415 Schwartz Ave · Towson, MD 21212

$224,900

3 bd · 2.0 ba · 1,766 sqft · SingleFamily public records · 23 Days on market

Built 1913 8,400 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 +26.3/30.0
• DSCR +8.9/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Livability +4.3/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Single-family home at a townhome price, this versatile property at 415 Schwartz Ave offers outstanding value and flexibility. Currently configured as a spacious single residence, the layout can be readily adapted into two separate apartment spaces if desired, ideal for rental income, multi-generational living, or a live-in/lease-out setup. Filled with natural light and thoughtfully arranged living areas, the home combines comfort with opportunity, all in a convenient Baltimore location close to everyday amenities and commuter routes. Older home with floors that have settled … Knowing that, please see the structural engineer report in the disclosures demonstrating the home is in good

Key facts

• 8,400 sq ft lot
• 3 parking spots
• Built 1913

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $580 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $222k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 86/100 on livability (#11 in MD, #338 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: crime C-, cost of living F.
• Baltimore County Public Schools (suburban): math 15% / reading 34% proficiency, ranked #11 of 24 in MD (top 46%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: West Towson Elementary (math 37% / reading 52%, grade F, #67 of 860 statewide, top 8%, 382 students, 11% FRL); Dumbarton Middle (math 21% / reading 55%, grade F, #31 of 225 statewide, top 15%, 1,073 students, 32% FRL); Towson High (math 40% / reading 75%, grade C, #79 of 222 statewide, top 35%, 1,676 students, 26% FRL) — zoned schools average 23% FRL vs 39% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 47% at this address vs 24% district-wide (+22 pts) — the actual schools serving this property are materially stronger than the Baltimore County Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+4.7%/yr); 136 active listings in the ZIP; 16 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; 1,511 units permitted in Baltimore County in 2024 (643 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Baltimore County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 4.7% rent growth), your $63k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $24k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $113k; list at $225k implies a 99% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $221,526 (1.5% below list)

Questions for the listing agent

1. Built in 1913 — 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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.
5. 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.
6. 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: 1.16% ✓
• Cap rate: 9.39%
• Cash-on-cash: 11.05%
• DSCR: 1.49
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $482,118
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
311 E Lake Ave	0.35mi	4/2.0 (+1)	1,740 (-2%)	5mo	$475,000	$273	72
728 Highwood Dr	0.61mi	3/1.0	1,669 (-6%)	1mo	$339,000	$203	58
307 E Lake Ave	0.35mi	4/2.0 (+1)	1,964 (+11%)	5mo	$560,000	$285	56
313 E Lake Ave	0.35mi	4/1.5 (+1)	1,550 (-12%)	3mo	$435,000	$281	54
722 Anneslie Rd	0.74mi	3/2.5	1,680 (-5%)	2mo	$650,000	$387	54
442 Rosebank Ave	0.66mi	3/2.0	1,930 (+9%)	3mo	$275,000	$142	52
724 Overbrook Rd	0.73mi	4/3.0 (+1)	1,756 (-1%)	7mo	$455,000	$259	50
709 Cedarcroft Rd	0.51mi	3/3.5	1,997 (+13%)	3mo	$330,000	$165	46
625 Dunkirk Rd	0.62mi	3/3.0	1,566 (-11%)	3mo	$610,000	$390	46
706 Anneslie Rd	0.67mi	3/2.5	1,985 (+12%)	3mo	$490,000	$247	43
707 Anneslie Rd	0.66mi	3/2.0	2,012 (+14%)	7mo	$560,000	$278	40
5806 N Charles St	0.73mi	2/3.0 (-1)	1,970 (+12%)	0mo	$455,800	$231	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 · 4.65% rent growth · sell at horizon

5-year hold

• IRR: 2.0%
• Equity multiple: 1.08×
• Total profit: $4,887
• Equity at exit: $33,533

10-year hold

• IRR: 13.1%
• Equity multiple: 2.12×
• Total profit: $70,442
• Equity at exit: $19,445

Cash invested: $62,972 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 27 Tenant-Leaning
• State Maryland: 27 Tenant-Leaning · D+14
• County: — inherits STATE
• City: — inherits STATE

Failure-to-pay is dismissed if cured before judgment; Baltimore has just-cause; strict deposit rules.

Methodology + full state rankings →

ZIP-level market 21212

• Rents YoY: 4.7%
• Active inventory: 136
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $2,604 high
• Mortgage (P&I): −$1,179
• Tax from tax record: −$204 /mo · $2,446/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$547
• Net cashflow: $580

Break-even live

Break-even rent $1,870

Max offer price $224,900

Occupancy floor 73%

Sensitivity live

Price	-10% $707	-5% $644	+0% $580	+5% $516	+10% $453
Rent	-10% $374	-5% $477	+0% $580	+5% $683	+10% $786
Rate	-1.0pp $693	-0.5pp $637	base $580	+0.5pp $522	+1.0pp $463

