5924 Glen Falls Ave · Baltimore, MD 21206

$200,000

3 bd · 2.0 ba · 1,652 sqft · Townhouse public records · 1 Days on market

Built 1948 Est $253k · 21% under

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Why this score? — see what drove the C+ 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 +23.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.5/10.0
• 1% rule +6.1/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

FULLY RENOVATED ROWHOME WITH CHEFS KITCHEN & PARKING PAD! Hw floors & crown molding throughout main level, spacious LR, separate dining area, Chef's kitchen w/ granite counters, ss appliances, & tile back splash, 2nd level w/ 3 bedrooms & 1 full bath, finished lower level with family room or 4th bedroom, full bath, & laundry room & large parking pad for easy entry - no need to use front steps!

Key facts

• Covered front porch
• Private parking pad
• Walk-out access

Tags

• HARDWOOD FLOORS
• STAINLESS STEEL APPLIANCES
• GRANITE COUNTERTOPS
• COVERED FRONT PORCH
• WALK-OUT ACCESS
• PRIVATE PARKING PAD

Property features AI

Finance

• Other: Finished and below-grade areas recorded by assessor

Exterior

• Parking: Concrete driveway; Driveway/off-street parking (1 driveway space; 1 total garage/parking space listed)
• Security: Secure storage
• Utilities: Public water; Public sewer
• Home design: Interior townhouse/rowhouse; Fee simple ownership; Good condition
• Construction: Brick construction; Built-up roof; Concrete perimeter foundation; Combination, partially finished walkout basement
• Exterior features: Porch(es); Sidewalks

Interior

• Kitchen: Dishwasher; Icemaker; Microwave; Gas oven/range; Refrigerator; Stainless steel appliances; Upgraded countertops; Breakfast area adjacent to kitchen
• Bedrooms: Three bedrooms on the upper level
• Flooring: Hardwood floors; Carpet; Tile/brick
• Bathrooms: Two full bathrooms (one on upper level, one on lower level)
• Heating & cooling: Forced air heating; Natural gas heating and hot water; Central air conditioning (electric)
• Interior features: Breakfast area; Ceiling fans; Chair railings; Crown moldings; Dining area; Upgraded countertops; Drywall walls and ceilings; Secure storage
• Laundry & utility: Washer and dryer in unit (basement laundry); Water heater; Humidifier

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $200k.

Deal economics

• At list price, monthly cash flow is $363 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Cap rate 8.5% 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: 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: Glenmount Elementary/Middle (math 6% / reading 15%, grade F, #590 of 860 statewide, top 70%, 657 students, 76% FRL); Reginald F. Lewis High (math 12% / reading 8%, grade F, #202 of 222 statewide, top 92%, 577 students, 73% FRL) — zoned schools at 74% FRL track the district average.
• Market conditions: Rents rising fast (+4.4%/yr); 173 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• This rent runs 41% of the median local income ($65k/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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 22y ago; this cycle's ask is 60% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $110k; list at $200k implies a 82% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — 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 $200,000

Questions for the listing agent

1. Built in 1948 — 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: 1.11% ✓
• Cap rate: 8.47%
• Cash-on-cash: 7.78%
• DSCR: 1.35
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $252,756
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3827 Glenarm Ave	0.19mi	3/1.5	1,536 (-7%)	3mo	$245,000	$160	75
6018 Belle Vista Ave	0.26mi	3/1.5	1,536 (-7%)	4mo	$245,000	$160	71
3825 Bayonne Ave	0.31mi	3/2.0	1,532 (-7%)	6mo	$240,000	$157	69
6119 Elinore Ave	0.30mi	3/2.0	1,524 (-8%)	8mo	$265,000	$174	67
6226 Walther Ave	0.39mi	4/2.0 (+1)	1,541 (-7%)	1mo	$300,000	$195	65
5823 Benton Heights Ave	0.14mi	3/1.5	1,440 (-13%)	7mo	$170,000	$118	64
4705 Bayonne Ave	0.55mi	3/1.5	1,760 (+6%)	1mo	$190,000	$108	61
4227 Berger Ave	0.56mi	3/2.0	1,519 (-8%)	3mo	$98,123	$65	58
3723 Frankford Ave	0.70mi	4/2.0 (+1)	1,634 (-1%)	8mo	$229,900	$141	54
3708 Keene Ave	0.47mi	3/1.0	1,452 (-12%)	1mo	$220,000	$152	53
3720 Evergreen Ave	0.40mi	3/1.5	1,404 (-15%)	7mo	$215,000	$153	49
5912 Willet Ave	0.46mi	2/1.0 (-1)	1,882 (+14%)	1mo	$195,000	$104	46

