4806 Reisterstown Rd · Baltimore, MD 21215

$87,000

4 bd · 1.0 ba · 1,424 sqft · Townhouse public records · 27 Days on market

Built 1923

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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 +7.5/15.0
• Livability +3.8/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

AGENTS - PLEASE VIEW AGENT REMARKS IN BRIGHT MLS. Rare opportunity to acquire a diversified 5-property Baltimore portfolio featuring a mix of stabilized rental income and value-add potential. Assets span multiple Baltimore submarkets with proximity to hospitals, universities, transit, downtown employment centers and redevelopment corridors. Ideal for investors seeking immediate cash flow with long-term appreciation upside. Portfolio includes tenant-occupied units generating income and properties positioned for future rent growth. Package sale preferred. Package includes: 4806 Reisterstown Rd, Baltimore, MD 21215 / 1947 E 31st Street; Baltimore, MD 21218 / 110 S Catherine St, Baltimore, MD 2

Key facts

• Built 1923
• Listed 27 days

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; No septic system
• Home design: Interior townhouse/rowhouse; Fee simple ownership; Located in Baltimore City (in city limits)
• Construction: Brick construction; Brick/mortar foundation; Above-grade and below-grade structures
• Exterior features: No tidal water

Interior

• Bedrooms: Four bedrooms on the main level
• Bathrooms: Two full bathrooms (one on main level, one on lower level)
• Heating & cooling: Radiator heating; Central heating fuel; Hot water available via electric and natural gas
• Interior features: Partial basement; Living area measured from assessor

🏷️ Possibly a rental listed for sale. The $87,000 price doesn't fit this home's estimated sale value (~$213,600) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath townhouse listed at $87k.

Deal economics

• At list price, monthly cash flow is $952 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $87k).
• Recommended offer: $86k (1.5% below list) — sets the bar for market timing.
• Cap rate 19.4% 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 (+2.4%/yr); 351 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 47% 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).
• At $2,117/mo this rent would consume 49% of the median local household income ($52k/yr) (locally 3644% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $601 of loan paydown is wiped out by about $3k 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 + 2.4% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 20y 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 3.1% of price; built in 1923 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $85,695 (1.5% below list)

Questions for the listing agent

1. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 2.43% ✓
• Cap rate: 19.43%
• Cash-on-cash: 46.92%
• DSCR: 3.09
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $213,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3716 Beehler Ave	0.07mi	4/4.0	1,445 (+2%)	3mo	$265,000	$183	80
3223 Spaulding Ave	0.40mi	4/2.0	1,500 (+5%)	0mo	$219,900	$147	68
4912 Palmer Ave	0.46mi	3/2.0 (-1)	1,400 (-2%)	1mo	$60,000	$43	66
4911 Queensberry Ave	0.58mi	4/1.5	1,390 (-2%)	2mo	$155,000	$112	65
2523 Boarman Ave	0.68mi	3/1.0 (-1)	1,450 (+2%)	3mo	$82,500	$57	58
4027 Annellen Rd	0.72mi	4/2.0	1,452 (+2%)	3mo	$220,900	$152	57
4903 Chalgrove Ave	0.61mi	3/2.0 (-1)	1,536 (+8%)	2mo	$187,000	$122	48
3911 Bareva Rd	0.59mi	4/2.0	1,620 (+14%)	0mo	$112,100	$69	45
3951 Boarman Ave	0.61mi	4/2.5	1,588 (+12%)	2mo	$249,000	$157	45
5424 Jonquil Ave	0.72mi	4/3.5	1,332 (-6%)	2mo	$200,000	$150	44
4041 W Cold Spring Ln	0.70mi	3/2.5 (-1)	1,310 (-8%)	1mo	$239,900	$183	42
3916 Hayward Ave	0.56mi	3/2.5 (-1)	1,248 (-12%)	3mo	$237,375	$190	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 · 2.41% rent growth · sell at horizon

5-year hold

• IRR: 43.6%
• Equity multiple: 2.86×
• Total profit: $45,420
• Equity at exit: $12,972

