3915 Ednor Rd · Baltimore, MD 21218

$190,000

3 bd · 1.0 ba · 1,600 sqft · Townhouse public records · 142 Days on market

Built 1940 $119/sqft · 21% below area Est $241k · 21% under ↓ 27% since listing

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Why this score? — see what drove the C 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 +19.0/30.0
• ARV discount +15.0/15.0
• DSCR +6.0/10.0
• 1% rule +5.5/10.0
• Livability +3.8/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Estate Sale! Sold "as is". 203K or rehab loan required. Great location and in good shape . 3 bedrooms 1.5 baths, wood floors throughout. Natural gas heat with radiators, central A/C installed as well. Ready for quick closing.

Key facts

• Built 1940
• Listed 142 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $190k.

Deal economics

• At list price, monthly cash flow is $199 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $167k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 6.0% in Baltimore — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 (+1.6%/yr); 325 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 ($62k/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 142 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $70k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1940 — 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 $167,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 142 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 1940 — 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: 1.05% ✓
• Cap rate: 7.55%
• Cash-on-cash: 4.50%
• DSCR: 1.20
• GRM: 7.9

CMA / ARV

• ARV (median comp): $240,896
• List price: $190,000
• Delta: -21.13%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
923 North Hill Rd	0.19mi	3/2.0	1,652 (+3%)	2mo	$277,500	$168	80
3628 Elkader Rd	0.28mi	3/1.0	1,675 (+5%)	2mo	$272,000	$162	78
1101 Andover Rd	0.09mi	4/2.0 (+1)	1,500 (-6%)	2mo	$257,000	$171	75
1301 Northview Rd	0.49mi	3/1.5	1,605 (+0%)	2mo	$315,000	$196	73
1510 Medford Rd	0.32mi	3/2.0	1,700 (+6%)	2mo	$285,000	$168	69
3953 Wilsby Ave	0.32mi	4/2.0 (+1)	1,716 (+7%)	1mo	$235,000	$137	63
609 E 41st St	0.51mi	3/2.0	1,728 (+8%)	1mo	$79,100	$46	58
1509 Shadyside Rd	0.37mi	3/2.0	1,792 (+12%)	2mo	$208,000	$116	57
617 Willow Ave	0.72mi	3/2.0	1,641 (+3%)	2mo	$235,000	$143	56
3613 Greenmount Ave	0.57mi	3/3.0	1,732 (+8%)	1mo	$207,000	$120	51
805 E 34th St	0.51mi	3/3.0	1,767 (+10%)	1mo	$300,000	$170	50
609 Melville Ave	0.52mi	4/2.0 (+1)	1,364 (-15%)	1mo	$120,000	$88	41

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 · 1.63% rent growth · sell at horizon

5-year hold

• IRR: -10.9%
• Equity multiple: 0.61×
• Total profit: $-20,730
• Equity at exit: $28,330

10-year hold

• IRR: -3.7%
• Equity multiple: 0.77×
• Total profit: $-12,238
• Equity at exit: $16,428

Cash invested: $53,200 (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 21218

• Rents YoY: 1.6%
• Active inventory: 325
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,992 high
• Mortgage (P&I): −$996
• Tax from tax record: −$299 /mo · $3,587/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $199

