4303 Greenhill Ave · Baltimore, MD 21206

$184,900

3 bd · 1.5 ba · 1,420 sqft · Townhouse public records · 1 Days on market

Built 1955 1,742 sqft lot Est $173k · 7% over

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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 +20.0/30.0
• DSCR +6.3/10.0
• 1% rule +5.5/10.0
• ARV discount +4.5/15.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home! Make this one yours today. Located on a quiet street, there is plenty of room for equity and perfect for someone who is creative or a first time buyer. Get it while it lasts! Motivated seller!

Key facts

• Built 1955

Property features AI

Exterior

• Parking: On-street parking available; Off-street parking available
• Utilities: Public water; Public sewer; Electric cooling fuel; Natural gas heating and hot water
• Home design: Interior townhouse/rowhouse; Estimated year built
• Construction: Brick construction; Slab foundation
• Exterior features: Above-grade and below-grade structures; Ground rent paid annually; Tidal water: none

Interior

• Bedrooms: Two bedrooms on the upper level; One bedroom on the lower level
• Bathrooms: One full bathroom (upper level); One half bathroom (lower level)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning (electric)
• Interior features: Fully finished basement with outside entrance; Not in a federal flood zone; Fee simple ownership
• Laundry & utility: Washer in unit; Dryer in unit; Hot water provided by natural gas

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $185k.

Deal economics

• At list price, monthly cash flow is $226 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Cap rate 7.8% 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 fast (+4.4%/yr); 173 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 36% of the median local income ($65k/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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 26y ago; this cycle's ask is 6% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $160k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1955 — 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 $184,900

Questions for the listing agent

1. Built in 1955 — 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: 1.05% ✓
• Cap rate: 7.76%
• Cash-on-cash: 5.23%
• DSCR: 1.23
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $173,240
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3406 Ramona Ave	0.25mi	3/2.0	1,408 (-1%)	0mo	$85,000	$60	84
4718 Parkside Dr	0.19mi	2/2.0 (-1)	1,440 (+1%)	0mo	$214,990	$149	81
3571 Dudley Ave	0.35mi	3/2.0	1,400 (-1%)	1mo	$175,000	$125	79
4629 Chatford Ave	0.11mi	4/1.5 (+1)	1,272 (-10%)	2mo	$170,000	$134	71
4927 Sinclair Ln	0.55mi	3/2.0	1,440 (+1%)	2mo	$230,000	$160	69
4323 Sheldon Ave	0.26mi	3/2.0	1,280 (-10%)	2mo	$245,000	$191	68
4735 Homesdale Ave	0.32mi	3/1.5	1,280 (-10%)	2mo	$120,000	$94	67
4235 Seidel Ave	0.33mi	3/1.5	1,280 (-10%)	2mo	$91,000	$71	66
4215 Seidel Ave	0.38mi	3/2.0	1,528 (+8%)	2mo	$186,500	$122	66
4114 Moravia Rd	0.58mi	3/1.0	1,390 (-2%)	2mo	$169,990	$122	66
3733 Ravenwood Ave	0.73mi	3/2.0	1,350 (-5%)	1mo	$135,000	$100	55
3914 Eierman Ave	0.58mi	3/2.0	1,628 (+15%)	0mo	$128,000	$79	46

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 · 4.43% rent growth · sell at horizon

5-year hold

• IRR: -6.5%
• Equity multiple: 0.75×
• Total profit: $-12,698
• Equity at exit: $27,569

10-year hold

• IRR: 4.8%
• Equity multiple: 1.38×
• Total profit: $19,653
• Equity at exit: $15,987

Cash invested: $51,772 (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 21206

• Rents YoY: 4.4%
• Active inventory: 173
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,946 high
• Mortgage (P&I): −$970
• Tax from tax record: −$265 /mo · $3,182/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $226

Break-even live

Break-even rent $1,661

Max offer price $184,900

Occupancy floor 83%

Sensitivity live

Price	-10% $330	-5% $278	+0% $226	+5% $173	+10% $121
Rent	-10% $72	-5% $149	+0% $226	+5% $303	+10% $379
Rate	-1.0pp $319	-0.5pp $273	base $226	+0.5pp $178	+1.0pp $129