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 · 4.43% rent growth · sell at horizon

5-year hold

• IRR: -2.8%
• Equity multiple: 0.89×
• Total profit: $-6,004
• Equity at exit: $29,821

10-year hold

• IRR: 8.4%
• Equity multiple: 1.69×
• Total profit: $38,411
• Equity at exit: $17,292

Cash invested: $56,000 (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 21206

• Rents YoY: 4.4%
• Active inventory: 173
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,223 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$261 /mo · $3,129/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$467
• Net cashflow: $363

Break-even live

Break-even rent $1,763

Max offer price $200,000

Occupancy floor 79%

Sensitivity live

Price	-10% $476	-5% $420	+0% $363	+5% $306	+10% $250
Rent	-10% $187	-5% $275	+0% $363	+5% $451	+10% $539
Rate	-1.0pp $464	-0.5pp $414	base $363	+0.5pp $311	+1.0pp $258

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4111 Century Rd Baltimore, MD	3.0	1.5	1432	$2,500	$1.75	44d	1	0.07mi
4308 Hamilton Ave Baltimore, MD	2.0	1.0	1110	$1,416	$1.28	24d	1	0.43mi
5632 Belair Rd Baltimore, MD	3.0	1.5	1260	$2,100	$1.67	24d	1	0.44mi
6410 Walther Ave Baltimore, MD	2.0	1.0–2.0	1195	$1,995	$1.67	44d	7	0.67mi
3510 Hamilton Ave Baltimore, MD	3.0	2.5	2100	$2,300	$1.10	24d	1	0.69mi
3721 Frankford Ave Baltimore, MD	3.0	2.0	1600	$2,050	$1.28	44d	1	0.71mi
3412 Fleetwood Ave Baltimore, MD	3.0	2.5	1620	$2,195	$1.35	44d	1	0.84mi
5307 Valiquet Ave Unit A Baltimore, MD	2.0	1.0	1672	$1,375	$0.82	44d	1	0.87mi
3802 Biddison Ln Baltimore, MD	4.0	1.5	1443	$2,024	$1.40	12d	1	0.89mi
5938 Clayton Ave Baltimore, MD	4.0	2.0	1296	$2,872	$2.22	17d	1	0.96mi
4023 Belwood Ave Baltimore, MD	3.0	1.0	1080	$1,995	$1.85	44d	1	0.97mi
3514 Ailsa Ave Baltimore, MD	3.0	2.0	1800	$2,200	$1.22	44d	1	1.00mi
4104 Parkwood Ave Baltimore, MD	3.0	1.0	1224	$2,800	$2.29	24d	1	1.04mi
3158 Woodring Ave Parkville, MD	3.0	1.5	1500	$1,950	$1.30	24d	1	1.11mi
4924 Frankford Ave Baltimore, MD	4.0	2.0	1176	$2,600	$2.21	24d	1	1.16mi
3309 Southern Ave Unit 2 Baltimore, MD	2.0	1.0	1200	$1,600	$1.33	13d	1	1.23mi
29 E Elm Ave Baltimore, MD	3.0	2.0	2052	$3,000	$1.46	5d	1	1.23mi
4718 Blue Ridge Ave Baltimore, MD	4.0	3.0	1744	$2,400	$1.38	12d	1	1.24mi
2805 Hamilton Ave Baltimore, MD	4.0	2.0	1416	$2,300	$1.62	44d	1	1.25mi
4517 Woodlea Ave Baltimore, MD	2.0	2.0	1326	$1,900	$1.43	3d	1	1.27mi
5313 Todd Ave Baltimore, MD	3.0	1.5	1280	$1,800	$1.41	17d	1	1.30mi
2900 Ailsa Ave Apt 2 Baltimore, MD	3.0	1.0	1300	$1,750	$1.35	5d	1	1.34mi
2804 Christopher Ave Baltimore, MD	3.0	2.5	1280	$2,200	$1.72	24d	1	1.35mi
35-C Mopec Cir Nottingham, MD	2.0	1.0	1100	$1,445	$1.31	3d	10	1.37mi
2911 Shirey Ave Baltimore, MD	4.0	2.0	1680	$2,500	$1.49	21d	1	1.39mi
5253 Cedgate Rd Unit 1 Baltimore, MD	3.0	1.5	1152	$2,200	$1.91	44d	1	1.40mi
5248 Darien Rd Baltimore, MD	3.0	1.0	1584	$2,100	$1.33	44d	1	1.41mi
2807 Shirey Ave Baltimore, MD	4.0	3.0	1190	$2,500	$2.10	15d	1	1.44mi
8133 Bartholomew Ct Baltimore, MD	3.0	2.5	1600	$2,700	$1.69	24d	1	1.46mi

