3913 W Garrison Ave · Baltimore, MD 21215

$75,000

3 bd · 1.0 ba · 1,200 sqft · Townhouse · 29 Days on market

Built 1770 Est $134k · 44% 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 charming 3-bedroom, 1-bathroom townhouse in the Garrison area offers a solid investment opportunity. The property features traditional brick and concrete construction, ensuring durability and low maintenance. The interior boasts a galley kitchen, seperate dining and living room areas, and a full basement, providing ample space for storage or potential rental conversion. Key appliances include a washer, dryer, refrigerator, and stove, enhancing tenant appeal. The property is in good condition, with carpet and ceramic tile flooring throughout. Outdoor features include a fenced front and rear yard, perfect for landscaping or outdoor activities. Located less than a mile from public trans

Key facts

• Built 1770
• Listed 28 days

Property features AI

Finance

• Other: Not located in a federal flood zone
• Financial info: Fee simple ownership; Property in good condition
• HOA & community: Ground rent paid annually

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas available; Electric available; Municipal trash service
• Home design: Interior townhouse/rowhouse; Estimated year built
• Construction: Brick and concrete construction; Asphalt roof; Concrete perimeter foundation; Windows with screens; Building not winterized
• Exterior features: Front yard; Rear yard; Chain link fencing; Other exterior features

Interior

• Kitchen: Refrigerator; Stove
• Bedrooms: 3 bedrooms on main level
• Flooring: Carpet; Ceramic tile
• Bathrooms: 1 full bathroom on main level
• Heating & cooling: Forced air heating (natural gas); Central air conditioning (electric)
• Interior features: Tub shower; Ceiling fan(s); Dining area; Galley kitchen; Dry wall and plaster walls; Storm door
• Laundry & utility: Washer and dryer (laundry in basement); Electric water heater

🏷️ Possibly a rental listed for sale. The $75,000 price doesn't fit this home's estimated sale value (~$134,400) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $75k.

Deal economics

• At list price, monthly cash flow is $750 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $74k (1.5% below list) — sets the bar for market timing.
• Cap rate 18.3% 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); 48% 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 $519 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 $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 24y 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.
• Current owner paid $17k; list at $75k implies a 354% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1770 — 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 $73,875 (1.5% below list)

Questions for the listing agent

1. Built in 1770 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 2.11% ✓
• Cap rate: 18.29%
• Cash-on-cash: 42.85%
• DSCR: 2.91
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $134,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3709 Columbus Dr	0.43mi	3/1.5	1,200 (0%)	0mo	$133,900	$112	78
3701 Columbus Dr	0.46mi	3/1.0	1,200 (0%)	4mo	$108,000	$90	75
3916 Hayward Ave	0.33mi	3/2.5	1,248 (+4%)	3mo	$237,375	$190	70
3716 Columbus Dr	0.41mi	4/2.0 (+1)	1,200 (0%)	3mo	$242,000	$202	70
3824 Beehler Ave	0.26mi	3/1.5	1,080 (-10%)	3mo	$88,000	$81	67
5329 Cordelia Ave	0.39mi	3/1.0	1,080 (-10%)	1mo	$105,000	$97	64
4927 Edgemere Ave	0.37mi	2/1.0 (-1)	1,080 (-10%)	3mo	$95,000	$88	59
3741 Boarman Ave	0.61mi	3/1.0	1,280 (+7%)	3mo	$115,000	$90	58
5422 Price Ave	0.51mi	3/1.5	1,080 (-10%)	2mo	$140,000	$130	56
4041 W Cold Spring Ln	0.64mi	3/2.5	1,310 (+9%)	1mo	$239,900	$183	48
5424 Jonquil Ave	0.50mi	4/3.5 (+1)	1,332 (+11%)	2mo	$200,000	$150	42
5533 Nome Ave	0.72mi	2/2.0 (-1)	1,085 (-10%)	2mo	$110,500	$102	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: 39.0%
• Equity multiple: 2.65×
• Total profit: $34,689
• Equity at exit: $11,183