10-year hold

• IRR: 49.3%
• Equity multiple: 5.64×
• Total profit: $113,023
• Equity at exit: $7,522

Cash invested: $24,360 (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 21215

• Rents YoY: 2.4%
• Active inventory: 351
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $2,117 high
• Mortgage (P&I): −$456
• Tax from tax record: −$228 /mo · $2,730/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$445
• Net cashflow: $952

Break-even live

Break-even rent $911

Max offer price $87,000

Occupancy floor 50%

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: $21,750
• Closing costs: $2,610
• Reserves months: —
• Total cash needed: —

Rent comps 17 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	0.22mi
4230 Towanda Ave Baltimore, MD	3.0	2.0	1400	$1,800	$1.29	18d	1	0.59mi
5306 Ethelbert Ave Baltimore, MD	5.0	2.5	1510	$3,000	$1.99	4d	1	0.64mi
5301 Maple Ave Baltimore, MD	3.0	1.0	960	$1,700	$1.77	43d	1	0.66mi
2915 Oakford Ave Baltimore, MD	3.0	2.0	1102	$1,600	$1.45	18d	1	0.67mi
4037 Cedardale Rd Baltimore, MD	5.0	3.0	1500	$2,800	$1.87	15d	1	0.68mi
5115 Pembridge Ave Baltimore, MD	3.0	2.0	1088	$2,150	$1.98	43d	1	0.69mi
2619 Loyola Northway Baltimore, MD	3.0	2.0	1400	$1,995	$1.43	24d	1	0.75mi
2454 W Cold Spring Ln Baltimore, MD	3.0	1.0	1200	$1,650	$1.38	24d	1	0.81mi
2415 Loyola Southway Baltimore, MD	3.0	1.5	1200	$2,033	$1.69	43d	1	0.97mi
2530 Edgecombe Cir N Baltimore, MD	2.0–3.0	1.0	920	$1,325	$1.44	2d	4	0.98mi
3912 Mortimer Ave Baltimore, MD	3.0	2.0	1204	$2,723	$2.26	43d	1	1.00mi
3204 Sequoia Ave Baltimore, MD	4.0	2.5	1791	$2,600	$1.45	43d	1	1.03mi
3822 Pall Mall Rd Baltimore, MD	3.0	1.5	1320	$1,875	$1.42	43d	1	1.07mi
3727 Milford Ave Gwynn Oak, MD	3.0	1.0	900	$1,450	$1.61	43d	1	1.25mi
3601 Howard Park Ave Unit 2 Baltimore, MD	3.0	1.0	1000	$1,650	$1.65	43d	1	1.33mi
2001 W Cold Spring Ln Baltimore, MD	1.0–3.0	1.0–2.0	1154	$3,505	$3.04	1d	31	1.42mi

Listing history 46 events

1. 2026-06-18
   days on market $87,000 Active 27 DOM
2. 2026-06-17
   days on market $87,000 Active 26 DOM
3. 2026-06-16
   days on market $87,000 Active 25 DOM
4. 2026-06-15
   days on market $87,000 Active 24 DOM
5. 2026-06-13
   days on market $87,000 Active 22 DOM
6. 2026-06-09
   days on market $87,000 Active 18 DOM
7. 2026-06-08
   days on market $87,000 Active 17 DOM
8. 2026-06-07
   days on market $87,000 Active 16 DOM
9. 2026-06-04
   days on market $87,000 Active 13 DOM
10. 2026-06-03
    days on market $87,000 Active 12 DOM
11. 2026-06-02
    days on market $87,000 Active 11 DOM
12. 2026-06-01
    days on market $87,000 Active 10 DOM
13. 2026-05-31
    days on market $87,000 Active 9 DOM
14. 2026-05-22
    listed $87,000 Active
15. 2025-06-14
    historical
16. 2025-05-28
    listed $175,000 Active
17. 2025-05-23
    historical
18. 2024-05-30
    historical $1,499
19. 2024-05-15
    listed $1,499
20. 2024-02-09
    historical
21. 2023-11-03
    listed $145,000 Active
22. 2023-10-21
    historical
23. 2023-10-17
    status Active
24. 2023-10-07
    historical Active Under Contract
25. 2023-09-02
    price $150,000
26. 2023-08-30
    listed $135,000 Active
27. 2023-08-26
    historical
28. 2016-09-30
    historical Withdrawn
29. 2016-09-30
    historical
30. 2016-08-19
    listed Active
31. 2016-08-19
    listed $65,000
32. 2014-10-09
    historical
33. 2014-10-09
    historical
34. 2014-07-09
    listed Active
35. 2014-07-09
    listed $65,000
36. 2008-07-01
    historical
37. 2008-05-02
    price
38. 2008-05-02
    price
39. 2008-04-24
    price
40. 2008-03-29
    status
41. 2008-03-27
    historical
42. 2008-03-27
    listed
43. 2007-07-17
    historical
44. 2007-04-01
    listed
45. 2007-02-01
    historical
46. 2006-11-25
    listed

