3424 W Belvedere Ave · Baltimore, MD 21215

$54,900

3 bd · 1.0 ba · 1,120 sqft · Townhouse · 148 Days on market

Built 1950 1,483 sqft lot $49/sqft · 65% below area

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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 MLS

Interior porch front townhome located in the Arlington neighborhood. This property offers a living room, dining room and kitchen on the main level. Upper level features 3 bedrooms and 1 full bathroom. The lower level is partially finished and separate laundry area. There is a covered rear porch and fully fenced rear yard.

Key facts

• Interior porch
• Covered rear porch
• Built 1950

Tags

• INTERIOR PORCH
• COVERED REAR PORCH
• FULLY FENCED REAR YARD
• SEPARATE LAUNDRY AREA

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $55k.

Deal economics

• At list price, monthly cash flow is $837 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• Cap rate 24.6% 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; 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 ($52k/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 $380 of loan paydown is wiped out by about $2k 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 $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 148 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 29y ago; this cycle's ask has dropped $26k (32%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $42k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $48,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 148 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 1950 — 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: 2.88% ✓
• Cap rate: 24.59%
• Cash-on-cash: 65.35%
• DSCR: 3.91
• GRM: 2.9

CMA / ARV

• ARV (median comp): $158,461
• List price: $54,900
• Delta: -65.35%
• 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
5329 Cordelia Ave	0.26mi	3/1.0	1,080 (-4%)	1mo	$105,000	$97	81
4927 Edgemere Ave	0.31mi	2/1.0 (-1)	1,080 (-4%)	3mo	$95,000	$88	73
5422 Price Ave	0.46mi	3/1.5	1,080 (-4%)	2mo	$140,000	$130	69
3824 Beehler Ave	0.48mi	3/1.5	1,080 (-4%)	3mo	$88,000	$81	67
3800 Hayward Ave	0.24mi	3/2.0	1,224 (+9%)	6mo	$80,000	$65	64
5010 Chalgrove Ave	0.46mi	2/1.0 (-1)	1,190 (+6%)	5mo	$72,500	$61	59
3916 Hayward Ave	0.30mi	3/2.5	1,248 (+11%)	3mo	$237,375	$190	58
3709 Columbus Dr	0.69mi	3/1.5	1,200 (+7%)	0mo	$133,900	$112	54
3918 Dolfield Ave	0.54mi	3/1.5	1,216 (+9%)	5mo	$200,000	$164	54
3701 Columbus Dr	0.71mi	3/1.0	1,200 (+7%)	4mo	$108,000	$90	52
5533 Nome Ave	0.73mi	2/2.0 (-1)	1,085 (-3%)	2mo	$110,500	$102	50
3716 Columbus Dr	0.66mi	4/2.0 (+1)	1,200 (+7%)	3mo	$242,000	$202	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 · 2.41% rent growth · sell at horizon

5-year hold

• IRR: 63.9%
• Equity multiple: 3.83×
• Total profit: $43,532
• Equity at exit: $8,186

10-year hold

• IRR: 68.1%
• Equity multiple: 7.70×
• Total profit: $102,957
• Equity at exit: $4,747

Cash invested: $15,372 (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 21215

• Rents YoY: 2.4%
• Active inventory: 351
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,579 high
• Mortgage (P&I): −$288
• Tax from tax record: −$100 /mo · $1,199/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $837

