406 N Loudon Ave · Baltimore, MD 21229

$150,000

4 bd · 2.0 ba · 1,480 sqft · Townhouse public records · 16 Days on market

Built 1921 1,306 sqft lot Est $215k · 30% 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
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 406 N Loudon Street — a charming Baltimore home offering the perfect blend of comfort, character, and convenience. This inviting property features spacious living areas filled with natural light, generously sized bedrooms, and a functional layout designed for everyday living. The kitchen offers ample cabinet and counter space with stainless steel appliances, while the home’s classic details add warmth and charm throughout. Conveniently located near shopping, dining, parks, schools, and major commuter routes, this property is an excellent opportunity for homeowners and investors alike. Don’t miss your chance to own a home in this convenient Baltimore location!

Key facts

• Built 1921
• Listed 15 days

Property features AI

Finance

• Other: Below-grade unfinished area reported (740); Above-grade finished area reported (1,480); Total below-grade area reported (740)
• Financial info: Fee simple ownership

Exterior

• Parking: On-street parking
• Utilities: Public water; Public septic sewer; Natural gas hot water
• Home design: Brick construction; Above-grade and below-grade structural elements
• Construction: Brick exterior; Other foundation
• Exterior features: Interior townhouse/rowhouse; No tidal water

Interior

• Kitchen: Kitchen
• Bedrooms: Four bedrooms on the first upper level; Bedroom 1; Bedroom 2; Bedroom 3; Bedroom 4
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning (electric)
• Interior features: Basement with interior access; Living room; Dining room
• Laundry & utility: Laundry area

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath townhouse listed at $150k.

Deal economics

• At list price, monthly cash flow is $559 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.8% 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 (+5.4%/yr); 256 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); 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 40% of the median local income ($60k/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 $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 + 5.4% rent growth), your $42k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 22y ago; this cycle's ask is 11% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $75k; list at $150k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1921 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 24% 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 $147,750 (1.5% below list)

Questions for the listing agent

1. Built in 1921 — 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: 1.32% ✓
• Cap rate: 10.77%
• Cash-on-cash: 15.98%
• DSCR: 1.71
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $214,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
509 Normandy Ave	0.10mi	4/2.5	1,458 (-2%)	1mo	$212,000	$145	90
3716 Edmondson Ave	0.25mi	4/1.0	1,512 (+2%)	2mo	$130,000	$86	79
517 N Edgewood St	0.41mi	4/2.5	1,430 (-3%)	2mo	$90,000	$63	72
733 Lyndhurst St	0.31mi	3/1.5 (-1)	1,550 (+5%)	2mo	$85,000	$55	69
3707 Colborne Rd	0.45mi	3/2.0 (-1)	1,400 (-5%)	1mo	$220,000	$157	65
101 Upmanor Rd	0.48mi	3/1.0 (-1)	1,408 (-5%)	1mo	$205,000	$146	60
1226 N Augusta Ave	0.61mi	3/2.0 (-1)	1,536 (+4%)	0mo	$212,000	$138	60
4516 Pen Lucy Rd	0.62mi	3/2.0 (-1)	1,416 (-4%)	2mo	$205,000	$145	57
1007 Mount Holly St	0.51mi	4/2.0	1,290 (-13%)	2mo	$210,000	$163	53
743 Linnard St	0.51mi	4/2.0	1,693 (+14%)	1mo	$199,000	$118	51
300 Denison St	0.43mi	3/2.0 (-1)	1,260 (-15%)	2mo	$205,000	$163	48
1000 Mount Holly St	0.49mi	3/1.5 (-1)	1,290 (-13%)	1mo	$93,000	$72	48

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 · 5.38% rent growth · sell at horizon

5-year hold

• IRR: 9.5%
• Equity multiple: 1.39×
• Total profit: $16,190
• Equity at exit: $22,365

10-year hold

• IRR: 20.5%
• Equity multiple: 2.93×
• Total profit: $80,994
• Equity at exit: $12,969

Cash invested: $42,000 (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 21229

• Rents YoY: 5.4%
• Active inventory: 256
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,987 high
• Mortgage (P&I): −$787
• Tax from tax record: −$161 /mo · $1,933/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$417
• Net cashflow: $559

Break-even live

Break-even rent $1,279

Max offer price $150,000

Occupancy floor 67%

Sensitivity live

Price	-10% $644	-5% $602	+0% $559	+5% $517	+10% $474
Rent	-10% $402	-5% $481	+0% $559	+5% $638	+10% $716
Rate	-1.0pp $635	-0.5pp $597	base $559	+0.5pp $520	+1.0pp $481

