3920 Mount Pleasant Ave · Baltimore, MD 21224

$154,000

2 bd · 1.0 ba · 896 sqft · Townhouse public records · 63 Days on market

Built 1920 871 sqft lot $172/sqft · 6% above area Est $145k · 6% over

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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 +28.1/30.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• ARV discount +4.8/15.0
• Livability +3.8/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 3920 Mount Pleasant Ave, a beautifully renovated residence that blends modern comfort with refined design. This thoughtfully updated home features two generously sized bedrooms and a stunning bathroom illuminated by a skylight that fills the space with natural light. The main living area flows seamlessly into a spacious kitchen and dining combination, creating an inviting setting ideal for both everyday living and entertaining. Perfectly situated with easy access to the vibrant restaurants, shops, and neighborhood charm of Highlandtown, as well as convenient proximity to downtown Baltimore, this home offers the best of city living with a comfortable neighborhood feel. An exceptional opportunity for a first-time homebuyer, the property may qualify for several homebuyer assistance programs. The Buy Back the Block grant offers up to $15,000 in assistance. Additional programs may also be available, including the FHLB Community Partners Grant offering up to $20,000, the FHLB Workforce Plus program offering up to $15,000, and the FHLB First Time Homebuyer program offering up to $17,500. Buyers are encouraged to reach out to their lender to determine eligibility and obtain more information about these programs.

Key facts

• Built 1920
• Listed 63 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $154k.

Deal economics

• At list price, monthly cash flow is $484 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $154k).
• Recommended offer: $145k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.1% 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 (+1.3%/yr); 391 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); solid renter incomes; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 63 days — a 6% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 26y 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 $113k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $144,760 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 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 1920 — 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: 1.26% ✓
• Cap rate: 10.06%
• Cash-on-cash: 13.46%
• DSCR: 1.60
• GRM: 6.6

CMA / ARV

• ARV (median comp): $145,407
• List price: $154,000
• Delta: 5.91%
• 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
223 Grundy St	0.09mi	2/1.0	864 (-4%)	5mo	$150,000	$174	86
124 N Janney St	0.28mi	2/1.0	792 (-12%)	2mo	$63,800	$81	66
615 N Clinton St	0.64mi	2/1.0	920 (+3%)	3mo	$60,500	$66	63
3534 E Fairmount Ave	0.28mi	2/1.0	1,018 (+14%)	2mo	$86,000	$84	63
309 S Fagley St	0.18mi	2/2.0	1,030 (+15%)	1mo	$225,000	$218	62
3601 Mount Pleasant Ave	0.16mi	3/1.5 (+1)	1,008 (+12%)	4mo	$59,000	$59	61
155 N Streeper St	0.73mi	2/2.0	912 (+2%)	0mo	$220,000	$241	59
447 N Bouldin St	0.56mi	2/1.0	976 (+9%)	4mo	$92,500	$95	56
441 N East Ave	0.59mi	3/1.5 (+1)	976 (+9%)	2mo	$175,000	$179	49
453 N Bouldin St N	0.56mi	2/1.0	1,016 (+13%)	4mo	$62,000	$61	48
602 S Curley St	0.73mi	2/1.0	1,008 (+12%)	3mo	$290,000	$288	42
423 N Curley St	0.72mi	3/1.0 (+1)	1,008 (+12%)	4mo	$55,000	$55	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 · 1.31% rent growth · sell at horizon

5-year hold

• IRR: 1.6%
• Equity multiple: 1.06×
• Total profit: $2,626
• Equity at exit: $22,962

10-year hold

• IRR: 9.5%
• Equity multiple: 1.68×
• Total profit: $29,164
• Equity at exit: $13,315

Cash invested: $43,120 (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 21224

• Rents YoY: 1.3%
• Active inventory: 391
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,940 high
• Mortgage (P&I): −$808
• Tax from tax record: −$177 /mo · $2,128/yr
• Insurance: −$64
• HOA: −$0
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $484

