3908 Fairfax Rd · Baltimore, MD 21216

$130,000

2 bd · 1.0 ba · 1,080 sqft · Townhouse public records · 90 Days on market

Built 1925 2,178 sqft lot $120/sqft · 10% below area Est $144k · 10% under

---

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 +19.1/30.0
• ARV discount +12.0/15.0
• DSCR +6.0/10.0
• 1% rule +5.7/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Turnkey investment opportunity on a quiet, low-traffic street. This 2-bedroom, 1.5-bath property offers immediate cash flow with a long-term tenant already in place who would like to remain—providing stability and minimizing vacancy risk from day one. The home features a functional layout with solid rental appeal, making it an easy addition to any portfolio. Whether you’re a seasoned investor looking to expand or just getting started, this property offers a straightforward, income-producing asset with consistent occupancy. Located in a desirable rental area with strong demand, this is a low-maintenance opportunity with reliable returns and future upside potential. Add this one to your portfolio and start earning from closing.

Key facts

• Built 1925
• Listed 90 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $130k.

Deal economics

• At list price, monthly cash flow is $139 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $122k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.6% 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 fast (+6.1%/yr); 252 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• This rent runs 40% of the median local income ($42k/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 $899 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 90 days — a 6% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 18y ago; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $72k; list at $130k implies a 79% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — 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 $122,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 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 1925 — 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: 1.07% ✓
• Cap rate: 7.58%
• Cash-on-cash: 4.59%
• DSCR: 1.20
• GRM: 7.8

CMA / ARV

• ARV (median comp): $144,498
• List price: $130,000
• Delta: -10.03%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3306 N Hilton St #202	0.63mi	2/1.0	1,044 (-3%)	3mo	$41,000	$39	63
4013 Norfolk Ave	0.17mi	3/2.0 (+1)	1,140 (+6%)	17mo	$165,000	$145	60
4120 Norfolk Ave	0.24mi	3/1.0 (+1)	1,216 (+13%)	14mo	$60,800	$50	51
4104 Woodhaven	0.15mi	3/2.0 (+1)	1,200 (+11%)	23mo	$135,000	$113	47
3317 Liberty Heights Ave #102	0.59mi	2/1.0	951 (-12%)	12mo	$65,000	$68	43
4201 Bonner Rd	0.25mi	3/1.5 (+1)	1,230 (+14%)	22mo	$180,000	$146	40
4107 Norfolk Ave	0.20mi	3/2.5 (+1)	1,224 (+13%)	23mo	$165,000	$135	38
2127 Allendale Rd	0.72mi	3/2.5 (+1)	1,152 (+7%)	19mo	$220,000	$191	28

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 · 6.1% rent growth · sell at horizon

5-year hold

• IRR: -5.5%
• Equity multiple: 0.79×
• Total profit: $-7,661
• Equity at exit: $19,383

10-year hold

• IRR: 7.8%
• Equity multiple: 1.68×
• Total profit: $24,583
• Equity at exit: $11,240

Cash invested: $36,400 (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 21216

• Rents YoY: 6.1%
• Active inventory: 252
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,393 high
• Mortgage (P&I): −$682
• Tax from tax record: −$226 /mo · $2,708/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $139

