407 Font Hill Ave · Baltimore, MD 21223

$20,000

3 bd · 1.0 ba · 864 sqft · Townhouse public records · 31 Days on market

Built 1920

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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
• ARV discount +7.5/15.0
• Rent growth +4.4/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

ONLINE AUCTION: This auction takes place on the Ashland Auction Group Website Bidding Platform. Bidding begins 6/22/2026 @ 10:00 AM. Bidding ends 6/24/2026 @ 11:30 AM. List Price is Suggested Opening Bid. Deposit: $5,000. 2 Story semi-detached townhouse located in the Gwynns Falls area. JUST MINUTES to Carroll Park, Lower Gwynns Falls Park, and Ascension Saint Agnes Hospital. Easy access to major traffic artery Frederick Ave. Property is vacant.

Key facts

• Built 1920
• Listed 31 days

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public septic
• Home design: Semi-detached property; Fee simple ownership
• Construction: Frame construction; Other foundation; Above-grade and below-grade structures; Built year sourced from assessor
• Exterior features: Property is not on tidal water; Finished above-grade living area according to assessor

Interior

• Bedrooms: 3 bedrooms on main level
• Bathrooms: 1 full bathroom on main level
• Interior features: Unfinished basement

🔨 Auction listing. The $20,000 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $69,984 (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 $20k.

Deal economics

• At list price, monthly cash flow is $729 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $20k).
• Recommended offer: $19k (3.0% below list) — sets the bar for market timing.
• Cap rate 18.8% 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 (+7.5%/yr); 422 active listings in the ZIP; 27 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 40% of the median local income ($46k/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 $484 of loan paydown is wiped out by about $2k 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 + 7.5% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($19k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago 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 $8k; list at $20k implies a 135% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 5.2% of price; built in 1920 — 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 $19,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 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 1920 — 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: 2.19% ✓
• Cap rate: 18.79%
• Cash-on-cash: 44.64%
• DSCR: 2.99
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $69,984
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3140 Strickland St	0.35mi	2/1.0 (-1)	904 (+5%)	6mo	$103,000	$114	66
1028 Parksley Ave	0.41mi	2/1.0 (-1)	840 (-3%)	7mo	$150,000	$179	66
2214 Wilkens Ave	0.66mi	3/1.0	860 (-0%)	9mo	$65,000	$76	61
2637 Dulany St	0.30mi	3/1.0	972 (+12%)	6mo	$35,000	$36	60
2659 Lehman St	0.26mi	2/1.5 (-1)	960 (+11%)	8mo	$124,000	$129	55
3236 Lohrs Ln	0.60mi	2/1.0 (-1)	840 (-3%)	11mo	$64,000	$76	53
534 S Smallwood St	0.67mi	3/1.0	912 (+6%)	9mo	$39,900	$44	52
434 S Smallwood St	0.67mi	3/1.0	910 (+5%)	10mo	$14,500	$16	52
2225 Wilkens Ave	0.66mi	3/1.0	820 (-5%)	13mo	$66,500	$81	50
420 S Smallwood St	0.67mi	3/3.5	910 (+5%)	4mo	$100,000	$110	46
419 Furrow St	0.66mi	3/1.0	980 (+13%)	6mo	$41,000	$42	42
2228 Wilkens Ave	0.64mi	3/2.5	980 (+13%)	14mo	$215,000	$219	30

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 · 7.51% rent growth · sell at horizon

5-year hold

• IRR: 46.7%
• Equity multiple: 3.16×
• Total profit: $42,395
• Equity at exit: $10,435

10-year hold

• IRR: 54.4%
• Equity multiple: 7.61×
• Total profit: $129,600
• Equity at exit: $6,051

Cash invested: $19,596 (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 21223

• Rents YoY: 7.5%
• Active inventory: 422
• Price-to-rent: 1.1×

Monthly cashflow live

• Estimated rent: $1,535 high
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$87 /mo · $1,050/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $729

