5814 The Alameda · Baltimore, MD 21239

$180,000

4 bd · 2.0 ba · 1,752 sqft · Townhouse public records · 122 Days on market

Built 1948 6,330 sqft lot $103/sqft · 31% below area Est $263k · 31% 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 +25.4/30.0
• ARV discount +15.0/15.0
• DSCR +8.4/10.0
• 1% rule +7.5/10.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nestled in the charming Glen Oaks neighborhood, this end-of-row townhouse exudes warmth and character. Built in 1948, its classic colonial architecture is complemented by a brick exterior, offering both timeless appeal and durability. Step inside to discover a cozy galley kitchen that invites culinary creativity, seamlessly connecting to a dining area perfect for meals or entertaining friends. The layout provides a sense of flow, making it easy to envision your personal touches throughout the 1,752 square feet of finished space. The property boasts a generous corner lot of 0.15 acres, featuring a lovely front yard and a spacious rear yard, ideal for gardening, play, or simply enjoying the outdoors. Sidewalks and streetlights enhance the neighborhood's charm, encouraging leisurely strolls and a sense of community. The inviting porch offers a perfect spot to unwind with a book or sip your morning coffee while soaking in the tranquil surroundings. Home is a few minutes' walk to Chinquapin Rub Park or to Noah at Yorkewood Recreation Center, and 12-minute car trip to John Hopkins University. Embrace the opportunity to make this townhouse your own and experience the convenience this home brings.

Key facts

• Built 1948
• Listed 121 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath townhouse listed at $180k.

Deal economics

• At list price, monthly cash flow is $415 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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 (+2.9%/yr); 72 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 43% of the median local income ($63k/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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 122 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 19y 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 $48k; list at $180k implies a 279% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — 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 $158,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 122 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — 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: 1.25% ✓
• Cap rate: 9.06%
• Cash-on-cash: 9.87%
• DSCR: 1.44
• GRM: 6.7

CMA / ARV

• ARV (median comp): $262,620
• List price: $180,000
• Delta: -31.46%
• 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
5900 The Alameda	0.02mi	5/3.0 (+1)	1,752 (0%)	2mo	$240,000	$137	89
1542 E Belvedere Ave	0.52mi	4/2.0	1,824 (+4%)	2mo	$283,500	$155	67
1020 Dartmouth Rd	0.39mi	3/2.5 (-1)	1,680 (-4%)	2mo	$275,000	$164	66
5906 Ayleshire Rd	0.48mi	3/1.5 (-1)	1,690 (-4%)	1mo	$155,900	$92	64
1526 Wadsworth Way	0.54mi	4/2.0	1,600 (-9%)	1mo	$279,900	$175	60
853 Lenton Ave	0.42mi	4/2.0	1,540 (-12%)	2mo	$240,000	$156	58
1506 Gleneagle Rd	0.44mi	3/2.0 (-1)	1,520 (-13%)	1mo	$300,000	$197	51
854 Bradhurst Rd	0.58mi	4/2.5	1,516 (-14%)	0mo	$275,000	$181	48
1600 Walterswood Rd	0.64mi	4/2.0	1,520 (-13%)	2mo	$231,000	$152	47
1014 Upnor Rd	0.53mi	3/2.0 (-1)	1,512 (-14%)	2mo	$265,000	$175	46
705 E Lake Ave	0.72mi	3/2.0 (-1)	1,952 (+11%)	1mo	$308,000	$158	41
706 E Lake Ave	0.72mi	3/1.5 (-1)	1,980 (+13%)	1mo	$312,600	$158	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 · 2.86% rent growth · sell at horizon

5-year hold

• IRR: -1.6%
• Equity multiple: 0.94×
• Total profit: $-2,963
• Equity at exit: $26,839

10-year hold

• IRR: 8.0%
• Equity multiple: 1.61×
• Total profit: $30,573
• Equity at exit: $15,563

Cash invested: $50,400 (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 21239

• Rents YoY: 2.9%
• Active inventory: 72
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,251 high
• Mortgage (P&I): −$944
• Tax from tax record: −$345 /mo · $4,137/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$473
• Net cashflow: $415