Break-even live

Break-even rent $520

Max offer price $54,900

Occupancy floor 42%

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: $13,725
• Closing costs: $1,647
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5000 Litchfield Ave #1 Baltimore, MD	2.0	1.0	1100	$1,100	$1.00	44d	1	0.16mi
4828 Beaufort Ave Baltimore, MD	2.0	2.5	1200	$1,850	$1.54	24d	1	0.29mi
5301 Maple Ave Baltimore, MD	3.0	1.0	960	$1,700	$1.77	44d	1	0.32mi
5340 Maple Ave Baltimore, MD	2.0	1.0	1200	$1,950	$1.62	44d	1	0.34mi
5343 Nelson Ave Baltimore, MD	2.0	1.0	1000	$1,215	$1.22	24d	1	0.34mi
3735 Manchester Ave Baltimore, MD	2.0	1.0	1000	$1,350	$1.35	4d	1	0.35mi
3016 Thorndale Ave Baltimore, MD	1.0–3.0	1.0	700	$1,200	$1.71	4d	14	0.46mi
3908 Groveland Ave Apt F Baltimore, MD	2.0	1.0	815	$1,695	$2.08	44d	1	0.52mi
3784 Columbus Dr Baltimore, MD	4.0	2.0	1250	$2,200	$1.76	24d	1	0.53mi
5115 Pembridge Ave Baltimore, MD	3.0	2.0	1088	$2,150	$1.98	44d	1	0.54mi
3904 Penhurst Ave Baltimore, MD	2.0	1.0	760	$1,175	$1.55	44d	1	0.57mi
3912 Mortimer Ave Baltimore, MD	3.0	2.0	1204	$2,723	$2.26	44d	1	0.68mi
4010 Fernhill Ave Unit 2 Baltimore, MD	2.0	1.0	1100	$1,500	$1.36	44d	1	0.74mi
4910 Poe Ave Unit 2 Baltimore, MD	2.0	1.0	750	$990	$1.32	24d	1	0.86mi
2915 Oakford Ave Baltimore, MD	3.0	2.0	1102	$1,600	$1.45	18d	1	0.92mi
4936 Lanier Ave Baltimore, MD	1.0–2.0	1.0	750	$1,370	$1.83	3d	5	0.93mi
4230 Towanda Ave Baltimore, MD	3.0	2.0	1400	$1,800	$1.29	18d	1	0.95mi
2824 Edgecombe Cir S Baltimore, MD	2.0	2.0	950	$1,475	$1.55	22d	1	0.95mi
5902 Cross Country Blvd Baltimore, MD	2.0	2.0	720	$1,575	$2.19	24d	1	0.98mi
5902 Cross Country Blvd Baltimore, MD	1.0–2.0	1.0–2.0	785	$1,699	$2.16	4d	6	0.98mi
2432 Everton Rd Unit 2435 A Baltimore, MD	2.0	1.5	1000	$1,500	$1.50	24d	1	0.99mi
4714 Greenspring Ave Baltimore, MD	2.0	1.0	890	$1,295	$1.46	44d	1	1.03mi
2619 Loyola Northway Baltimore, MD	3.0	2.0	1400	$1,995	$1.43	24d	1	1.04mi
2454 W Cold Spring Ln Baltimore, MD	3.0	1.0	1200	$1,650	$1.38	24d	1	1.06mi
3701 Garrison Blvd Unit 3 Baltimore, MD	2.0	1.0	820	$1,399	$1.71	24d	1	1.14mi
4037 Edgewood Rd Unit 1 Baltimore, MD	2.0	1.0	726	$1,100	$1.52	44d	1	1.15mi
2530 Edgecombe Cir N Baltimore, MD	2.0–3.0	1.0	920	$1,325	$1.44	2d	4	1.18mi
2900 Taney Rd Apt 1A Baltimore, MD	2.0	2.0	1200	$1,600	$1.33	24d	1	1.18mi
4008 Hilton Rd Unit 1st Fl Baltimore, MD	2.0	1.0	750	$1,295	$1.73	44d	1	1.21mi
3600 Garrison Blvd Unit T2 Baltimore, MD	2.0	1.0	750	$1,149	$1.53	24d	1	1.22mi
3600 Garrison Blvd Apt T1 Baltimore, MD	2.0	1.0	800	$1,125	$1.41	3d	1	1.22mi
5801 Western Run Dr Baltimore, MD	3.0	1.0–2.0	835	$1,979	$2.37	2d	7	1.23mi
2310 Sulgrave Ave Unit 3 Baltimore, MD	2.0	1.0	978	$1,700	$1.74	44d	1	1.24mi
4016 N Rogers Ave Baltimore, MD	2.0	1.0	717	$1,195	$1.67	44d	1	1.26mi
2415 Loyola Southway Baltimore, MD	3.0	1.5	1200	$2,033	$1.69	44d	1	1.26mi
4008 Fordleigh Rd Baltimore, MD	1.0–2.0	1.0	695	$1,305	$1.88	4d	6	1.26mi
3617 Mohawk Ave Baltimore, MD	2.0	1.0	1000	$1,595	$1.59	44d	1	1.26mi
3615 Mohawk Ave Gwynn Oak, MD	2.0	1.0	1000	$1,610	$1.61	44d	1	1.26mi
3727 Milford Ave Gwynn Oak, MD	3.0	1.0	900	$1,450	$1.61	44d	1	1.29mi
3508 Grantley Rd Baltimore, MD	2.0	1.0	1250	$1,350	$1.08	24d	1	1.30mi

