4011 Mortimer Ave · Baltimore, MD 21215

$199,000

3 bd · 2.5 ba · 1,395 sqft · Townhouse public records · 64 Days on market

Built 1953 7,000 sqft lot Est $220k · 10% under

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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 +15.0/30.0
• ARV discount +11.9/15.0
• 1% rule +4.6/10.0
• DSCR +4.6/10.0
• 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 MLS

* * ABSOLUTELY STUNNING * * OPEN HOUSE 11/4/2023 1-3PM!! NEW UPDATES RECENTLY ADDED INCLUDING BRAND NEW WINDOWS. This semi-detached home was tastefully updated in 2023 and is sure to impress. The home features 3 large bedrooms and 2 full baths. A prime location, this home is situated near Northern pkwy, Reisterstown rd. and has easy access to all major routes such as 83, 695, 70 and 95!! This home features an open concept floor plan with brand new LVP floors throughout. The kitchen has been updated to include custom white cabinets, Quartz countertops and Stainless Steel Appliances. The upper level has 3 generous sized bedrooms and a full bath. The walk out basement features a large rec room with a fireplace and full bathroom. The rear of the home features a large fenced in lot, a large deck with new deck boards! The roof was replaced in 2019 with architectural shingles. This home has it all and plenty more! Make an appointment today!

Key facts

• Move-in ready
• Renovated home
• Flexible layout

Tags

• RENOVATED HOME
• UPGRADED KITCHENS
• OFF-STREET PARKING
• MOVE-IN READY
• FLEXIBLE LAYOUT
• DESIRABLE NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $199k.

Deal economics

• At list price, monthly cash flow is $62 ($744/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $190k (4.3% below list).
• Recommended offer: $187k (6.0% below list) — sets the bar for market timing.

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: Cross Country Elementary/Middle (math 6% / reading 18%, grade F, #550 of 860 statewide, top 66%, 649 students, 68% FRL); Baltimore Polytechnic Institute (math 71% / reading 84%, grade A-, #22 of 222 statewide, top 10%, 1,555 students, 43% FRL) — zoned schools average 55% FRL vs 79% district-wide (24 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 45% at this address vs 12% district-wide (+33 pts) — the actual schools serving this property are materially stronger than the Baltimore City Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+2.4%/yr); 354 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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 44% 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 $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 64 days — a 6% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y ago; this cycle's ask is 7704% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1953 — 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 $187,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1953 — 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. 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?
8. 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.
9. 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.
10. 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: 0.96% ✗
• Cap rate: 6.67%
• Cash-on-cash: 1.34%
• DSCR: 1.06
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $220,410
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4115 Newton Ave	0.17mi	3/1.0	1,344 (-4%)	11mo	$110,000	$82	70
5719 Jonquil Ave	0.23mi	4/2.0 (+1)	1,368 (-2%)	11mo	$245,000	$179	70
5424 Jonquil Ave	0.31mi	4/3.5 (+1)	1,332 (-4%)	2mo	$200,000	$150	67
5561 Kennison Ave	0.70mi	3/1.5	1,395 (0%)	1mo	$142,000	$102	63
5118 Nelson Ave	0.69mi	3/2.0	1,386 (-1%)	3mo	$219,000	$158	62
4105 Newbern Ave	0.33mi	3/2.0	1,280 (-8%)	10mo	$234,900	$184	60
3916 Hayward Ave	0.43mi	3/2.5	1,248 (-10%)	3mo	$237,375	$190	60
3706 Hayward Ave	0.49mi	3/2.5	1,504 (+8%)	8mo	$245,000	$163	58
5423 Jonquil Ave	0.34mi	3/1.0	1,260 (-10%)	8mo	$87,000	$69	56
5334 Cuthbert Ave	0.45mi	3/2.0	1,280 (-8%)	10mo	$199,000	$155	54
3800 Hayward Ave	0.47mi	3/2.0	1,224 (-12%)	6mo	$80,000	$65	51
3335 Avondale Ave	0.65mi	3/2.0	1,200 (-14%)	9mo	$214,000	$178	37