Break-even live

Break-even rent $1,217

Max offer price $130,000

Occupancy floor 85%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2905 Garrison Blvd Unit 21 Baltimore, MD	2.0	1.0	800	$1,175	$1.47	44d	1	0.31mi
2700 Roslyn Ave Unit 5 Baltimore, MD	2.0	1.0	800	$1,500	$1.88	18d	1	0.35mi
2700 Roslyn Ave Unit 8 Baltimore, MD	2.0	1.0	800	$1,500	$1.88	4d	1	0.35mi
4309 Norfolk Ave Unit 1st Floor Baltimore, MD	2.0	1.0	1470	$1,500	$1.02	11d	1	0.37mi
3915 Liberty Heights Ave Gwynn Oak, MD	1.0–2.0	1.0–2.0	680	$1,345	$1.98	13d	5	0.41mi
3403 Carlisle Ave Apt 1 Baltimore, MD	2.0	1.0	1100	$1,600	$1.45	11d	1	0.46mi
2601 Garrison Blvd Baltimore, MD	2.0	1.0	750	$1,175	$1.57	22d	2	0.47mi
3416 Alto Rd Unit 21 Baltimore, MD	2.0	1.0	700	$1,175	$1.68	44d	1	0.48mi
4515 Fairfax Rd Baltimore, MD	2.0	1.0	700	$1,250	$1.79	24d	1	0.50mi
3600 Garrison Blvd Unit B3 Baltimore, MD	1.0	1.0	700	$1,099	$1.57	44d	1	0.53mi
3600 Garrison Blvd Unit T2 Baltimore, MD	2.0	1.0	750	$1,149	$1.53	24d	1	0.53mi
3600 Garrison Blvd Apt T1 Baltimore, MD	2.0	1.0	800	$1,125	$1.41	3d	1	0.53mi
3319 Liberty Heights Ave #104 Baltimore, MD	1.0	1.0	800	$1,300	$1.62	44d	1	0.56mi
2401 Garrison Blvd Baltimore, MD	1.0	1.0	760	$1,495	$1.97	44d	1	0.58mi
3508 Grantley Rd Baltimore, MD	2.0	1.0	1250	$1,350	$1.08	24d	1	0.59mi
3701 Garrison Blvd Unit 3 Baltimore, MD	2.0	1.0	820	$1,399	$1.71	24d	1	0.60mi
2220 Lyndhurst Ave Unit 1 Baltimore, MD	2.0	1.0	900	$1,175	$1.31	24d	1	0.61mi
4300 Liberty Heights Ave Apt 2D Baltimore, MD	1.0	1.0	750	$1,200	$1.60	44d	1	0.67mi
4738 Wakefield Rd Baltimore, MD	2.0	1.0	884	$1,200	$1.36	24d	1	0.71mi
2742 N Rosedale St Baltimore, MD	3.0	1.0	1024	$1,350	$1.32	44d	2	0.74mi
2103 Chelsea Ter Unit 2 Baltimore, MD	3.0	1.5	1500	$2,100	$1.40	15d	1	0.75mi
2103 Chelsea Ter Unit 1 Baltimore, MD	2.0	2.0	1500	$2,200	$1.47	15d	1	0.75mi
3407 Elgin Ave Unit 5 Baltimore, MD	2.0	1.0	800	$1,250	$1.56	44d	1	0.75mi
3001 Carlisle Ave Baltimore, MD	3.0	1.0	1024	$1,300	$1.27	44d	1	0.77mi
2738 N Longwood St Baltimore, MD	3.0	1.0	1024	$1,399	$1.37	44d	1	0.78mi
3514 Clifton Ave Unit 21 Baltimore, MD	2.0	1.0	925	$1,150	$1.24	44d	1	0.80mi
3514 Clifton Ave Baltimore, MD	2.0	1.0	925	$1,199	$1.30	44d	1	0.80mi
3028 Hanlon Ave Baltimore, MD	3.0	2.0	1200	$1,711	$1.43	24d	1	0.82mi
3615 Mohawk Ave Gwynn Oak, MD	2.0	1.0	1000	$1,610	$1.61	44d	1	0.83mi
3617 Mohawk Ave Baltimore, MD	2.0	1.0	1000	$1,595	$1.59	44d	1	0.83mi
3709 Nortonia Rd #2 Baltimore, MD	2.0	1.0	1289	$1,450	$1.12	18d	1	0.97mi
3017 Poplar Ter Baltimore, MD	2.0	1.0	880	$1,349	$1.53	24d	1	0.98mi
5009 Norwood Ave Gwynn Oak, MD	2.0	1.0	800	$1,150	$1.44	44d	1	1.03mi
4008 Hilton Rd Unit 1st Fl Baltimore, MD	2.0	1.0	750	$1,295	$1.73	44d	1	1.04mi
4101 Fernhill Ave Unit 2W Baltimore, MD	1.0	1.0	761	$1,200	$1.58	24d	1	1.09mi
3601 Howard Park Ave Unit 2 Baltimore, MD	3.0	1.0	1000	$1,650	$1.65	44d	1	1.09mi
4010 Fernhill Ave Unit 2 Baltimore, MD	2.0	1.0	1100	$1,500	$1.36	44d	1	1.11mi
4037 Edgewood Rd Unit 1 Baltimore, MD	2.0	1.0	726	$1,100	$1.52	44d	1	1.11mi
4058 Edgewood Rd Unit 1 Baltimore, MD	1.0	1.0	800	$1,100	$1.38	24d	1	1.14mi
4064 Edgewood Rd Unit 1ST FLOOR Baltimore, MD	1.0	1.0	1320	$1,460	$1.11	44d	1	1.15mi

