5410 Cedonia Ave · Baltimore, MD 21206

$139,900

3 bd · 1.0 ba · 1,152 sqft · Townhouse public records · 76 Days on market

Built 1959 4,918 sqft lot $121/sqft · 8% below area Est $228k · 39% under

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Why this score? — see what drove the B 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 +29.1/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Solid Brick End Unit Rowhome Offering Classic Charm and Exceptional Potential. This Well-Built Home Features Hardwood Floors, a Finished Walk Out Basement Providing Additional Living Space, and a Covered Front Porch Perfect for Relaxing and Enjoying the Neighborhood Setting. The Fenced Backyard Offers Privacy and Room for Outdoor Entertaining, Gardening, or Pets. With Strong Bones and Desirable Features Already in Place, This Property is an Excellent Opportunity for Buyers or Investors Looking to Add Value Through Cosmetic Updates and Personal Touches. Don’t Miss the Chance to Transform this Home into Something Truly Special. Sold As-Is. .

Key facts

• Covered front porch
• Fenced backyard
• Built 1959

Tags

• FINISHED WALK OUT BASEMENT
• COVERED FRONT PORCH
• FENCED BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $140k.

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 $140k).
• Recommended offer: $132k (6.0% below list) — sets the bar for market timing.

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: 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.
• Zoned schools: Elmer A. Henderson: A Johns Hopkins Partnership (math 2% / reading 16%, grade F, #650 of 860 statewide, top 77%, 642 students, 80% FRL); Baltimore Polytechnic Institute (math 71% / reading 84%, grade A-, #22 of 222 statewide, top 10%, 1,555 students, 43% FRL) — zoned schools average 62% FRL vs 79% district-wide (17 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 43% at this address vs 12% district-wide (+32 pts) — the actual schools serving this property are materially stronger than the Baltimore City Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+4.4%/yr); 180 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $967 of loan paydown is wiped out by about $4k 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 + 4.4% rent growth), your $39k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $47k; list at $140k implies a 198% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1959 — 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 $131,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 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 1959 — 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: 1.39% ✓
• Cap rate: 10.44%
• Cash-on-cash: 14.83%
• DSCR: 1.66
• GRM: 6.0

CMA / ARV

• ARV (median comp): $227,661
• List price: $139,900
• Delta: -38.55%
• 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
5454 Cedonia Ave	0.09mi	4/2.0 (+1)	1,152 (0%)	2mo	$215,000	$187	86
5516 Seward Ave	0.23mi	3/1.5	1,164 (+1%)	2mo	$140,000	$120	84
5536 Whitby Rd	0.30mi	3/1.5	1,152 (0%)	6mo	$137,500	$119	79
6021 Arizona Ave	0.34mi	3/1.5	1,152 (0%)	6mo	$164,900	$143	77
8124 Bartholomew Ct	0.65mi	3/2.5	1,148 (-0%)	6mo	$330,900	$288	58
5327 Todd Ave	0.31mi	4/2.0 (+1)	1,024 (-11%)	1mo	$259,900	$254	57
5907 Daywalt Ave	0.13mi	2/1.5 (-1)	1,008 (-12%)	11mo	$125,000	$124	57
4843 Greencrest Rd	0.60mi	3/1.0	1,088 (-6%)	8mo	$210,000	$193	56
5006 Anntana Ave	0.40mi	3/2.5	1,024 (-11%)	2mo	$260,000	$254	55
4921 Greencrest Rd	0.52mi	3/1.5	1,280 (+11%)	1mo	$112,500	$88	54
4540 Hazelwood Ave	0.66mi	3/1.5	1,080 (-6%)	10mo	$180,000	$167	48
5437 Force Rd	0.74mi	3/2.0	1,024 (-11%)	10mo	$212,500	$208	35

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 · 4.43% rent growth · sell at horizon

5-year hold

• IRR: 7.1%
• Equity multiple: 1.28×
• Total profit: $11,071
• Equity at exit: $20,860

10-year hold

• IRR: 17.7%
• Equity multiple: 2.57×
• Total profit: $61,635
• Equity at exit: $12,096

Cash invested: $39,172 (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 21206

• Rents YoY: 4.4%
• Active inventory: 180
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,942 high
• Mortgage (P&I): −$734
• Tax from tax record: −$258 /mo · $3,097/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $484

Break-even live

Break-even rent $1,329

Max offer price $139,900

Occupancy floor 70%

Sensitivity live

Price	-10% $563	-5% $524	+0% $484	+5% $444	+10% $405
Rent	-10% $331	-5% $407	+0% $484	+5% $561	+10% $637
Rate	-1.0pp $554	-0.5pp $520	base $484	+0.5pp $448	+1.0pp $411

