4003 Edmondson Ave · Baltimore, MD 21229

$129,900

3 bd · 2.0 ba · 1,819 sqft · Townhouse public records · 59 Days on market

Built 1915 0.50 ac lot $71/sqft · at area comps Est $136k · at est.

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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 +9.4/15.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor opportunity in West Baltimore. Solid interior rowhome with approximately 1,300+ sq ft above grade, finished basement, and two full baths. Property features brick construction, front porch, and typical Baltimore rowhome layout. Built circa 1915 and situated in an established residential block. Property is being sold strictly AS-IS. Seller will make no repairs. Buyer to verify all information including ground rent, utilities, and property condition. Ideal for renovation, rental hold, or value-add investment. Cash or renovation financing strongly preferred. Do not miss this opportunity to acquire a well-located asset with strong upside potential in a developing area.

Key facts

• Interior rowhome
• Front porch
• Finished basement

Tags

• INTERIOR ROWHOME
• FINISHED BASEMENT
• BRICK CONSTRUCTION
• FRONT PORCH
• BALTIMORE ROWHOME LAYOUT
• ESTABLISHED RESIDENTIAL BLOCK

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $130k.

Deal economics

• At list price, monthly cash flow is $521 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.1% 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: 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 (+5.4%/yr); 252 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); 40% 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 39% of the median local income ($60k/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 $898 of loan paydown is wiped out by about $4k 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 + 5.4% rent growth), your $36k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 24% 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 $126,003 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.52% ✓
• Cap rate: 11.11%
• Cash-on-cash: 17.20%
• DSCR: 1.77
• GRM: 5.5

CMA / ARV

• ARV (median comp): $135,606
• List price: $129,900
• Delta: -4.21%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
120 Allendale St	0.34mi	3/2.0	1,728 (-5%)	2mo	$225,000	$130	74
327 Lyndhurst St	0.19mi	4/2.5 (+1)	1,953 (+7%)	4mo	$216,000	$111	69
414 Normandy Ave	0.11mi	4/3.5 (+1)	1,976 (+9%)	1mo	$255,000	$129	68
3904 Woodridge Rd	0.26mi	3/1.0	1,650 (-9%)	3mo	$215,000	$130	66
827 N Augusta Ave	0.28mi	3/2.0	1,600 (-12%)	3mo	$211,000	$132	65
733 Lyndhurst St	0.21mi	3/1.5	1,550 (-15%)	2mo	$85,000	$55	62
743 Linnard St	0.46mi	4/2.0 (+1)	1,693 (-7%)	1mo	$199,000	$118	61
1231 Kevin Rd	0.63mi	3/2.0	1,728 (-5%)	2mo	$225,000	$130	61
704 Mount Holly St	0.19mi	4/3.0 (+1)	2,040 (+12%)	2mo	$230,000	$113	60
3410 W Franklin St	0.43mi	3/3.0	2,040 (+12%)	2mo	$213,580	$105	54
428 N Hilton St	0.53mi	3/1.0	1,578 (-13%)	3mo	$64,000	$41	46
4515 Maple Wood Dr	0.47mi	4/3.5 (+1)	2,056 (+13%)	2mo	$351,000	$171	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 · 5.38% rent growth · sell at horizon

5-year hold

• IRR: 11.5%
• Equity multiple: 1.47×
• Total profit: $17,101
• Equity at exit: $19,369

10-year hold

• IRR: 22.5%
• Equity multiple: 3.17×
• Total profit: $78,953
• Equity at exit: $11,231

Cash invested: $36,372 (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 21229

• Rents YoY: 5.4%
• Active inventory: 252
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,974 high
• Mortgage (P&I): −$681
• Tax from tax record: −$303 /mo · $3,630/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $521

