3502 Carsdale Ave · Baltimore, MD 21207

$250,000

5 bd · 3.5 ba · 1,816 sqft · SingleFamily public records · 242 Days on market

Built 1909 8,400 sqft lot Est $312k · 20% 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 +22.5/30.0
• ARV discount +15.0/15.0
• Appreciation +9.8/10.0
• DSCR +7.2/10.0
• 1% rule +4.8/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0

Listing remarks MLS

Spacious 3300 Sq Ft 5 Bedroom, 3.5 Bath Home In 21207! Main Floor includes Master bedroom & Bathroom, Hardwood Floors, Tons of Natural Light, Large Kitchen With Stainless Steel Appliance & Granite Countertop Perfect For Entertainment. Second Floor Offers A Second Master Bedroom Ensuite, A 3rd Bdrm With 2 Level Deck! Bonus Large Private Yard & 2 Car Garage. Eligible for V2V $10,000 Grant!!

Key facts

• 8,400 sq ft lot
• 2 garage spots
• Built 1909

What this means for you Summary

Snapshot

• This is a 5-bed/3.5-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $422 ($5k/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 $245k (1.9% below list).
• Recommended offer: $220k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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 (+5.2%/yr); 126 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• This rent runs 44% of the median local income ($67k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $25k of equity ($2k loan paydown + $24k appreciation (9.5% local appreciation)).
• Baltimore County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (9.5% appreciation + 5.2% rent growth), your $70k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 242 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 23y ago; this cycle's ask has dropped $50k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1909 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 23% 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 $220,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 242 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1909 — 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: 0.98% ✗
• Cap rate: 8.32%
• Cash-on-cash: 7.23%
• DSCR: 1.32
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $312,352
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4315 Springdale Ave	0.41mi	5/2.5	1,928 (+6%)	1mo	$160,000	$83	66
3505 Grantley Rd	0.55mi	6/3.0 (+1)	1,837 (+1%)	2mo	$220,000	$120	64
4213 Springdale Ave	0.34mi	5/3.0	2,002 (+10%)	3mo	$370,000	$185	63
3901 Oakford Ave	0.50mi	4/3.5 (-1)	1,890 (+4%)	7mo	$350,000	$185	59
4203 Oakford Ave	0.51mi	4/2.0 (-1)	1,867 (+3%)	4mo	$150,000	$80	57
2907 Mount Holly St	0.59mi	4/3.5 (-1)	1,890 (+4%)	8mo	$355,000	$188	54
4310 Norfolk Ave	0.52mi	6/3.0 (+1)	1,990 (+10%)	4mo	$342,000	$172	49
4408 W Forest Park Ave	0.57mi	5/2.0	1,600 (-12%)	0mo	$360,000	$225	47
3511 Cedardale Rd	0.61mi	4/2.5 (-1)	2,002 (+10%)	7mo	$270,000	$135	40
4504 Norfolk Ave	0.65mi	4/2.5 (-1)	2,067 (+14%)	0mo	$267,000	$129	37
4306 Fernhill Ave	0.73mi	6/4.5 (+1)	2,085 (+15%)	0mo	$435,000	$209	32
2801 Allendale Rd	0.71mi	4/2.0 (-1)	2,067 (+14%)	4mo	$152,000	$74	30

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: 29.4%
• Equity multiple: 3.29×
• Total profit: $160,022
• Equity at exit: $216,152

10-year hold

• IRR: 26.3%
• Equity multiple: 7.58×
• Total profit: $460,372
• Equity at exit: $456,816

Cash invested: $70,000 (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 21207

• Home prices YoY: 1.1%
• Rents YoY: 5.2%
• Active inventory: 126
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,451 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$100 /mo · $1,195/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$515
• Net cashflow: $422

Break-even live

Break-even rent $1,917

Max offer price $250,000

Occupancy floor 78%

Sensitivity live

Price	-10% $563	-5% $493	+0% $422	+5% $351	+10% $280
Rent	-10% $228	-5% $325	+0% $422	+5% $519	+10% $615
Rate	-1.0pp $548	-0.5pp $485	base $422	+0.5pp $357	+1.0pp $291

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3784 Columbus Dr Baltimore, MD	4.0	2.0	1250	$2,200	$1.76	24d	1	0.80mi
4037 Cedardale Rd Baltimore, MD	5.0	3.0	1500	$2,800	$1.87	15d	1	0.92mi
3204 Sequoia Ave Baltimore, MD	4.0	2.5	1791	$2,600	$1.45	44d	1	0.95mi
3030 Windsor Ave Baltimore, MD	4.0	1.5	2124	$1,995	$0.94	5d	1	1.43mi

Listing history 19 events

1. 2025-11-20
   status Pending
2. 2025-06-24
   price $250,000
3. 2025-06-16
   status Active
4. 2024-12-17
   status Pending
5. 2024-11-27
   price $280,000
6. 2024-11-06
   status Active
7. 2024-10-30
   historical
8. 2024-09-16
   listed $300,000 Active
9. 2018-09-21
   soldstatus $263,750
10. 2018-08-23
    soldstatus $263,750 Closed 409-char remark

    Show marketing remark (409 chars)

    Spacious 3300 Sq Ft 5 Bedroom, 3.5 Bath Home In 21207! Main Floor includes Master bedroom & Bathroom, Hardwood Floors, Tons of Natural Light, Large Kitchen With Stainless Steel Appliance & Granite Countertop Perfect For Entertainment. Second Floor Offers A Second Master Bedroom Ensuite, A 3rd Bdrm With 2 Level Deck! Bonus Large Private Yard & 2 Car Garage. Eligible for V2V $10,000 Grant!!

