3906 Grantley Rd · Baltimore, MD 21215

$139,000

3 bd · 1.0 ba · 1,178 sqft · Townhouse public records · 28 Days on market

Built 1955 Est $123k · 13% over ↓ 7% since listing

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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 +19.8/30.0
• DSCR +6.3/10.0
• 1% rule +6.0/10.0
• Livability +3.8/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• ARV discount +1.4/15.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

$10,000 Price Improvement! Welcome to 3906 Grantley Road, a promising opportunity in the heart of Baltimore! This 3-bedroom, 1.5-bath rowhome is nestled in a well-established neighborhood known for its long-time residents and strong sense of community. Priced to sell and offered "AS IS", this property is perfect for a buyer with vision. Whether you're a first-time homebuyer looking to customize your dream home using a 203(k) renovation loan, or an investor seeking your next value-add project, this home offers incredible potential. With solid bones and a desirable location, this is your chance to create something special while building equity. Don’t miss out on this opportuni

Key facts

• Built 1955
• Listed 28 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $139k.

Deal economics

• At list price, monthly cash flow is $165 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Recommended offer: $137k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 6.0% in Baltimore — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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); 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 35% 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 $961 of loan paydown is wiped out by about $4k 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 28 days — a 2% lower offer ($137k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1955 — 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 $136,915 (1.5% below list)

Questions for the listing agent

1. Built in 1955 — 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. 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?
6. 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.
7. 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.
8. 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: 1.10% ✓
• Cap rate: 7.72%
• Cash-on-cash: 5.09%
• DSCR: 1.23
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $122,512
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3906 Grantley Rd	0.00mi	3/1.5	1,178 (0%)	1mo	$127,000	$108	97
3701 Columbus Dr	0.36mi	3/1.0	1,200 (+2%)	4mo	$108,000	$90	77
3709 Columbus Dr	0.39mi	3/1.5	1,200 (+2%)	0mo	$133,900	$112	76
3716 Columbus Dr	0.41mi	4/2.0 (+1)	1,200 (+2%)	3mo	$242,000	$202	66
3912 Reisterstown Rd	0.44mi	3/1.5	1,100 (-7%)	1mo	$55,000	$50	66
3741 Boarman Ave	0.37mi	3/1.0	1,280 (+9%)	3mo	$115,000	$90	66
3823 Cottage Ave	0.65mi	3/1.0	1,140 (-3%)	3mo	$118,000	$104	62
3841 Boarman Ave	0.46mi	3/2.0	1,249 (+6%)	5mo	$52,250	$42	60
3918 Dolfield Ave	0.70mi	3/1.5	1,216 (+3%)	5mo	$200,000	$164	55
3824 Beehler Ave	0.58mi	3/1.5	1,080 (-8%)	3mo	$88,000	$81	55
2644 Oswego Ave	0.57mi	3/2.5	1,299 (+10%)	5mo	$205,000	$158	46
3306 N Hilton St #202	0.64mi	2/1.0 (-1)	1,044 (-11%)	3mo	$41,000	$39	44

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: -9.0%
• Equity multiple: 0.67×
• Total profit: $-12,835
• Equity at exit: $20,725

10-year hold

• IRR: -0.4%
• Equity multiple: 0.97×
• Total profit: $-991
• Equity at exit: $12,018

Cash invested: $38,920 (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: 7.6×

Monthly cashflow live

• Estimated rent: $1,523 high
• Mortgage (P&I): −$729
• Tax from tax record: −$251 /mo · $3,012/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $165