Break-even live

Break-even rent $1,328

Max offer price $154,000

Occupancy floor 70%

Sensitivity live

Price	-10% $571	-5% $527	+0% $484	+5% $440	+10% $396
Rent	-10% $330	-5% $407	+0% $484	+5% $560	+10% $637
Rate	-1.0pp $561	-0.5pp $523	base $484	+0.5pp $444	+1.0pp $403

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: $38,500
• Closing costs: $4,620
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
223 Grundy St Baltimore, MD	2.0	1.0	864	$1,450	$1.68	24d	1	0.08mi
201 S Conkling St Baltimore, MD	1.0	1.0	740	$1,500	$2.03	3d	2	0.18mi
321 Fagley St Baltimore, MD	2.0	1.0	800	$1,650	$2.06	21d	1	0.19mi
3413 Leverton Ave Baltimore, MD	2.0	1.0	832	$1,000	$1.20	24d	1	0.26mi
3905 Bank St Baltimore, MD	4.0	1.0–3.0	909	$2,350	$2.58	3d	20	0.26mi
400 S Conkling St Unit 3 Baltimore, MD	1.0	1.0	700	$1,700	$2.43	44d	1	0.31mi
4015 Eastern Ave Unit 2L Baltimore, MD	3.0	2.0	1100	$1,800	$1.64	44d	1	0.31mi
3344 E Baltimore St Unit 2 Baltimore, MD	1.0	1.0	545	$1,250	$2.29	44d	1	0.32mi
400 S Highland Ave Unit 402 Baltimore, MD	2.0	1.0	900	$1,700	$1.89	44d	1	0.38mi
3801 Fleet St Unit 209 Baltimore, MD	1.0	1.5	814	$1,899	$2.33	44d	1	0.38mi
3232 Eastern Ave Baltimore, MD	1.0	1.5	874	$2,260	$2.59	2d	1	0.44mi
3235 Eastern Ave Unit 2FL Baltimore, MD	1.0	1.0	552	$1,795	$3.25	5d	1	0.47mi
3205 Esther Pl Baltimore, MD	2.0	2.0	960	$1,850	$1.93	24d	1	0.48mi
29 N Ellwood Ave Baltimore, MD	3.0	1.5	1100	$2,395	$2.18	24d	1	0.52mi
203 N Ellwood Ave Unit Main Baltimore, MD	2.0	2.0	880	$2,200	$2.50	24d	1	0.57mi
3200 Fait Ave Baltimore, MD	1.0	1.0	800	$1,700	$2.12	2d	1	0.64mi
3610 Dillon St Baltimore, MD	1.0–2.0	1.0–2.0	828	$2,820	$3.41	44d	1	0.64mi
643 S Potomac St Baltimore, MD	2.0	1.0	785	$1,650	$2.10	44d	1	0.71mi
520 N Decker Ave Baltimore, MD	2.0	1.0	1000	$1,650	$1.65	44d	1	0.72mi
3850 Boston St Baltimore, MD	2.0	1.0–2.0	854	$3,378	$3.96	3d	22	0.76mi
1211 S Eaton St Unit 8038 Baltimore, MD	1.0	1.0	1037	$2,475	$2.39	17d	1	0.77mi
1211 S Eaton St Unit 8041 Baltimore, MD	1.0	1.0	768	$2,300	$2.99	24d	1	0.77mi
1211 S Eaton St Unit 6010 Baltimore, MD	1.0	1.0	774	$2,325	$3.00	22d	1	0.77mi
1211 S Eaton St Unit 7020 Baltimore, MD	1.0	1.0	832	$2,400	$2.88	24d	1	0.77mi
1211 S Eaton St Unit 6012 Baltimore, MD	1.0	1.0	774	$2,554	$3.30	22d	1	0.77mi
1211 S Eaton St Unit 5020 Baltimore, MD	1.0	1.0	832	$2,534	$3.05	44d	1	0.77mi
1211 S Eaton St Unit 5012 Baltimore, MD	1.0	1.0	774	$2,325	$3.00	24d	1	0.77mi
1211 S Eaton St Unit 8024 Baltimore, MD	1.0	1.0	627	$2,014	$3.21	44d	1	0.77mi
1211 S Eaton St Unit 6046 Baltimore, MD	1.0	1.0	774	$2,325	$3.00	17d	1	0.77mi
3518 Elliott St Baltimore, MD	3.0	2.5	1036	$2,800	$2.70	18d	1	0.80mi
3700 Toone St Baltimore, MD	1.0–2.0	1.0–2.0	1093	$3,218	$2.94	2d	28	0.84mi
825 S Linwood Ave Baltimore, MD	1.0	1.0	1000	$2,150	$2.15	24d	1	0.84mi
1200 S Conkling St Baltimore, MD	1.0–2.0	1.0–2.0	1085	$2,933	$2.70	2d	16	0.84mi
415 N Belnord Ave Baltimore, MD	2.0	1.0	1008	$1,300	$1.29	24d	1	0.86mi
127 N Glover St Baltimore, MD	2.0	1.5	1110	$2,100	$1.89	3d	1	0.87mi
3018 O Donnell St Unit 2R Baltimore, MD	1.0	1.0	750	$1,700	$2.27	44d	1	0.88mi
560 Bayview Blvd Baltimore, MD	1.0–3.0	1.0–3.0	1108	$2,515	$2.27	3d	25	0.90mi
2608 E Fayette St Unit 1 Baltimore, MD	2.0	1.0	900	$1,700	$1.89	15d	1	0.90mi
531 N Belnord Ave Baltimore, MD	2.0	1.5	1100	$1,700	$1.55	24d	1	0.90mi
415 N Glover St Baltimore, MD	2.0	2.5	1092	$1,600	$1.47	24d	1	0.93mi