11. 2018-08-23
    soldstatus $263,750 Sold 409-char remark

    Show marketing remark (409 chars)

    Spacious 3300 Sq Ft 5 Bedroom, 3.5 Bath Home In 21207! Main Floor includes Master bedroom & Bathroom, Hardwood Floors, Tons of Natural Light, Large Kitchen With Stainless Steel Appliance & Granite Countertop Perfect For Entertainment. Second Floor Offers A Second Master Bedroom Ensuite, A 3rd Bdrm With 2 Level Deck! Bonus Large Private Yard & 2 Car Garage. Eligible for V2V $10,000 Grant!!

12. 2018-07-20
    status Pending 409-char remark

    Show marketing remark (409 chars)

    Spacious 3300 Sq Ft 5 Bedroom, 3.5 Bath Home In 21207! Main Floor includes Master bedroom & Bathroom, Hardwood Floors, Tons of Natural Light, Large Kitchen With Stainless Steel Appliance & Granite Countertop Perfect For Entertainment. Second Floor Offers A Second Master Bedroom Ensuite, A 3rd Bdrm With 2 Level Deck! Bonus Large Private Yard & 2 Car Garage. Eligible for V2V $10,000 Grant!!

13. 2018-07-20
    status Contract 409-char remark

    Show marketing remark (409 chars)

    Spacious 3300 Sq Ft 5 Bedroom, 3.5 Bath Home In 21207! Main Floor includes Master bedroom & Bathroom, Hardwood Floors, Tons of Natural Light, Large Kitchen With Stainless Steel Appliance & Granite Countertop Perfect For Entertainment. Second Floor Offers A Second Master Bedroom Ensuite, A 3rd Bdrm With 2 Level Deck! Bonus Large Private Yard & 2 Car Garage. Eligible for V2V $10,000 Grant!!

14. 2018-06-22
    listed $254,900 Active 409-char remark

    Show marketing remark (409 chars)

    Spacious 3300 Sq Ft 5 Bedroom, 3.5 Bath Home In 21207! Main Floor includes Master bedroom & Bathroom, Hardwood Floors, Tons of Natural Light, Large Kitchen With Stainless Steel Appliance & Granite Countertop Perfect For Entertainment. Second Floor Offers A Second Master Bedroom Ensuite, A 3rd Bdrm With 2 Level Deck! Bonus Large Private Yard & 2 Car Garage. Eligible for V2V $10,000 Grant!!

15. 2018-06-22
    listed $254,900 Active 409-char remark

    Show marketing remark (409 chars)

    Spacious 3300 Sq Ft 5 Bedroom, 3.5 Bath Home In 21207! Main Floor includes Master bedroom & Bathroom, Hardwood Floors, Tons of Natural Light, Large Kitchen With Stainless Steel Appliance & Granite Countertop Perfect For Entertainment. Second Floor Offers A Second Master Bedroom Ensuite, A 3rd Bdrm With 2 Level Deck! Bonus Large Private Yard & 2 Car Garage. Eligible for V2V $10,000 Grant!!

16. 2003-04-25
    soldstatus $74,900
17. 2003-03-12
    historical
18. 2003-02-10
    listed $74,900
19. 1994-06-03
    soldstatus $70,000

ⓘ 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: $1,195 · $100/mo
• Projected year-2 tax: $1,960 · $163/mo
• Expected delta: +$765/yr (+$64/mo · 64.0%)

ⓘ 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 23% 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: $29,415
• − Mortgage interest: −$14,004
• − Property taxes: −$1,195
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,353
• − Management: −$2,353
• − Depreciation: −$7,273
• Taxable income: $987
• Est. tax owed @ 24.0%: −$237
• After-tax cash flow: $4,824/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 County · 769,527 people
• City population: 588,727
• 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): 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 (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: 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: ▲ 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

+257.1% since first listed

19 events — show timeline

• 2025-11-20 Pending — BRIGHT MLS
• 2025-06-24 Price Changed $250,000 BRIGHT MLS
• 2025-06-16 Relisted — BRIGHT MLS
• 2024-12-17 Pending — BRIGHT MLS
• 2024-11-27 Price Changed $280,000 BRIGHT MLS
• 2024-11-06 Relisted — BRIGHT MLS
• 2024-10-30 Listing Removed — BRIGHT MLS
• 2024-09-16 Listed $300,000 BRIGHT MLS
• 2018-09-21 Sold (Public Records) $263,750 Public Records
• 2018-08-23 Sold (MLS) $263,750 MRIS
• 2018-08-23 Sold (MLS) $263,750 BRIGHT MLS
• 2018-07-20 Pending — BRIGHT MLS
• 2018-07-20 Pending — MRIS
• 2018-06-22 Listed $254,900 MRIS
• 2018-06-22 Listed $254,900 BRIGHT MLS
• 2003-04-25 Sold (MLS) $74,900 MRIS
• 2003-03-12 Delisted — MRIS
• 2003-02-10 Listed $74,900 MRIS
• 1994-06-03 Sold (Public Records) $70,000 Public Records

Property tax history

-5.2%/yr

Latest (2025): $1,195 · +9.2% YoY. Source: county tax records.