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: -14.8%
• Equity multiple: 0.47×
• Total profit: $-29,350
• Equity at exit: $29,672

10-year hold

• IRR: -7.2%
• Equity multiple: 0.56×
• Total profit: $-24,744
• Equity at exit: $17,206

Cash invested: $55,720 (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: 8.7×

Monthly cashflow live

• Estimated rent: $1,904 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$315 /mo · $3,785/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$400
• Net cashflow: $62

Break-even live

Break-even rent $1,825

Max offer price $199,000

Occupancy floor 92%

Sensitivity live

Price	-10% $175	-5% $118	+0% $62	+5% $6	+10% $-51
Rent	-10% $-88	-5% $-13	+0% $62	+5% $137	+10% $212
Rate	-1.0pp $162	-0.5pp $113	base $62	+0.5pp $10	+1.0pp $-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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3912 Mortimer Ave Baltimore, MD	3.0	2.0	1204	$2,723	$2.26	45d	1	0.07mi
5343 Nelson Ave Baltimore, MD	2.0	1.0	1000	$1,215	$1.22	25d	1	0.34mi
5340 Maple Ave Baltimore, MD	2.0	1.0	1200	$1,950	$1.62	45d	1	0.69mi
5301 Maple Ave Baltimore, MD	3.0	1.0	960	$1,700	$1.77	45d	1	0.74mi
5000 Litchfield Ave #1 Baltimore, MD	2.0	1.0	1100	$1,100	$1.00	45d	1	0.75mi
3638 Fords Ln Baltimore, MD	2.0	2.0	1001	$1,795	$1.79	45d	1	0.76mi
3705 Midheights Rd Baltimore, MD	3.0	1.5	1024	$1,900	$1.86	25d	1	0.84mi
3501 Oakmont Ave Baltimore, MD	2.0	1.0	915	$1,195	$1.31	0d	1	0.86mi
4010 Fernhill Ave Unit 2 Baltimore, MD	2.0	1.0	1100	$1,500	$1.36	45d	1	0.87mi
6317 Pearce Ave Baltimore, MD	2.0	2.0	1140	$1,600	$1.40	45d	1	0.89mi
3809 Clarks Ln Unit 301 Baltimore, MD	2.0	2.0	1057	$1,600	$1.51	25d	1	0.90mi
4828 Beaufort Ave Baltimore, MD	2.0	2.5	1200	$1,850	$1.54	25d	1	0.93mi
3735 Manchester Ave Baltimore, MD	2.0	1.0	1000	$1,350	$1.35	6d	1	0.95mi
3505 Clarks Ln Unit D2 Baltimore, MD	3.0	2.0	1750	$2,500	$1.43	45d	1	0.97mi
2900 Taney Rd Apt 1A Baltimore, MD	2.0	2.0	1200	$1,600	$1.33	25d	1	0.98mi
3784 Columbus Dr Baltimore, MD	4.0	2.0	1250	$2,200	$1.76	25d	1	1.01mi
3607 Labyrinth Rd Baltimore, MD	1.0–3.0	1.0–2.0	925	$2,100	$2.27	21d	5	1.06mi
3727 Milford Ave Gwynn Oak, MD	3.0	1.0	900	$1,450	$1.61	45d	1	1.07mi
3807 Bowers Ave Gwynn Oak, MD	3.0	1.5	1152	$2,200	$1.91	45d	1	1.08mi
5115 Pembridge Ave Baltimore, MD	3.0	2.0	1088	$2,150	$1.98	45d	1	1.10mi
6609 Eberle Dr Baltimore, MD	1.0–3.0	1.0–2.0	1011	$1,787	$1.77	0d	26	1.12mi
3301 Clarks Ln Baltimore, MD	1.0–2.0	1.0	801	$1,345	$1.68	0d	9	1.18mi
3601 Howard Park Ave Unit 2 Baltimore, MD	3.0	1.0	1000	$1,650	$1.65	45d	1	1.24mi
3617 Mohawk Ave Baltimore, MD	2.0	1.0	1000	$1,595	$1.59	45d	1	1.26mi
3615 Mohawk Ave Gwynn Oak, MD	2.0	1.0	1000	$1,610	$1.61	45d	1	1.26mi
2432 Everton Rd Unit 2435 A Baltimore, MD	2.0	1.5	1000	$1,500	$1.50	25d	1	1.28mi
5801 Western Run Dr Baltimore, MD	3.0	1.0–2.0	835	$1,979	$2.37	0d	8	1.30mi
6936 Blanche Rd Baltimore, MD	3.0	1.5	1410	$1,800	$1.28	45d	1	1.39mi
6310 Greenspring Ave Baltimore, MD	2.0–3.0	1.5–2.0	1080	$1,940	$1.80	5d	6	1.46mi
3014 Romaric Ct Baltimore, MD	2.0	1.0	880	$1,724	$1.96	6d	1	1.47mi
3014 Romaric Ct Baltimore, MD	2.0	2.0	940	$1,709	$1.82	3d	1	1.47mi
3014 Romaric Ct Baltimore, MD	2.0	2.0	940	$1,719	$1.83	0d	1	1.47mi
3002 Fallstaff Manor Ct Baltimore, MD	1.0–2.0	1.0–2.0	810	$1,879	$2.32	0d	12	1.49mi

