4110 Norfolk Ave · Baltimore, MD 21216

$110,000

3 bd · 1.5 ba · 1,216 sqft · Townhouse public records · 100 Days on market

Built 1923 1,898 sqft lot $90/sqft · 25% below area Est $148k · 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• 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

Great investment property with long term tenant in place. This 3 bedroom 1 bathroom property is on a great block, tenant is currently paying $1,225 per month as well as all of the utilities. This property can be sold on its own or as a package as part of a discounted portfolio package with 41109 Norfolk Ave, 3004 Edmondson Ave, and 347 Smallwood Ave. Buyer to verify all information provided by agent.

Key facts

• Built 1923
• Listed 100 days

🏷️ Possibly a rental listed for sale. The $110,000 price doesn't fit this home's estimated sale value (~$147,500) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $110k.

Deal economics

• At list price, monthly cash flow is $435 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $100k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.0% 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 (+6.1%/yr); 252 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 48% 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 44% 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 $761 of loan paydown is wiped out by about $3k 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 + 6.1% rent growth), your $31k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 100 days — a 9% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 17y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $26k; list at $110k implies a 323% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — 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 $100,100 (9.0% below list)

Questions for the listing agent

1. It's been on market 100 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1923 — 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: 1.39% ✓
• Cap rate: 11.04%
• Cash-on-cash: 16.94%
• DSCR: 1.75
• GRM: 6.0

CMA / ARV

• ARV (median comp): $147,500
• List price: $110,000
• Delta: -25.42%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4120 Norfolk Ave	0.02mi	3/1.0	1,216 (0%)	14mo	$60,800	$50	86
4145 Fairfax Rd	0.23mi	4/2.0 (+1)	1,260 (+4%)	5mo	$230,500	$183	72
3929 Duvall Ave	0.35mi	3/2.5	1,248 (+3%)	6mo	$270,000	$216	70
4119 Fairview Ave	0.10mi	4/2.0 (+1)	1,340 (+10%)	3mo	$235,000	$175	69
4227 Norfolk Ave	0.12mi	3/2.5	1,280 (+5%)	16mo	$142,000	$111	68
4222 Bonner Rd	0.16mi	3/1.5	1,380 (+14%)	9mo	$155,000	$112	62
2914 Chelsea Ter	0.32mi	3/2.0	1,327 (+9%)	14mo	$258,000	$194	56
4116 Belle Ave	0.67mi	3/1.5	1,280 (+5%)	7mo	$219,000	$171	54
4002 Woodhaven Ave	0.26mi	4/3.5 (+1)	1,354 (+11%)	13mo	$268,000	$198	45
4403 Haddon Ave	0.60mi	3/1.0	1,320 (+9%)	16mo	$179,000	$136	42
3425 Liberty Heights Ave	0.69mi	4/2.5 (+1)	1,320 (+9%)	6mo	$75,000	$57	39
3411 Liberty Heights Ave	0.72mi	3/3.5	1,360 (+12%)	5mo	$258,000	$190	34

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: 11.7%
• Equity multiple: 1.48×
• Total profit: $14,806
• Equity at exit: $16,401

10-year hold

• IRR: 23.0%
• Equity multiple: 3.28×
• Total profit: $70,118
• Equity at exit: $9,511

Cash invested: $30,800 (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: 6.0×

Monthly cashflow live

• Estimated rent: $1,525 high
• Mortgage (P&I): −$577
• Tax from tax record: −$147 /mo · $1,762/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $435