Break-even live

Break-even rent $1,314

Max offer price $129,900

Occupancy floor 69%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4020 Gelston Dr Baltimore, MD	3.0	2.0	1270	$1,875	$1.48	43d	1	0.12mi
409 Normandy Ave Baltimore, MD	4.0	1.0	1640	$1,500	$0.91	23d	1	0.17mi
3712 Gelston Dr Baltimore, MD	3.0	2.0	1250	$2,500	$2.00	23d	1	0.24mi
3619 Edmondson Ave Baltimore, MD	4.0	3.5	1962	$2,800	$1.43	43d	1	0.28mi
3706 W Saratoga St Unit 1 Baltimore, MD	2.0	1.0	1540	$1,350	$0.88	43d	1	0.30mi
3700 Woodridge Rd Baltimore, MD	3.0	1.5	1955	$1,950	$1.00	43d	1	0.32mi
623 N Grantley St Baltimore, MD	4.0	2.0	1250	$2,000	$1.60	23d	1	0.33mi
3507 Edmondson Ave Baltimore, MD	4.0	2.0	1428	$2,300	$1.61	43d	1	0.38mi
730 Linnard St Unit 1 Baltimore, MD	4.0	1.0	1360	$1,750	$1.29	23d	1	0.40mi
405 N Edgewood St Baltimore, MD	4.0	2.0	1408	$2,950	$2.10	4d	1	0.44mi
3423 Edmondson Ave Baltimore, MD	2.0	1.5	1400	$1,710	$1.22	43d	1	0.44mi
202 N Edgewood St Baltimore, MD	3.0	2.0	1710	$2,250	$1.32	23d	1	0.44mi
4113 Mountwood Rd Baltimore, MD	3.0	1.0	1520	$1,795	$1.18	43d	1	0.47mi
798 N Grantley St Baltimore, MD	3.0	2.0	1360	$2,295	$1.69	23d	1	0.48mi
3324 Edmondson Ave Baltimore, MD	3.0	2.5	2300	$1,995	$0.87	21d	1	0.50mi
117 Collins Ave Baltimore, MD	3.0	3.0	1617	$2,350	$1.45	43d	1	0.65mi
212 S Loudon Ave Baltimore, MD	3.0	1.5	1310	$1,550	$1.18	43d	1	0.75mi
3336 W Caton Ave Baltimore, MD	3.0	2.0	1236	$1,625	$1.31	23d	1	0.75mi
3238 Westmont Ave Baltimore, MD	3.0	1.0	1280	$1,600	$1.25	43d	1	0.81mi
4227 Euclid Ave Unit B Baltimore, MD	2.0	1.0	2200	$1,050	$0.48	43d	1	0.83mi
2922 Edmondson Ave Baltimore, MD	3.0	2.0	1620	$1,900	$1.17	43d	1	0.93mi
2 S Tremont Rd Baltimore, MD	3.0	2.0	1450	$1,800	$1.24	23d	1	0.98mi
2 S Tremont Rd Baltimore, MD	3.0	2.0	1450	$1,800	$1.24	10d	1	0.98mi
3709 Nortonia Rd #2 Baltimore, MD	2.0	1.0	1289	$1,450	$1.12	17d	1	0.98mi
19 S Tremont Rd Baltimore, MD	3.0	1.0	1350	$1,850	$1.37	43d	1	0.99mi
1513 N Ellamont St Baltimore, MD	3.0	1.0	1700	$1,700	$1.00	23d	1	1.01mi
1633 N Hilton St Baltimore, MD	4.0	2.5	1920	$2,600	$1.35	17d	1	1.06mi
1530 N Rosedale St Baltimore, MD	3.0	2.0	1641	$1,895	$1.15	14d	1	1.07mi
3003 Presstman St Unit 1 Baltimore, MD	2.0	2.0	1450	$1,400	$0.97	44d	1	1.09mi
3003 Presstman St Unit 2 Baltimore, MD	2.0	1.0	1450	$1,300	$0.90	23d	1	1.09mi
2806 Riggs Ave Baltimore, MD	3.0	2.5	1412	$1,900	$1.35	3d	1	1.12mi
2744 W Mosher St Baltimore, MD	4.0	2.0	1412	$2,100	$1.49	23d	1	1.14mi
1402 Poplar Grove St Baltimore, MD	4.0	1.5	1540	$800	$0.52	43d	1	1.14mi
2103 Chelsea Ter Unit 2 Baltimore, MD	3.0	1.5	1500	$2,100	$1.40	14d	1	1.20mi
2103 Chelsea Ter Unit 1 Baltimore, MD	2.0	2.0	1500	$2,200	$1.47	14d	1	1.20mi
2728 Winchester St Baltimore, MD	3.0	1.5	1260	$1,800	$1.43	3d	1	1.21mi
2636 Lauretta Ave Baltimore, MD	3.0	2.5	1232	$1,900	$1.54	43d	1	1.21mi
2609 Lauretta Ave Baltimore, MD	3.0	1.0	1286	$1,675	$1.30	23d	1	1.25mi
2800 Presstman St Baltimore, MD	3.0	2.5	1460	$1,799	$1.23	23d	1	1.27mi
500 Lucia Ave Baltimore, MD	3.0	2.0	1472	$2,100	$1.43	16d	1	1.33mi