Listing history 17 events

1. 2026-02-19
   status Pending
2. 2026-02-10
   status Active
3. 2025-11-12
   historical $2,550
4. 2025-11-11
   historical Active Under Contract
5. 2025-11-06
   listed $2,550
6. 2025-11-04
   status Active
7. 2025-09-15
   status Pending
8. 2025-09-04
   price $199,000
9. 2025-08-07
   price $262,000
10. 2025-07-29
    listed $269,000 Active
11. 2024-01-25
    soldstatus $234,900
12. 2023-12-08
    soldstatus $234,900 Closed 961-char remark

    Show marketing remark (961 chars)

    * * ABSOLUTELY STUNNING * * OPEN HOUSE 11/4/2023 1-3PM!! NEW UPDATES RECENTLY ADDED INCLUDING BRAND NEW WINDOWS. This semi-detached home was tastefully updated in 2023 and is sure to impress. The home features 3 large bedrooms and 2 full baths. A prime location, this home is situated near Northern pkwy, Reisterstown rd. and has easy access to all major routes such as 83, 695, 70 and 95!! This home features an open concept floor plan with brand new LVP floors throughout. The kitchen has been updated to include custom white cabinets, Quartz countertops and Stainless Steel Appliances. The upper level has 3 generous sized bedrooms and a full bath. The walk out basement features a large rec room with a fireplace and full bathroom. The rear of the home features a large fenced in lot, a large deck with new deck boards! The roof was replaced in 2019 with architectural shingles. This home has it all and plenty more! Make an appointment today!

13. 2023-11-11
    historical Active Under Contract 961-char remark

    Show marketing remark (961 chars)

    * * ABSOLUTELY STUNNING * * OPEN HOUSE 11/4/2023 1-3PM!! NEW UPDATES RECENTLY ADDED INCLUDING BRAND NEW WINDOWS. This semi-detached home was tastefully updated in 2023 and is sure to impress. The home features 3 large bedrooms and 2 full baths. A prime location, this home is situated near Northern pkwy, Reisterstown rd. and has easy access to all major routes such as 83, 695, 70 and 95!! This home features an open concept floor plan with brand new LVP floors throughout. The kitchen has been updated to include custom white cabinets, Quartz countertops and Stainless Steel Appliances. The upper level has 3 generous sized bedrooms and a full bath. The walk out basement features a large rec room with a fireplace and full bathroom. The rear of the home features a large fenced in lot, a large deck with new deck boards! The roof was replaced in 2019 with architectural shingles. This home has it all and plenty more! Make an appointment today!