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4409 Moravia Rd Baltimore, MD	2.0	1.0	861	$1,385	$1.61	44d	3	0.22mi
4320 Sheldon Ave Baltimore, MD	3.0	1.5	1280	$1,800	$1.41	24d	1	0.24mi
3551 Shannon Dr Baltimore, MD	3.0	2.0	1485	$2,358	$1.59	24d	1	0.27mi
3573 Shannon Dr Baltimore, MD	4.0	2.0	1493	$2,300	$1.54	18d	1	0.31mi
3566 Dudley Ave Baltimore, MD	2.0	1.0	896	$1,800	$2.01	24d	1	0.33mi
3300 Dudley Ave Baltimore, MD	4.0	2.0	1724	$2,200	$1.28	44d	1	0.33mi
4400 Asbury Ave Baltimore, MD	3.0	2.0	1270	$1,995	$1.57	5d	1	0.34mi
3305 Dudley Ave Baltimore, MD	3.0	2.0	1413	$1,950	$1.38	44d	1	0.35mi
3544 Chesterfield Ave Baltimore, MD	3.0	1.5	1200	$1,635	$1.36	44d	1	0.43mi
4901 Gunther Ave Baltimore, MD	1.0–3.0	1.0–2.0	742	$1,463	$1.97	3d	1	0.46mi
3028 Kenyon Ave Baltimore, MD	2.0	2.0	1075	$1,395	$1.30	44d	1	0.48mi
4022 Ardley Ave Baltimore, MD	2.0	1.0	896	$1,750	$1.95	44d	1	0.50mi
4024 Eierman Ave Baltimore, MD	3.0	2.0	1136	$1,825	$1.61	44d	1	0.51mi
4517 Woodlea Ave Baltimore, MD	2.0	2.0	1326	$1,900	$1.43	3d	1	0.51mi
3572 Juneway Unit 1 Baltimore, MD	2.0	1.0	1800	$1,200	$0.67	44d	1	0.53mi
4718 Blue Ridge Ave Baltimore, MD	4.0	3.0	1744	$2,400	$1.38	12d	1	0.54mi
4116 Raymonn Ave Baltimore, MD	3.0	1.5	1244	$1,950	$1.57	44d	1	0.56mi
5305 Moravia Rd Baltimore, MD	3.0	1.0	679	$1,993	$2.93	3d	1	0.56mi
3519 Kentucky Ave Baltimore, MD	3.0	2.0	1536	$2,100	$1.37	11d	1	0.60mi
3525 Kentucky Ave Baltimore, MD	3.0	1.5	1536	$1,950	$1.27	44d	1	0.60mi
2848 Pelham Ave Baltimore, MD	3.0	2.0	1164	$1,700	$1.46	44d	1	0.65mi
2837 Pelham Ave Baltimore, MD	4.0	2.0	1164	$1,675	$1.44	44d	1	0.67mi
2817 Pelham Ave Baltimore, MD	3.0	2.0	1464	$1,950	$1.33	24d	1	0.70mi
2735 Chesterfield Ave Baltimore, MD	3.0	2.5	1536	$2,000	$1.30	11d	1	0.74mi
3610 Elmley Ave Baltimore, MD	2.0	1.5	1200	$1,550	$1.29	21d	1	0.74mi
5731 Denwood Ave Baltimore, MD	3.0	1.5	1440	$1,700	$1.18	24d	1	0.76mi
5731 Denwood Ave Baltimore, MD	3.0	1.5	1152	$1,700	$1.48	22d	1	0.76mi
2828 Lake Ave Baltimore, MD	3.0	2.0	1164	$1,850	$1.59	5d	1	0.77mi
4104 Parkwood Ave Baltimore, MD	3.0	1.0	1224	$2,800	$2.29	24d	1	0.79mi
3515 Parklawn Ave Baltimore, MD	3.0	2.0	1240	$1,700	$1.37	3d	1	0.80mi
3436 Cardenas Ave Baltimore, MD	2.0	1.0	1146	$1,395	$1.22	44d	1	0.81mi
3603 Ravenwood Ave Unit 1 Baltimore, MD	4.0	1.0	1566	$1,600	$1.02	44d	1	0.83mi
3551 Elmley Ave Baltimore, MD	3.0	1.5	1872	$2,095	$1.12	24d	1	0.83mi
3902 Erdman Ave Unit 1 Baltimore, MD	2.0	1.0	1000	$1,275	$1.27	24d	1	0.85mi
4300 Orchard Ridge Blvd Baltimore, MD	1.0–3.0	1.0–2.0	1021	$1,809	$1.77	44d	1	0.85mi
3914 Erdman Ave #1 Baltimore, MD	3.0	1.0	1200	$1,319	$1.10	18d	1	0.86mi
4023 Belwood Ave Baltimore, MD	3.0	1.0	1080	$1,995	$1.85	44d	1	0.87mi
4104 Erdman Ave Unit 2 Baltimore, MD	2.0	1.0	1566	$1,075	$0.69	5d	1	0.89mi
4007 Biddison Ln Apt 1 Baltimore, MD	2.0	1.0	1000	$1,279	$1.28	18d	1	0.92mi
3512 Elmora Ave Baltimore, MD	3.0	1.5	1472	$1,900	$1.29	21d	1	0.93mi

