1903 Heathfield Rd · Baltimore, MD 21239

$215,000

3 bd · 1.0 ba · 1,280 sqft · Townhouse public records · 26 Days on market

Built 1953 2,178 sqft lot Est $243k · 12% under

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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 +15.0/30.0
• ARV discount +12.7/15.0
• DSCR +4.6/10.0
• 1% rule +3.9/10.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Wonderful porch front townhome with gleaming wood floors on first and second level. Spacious living room. Formal dining room with chair rails, bay window, bar and pass-through to kitchen. Bright kitchen has recessed lighting, ceiling fans, ceramic tile floors, and soft close drawers. From Kitchen, access to porch, and yard and entry to lower level. 3 bedrooms on second level also have gleaming wood floors. Recently updated bath has "marble" surround, classy vanity. Plenty storage in closet and cabinet. Stairs to spacious 3rd level bonus space which can be storage but has great potential (see sales of homes renovated nearby) as 4th bedroom, 2nd family room, quiet study, art or musi

Key facts

• Bright kitchen
• Formal dining room
• Soft close drawers

Tags

• PORCH FRONT TOWNHOME
• GLEAMING WOOD FLOORS
• FORMAL DINING ROOM
• BRIGHT KITCHEN
• RECESSED LIGHTING
• SOFT CLOSE DRAWERS

Property features AI

Finance

• Other: Total below-grade finished area exists; Ground rent payment listed as an annual/periodic expense
• Financial info: Ownership interest: Ground rent
• HOA & community: Ground rent exists; paid semi-annually

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Municipal trash service
• Home design: Interior townhouse/rowhouse; Estimated year built
• Construction: Brick construction; Asphalt roof; Concrete perimeter foundation
• Exterior features: Patio(s); Porch(es); Above grade and below grade finished areas; Daylight, partial basement with walkout stairs and rear entrance

Interior

• Kitchen: Oven/Range - Gas; Microwave; Range hood; Refrigerator
• Bedrooms: 3 bedrooms on main level
• Flooring: Hardwood floors; Wood floors
• Bathrooms: 1 full bathroom on main level; 1 half bathroom on main level
• Heating & cooling: Forced air heating (natural gas); Natural gas hot water; Attic fan; Ceiling fans; Window AC units
• Interior features: Attic; Tub with shower; Ceiling fans; Chair railings; Dining area; Formal dining room; Eat-in kitchen; Recessed lighting; Wood floors
• Laundry & utility: Washer in unit; Dryer; Laundry located in basement / lower level; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $215k.

Deal economics

• At list price, monthly cash flow is $65 ($781/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 $192k (10.6% below list).
• Recommended offer: $192k (10.6% below list) — sets the bar for 1% rule.

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 (+2.9%/yr); 71 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 37% of the median local income ($63k/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 $1k of loan paydown is wiped out by about $6k 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 26 days — a 2% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $50k; list at $215k implies a 330% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1953 — 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 $192,181 (10.6% below list)

Questions for the listing agent

1. Built in 1953 — 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. 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?
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: 0.89% ✗
• Cap rate: 6.66%
• Cash-on-cash: 1.30%
• DSCR: 1.06
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $243,200
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1809 Northbourne Rd	0.17mi	4/2.0 (+1)	1,280 (0%)	5mo	$256,000	$200	79
1648 Ingram Rd	0.09mi	3/2.0	1,344 (+5%)	8mo	$334,000	$249	77
1653 Stonewood Rd	0.26mi	4/2.0 (+1)	1,254 (-2%)	1mo	$237,000	$189	75
1607 Stonewood Rd	0.32mi	3/2.0	1,216 (-5%)	1mo	$273,000	$225	72
2403 Hermosa Ave	0.46mi	3/2.0	1,248 (-2%)	0mo	$250,000	$200	70
1554 Pentwood Rd	0.40mi	3/1.0	1,216 (-5%)	8mo	$150,000	$123	66
1645 Gleneagle Rd	0.59mi	3/1.5	1,330 (+4%)	4mo	$170,000	$128	61
1662 E Cold Spring Ln	0.42mi	4/2.0 (+1)	1,364 (+7%)	2mo	$275,000	$202	59
1324 Crofton Rd	0.70mi	3/1.5	1,240 (-3%)	4mo	$235,000	$190	57
1910 Woodbourne Ave	0.30mi	3/1.5	1,472 (+15%)	7mo	$215,000	$146	53
1530 Burnwood Rd	0.34mi	3/3.0	1,428 (+12%)	7mo	$270,000	$189	51
1632 Northwick Rd	0.61mi	3/2.0	1,463 (+14%)	4mo	$230,000	$157	40

