3514 White Chapel Rd · Baltimore, MD 21215

$190,000

3 bd · 1.5 ba · 1,718 sqft · Townhouse public records · 44 Days on market

Built 1939 $111/sqft · 17% below area Est $229k · 17% 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 +18.5/30.0
• ARV discount +15.0/15.0
• DSCR +5.8/10.0
• 1% rule +4.9/10.0
• Livability +3.8/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for a home that has charm and history? This brick front semi-detached residence is located in the Historic Ashburton District and presents a great investment opportunity. The interior showcases an open floor plan with a living room and a dining area that encourages social interaction. There is also a half bath, which is ideal for visitors. The kitchen offers lots of cabinets and a door that leads you to the private rear yard, which allows for outdoor enjoyment and potential landscaping enhancements. Parking is convenient with a detached rear-entry garage. The upstairs offers generous sun filled bedrooms and two classic bathroom finishes. The full basement provides another full bath and additional living space and potential for customization and can be further develop, enhancing the property's value. This home is perfect for an investor or owner occupant that loves original charm and craftsmanship. Don't miss this chance to make this property your own!

Key facts

• Open floor plan
• Private rear yard
• Full basement

Tags

• HISTORIC ASHBURTON DISTRICT
• OPEN FLOOR PLAN
• PRIVATE REAR YARD
• DETACHED REAR-ENTRY GARAGE
• FULL BASEMENT
• ADDITIONAL LIVING SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $190k.

Deal economics

• At list price, monthly cash flow is $180 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $188k (1.2% below list).
• Recommended offer: $184k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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 (+2.4%/yr); 351 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); 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• This rent runs 44% of the median local income ($52k/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 $6k 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 44 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 27y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1939 — 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 $184,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 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 1939 — 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: 0.99% ✗
• Cap rate: 7.43%
• Cash-on-cash: 4.07%
• DSCR: 1.18
• GRM: 8.4

CMA / ARV

• ARV (median comp): $229,487
• List price: $190,000
• Delta: -17.21%
• 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
3520 White Chapel Rd	0.02mi	3/2.5	1,718 (0%)	5mo	$130,000	$76	91
3927 Cedardale Rd	0.37mi	3/2.0	1,578 (-8%)	4mo	$208,000	$132	64
3911 Bareva Rd	0.43mi	4/2.0 (+1)	1,620 (-6%)	0mo	$112,100	$69	63
3609 Liberty Heights Ave	0.32mi	4/2.5 (+1)	1,623 (-6%)	4mo	$269,000	$166	63
4054 Hilton Rd	0.45mi	4/3.5 (+1)	1,815 (+6%)	3mo	$250,000	$138	54
3706 Overview Rd	0.45mi	4/3.5 (+1)	1,870 (+9%)	0mo	$220,000	$118	51
3811 Belle Ave	0.60mi	4/3.0 (+1)	1,616 (-6%)	5mo	$270,000	$167	47
2800 Suffolk Ave	0.65mi	4/2.0 (+1)	1,881 (+10%)	2mo	$37,500	$20	45
2800 Oswego Ave	0.62mi	4/2.0 (+1)	1,560 (-9%)	4mo	$180,000	$115	45
3849 W Forest Park Ave	0.65mi	4/1.0 (+1)	1,584 (-8%)	7mo	$55,500	$35	44
3204 Piedmont Ave	0.74mi	4/3.0 (+1)	1,890 (+10%)	1mo	$300,000	$159	37
3202 Piedmont Ave	0.74mi	4/3.0 (+1)	1,890 (+10%)	1mo	$299,900	$159	37

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 · 2.41% rent growth · sell at horizon

5-year hold

• IRR: -10.6%
• Equity multiple: 0.62×
• Total profit: $-20,390
• Equity at exit: $28,330

10-year hold

• IRR: -2.1%
• Equity multiple: 0.86×
• Total profit: $-7,372
• Equity at exit: $16,428

Cash invested: $53,200 (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 21215

• Rents YoY: 2.4%
• Active inventory: 351
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,877 high
• Mortgage (P&I): −$996
• Tax from tax record: −$227 /mo · $2,720/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $180