Listing history 27 events

1. 2026-06-18
   days on market $129,900 Active 59 DOM
2. 2026-06-17
   days on market $129,900 Active 58 DOM
3. 2026-06-16
   days on market $129,900 Active 57 DOM
4. 2026-06-15
   days on market $129,900 Active 56 DOM
5. 2026-06-13
   days on market $129,900 Active 54 DOM
6. 2026-06-09
   days on market $129,900 Active 50 DOM
7. 2026-06-08
   days on market $129,900 Active 49 DOM
8. 2026-06-07
   days on market $129,900 Active 48 DOM
9. 2026-06-04
   days on market $129,900 Active 45 DOM
10. 2026-06-03
    days on market $129,900 Active 44 DOM
11. 2026-06-02
    days on market $129,900 Active 43 DOM
12. 2026-06-01
    days on market $129,900 Active 42 DOM
13. 2026-05-31
    days on market $129,900 Active 41 DOM
14. 2026-04-21
    listed $135,000 Active 681-char remark

    Show marketing remark (681 chars)

    Investor opportunity in West Baltimore. Solid interior rowhome with approximately 1,300+ sq ft above grade, finished basement, and two full baths. Property features brick construction, front porch, and typical Baltimore rowhome layout. Built circa 1915 and situated in an established residential block. Property is being sold strictly AS-IS. Seller will make no repairs. Buyer to verify all information including ground rent, utilities, and property condition. Ideal for renovation, rental hold, or value-add investment. Cash or renovation financing strongly preferred. Do not miss this opportunity to acquire a well-located asset with strong upside potential in a developing area.

15. 2023-01-03
    soldstatus $195,000
16. 2022-11-09
    soldstatus $225,000
17. 2020-02-28
    soldstatus $360,807
18. 2016-08-05
    soldstatus $28,000 Sold 416-char remark

    Show marketing remark (416 chars)

    * * * Investor Alert * * * 1st Time Buyer with Renovation Loan * * * This precious treasure is waiting for YOU!!! Don't overlook this opportunity to add your personal touch in a great community!!! Home being sold AS IS seller will make NO REPAIRS. EMD needs to be certified funds held by and made out to Listing BROKER to e submitted at offer acceptance. * * * Ground rent to be determined by buyer * * *

19. 2016-08-05
    soldstatus $28,000

    Show marketing remark (416 chars)

    * * * Investor Alert * * * 1st Time Buyer with Renovation Loan * * * This precious treasure is waiting for YOU!!! Don't overlook this opportunity to add your personal touch in a great community!!! Home being sold AS IS seller will make NO REPAIRS. EMD needs to be certified funds held by and made out to Listing BROKER to e submitted at offer acceptance. * * * Ground rent to be determined by buyer * * *

