4801 Alhambra Ave · Baltimore, MD 21212

$175,000

4 bd · 2.0 ba · 1,704 sqft · Townhouse public records · 70 Days on market

Built 1924 Est $233k · 25% 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 +27.3/30.0
• ARV discount +15.0/15.0
• DSCR +9.5/10.0
• 1% rule +6.9/10.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come see this beautiful renovated 4 bedroom and 2 full bathrooms end of group row home. It is located minutes away from Morgan State University and Loyola University. This home features an open floor plan upon entering with tray ceilings, gleaming hardwood floors and cozy electric wall fireplace. There are white cabinets, granite countertops, stainless appliances, and an island topped with a wine fridge. The upper levels has wall to wall carpet with 3 bedroom and 1 full bathroom. The basement is waterproofed and fully finished with 1 bedroom, 1 full bathroom, a laundry room with a washer/dryer hookup. There is also a nice size deck off of the kitchen leading to the backyard. Please wear shoe covers to protect the new floors and carpet. Thank you.

Key facts

• Built 1924
• Listed 70 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath townhouse listed at $175k.

Deal economics

• At list price, monthly cash flow is $506 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $164k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.8% 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 (+4.7%/yr); 133 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 + 4.7% rent growth), your $49k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y ago; this cycle's ask has dropped $70k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1924 — 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 $164,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 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 1924 — 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: 1.19% ✓
• Cap rate: 9.76%
• Cash-on-cash: 12.38%
• DSCR: 1.55
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $233,448
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
715 Radnor Ave	0.08mi	4/2.0	1,600 (-6%)	2mo	$249,900	$156	84
608 Radnor Ave	0.05mi	3/2.0 (-1)	1,837 (+8%)	2mo	$219,000	$119	78
617 Willow Ave	0.20mi	3/2.0 (-1)	1,641 (-4%)	2mo	$235,000	$143	78
4744 Alhambra Ave	0.08mi	3/1.5 (-1)	1,816 (+7%)	2mo	$155,000	$85	77
4662 Kernwood Ave	0.25mi	3/1.5 (-1)	1,652 (-3%)	1mo	$240,000	$145	76
609 E 41st St	0.52mi	3/2.0 (-1)	1,728 (+1%)	1mo	$79,100	$46	68
3953 Wilsby Ave	0.65mi	4/2.0	1,716 (+1%)	1mo	$235,000	$137	67
804 Mccabe Ave	0.38mi	3/2.5 (-1)	1,620 (-5%)	1mo	$199,900	$123	66
537 Oakland Ave	0.27mi	3/1.5 (-1)	1,915 (+12%)	1mo	$220,000	$115	59
5019 Midwood Ave	0.23mi	3/2.0 (-1)	1,455 (-15%)	2mo	$198,000	$136	58
308 Woodbourne Ave	0.61mi	3/2.0 (-1)	1,565 (-8%)	1mo	$431,000	$275	52
5506 Midwood Ave	0.65mi	4/2.0	1,452 (-15%)	2mo	$255,000	$176	43

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 · 4.65% rent growth · sell at horizon

5-year hold

• IRR: 3.8%
• Equity multiple: 1.15×
• Total profit: $7,361
• Equity at exit: $26,093

10-year hold

• IRR: 14.8%
• Equity multiple: 2.28×
• Total profit: $62,796
• Equity at exit: $15,131

Cash invested: $49,000 (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 21212

• Rents YoY: 4.7%
• Active inventory: 133
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,088 high
• Mortgage (P&I): −$918
• Tax from tax record: −$153 /mo · $1,839/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $506

Break-even live

Break-even rent $1,448

Max offer price $175,000

Occupancy floor 71%

Sensitivity live

Price	-10% $605	-5% $555	+0% $506	+5% $456	+10% $407
Rent	-10% $341	-5% $423	+0% $506	+5% $588	+10% $671
Rate	-1.0pp $594	-0.5pp $550	base $506	+0.5pp $460	+1.0pp $414