Listing history 19 events

1. 2026-06-10
   status $54,900 Pending 148 DOM
2. 2026-06-09
   days on market $54,900 Active 148 DOM
3. 2026-06-08
   days on market $54,900 Active 147 DOM
4. 2026-06-07
   days on market $54,900 Active 146 DOM
5. 2026-06-04
   days on market $54,900 Active 143 DOM
6. 2026-06-03
   days on market $54,900 Active 142 DOM
7. 2026-06-02
   days on market $54,900 Active 141 DOM
8. 2026-06-02
   status $54,900 Active 140 DOM
9. 2026-05-04
   status Pending 323-char remark

   Show marketing remark (323 chars)

   Interior porch front townhome located in the Arlington neighborhood. This property offers a living room, dining room and kitchen on the main level. Upper level features 3 bedrooms and 1 full bathroom. The lower level is partially finished and separate laundry area. There is a covered rear porch and fully fenced rear yard.

10. 2026-04-02
    price $54,900 323-char remark

    Show marketing remark (323 chars)

    Interior porch front townhome located in the Arlington neighborhood. This property offers a living room, dining room and kitchen on the main level. Upper level features 3 bedrooms and 1 full bathroom. The lower level is partially finished and separate laundry area. There is a covered rear porch and fully fenced rear yard.

11. 2026-02-12
    price $66,900 323-char remark

    Show marketing remark (323 chars)

    Interior porch front townhome located in the Arlington neighborhood. This property offers a living room, dining room and kitchen on the main level. Upper level features 3 bedrooms and 1 full bathroom. The lower level is partially finished and separate laundry area. There is a covered rear porch and fully fenced rear yard.

12. 2026-01-28
    price $72,900 323-char remark

    Show marketing remark (323 chars)

    Interior porch front townhome located in the Arlington neighborhood. This property offers a living room, dining room and kitchen on the main level. Upper level features 3 bedrooms and 1 full bathroom. The lower level is partially finished and separate laundry area. There is a covered rear porch and fully fenced rear yard.

13. 2025-12-15
    listed $80,900 Active 323-char remark

    Show marketing remark (323 chars)

    Interior porch front townhome located in the Arlington neighborhood. This property offers a living room, dining room and kitchen on the main level. Upper level features 3 bedrooms and 1 full bathroom. The lower level is partially finished and separate laundry area. There is a covered rear porch and fully fenced rear yard.

14. 2025-12-15
    historical

    Show marketing remark (323 chars)

    Interior porch front townhome located in the Arlington neighborhood. This property offers a living room, dining room and kitchen on the main level. Upper level features 3 bedrooms and 1 full bathroom. The lower level is partially finished and separate laundry area. There is a covered rear porch and fully fenced rear yard.

15. 2025-11-25
    listed $74,900 Active
16. 1998-01-12
    soldstatus $42,000
17. 1997-11-17
    soldstatus $42,000
18. 1997-10-14
    historical
19. 1997-05-01
    listed $39,900

ⓘ 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: $1,199 · $100/mo
• Projected year-2 tax: $1,199 · $100/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 6/10 Major 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: $18,954
• − Mortgage interest: −$3,075
• − Property taxes: −$1,199
• − Insurance: −$274
• − Repairs & maintenance: −$1,516
• − Management: −$1,516
• − Depreciation: −$1,597
• Taxable income: $9,776
• Est. tax owed @ 24.0%: −$2,346
• After-tax cash flow: $7,699/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

+37.6% since first listed

11 events — show timeline

• 2026-05-04 Pending — BRIGHT MLS
• 2026-04-02 Price Changed $54,900 BRIGHT MLS
• 2026-02-12 Price Changed $66,900 BRIGHT MLS
• 2026-01-28 Price Changed $72,900 BRIGHT MLS
• 2025-12-15 Listing Removed — BRIGHT MLS
• 2025-12-15 Listed $80,900 BRIGHT MLS
• 2025-11-25 Listed $74,900 BRIGHT MLS
• 1998-01-12 Sold (Public Records) $42,000 Public Records
• 1997-11-17 Sold (MLS) $42,000 MRIS
• 1997-10-14 Delisted — MRIS
• 1997-05-01 Listed $39,900 MRIS

Property tax history

+2.7%/yr

Latest (2025): $1,199 · +230.5% YoY. Source: county tax records.