4222 Woodlea Ave · Baltimore, MD 21206

$134,900

3 bd · 1.5 ba · 1,064 sqft · Townhouse public records · 38 Days on market

Built 1929 3,250 sqft lot $127/sqft · 8% below area Est $147k · 8% 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 +11.1/15.0
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• 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

Semi-detached true three bedroom Home close to 695 and downtown. Has a nice back yard and a deck. Some of the original character remains. Will be a wonderfull house for someone again. At these prices there is no need to keep renting, take advantage of the market and buy low.

Key facts

• Herring run park
• Convenient location
• Built 1929

Tags

• HERRING RUN PARK
• MAJOR COMMUTER ROUTES
• CONVENIENT LOCATION

Property features AI

Finance

• Other: Ownership is fee simple; Assessor-reported finished above-grade area and below-grade unfinished area

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; Natural gas for hot water; Oil heating
• Home design: Semi-detached property
• Construction: Block foundation; Built-up roof; Above-grade and below-grade structures
• Exterior features: Public water and public sewer

Interior

• Bedrooms: Three bedrooms on the first upper level
• Bathrooms: One full bathroom on the upper level; One half bathroom on the main level
• Heating & cooling: Radiator heat; Oil-fired heating fuel; Natural gas hot water
• Interior features: Basement with connecting stairway, outside entrance, unfinished

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $135k.

Deal economics

• At list price, monthly cash flow is $546 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $131k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.2% 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 (+4.4%/yr); 173 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); 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• This rent runs 35% 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 $933 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.
• At projected returns (-3.0% appreciation + 4.4% rent growth), your $38k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 27y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $37k; list at $135k implies a 265% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1929 — 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 $130,853 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.41% ✓
• Cap rate: 11.15%
• Cash-on-cash: 17.36%
• DSCR: 1.77
• GRM: 5.9

CMA / ARV

• ARV (median comp): $146,568
• List price: $134,900
• Delta: -7.96%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4218 Seidel Ave	0.45mi	3/1.0	1,008 (-5%)	2mo	$144,900	$144	66
4345 Roberton Ave	0.57mi	3/1.5	1,096 (+3%)	3mo	$125,000	$114	66
4024 Eierman Ave	0.60mi	3/2.0	1,136 (+7%)	7mo	$75,000	$66	53
4726 Chatford Ave	0.65mi	2/2.0 (-1)	1,120 (+5%)	2mo	$164,000	$146	52
4603 Chatford Ave	0.66mi	3/1.5	1,170 (+10%)	1mo	$205,000	$175	52
4335 Greenhill Ave	0.58mi	3/1.0	1,174 (+10%)	5mo	$85,500	$73	50
4628 Parkside Dr	0.73mi	3/1.5	1,152 (+8%)	6mo	$161,000	$140	47
4008 Eierman Ave	0.61mi	2/1.0 (-1)	1,136 (+7%)	8mo	$53,500	$47	47
4217 Berger Ave	0.61mi	3/2.5	1,168 (+10%)	7mo	$185,000	$158	45
4304 Roberton Ave	0.62mi	3/1.5	1,196 (+12%)	6mo	$122,600	$103	45
4316 Shamrock Ave	0.62mi	3/2.0	1,200 (+13%)	7mo	$209,000	$174	42
5026 Edgar Ter	0.73mi	3/2.0	1,200 (+13%)	5mo	$245,000	$204	38

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: 10.4%
• Equity multiple: 1.42×
• Total profit: $15,765
• Equity at exit: $20,114

10-year hold

• IRR: 20.6%
• Equity multiple: 2.87×
• Total profit: $70,468
• Equity at exit: $11,664

Cash invested: $37,772 (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: 5.9×

Monthly cashflow live

• Estimated rent: $1,906 high
• Mortgage (P&I): −$707
• Tax from tax record: −$195 /mo · $2,344/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$400
• Net cashflow: $546

