3161 Elmora Ave · Baltimore, MD 21213

$90,000

3 bd · 1.0 ba · 1,372 sqft · Townhouse public records · 89 Days on market

Built 1920 $66/sqft · 25% below area Est $120k · 25% under

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Why this score? — see what drove the A- 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
• Appreciation +4.7/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0

Listing remarks MLS

If you are looking to add the perfect rental to your investment portfolio, look no further! 3161 Elmora offers a turnkey, rent-ready 3bd/1ba set up that will allow you to maximize rents! With three above-grade bedrooms, investors can pull in a whopping $2400+ through subsidized rent programs (BRHP), making this investment a true cash cow. With little to no maintenance required, this property is situated to start producing cash flow on day one. Add your next asset to your portfolio today!

Key facts

• Built 1920
• Listed 89 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $90k.

Deal economics

• At list price, monthly cash flow is $772 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $85k (6.0% below list) — sets the bar for market timing.
• Cap rate 16.6% 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 fast (+5.2%/yr); 319 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); 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 41% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $111 of equity ($622 loan paydown + $-511 appreciation (-0.6% local appreciation)).
• Baltimore County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-0.6% appreciation + 5.2% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 25y ago; this cycle's ask has dropped $20k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $90k implies a 203% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $84,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 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 1920 — 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: 1.97% ✓
• Cap rate: 16.58%
• Cash-on-cash: 36.75%
• DSCR: 2.63
• GRM: 4.2

CMA / ARV

• ARV (median comp): $120,361
• List price: $90,000
• Delta: -25.22%
• 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
3533 Elmley Ave	0.41mi	3/1.5	1,344 (-2%)	1mo	$70,000	$52	74
2902 Clifton Park Ter	0.47mi	3/1.5	1,344 (-2%)	1mo	$66,000	$49	72
2422 E Federal St	0.52mi	3/1.0	1,350 (-2%)	1mo	$55,000	$41	72
1418 N Linwood Ave	0.56mi	3/1.0	1,356 (-1%)	0mo	$90,000	$66	72
3114 Mareco Ave	0.42mi	3/2.0	1,410 (+3%)	2mo	$125,000	$89	70
3564 Elmora Ave	0.47mi	3/1.5	1,478 (+8%)	1mo	$133,500	$90	62
1411 Kenhill Ave	0.57mi	4/2.0 (+1)	1,356 (-1%)	1mo	$240,000	$177	62
3733 Ravenwood Ave	0.71mi	3/2.0	1,350 (-2%)	1mo	$135,000	$100	60
2821 Erdman Ave	0.51mi	2/2.0 (-1)	1,260 (-8%)	0mo	$75,000	$60	53
2846 Lake Ave	0.62mi	4/2.5 (+1)	1,455 (+6%)	2mo	$235,000	$162	49
3436 Cliftmont Ave	0.59mi	3/1.5	1,200 (-12%)	2mo	$120,000	$100	48
3555 Elmora Ave	0.45mi	4/2.0 (+1)	1,178 (-14%)	1mo	$254,000	$216	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.57% appreciation · 5.25% rent growth · sell at horizon

5-year hold

• IRR: 39.0%
• Equity multiple: 2.92×
• Total profit: $48,266
• Equity at exit: $23,606

10-year hold

• IRR: 43.9%
• Equity multiple: 6.25×
• Total profit: $132,234
• Equity at exit: $26,430

Cash invested: $25,200 (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 21213

• Home prices YoY: -0.1%
• Rents YoY: 5.2%
• Active inventory: 319
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,770 high
• Mortgage (P&I): −$472
• Tax from tax record: −$117 /mo · $1,409/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $772