Listing history 13 events

1. 2026-06-18
   statusdays on market $184,900 Active 1 DOM
2. 2026-06-17
   days on market $184,900 Coming Soon 17 DOM
3. 2026-06-16
   days on market $184,900 Coming Soon 16 DOM
4. 2026-06-15
   days on market $184,900 Coming Soon 15 DOM
5. 2026-06-13
   days on market $184,900 Coming Soon 13 DOM
6. 2026-06-09
   days on market $184,900 Coming Soon 9 DOM
7. 2026-06-08
   days on market $184,900 Coming Soon 8 DOM
8. 2026-06-07
   days on market $184,900 Coming Soon 7 DOM
9. 2026-06-04
   days on market $184,900 Coming Soon 4 DOM
10. 2026-06-03
    days on market $184,900 Coming Soon 3 DOM
11. 2026-06-02
    days on market $184,900 Coming Soon 2 DOM
12. 2026-06-01
    remarks 699-char remark
13. 2026-06-01
    listed $184,900 Coming Soon 1 DOM

ⓘ 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: $3,182 · $265/mo
• Projected year-2 tax: $3,182 · $265/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 8/10 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: $23,354
• − Mortgage interest: −$10,357
• − Property taxes: −$3,182
• − Insurance: −$924
• − Repairs & maintenance: −$1,868
• − Management: −$1,868
• − Depreciation: −$5,379
• Taxable loss: −$225
• Est. tax savings @ 24.0%: +$54
• After-tax cash flow: $2,762/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): 48,902
• Household income: $64,531
• Rent vs Own: 46.8% rent · 53.2% own
• Severe rent burden: 2317.0

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 20% Two or more races 3% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 3% Ukrainian 1%
• Foreign-born: 8% · Canada
• Languages at home: 92% English-only · Spanish 2% Arabic 2% 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: ▼ -191.83%
• Current HPI: 284.5645
• Rent YoY: ▲ 4.43%
• 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

+311.8% since first listed

24 events — show timeline

• 2026-06-01 Coming Soon $184,900 BRIGHT MLS
• 2023-01-31 Sold (Public Records) $160,000 Public Records
• 2022-12-27 Sold (MLS) $160,000 BRIGHT MLS
• 2022-11-05 Contingent — BRIGHT MLS
• 2022-10-25 Price Changed $165,000 BRIGHT MLS
• 2022-10-12 Price Changed $169,900 BRIGHT MLS
• 2022-10-06 Relisted — BRIGHT MLS
• 2022-10-01 Pending — BRIGHT MLS
• 2022-09-22 Listed $175,000 BRIGHT MLS
• 2022-09-20 Coming Soon $175,000 BRIGHT MLS
• 2013-08-13 Sold (Public Records) $45,000 Public Records
• 2013-07-29 Delisted — MRIS
• 2013-07-26 Sold (MLS) $45,000 BRIGHT MLS
• 2013-07-26 Sold (MLS) $45,000 MRIS
• 2013-01-15 Pending — MRIS
• 2013-01-15 Listing Removed — BRIGHT MLS
• 2012-11-28 Price Changed $49,999 MRIS
• 2012-11-06 Listed $60,000 MRIS
• 2012-11-06 Listed $49,999 BRIGHT MLS
• 2000-06-05 Sold (Public Records) $61,000 Public Records
• 2000-05-30 Sold (MLS) $61,000 MRIS
• 2000-04-05 Delisted — MRIS
• 2000-01-05 Listed $61,000 MRIS
• 1987-11-20 Sold (Public Records) $44,900 Public Records

Property tax history

+0.8%/yr

Latest (2025): $3,182 · +7.9% YoY. Source: county tax records.