Listing history 28 events

1. 2026-06-18
   days on market $130,000 Active 90 DOM
2. 2026-06-17
   days on market $130,000 Active 89 DOM
3. 2026-06-16
   days on market $130,000 Active 88 DOM
4. 2026-06-15
   days on market $130,000 Active 87 DOM
5. 2026-06-13
   days on market $130,000 Active 85 DOM
6. 2026-06-09
   days on market $130,000 Active 81 DOM
7. 2026-06-08
   days on market $130,000 Active 80 DOM
8. 2026-06-07
   days on market $130,000 Active 79 DOM
9. 2026-06-04
   days on market $130,000 Active 76 DOM
10. 2026-06-03
    days on market $130,000 Active 75 DOM
11. 2026-06-02
    days on market $130,000 Active 74 DOM
12. 2026-06-01
    days on market $130,000 Active 73 DOM
13. 2026-05-31
    days on market $130,000 Active 72 DOM
14. 2026-05-07
    price $130,000 747-char remark

    Show marketing remark (747 chars)

    Turnkey investment opportunity on a quiet, low-traffic street. This 2-bedroom, 1.5-bath property offers immediate cash flow with a long-term tenant already in place who would like to remain—providing stability and minimizing vacancy risk from day one. The home features a functional layout with solid rental appeal, making it an easy addition to any portfolio. Whether you’re a seasoned investor looking to expand or just getting started, this property offers a straightforward, income-producing asset with consistent occupancy. Located in a desirable rental area with strong demand, this is a low-maintenance opportunity with reliable returns and future upside potential. Add this one to your portfolio and start earning from closing.

15. 2026-03-20
    listed $150,000 Active 747-char remark

    Show marketing remark (747 chars)

    Turnkey investment opportunity on a quiet, low-traffic street. This 2-bedroom, 1.5-bath property offers immediate cash flow with a long-term tenant already in place who would like to remain—providing stability and minimizing vacancy risk from day one. The home features a functional layout with solid rental appeal, making it an easy addition to any portfolio. Whether you’re a seasoned investor looking to expand or just getting started, this property offers a straightforward, income-producing asset with consistent occupancy. Located in a desirable rental area with strong demand, this is a low-maintenance opportunity with reliable returns and future upside potential. Add this one to your portfolio and start earning from closing.

16. 2014-05-22
    soldstatus $72,500
17. 2010-12-01
    historical
18. 2010-12-01
    historical Expired
19. 2010-01-10
    listed Active
20. 2010-01-09
    listed $45,900
21. 2009-10-01
    historical
22. 2009-10-01
    historical
23. 2009-01-14
    listed
24. 2009-01-13
    listed $60,000
25. 2008-04-23
    historical
26. 2008-02-03
    listed
27. 1986-12-31
    soldstatus $15,347
28. 1985-09-23
    soldstatus $27,000

ⓘ 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: $2,708 · $226/mo
• Projected year-2 tax: $2,708 · $226/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 6/10 Major 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: $16,720
• − Mortgage interest: −$7,282
• − Property taxes: −$2,708
• − Insurance: −$650
• − Repairs & maintenance: −$1,338
• − Management: −$1,338
• − Depreciation: −$3,782
• Taxable loss: −$377
• Est. tax savings @ 24.0%: +$90
• After-tax cash flow: $1,761/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): 29,426
• Household income: $42,031
• Rent vs Own: 49.8% rent · 50.2% own
• Severe rent burden: 2264.0

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 (91%)
• Race & ethnicity: Black 91% Hispanic / Latino 4% Two or more races 3% White 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3% 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: ▼ -107.42%
• Current HPI: 164.3933
• Rent YoY: ▲ 6.10%
• 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

+381.5% since first listed

15 events — show timeline

• 2026-05-07 Price Changed $130,000 BRIGHT MLS
• 2026-03-20 Listed $150,000 BRIGHT MLS
• 2014-05-22 Sold (Public Records) $72,500 Public Records
• 2010-12-01 Listing Removed — BRIGHT MLS
• 2010-12-01 Delisted — MRIS
• 2010-01-10 Listed — MRIS
• 2010-01-09 Listed $45,900 BRIGHT MLS
• 2009-10-01 Delisted — MRIS
• 2009-10-01 Listing Removed — BRIGHT MLS
• 2009-01-14 Listed — MRIS
• 2009-01-13 Listed $60,000 BRIGHT MLS
• 2008-04-23 Delisted — MRIS
• 2008-02-03 Listed — MRIS
• 1986-12-31 Sold (Public Records) $15,347 Public Records
• 1985-09-23 Sold (Public Records) $27,000 Public Records

Property tax history

+3.1%/yr

Latest (2025): $2,708 · +4.8% YoY. Source: county tax records.