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5253 Cedgate Rd Unit 1 Baltimore, MD	3.0	1.5	1152	$2,200	$1.91	45d	1	0.21mi
6042 Barstow Rd Baltimore, MD	1.0–3.0	1.0	736	$1,527	$2.07	4d	1	0.31mi
5313 Todd Ave Baltimore, MD	3.0	1.5	1280	$1,800	$1.41	18d	1	0.34mi
5904 Arizona Ave Unit B Baltimore, MD	3.0	2.0	925	$1,550	$1.68	25d	1	0.37mi
4909 Hamilton Ave Baltimore, MD	2.0–3.0	2.0	862	$1,550	$1.80	4d	5	0.39mi
4907 Hamilton Ave Unit B Baltimore, MD	3.0	2.0	925	$1,699	$1.84	45d	1	0.42mi
4903 1/2 Hamilton Ave Apt B Baltimore, MD	3.0	2.0	925	$1,550	$1.68	25d	1	0.42mi
4903 1/2 Hamilton Ave Unit A Baltimore, MD	2.0	2.0	800	$1,450	$1.81	25d	1	0.42mi
4905 Hamilton Ave Apt B Baltimore, MD	3.0	2.0	925	$1,550	$1.68	25d	1	0.42mi
4924 Frankford Ave Baltimore, MD	4.0	2.0	1176	$2,600	$2.21	25d	1	0.50mi
5676 Utrecht Rd Baltimore, MD	3.0	2.0	1334	$2,195	$1.65	0d	1	0.51mi
5738 Cedonia Ave Baltimore, MD	2.0	1.0	797	$1,372	$1.72	0d	2	0.56mi
5611 Force Rd Baltimore, MD	3.0	1.5	1296	$1,850	$1.43	45d	1	0.68mi
1732 Chesaco Ave Rosedale, MD	3.0	1.0	1260	$2,295	$1.82	45d	1	0.69mi
4308 Hamilton Ave Baltimore, MD	2.0	1.0	1110	$1,416	$1.28	25d	1	0.89mi
2009 Longview Ave Rosedale, MD	3.0	2.0	1062	$2,500	$2.35	16d	1	0.96mi
4901 Gunther Ave Baltimore, MD	1.0–3.0	1.0–2.0	742	$1,463	$1.97	4d	1	1.00mi
5305 Moravia Rd Baltimore, MD	3.0	1.0	679	$1,993	$2.93	4d	1	1.03mi
5632 Belair Rd Baltimore, MD	3.0	1.5	1260	$2,100	$1.67	25d	1	1.05mi
4517 Woodlea Ave Baltimore, MD	2.0	2.0	1326	$1,900	$1.43	4d	1	1.08mi
5938 Clayton Ave Baltimore, MD	4.0	2.0	1296	$2,872	$2.22	18d	1	1.10mi
6004 Amberwood Rd Baltimore, MD	2.0	1.0	751	$1,220	$1.62	21d	1	1.12mi
4111 Century Rd Baltimore, MD	3.0	1.5	1432	$2,500	$1.75	45d	1	1.14mi
8212 Dorset Ave Rosedale, MD	4.0	1.5	1479	$2,250	$1.52	45d	1	1.17mi
5731 Denwood Ave Baltimore, MD	3.0	1.5	1440	$1,700	$1.18	25d	1	1.18mi
5731 Denwood Ave Baltimore, MD	3.0	1.5	1152	$1,700	$1.48	23d	1	1.18mi
5906 Benton Heights Ave Baltimore, MD	2.0	1.0	780	$1,350	$1.73	45d	1	1.21mi
4007 Biddison Ln Apt 1 Baltimore, MD	2.0	1.0	1000	$1,279	$1.28	19d	1	1.25mi
5424 Belle Vista Ave Baltimore, MD	2.0	1.0	932	$1,300	$1.39	45d	1	1.25mi
4023 Belwood Ave Baltimore, MD	3.0	1.0	1080	$1,995	$1.85	45d	1	1.25mi
4104 Parkwood Ave Baltimore, MD	3.0	1.0	1224	$2,800	$2.29	25d	1	1.25mi
4409 Moravia Rd Baltimore, MD	2.0	1.0	861	$1,385	$1.61	45d	3	1.34mi
3802 Biddison Ln Baltimore, MD	4.0	1.5	1443	$2,024	$1.40	13d	1	1.42mi
5413 Pembroke Ave Baltimore, MD	3.0	2.0	1350	$1,895	$1.40	0d	1	1.42mi
5926 Belle Vista Ave Baltimore, MD	3.0	2.0	1248	$2,250	$1.80	0d	1	1.45mi

