3926 Ridgewood Ave · Baltimore, MD 21215

$101,400

6 bd · 1.0 ba · 1,566 sqft · Townhouse public records · 31 Days on market

Built 1932 1,824 sqft lot Est $186k · 46% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

This is a Short Sale. Excellent investment opportunity in Northwest Baltimore! This spacious property offers strong upside for investors, flippers, or buyers seeking a buy-and-hold opportunity with flexible exit strategies. The home features generous room sizes, multiple living areas, and a versatile layout ideal for renovation and repositioning. Previously under contract, but the prior buyer was unable to perform, creating a fresh opportunity for a motivated purchaser. With the right vision and improvements, this property has the potential to become a profitable resale or strong rental asset. Conveniently located near major commuter routes, public transportation, and neighborhood amenities

Key facts

• Versatile layout
• Conveniently located
• Built 1932

Tags

• INVESTMENT OPPORTUNITY
• MULTIPLE LIVING AREAS
• VERSATILE LAYOUT
• CONVENIENTLY LOCATED

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Hot water: natural gas; Heating fuel: natural gas; Cooling fuel: electric
• Home design: End of row/townhouse; Above-grade finished area 1,566 (source: assessor); Below-grade unfinished area 768 (source: assessor)
• Construction: Brick construction; Foundation: other; Bay/Bow windows; Roof: unknown
• Exterior features: Not located in a federal flood zone; Tidal water: No; Other above- and below-grade structures

Interior

• Bedrooms: Four bedrooms on the first upper level; Two bedrooms on the second upper level; Total rooms: 8
• Flooring: Wood floors
• Bathrooms: Two full bathrooms (one on first upper level, one on first lower level)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning (electric)
• Interior features: Dining area; Wood floors; Basement present (other type)
• Laundry & utility: Laundry in the basement

What this means for you Summary

Snapshot

• This is a 6-bed/1.0-bath townhouse listed at $101k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $101k).
• Recommended offer: $98k (3.0% below list) — sets the bar for market timing.
• Cap rate 20.2% 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: 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.
• Zoned schools: Forest Park High (math 2% / reading 8%, grade F, #208 of 222 statewide, top 97%, 826 students, 72% FRL).
• Market conditions: Rents rising (+2.4%/yr); 354 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• At $2,550/mo this rent would consume 59% 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 $701 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 $28k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 25y 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 1932 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 23% 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 $98,358 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 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 1932 — 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: 2.51% ✓
• Cap rate: 20.20%
• Cash-on-cash: 49.67%
• DSCR: 3.21
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $186,354
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4011 Oakford Ave	0.13mi	5/3.0 (-1)	1,504 (-4%)	7mo	$304,000	$202	69
3820 Dolfield Ave	0.29mi	5/3.0 (-1)	1,576 (+1%)	7mo	$187,000	$119	67
3813 Belle Ave	0.33mi	5/2.0 (-1)	1,616 (+3%)	19mo	$137,800	$85	55

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: 46.7%
• Equity multiple: 3.01×
• Total profit: $57,031
• Equity at exit: $15,119

10-year hold

• IRR: 52.2%
• Equity multiple: 5.95×
• Total profit: $140,435
• Equity at exit: $8,767

Cash invested: $28,392 (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: 354
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $2,550 medium
• Mortgage (P&I): −$532
• Tax from tax record: −$265 /mo · $3,180/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$535
• Net cashflow: $1,175

Break-even live

Break-even rent $1,062

Max offer price $101,400

Occupancy floor 49%

Sensitivity live

Price	-10% $1,233	-5% $1,204	+0% $1,175	+5% $1,146	+10% $1,118
Rent	-10% $974	-5% $1,074	+0% $1,175	+5% $1,276	+10% $1,377
Rate	-1.0pp $1,226	-0.5pp $1,201	base $1,175	+0.5pp $1,149	+1.0pp $1,122

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: $25,350
• Closing costs: $3,042
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4037 Cedardale Rd Baltimore, MD	5.0	3.0	1500	$2,800	$1.87	16d	1	0.84mi
5306 Ethelbert Ave Baltimore, MD	5.0	2.5	1510	$3,000	$1.99	5d	1	1.01mi