Break-even live

Break-even rent $794

Max offer price $90,000

Occupancy floor 51%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2113 Belair Rd Baltimore, MD	3.0	1.0	1344	$1,795	$1.34	44d	1	0.03mi
3221 Lyndale Ave Baltimore, MD	2.0	2.0	1020	$1,700	$1.67	24d	1	0.07mi
3218 Lyndale Ave Baltimore, MD	3.0	1.5	1020	$1,500	$1.47	24d	1	0.07mi
3213 Elmley Ave Baltimore, MD	2.0	1.0	1188	$1,395	$1.17	44d	1	0.08mi
3222 Lyndale Ave Unit 1 Baltimore, MD	3.0	1.5	1500	$2,200	$1.47	12d	1	0.08mi
3315 Lyndale Ave Baltimore, MD	2.0	1.5	896	$1,650	$1.84	18d	1	0.13mi
3317 Lyndale Ave Baltimore, MD	3.0	1.0	900	$1,300	$1.44	44d	1	0.13mi
3322 Ravenwood Ave Baltimore, MD	3.0	2.0	932	$1,800	$1.93	24d	1	0.14mi
3326 Elmora Ave Baltimore, MD	3.0	1.0	1200	$1,450	$1.21	24d	1	0.14mi
3335 Lyndale Ave Baltimore, MD	2.0	2.0	1344	$1,600	$1.19	24d	1	0.16mi
3339 Elmora Ave Baltimore, MD	3.0	2.0	896	$1,600	$1.79	44d	1	0.16mi
3343 Ravenwood Ave Unit 3343 Baltimore, MD	2.0	2.0	948	$1,855	$1.96	18d	1	0.18mi
3512 Elmora Ave Baltimore, MD	3.0	1.5	1472	$1,900	$1.29	20d	1	0.38mi
3551 Elmley Ave Baltimore, MD	3.0	1.5	1872	$2,095	$1.12	24d	1	0.45mi
2311 E Lafayette Ave Baltimore, MD	3.0	1.0	1000	$1,400	$1.40	44d	1	0.48mi
2522 E Federal St Baltimore, MD	2.0	2.0	1760	$1,400	$0.80	44d	1	0.49mi
3610 Elmley Ave Baltimore, MD	2.0	1.5	1200	$1,550	$1.29	20d	1	0.56mi
2621 E Oliver St Baltimore, MD	3.0	2.0	1600	$1,700	$1.06	24d	1	0.57mi
3902 Erdman Ave Unit 1 Baltimore, MD	2.0	1.0	1000	$1,275	$1.27	24d	1	0.59mi
3914 Erdman Ave #1 Baltimore, MD	3.0	1.0	1200	$1,319	$1.10	18d	1	0.60mi
3603 Ravenwood Ave Unit 1 Baltimore, MD	4.0	1.0	1566	$1,600	$1.02	44d	1	0.61mi
1403 N Linwood Ave Baltimore, MD	3.0	2.0	1660	$1,995	$1.20	44d	1	0.61mi
2828 Lake Ave Baltimore, MD	3.0	2.0	1164	$1,850	$1.59	4d	1	0.61mi
3436 Cardenas Ave Baltimore, MD	2.0	1.0	1146	$1,395	$1.22	44d	1	0.62mi
4104 Erdman Ave Unit 2 Baltimore, MD	2.0	1.0	1566	$1,075	$0.69	4d	1	0.63mi
1323 N Kenwood Ave Unit 1 Baltimore, MD	2.0	1.5	1060	$1,350	$1.27	24d	1	0.64mi
3525 Kentucky Ave Baltimore, MD	3.0	1.5	1536	$1,950	$1.27	44d	1	0.69mi
3519 Kentucky Ave Baltimore, MD	3.0	2.0	1536	$2,100	$1.37	11d	1	0.69mi
2626 E Preston St Baltimore, MD	3.0	1.0	1136	$1,800	$1.58	44d	1	0.69mi
1310 N Ellwood Ave Baltimore, MD	2.0	1.0	1000	$1,450	$1.45	12d	1	0.71mi
1310 N Ellwood Ave #1 Baltimore, MD	2.0	1.0	1000	$1,550	$1.55	22d	1	0.71mi
3515 Parklawn Ave Baltimore, MD	3.0	2.0	1240	$1,700	$1.37	3d	1	0.71mi
2837 Pelham Ave Baltimore, MD	4.0	2.0	1164	$1,675	$1.44	44d	1	0.74mi
2817 Pelham Ave Baltimore, MD	3.0	2.0	1464	$1,950	$1.33	24d	1	0.74mi
2706 E Biddle St Baltimore, MD	3.0	2.0	1577	$1,395	$0.88	44d	1	0.76mi
2848 Pelham Ave Baltimore, MD	3.0	2.0	1164	$1,700	$1.46	44d	1	0.76mi
1215 N Ellwood Ave Baltimore, MD	3.0	1.0	1128	$1,795	$1.59	24d	1	0.77mi
3572 Juneway Unit 1 Baltimore, MD	2.0	1.0	1800	$1,200	$0.67	44d	1	0.80mi
2430 E Biddle St Baltimore, MD	2.0	2.0	1300	$2,000	$1.54	44d	1	0.80mi
1832 E 28th St Baltimore, MD	3.0	1.0	1066	$1,495	$1.40	24d	1	0.80mi

Listing history 27 events

1. 2026-04-20
   price $90,000 492-char remark

   Show marketing remark (492 chars)

   If you are looking to add the perfect rental to your investment portfolio, look no further! 3161 Elmora offers a turnkey, rent-ready 3bd/1ba set up that will allow you to maximize rents! With three above-grade bedrooms, investors can pull in a whopping $2400+ through subsidized rent programs (BRHP), making this investment a true cash cow. With little to no maintenance required, this property is situated to start producing cash flow on day one. Add your next asset to your portfolio today!