Break-even live

Break-even rent $1,648

Max offer price $190,000

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3508 Grantley Rd Baltimore, MD	2.0	1.0	1250	$1,350	$1.08	24d	1	0.21mi
3204 Sequoia Ave Baltimore, MD	4.0	2.5	1791	$2,600	$1.45	43d	1	0.28mi
3403 Carlisle Ave Apt 1 Baltimore, MD	2.0	1.0	1100	$1,600	$1.45	11d	1	0.57mi
3914 Maine Ave Unit 3 Baltimore, MD	2.0	1.0	2127	$1,150	$0.54	43d	1	0.68mi
4230 Towanda Ave Baltimore, MD	3.0	2.0	1400	$1,800	$1.29	18d	1	0.69mi
3028 Hanlon Ave Baltimore, MD	3.0	2.0	1200	$1,711	$1.43	24d	1	0.75mi
3822 Pall Mall Rd Baltimore, MD	3.0	1.5	1320	$1,875	$1.42	43d	1	0.82mi
3784 Columbus Dr Baltimore, MD	4.0	2.0	1250	$2,200	$1.76	24d	1	0.91mi
2305 Wichita Ave Unit 1 Baltimore, MD	3.0	1.0	1950	$1,300	$0.67	24d	1	0.91mi
3104 Tioga Pkwy Baltimore, MD	3.0	2.0	1640	$2,050	$1.25	22d	1	0.94mi
2619 Loyola Northway Baltimore, MD	3.0	2.0	1400	$1,995	$1.43	24d	1	0.97mi
2910 Reisterstown Rd Baltimore, MD	1.0–3.0	1.0	950	$1,414	$1.49	15d	4	0.98mi
4309 Norfolk Ave Unit 1st Floor Baltimore, MD	2.0	1.0	1470	$1,500	$1.02	11d	1	1.01mi
3030 Windsor Ave Baltimore, MD	4.0	1.5	2124	$1,995	$0.94	4d	1	1.02mi
2415 Loyola Southway Baltimore, MD	3.0	1.5	1200	$2,033	$1.69	43d	1	1.02mi
3904 Gwynns Falls Pkwy Baltimore, MD	3.0	2.0	1772	$2,600	$1.47	43d	1	1.03mi
4010 Fernhill Ave Unit 2 Baltimore, MD	2.0	1.0	1100	$1,500	$1.36	43d	1	1.08mi
2915 Oakford Ave Baltimore, MD	3.0	2.0	1102	$1,600	$1.45	18d	1	1.09mi
2454 W Cold Spring Ln Baltimore, MD	3.0	1.0	1200	$1,650	$1.38	24d	1	1.13mi
2812 Clifton Ave Baltimore, MD	3.0	1.5	1650	$1,850	$1.12	43d	1	1.13mi
2917 Clifton Ave Baltimore, MD	4.0	4.0	1700	$2,150	$1.26	24d	1	1.14mi
4828 Beaufort Ave Baltimore, MD	2.0	2.5	1200	$1,850	$1.54	24d	1	1.17mi
2103 Chelsea Ter Unit 1 Baltimore, MD	2.0	2.0	1500	$2,200	$1.47	15d	1	1.17mi
2103 Chelsea Ter Unit 2 Baltimore, MD	3.0	1.5	1500	$2,100	$1.40	15d	1	1.17mi
5000 Litchfield Ave #1 Baltimore, MD	2.0	1.0	1100	$1,100	$1.00	43d	1	1.28mi
4704 Pimlico Rd Baltimore, MD	3.0	1.5	2006	$1,800	$0.90	24d	1	1.29mi
3632 Parkdale Ave Baltimore, MD	3.0	1.0	1400	$3,000	$2.14	43d	1	1.30mi
2078 Druid Park Dr Baltimore, MD	2.0	3.0	1500	$2,500	$1.67	43d	1	1.32mi
2078 Druid Park Dr Unit 4 Baltimore, MD	2.0	2.5	1500	$2,500	$1.67	43d	1	1.32mi
2080 Rockrose Ave Unit 2080-201 Baltimore, MD	2.0	2.0	1080	$2,100	$1.94	24d	1	1.32mi
2636 W North Ave Baltimore, MD	2.0–3.0	1.0–2.0	975	$1,475	$1.51	4d	1	1.34mi
3709 Nortonia Rd #2 Baltimore, MD	2.0	1.0	1289	$1,450	$1.12	18d	1	1.38mi
1633 N Hilton St Baltimore, MD	4.0	2.5	1920	$2,600	$1.35	18d	1	1.40mi
2204 Clifton Ave Baltimore, MD	3.0	1.0	1400	$1,450	$1.04	4d	1	1.44mi
2128 N Pulaski St Baltimore, MD	4.0	3.0	2166	$2,200	$1.02	43d	1	1.47mi
2201 Whittier Ave Baltimore, MD	4.0	2.0	1750	$1,700	$0.97	43d	1	1.48mi
2201 Whittier Ave Baltimore, MD	4.0	2.0	1750	$1,700	$0.97	18d	1	1.48mi
2405 W North Ave Baltimore, MD	4.0	3.0	1826	$1,900	$1.04	4d	1	1.49mi
2301 Whittier Ave Unit 1 Baltimore, MD	2.0	1.0	1104	$1,400	$1.27	43d	1	1.50mi
2301 Whittier Ave Unit 3 Baltimore, MD	2.0	2.0	1104	$1,650	$1.49	43d	1	1.50mi