Listing history 50 events

1. 2026-06-21
   days on market $101,400 Active 31 DOM
2. 2026-06-18
   days on market $101,400 Active 28 DOM
3. 2026-06-17
   days on market $101,400 Active 27 DOM
4. 2026-06-16
   days on market $101,400 Active 26 DOM
5. 2026-06-15
   days on market $101,400 Active 25 DOM
6. 2026-06-13
   days on market $101,400 Active 23 DOM
7. 2026-06-09
   days on market $101,400 Active 19 DOM
8. 2026-06-08
   days on market $101,400 Active 18 DOM
9. 2026-06-07
   days on market $101,400 Active 17 DOM
10. 2026-06-04
    days on market $101,400 Active 14 DOM
11. 2026-06-03
    days on market $101,400 Active 13 DOM
12. 2026-06-02
    days on market $101,400 Active 12 DOM
13. 2026-06-02
    price $101,400 Active 11 DOM
14. 2026-06-01
    days on market $89,000 Active 11 DOM
15. 2026-05-31
    days on market $89,000 Active 10 DOM
16. 2026-04-14
    historical Active Under Contract
17. 2026-04-09
    status Pending
18. 2026-04-01
    listed $105,000 Active
19. 2026-04-01
    historical
20. 2026-03-29
    status Active
21. 2026-02-12
    historical
22. 2026-01-29
    listed $105,000 Active
23. 2025-11-05
    historical
24. 2025-09-04
    price $110,000
25. 2025-09-03
    status Active
26. 2024-12-05
    status Pending
27. 2024-09-10
    price $105,000
28. 2024-09-10
    status Active
29. 2024-06-08
    status Pending
30. 2024-06-08
    historical
31. 2024-05-24
    listed $79,000 Active
32. 2022-12-15
    historical
33. 2022-10-08
    historical Active Under Contract
34. 2022-09-15
    listed $115,000 Active
35. 2022-02-18
    historical
36. 2021-08-20
    listed $120,000 Active
37. 2017-05-31
    soldstatus $110,000
38. 2010-08-31
    price $11,500 Sold
39. 2010-08-31
    soldstatus $13,000 Sold
40. 2010-08-20
    soldstatus $13,000
41. 2010-05-21
    status Contract
42. 2010-05-05
    price $9,900 Contingent (Kick Out)
43. 2010-05-05
    status Contingent (Kick Out)
44. 2010-05-05
    historical
45. 2010-04-21
    price $14,900 Temporarily Off-Market
46. 2010-04-21
    historical Temporarily Off-Market
47. 2010-03-18
    listed $49,900 Active
48. 2010-03-18
    listed $11,500
49. 2005-08-04
    soldstatus $95,000
50. 2005-02-18
    soldstatus $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: $3,180 · $265/mo
• Projected year-2 tax: $3,180 · $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 7/10 Severe 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 23% 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: $30,594
• − Mortgage interest: −$5,680
• − Property taxes: −$3,180
• − Insurance: −$507
• − Repairs & maintenance: −$2,448
• − Management: −$2,448
• − Depreciation: −$2,950
• Taxable income: $13,382
• Est. tax owed @ 24.0%: −$3,212
• After-tax cash flow: $10,890/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

+114.3% since first listed

42 events — show timeline

• 2026-04-14 Contingent — BRIGHT MLS
• 2026-04-09 Pending — BRIGHT MLS
• 2026-04-01 Listing Removed — BRIGHT MLS
• 2026-04-01 Listed $105,000 BRIGHT MLS
• 2026-03-29 Relisted — BRIGHT MLS
• 2026-02-12 Listing Removed — BRIGHT MLS
• 2026-01-29 Listed $105,000 BRIGHT MLS
• 2025-11-05 Listing Removed — BRIGHT MLS
• 2025-09-04 Price Changed $110,000 BRIGHT MLS
• 2025-09-03 Relisted — BRIGHT MLS
• 2024-12-05 Pending — BRIGHT MLS
• 2024-09-10 Price Changed $105,000 BRIGHT MLS
• 2024-09-10 Relisted — BRIGHT MLS
• 2024-06-08 Pending — BRIGHT MLS
• 2024-06-08 Listing Removed — BRIGHT MLS
• 2024-05-24 Listed $79,000 BRIGHT MLS
• 2022-12-15 Listing Removed — BRIGHT MLS
• 2022-10-08 Contingent — BRIGHT MLS
• 2022-09-15 Listed $115,000 BRIGHT MLS
• 2022-02-18 Listing Removed — BRIGHT MLS
• 2021-08-20 Listed $120,000 BRIGHT MLS
• 2017-05-31 Sold (Public Records) $110,000 Public Records
• 2010-08-31 Sold (MLS) $13,000 MRIS
• 2010-08-31 Price Changed $11,500 MRIS
• 2010-08-20 Sold (MLS) $13,000 BRIGHT MLS
• 2010-05-21 Pending — MRIS
• 2010-05-05 Relisted — MRIS
• 2010-05-05 Price Changed $9,900 MRIS
• 2010-05-05 Listing Removed — BRIGHT MLS
• 2010-04-21 Delisted — MRIS
• 2010-04-21 Price Changed $14,900 MRIS
• 2010-03-18 Listed $49,900 MRIS
• 2010-03-18 Listed $11,500 BRIGHT MLS
• 2005-08-04 Sold (Public Records) $95,000 Public Records
• 2005-02-18 Sold (MLS) $39,900 MRIS
• 2005-01-27 Delisted — MRIS
• 2005-01-12 Listed $39,900 MRIS
• 2002-01-14 Sold (Public Records) $70,000 Public Records
• 2001-10-31 Sold (MLS) $16,000 MRIS
• 2001-09-19 Delisted — MRIS
• 2001-09-04 Listed $18,500 MRIS
• 1998-11-06 Sold (Public Records) $49,000 Public Records

Property tax history

+2.7%/yr

Latest (2025): $3,180 · +6.0% YoY. Source: county tax records.