3709 Mount Pleasant Ave · Baltimore, MD 21224

$125,000

2 bd · 1.0 ba · 768 sqft · Townhouse public records · 41 Days on market

Built 1920 1,306 sqft lot $163/sqft · at area comps Est $120k · at est.

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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
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• ARV discount +5.6/15.0
• Livability +3.8/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Key facts

• Built 1920
• Listed 41 days

Property features AI

Finance

• Other: Fee simple ownership

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas service
• Home design: Interior townhouse/rowhouse
• Construction: Brick construction; Block foundation; Full basement
• Exterior features: Patio(s); No tidal water; Two or more access exits

Interior

• Kitchen: Stove; Refrigerator; Built-in microwave
• Bedrooms: Two bedrooms on the first upper level
• Bathrooms: One full bathroom (upper level); One half bathroom on the main level
• Heating & cooling: Forced air heating; Natural gas heating and hot water
• Interior features: Traditional floor plan; Dining area; Tub with shower
• Laundry & utility: Laundry on lower floor

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $125k.

Deal economics

• At list price, monthly cash flow is $702 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $121k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.0% 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 (+1.3%/yr); 391 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $864 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 + 1.3% rent growth), your $35k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $28k; list at $125k implies a 346% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: 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 $121,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.48% ✓
• Cap rate: 13.04%
• Cash-on-cash: 24.08%
• DSCR: 2.07
• GRM: 5.6

CMA / ARV

• ARV (median comp): $120,007
• List price: $125,000
• Delta: 4.16%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
107 S Dean St	0.02mi	2/1.0	720 (-6%)	0mo	$104,000	$144	88
321 S Fagley St	0.21mi	2/1.0	780 (+2%)	12mo	$157,000	$201	77
124 N Janney St	0.39mi	2/1.0	792 (+3%)	2mo	$63,800	$81	75
3612 Mount Pleasant Ave	0.02mi	3/1.5 (+1)	804 (+5%)	19mo	$110,000	$137	68
228 S Haven St	0.21mi	2/2.5	720 (-6%)	7mo	$145,000	$201	68
223 Grundy St	0.18mi	2/1.0	864 (+12%)	5mo	$150,000	$174	67
1026 S Highland Ave	0.70mi	2/1.5	757 (-1%)	8mo	$305,000	$403	56
825 S Decker Ave	0.66mi	2/1.0	748 (-3%)	14mo	$215,000	$287	53
805 S Decker Ave	0.64mi	2/1.5	792 (+3%)	15mo	$245,000	$309	50
2927 Pulaski Hwy	0.55mi	2/1.0	858 (+12%)	8mo	$108,950	$127	48
3022 Hudson St	0.69mi	2/1.0	858 (+12%)	6mo	$278,250	$324	43
3009 Fait Ave	0.66mi	2/2.0	880 (+15%)	13mo	$255,000	$290	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 · 1.31% rent growth · sell at horizon

5-year hold

• IRR: 15.5%
• Equity multiple: 1.61×
• Total profit: $21,351
• Equity at exit: $18,638

10-year hold

• IRR: 22.9%
• Equity multiple: 2.82×
• Total profit: $63,778
• Equity at exit: $10,808

Cash invested: $35,000 (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 21224

• Rents YoY: 1.3%
• Active inventory: 391
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,850 high
• Mortgage (P&I): −$656
• Tax from tax record: −$52 /mo · $620/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $702