10-year hold

• IRR: 45.1%
• Equity multiple: 5.19×
• Total profit: $87,975
• Equity at exit: $6,485

Cash invested: $21,000 (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: 3.9×

Monthly cashflow live

• Estimated rent: $1,583 high
• Mortgage (P&I): −$393
• Tax from tax record: −$76 /mo · $917/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $750

Break-even live

Break-even rent $634

Max offer price $75,000

Occupancy floor 48%

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: $18,750
• Closing costs: $2,250
• 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	43d	1	0.13mi
3735 Manchester Ave Baltimore, MD	2.0	1.0	1000	$1,350	$1.35	4d	1	0.21mi
4828 Beaufort Ave Baltimore, MD	2.0	2.5	1200	$1,850	$1.54	23d	1	0.24mi
3784 Columbus Dr Baltimore, MD	4.0	2.0	1250	$2,200	$1.76	23d	1	0.28mi
3904 Penhurst Ave Baltimore, MD	2.0	1.0	760	$1,175	$1.55	43d	1	0.29mi
3908 Groveland Ave Apt F Baltimore, MD	2.0	1.0	815	$1,695	$2.08	43d	1	0.30mi
5343 Nelson Ave Baltimore, MD	2.0	1.0	1000	$1,215	$1.22	23d	1	0.46mi
4010 Fernhill Ave Unit 2 Baltimore, MD	2.0	1.0	1100	$1,500	$1.36	43d	1	0.49mi
3016 Thorndale Ave Baltimore, MD	1.0–3.0	1.0	700	$1,200	$1.71	4d	14	0.58mi
5301 Maple Ave Baltimore, MD	3.0	1.0	960	$1,700	$1.77	43d	1	0.60mi
5340 Maple Ave Baltimore, MD	2.0	1.0	1200	$1,950	$1.62	43d	1	0.62mi
5115 Pembridge Ave Baltimore, MD	3.0	2.0	1088	$2,150	$1.98	43d	1	0.76mi
3912 Mortimer Ave Baltimore, MD	3.0	2.0	1204	$2,723	$2.26	43d	1	0.79mi
4230 Towanda Ave Baltimore, MD	3.0	2.0	1400	$1,800	$1.29	17d	1	0.80mi
3701 Garrison Blvd Unit 3 Baltimore, MD	2.0	1.0	820	$1,399	$1.71	23d	1	0.86mi
2915 Oakford Ave Baltimore, MD	3.0	2.0	1102	$1,600	$1.45	17d	1	0.89mi
3600 Garrison Blvd Apt T1 Baltimore, MD	2.0	1.0	800	$1,125	$1.41	3d	1	0.93mi
3600 Garrison Blvd Unit T2 Baltimore, MD	2.0	1.0	750	$1,149	$1.53	23d	1	0.93mi
2824 Edgecombe Cir S Baltimore, MD	2.0	2.0	950	$1,475	$1.55	21d	1	0.96mi
4037 Edgewood Rd Unit 1 Baltimore, MD	2.0	1.0	726	$1,100	$1.52	43d	1	0.97mi
2619 Loyola Northway Baltimore, MD	3.0	2.0	1400	$1,995	$1.43	23d	1	0.98mi
3617 Mohawk Ave Baltimore, MD	2.0	1.0	1000	$1,595	$1.59	43d	1	1.01mi
3615 Mohawk Ave Gwynn Oak, MD	2.0	1.0	1000	$1,610	$1.61	43d	1	1.01mi
4008 Hilton Rd Unit 1st Fl Baltimore, MD	2.0	1.0	750	$1,295	$1.73	43d	1	1.01mi
4910 Poe Ave Unit 2 Baltimore, MD	2.0	1.0	750	$990	$1.32	23d	1	1.01mi
2454 W Cold Spring Ln Baltimore, MD	3.0	1.0	1200	$1,650	$1.38	23d	1	1.03mi
3508 Grantley Rd Baltimore, MD	2.0	1.0	1250	$1,350	$1.08	23d	1	1.04mi
3915 Liberty Heights Ave Gwynn Oak, MD	1.0–2.0	1.0–2.0	680	$1,345	$1.98	12d	5	1.09mi
4936 Lanier Ave Baltimore, MD	1.0–2.0	1.0	750	$1,370	$1.83	3d	5	1.09mi
3727 Milford Ave Gwynn Oak, MD	3.0	1.0	900	$1,450	$1.61	43d	1	1.09mi
4714 Greenspring Ave Baltimore, MD	2.0	1.0	890	$1,295	$1.46	43d	1	1.09mi
4016 N Rogers Ave Baltimore, MD	2.0	1.0	717	$1,195	$1.67	43d	1	1.11mi
3601 Howard Park Ave Unit 2 Baltimore, MD	3.0	1.0	1000	$1,650	$1.65	43d	1	1.19mi
2415 Loyola Southway Baltimore, MD	3.0	1.5	1200	$2,033	$1.69	43d	1	1.19mi
2530 Edgecombe Cir N Baltimore, MD	2.0–3.0	1.0	920	$1,325	$1.44	2d	4	1.19mi
5902 Cross Country Blvd Baltimore, MD	1.0–2.0	1.0–2.0	785	$1,699	$2.16	4d	6	1.26mi
5902 Cross Country Blvd Baltimore, MD	2.0	2.0	720	$1,575	$2.19	23d	1	1.26mi
2432 Everton Rd Unit 2435 A Baltimore, MD	2.0	1.5	1000	$1,500	$1.50	23d	1	1.27mi
3822 Pall Mall Rd Baltimore, MD	3.0	1.5	1320	$1,875	$1.42	43d	1	1.29mi
3807 Bowers Ave Gwynn Oak, MD	3.0	1.5	1152	$2,200	$1.91	43d	1	1.32mi