Break-even live

Break-even rent $1,740

Max offer price $190,000

Occupancy floor 85%

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4006 Loch Raven Blvd Baltimore, MD	3.0	2.5	2016	$2,695	$1.34	17d	1	0.29mi
3721 Ellerslie Ave Baltimore, MD	1.0–3.0	1.0–2.0	894	$1,603	$1.79	1d	1	0.32mi
1502 Fernley Rd Baltimore, MD	3.0	2.0	1350	$2,800	$2.07	43d	1	0.41mi
721 E 36th St Unit Na Baltimore, MD	2.0	1.0	1156	$1,650	$1.43	43d	1	0.45mi
1539 Ralworth Rd Baltimore, MD	3.0	2.0	1580	$1,950	$1.23	14d	1	0.45mi
724 E 35th St Baltimore, MD	3.0	1.5	1368	$2,000	$1.46	14d	1	0.50mi
720 Springfield Ave Baltimore, MD	3.0	1.0	1160	$2,000	$1.72	43d	1	0.50mi
1617 Argonne Dr Baltimore, MD	4.0	2.0	1200	$2,550	$2.12	43d	1	0.52mi
513 E 41st St Baltimore, MD	4.0	1.5	1620	$1,900	$1.17	43d	1	0.55mi
706 E 43rd St Baltimore, MD	4.0	1.5	1596	$1,899	$1.19	1d	1	0.57mi
4033 Greenmount Ave Baltimore, MD	2.0	2.5	1860	$2,550	$1.37	23d	1	0.59mi
3529 Greenmount Ave Baltimore, MD	3.0	2.0	1316	$1,575	$1.20	43d	1	0.63mi
3213 The Alameda Baltimore, MD	2.0	1.0	1708	$1,295	$0.76	3d	1	0.63mi
3222 Ellerslie Ave Baltimore, MD	4.0	1.5	1550	$1,950	$1.26	43d	1	0.63mi
4303 York Rd #3 Baltimore, MD	2.0	1.0	1680	$1,400	$0.83	43d	1	0.66mi
4407 Old York Rd Baltimore, MD	3.0	1.5	1356	$1,574	$1.16	20d	1	0.71mi
4407 Old York Rd Baltimore, MD	3.0	1.5	1356	$1,574	$1.16	43d	1	0.71mi
1702 E 32nd St Baltimore, MD	3.0	2.0	1344	$2,300	$1.71	43d	1	0.73mi
531 Willow Ave Unit Na Baltimore, MD	4.0	1.0	1300	$1,800	$1.38	20d	1	0.78mi
616 Montpelier St Baltimore, MD	3.0	1.0	1150	$1,750	$1.52	10d	1	0.81mi
936 Montpelier St Baltimore, MD	2.0	1.0	1260	$1,450	$1.15	23d	1	0.82mi
348 E University Pkwy Baltimore, MD	4.0	2.0	1809	$2,400	$1.33	43d	1	0.83mi
1545 E Cold Spring Ln Baltimore, MD	4.0	2.0	1240	$2,000	$1.61	43d	1	0.83mi
4754 Alhambra Ave Baltimore, MD	3.0	2.0	1876	$1,500	$0.80	23d	1	0.84mi
804 Radnor Ave Baltimore, MD	3.0	1.0	1654	$2,000	$1.21	43d	1	0.84mi
1519 E 28th St Baltimore, MD	3.0	2.0	1100	$1,350	$1.23	43d	1	0.89mi
1539 Abbotston St Baltimore, MD	3.0	2.0	1800	$1,995	$1.11	43d	1	0.90mi
1539 Abbotston St Baltimore, MD	3.0	2.0	1900	$1,899	$1.00	4d	1	0.90mi
3601 Greenway #101 Baltimore, MD	2.0	2.0	1470	$2,700	$1.84	4d	1	0.92mi
1224 Winston Ave Baltimore, MD	3.0	2.0	1248	$2,100	$1.68	17d	1	0.93mi
1802 E 28th St Baltimore, MD	3.0	1.0	1300	$1,600	$1.23	23d	1	0.94mi
1832 E 28th St Baltimore, MD	3.0	1.0	1066	$1,495	$1.40	23d	1	0.96mi
514 Radnor Ave Baltimore, MD	3.0	1.5	1575	$1,500	$0.95	44d	1	0.98mi
3501 Saint Paul St Baltimore, MD	3.0	1.0–2.5	916	$2,700	$2.95	1d	172	0.98mi
1 E University Pkwy Baltimore, MD	1.0–3.0	1.0–2.0	1045	$2,500	$2.39	4d	2	1.01mi
3201 Saint Paul St Baltimore, MD	1.0–2.0	1.5–2.0	1532	$3,200	$2.09	2d	1	1.06mi
2606 Cecil Ave Baltimore, MD	2.0	1.5	1200	$1,500	$1.25	43d	1	1.07mi
519 E 28th St Baltimore, MD	3.0	2.0	1500	$2,000	$1.33	4d	1	1.09mi
424 Ilchester Ave Baltimore, MD	3.0	3.0	1976	$1,800	$0.91	14d	1	1.09mi
5204 Kelway Rd Baltimore, MD	3.0	2.0	1666	$2,350	$1.41	23d	1	1.09mi

Listing history 21 events

1. 2026-06-18
   days on market $190,000 Active 142 DOM
2. 2026-06-17
   days on market $190,000 Active 141 DOM
3. 2026-06-16
   days on market $190,000 Active 140 DOM
4. 2026-06-15
   days on market $190,000 Active 139 DOM
5. 2026-06-13
   days on market $190,000 Active 137 DOM
6. 2026-06-09
   days on market $190,000 Active 133 DOM
7. 2026-06-08
   days on market $190,000 Active 132 DOM
8. 2026-06-07
   days on market $190,000 Active 131 DOM
9. 2026-06-04
   days on market $190,000 Active 128 DOM
10. 2026-06-03
    days on market $190,000 Active 127 DOM
11. 2026-06-02
    days on market $190,000 Active 126 DOM
12. 2026-06-01
    days on market $190,000 Active 125 DOM
13. 2026-05-31
    days on market $190,000 Active 124 DOM
14. 2026-05-08
    price $190,000 236-char remark

    Show marketing remark (236 chars)

    Estate Sale! Sold "as is". 203K or rehab loan required. Great location and in good shape . 3 bedrooms 1.5 baths, wood floors throughout. Natural gas heat with radiators, central A/C installed as well. Ready for quick closing.