Break-even live

Break-even rent $961

Max offer price $125,000

Occupancy floor 57%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
201 S Conkling St Baltimore, MD	1.0	1.0	740	$1,500	$2.03	2d	2	0.08mi
3413 Leverton Ave Baltimore, MD	2.0	1.0	832	$1,000	$1.20	23d	1	0.10mi
3344 E Baltimore St Unit 2 Baltimore, MD	1.0	1.0	545	$1,250	$2.29	43d	1	0.18mi
223 Grundy St Baltimore, MD	2.0	1.0	864	$1,450	$1.68	23d	1	0.21mi
321 Fagley St Baltimore, MD	2.0	1.0	800	$1,650	$2.06	20d	1	0.23mi
400 S Conkling St Unit 3 Baltimore, MD	1.0	1.0	700	$1,700	$2.43	43d	1	0.25mi
400 S Highland Ave Unit 402 Baltimore, MD	2.0	1.0	900	$1,700	$1.89	43d	1	0.28mi
3905 Bank St Baltimore, MD	4.0	1.0–3.0	909	$2,350	$2.58	2d	20	0.30mi
3232 Eastern Ave Baltimore, MD	1.0	1.5	874	$2,260	$2.59	1d	1	0.34mi
3205 Esther Pl Baltimore, MD	2.0	2.0	960	$1,850	$1.93	23d	1	0.34mi
29 N Ellwood Ave Baltimore, MD	3.0	1.5	1100	$2,395	$2.18	23d	1	0.36mi
3235 Eastern Ave Unit 2FL Baltimore, MD	1.0	1.0	552	$1,795	$3.25	4d	1	0.37mi
4015 Eastern Ave Unit 2L Baltimore, MD	3.0	2.0	1100	$1,800	$1.64	43d	1	0.38mi
3801 Fleet St Unit 209 Baltimore, MD	1.0	1.5	814	$1,899	$2.33	43d	1	0.40mi
203 N Ellwood Ave Unit Main Baltimore, MD	2.0	2.0	880	$2,200	$2.50	23d	1	0.43mi
3200 Fait Ave Baltimore, MD	1.0	1.0	800	$1,700	$2.12	2d	1	0.56mi
643 S Potomac St Baltimore, MD	2.0	1.0	785	$1,650	$2.10	43d	1	0.59mi
520 N Decker Ave Baltimore, MD	2.0	1.0	1000	$1,650	$1.65	43d	1	0.60mi
3610 Dillon St Baltimore, MD	1.0–2.0	1.0–2.0	828	$2,820	$3.41	43d	1	0.63mi
127 N Glover St Baltimore, MD	2.0	1.5	1110	$2,100	$1.89	2d	1	0.71mi
415 N Belnord Ave Baltimore, MD	2.0	1.0	1008	$1,300	$1.29	23d	1	0.72mi
825 S Linwood Ave Baltimore, MD	1.0	1.0	1000	$2,150	$2.15	23d	1	0.73mi
2608 E Fayette St Unit 1 Baltimore, MD	2.0	1.0	900	$1,700	$1.89	14d	1	0.74mi
531 N Belnord Ave Baltimore, MD	2.0	1.5	1100	$1,700	$1.55	23d	1	0.77mi
415 N Glover St Baltimore, MD	2.0	2.5	1092	$1,600	$1.47	23d	1	0.78mi
3518 Elliott St Baltimore, MD	3.0	2.5	1036	$2,800	$2.70	17d	1	0.78mi
1211 S Eaton St Unit 8024 Baltimore, MD	1.0	1.0	627	$2,014	$3.21	43d	1	0.79mi
1211 S Eaton St Unit 8038 Baltimore, MD	1.0	1.0	1037	$2,475	$2.39	16d	1	0.79mi
1211 S Eaton St Unit 6010 Baltimore, MD	1.0	1.0	774	$2,325	$3.00	21d	1	0.79mi
1211 S Eaton St Unit 8041 Baltimore, MD	1.0	1.0	768	$2,300	$2.99	23d	1	0.79mi
1211 S Eaton St Unit 5020 Baltimore, MD	1.0	1.0	832	$2,534	$3.05	43d	1	0.79mi
1211 S Eaton St Unit 6012 Baltimore, MD	1.0	1.0	774	$2,554	$3.30	21d	1	0.79mi
1211 S Eaton St Unit 5012 Baltimore, MD	1.0	1.0	774	$2,325	$3.00	23d	1	0.79mi
1211 S Eaton St Unit 7020 Baltimore, MD	1.0	1.0	832	$2,400	$2.88	23d	1	0.79mi
1211 S Eaton St Unit 6046 Baltimore, MD	1.0	1.0	774	$2,325	$3.00	16d	1	0.79mi
104 N Rose St Baltimore, MD	3.0	2.0	936	$2,500	$2.67	43d	1	0.79mi
3018 O Donnell St Unit 2R Baltimore, MD	1.0	1.0	750	$1,700	$2.27	43d	1	0.80mi
3850 Boston St Baltimore, MD	2.0	1.0–2.0	854	$3,378	$3.96	2d	22	0.80mi
233 N Rose St Baltimore, MD	2.0	2.5	934	$1,750	$1.87	17d	1	0.82mi
502 N Glover St Baltimore, MD	2.0	1.5	827	$1,250	$1.51	20d	1	0.83mi

Listing history 16 events

1. 2026-06-18
   days on market $125,000 Active 41 DOM
2. 2026-06-17
   days on market $125,000 Active 40 DOM
3. 2026-06-16
   days on market $125,000 Active 39 DOM
4. 2026-06-15
   days on market $125,000 Active 38 DOM
5. 2026-06-13
   days on market $125,000 Active 36 DOM
6. 2026-06-09
   days on market $125,000 Active 32 DOM
7. 2026-06-08
   days on market $125,000 Active 31 DOM
8. 2026-06-07
   days on market $125,000 Active 30 DOM
9. 2026-06-04
   days on market $125,000 Active 27 DOM
10. 2026-06-03
    days on market $125,000 Active 26 DOM
11. 2026-06-02
    days on market $125,000 Active 25 DOM
12. 2026-06-01
    days on market $125,000 Active 24 DOM
13. 2026-05-31
    days on market $125,000 Active 23 DOM
14. 2026-05-08
    listed $125,000 Active 603-char remark
15. 2026-05-01
    historical $125,000 603-char remark
16. 1982-03-03
    soldstatus $28,000

ⓘ 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: $620 · $52/mo
• Projected year-2 tax: $991 · $83/mo
• Expected delta: +$371/yr (+$31/mo · 59.9%)

ⓘ 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 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,203
• − Mortgage interest: −$7,002
• − Property taxes: −$620
• − Insurance: −$625
• − Repairs & maintenance: −$1,776
• − Management: −$1,776
• − Depreciation: −$3,636
• Taxable income: $6,767
• Est. tax owed @ 24.0%: −$1,624
• After-tax cash flow: $6,805/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): 47,465
• Household income: $89,017
• Rent vs Own: 41.5% rent · 58.5% own
• Severe rent burden: 1786.0

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 0.62)
• Race & ethnicity: White 55% Hispanic / Latino 21% Black 16% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2% Dominican 1%
• Common ancestry: Romanian 5% Lithuanian 2% Italian 1%
• Foreign-born: 17% · Canada, China, Vietnam
• Languages at home: 76% English-only · Spanish 18% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -332.23%
• Current HPI: 241.284
• Rent YoY: ▲ 1.31%
• 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

+346.4% since first listed

3 events — show timeline

• 2026-05-08 Listed $125,000 BRIGHT MLS
• 2026-05-01 Coming Soon $125,000 BRIGHT MLS
• 1982-03-03 Sold (Public Records) $28,000 Public Records

Property tax history

-4.7%/yr

Latest (2025): $620 · +1.9% YoY. Source: county tax records.