20. 2016-07-19
    status Contract 416-char remark

    Show marketing remark (416 chars)

    * * * Investor Alert * * * 1st Time Buyer with Renovation Loan * * * This precious treasure is waiting for YOU!!! Don't overlook this opportunity to add your personal touch in a great community!!! Home being sold AS IS seller will make NO REPAIRS. EMD needs to be certified funds held by and made out to Listing BROKER to e submitted at offer acceptance. * * * Ground rent to be determined by buyer * * *

21. 2016-06-23
    price $29,900 416-char remark

    Show marketing remark (416 chars)

    * * * Investor Alert * * * 1st Time Buyer with Renovation Loan * * * This precious treasure is waiting for YOU!!! Don't overlook this opportunity to add your personal touch in a great community!!! Home being sold AS IS seller will make NO REPAIRS. EMD needs to be certified funds held by and made out to Listing BROKER to e submitted at offer acceptance. * * * Ground rent to be determined by buyer * * *

22. 2016-05-20
    listed $39,900 Active 416-char remark

    Show marketing remark (416 chars)

    * * * Investor Alert * * * 1st Time Buyer with Renovation Loan * * * This precious treasure is waiting for YOU!!! Don't overlook this opportunity to add your personal touch in a great community!!! Home being sold AS IS seller will make NO REPAIRS. EMD needs to be certified funds held by and made out to Listing BROKER to e submitted at offer acceptance. * * * Ground rent to be determined by buyer * * *

23. 2008-03-14
    soldstatus $125,000
24. 2006-12-04
    soldstatus $26,000
25. 1995-06-05
    soldstatus $44,000
26. 1993-01-29
    soldstatus $30,000
27. 1993-01-29
    soldstatus $32,000

ⓘ 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: $3,630 · $303/mo
• Projected year-2 tax: $3,630 · $303/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 5/10 Major 24% 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: $23,682
• − Mortgage interest: −$7,276
• − Property taxes: −$3,630
• − Insurance: −$650
• − Repairs & maintenance: −$1,895
• − Management: −$1,895
• − Depreciation: −$3,779
• Taxable income: $4,558
• Est. tax owed @ 24.0%: −$1,094
• After-tax cash flow: $5,161/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): 46,679
• Household income: $60,047
• Rent vs Own: 43.1% rent · 56.9% own
• Severe rent burden: 2776.0

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 15% Hispanic / Latino 6% Two or more races 4% Asian 3%
• Common ancestry: Lithuanian 1% Romanian 1% Serbian 1%
• Foreign-born: 5% · Canada, Philippines
• Languages at home: 91% English-only · Spanish 4% Other Indo-European 2% 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: ▼ -259.07%
• Current HPI: 226.896
• Rent YoY: ▲ 5.38%
• 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

+350.0% since first listed

14 events — show timeline

• 2026-04-21 Listed $135,000 BRIGHT MLS
• 2023-01-03 Sold (Public Records) $195,000 Public Records
• 2022-11-09 Sold (Public Records) $225,000 Public Records
• 2020-02-28 Sold (Public Records) $360,807 Public Records
• 2016-08-05 Sold (MLS) $28,000 BRIGHT MLS
• 2016-08-05 Sold (MLS) $28,000 MRIS
• 2016-07-19 Pending — MRIS
• 2016-06-23 Price Changed $29,900 MRIS
• 2016-05-20 Listed $39,900 MRIS
• 2008-03-14 Sold (Public Records) $125,000 Public Records
• 2006-12-04 Sold (Public Records) $26,000 Public Records
• 1995-06-05 Sold (Public Records) $44,000 Public Records
• 1993-01-29 Sold (Public Records) $32,000 Public Records
• 1993-01-29 Sold (Public Records) $30,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $3,630 · +41.4% YoY. Source: county tax records.