Break-even live

Break-even rent $1,726

Max offer price $180,000

Occupancy floor 77%

Sensitivity live

Price	-10% $517	-5% $466	+0% $415	+5% $364	+10% $313
Rent	-10% $237	-5% $326	+0% $415	+5% $504	+10% $593
Rate	-1.0pp $505	-0.5pp $461	base $415	+0.5pp $368	+1.0pp $321

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6149 Dunroming Rd Baltimore, MD	3.0	1.5	1400	$1,895	$1.35	11d	1	0.36mi
1508 Gleneagle Rd Baltimore, MD	3.0	2.0	1824	$2,180	$1.20	5d	1	0.43mi
6189 Northwood Dr Baltimore, MD	4.0	2.0	1400	$2,200	$1.57	44d	1	0.50mi
828 Saint Dunstans Rd Baltimore, MD	3.0	2.0	1544	$2,000	$1.30	24d	1	0.51mi
6159 Parkway Dr Apt 1 Baltimore, MD	4.0	2.0	1408	$2,200	$1.56	24d	1	0.52mi
6159 Parkway Dr Baltimore, MD	4.0	2.0	1408	$2,200	$1.56	22d	1	0.52mi
5520 Sagra Rd Baltimore, MD	3.0	1.5	1650	$1,900	$1.15	44d	1	0.53mi
5622 Midwood Ave Baltimore, MD	3.0	2.0	1452	$2,300	$1.58	44d	1	0.54mi
1444 Meridene Dr Baltimore, MD	3.0	1.5	1520	$1,950	$1.28	44d	1	0.55mi
1008 Tunbridge Rd Baltimore, MD	3.0	2.0	1732	$2,050	$1.18	24d	1	0.63mi
1646 Wadsworth Way Baltimore, MD	3.0	1.0	1520	$2,100	$1.38	11d	1	0.72mi
6405 Loch Crest Rd Idlewylde, MD	3.0	2.5	1440	$2,257	$1.57	44d	1	0.72mi
6008 Clearspring Rd Baltimore, MD	4.0	2.5	1758	$3,600	$2.05	24d	1	0.75mi
1221 Glenwood Ave Baltimore, MD	3.0	2.0	1390	$2,595	$1.87	44d	1	0.84mi
506 Cedarcroft Rd Baltimore, MD	5.0	3.0	1695	$3,100	$1.83	12d	1	0.84mi
5204 Kelway Rd Baltimore, MD	3.0	2.0	1666	$2,350	$1.41	24d	1	0.88mi
6518 Loch Hill Ct Loch Hill, MD	3.0	1.5	1580	$2,050	$1.30	24d	1	0.91mi
1908 E Belvedere Ave Baltimore, MD	4.0	2.0	1425	$1,950	$1.37	21d	1	0.92mi
1915 Hillenwood Rd Baltimore, MD	5.0	2.0	2199	$3,200	$1.46	5d	1	0.96mi
1804 Winford Rd Baltimore, MD	3.0	1.5	1600	$2,100	$1.31	24d	1	0.99mi
1224 Winston Ave Baltimore, MD	3.0	2.0	1248	$2,100	$1.68	18d	1	1.02mi
5781 Edgepark Rd Baltimore, MD	3.0	2.0	1568	$1,975	$1.26	17d	1	1.05mi
2028 Hillenwood Rd Baltimore, MD	4.0	2.0	1820	$2,100	$1.15	22d	1	1.07mi
510 Winston Ave Baltimore, MD	4.0	2.0	1600	$2,800	$1.75	21d	1	1.24mi
804 Radnor Ave Baltimore, MD	3.0	1.0	1654	$2,000	$1.21	44d	1	1.28mi
1545 E Cold Spring Ln Baltimore, MD	4.0	2.0	1240	$2,000	$1.61	44d	1	1.28mi
214 Overbrook Rd Baltimore, MD	3.0	2.0	1896	$2,900	$1.53	4d	1	1.34mi
514 Radnor Ave Baltimore, MD	3.0	1.5	1575	$1,500	$0.95	45d	1	1.36mi
4754 Alhambra Ave Baltimore, MD	3.0	2.0	1876	$1,500	$0.80	24d	1	1.40mi
100 E Melrose Ave Baltimore, MD	2.0–3.0	2.0–2.5	1750	$3,345	$1.91	5d	2	1.41mi