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
409 Normandy Ave Baltimore, MD	4.0	1.0	1640	$1,500	$0.91	24d	1	0.09mi
4020 Gelston Dr Baltimore, MD	3.0	2.0	1270	$1,875	$1.48	44d	1	0.26mi
3712 Gelston Dr Baltimore, MD	3.0	2.0	1250	$2,500	$2.00	24d	1	0.33mi
3607 W Lexington St Baltimore, MD	3.0	2.0	1050	$1,895	$1.80	5d	1	0.34mi
623 N Grantley St Baltimore, MD	4.0	2.0	1250	$2,000	$1.60	24d	1	0.38mi
202 N Edgewood St Baltimore, MD	3.0	2.0	1710	$2,250	$1.32	24d	1	0.38mi
3507 Edmondson Ave Baltimore, MD	4.0	2.0	1428	$2,300	$1.61	44d	1	0.40mi
405 N Edgewood St Baltimore, MD	4.0	2.0	1408	$2,950	$2.10	5d	1	0.42mi
111 Upmanor Rd Baltimore, MD	3.0	1.5	1224	$2,163	$1.77	44d	1	0.47mi
730 Linnard St Unit 1 Baltimore, MD	4.0	1.0	1360	$1,750	$1.29	24d	1	0.47mi
917 Kevin Rd Baltimore, MD	3.0	2.0	1151	$1,795	$1.56	3d	1	0.48mi
117 Collins Ave Baltimore, MD	3.0	3.0	1617	$2,350	$1.45	44d	1	0.51mi
787 N Grantley St Baltimore, MD	3.0	1.0	1116	$1,575	$1.41	24d	1	0.55mi
780 Linnard St Baltimore, MD	3.0	2.0	1224	$1,590	$1.30	44d	1	0.56mi
798 N Grantley St Baltimore, MD	3.0	2.0	1360	$2,295	$1.69	24d	1	0.56mi
41 N Kossuth St Baltimore, MD	3.0	2.0	1216	$1,800	$1.48	24d	1	0.57mi
4018 Massachusetts Ave Baltimore, MD	3.0	1.0	1050	$1,400	$1.33	24d	1	0.58mi
1216 N Augusta Ave Baltimore, MD	3.0	1.0	1024	$1,550	$1.51	24d	1	0.58mi
4103 Mountwood Rd Baltimore, MD	3.0	2.0	1030	$1,700	$1.65	44d	1	0.59mi
4113 Mountwood Rd Baltimore, MD	3.0	1.0	1520	$1,795	$1.18	44d	1	0.60mi
212 S Loudon Ave Baltimore, MD	3.0	1.5	1310	$1,550	$1.18	44d	1	0.61mi
3336 W Caton Ave Baltimore, MD	3.0	2.0	1236	$1,625	$1.31	24d	1	0.66mi
304 Collins Ave Unit 2 Baltimore, MD	3.0	1.0	1016	$2,100	$2.07	44d	1	0.76mi
219 Atholgate Ln Baltimore, MD	1.0–3.0	1.0–1.5	814	$1,500	$1.84	4d	2	0.84mi
715 N Rosedale St Baltimore, MD	5.0	3.0	1542	$2,550	$1.65	44d	1	0.85mi
2 S Tremont Rd Baltimore, MD	3.0	2.0	1450	$1,800	$1.24	11d	1	0.88mi
2 S Tremont Rd Baltimore, MD	3.0	2.0	1450	$1,800	$1.24	24d	1	0.88mi
19 S Tremont Rd Baltimore, MD	3.0	1.0	1350	$1,850	$1.37	44d	1	0.88mi
3015 Rayner Ave Baltimore, MD	3.0	1.0	1152	$1,350	$1.17	44d	1	0.89mi
3238 Westmont Ave Baltimore, MD	3.0	1.0	1280	$1,600	$1.25	44d	1	0.90mi
2922 Edmondson Ave Baltimore, MD	3.0	2.0	1620	$1,900	$1.17	44d	1	0.95mi
4301 Parkton St Baltimore, MD	1.0–3.0	1.0	730	$1,550	$2.12	44d	1	1.02mi
3309 Brighton St Baltimore, MD	3.0	1.0	1134	$1,700	$1.50	44d	1	1.05mi
114 S Rock Glen Rd Baltimore, MD	4.0	1.5	1160	$2,350	$2.03	13d	1	1.06mi
2815 W Mulberry St Baltimore, MD	4.0	2.0	1040	$2,050	$1.97	44d	1	1.08mi
1513 N Ellamont St Baltimore, MD	3.0	1.0	1700	$1,700	$1.00	24d	1	1.11mi
3130 Stafford St Baltimore, MD	3.0	1.0	1200	$1,500	$1.25	21d	1	1.14mi
4431 Eldone Rd Baltimore, MD	3.0	2.0	896	$2,000	$2.23	24d	1	1.15mi
3127 Baker St Baltimore, MD	3.0	1.0	1000	$1,300	$1.30	44d	1	1.17mi
1530 N Rosedale St Baltimore, MD	3.0	2.0	1641	$1,895	$1.15	15d	1	1.18mi