Listing history 18 events

1. 2026-06-21
   days on market $139,900 Active 76 DOM
2. 2026-06-18
   days on market $139,900 Active 73 DOM
3. 2026-06-17
   days on market $139,900 Active 72 DOM
4. 2026-06-16
   days on market $139,900 Active 71 DOM
5. 2026-06-15
   days on market $139,900 Active 70 DOM
6. 2026-06-13
   days on market $139,900 Active 68 DOM
7. 2026-06-09
   days on market $139,900 Active 64 DOM
8. 2026-06-08
   days on market $139,900 Active 63 DOM
9. 2026-06-07
   days on market $139,900 Active 62 DOM
10. 2026-06-04
    days on market $139,900 Active 59 DOM
11. 2026-06-03
    days on market $139,900 Active 58 DOM
12. 2026-06-02
    days on market $139,900 Active 57 DOM
13. 2026-06-01
    days on market $139,900 Active 56 DOM
14. 2026-05-31
    days on market $139,900 Active 55 DOM
15. 2026-04-21
    status Active 653-char remark

    Show marketing remark (653 chars)

    Solid Brick End Unit Rowhome Offering Classic Charm and Exceptional Potential. This Well-Built Home Features Hardwood Floors, a Finished Walk Out Basement Providing Additional Living Space, and a Covered Front Porch Perfect for Relaxing and Enjoying the Neighborhood Setting. The Fenced Backyard Offers Privacy and Room for Outdoor Entertaining, Gardening, or Pets. With Strong Bones and Desirable Features Already in Place, This Property is an Excellent Opportunity for Buyers or Investors Looking to Add Value Through Cosmetic Updates and Personal Touches. Don’t Miss the Chance to Transform this Home into Something Truly Special. Sold As-Is. .

16. 2026-04-11
    status Pending 653-char remark

    Show marketing remark (653 chars)

    Solid Brick End Unit Rowhome Offering Classic Charm and Exceptional Potential. This Well-Built Home Features Hardwood Floors, a Finished Walk Out Basement Providing Additional Living Space, and a Covered Front Porch Perfect for Relaxing and Enjoying the Neighborhood Setting. The Fenced Backyard Offers Privacy and Room for Outdoor Entertaining, Gardening, or Pets. With Strong Bones and Desirable Features Already in Place, This Property is an Excellent Opportunity for Buyers or Investors Looking to Add Value Through Cosmetic Updates and Personal Touches. Don’t Miss the Chance to Transform this Home into Something Truly Special. Sold As-Is. .

17. 2026-03-27
    listed $139,900 Active 653-char remark

    Show marketing remark (653 chars)

    Solid Brick End Unit Rowhome Offering Classic Charm and Exceptional Potential. This Well-Built Home Features Hardwood Floors, a Finished Walk Out Basement Providing Additional Living Space, and a Covered Front Porch Perfect for Relaxing and Enjoying the Neighborhood Setting. The Fenced Backyard Offers Privacy and Room for Outdoor Entertaining, Gardening, or Pets. With Strong Bones and Desirable Features Already in Place, This Property is an Excellent Opportunity for Buyers or Investors Looking to Add Value Through Cosmetic Updates and Personal Touches. Don’t Miss the Chance to Transform this Home into Something Truly Special. Sold As-Is. .

18. 1982-11-18
    soldstatus $46,900

ⓘ 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: $3,097 · $258/mo
• Projected year-2 tax: $3,097 · $258/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 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,302
• − Mortgage interest: −$7,837
• − Property taxes: −$3,097
• − Insurance: −$700
• − Repairs & maintenance: −$1,864
• − Management: −$1,864
• − Depreciation: −$4,070
• Taxable income: $3,871
• Est. tax owed @ 24.0%: −$929
• After-tax cash flow: $4,879/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): 48,902
• Household income: $64,531
• Rent vs Own: 46.8% rent · 53.2% own
• Severe rent burden: 2317.0

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 20% Two or more races 3% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 3% Ukrainian 1%
• Foreign-born: 8% · Canada
• Languages at home: 92% English-only · Spanish 2% Arabic 2% 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: ▼ -191.83%
• Current HPI: 284.5645
• Rent YoY: ▲ 4.43%
• 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

+198.3% since first listed

4 events — show timeline

• 2026-04-21 Relisted — BRIGHT MLS
• 2026-04-11 Pending — BRIGHT MLS
• 2026-03-27 Listed $139,900 BRIGHT MLS
• 1982-11-18 Sold (Public Records) $46,900 Public Records

Property tax history

+0.8%/yr

Latest (2025): $3,097 · +7.6% YoY. Source: county tax records.