14. 2023-10-24
    price $234,900 961-char remark

    Show marketing remark (961 chars)

    * * ABSOLUTELY STUNNING * * OPEN HOUSE 11/4/2023 1-3PM!! NEW UPDATES RECENTLY ADDED INCLUDING BRAND NEW WINDOWS. This semi-detached home was tastefully updated in 2023 and is sure to impress. The home features 3 large bedrooms and 2 full baths. A prime location, this home is situated near Northern pkwy, Reisterstown rd. and has easy access to all major routes such as 83, 695, 70 and 95!! This home features an open concept floor plan with brand new LVP floors throughout. The kitchen has been updated to include custom white cabinets, Quartz countertops and Stainless Steel Appliances. The upper level has 3 generous sized bedrooms and a full bath. The walk out basement features a large rec room with a fireplace and full bathroom. The rear of the home features a large fenced in lot, a large deck with new deck boards! The roof was replaced in 2019 with architectural shingles. This home has it all and plenty more! Make an appointment today!

15. 2023-09-29
    listed $229,900 Active 961-char remark

    Show marketing remark (961 chars)

    * * ABSOLUTELY STUNNING * * OPEN HOUSE 11/4/2023 1-3PM!! NEW UPDATES RECENTLY ADDED INCLUDING BRAND NEW WINDOWS. This semi-detached home was tastefully updated in 2023 and is sure to impress. The home features 3 large bedrooms and 2 full baths. A prime location, this home is situated near Northern pkwy, Reisterstown rd. and has easy access to all major routes such as 83, 695, 70 and 95!! This home features an open concept floor plan with brand new LVP floors throughout. The kitchen has been updated to include custom white cabinets, Quartz countertops and Stainless Steel Appliances. The upper level has 3 generous sized bedrooms and a full bath. The walk out basement features a large rec room with a fireplace and full bathroom. The rear of the home features a large fenced in lot, a large deck with new deck boards! The roof was replaced in 2019 with architectural shingles. This home has it all and plenty more! Make an appointment today!

16. 2023-06-05
    soldstatus $97,000
17. 2004-11-09
    soldstatus $68,000

ⓘ 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: $3,785 · $315/mo
• Projected year-2 tax: $3,785 · $315/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 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: $22,845
• − Mortgage interest: −$11,147
• − Property taxes: −$3,785
• − Insurance: −$995
• − Repairs & maintenance: −$1,828
• − Management: −$1,828
• − Depreciation: −$5,789
• Taxable loss: −$2,527
• Est. tax savings @ 24.0%: +$606
• After-tax cash flow: $1,351/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

-96.2% since first listed

17 events — show timeline

• 2026-02-19 Pending — BRIGHT MLS
• 2026-02-10 Relisted — BRIGHT MLS
• 2025-11-12 Rental Removed $2,550 BRIGHTMLS
• 2025-11-11 Contingent — BRIGHT MLS
• 2025-11-06 Listed for Rent $2,550 BRIGHTMLS
• 2025-11-04 Relisted — BRIGHT MLS
• 2025-09-15 Pending — BRIGHT MLS
• 2025-09-04 Price Changed $199,000 BRIGHT MLS
• 2025-08-07 Price Changed $262,000 BRIGHT MLS
• 2025-07-29 Listed $269,000 BRIGHT MLS
• 2024-01-25 Sold (Public Records) $234,900 Public Records
• 2023-12-08 Sold (MLS) $234,900 BRIGHT MLS
• 2023-11-11 Contingent — BRIGHT MLS
• 2023-10-24 Price Changed $234,900 BRIGHT MLS
• 2023-09-29 Listed $229,900 BRIGHT MLS
• 2023-06-05 Sold (Public Records) $97,000 Public Records
• 2004-11-09 Sold (Public Records) $68,000 Public Records

Property tax history

+1.1%/yr

Latest (2025): $3,785 · +16.9% YoY. Source: county tax records.