3923 Ridgewood Ave · Baltimore, MD 21215

$30,000

3 bd · 1.0 ba · 1,566 sqft · Townhouse public records · 43 Days on market

Built 1910 1,742 sqft lot ↓ 57% since listing

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Why this score? — see what drove the D+ 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 +18.0/30.0
• ARV discount +7.5/15.0
• DSCR +5.7/10.0
• 1% rule +4.8/10.0
• Livability +3.8/5.0
• Rent growth +3.1/5.0
• 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 6/25/2026 @ 10:00 AM. Bidding ends 6/29/2026 @11:50 AM. The list price is the suggested opening bid. Deposit: $5,000. This two-story, porch front townhouse is located in the Dolfield neighborhood of Baltimore city. Residents can enjoy the nearby facilities and attractions such as the Rogers Ave Metro Station and Pimlico Race Track. The property has unknown occupancy. The area provides easy access to major traffic arteries, Garrison Blvd, offering convenient routes to downtown Baltimore and other parts of the metropolitan area. Demolition for the $400 million redevelopment of Pimlic

Key facts

• Built 1910
• Listed 43 days

Property features AI

Finance

• Other: Ownership interest: Ground Rent; Total below-grade area 768; Above-grade finished area 1,566; Below-grade unfinished area 768; Land assessment listed
• Financial info: Ground rent: $85 paid semi-annually; Income/expense note: Annual ground rent

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Interior townhouse/rowhouse; Brick construction
• Construction: Brick exterior; Other foundation; Above grade and below grade structures
• Exterior features: Lot dimensions approximately 24 x 80; Ground rent exists (semi-annual payment)

Interior

• Bedrooms: Three bedrooms on the first upper level
• Bathrooms: One full bathroom
• Heating & cooling: Radiator heat; Electric cooling
• Interior features: Unfinished basement; Living area source: Assessor

🔨 Auction listing. The $30,000 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $179,393 (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 $30k.

Deal economics

• At list price, monthly cash flow is $156 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $30k).
• Recommended offer: $29k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 6.0% in Baltimore — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 (+2.4%/yr); 351 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• This rent runs 41% of the median local income ($52k/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 43 days — a 3% lower offer ($29k) 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.

Risks & watch-outs

• Watch-outs: property tax is 9.0% of price; built in 1910 — 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 $29,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 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 1910 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.98% ✗
• Cap rate: 7.34%
• Cash-on-cash: 3.72%
• DSCR: 1.17
• GRM: 8.5

CMA / ARV

• ARV (median comp): $179,393
• List price: $30,000
• Delta: -83.28%
• 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
3951 Boarman Ave	0.18mi	4/2.5 (+1)	1,588 (+1%)	2mo	$249,000	$157	77
3811 Belle Ave	0.31mi	4/3.0 (+1)	1,616 (+3%)	5mo	$270,000	$167	63
3742 Dolfield Ave	0.34mi	3/2.5	1,724 (+10%)	4mo	$265,000	$154	58
3911 Bareva Rd	0.66mi	4/2.0 (+1)	1,620 (+3%)	0mo	$112,100	$69	54
5118 Nelson Ave	0.53mi	3/2.0	1,386 (-12%)	3mo	$219,000	$158	50
3635 Columbus Dr	0.44mi	3/2.5	1,360 (-13%)	4mo	$125,000	$92	48
5312 Gist Ave	0.71mi	4/2.5 (+1)	1,620 (+3%)	4mo	$240,000	$148	47
4311 Chatham Rd	0.54mi	4/1.5 (+1)	1,404 (-10%)	6mo	$240,000	$171	45
4411 Belvieu Ave	0.64mi	4/2.0 (+1)	1,696 (+8%)	4mo	$190,000	$112	44
4040 Hayward Ave	0.63mi	3/0.5	1,783 (+14%)	4mo	$67,500	$38	42
3716 Beehler Ave	0.60mi	4/4.0 (+1)	1,445 (-8%)	3mo	$265,000	$183	40
2807 Waldorf Ave	0.69mi	3/3.5	1,762 (+12%)	1mo	$200,000	$114	36

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 · 2.41% rent growth · sell at horizon

5-year hold

• IRR: -11.1%
• Equity multiple: 0.60×
• Total profit: $-20,162
• Equity at exit: $26,748

10-year hold

• IRR: -2.7%
• Equity multiple: 0.82×
• Total profit: $-8,899
• Equity at exit: $15,511

Cash invested: $50,230 (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 21215

• Rents YoY: 2.4%
• Active inventory: 351
• Price-to-rent: 1.4×

Monthly cashflow live

• Estimated rent: $1,767 high
• Mortgage (P&I): −$941
• Tax est. 1.5%: −$224 /mo · $2,691/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $156

