3835 8th St · Baltimore, MD 21225

$30,000

3 bd · 1.0 ba · 1,088 sqft · Townhouse public records · 57 Days on market

Built 1942 1,600 sqft lot

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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 +26.8/30.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

ONLINE REAL ESTATE AUCTION!! Bidding Opens - Tuesday, May 5, 2026. Bidding Closes - Thursday, May 7, 2026 at 12:00 PM. List price is opening bid only. Two story townhome in the Brooklyn area of Baltimore City. Brooklyn has been changing rapidly with an increase in development over the last few years. Close to The Baltimore Peninsula and Anne Arundel County, the area is convenient to many employment centers and major highways. The house is ideal for investors who want to renovate and resell or use it as a rental.

Key facts

• Built 1942
• Listed 57 days

🔨 Auction listing. The $30,000 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $150,473 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $30k.

Deal economics

• At list price, monthly cash flow is $414 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $30k).
• Recommended offer: $29k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.6% 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 (+4.1%/yr); 165 active listings in the ZIP; 30 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 41% of the median local income ($54k/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 $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.
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $42k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($29k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 7.5% of price; built in 1942 — 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 $29,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 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 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.22% ✓
• Cap rate: 9.59%
• Cash-on-cash: 11.78%
• DSCR: 1.52
• GRM: 6.8

CMA / ARV

• ARV (median comp): $150,473
• List price: $30,000
• Delta: -80.06%
• 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
3948 Brooklyn Ave	0.14mi	3/1.5	1,080 (-1%)	0mo	$90,000	$83	90
3712 8th St	0.09mi	2/1.5 (-1)	1,088 (0%)	0mo	$60,000	$55	89
916 Jack St	0.14mi	3/1.5	1,116 (+3%)	1mo	$145,000	$130	86
4009 8th St	0.08mi	2/2.5 (-1)	1,088 (0%)	2mo	$223,000	$205	84
814 Jack St	0.06mi	4/2.0 (+1)	1,116 (+3%)	1mo	$140,000	$125	83
4132 Doris Ave	0.27mi	3/1.5	992 (-9%)	1mo	$215,000	$217	70
3507 4th St	0.48mi	2/1.0 (-1)	1,102 (+1%)	2mo	$50,000	$45	69
4144 Townsend Ave	0.32mi	3/1.5	992 (-9%)	3mo	$90,100	$91	66
28 Talbott St	0.67mi	3/1.0	1,120 (+3%)	2mo	$80,000	$71	62
3916 2nd St	0.54mi	3/2.0	1,024 (-6%)	2mo	$247,000	$241	59
3541 3rd St	0.50mi	2/1.5 (-1)	1,190 (+9%)	2mo	$167,500	$141	52
1614 Popland	0.73mi	4/2.0 (+1)	1,236 (+14%)	0mo	$220,000	$178	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 · 4.08% rent growth · sell at horizon

5-year hold

• IRR: 2.5%
• Equity multiple: 1.10×
• Total profit: $4,016
• Equity at exit: $22,436

10-year hold

• IRR: 13.1%
• Equity multiple: 2.09×
• Total profit: $46,018
• Equity at exit: $13,010

Cash invested: $42,133 (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 21225

• Home prices YoY: -31.9%
• Rents YoY: 4.1%
• Active inventory: 165
• Price-to-rent: 1.4×

Monthly cashflow live

• Estimated rent: $1,840 high
• Mortgage (P&I): −$789
• Tax est. 1.5%: −$188 /mo · $2,257/yr
• Insurance: −$63
• HOA: −$0
• Vacancy / Maint / Mgmt: −$386
• Net cashflow: $414