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4754 Alhambra Ave Baltimore, MD	3.0	2.0	1876	$1,500	$0.80	24d	1	0.04mi
514 Radnor Ave Baltimore, MD	3.0	1.5	1575	$1,500	$0.95	45d	1	0.12mi
804 Radnor Ave Baltimore, MD	3.0	1.0	1654	$2,000	$1.21	44d	1	0.13mi
5001 Govane Ave Baltimore, MD	5.0	2.5	1200	$1,800	$1.50	24d	1	0.17mi
531 Willow Ave Unit Na Baltimore, MD	4.0	1.0	1300	$1,800	$1.38	21d	1	0.17mi
4407 Old York Rd Baltimore, MD	3.0	1.5	1356	$1,574	$1.16	44d	1	0.23mi
4407 Old York Rd Baltimore, MD	3.0	1.5	1356	$1,574	$1.16	21d	1	0.23mi
543 Chateau Ave Baltimore, MD	3.0	2.0	1152	$1,900	$1.65	5d	1	0.25mi
510 Winston Ave Baltimore, MD	4.0	2.0	1600	$2,800	$1.75	21d	1	0.25mi
706 E 43rd St Baltimore, MD	4.0	1.5	1596	$1,899	$1.19	2d	1	0.34mi
711 1/2 McCabe Ave Baltimore, MD	4.0	3.0	1204	$2,350	$1.95	5d	1	0.36mi
720 Springfield Ave Baltimore, MD	3.0	1.0	1160	$2,000	$1.72	44d	1	0.39mi
5200 Ready Ave Baltimore, MD	3.0	1.5	1116	$1,950	$1.75	4d	1	0.43mi
1224 Winston Ave Baltimore, MD	3.0	2.0	1248	$2,100	$1.68	18d	1	0.52mi
513 E 41st St Baltimore, MD	4.0	1.5	1620	$1,900	$1.17	44d	1	0.54mi
1221 Glenwood Ave Baltimore, MD	3.0	2.0	1390	$2,595	$1.87	44d	1	0.62mi
1008 Tunbridge Rd Baltimore, MD	3.0	2.0	1732	$2,050	$1.18	24d	1	0.73mi
5204 Kelway Rd Baltimore, MD	3.0	2.0	1666	$2,350	$1.41	24d	1	0.74mi
5622 Midwood Ave Baltimore, MD	3.0	2.0	1452	$2,300	$1.58	44d	1	0.84mi
3721 Ellerslie Ave Baltimore, MD	1.0–3.0	1.0–2.0	894	$1,603	$1.79	2d	1	0.84mi
4006 Loch Raven Blvd Baltimore, MD	3.0	2.5	2016	$2,695	$1.34	18d	1	0.89mi
1545 E Cold Spring Ln Baltimore, MD	4.0	2.0	1240	$2,000	$1.61	44d	1	0.93mi
828 Saint Dunstans Rd Baltimore, MD	3.0	2.0	1544	$2,000	$1.30	24d	1	0.95mi
1539 Ralworth Rd Baltimore, MD	3.0	2.0	1580	$1,950	$1.23	15d	1	0.98mi
5520 Sagra Rd Baltimore, MD	3.0	1.5	1650	$1,900	$1.15	44d	1	1.00mi
1617 Argonne Dr Baltimore, MD	4.0	2.0	1200	$2,550	$2.12	44d	1	1.00mi
3529 Greenmount Ave Baltimore, MD	3.0	2.0	1316	$1,575	$1.20	44d	1	1.07mi
724 E 35th St Baltimore, MD	3.0	1.5	1368	$2,000	$1.46	15d	1	1.12mi
917 Reverdy Rd Unit A Baltimore, MD	3.0	1.0	1200	$2,100	$1.75	44d	1	1.12mi
500 W University Pkwy Baltimore, MD	3.0	1.0–2.0	955	$3,020	$3.16	2d	60	1.15mi
3421 University Pl Baltimore, MD	5.0	2.0	1960	$3,500	$1.79	24d	1	1.18mi
1 E University Pkwy Baltimore, MD	1.0–3.0	1.0–2.0	1045	$2,500	$2.39	5d	2	1.20mi
3501 Saint Paul St Baltimore, MD	3.0	1.0–2.5	916	$2,700	$2.95	2d	172	1.27mi
1502 Fernley Rd Baltimore, MD	3.0	2.0	1350	$2,800	$2.07	44d	1	1.27mi
348 E University Pkwy Baltimore, MD	4.0	2.0	1809	$2,400	$1.33	44d	1	1.27mi
3222 Ellerslie Ave Baltimore, MD	4.0	1.5	1550	$1,950	$1.26	44d	1	1.34mi
1020 Dartmouth Glen Way Baltimore, MD	3.0	2.5	1152	$2,250	$1.95	24d	1	1.35mi
6008 Clearspring Rd Baltimore, MD	4.0	2.5	1758	$3,600	$2.05	24d	1	1.35mi
1804 Winford Rd Baltimore, MD	3.0	1.5	1600	$2,100	$1.31	24d	1	1.36mi
616 Montpelier St Baltimore, MD	3.0	1.0	1150	$1,750	$1.52	11d	1	1.43mi