Break-even live

Break-even rent $1,214

Max offer price $134,900

Occupancy floor 66%

Sensitivity live

Price	-10% $623	-5% $585	+0% $546	+5% $508	+10% $470
Rent	-10% $396	-5% $471	+0% $546	+5% $622	+10% $697
Rate	-1.0pp $614	-0.5pp $581	base $546	+0.5pp $511	+1.0pp $476

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4517 Woodlea Ave Baltimore, MD	2.0	2.0	1326	$1,900	$1.43	3d	1	0.22mi
4104 Parkwood Ave Baltimore, MD	3.0	1.0	1224	$2,800	$2.29	24d	1	0.22mi
4023 Belwood Ave Baltimore, MD	3.0	1.0	1080	$1,995	$1.85	44d	1	0.30mi
4007 Biddison Ln Apt 1 Baltimore, MD	2.0	1.0	1000	$1,279	$1.28	18d	1	0.35mi
4409 Moravia Rd Baltimore, MD	2.0	1.0	861	$1,385	$1.61	44d	3	0.35mi
4400 Asbury Ave Baltimore, MD	3.0	2.0	1270	$1,995	$1.57	5d	1	0.47mi
3802 Biddison Ln Baltimore, MD	4.0	1.5	1443	$2,024	$1.40	12d	1	0.52mi
4320 Sheldon Ave Baltimore, MD	3.0	1.5	1280	$1,800	$1.41	24d	1	0.53mi
4024 Eierman Ave Baltimore, MD	3.0	2.0	1136	$1,825	$1.61	44d	1	0.56mi
4901 Gunther Ave Baltimore, MD	1.0–3.0	1.0–2.0	742	$1,463	$1.97	3d	1	0.58mi
5424 Belle Vista Ave Baltimore, MD	2.0	1.0	932	$1,300	$1.39	44d	1	0.68mi
4924 Frankford Ave Baltimore, MD	4.0	2.0	1176	$2,600	$2.21	24d	1	0.76mi
5632 Belair Rd Baltimore, MD	3.0	1.5	1260	$2,100	$1.67	24d	1	0.79mi
3309 Southern Ave Unit 2 Baltimore, MD	2.0	1.0	1200	$1,600	$1.33	13d	1	0.79mi
5305 Moravia Rd Baltimore, MD	3.0	1.0	679	$1,993	$2.93	3d	1	0.81mi
3305 Dudley Ave Baltimore, MD	3.0	2.0	1413	$1,950	$1.38	44d	1	0.84mi
3551 Shannon Dr Baltimore, MD	3.0	2.0	1485	$2,358	$1.59	24d	1	0.84mi
3028 Kenyon Ave Baltimore, MD	2.0	2.0	1075	$1,395	$1.30	44d	1	0.86mi
4308 Hamilton Ave Baltimore, MD	2.0	1.0	1110	$1,416	$1.28	24d	1	0.86mi
3573 Shannon Dr Baltimore, MD	4.0	2.0	1493	$2,300	$1.54	18d	1	0.88mi
3566 Dudley Ave Baltimore, MD	2.0	1.0	896	$1,800	$2.01	24d	1	0.90mi
2848 Pelham Ave Baltimore, MD	3.0	2.0	1164	$1,700	$1.46	44d	1	0.97mi
3544 Chesterfield Ave Baltimore, MD	3.0	1.5	1200	$1,635	$1.36	44d	1	0.99mi
5313 Todd Ave Baltimore, MD	3.0	1.5	1280	$1,800	$1.41	17d	1	1.00mi
2837 Pelham Ave Baltimore, MD	4.0	2.0	1164	$1,675	$1.44	44d	1	1.00mi
2817 Pelham Ave Baltimore, MD	3.0	2.0	1464	$1,950	$1.33	24d	1	1.01mi
4022 Ardley Ave Baltimore, MD	2.0	1.0	896	$1,750	$1.95	44d	1	1.04mi
3515 Parklawn Ave Baltimore, MD	3.0	2.0	1240	$1,700	$1.37	3d	1	1.09mi
4116 Raymonn Ave Baltimore, MD	3.0	1.5	1244	$1,950	$1.57	44d	1	1.11mi
5731 Denwood Ave Baltimore, MD	3.0	1.5	1440	$1,700	$1.18	24d	1	1.11mi
5731 Denwood Ave Baltimore, MD	3.0	1.5	1152	$1,700	$1.48	22d	1	1.11mi
3607 Bayonne Ave Unit 2 Baltimore, MD	2.0	1.0	900	$1,300	$1.44	24d	1	1.12mi
2828 Lake Ave Baltimore, MD	3.0	2.0	1164	$1,850	$1.59	5d	1	1.13mi
4903 1/2 Hamilton Ave Apt B Baltimore, MD	3.0	2.0	925	$1,550	$1.68	24d	1	1.14mi
4903 1/2 Hamilton Ave Unit A Baltimore, MD	2.0	2.0	800	$1,450	$1.81	24d	1	1.14mi
3436 Cardenas Ave Baltimore, MD	2.0	1.0	1146	$1,395	$1.22	44d	1	1.15mi
5906 Benton Heights Ave Baltimore, MD	2.0	1.0	780	$1,350	$1.73	44d	1	1.15mi
4905 Hamilton Ave Apt B Baltimore, MD	3.0	2.0	925	$1,550	$1.68	24d	1	1.15mi
4907 Hamilton Ave Unit B Baltimore, MD	3.0	2.0	925	$1,699	$1.84	44d	1	1.15mi
3021 Echodale Ave Unit 2 Baltimore, MD	2.0	1.0	750	$999	$1.33	44d	1	1.16mi