Break-even live

Break-even rent $1,569

Max offer price $179,393

Occupancy floor 86%

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: $44,848
• Closing costs: $5,382
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4010 Fernhill Ave Unit 2 Baltimore, MD	2.0	1.0	1100	$1,500	$1.36	43d	1	0.14mi
3784 Columbus Dr Baltimore, MD	4.0	2.0	1250	$2,200	$1.76	23d	1	0.36mi
5000 Litchfield Ave #1 Baltimore, MD	2.0	1.0	1100	$1,100	$1.00	43d	1	0.60mi
4828 Beaufort Ave Baltimore, MD	2.0	2.5	1200	$1,850	$1.54	23d	1	0.65mi
3914 Maine Ave Unit 3 Baltimore, MD	2.0	1.0	2127	$1,150	$0.54	43d	1	0.69mi
3508 Grantley Rd Baltimore, MD	2.0	1.0	1250	$1,350	$1.08	23d	1	0.75mi
4230 Towanda Ave Baltimore, MD	3.0	2.0	1400	$1,800	$1.29	17d	1	0.87mi
4704 Pimlico Rd Baltimore, MD	3.0	1.5	2006	$1,800	$0.90	23d	1	1.01mi
3912 Mortimer Ave Baltimore, MD	3.0	2.0	1204	$2,723	$2.26	43d	1	1.03mi
4309 Norfolk Ave Unit 1st Floor Baltimore, MD	2.0	1.0	1470	$1,500	$1.02	11d	1	1.05mi
3807 Bowers Ave Gwynn Oak, MD	3.0	1.5	1152	$2,200	$1.91	43d	1	1.06mi
3204 Sequoia Ave Baltimore, MD	4.0	2.5	1791	$2,600	$1.45	43d	1	1.06mi
5340 Maple Ave Baltimore, MD	2.0	1.0	1200	$1,950	$1.62	43d	1	1.07mi
5807 Gist Ave Baltimore, MD	2.0	1.5	2100	$1,395	$0.66	23d	1	1.12mi
2915 Oakford Ave Baltimore, MD	3.0	2.0	1102	$1,600	$1.45	17d	1	1.14mi
2619 Loyola Northway Baltimore, MD	3.0	2.0	1400	$1,995	$1.43	23d	1	1.16mi
5115 Pembridge Ave Baltimore, MD	3.0	2.0	1088	$2,150	$1.98	43d	1	1.21mi
2454 W Cold Spring Ln Baltimore, MD	3.0	1.0	1200	$1,650	$1.38	23d	1	1.27mi
3403 Carlisle Ave Apt 1 Baltimore, MD	2.0	1.0	1100	$1,600	$1.45	11d	1	1.32mi
3822 Pall Mall Rd Baltimore, MD	3.0	1.5	1320	$1,875	$1.42	43d	1	1.34mi
2415 Loyola Southway Baltimore, MD	3.0	1.5	1200	$2,033	$1.69	43d	1	1.35mi

Listing history 21 events

1. 2026-06-18
   days on market $30,000 Active 43 DOM
2. 2026-06-17
   days on market $30,000 Active 42 DOM
3. 2026-06-16
   days on market $30,000 Active 41 DOM
4. 2026-06-15
   days on market $30,000 Active 40 DOM
5. 2026-06-13
   days on market $30,000 Active 38 DOM
6. 2026-06-09
   days on market $30,000 Active 34 DOM
7. 2026-06-08
   days on market $30,000 Active 33 DOM
8. 2026-06-07
   days on market $30,000 Active 32 DOM
9. 2026-06-04
   days on market $30,000 Active 29 DOM
10. 2026-06-03
    days on market $30,000 Active 28 DOM
11. 2026-06-02
    days on market $30,000 Active 27 DOM
12. 2026-06-01
    days on market $30,000 Active 26 DOM
13. 2026-05-31
    days on market $30,000 Active 25 DOM
14. 2026-05-06
    listed $30,000 Active 1021-char remark
15. 2025-11-03
    status Pending
16. 2025-11-03
    historical
17. 2025-10-09
    price $45,000
18. 2025-09-19
    price $51,000
19. 2025-09-03
    price $54,999
20. 2025-08-25
    price $63,999
21. 2025-07-14
    listed $70,000 Active

ⓘ 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 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: $21,198
• − Mortgage interest: −$10,049
• − Property taxes: −$2,691
• − Insurance: −$897
• − Repairs & maintenance: −$1,696
• − Management: −$1,696
• − Depreciation: −$5,219
• Taxable loss: −$1,049
• Est. tax savings @ 24.0%: +$252
• After-tax cash flow: $2,121/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): 52,229
• Household income: $51,587
• Rent vs Own: 45.2% rent · 54.8% own
• Severe rent burden: 3644.0

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 17% Hispanic / Latino 5% Two or more races 4% Asian 1%
• Common ancestry: Scotch-Irish 2% Romanian 2% Italian 1%
• Foreign-born: 9% · Canada, South Korea
• Languages at home: 91% English-only · Spanish 4% French/Haitian/Cajun 1% 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: ▼ -318.58%
• Current HPI: 291.4926
• Rent YoY: ▲ 2.41%
• 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

-57.1% since first listed

8 events — show timeline

• 2026-05-06 Listed $30,000 BRIGHT MLS
• 2025-11-03 Pending — BRIGHT MLS
• 2025-11-03 Listing Removed — BRIGHT MLS
• 2025-10-09 Price Changed $45,000 BRIGHT MLS
• 2025-09-19 Price Changed $51,000 BRIGHT MLS
• 2025-09-03 Price Changed $54,999 BRIGHT MLS
• 2025-08-25 Price Changed $63,999 BRIGHT MLS
• 2025-07-14 Listed $70,000 BRIGHT MLS

Property tax history

+0.5%/yr

Latest (2025): $2,539 · +8.7% YoY. Source: county tax records.