Break-even live

Break-even rent $974

Max offer price $110,000

Occupancy floor 66%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4309 Norfolk Ave Unit 1st Floor Baltimore, MD	2.0	1.0	1470	$1,500	$1.02	11d	1	0.19mi
3915 Liberty Heights Ave Gwynn Oak, MD	1.0–2.0	1.0–2.0	680	$1,345	$1.98	13d	5	0.28mi
4515 Fairfax Rd Baltimore, MD	2.0	1.0	700	$1,250	$1.79	24d	1	0.45mi
3600 Garrison Blvd Unit T2 Baltimore, MD	2.0	1.0	750	$1,149	$1.53	24d	1	0.45mi
3600 Garrison Blvd Apt T1 Baltimore, MD	2.0	1.0	800	$1,125	$1.41	3d	1	0.45mi
3701 Garrison Blvd Unit 3 Baltimore, MD	2.0	1.0	820	$1,399	$1.71	24d	1	0.52mi
2905 Garrison Blvd Unit 21 Baltimore, MD	2.0	1.0	800	$1,175	$1.47	44d	1	0.56mi
4738 Wakefield Rd Baltimore, MD	2.0	1.0	884	$1,200	$1.36	24d	1	0.57mi
3615 Mohawk Ave Gwynn Oak, MD	2.0	1.0	1000	$1,610	$1.61	44d	1	0.60mi
2700 Roslyn Ave Unit 5 Baltimore, MD	2.0	1.0	800	$1,500	$1.88	18d	1	0.60mi
2700 Roslyn Ave Unit 8 Baltimore, MD	2.0	1.0	800	$1,500	$1.88	4d	1	0.60mi
3617 Mohawk Ave Baltimore, MD	2.0	1.0	1000	$1,595	$1.59	44d	1	0.60mi
3508 Grantley Rd Baltimore, MD	2.0	1.0	1250	$1,350	$1.08	24d	1	0.68mi
3403 Carlisle Ave Apt 1 Baltimore, MD	2.0	1.0	1100	$1,600	$1.45	11d	1	0.72mi
2601 Garrison Blvd Baltimore, MD	2.0	1.0	750	$1,175	$1.57	22d	2	0.72mi
3416 Alto Rd Unit 21 Baltimore, MD	2.0	1.0	700	$1,175	$1.68	44d	1	0.74mi
2220 Lyndhurst Ave Unit 1 Baltimore, MD	2.0	1.0	900	$1,175	$1.31	24d	1	0.77mi
5009 Norwood Ave Gwynn Oak, MD	2.0	1.0	800	$1,150	$1.44	44d	1	0.78mi
3601 Howard Park Ave Unit 2 Baltimore, MD	3.0	1.0	1000	$1,650	$1.65	44d	1	0.85mi
2103 Chelsea Ter Unit 1 Baltimore, MD	2.0	2.0	1500	$2,200	$1.47	15d	1	0.94mi
2103 Chelsea Ter Unit 2 Baltimore, MD	3.0	1.5	1500	$2,100	$1.40	15d	1	0.94mi
4010 Fernhill Ave Unit 2 Baltimore, MD	2.0	1.0	1100	$1,500	$1.36	44d	1	0.96mi
3727 Milford Ave Gwynn Oak, MD	3.0	1.0	900	$1,450	$1.61	44d	1	0.98mi
2742 N Rosedale St Baltimore, MD	3.0	1.0	1024	$1,350	$1.32	44d	2	0.99mi
3407 Elgin Ave Unit 5 Baltimore, MD	2.0	1.0	800	$1,250	$1.56	44d	1	0.99mi
3514 Clifton Ave Baltimore, MD	2.0	1.0	925	$1,199	$1.30	44d	1	1.01mi
3514 Clifton Ave Unit 21 Baltimore, MD	2.0	1.0	925	$1,150	$1.24	44d	1	1.01mi
3001 Carlisle Ave Baltimore, MD	3.0	1.0	1024	$1,300	$1.27	44d	1	1.02mi
2738 N Longwood St Baltimore, MD	3.0	1.0	1024	$1,399	$1.37	44d	1	1.03mi
4998 W Forest Park Ave Baltimore, MD	3.0	1.0–2.0	790	$1,875	$2.37	15d	15	1.07mi
3904 Penhurst Ave Baltimore, MD	2.0	1.0	760	$1,175	$1.55	44d	1	1.07mi
3028 Hanlon Ave Baltimore, MD	3.0	2.0	1200	$1,711	$1.43	24d	1	1.07mi
4008 Hilton Rd Unit 1st Fl Baltimore, MD	2.0	1.0	750	$1,295	$1.73	44d	1	1.15mi
3709 Nortonia Rd #2 Baltimore, MD	2.0	1.0	1289	$1,450	$1.12	18d	1	1.15mi
3784 Columbus Dr Baltimore, MD	4.0	2.0	1250	$2,200	$1.76	24d	1	1.16mi
3908 Groveland Ave Apt F Baltimore, MD	2.0	1.0	815	$1,695	$2.08	44d	1	1.18mi
4037 Edgewood Rd Unit 1 Baltimore, MD	2.0	1.0	726	$1,100	$1.52	44d	1	1.21mi
5006 Windsor Mill Rd Baltimore, MD	1.0–3.0	1.0–2.0	776	$1,899	$2.45	2d	18	1.23mi
3017 Poplar Ter Baltimore, MD	2.0	1.0	880	$1,349	$1.53	24d	1	1.23mi
4016 N Rogers Ave Baltimore, MD	2.0	1.0	717	$1,195	$1.67	44d	1	1.26mi