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 · 2.86% rent growth · sell at horizon

5-year hold

• IRR: -14.4%
• Equity multiple: 0.49×
• Total profit: $-30,958
• Equity at exit: $32,057

10-year hold

• IRR: -5.9%
• Equity multiple: 0.62×
• Total profit: $-22,692
• Equity at exit: $18,589

Cash invested: $60,200 (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 21239

• Rents YoY: 2.9%
• Active inventory: 71
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,922 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$236 /mo · $2,833/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $65

Break-even live

Break-even rent $1,839

Max offer price $215,000

Occupancy floor 92%

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1804 Winford Rd Baltimore, MD	3.0	1.5	1600	$2,100	$1.31	24d	1	0.12mi
2028 Hillenwood Rd Baltimore, MD	4.0	2.0	1820	$2,100	$1.15	22d	1	0.28mi
2077 Woodbourne Ave Baltimore, MD	1.0–2.0	1.0	830	$1,419	$1.71	1d	5	0.37mi
1908 E Belvedere Ave Baltimore, MD	4.0	2.0	1425	$1,950	$1.37	20d	1	0.44mi
1726 E Belvedere Ave Baltimore, MD	3.0	2.0	1140	$1,895	$1.66	22d	1	0.46mi
1545 E Cold Spring Ln Baltimore, MD	4.0	2.0	1240	$2,000	$1.61	43d	1	0.51mi
1900 Ramblewood Rd Apt A Baltimore, MD	2.0	2.0	903	$1,847	$2.05	43d	1	0.56mi
5204 Kelway Rd Baltimore, MD	3.0	2.0	1666	$2,350	$1.41	24d	1	0.60mi
5781 Edgepark Rd Baltimore, MD	3.0	2.0	1568	$1,975	$1.26	16d	1	0.63mi
5520 Sagra Rd Baltimore, MD	3.0	1.5	1650	$1,900	$1.15	43d	1	0.64mi
1806 Ramblewood Rd Apt A Baltimore, MD	2.0	2.0	903	$1,847	$2.05	43d	1	0.65mi
1275 Kitmore Rd Unit 1262B-A Baltimore, MD	2.0	1.0	923	$1,320	$1.43	2d	1	0.75mi
1275 Kitmore Rd Unit 1245K-T Baltimore, MD	3.0	1.0	935	$1,895	$2.03	4d	1	0.75mi
1646 Wadsworth Way Baltimore, MD	3.0	1.0	1520	$2,100	$1.38	11d	1	0.77mi
1221 Glenwood Ave Baltimore, MD	3.0	2.0	1390	$2,595	$1.87	43d	1	0.78mi
2807 Shirey Ave Baltimore, MD	4.0	3.0	1190	$2,500	$2.10	14d	1	0.80mi
1224 Winston Ave Baltimore, MD	3.0	2.0	1248	$2,100	$1.68	17d	1	0.80mi
1260 Rossiter Ave Baltimore, MD	2.0	1.0	710	$1,250	$1.76	1d	37	0.81mi
1508 Gleneagle Rd Baltimore, MD	3.0	2.0	1824	$2,180	$1.20	4d	1	0.81mi
2911 Shirey Ave Baltimore, MD	4.0	2.0	1680	$2,500	$1.49	20d	1	0.85mi
1617 Argonne Dr Baltimore, MD	4.0	2.0	1200	$2,550	$2.12	43d	1	0.86mi
2900 Ailsa Ave Apt 2 Baltimore, MD	3.0	1.0	1300	$1,750	$1.35	4d	1	0.88mi
1539 Ralworth Rd Baltimore, MD	3.0	2.0	1580	$1,950	$1.23	14d	1	0.94mi
2106 Cloville Ave Baltimore, MD	3.0	1.5	1080	$1,700	$1.57	43d	1	0.96mi
1006 Cameron Rd Baltimore, MD	2.0	1.0	1032	$950	$0.92	43d	1	0.98mi
1008 Tunbridge Rd Baltimore, MD	3.0	2.0	1732	$2,050	$1.18	24d	1	0.99mi
2805 Hamilton Ave Baltimore, MD	4.0	2.0	1416	$2,300	$1.62	43d	1	1.05mi
5622 Midwood Ave Baltimore, MD	3.0	2.0	1452	$2,300	$1.58	43d	1	1.07mi
5626 Midwood Ave Unit 2 Baltimore, MD	2.0	1.0	1452	$1,100	$0.76	24d	1	1.08mi
1111 Gleneagle Rd Unit 2 Baltimore, MD	2.0	1.0	1452	$1,050	$0.72	43d	1	1.11mi
1116 Gleneagle Rd Unit 2 Baltimore, MD	2.0	1.0	876	$1,750	$2.00	43d	1	1.13mi
1106 Gleneagle Rd Unit 2 Baltimore, MD	2.0	1.0	1100	$1,450	$1.32	43d	1	1.14mi
3309 Southern Ave Unit 2 Baltimore, MD	2.0	1.0	1200	$1,600	$1.33	12d	1	1.17mi
804 Radnor Ave Baltimore, MD	3.0	1.0	1654	$2,000	$1.21	43d	1	1.18mi
835 E Cold Spring Ln Baltimore, MD	2.0	1.5	997	$1,400	$1.40	24d	1	1.19mi
6212 Laurelton Ave Baltimore, MD	2.0	1.0	960	$1,325	$1.38	43d	1	1.19mi
1444 Meridene Dr Baltimore, MD	3.0	1.5	1520	$1,950	$1.28	43d	1	1.19mi
828 Saint Dunstans Rd Baltimore, MD	3.0	2.0	1544	$2,000	$1.30	24d	1	1.21mi
6101 Loch Raven Blvd Baltimore, MD	1.0–2.0	1.0–2.0	1138	$2,318	$2.04	2d	8	1.25mi
812 Nat Ct Apt 12 Baltimore, MD	2.0	1.0	900	$1,295	$1.44	43d	1	1.25mi