Listing history 22 events

1. 2026-05-14
   price $175,000
2. 2026-01-08
   status Pending
3. 2026-01-06
   historical
4. 2025-12-17
   status Active
5. 2025-12-07
   status Pending
6. 2025-11-17
   price $229,000
7. 2025-10-27
   price $235,000
8. 2025-10-17
   listed $245,000 Active
9. 2025-10-13
   historical $245,000
10. 2025-10-12
    historical $1,995
11. 2025-09-11
    price $1,995
12. 2025-08-29
    price $2,195
13. 2025-08-29
    historical $2,295
14. 2025-08-13
    price $2,295
15. 2025-07-31
    listed $2,500
16. 2025-06-19
    listed $3,000
17. 2022-05-20
    soldstatus $225,000
18. 2022-02-28
    soldstatus $225,000 Closed 756-char remark

    Show marketing remark (756 chars)

    Come see this beautiful renovated 4 bedroom and 2 full bathrooms end of group row home. It is located minutes away from Morgan State University and Loyola University. This home features an open floor plan upon entering with tray ceilings, gleaming hardwood floors and cozy electric wall fireplace. There are white cabinets, granite countertops, stainless appliances, and an island topped with a wine fridge. The upper levels has wall to wall carpet with 3 bedroom and 1 full bathroom. The basement is waterproofed and fully finished with 1 bedroom, 1 full bathroom, a laundry room with a washer/dryer hookup. There is also a nice size deck off of the kitchen leading to the backyard. Please wear shoe covers to protect the new floors and carpet. Thank you.

19. 2022-02-12
    status Pending 756-char remark

    Show marketing remark (756 chars)

    Come see this beautiful renovated 4 bedroom and 2 full bathrooms end of group row home. It is located minutes away from Morgan State University and Loyola University. This home features an open floor plan upon entering with tray ceilings, gleaming hardwood floors and cozy electric wall fireplace. There are white cabinets, granite countertops, stainless appliances, and an island topped with a wine fridge. The upper levels has wall to wall carpet with 3 bedroom and 1 full bathroom. The basement is waterproofed and fully finished with 1 bedroom, 1 full bathroom, a laundry room with a washer/dryer hookup. There is also a nice size deck off of the kitchen leading to the backyard. Please wear shoe covers to protect the new floors and carpet. Thank you.