Listing history 33 events

1. 2026-06-21
   days on market $180,000 Active 122 DOM
2. 2026-06-18
   days on market $180,000 Active 119 DOM
3. 2026-06-17
   days on market $180,000 Active 118 DOM
4. 2026-06-16
   days on market $180,000 Active 117 DOM
5. 2026-06-15
   days on market $180,000 Active 116 DOM
6. 2026-06-13
   days on market $180,000 Active 114 DOM
7. 2026-06-09
   days on market $180,000 Active 110 DOM
8. 2026-06-08
   days on market $180,000 Active 109 DOM
9. 2026-06-07
   days on market $180,000 Active 108 DOM
10. 2026-06-04
    days on market $180,000 Active 105 DOM
11. 2026-06-03
    days on market $180,000 Active 104 DOM
12. 2026-06-02
    days on market $180,000 Active 103 DOM
13. 2026-06-01
    days on market $180,000 Active 102 DOM
14. 2026-05-31
    days on market $180,000 Active 101 DOM
15. 2026-02-19
    listed $180,000 Active 1208-char remark

    Show marketing remark (1208 chars)

    Nestled in the charming Glen Oaks neighborhood, this end-of-row townhouse exudes warmth and character. Built in 1948, its classic colonial architecture is complemented by a brick exterior, offering both timeless appeal and durability. Step inside to discover a cozy galley kitchen that invites culinary creativity, seamlessly connecting to a dining area perfect for meals or entertaining friends. The layout provides a sense of flow, making it easy to envision your personal touches throughout the 1,752 square feet of finished space. The property boasts a generous corner lot of 0.15 acres, featuring a lovely front yard and a spacious rear yard, ideal for gardening, play, or simply enjoying the outdoors. Sidewalks and streetlights enhance the neighborhood's charm, encouraging leisurely strolls and a sense of community. The inviting porch offers a perfect spot to unwind with a book or sip your morning coffee while soaking in the tranquil surroundings. Home is a few minutes' walk to Chinquapin Rub Park or to Noah at Yorkewood Recreation Center, and 12-minute car trip to John Hopkins University. Embrace the opportunity to make this townhouse your own and experience the convenience this home brings.

16. 2014-11-11
    historical 395-char remark

    Show marketing remark (395 chars)

    Freddie Mac Homesteps Property! Wonderful chance to own this solid all brick home. Currently set up as 2 units, live in one unit and rent the other! Enjoy wood floors, full basement, & nice room sizes! Nice big yard is perfect for warm weather fun! Great location just minutes to Lake Clifton Park. This property is eligible under the Freddie Mac First Look initiative through 5/2/2014.

17. 2014-11-05
    soldstatus $47,500 Sold 395-char remark

    Show marketing remark (395 chars)

    Freddie Mac Homesteps Property! Wonderful chance to own this solid all brick home. Currently set up as 2 units, live in one unit and rent the other! Enjoy wood floors, full basement, & nice room sizes! Nice big yard is perfect for warm weather fun! Great location just minutes to Lake Clifton Park. This property is eligible under the Freddie Mac First Look initiative through 5/2/2014.

18. 2014-11-05
    soldstatus $47,500

    Show marketing remark (395 chars)

    Freddie Mac Homesteps Property! Wonderful chance to own this solid all brick home. Currently set up as 2 units, live in one unit and rent the other! Enjoy wood floors, full basement, & nice room sizes! Nice big yard is perfect for warm weather fun! Great location just minutes to Lake Clifton Park. This property is eligible under the Freddie Mac First Look initiative through 5/2/2014.

19. 2014-06-09
    status Contract 395-char remark

    Show marketing remark (395 chars)

    Freddie Mac Homesteps Property! Wonderful chance to own this solid all brick home. Currently set up as 2 units, live in one unit and rent the other! Enjoy wood floors, full basement, & nice room sizes! Nice big yard is perfect for warm weather fun! Great location just minutes to Lake Clifton Park. This property is eligible under the Freddie Mac First Look initiative through 5/2/2014.