Listing history 36 events

1. 2026-06-18
   price $154,000 Active 63 DOM
2. 2026-06-18
   days on market $159,000 Active 63 DOM
3. 2026-06-17
   days on market $159,000 Active 62 DOM
4. 2026-06-16
   days on market $159,000 Active 61 DOM
5. 2026-06-15
   days on market $159,000 Active 60 DOM
6. 2026-06-13
   days on market $159,000 Active 58 DOM
7. 2026-06-09
   days on market $159,000 Active 54 DOM
8. 2026-06-08
   days on market $159,000 Active 53 DOM
9. 2026-06-07
   days on market $159,000 Active 52 DOM
10. 2026-06-04
    days on market $159,000 Active 49 DOM
11. 2026-06-03
    days on market $159,000 Active 48 DOM
12. 2026-06-02
    days on market $159,000 Active 47 DOM
13. 2026-06-01
    days on market $159,000 Active 46 DOM
14. 2026-05-31
    days on market $159,000 Active 45 DOM
15. 2026-04-17
    listed $159,000 Active 1234-char remark

    Show marketing remark (1234 chars)

    Welcome to 3920 Mount Pleasant Ave, a beautifully renovated residence that blends modern comfort with refined design. This thoughtfully updated home features two generously sized bedrooms and a stunning bathroom illuminated by a skylight that fills the space with natural light. The main living area flows seamlessly into a spacious kitchen and dining combination, creating an inviting setting ideal for both everyday living and entertaining. Perfectly situated with easy access to the vibrant restaurants, shops, and neighborhood charm of Highlandtown, as well as convenient proximity to downtown Baltimore, this home offers the best of city living with a comfortable neighborhood feel. An exceptional opportunity for a first-time homebuyer, the property may qualify for several homebuyer assistance programs. The Buy Back the Block grant offers up to $15,000 in assistance. Additional programs may also be available, including the FHLB Community Partners Grant offering up to $20,000, the FHLB Workforce Plus program offering up to $15,000, and the FHLB First Time Homebuyer program offering up to $17,500. Buyers are encouraged to reach out to their lender to determine eligibility and obtain more information about these programs.