20. 2022-02-01
    historical Active Under Contract 756-char remark

    Show marketing remark (756 chars)

    Come see this beautiful renovated 4 bedroom and 2 full bathrooms end of group row home. It is located minutes away from Morgan State University and Loyola University. This home features an open floor plan upon entering with tray ceilings, gleaming hardwood floors and cozy electric wall fireplace. There are white cabinets, granite countertops, stainless appliances, and an island topped with a wine fridge. The upper levels has wall to wall carpet with 3 bedroom and 1 full bathroom. The basement is waterproofed and fully finished with 1 bedroom, 1 full bathroom, a laundry room with a washer/dryer hookup. There is also a nice size deck off of the kitchen leading to the backyard. Please wear shoe covers to protect the new floors and carpet. Thank you.

21. 2022-01-16
    listed $220,000 Active 756-char remark

    Show marketing remark (756 chars)

    Come see this beautiful renovated 4 bedroom and 2 full bathrooms end of group row home. It is located minutes away from Morgan State University and Loyola University. This home features an open floor plan upon entering with tray ceilings, gleaming hardwood floors and cozy electric wall fireplace. There are white cabinets, granite countertops, stainless appliances, and an island topped with a wine fridge. The upper levels has wall to wall carpet with 3 bedroom and 1 full bathroom. The basement is waterproofed and fully finished with 1 bedroom, 1 full bathroom, a laundry room with a washer/dryer hookup. There is also a nice size deck off of the kitchen leading to the backyard. Please wear shoe covers to protect the new floors and carpet. Thank you.

22. 2021-09-14
    soldstatus $45,000

ⓘ 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: $1,839 · $153/mo
• Projected year-2 tax: $1,873 · $156/mo
• Expected delta: +$34/yr (+$3/mo · 1.9%)

ⓘ 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: $25,056
• − Mortgage interest: −$9,803
• − Property taxes: −$1,839
• − Insurance: −$875
• − Repairs & maintenance: −$2,004
• − Management: −$2,004
• − Depreciation: −$5,091
• Taxable income: $3,439
• Est. tax owed @ 24.0%: −$825
• After-tax cash flow: $5,242/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): 33,974
• Household income: $96,685
• Rent vs Own: 31.2% rent · 68.8% own
• Severe rent burden: 769.0

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 49% Black 35% Two or more races 9% Hispanic / Latino 7% Asian 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1%
• Common ancestry: Romanian 3% Italian 2% Slovak 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 87% English-only · Spanish 5% Other Indo-European 2% French/Haitian/Cajun 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: ▼ -392.44%
• Current HPI: 267.4569
• Rent YoY: ▲ 4.65%
• 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

+288.9% since first listed

22 events — show timeline

• 2026-05-14 Price Changed $175,000 BRIGHT MLS
• 2026-01-08 Pending — BRIGHT MLS
• 2026-01-06 Listing Removed — BRIGHT MLS
• 2025-12-17 Relisted — BRIGHT MLS
• 2025-12-07 Pending — BRIGHT MLS
• 2025-11-17 Price Changed $229,000 BRIGHT MLS
• 2025-10-27 Price Changed $235,000 BRIGHT MLS
• 2025-10-17 Listed $245,000 BRIGHT MLS
• 2025-10-13 Coming Soon $245,000 BRIGHT MLS
• 2025-10-12 Rental Removed $1,995 RENTLY
• 2025-09-11 Price Changed $1,995 RENTLY
• 2025-08-29 Price Changed $2,195 RENTLY
• 2025-08-29 Rental Removed $2,295 RENTSPREE
• 2025-08-13 Price Changed $2,295 RENTLY
• 2025-07-31 Listed for Rent $2,500 RENTLY
• 2025-06-19 Listed for Rent $3,000 RENTSPREE
• 2022-05-20 Sold (Public Records) $225,000 Public Records
• 2022-02-28 Sold (MLS) $225,000 BRIGHT MLS
• 2022-02-12 Pending — BRIGHT MLS
• 2022-02-01 Contingent — BRIGHT MLS
• 2022-01-16 Listed $220,000 BRIGHT MLS
• 2021-09-14 Sold (Public Records) $45,000 Public Records

Property tax history

-2.8%/yr

Latest (2025): $1,839 · -9.1% YoY. Source: county tax records.