2. 2026-03-24
   price $97,000 492-char remark

   Show marketing remark (492 chars)

   If you are looking to add the perfect rental to your investment portfolio, look no further! 3161 Elmora offers a turnkey, rent-ready 3bd/1ba set up that will allow you to maximize rents! With three above-grade bedrooms, investors can pull in a whopping $2400+ through subsidized rent programs (BRHP), making this investment a true cash cow. With little to no maintenance required, this property is situated to start producing cash flow on day one. Add your next asset to your portfolio today!

3. 2026-03-01
   listed $109,900 Active 492-char remark

   Show marketing remark (492 chars)

   If you are looking to add the perfect rental to your investment portfolio, look no further! 3161 Elmora offers a turnkey, rent-ready 3bd/1ba set up that will allow you to maximize rents! With three above-grade bedrooms, investors can pull in a whopping $2400+ through subsidized rent programs (BRHP), making this investment a true cash cow. With little to no maintenance required, this property is situated to start producing cash flow on day one. Add your next asset to your portfolio today!

4. 2017-07-06
   historical Withdrawn
5. 2017-06-19
   listed Active
6. 2010-10-04
   price $29,700
7. 2010-09-28
   historical
8. 2010-09-28
   soldstatus $29,700 Sold
9. 2010-09-28
   soldstatus $29,700
10. 2010-08-04
    status Contract
11. 2010-08-04
    historical
12. 2010-07-20
    price $23,000
13. 2010-06-24
    listed $30,000 Active
14. 2010-06-24
    listed $29,700
15. 2009-10-03
    historical
16. 2009-10-03
    historical
17. 2009-08-21
    listed Active
18. 2009-08-20
    listed $59,500
19. 2007-10-22
    historical
20. 2007-08-03
    listed
21. 2007-04-12
    historical
22. 2007-03-16
    listed
23. 2005-11-09
    soldstatus $61,750
24. 2002-05-07
    soldstatus $17,500
25. 2002-04-19
    historical
26. 2001-07-31
    listed $25,000
27. 1993-08-25
    soldstatus $26,600

ⓘ 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: $1,409 · $117/mo
• Projected year-2 tax: $1,409 · $117/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 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: $21,244
• − Mortgage interest: −$5,041
• − Property taxes: −$1,409
• − Insurance: −$450
• − Repairs & maintenance: −$1,700
• − Management: −$1,700
• − Depreciation: −$2,618
• Taxable income: $8,326
• Est. tax owed @ 24.0%: −$1,998
• After-tax cash flow: $7,262/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): 28,058
• Household income: $51,344
• Rent vs Own: 48.0% rent · 52.0% own
• Severe rent burden: 1868.0

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 (86%)
• Race & ethnicity: Black 86% White 6% Hispanic / Latino 4% Two or more races 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -0.57%
• Current HPI: 427.4453
• Rent YoY: ▲ 5.25%
• 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

+238.3% since first listed

27 events — show timeline

• 2026-04-20 Price Changed $90,000 BRIGHT MLS
• 2026-03-24 Price Changed $97,000 BRIGHT MLS
• 2026-03-01 Listed $109,900 BRIGHT MLS
• 2017-07-06 Delisted — MRIS
• 2017-06-19 Listed — MRIS
• 2010-10-04 Price Changed $29,700 MRIS
• 2010-09-28 Delisted — MRIS
• 2010-09-28 Sold (MLS) $29,700 BRIGHT MLS
• 2010-09-28 Sold (MLS) $29,700 MRIS
• 2010-08-04 Pending — MRIS
• 2010-08-04 Listing Removed — BRIGHT MLS
• 2010-07-20 Price Changed $23,000 MRIS
• 2010-06-24 Listed $30,000 MRIS
• 2010-06-24 Listed $29,700 BRIGHT MLS
• 2009-10-03 Delisted — MRIS
• 2009-10-03 Listing Removed — BRIGHT MLS
• 2009-08-21 Listed — MRIS
• 2009-08-20 Listed $59,500 BRIGHT MLS
• 2007-10-22 Delisted — MRIS
• 2007-08-03 Listed — MRIS
• 2007-04-12 Delisted — MRIS
• 2007-03-16 Listed — MRIS
• 2005-11-09 Sold (Public Records) $61,750 Public Records
• 2002-05-07 Sold (MLS) $17,500 MRIS
• 2002-04-19 Delisted — MRIS
• 2001-07-31 Listed $25,000 MRIS
• 1993-08-25 Sold (Public Records) $26,600 Public Records

Property tax history

-2.3%/yr

Latest (2025): $1,409 · +15.4% YoY. Source: county tax records.