15. 2026-05-08
    status Active 236-char remark

    Show marketing remark (236 chars)

    Estate Sale! Sold "as is". 203K or rehab loan required. Great location and in good shape . 3 bedrooms 1.5 baths, wood floors throughout. Natural gas heat with radiators, central A/C installed as well. Ready for quick closing.

16. 2026-05-01
    historical 236-char remark

    Show marketing remark (236 chars)

    Estate Sale! Sold "as is". 203K or rehab loan required. Great location and in good shape . 3 bedrooms 1.5 baths, wood floors throughout. Natural gas heat with radiators, central A/C installed as well. Ready for quick closing.

17. 2026-03-31
    status Active 236-char remark

    Show marketing remark (236 chars)

    Estate Sale! Sold "as is". 203K or rehab loan required. Great location and in good shape . 3 bedrooms 1.5 baths, wood floors throughout. Natural gas heat with radiators, central A/C installed as well. Ready for quick closing.

18. 2026-03-26
    historical 236-char remark

    Show marketing remark (236 chars)

    Estate Sale! Sold "as is". 203K or rehab loan required. Great location and in good shape . 3 bedrooms 1.5 baths, wood floors throughout. Natural gas heat with radiators, central A/C installed as well. Ready for quick closing.

19. 2026-02-19
    price $200,000 236-char remark

    Show marketing remark (236 chars)

    Estate Sale! Sold "as is". 203K or rehab loan required. Great location and in good shape . 3 bedrooms 1.5 baths, wood floors throughout. Natural gas heat with radiators, central A/C installed as well. Ready for quick closing.

20. 2026-01-16
    listed $260,000 Active 236-char remark

    Show marketing remark (236 chars)

    Estate Sale! Sold "as is". 203K or rehab loan required. Great location and in good shape . 3 bedrooms 1.5 baths, wood floors throughout. Natural gas heat with radiators, central A/C installed as well. Ready for quick closing.

21. 2026-01-13
    historical $260,000 236-char remark

    Show marketing remark (236 chars)

    Estate Sale! Sold "as is". 203K or rehab loan required. Great location and in good shape . 3 bedrooms 1.5 baths, wood floors throughout. Natural gas heat with radiators, central A/C installed as well. Ready for quick closing.

ⓘ 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: $3,587 · $299/mo
• Projected year-2 tax: $3,587 · $299/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 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,906
• − Mortgage interest: −$10,643
• − Property taxes: −$3,587
• − Insurance: −$950
• − Repairs & maintenance: −$1,912
• − Management: −$1,912
• − Depreciation: −$5,527
• Taxable loss: −$626
• Est. tax savings @ 24.0%: +$150
• After-tax cash flow: $2,543/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): 44,014
• Household income: $62,488
• Rent vs Own: 51.9% rent · 48.1% own
• Severe rent burden: 2564.0

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 0.58)
• Race & ethnicity: Black 60% White 26% Two or more races 6% Hispanic / Latino 5% Asian 5%
• Common ancestry: Romanian 2% Italian 1% Scotch-Irish 1%
• Foreign-born: 10% · Canada, China, South Korea
• Languages at home: 87% English-only · Spanish 4% French/Haitian/Cajun 2% Chinese 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: ▼ -463.14%
• Current HPI: 292.3986
• Rent YoY: ▲ 1.63%
• 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

-26.9% since first listed

8 events — show timeline

• 2026-05-08 Price Changed $190,000 BRIGHT MLS
• 2026-05-08 Relisted — BRIGHT MLS
• 2026-05-01 Listing Removed — BRIGHT MLS
• 2026-03-31 Relisted — BRIGHT MLS
• 2026-03-26 Listing Removed — BRIGHT MLS
• 2026-02-19 Price Changed $200,000 BRIGHT MLS
• 2026-01-16 Listed $260,000 BRIGHT MLS
• 2026-01-13 Coming Soon $260,000 BRIGHT MLS

Property tax history

+1.0%/yr

Latest (2025): $3,587 · +6.4% YoY. Source: county tax records.