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
214 Overbrook Rd Baltimore, MD	3.0	2.0	1896	$2,900	$1.53	5d	1	0.21mi
6008 Clearspring Rd Baltimore, MD	4.0	2.5	1758	$3,600	$2.05	25d	1	0.53mi
100 E Melrose Ave Baltimore, MD	2.0–3.0	2.0–2.5	1750	$3,345	$1.91	6d	2	0.56mi
6159 Parkway Dr Baltimore, MD	4.0	2.0	1408	$2,200	$1.56	23d	1	0.69mi
6159 Parkway Dr Apt 1 Baltimore, MD	4.0	2.0	1408	$2,200	$1.56	25d	1	0.69mi
372 Old Trail Rd Baltimore, MD	3.0	1.5	1530	$2,500	$1.63	45d	1	0.69mi
131 Stanmore Rd Baltimore, MD	4.0	2.0	1616	$2,950	$1.83	6d	1	0.74mi
6189 Northwood Dr Baltimore, MD	4.0	2.0	1400	$2,200	$1.57	45d	1	0.76mi
6149 Dunroming Rd Baltimore, MD	3.0	1.5	1400	$1,895	$1.35	12d	1	0.96mi
828 Saint Dunstans Rd Baltimore, MD	3.0	2.0	1544	$2,000	$1.30	25d	1	1.05mi
620 Harwood Ave Baltimore, MD	2.0	1.0	2056	$1,350	$0.66	45d	1	1.13mi
1111 Gleneagle Rd Unit 2 Baltimore, MD	2.0	1.0	1452	$1,050	$0.72	45d	1	1.13mi
5626 Midwood Ave Unit 2 Baltimore, MD	2.0	1.0	1452	$1,100	$0.76	25d	1	1.21mi
5622 Midwood Ave Baltimore, MD	3.0	2.0	1452	$2,300	$1.58	45d	1	1.22mi
1008 Tunbridge Rd Baltimore, MD	3.0	2.0	1732	$2,050	$1.18	25d	1	1.35mi
6405 Loch Crest Rd Idlewylde, MD	3.0	2.5	1440	$2,257	$1.57	45d	1	1.49mi

Listing history 15 events

1. 2026-02-27
   status Pending
2. 2026-02-18
   price $224,900
3. 2026-02-05
   listed $249,000 Active
4. 2026-01-26
   historical $249,000
5. 2025-12-03
   historical
6. 2025-11-25
   price $259,500
7. 2025-11-18
   price $269,500
8. 2025-11-11
   price $279,500
9. 2025-10-25
   price $289,500
10. 2025-09-14
    price $292,500
11. 2025-08-02
    price $299,500
12. 2025-05-27
    listed $309,900 Active
13. 2022-07-31
    historical
14. 2022-03-07
    listed $340,000 Active
15. 2019-04-10
    soldstatus $113,000

ⓘ 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: $2,446 · $204/mo
• Projected year-2 tax: $2,449 · $204/mo
• Expected delta: +$2/yr ($0/mo · 0.1%)

ⓘ 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 · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,246
• − Mortgage interest: −$12,598
• − Property taxes: −$2,446
• − Insurance: −$1,124
• − Repairs & maintenance: −$2,500
• − Management: −$2,500
• − Depreciation: −$6,543
• Taxable income: $3,535
• Est. tax owed @ 24.0%: −$849
• After-tax cash flow: $6,112/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 County Public Schools
• NCES district ID: 2400120
• Math proficiency: 15% ▼ -16.00%
• Reading proficiency: 34% ▼ -5.00%
• Median HH income: $66,746
• Composite: 23.17/100
• National rank: #7948
• State rank: #11 of 24 in MD

Livability — Towson

• Score: 86/100
• State rank: #11
• US rank: #338

Category grades

Amenities A+ Commute A+ Cost of living F Crime C- Employment A+ Housing A+ Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Towson, MD
• County: Baltimore City · 558,601 people
• City population: 41,698
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 33,974
• Household income: $96,685
• Rent vs Own: 31.2% rent · 68.8% own
• Severe rent burden: 769.0

Population outlook (Baltimore County) Hauer SSP2

• Today (2025): 885,518 people
• By 2030: 909,272 · +2.7%
• By 2040: 951,547 · +7.5%
• By 2050: 990,955 · +11.9%
• By 2075: 1,086,411 · +22.7%
• By 2100: 1,135,078 · +28.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 49% Black 35% Two or more races 9% Hispanic / Latino 7% Asian 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1%
• Common ancestry: Romanian 3% Italian 2% Slovak 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 87% English-only · Spanish 5% Other Indo-European 2% French/Haitian/Cajun 1%

Political lean MEDSL · Baltimore

• 2024 margin: Strong D (+24.5) · D 61.0% · R 36.5% · Other 2.5%
• 2008→2024 swing: +9.9pp toward D · 2008: 14.6pp · 2024: 24.5pp
• All cycles: 2024: D+24.5 2020: D+27.0 2016: D+17.4 2012: D+16.4 2008: D+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -392.44%
• Current HPI: 267.4569
• Rent YoY: ▲ 4.65%
• 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

+99.0% since first listed

15 events — show timeline

• 2026-02-27 Pending — BRIGHT MLS
• 2026-02-18 Price Changed $224,900 BRIGHT MLS
• 2026-02-05 Listed $249,000 BRIGHT MLS
• 2026-01-26 Coming Soon $249,000 BRIGHT MLS
• 2025-12-03 Listing Removed — BRIGHT MLS
• 2025-11-25 Price Changed $259,500 BRIGHT MLS
• 2025-11-18 Price Changed $269,500 BRIGHT MLS
• 2025-11-11 Price Changed $279,500 BRIGHT MLS
• 2025-10-25 Price Changed $289,500 BRIGHT MLS
• 2025-09-14 Price Changed $292,500 BRIGHT MLS
• 2025-08-02 Price Changed $299,500 BRIGHT MLS
• 2025-05-27 Listed $309,900 BRIGHT MLS
• 2022-07-31 Listing Removed — BRIGHT MLS
• 2022-03-07 Listed $340,000 BRIGHT MLS
• 2019-04-10 Sold (Public Records) $113,000 Public Records

Property tax history

+1.6%/yr

Latest (2025): $2,446 · +5.7% YoY. Source: county tax records.