Listing history 38 events

1. 2026-06-18
   days on market $134,900 Active 38 DOM
2. 2026-06-17
   days on market $134,900 Active 37 DOM
3. 2026-06-16
   days on market $134,900 Active 36 DOM
4. 2026-06-15
   days on market $134,900 Active 35 DOM
5. 2026-06-13
   days on market $134,900 Active 33 DOM
6. 2026-06-09
   days on market $134,900 Active 29 DOM
7. 2026-06-08
   days on market $134,900 Active 28 DOM
8. 2026-06-07
   days on market $134,900 Active 27 DOM
9. 2026-06-04
   days on market $134,900 Active 24 DOM
10. 2026-06-03
    days on market $134,900 Active 23 DOM
11. 2026-06-02
    days on market $134,900 Active 22 DOM
12. 2026-06-02
    price $134,900 Active 21 DOM
13. 2026-06-01
    days on market $139,500 Active 21 DOM
14. 2026-05-31
    days on market $139,500 Active 20 DOM
15. 2026-05-15
    price $139,500 575-char remark
16. 2026-05-11
    listed $144,900 Active 575-char remark
17. 2011-03-30
    soldstatus $37,000 Sold 275-char remark

    Show marketing remark (275 chars)

    Semi-detached true three bedroom Home close to 695 and downtown. Has a nice back yard and a deck. Some of the original character remains. Will be a wonderfull house for someone again. At these prices there is no need to keep renting, take advantage of the market and buy low.

18. 2011-03-30
    soldstatus $37,000

    Show marketing remark (275 chars)

    Semi-detached true three bedroom Home close to 695 and downtown. Has a nice back yard and a deck. Some of the original character remains. Will be a wonderfull house for someone again. At these prices there is no need to keep renting, take advantage of the market and buy low.

19. 2011-03-16
    status Contract 275-char remark

    Show marketing remark (275 chars)

    Semi-detached true three bedroom Home close to 695 and downtown. Has a nice back yard and a deck. Some of the original character remains. Will be a wonderfull house for someone again. At these prices there is no need to keep renting, take advantage of the market and buy low.

20. 2011-03-16
    historical

    Show marketing remark (275 chars)

    Semi-detached true three bedroom Home close to 695 and downtown. Has a nice back yard and a deck. Some of the original character remains. Will be a wonderfull house for someone again. At these prices there is no need to keep renting, take advantage of the market and buy low.