Listing history 27 events

1. 2026-06-18
   days on market $110,000 Active 100 DOM
2. 2026-06-17
   days on market $110,000 Active 99 DOM
3. 2026-06-16
   days on market $110,000 Active 98 DOM
4. 2026-06-15
   days on market $110,000 Active 97 DOM
5. 2026-06-13
   days on market $110,000 Active 95 DOM
6. 2026-06-09
   days on market $110,000 Active 91 DOM
7. 2026-06-08
   days on market $110,000 Active 90 DOM
8. 2026-06-07
   days on market $110,000 Active 89 DOM
9. 2026-06-04
   days on market $110,000 Active 86 DOM
10. 2026-06-03
    days on market $110,000 Active 85 DOM
11. 2026-06-02
    days on market $110,000 Active 84 DOM
12. 2026-06-01
    days on market $110,000 Active 83 DOM
13. 2026-05-31
    days on market $110,000 Active 82 DOM
14. 2026-04-14
    price $110,000 403-char remark

    Show marketing remark (403 chars)

    Great investment property with long term tenant in place. This 3 bedroom 1 bathroom property is on a great block, tenant is currently paying $1,225 per month as well as all of the utilities. This property can be sold on its own or as a package as part of a discounted portfolio package with 41109 Norfolk Ave, 3004 Edmondson Ave, and 347 Smallwood Ave. Buyer to verify all information provided by agent.

15. 2026-03-10
    listed $115,000 Active 403-char remark

    Show marketing remark (403 chars)

    Great investment property with long term tenant in place. This 3 bedroom 1 bathroom property is on a great block, tenant is currently paying $1,225 per month as well as all of the utilities. This property can be sold on its own or as a package as part of a discounted portfolio package with 41109 Norfolk Ave, 3004 Edmondson Ave, and 347 Smallwood Ave. Buyer to verify all information provided by agent.

16. 2026-02-26
    historical
17. 2026-01-21
    price $115,000
18. 2025-12-29
    status Active
19. 2025-12-25
    historical
20. 2025-09-02
    listed $125,000 Active
21. 2009-05-21
    historical
22. 2009-05-20
    price $26,000 Sold
23. 2009-05-20
    soldstatus $26,000 Sold
24. 2009-05-20
    soldstatus $26,000
25. 2009-05-19
    listed $31,900
26. 2009-04-14
    historical
27. 2009-04-09
    listed $26,000

ⓘ 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: $1,762 · $147/mo
• Projected year-2 tax: $1,762 · $147/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: $18,294
• − Mortgage interest: −$6,162
• − Property taxes: −$1,762
• − Insurance: −$550
• − Repairs & maintenance: −$1,464
• − Management: −$1,464
• − Depreciation: −$3,200
• Taxable income: $3,694
• Est. tax owed @ 24.0%: −$887
• After-tax cash flow: $4,332/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

+323.1% since first listed

14 events — show timeline

• 2026-04-14 Price Changed $110,000 BRIGHT MLS
• 2026-03-10 Listed $115,000 BRIGHT MLS
• 2026-02-26 Listing Removed — BRIGHT MLS
• 2026-01-21 Price Changed $115,000 BRIGHT MLS
• 2025-12-29 Relisted — BRIGHT MLS
• 2025-12-25 Listing Removed — BRIGHT MLS
• 2025-09-02 Listed $125,000 BRIGHT MLS
• 2009-05-21 Delisted — MRIS
• 2009-05-20 Sold (MLS) $26,000 BRIGHT MLS
• 2009-05-20 Sold (MLS) $26,000 MRIS
• 2009-05-20 Price Changed $26,000 MRIS
• 2009-05-19 Listed $31,900 MRIS
• 2009-04-14 Listing Removed — BRIGHT MLS
• 2009-04-09 Listed $26,000 BRIGHT MLS

Property tax history

-1.0%/yr

Latest (2025): $1,762 · +5.6% YoY. Source: county tax records.