Break-even live

Break-even rent $1,314

Max offer price $139,000

Occupancy floor 84%

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4008 Hilton Rd Unit 1st Fl Baltimore, MD	2.0	1.0	750	$1,295	$1.73	43d	1	0.23mi
4037 Edgewood Rd Unit 1 Baltimore, MD	2.0	1.0	726	$1,100	$1.52	43d	1	0.24mi
4230 Towanda Ave Baltimore, MD	3.0	2.0	1400	$1,800	$1.29	17d	1	0.33mi
3508 Grantley Rd Baltimore, MD	2.0	1.0	1250	$1,350	$1.08	23d	1	0.37mi
3784 Columbus Dr Baltimore, MD	4.0	2.0	1250	$2,200	$1.76	23d	1	0.54mi
3701 Garrison Blvd Unit 3 Baltimore, MD	2.0	1.0	820	$1,399	$1.71	23d	1	0.57mi
3600 Garrison Blvd Unit T2 Baltimore, MD	2.0	1.0	750	$1,149	$1.53	23d	1	0.62mi
3600 Garrison Blvd Apt T1 Baltimore, MD	2.0	1.0	800	$1,125	$1.41	3d	1	0.62mi
2619 Loyola Northway Baltimore, MD	3.0	2.0	1400	$1,995	$1.43	23d	1	0.66mi
3904 Penhurst Ave Baltimore, MD	2.0	1.0	760	$1,175	$1.55	43d	1	0.68mi
3822 Pall Mall Rd Baltimore, MD	3.0	1.5	1320	$1,875	$1.42	43d	1	0.68mi
3735 Manchester Ave Baltimore, MD	2.0	1.0	1000	$1,350	$1.35	4d	1	0.68mi
2915 Oakford Ave Baltimore, MD	3.0	2.0	1102	$1,600	$1.45	17d	1	0.73mi
4828 Beaufort Ave Baltimore, MD	2.0	2.5	1200	$1,850	$1.54	23d	1	0.76mi
2415 Loyola Southway Baltimore, MD	3.0	1.5	1200	$2,033	$1.69	43d	1	0.78mi
3915 Liberty Heights Ave Gwynn Oak, MD	1.0–2.0	1.0–2.0	680	$1,345	$1.98	12d	5	0.78mi
2454 W Cold Spring Ln Baltimore, MD	3.0	1.0	1200	$1,650	$1.38	23d	1	0.81mi
4010 Fernhill Ave Unit 2 Baltimore, MD	2.0	1.0	1100	$1,500	$1.36	43d	1	0.84mi
2824 Edgecombe Cir S Baltimore, MD	2.0	2.0	950	$1,475	$1.55	21d	1	0.85mi
2905 Garrison Blvd Unit 21 Baltimore, MD	2.0	1.0	800	$1,175	$1.47	43d	1	0.88mi
3908 Groveland Ave Apt F Baltimore, MD	2.0	1.0	815	$1,695	$2.08	43d	1	0.89mi
5000 Litchfield Ave #1 Baltimore, MD	2.0	1.0	1100	$1,100	$1.00	43d	1	0.89mi
3016 Thorndale Ave Baltimore, MD	1.0–3.0	1.0	700	$1,200	$1.71	4d	14	0.96mi
3403 Carlisle Ave Apt 1 Baltimore, MD	2.0	1.0	1100	$1,600	$1.45	11d	1	0.97mi
2530 Edgecombe Cir N Baltimore, MD	2.0–3.0	1.0	920	$1,325	$1.44	2d	4	1.02mi
3001 Carlisle Ave Baltimore, MD	3.0	1.0	1024	$1,300	$1.27	43d	1	1.02mi
2738 N Longwood St Baltimore, MD	3.0	1.0	1024	$1,399	$1.37	43d	1	1.03mi
2742 N Rosedale St Baltimore, MD	3.0	1.0	1024	$1,350	$1.32	43d	2	1.04mi
2700 Roslyn Ave Unit 5 Baltimore, MD	2.0	1.0	800	$1,500	$1.88	17d	1	1.07mi
2700 Roslyn Ave Unit 8 Baltimore, MD	2.0	1.0	800	$1,500	$1.88	4d	1	1.07mi
3615 Mohawk Ave Gwynn Oak, MD	2.0	1.0	1000	$1,610	$1.61	43d	1	1.08mi
3617 Mohawk Ave Baltimore, MD	2.0	1.0	1000	$1,595	$1.59	43d	1	1.08mi
4714 Greenspring Ave Baltimore, MD	2.0	1.0	890	$1,295	$1.46	43d	1	1.09mi
2601 Garrison Blvd Baltimore, MD	2.0	1.0	750	$1,175	$1.57	21d	2	1.10mi
3416 Alto Rd Unit 21 Baltimore, MD	2.0	1.0	700	$1,175	$1.68	43d	1	1.10mi
3028 Hanlon Ave Baltimore, MD	3.0	2.0	1200	$1,711	$1.43	23d	1	1.16mi
2910 Reisterstown Rd Baltimore, MD	1.0–3.0	1.0	950	$1,414	$1.49	14d	4	1.20mi
2908 Reisterstown Rd Baltimore, MD	2.0	1.0	750	$1,299	$1.73	43d	1	1.20mi
4309 Norfolk Ave Unit 1st Floor Baltimore, MD	2.0	1.0	1470	$1,500	$1.02	11d	1	1.20mi
2906 Reisterstown Rd Baltimore, MD	2.0	1.0	750	$1,299	$1.73	43d	1	1.21mi

Listing history 4 events

1. 2026-04-23
   status Pending
2. 2026-04-07
   price $139,000
3. 2026-03-26
   listed $149,000 Active
4. 2026-03-24
   historical $149,000

ⓘ 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: $3,012 · $251/mo
• Projected year-2 tax: $3,012 · $251/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 6/10 Major 27% 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: $18,274
• − Mortgage interest: −$7,786
• − Property taxes: −$3,012
• − Insurance: −$695
• − Repairs & maintenance: −$1,462
• − Management: −$1,462
• − Depreciation: −$4,044
• Taxable loss: −$187
• Est. tax savings @ 24.0%: +$45
• After-tax cash flow: $2,027/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

-6.7% since first listed

4 events — show timeline

• 2026-04-23 Pending — BRIGHT MLS
• 2026-04-07 Price Changed $139,000 BRIGHT MLS
• 2026-03-26 Listed $149,000 BRIGHT MLS
• 2026-03-24 Coming Soon $149,000 BRIGHT MLS

Property tax history

+1.3%/yr

Latest (2025): $3,012 · +4.8% YoY. Source: county tax records.