16. 2026-03-12
    historical $159,000 1234-char remark

    Show marketing remark (1234 chars)

    Welcome to 3920 Mount Pleasant Ave, a beautifully renovated residence that blends modern comfort with refined design. This thoughtfully updated home features two generously sized bedrooms and a stunning bathroom illuminated by a skylight that fills the space with natural light. The main living area flows seamlessly into a spacious kitchen and dining combination, creating an inviting setting ideal for both everyday living and entertaining. Perfectly situated with easy access to the vibrant restaurants, shops, and neighborhood charm of Highlandtown, as well as convenient proximity to downtown Baltimore, this home offers the best of city living with a comfortable neighborhood feel. An exceptional opportunity for a first-time homebuyer, the property may qualify for several homebuyer assistance programs. The Buy Back the Block grant offers up to $15,000 in assistance. Additional programs may also be available, including the FHLB Community Partners Grant offering up to $20,000, the FHLB Workforce Plus program offering up to $15,000, and the FHLB First Time Homebuyer program offering up to $17,500. Buyers are encouraged to reach out to their lender to determine eligibility and obtain more information about these programs.

17. 2008-01-14
    historical
18. 2007-09-25
    price
19. 2007-07-21
    price
20. 2007-06-23
    listed
21. 2007-06-01
    historical
22. 2007-01-01
    listed
23. 2006-06-15
    soldstatus $113,000
24. 2006-05-20
    soldstatus $114,000
25. 2006-04-21
    historical
26. 2006-03-22
    soldstatus $80,000
27. 2005-11-10
    listed $116,000
28. 2005-10-10
    historical
29. 2005-09-23
    listed
30. 2005-07-21
    soldstatus $80,000
31. 2005-06-25
    historical
32. 2005-06-16
    listed $80,000
33. 2000-08-30
    soldstatus $42,000
34. 2000-08-10
    soldstatus $42,000
35. 2000-06-20
    historical
36. 2000-05-11
    listed $47,392

ⓘ 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: $2,128 · $177/mo
• Projected year-2 tax: $2,128 · $177/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 8/10 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: $23,282
• − Mortgage interest: −$8,626
• − Property taxes: −$2,128
• − Insurance: −$770
• − Repairs & maintenance: −$1,863
• − Management: −$1,863
• − Depreciation: −$4,480
• Taxable income: $3,553
• Est. tax owed @ 24.0%: −$853
• After-tax cash flow: $4,951/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): 47,465
• Household income: $89,017
• Rent vs Own: 41.5% rent · 58.5% own
• Severe rent burden: 1786.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 55% Hispanic / Latino 21% Black 16% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2% Dominican 1%
• Common ancestry: Romanian 5% Lithuanian 2% Italian 1%
• Foreign-born: 17% · Canada, China, Vietnam
• Languages at home: 76% English-only · Spanish 18% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -332.23%
• Current HPI: 241.284
• Rent YoY: ▲ 1.31%
• 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

+235.5% since first listed

22 events — show timeline

• 2026-04-17 Listed $159,000 BRIGHT MLS
• 2026-03-12 Coming Soon $159,000 BRIGHT MLS
• 2008-01-14 Delisted — MRIS
• 2007-09-25 Price Changed — MRIS
• 2007-07-21 Price Changed — MRIS
• 2007-06-23 Listed — MRIS
• 2007-06-01 Delisted — MRIS
• 2007-01-01 Listed — MRIS
• 2006-06-15 Sold (Public Records) $113,000 Public Records
• 2006-05-20 Sold (MLS) $114,000 MRIS
• 2006-04-21 Delisted — MRIS
• 2006-03-22 Sold (Public Records) $80,000 Public Records
• 2005-11-10 Listed $116,000 MRIS
• 2005-10-10 Delisted — MRIS
• 2005-09-23 Listed — MRIS
• 2005-07-21 Sold (MLS) $80,000 MRIS
• 2005-06-25 Delisted — MRIS
• 2005-06-16 Listed $80,000 MRIS
• 2000-08-30 Sold (Public Records) $42,000 Public Records
• 2000-08-10 Sold (MLS) $42,000 MRIS
• 2000-06-20 Delisted — MRIS
• 2000-05-11 Listed $47,392 MRIS

Property tax history

-0.4%/yr

Latest (2025): $2,128 · +6.2% YoY. Source: county tax records.