3401 W Rogers Ave · Baltimore, MD 21215

$295,000

7 bd · 2.0 ba · 1,884 sqft · MultiFamily public records · 15 Days on market

Built 1926 5,845 sqft lot Est $236k · 25% over

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Why this score? — see what drove the D+ 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 +21.8/30.0
• DSCR +7.0/10.0
• 1% rule +6.2/10.0
• Livability +3.8/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Welcome to this well-maintained duplex, offering two distinct living spaces perfect for both homeowners and investors. The first unit is a cozy 3-bedroom, 1-bath home is leased month to month at $1300. The second unit features a spacious 4-bedroom, 1-bath layout, ideal for larger families or those needing extra room. Currently vacant and move-in ready, this unit boasts stylish LVP flooring throughout, providing durability and easy maintenance. This property offers a blend of comfort and convenience, with ample living space, making it an excellent opportunity for a variety of buyers. Don’t miss out on this versatile and valuable investment!

Key facts

• 5,845 sq ft lot
• 2 parking spots
• Built 1926

Property features AI

Finance

• Other: Ground rent paid annually
• Financial info: Two total units in the building; Two vacant units; Unit 1 and Unit 2 noted as other units; Below-grade unfinished area approximately 800 (source: Assessor); Above-grade finished area approximately 1,884 (source: Assessor)

Exterior

• Parking: Two total garage and parking spaces; Two parking lot spaces; Off-street parking
• Utilities: Public water; Public sewer
• Home design: Detached structure; Very good condition; Fee simple ownership
• Construction: Frame, stone, and vinyl siding construction; Shingle roof; Slab foundation; Built (year source: Assessor)
• Exterior features: Deck(s); Paved off-street parking and parking lot

Interior

• Bedrooms: One three-bedroom unit (part of a two-unit building)
• Flooring: Luxury vinyl plank flooring
• Heating & cooling: Radiator heating; Natural gas heating and hot water
• Interior features: Dry wall walls and ceilings; Unfinished basement with outside entrance and poured concrete

What this means for you Summary

Snapshot

• This is a 7-bed/2.0-bath multifamily listed at $295k.

Deal economics

• At list price, monthly cash flow is $459 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $295k).
• Recommended offer: $291k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.2% 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 (+2.4%/yr); 351 active listings in the ZIP; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• At $3,314/mo this rent would consume 77% of the median local household income ($52k/yr) (locally 3644% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 15 days — a 2% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask is 31% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $235k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $290,575 (1.5% below list)

Questions for the listing agent

1. Built in 1926 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.12% ✓
• Cap rate: 8.16%
• Cash-on-cash: 6.67%
• DSCR: 1.30
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $235,500
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3401 W Rogers Ave	0.00mi	7/2.0	1,884 (0%)	20mo	$235,000	$125	83

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: -6.7%
• Equity multiple: 0.75×
• Total profit: $-20,413
• Equity at exit: $43,985

10-year hold

• IRR: 2.2%
• Equity multiple: 1.15×
• Total profit: $12,426
• Equity at exit: $25,506

Cash invested: $82,600 (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: 16.2×

Monthly cashflow live

• Estimated rent: $3,314 high
• Mortgage (P&I): −$1,547
• Tax from tax record: −$489 /mo · $5,872/yr
• Insurance: −$123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$696
• Net cashflow: $459

Break-even live

Break-even rent $2,733

Max offer price $295,000

Occupancy floor 81%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,515
1× unit	4	1	$1,799
Total (2 units)			$3,314

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-18
   days on market $295,000 Coming Soon 15 DOM
2. 2026-06-17
   days on market $295,000 Coming Soon 14 DOM
3. 2026-06-16
   days on market $295,000 Coming Soon 13 DOM
4. 2026-06-15
   days on market $295,000 Coming Soon 12 DOM
5. 2026-06-13
   days on market $295,000 Coming Soon 10 DOM
6. 2026-06-09
   days on market $295,000 Coming Soon 6 DOM
7. 2026-06-08
   days on market $295,000 Coming Soon 5 DOM
8. 2026-06-07
   days on market $295,000 Coming Soon 4 DOM
9. 2026-06-04
   remarks 699-char remark
10. 2026-06-04
    listed $295,000 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: $5,872 · $489/mo
• Projected year-2 tax: $5,872 · $489/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 4/10 Moderate 21% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,768
• − Mortgage interest: −$16,525
• − Property taxes: −$5,872
• − Insurance: −$1,475
• − Repairs & maintenance: −$3,181
• − Management: −$3,181
• − Depreciation: −$8,582
• Taxable income: $952
• Est. tax owed @ 24.0%: −$228
• After-tax cash flow: $5,277/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

+2358.3% since first listed

16 events — show timeline

• 2026-06-03 Coming Soon $295,000 BRIGHT MLS
• 2024-11-08 Sold (Public Records) $235,000 Public Records
• 2024-10-15 Sold (MLS) $235,000 BRIGHT MLS
• 2024-09-07 Rental Removed $1,500 APPFOLIO
• 2024-08-31 Pending — BRIGHT MLS
• 2024-08-22 Listed $225,000 BRIGHT MLS
• 2024-08-06 Price Changed $1,500 APPFOLIO
• 2024-08-02 Price Changed $1,550 APPFOLIO
• 2024-06-07 Price Changed $1,600 APPFOLIO
• 2024-05-29 Listed for Rent $1,650 APPFOLIO
• 2024-05-11 Rental Removed $1,650 APPFOLIO
• 2024-04-16 Listed for Rent $1,650 APPFOLIO
• 2022-12-14 Rental Removed — RENT.
• 2008-07-16 Sold (Public Records) $80,000 Public Records
• 2008-01-25 Sold (Public Records) $60,000 Public Records
• 1980-10-24 Sold (Public Records) $12,000 Public Records

Property tax history

+7.0%/yr

Latest (2025): $5,872 · +525.0% YoY. Source: county tax records.