Listing history 21 events

1. 2026-06-18
   days on market $75,000 Active 29 DOM
2. 2026-06-17
   days on market $75,000 Active 28 DOM
3. 2026-06-16
   days on market $75,000 Active 27 DOM
4. 2026-06-15
   days on market $75,000 Active 26 DOM
5. 2026-06-13
   days on market $75,000 Active 24 DOM
6. 2026-06-09
   days on market $75,000 Active 20 DOM
7. 2026-06-08
   days on market $75,000 Active 19 DOM
8. 2026-06-07
   days on market $75,000 Active 18 DOM
9. 2026-06-04
   days on market $75,000 Active 15 DOM
10. 2026-06-03
    days on market $75,000 Active 14 DOM
11. 2026-06-02
    days on market $75,000 Active 13 DOM
12. 2026-06-01
    days on market $75,000 Active 12 DOM
13. 2026-05-31
    days on market $75,000 Active 11 DOM
14. 2026-05-21
    listed $75,000 Active
15. 2026-05-21
    historical $75,000
16. 2003-10-15
    soldstatus $16,514
17. 2003-08-24
    historical
18. 2003-07-29
    listed $16,500
19. 2002-07-23
    historical
20. 2002-02-23
    listed
21. 2000-08-29
    soldstatus $48,000

ⓘ 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: $917 · $76/mo
• Projected year-2 tax: $917 · $76/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 ≥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: $19,001
• − Mortgage interest: −$4,201
• − Property taxes: −$917
• − Insurance: −$375
• − Repairs & maintenance: −$1,520
• − Management: −$1,520
• − Depreciation: −$2,182
• Taxable income: $8,286
• Est. tax owed @ 24.0%: −$1,989
• After-tax cash flow: $7,011/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

+56.2% since first listed

8 events — show timeline

• 2026-05-21 Listed $75,000 BRIGHT MLS
• 2026-05-21 Coming Soon $75,000 BRIGHT MLS
• 2003-10-15 Sold (MLS) $16,514 MRIS
• 2003-08-24 Delisted — MRIS
• 2003-07-29 Listed $16,500 MRIS
• 2002-07-23 Delisted — MRIS
• 2002-02-23 Listed — MRIS
• 2000-08-29 Sold (Public Records) $48,000 Public Records

Property tax history

+5.6%/yr

Latest (2025): $917 · +50.1% YoY. Source: county tax records.