Break-even live

Break-even rent $612

Max offer price $69,984

Occupancy floor 48%

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: $17,496
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2657 Lehman St Unit 1 Baltimore, MD	2.0	1.0	1056	$1,000	$0.95	44d	1	0.26mi
332 S Franklintown Rd Unit 2 Baltimore, MD	2.0	1.0	776	$795	$1.02	24d	1	0.39mi
2540 Frederick Ave Baltimore, MD	3.0	1.0	1075	$1,400	$1.30	24d	1	0.43mi
2516 Hollins St Baltimore, MD	3.0	2.0	1100	$1,700	$1.55	44d	1	0.63mi
3392 Saint Benedict St Baltimore, MD	2.0	1.0	864	$1,450	$1.68	24d	1	0.70mi
3310 Elbert St Baltimore, MD	2.0	1.0	920	$1,550	$1.68	24d	1	0.78mi
62 N Gorman Ave Baltimore, MD	3.0	2.0	1100	$2,500	$2.27	18d	1	0.85mi
2815 W Mulberry St Baltimore, MD	4.0	2.0	1040	$2,050	$1.97	44d	1	0.93mi
1931 Griffis Ave Baltimore, MD	2.0	1.0	912	$1,349	$1.48	4d	1	1.05mi
1918 W Baltimore St Baltimore, MD	2.0–3.0	1.0–2.0	857	$1,434	$1.67	44d	1	1.05mi
3607 W Lexington St Baltimore, MD	3.0	2.0	1050	$1,895	$1.80	4d	1	1.08mi
304 Collins Ave Unit 2 Baltimore, MD	3.0	1.0	1016	$2,100	$2.07	44d	1	1.12mi
4018 Massachusetts Ave Baltimore, MD	3.0	1.0	1050	$1,400	$1.33	24d	1	1.12mi
1601 Frederick Ave Unit 3 Baltimore, MD	2.0	1.0	1050	$1,050	$1.00	4d	1	1.26mi
4301 Parkton St Baltimore, MD	1.0–3.0	1.0	730	$1,550	$2.12	44d	1	1.28mi
3706 W Franklin St Unit 1 Baltimore, MD	2.0	1.0	735	$1,100	$1.50	4d	1	1.28mi
709 Denison St Baltimore, MD	2.0	2.0	840	$1,630	$1.94	24d	1	1.28mi
305 S Calhoun St Baltimore, MD	2.0	1.0	1000	$1,300	$1.30	22d	1	1.33mi
2 S Woodington Rd Baltimore, MD	2.0	1.0	856	$1,160	$1.36	15d	1	1.37mi
2 N Woodington Rd Baltimore, MD	1.0–2.0	1.0	738	$1,335	$1.81	3d	5	1.38mi
1324 W Lombard St Unit 2 Baltimore, MD	2.0	1.5	1100	$1,450	$1.32	44d	1	1.40mi
1324 W Lombard St Unit 1 Baltimore, MD	2.0	2.0	1100	$1,500	$1.36	24d	1	1.40mi
787 N Grantley St Baltimore, MD	3.0	1.0	1116	$1,575	$1.41	24d	1	1.42mi
1432 Carroll St Baltimore, MD	2.0	1.5	912	$1,900	$2.08	44d	1	1.42mi
1315 Hollins St Unit 2 Baltimore, MD	3.0	2.0	1096	$1,860	$1.70	4d	1	1.43mi
1315 Hollins St Unit 2 Baltimore, MD	3.0	2.0	1096	$1,950	$1.78	12d	1	1.43mi
751 Yale Ave Baltimore, MD	3.0	1.5	1024	$1,750	$1.71	44d	1	1.47mi

Listing history 17 events

1. 2026-06-18
   days on market $20,000 Active 31 DOM
2. 2026-06-17
   days on market $20,000 Active 30 DOM
3. 2026-06-16
   days on market $20,000 Active 29 DOM
4. 2026-06-15
   days on market $20,000 Active 28 DOM
5. 2026-06-13
   days on market $20,000 Active 26 DOM
6. 2026-06-09
   days on market $20,000 Active 22 DOM
7. 2026-06-08
   days on market $20,000 Active 21 DOM
8. 2026-06-07
   days on market $20,000 Active 20 DOM
9. 2026-06-04
   days on market $20,000 Active 17 DOM
10. 2026-06-03
    days on market $20,000 Active 16 DOM
11. 2026-06-02
    days on market $20,000 Active 15 DOM
12. 2026-06-01
    days on market $20,000 Active 14 DOM
13. 2026-05-31
    days on market $20,000 Active 13 DOM
14. 2026-05-18
    listed $20,000 Active
15. 2022-04-04
    historical
16. 2022-03-29
    listed $27,500 Active
17. 1994-06-27
    soldstatus $8,500

ⓘ 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 7/10 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,420
• − Mortgage interest: −$3,920
• − Property taxes: −$1,050
• − Insurance: −$350
• − Repairs & maintenance: −$1,474
• − Management: −$1,474
• − Depreciation: −$2,036
• Taxable income: $8,117
• Est. tax owed @ 24.0%: −$1,948
• After-tax cash flow: $6,800/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): 19,572
• Household income: $45,840
• Rent vs Own: 68.0% rent · 32.0% own
• Severe rent burden: 1755.0

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 (72%)
• Race & ethnicity: Black 72% White 16% Hispanic / Latino 7% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Romanian 1%
• Foreign-born: 8% · Canada
• Languages at home: 90% English-only · Spanish 6% French/Haitian/Cajun 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: ▼ -97.99%
• Current HPI: 140.5836
• Rent YoY: ▲ 7.51%
• 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

+135.3% since first listed

4 events — show timeline

• 2026-05-18 Listed $20,000 BRIGHT MLS
• 2022-04-04 Listing Removed — BRIGHT MLS
• 2022-03-29 Listed $27,500 BRIGHT MLS
• 1994-06-27 Sold (Public Records) $8,500 Public Records

Property tax history

+0.3%/yr

Latest (2025): $1,426 · +10.7% YoY. Source: county tax records.