21. 2011-03-07
    status Active 275-char remark

    Show marketing remark (275 chars)

    Semi-detached true three bedroom Home close to 695 and downtown. Has a nice back yard and a deck. Some of the original character remains. Will be a wonderfull house for someone again. At these prices there is no need to keep renting, take advantage of the market and buy low.

22. 2011-03-04
    historical Withdrawn
23. 2011-03-04
    historical
24. 2011-03-03
    historical 275-char remark

    Show marketing remark (275 chars)

    Semi-detached true three bedroom Home close to 695 and downtown. Has a nice back yard and a deck. Some of the original character remains. Will be a wonderfull house for someone again. At these prices there is no need to keep renting, take advantage of the market and buy low.

25. 2011-03-03
    listed $39,900 275-char remark

    Show marketing remark (275 chars)

    Semi-detached true three bedroom Home close to 695 and downtown. Has a nice back yard and a deck. Some of the original character remains. Will be a wonderfull house for someone again. At these prices there is no need to keep renting, take advantage of the market and buy low.

26. 2011-03-03
    listed $39,900

    Show marketing remark (275 chars)

    Semi-detached true three bedroom Home close to 695 and downtown. Has a nice back yard and a deck. Some of the original character remains. Will be a wonderfull house for someone again. At these prices there is no need to keep renting, take advantage of the market and buy low.

27. 2011-02-23
    price
28. 2011-01-28
    price Active
29. 2011-01-28
    status Active
30. 2010-11-23
    status Contract
31. 2010-11-02
    price
32. 2010-09-28
    listed Active
33. 2010-09-28
    listed $46,500
34. 2008-08-19
    soldstatus $140,000
35. 2000-05-05
    soldstatus $57,997
36. 2000-03-29
    soldstatus $57,997
37. 2000-02-05
    historical
38. 1999-01-16
    listed $57,997

ⓘ 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: $2,344 · $195/mo
• Projected year-2 tax: $2,344 · $195/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: $22,866
• − Mortgage interest: −$7,556
• − Property taxes: −$2,344
• − Insurance: −$674
• − Repairs & maintenance: −$1,829
• − Management: −$1,829
• − Depreciation: −$3,924
• Taxable income: $4,708
• Est. tax owed @ 24.0%: −$1,130
• After-tax cash flow: $5,426/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

+132.6% since first listed

25 events — show timeline

• 2026-06-01 Price Changed $134,900 BRIGHT MLS
• 2026-05-15 Price Changed $139,500 BRIGHT MLS
• 2026-05-11 Listed $144,900 BRIGHT MLS
• 2011-03-30 Sold (MLS) $37,000 MRIS
• 2011-03-30 Sold (MLS) $37,000 BRIGHT MLS
• 2011-03-16 Pending — MRIS
• 2011-03-16 Listing Removed — BRIGHT MLS
• 2011-03-07 Relisted — MRIS
• 2011-03-04 Delisted — MRIS
• 2011-03-04 Listing Removed — BRIGHT MLS
• 2011-03-03 Listed $39,900 MRIS
• 2011-03-03 Delisted — MRIS
• 2011-03-03 Listed $39,900 BRIGHT MLS
• 2011-02-23 Price Changed — MRIS
• 2011-01-28 Relisted — MRIS
• 2011-01-28 Price Changed — MRIS
• 2010-11-23 Pending — MRIS
• 2010-11-02 Price Changed — MRIS
• 2010-09-28 Listed — MRIS
• 2010-09-28 Listed $46,500 BRIGHT MLS
• 2008-08-19 Sold (Public Records) $140,000 Public Records
• 2000-05-05 Sold (Public Records) $57,997 Public Records
• 2000-03-29 Sold (MLS) $57,997 MRIS
• 2000-02-05 Delisted — MRIS
• 1999-01-16 Listed $57,997 MRIS

Property tax history

+0.3%/yr

Latest (2025): $2,344 · +5.9% YoY. Source: county tax records.