3808 Granada Ave · Baltimore, MD 21207

$150,000

5 bd · 1.0 ba · 1,590 sqft · SingleFamily public records · 12 Days on market

Built 1930 3,959 sqft lot $94/sqft · 60% below area ↓ 12% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +9.8/10.0
• ARV discount +7.5/15.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0

Listing remarks

Investor special with serious potential! This property is being sold strictly as-is and needs a full renovation, but for the right buyer, the opportunity is absolutely there. Whether you’re looking for your next fix-and-flip, rental investment, or renovation project, this home offers a solid footprint, spacious layout, and a great lot to work with. Bring your contractor, your vision, and your creativity, this is the kind of property seasoned investors are always searching for. Significant repairs and updates are needed, but the value-add potential speaks for itself. Don’t miss the chance to turn this one into something special! Currently set up as 5 bedrooms, 2.5 baths. Call Alt

Key facts

• 3,959 sq ft lot
• Built 1930
• Listed 12 days

Property features AI

Finance

• Financial info: Fee simple ownership; Lease not considered

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Detached structure
• Construction: Brick and vinyl siding construction; Building not winterized; Other foundation type; Above-grade and below-grade structures; Built year sourced from assessor
• Exterior features: Not in a federal flood zone; Natural gas and water available; Public water and public sewer

Interior

• Bedrooms: Four bedrooms on the first upper level; One bedroom on the main level
• Bathrooms: Two full bathrooms (one on main level, one on first upper level); One half bathroom on a lower level
• Heating & cooling: Radiator heating; Oil-fired heating fuel; Hot water provided by natural gas
• Interior features: Basement with connecting stairway, unfinished space with windows and room for finished rooms; Living area per assessor
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $931 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Cap rate 13.7% 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 (+5.2%/yr); 126 active listings in the ZIP; 4 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).
• At $2,563/mo this rent would consume 46% of the median local household income ($67k/yr) (locally 2139% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $15k of equity ($1k loan paydown + $14k appreciation (9.5% local appreciation)).
• Baltimore County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (9.5% appreciation + 5.2% rent growth), your $42k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 23% 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 $150,000

Questions for the listing agent

1. Built in 1930 — 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. 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.
6. 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.
7. 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: 1.71% ✓
• Cap rate: 13.74%
• Cash-on-cash: 26.59%
• DSCR: 2.18
• GRM: 4.9

CMA / ARV

• ARV (median comp): $375,801
• List price: $150,000
• Delta: -60.09%
• 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
4408 W Forest Park Ave	0.69mi	5/2.0	1,600 (+1%)	0mo	$360,000	$225	62
3623 Milford Ave	0.65mi	4/1.5 (-1)	1,536 (-3%)	10mo	$160,500	$104	48
3715 Milford Ave	0.62mi	4/3.0 (-1)	1,620 (+2%)	11mo	$385,000	$238	46
4414 Wentworth Rd	0.57mi	5/3.0	1,708 (+7%)	11mo	$164,000	$96	44
4119 Kathland Ave	0.49mi	5/3.0	1,442 (-9%)	14mo	$385,000	$267	42
3503 Milford Ave	0.73mi	5/4.0	1,498 (-6%)	7mo	$359,900	$240	38
3615 Milford Ave	0.66mi	4/2.5 (-1)	1,521 (-4%)	18mo	$305,000	$201	36
3709 Woodbine Ave	0.47mi	4/3.5 (-1)	1,770 (+11%)	10mo	$350,000	$198	36
3928 Fernhill Ave	0.43mi	4/1.5 (-1)	1,816 (+14%)	16mo	$215,000	$118	35
3727 Milford Ave	0.61mi	4/2.5 (-1)	1,720 (+8%)	15mo	$300,000	$174	35
4302 Elderon Ave	0.72mi	4/2.5 (-1)	1,440 (-9%)	13mo	$200,000	$139	29
4316 Groveland Ave	0.69mi	6/4.0 (+1)	1,812 (+14%)	17mo	$393,000	$217	13

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

9.5% appreciation · 5.23% rent growth · sell at horizon

5-year hold

• IRR: 45.0%
• Equity multiple: 4.38×
• Total profit: $141,806
• Equity at exit: $129,691

10-year hold

• IRR: 40.3%
• Equity multiple: 10.12×
• Total profit: $382,956
• Equity at exit: $274,090

Cash invested: $42,000 (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 21207

• Home prices YoY: 1.1%
• Rents YoY: 5.2%
• Active inventory: 126
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $2,563 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$245 /mo · $2,936/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$538
• Net cashflow: $931

Break-even live

Break-even rent $1,385

Max offer price $150,000

Occupancy floor 59%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3784 Columbus Dr Baltimore, MD	4.0	2.0	1250	$2,200	$1.76	24d	1	0.70mi
4037 Cedardale Rd Baltimore, MD	5.0	3.0	1500	$2,800	$1.87	15d	1	0.98mi
3204 Sequoia Ave Baltimore, MD	4.0	2.5	1791	$2,600	$1.45	44d	1	1.08mi
5306 Ethelbert Ave Baltimore, MD	5.0	2.5	1510	$3,000	$1.99	4d	1	1.39mi

Listing history 4 events

1. 2026-06-02
   status $150,000 Pending 12 DOM
2. 2026-06-01
   days on market $150,000 Active 12 DOM
3. 2026-05-31
   days on market $150,000 Active 11 DOM
4. 2026-05-14
   historical $170,000 12-char remark

ⓘ 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: $2,936 · $245/mo
• Projected year-2 tax: $2,936 · $245/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 7/10 Severe 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 23% 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: $30,751
• − Mortgage interest: −$8,402
• − Property taxes: −$2,936
• − Insurance: −$750
• − Repairs & maintenance: −$2,460
• − Management: −$2,460
• − Depreciation: −$4,364
• Taxable income: $9,379
• Est. tax owed @ 24.0%: −$2,251
• After-tax cash flow: $8,917/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 County · 769,527 people
• City population: 588,727
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 47,099
• Household income: $67,060
• Rent vs Own: 39.3% rent · 60.7% own
• Severe rent burden: 2139.0

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 (78%)
• Race & ethnicity: Black 78% White 8% Hispanic / Latino 7% Two or more races 5% Asian 3%
• Hispanic origin (detail): Puerto Rican 1%
• Common ancestry: Swedish 1%
• Foreign-born: 13% · Canada, Philippines, South Korea
• Languages at home: 86% English-only · Spanish 4% French/Haitian/Cajun 1% Other Asian/Pacific 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: ▲ 9.50%
• Current HPI: 843.63
• Rent YoY: ▲ 5.23%
• 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

-11.8% since first listed

4 events — show timeline

• 2026-06-02 Pending — BRIGHT MLS
• 2026-05-30 Price Changed $150,000 BRIGHT MLS
• 2026-05-20 Listed $170,000 BRIGHT MLS
• 2026-05-14 Coming Soon $170,000 BRIGHT MLS

Property tax history

+0.0%/yr

Latest (2025): $2,936 · +0.0% YoY. Source: county tax records.