.67	43d	1	0.85mi
3784 Columbus Dr Baltimore, MD	4.0	2.0	1250	$2,200	$1.76	23d	1	0.87mi
4714 Greenspring Ave Baltimore, MD	2.0	1.0	890	$1,295	$1.46	43d	1	0.90mi
3735 Manchester Ave Baltimore, MD	2.0	1.0	1000	$1,350	$1.35	4d	1	0.92mi
2910 Reisterstown Rd Baltimore, MD	1.0–3.0	1.0	950	$1,414	$1.49	14d	4	0.92mi
2908 Reisterstown Rd Baltimore, MD	2.0	1.0	750	$1,299	$1.73	43d	1	0.93mi
2906 Reisterstown Rd Baltimore, MD	2.0	1.0	750	$1,299	$1.73	43d	1	0.93mi
4828 Beaufort Ave Baltimore, MD	2.0	2.5	1200	$1,850	$1.54	23d	1	0.96mi
3701 Garrison Blvd Unit 3 Baltimore, MD	2.0	1.0	820	$1,399	$1.71	23d	1	0.99mi
3016 Thorndale Ave Baltimore, MD	1.0–3.0	1.0	700	$1,200	$1.71	4d	14	1.02mi
3600 Garrison Blvd Unit T2 Baltimore, MD	2.0	1.0	750	$1,149	$1.53	23d	1	1.03mi
3600 Garrison Blvd Apt T1 Baltimore, MD	2.0	1.0	800	$1,125	$1.41	3d	1	1.03mi
3904 Penhurst Ave Baltimore, MD	2.0	1.0	760	$1,175	$1.55	43d	1	1.05mi
3001 Carlisle Ave Baltimore, MD	3.0	1.0	1024	$1,300	$1.27	43d	1	1.05mi
2738 N Longwood St Baltimore, MD	3.0	1.0	1024	$1,399	$1.37	43d	1	1.06mi
2001 W Cold Spring Ln Baltimore, MD	1.0–3.0	1.0–2.0	1154	$3,505	$3.04	1d	31	1.08mi
2742 N Rosedale St Baltimore, MD	3.0	1.0	1024	$1,350	$1.32	43d	2	1.09mi
2601 Fairview Ave Baltimore, MD	2.0	1.0	700	$1,099	$1.57	43d	1	1.10mi
2905 Garrison Blvd Unit 21 Baltimore, MD	2.0	1.0	800	$1,175	$1.47	43d	1	1.10mi
3403 Carlisle Ave Apt 1 Baltimore, MD	2.0	1.0	1100	$1,600	$1.45	11d	1	1.13mi
5000 Litchfield Ave #1 Baltimore, MD	2.0	1.0	1100	$1,100	$1.00	43d	1	1.13mi
4910 Poe Ave Unit 2 Baltimore, MD	2.0	1.0	750	$990	$1.32	23d	1	1.18mi
3915 Liberty Heights Ave Gwynn Oak, MD	1.0–2.0	1.0–2.0	680	$1,345	$1.98	12d	5	1.18mi
4412 La Plata Ave Baltimore, MD	1.0–2.0	1.0	650	$1,534	$2.36	2d	12	1.18mi
3028 Hanlon Ave Baltimore, MD	3.0	2.0	1200	$1,711	$1.43	23d	1	1.20mi
4936 Lanier Ave Baltimore, MD	1.0–2.0	1.0	750	$1,370	$1.83	3d	5	1.22mi

Listing history 2 events

1. 2026-04-24
   status Pending
2. 2026-04-02
   listed $55,000 Active

ⓘ 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: $439 · $37/mo
• Projected year-2 tax: $519 · $43/mo
• Expected delta: +$80/yr (+$7/mo · 18.3%)

ⓘ 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: $19,586
• − Mortgage interest: −$3,081
• − Property taxes: −$439
• − Insurance: −$275
• − Repairs & maintenance: −$1,567
• − Management: −$1,567
• − Depreciation: −$1,600
• Taxable income: $11,057
• Est. tax owed @ 24.0%: −$2,654
• After-tax cash flow: $8,644/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

2 events — show timeline

• 2026-04-24 Pending — BRIGHT MLS
• 2026-04-02 Listed $55,000 BRIGHT MLS

Property tax history

-4.2%/yr

Latest (2025): $439 · +5.6% YoY. Source: county tax records.