Listing history 14 events

1. 2026-06-21
   days on market $150,000 Active 16 DOM
2. 2026-06-18
   days on market $150,000 Active 13 DOM
3. 2026-06-17
   days on market $150,000 Active 12 DOM
4. 2026-06-16
   days on market $150,000 Active 11 DOM
5. 2026-06-15
   days on market $150,000 Active 10 DOM
6. 2026-06-13
   days on market $150,000 Active 8 DOM
7. 2026-06-09
   days on market $150,000 Active 4 DOM
8. 2026-06-08
   days on market $150,000 Active 3 DOM
9. 2026-06-07
   statusdays on market $150,000 Active 2 DOM
10. 2026-06-04
    days on market $150,000 Coming Soon 4 DOM
11. 2026-06-03
    days on market $150,000 Coming Soon 3 DOM
12. 2026-06-02
    days on market $150,000 Coming Soon 2 DOM
13. 2026-06-01
    remarks 678-char remark
14. 2026-06-01
    listed $150,000 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: $1,933 · $161/mo
• Projected year-2 tax: $1,933 · $161/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 5/10 Major 24% 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: $23,838
• − Mortgage interest: −$8,402
• − Property taxes: −$1,933
• − Insurance: −$750
• − Repairs & maintenance: −$1,907
• − Management: −$1,907
• − Depreciation: −$4,364
• Taxable income: $4,575
• Est. tax owed @ 24.0%: −$1,098
• After-tax cash flow: $5,612/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): 46,679
• Household income: $60,047
• Rent vs Own: 43.1% rent · 56.9% own
• Severe rent burden: 2776.0

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 15% Hispanic / Latino 6% Two or more races 4% Asian 3%
• Common ancestry: Lithuanian 1% Romanian 1% Serbian 1%
• Foreign-born: 5% · Canada, Philippines
• Languages at home: 91% English-only · Spanish 4% Other Indo-European 2% Other Asian/Pacific 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: ▼ -259.07%
• Current HPI: 226.896
• Rent YoY: ▲ 5.38%
• 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

+512.2% since first listed

25 events — show timeline

• 2026-05-31 Coming Soon $150,000 BRIGHT MLS
• 2024-09-27 Pending — BRIGHT MLS
• 2024-09-27 Listing Removed — BRIGHT MLS
• 2024-09-23 Relisted — BRIGHT MLS
• 2024-09-17 Pending — BRIGHT MLS
• 2024-09-12 Listed $134,950 BRIGHT MLS
• 2024-08-05 Listing Removed — BRIGHT MLS
• 2024-08-02 Price Changed $129,900 BRIGHT MLS
• 2024-07-09 Price Changed $139,900 BRIGHT MLS
• 2024-06-28 Price Changed $141,000 BRIGHT MLS
• 2024-06-28 Relisted — BRIGHT MLS
• 2024-06-14 Price Changed $150,000 BRIGHT MLS
• 2024-06-13 Contingent — BRIGHT MLS
• 2024-05-30 Price Changed $145,000 BRIGHT MLS
• 2024-05-20 Price Changed $149,000 BRIGHT MLS
• 2024-05-13 Relisted — BRIGHT MLS
• 2024-05-12 Listing Removed — BRIGHT MLS
• 2024-05-12 Listed $159,000 BRIGHT MLS
• 2024-05-10 Price Changed $159,000 BRIGHT MLS
• 2024-05-10 Price Changed $15,900 BRIGHT MLS
• 2024-05-09 Coming Soon — BRIGHT MLS
• 2005-02-04 Sold (Public Records) $75,000 Public Records
• 2004-09-22 Sold (MLS) $20,000 MRIS
• 2004-08-27 Delisted — MRIS
• 2004-04-26 Listed $24,500 MRIS

Property tax history

-0.7%/yr

Latest (2025): $1,933 · +7.2% YoY. Source: county tax records.