Listing history 17 events

1. 2026-06-07
   status $190,000 Pending 44 DOM
2. 2026-06-04
   days on market $190,000 Active 44 DOM
3. 2026-06-03
   days on market $190,000 Active 43 DOM
4. 2026-06-02
   days on market $190,000 Active 42 DOM
5. 2026-06-01
   days on market $190,000 Active 41 DOM
6. 2026-05-31
   days on market $190,000 Active 40 DOM
7. 2026-04-21
   listed $200,000 Active 973-char remark

   Show marketing remark (973 chars)

   Looking for a home that has charm and history? This brick front semi-detached residence is located in the Historic Ashburton District and presents a great investment opportunity. The interior showcases an open floor plan with a living room and a dining area that encourages social interaction. There is also a half bath, which is ideal for visitors. The kitchen offers lots of cabinets and a door that leads you to the private rear yard, which allows for outdoor enjoyment and potential landscaping enhancements. Parking is convenient with a detached rear-entry garage. The upstairs offers generous sun filled bedrooms and two classic bathroom finishes. The full basement provides another full bath and additional living space and potential for customization and can be further develop, enhancing the property's value. This home is perfect for an investor or owner occupant that loves original charm and craftsmanship. Don't miss this chance to make this property your own!

8. 2023-12-27
   historical
9. 2023-12-27
   historical
10. 2023-12-27
    listed $130,000
11. 2023-08-14
    historical
12. 2023-07-10
    status Active
13. 2023-04-24
    historical
14. 2023-04-24
    listed $130,000
15. 2006-09-19
    soldstatus $169,000
16. 1999-11-16
    historical
17. 1999-06-23
    listed

ⓘ 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: $2,720 · $227/mo
• Projected year-2 tax: $2,720 · $227/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 ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $22,519
• − Mortgage interest: −$10,643
• − Property taxes: −$2,720
• − Insurance: −$950
• − Repairs & maintenance: −$1,802
• − Management: −$1,802
• − Depreciation: −$5,527
• Taxable loss: −$924
• Est. tax savings @ 24.0%: +$222
• After-tax cash flow: $2,385/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): 52,229
• Household income: $51,587
• Rent vs Own: 45.2% rent · 54.8% own
• Severe rent burden: 3644.0

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 17% Hispanic / Latino 5% Two or more races 4% Asian 1%
• Common ancestry: Scotch-Irish 2% Romanian 2% Italian 1%
• Foreign-born: 9% · Canada, South Korea
• Languages at home: 91% English-only · Spanish 4% French/Haitian/Cajun 1% 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: ▼ -318.58%
• Current HPI: 291.4926
• Rent YoY: ▲ 2.41%
• 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

+18.3% since first listed

11 events — show timeline

• 2026-04-21 Listed $200,000 BRIGHT MLS
• 2023-12-27 Listed $130,000 BRIGHT MLS
• 2023-12-27 Listing Removed — BRIGHT MLS
• 2023-12-27 Listing Removed — BRIGHT MLS
• 2023-08-14 Listing Removed — BRIGHT MLS
• 2023-07-10 Relisted — BRIGHT MLS
• 2023-04-24 Listed $130,000 BRIGHT MLS
• 2023-04-24 Listing Removed — BRIGHT MLS
• 2006-09-19 Sold (Public Records) $169,000 Public Records
• 1999-11-16 Delisted — MRIS
• 1999-06-23 Listed — MRIS

Property tax history

-1.3%/yr

Latest (2025): $2,720 · +2.7% YoY. Source: county tax records.