ⓘ 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: $2,730 · $228/mo
• Projected year-2 tax: $2,730 · $228/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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% 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: $25,404
• − Mortgage interest: −$4,873
• − Property taxes: −$2,730
• − Insurance: −$435
• − Repairs & maintenance: −$2,032
• − Management: −$2,032
• − Depreciation: −$2,531
• Taxable income: $10,770
• Est. tax owed @ 24.0%: −$2,585
• After-tax cash flow: $8,845/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): 52,229
• Household income: $51,587
• Rent vs Own: 45.2% rent · 54.8% own
• Severe rent burden: 3644.0

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 17% Hispanic / Latino 5% Two or more races 4% Asian 1%
• Common ancestry: Scotch-Irish 2% Romanian 2% Italian 1%
• Foreign-born: 9% · Canada, South Korea
• Languages at home: 91% English-only · Spanish 4% French/Haitian/Cajun 1% 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: ▼ -318.58%
• Current HPI: 291.4926
• Rent YoY: ▲ 2.41%
• 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

+33.8% since first listed

33 events — show timeline

• 2026-05-22 Listed $87,000 BRIGHT MLS
• 2025-06-14 Listing Removed — BRIGHT MLS
• 2025-05-28 Listed $175,000 BRIGHT MLS
• 2025-05-23 Coming Soon — BRIGHT MLS
• 2024-05-30 Rental Removed $1,499 RENT.
• 2024-05-15 Listed for Rent $1,499 RENT.
• 2024-02-09 Listing Removed — BRIGHT MLS
• 2023-11-03 Listed $145,000 BRIGHT MLS
• 2023-10-21 Listing Removed — BRIGHT MLS
• 2023-10-17 Relisted — BRIGHT MLS
• 2023-10-07 Contingent — BRIGHT MLS
• 2023-09-02 Price Changed $150,000 BRIGHT MLS
• 2023-08-30 Listed $135,000 BRIGHT MLS
• 2023-08-26 Coming Soon — BRIGHT MLS
• 2016-09-30 Listing Removed — BRIGHT MLS
• 2016-09-30 Delisted — MRIS
• 2016-08-19 Listed — MRIS
• 2016-08-19 Listed $65,000 BRIGHT MLS
• 2014-10-09 Delisted — MRIS
• 2014-10-09 Listing Removed — BRIGHT MLS
• 2014-07-09 Listed — MRIS
• 2014-07-09 Listed $65,000 BRIGHT MLS
• 2008-07-01 Delisted — MRIS
• 2008-05-02 Price Changed — MRIS
• 2008-05-02 Price Changed — MRIS
• 2008-04-24 Price Changed — MRIS
• 2008-03-29 Relisted — MRIS
• 2008-03-27 Delisted — MRIS
• 2008-03-27 Listed — MRIS
• 2007-07-17 Delisted — MRIS
• 2007-04-01 Listed — MRIS
• 2007-02-01 Delisted — MRIS
• 2006-11-25 Listed — MRIS

Property tax history

+3.7%/yr

Latest (2025): $2,730 · +14.6% YoY. Source: county tax records.