Break-even live

Break-even rent $1,316

Max offer price $150,473

Occupancy floor 73%

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: $37,618
• Closing costs: $4,514
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3840 8th St Brooklyn, MD	3.0	1.5	1088	$1,606	$1.48	4d	1	0.03mi
507 Washburn Ave Brooklyn, MD	3.0	1.5	1024	$2,500	$2.44	20d	1	0.19mi
507 Washburn Ave Brooklyn, MD	3.0	1.5	1024	$2,500	$2.44	4d	1	0.19mi
507 Washburn Ave Brooklyn, MD	3.0	1.5	1024	$2,500	$2.44	24d	1	0.19mi
3826 10th St Unit Entire House Baltimore, MD	3.0	2.0	1110	$2,400	$2.16	24d	1	0.21mi
3828 10th St Brooklyn, MD	3.0	2.0	1215	$2,350	$1.93	43d	1	0.21mi
3816 W Bay Ave Unit 1 Baltimore, MD	2.0	1.0	1364	$1,155	$0.85	3d	1	0.31mi
4201 Audrey Ave Unit 1 Brooklyn, MD	2.0	1.0	1400	$1,350	$0.96	24d	1	0.32mi
4206 Audrey Ave Brooklyn, MD	3.0	3.0	1104	$1,950	$1.77	24d	1	0.33mi
4206 Audrey Ave Brooklyn, MD	2.0	2.0	1104	$1,275	$1.15	43d	1	0.33mi
3528 6th St Brooklyn, MD	2.0	2.5	1060	$1,500	$1.42	17d	1	0.33mi
1049 E Patapsco Ave Unit a Baltimore, MD	2.0	1.0	748	$1,257	$1.68	43d	1	0.36mi
3569 4th St Brooklyn, MD	2.0	1.5	1256	$1,200	$0.96	17d	1	0.38mi
4400 4th St Unit BASEMENT Baltimore, MD	2.0	1.0	925	$1,350	$1.46	43d	1	0.48mi
3513 Horton Ave Brooklyn, MD	3.0	1.0	1020	$1,600	$1.57	17d	1	0.48mi
1305 E Patapsco Ave Brooklyn, MD	3.0	1.5	930	$1,650	$1.77	4d	1	0.48mi
4207 3rd St Unit 3 Brooklyn, MD	2.0	1.0	850	$1,595	$1.88	5d	1	0.50mi
1353 Cambria St Brooklyn, MD	3.0	2.0	986	$1,600	$1.62	17d	1	0.53mi
5215 Wasena Ave Brooklyn, MD	3.0	1.0	1030	$1,650	$1.60	43d	1	0.62mi
1517 Sycamore St Curtis Bay, MD	3.0	1.5	1210	$1,999	$1.65	24d	1	0.64mi
4216 Prudence St Curtis Bay, MD	4.0	3.0	1116	$2,100	$1.88	43d	1	0.65mi
5227 Patrick Henry Dr Brooklyn, MD	2.0	1.0	736	$1,326	$1.80	21d	1	0.70mi
49 Talbott St Brooklyn, MD	2.0	1.0	1300	$1,300	$1.00	24d	1	0.70mi
1 Ballman Ct Unit 2 Baltimore, MD	2.0	1.0	700	$1,250	$1.79	43d	1	0.72mi
1411 Filbert St Unit 2 Baltimore, MD	2.0	1.0	1428	$1,300	$0.91	43d	1	0.77mi
217 W Edgevale Rd Brooklyn, MD	3.0	1.5	992	$1,800	$1.81	24d	1	0.87mi
303 Arden Rd W Brooklyn, MD	3.0	2.0	1388	$2,500	$1.80	17d	1	0.92mi
511 Seagull Ave Brooklyn, MD	2.0	1.0	756	$1,550	$2.05	24d	1	1.37mi
130 Reedbird Ave Brooklyn, MD	2.0	1.0	1152	$1,700	$1.48	24d	1	1.38mi
90 Hammonds Ln Brooklyn Park, MD	1.0–2.0	1.0–2.0	757	$1,964	$2.59	1d	4	1.43mi

Listing history 5 events

1. 2026-06-03
   statusdays on market $30,000 Pending 57 DOM
2. 2026-06-02
   days on market $30,000 Active 56 DOM
3. 2026-06-01
   days on market $30,000 Active 55 DOM
4. 2026-05-31
   days on market $30,000 Active 54 DOM
5. 2026-04-07
   listed $30,000 Active 518-char remark

   Show marketing remark (518 chars)

   ONLINE REAL ESTATE AUCTION!! Bidding Opens - Tuesday, May 5, 2026. Bidding Closes - Thursday, May 7, 2026 at 12:00 PM. List price is opening bid only. Two story townhome in the Brooklyn area of Baltimore City. Brooklyn has been changing rapidly with an increase in development over the last few years. Close to The Baltimore Peninsula and Anne Arundel County, the area is convenient to many employment centers and major highways. The house is ideal for investors who want to renovate and resell or use it as a rental.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,080
• − Mortgage interest: −$8,429
• − Property taxes: −$2,257
• − Insurance: −$752
• − Repairs & maintenance: −$1,766
• − Management: −$1,766
• − Depreciation: −$4,377
• Taxable income: $2,732
• Est. tax owed @ 24.0%: −$656
• After-tax cash flow: $4,309/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: Anne Arundel County · 535,653 people
• City population: 588,727
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 34,062
• Household income: $54,020
• Rent vs Own: 50.4% rent · 49.6% own
• Severe rent burden: 1440.0

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 0.68)
• Race & ethnicity: Black 42% White 32% Hispanic / Latino 20% Two or more races 8% Native American 3% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Romanian 2% Lithuanian 1% Iranian 1%
• Foreign-born: 12% · Canada, China
• Languages at home: 81% English-only · Spanish 16% Other Indo-European 1% 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: ▼ -119.44%
• Current HPI: 254.5089
• Rent YoY: ▲ 4.08%
• 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

1 event — show timeline

• 2026-04-07 Listed $30,000 BRIGHT MLS

Property tax history

+1.9%/yr

Latest (2025): $2,476 · +81.2% YoY. Source: county tax records.