Listing history 15 events

1. 2026-06-18
   days on market $215,000 Active 26 DOM
2. 2026-06-17
   days on market $215,000 Active 25 DOM
3. 2026-06-16
   days on market $215,000 Active 24 DOM
4. 2026-06-15
   days on market $215,000 Active 23 DOM
5. 2026-06-13
   days on market $215,000 Active 21 DOM
6. 2026-06-09
   days on market $215,000 Active 17 DOM
7. 2026-06-08
   days on market $215,000 Active 16 DOM
8. 2026-06-07
   days on market $215,000 Active 15 DOM
9. 2026-06-04
   days on market $215,000 Active 12 DOM
10. 2026-06-03
    days on market $215,000 Active 11 DOM
11. 2026-06-02
    days on market $215,000 Active 10 DOM
12. 2026-06-01
    days on market $215,000 Active 9 DOM
13. 2026-05-31
    days on market $215,000 Active 8 DOM
14. 2026-05-23
    listed $215,000 Active
15. 1987-04-15
    soldstatus $50,000

ⓘ 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: $2,833 · $236/mo
• Projected year-2 tax: $2,833 · $236/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: $23,062
• − Mortgage interest: −$12,043
• − Property taxes: −$2,833
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,845
• − Management: −$1,845
• − Depreciation: −$6,255
• Taxable loss: −$2,834
• Est. tax savings @ 24.0%: +$680
• After-tax cash flow: $1,461/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): 27,346
• Household income: $62,650
• Rent vs Own: 44.8% rent · 55.2% own
• Severe rent burden: 1103.0

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 (76%)
• Race & ethnicity: Black 76% White 12% Asian 4% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Lithuanian 1% Romanian 1% Russian 1%
• Foreign-born: 10% · Canada, United Kingdom, China
• Languages at home: 88% English-only · Other Indo-European 3% Spanish 2% French/Haitian/Cajun 2%

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: ▼ -164.48%
• Current HPI: 258.094
• Rent YoY: ▲ 2.86%
• 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

+330.0% since first listed

2 events — show timeline

• 2026-05-23 Listed $215,000 BRIGHT MLS
• 1987-04-15 Sold (Public Records) $50,000 Public Records

Property tax history

-0.6%/yr

Latest (2025): $2,833 · +1.9% YoY. Source: county tax records.