20. 2014-06-09
    historical

    Show marketing remark (395 chars)

    Freddie Mac Homesteps Property! Wonderful chance to own this solid all brick home. Currently set up as 2 units, live in one unit and rent the other! Enjoy wood floors, full basement, & nice room sizes! Nice big yard is perfect for warm weather fun! Great location just minutes to Lake Clifton Park. This property is eligible under the Freddie Mac First Look initiative through 5/2/2014.

21. 2014-04-13
    listed $59,900 Active 395-char remark

    Show marketing remark (395 chars)

    Freddie Mac Homesteps Property! Wonderful chance to own this solid all brick home. Currently set up as 2 units, live in one unit and rent the other! Enjoy wood floors, full basement, & nice room sizes! Nice big yard is perfect for warm weather fun! Great location just minutes to Lake Clifton Park. This property is eligible under the Freddie Mac First Look initiative through 5/2/2014.

22. 2014-04-13
    listed $59,900

    Show marketing remark (395 chars)

    Freddie Mac Homesteps Property! Wonderful chance to own this solid all brick home. Currently set up as 2 units, live in one unit and rent the other! Enjoy wood floors, full basement, & nice room sizes! Nice big yard is perfect for warm weather fun! Great location just minutes to Lake Clifton Park. This property is eligible under the Freddie Mac First Look initiative through 5/2/2014.

23. 2011-02-24
    historical
24. 2011-02-24
    historical
25. 2011-02-08
    listed Active
26. 2011-02-08
    listed $75,000
27. 2007-07-02
    soldstatus $160,000
28. 2007-06-19
    soldstatus $160,000
29. 2007-05-21
    historical
30. 2007-04-30
    listed $160,000
31. 2006-10-16
    soldstatus $130,000
32. 2006-10-16
    soldstatus $130,000
33. 1983-09-06
    soldstatus $50,000

ⓘ 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: $4,137 · $345/mo
• Projected year-2 tax: $4,137 · $345/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 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: $27,014
• − Mortgage interest: −$10,083
• − Property taxes: −$4,137
• − Insurance: −$900
• − Repairs & maintenance: −$2,161
• − Management: −$2,161
• − Depreciation: −$5,236
• Taxable income: $2,335
• Est. tax owed @ 24.0%: −$561
• After-tax cash flow: $4,416/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): 27,346
• Household income: $62,650
• Rent vs Own: 44.8% rent · 55.2% own
• Severe rent burden: 1103.0

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 (76%)
• Race & ethnicity: Black 76% White 12% Asian 4% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Lithuanian 1% Romanian 1% Russian 1%
• Foreign-born: 10% · Canada, United Kingdom, China
• Languages at home: 88% English-only · Other Indo-European 3% Spanish 2% French/Haitian/Cajun 2%

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: ▼ -164.48%
• Current HPI: 258.094
• Rent YoY: ▲ 2.86%
• 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

+260.0% since first listed

19 events — show timeline

• 2026-02-19 Listed $180,000 BRIGHT MLS
• 2014-11-11 Delisted — MRIS
• 2014-11-05 Sold (MLS) $47,500 BRIGHT MLS
• 2014-11-05 Sold (MLS) $47,500 MRIS
• 2014-06-09 Pending — MRIS
• 2014-06-09 Listing Removed — BRIGHT MLS
• 2014-04-13 Listed $59,900 MRIS
• 2014-04-13 Listed $59,900 BRIGHT MLS
• 2011-02-24 Listing Removed — BRIGHT MLS
• 2011-02-24 Delisted — MRIS
• 2011-02-08 Listed — MRIS
• 2011-02-08 Listed $75,000 BRIGHT MLS
• 2007-07-02 Sold (Public Records) $160,000 Public Records
• 2007-06-19 Sold (MLS) $160,000 MRIS
• 2007-05-21 Delisted — MRIS
• 2007-04-30 Listed $160,000 MRIS
• 2006-10-16 Sold (Public Records) $130,000 Public Records
• 2006-10-16 Sold (Public Records) $130,000 Public Records
• 1983-09-06 Sold (Public Records) $50,000 Public Records

Property tax history

+1.7%/yr

Latest (2025): $4,137 · +4.8% YoY. Source: county tax records.