Listing history 3 events

1. 2026-06-18
   status $200,000 Active 1 DOM
2. 2026-06-17
   remarks 695-char remark
3. 2026-06-17
   listed $200,000 Coming Soon 1 DOM

ⓘ 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: $3,129 · $261/mo
• Projected year-2 tax: $3,129 · $261/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 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,673
• − Mortgage interest: −$11,203
• − Property taxes: −$3,129
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,134
• − Management: −$2,134
• − Depreciation: −$5,818
• Taxable income: $1,255
• Est. tax owed @ 24.0%: −$301
• After-tax cash flow: $4,055/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): 48,902
• Household income: $64,531
• Rent vs Own: 46.8% rent · 53.2% own
• Severe rent burden: 2317.0

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 20% Two or more races 3% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 3% Ukrainian 1%
• Foreign-born: 8% · Canada
• Languages at home: 92% English-only · Spanish 2% Arabic 2% 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: ▼ -191.83%
• Current HPI: 284.5645
• Rent YoY: ▲ 4.43%
• 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

+135.3% since first listed

27 events — show timeline

• 2026-06-16 Coming Soon $200,000 BRIGHT MLS
• 2014-06-06 Sold (Public Records) $110,000 Public Records
• 2014-05-30 Sold (MLS) $110,000 MRIS
• 2014-04-09 Pending — MRIS
• 2014-02-27 Price Changed $119,900 MRIS
• 2013-11-26 Relisted — MRIS
• 2013-11-04 Pending — MRIS
• 2013-10-11 Listed $124,900 MRIS
• 2013-10-09 Delisted — MRIS
• 2013-08-29 Listed — MRIS
• 2013-06-05 Delisted — MRIS
• 2013-05-30 Sold (MLS) $47,000 BRIGHT MLS
• 2013-05-30 Sold (MLS) $47,000 MRIS
• 2013-04-29 Listing Removed — BRIGHT MLS
• 2013-04-22 Pending — MRIS
• 2013-03-06 Listed $63,000 MRIS
• 2013-03-05 Listed $63,000 BRIGHT MLS
• 2008-06-11 Sold (Public Records) $160,000 Public Records
• 2008-06-11 Sold (Public Records) $160,000 Public Records
• 2008-05-28 Sold (MLS) $160,000 MRIS
• 2008-04-25 Delisted — MRIS
• 2008-04-15 Listed $160,000 MRIS
• 2004-06-14 Sold (Public Records) $90,000 Public Records
• 2004-06-14 Sold (Public Records) $90,000 Public Records
• 2004-05-27 Sold (MLS) $90,000 MRIS
• 2004-04-30 Delisted — MRIS
• 2004-04-28 Listed $85,000 MRIS

Property tax history

+0.5%/yr

Latest (2025): $3,129 · +5.2% YoY. Source: county tax records.