4140 Reisterstown Rd · Baltimore, MD 21215

$112,500

3 bd · 2.5 ba · 2,150 sqft · Townhouse · 234 Days on market

Built 1920 1,402 sqft lot ↓ 58% 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
• ARV discount +7.5/15.0
• 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

Welcome to this updated townhome in the neighborhood of Towanda-Grantley. Step inside and you will be greeted with an open concept floor plan with luxury vinyl plank flooring and conferred ceiling. The kitchen features stainless steel appliances, nice backsplash, quartz countertops and white shaker cabinetry. When you venture to the upper level, you will find a primary bedroom with accent wall, a full bath with quartz stone walls & flooring and two more bedrooms. The walkout lower level is finished and consists of a spacious recreation room with carpet floors, a utility room and full bathroom with a stall shower. The concrete private backyard is perfect for outdoor entertainment and

Key facts

• Quartz countertops
• Finished lower level
• Built 1920

Tags

• OPEN CONCEPT FLOOR PLAN
• LUXURY VINYL PLANK FLOORING
• STAINLESS STEEL APPLIANCES
• QUARTZ COUNTERTOPS
• WHITE SHAKER CABINETRY
• FINISHED LOWER LEVEL

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $112k.

Deal economics

• At list price, monthly cash flow is $815 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $112k).
• Recommended offer: $99k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.0% 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 (+2.4%/yr); 351 active listings in the ZIP; 21 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).
• At $1,999/mo this rent would consume 46% of the median local household income ($52k/yr) (locally 3644% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $778 of loan paydown is wiped out by about $3k 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 + 2.4% rent growth), your $32k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 234 days — a 12% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 26y ago; this cycle's ask has dropped $47k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $99,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 234 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 1920 — 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: 1.78% ✓
• Cap rate: 14.99%
• Cash-on-cash: 31.05%
• DSCR: 2.38
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $230,050
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3304 Dorithan Rd	0.35mi	4/2.0 (+1)	2,178 (+1%)	11mo	$106,000	$49	66
4043 Cedardale Rd	0.21mi	4/3.5 (+1)	1,997 (-7%)	6mo	$257,900	$129	64
4668 Pimlico Rd	0.61mi	3/2.5	2,100 (-2%)	4mo	$185,000	$88	64
2627 Loyola Northway	0.27mi	4/3.5 (+1)	1,900 (-12%)	2mo	$250,000	$132	57
4333 Pimlico Rd	0.26mi	4/2.5 (+1)	2,430 (+13%)	7mo	$245,000	$101	55
2629 Loyola Southway	0.24mi	4/3.5 (+1)	1,950 (-9%)	12mo	$275,000	$141	55
3512 Reisterstown Rd	0.63mi	4/1.0 (+1)	2,145 (-0%)	7mo	$59,900	$28	53
3324 Dolfield Ave	0.42mi	4/2.5 (+1)	1,952 (-9%)	12mo	$301,000	$154	50
3706 Overview Rd	0.47mi	4/3.5 (+1)	1,870 (-13%)	0mo	$220,000	$118	47
4002 Ayrdale Ave	0.71mi	4/3.0 (+1)	2,345 (+9%)	2mo	$250,000	$107	43
3701 Manchester Ave	0.73mi	4/2.5 (+1)	1,900 (-12%)	4mo	$170,000	$89	38
2800 Suffolk Ave	0.70mi	4/2.0 (+1)	1,881 (-12%)	2mo	$37,500	$20	38

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: 25.2%
• Equity multiple: 2.03×
• Total profit: $32,516
• Equity at exit: $16,774

10-year hold

• IRR: 32.6%
• Equity multiple: 3.87×
• Total profit: $90,455
• Equity at exit: $9,727

Cash invested: $31,500 (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: 4.7×

Monthly cashflow live

• Estimated rent: $1,999 high
• Mortgage (P&I): −$590
• Tax from tax record: −$127 /mo · $1,529/yr
• Insurance: −$47
• HOA: −$0
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $815

Break-even live

Break-even rent $967

Max offer price $112,500

Occupancy floor 54%

Sensitivity live

Price	-10% $879	-5% $847	+0% $815	+5% $783	+10% $751
Rent	-10% $657	-5% $736	+0% $815	+5% $894	+10% $973
Rate	-1.0pp $872	-0.5pp $844	base $815	+0.5pp $786	+1.0pp $756

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: $28,125
• Closing costs: $3,375
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4230 Towanda Ave Baltimore, MD	3.0	2.0	1400	$1,800	$1.29	18d	1	0.10mi
2619 Loyola Northway Baltimore, MD	3.0	2.0	1400	$1,995	$1.43	24d	1	0.28mi
3204 Sequoia Ave Baltimore, MD	4.0	2.5	1791	$2,600	$1.45	44d	1	0.51mi
4704 Pimlico Rd Baltimore, MD	3.0	1.5	2006	$1,800	$0.90	24d	1	0.67mi
3213 Dorchester Rd Baltimore, MD	2.0	1.0	2640	$1,850	$0.70	24d	1	0.76mi
3600 Malden Ave Baltimore, MD	2.0	1.0	2256	$1,999	$0.89	44d	1	0.86mi
2805 Oakley Ave Baltimore, MD	2.0	1.0	2400	$1,500	$0.62	15d	1	0.87mi
3632 Parkdale Ave Baltimore, MD	3.0	1.0	1400	$3,000	$2.14	44d	1	0.94mi
2078 Druid Park Dr Baltimore, MD	2.0	3.0	1500	$2,500	$1.67	44d	1	0.98mi
2078 Druid Park Dr Unit 4 Baltimore, MD	2.0	2.5	1500	$2,500	$1.67	44d	1	0.99mi
2001 W Cold Spring Ln Baltimore, MD	1.0–3.0	1.0–2.0	1154	$3,505	$3.04	2d	31	1.04mi
4320 Roland Heights Ave Baltimore, MD	3.0	2.5	1800	$3,300	$1.83	18d	1	1.08mi
4322 Roland Heights Ave Baltimore, MD	3.0	3.0	1800	$3,000	$1.67	44d	1	1.08mi
2305 Wichita Ave Unit 1 Baltimore, MD	3.0	1.0	1950	$1,300	$0.67	24d	1	1.09mi
3411 Fairview Ave Baltimore, MD	2.0	1.0	2949	$1,600	$0.54	18d	1	1.10mi
4319 Medfield Ave Baltimore, MD	3.0	2.5	1800	$3,100	$1.72	44d	1	1.13mi
3914 Maine Ave Unit 3 Baltimore, MD	2.0	1.0	2127	$1,150	$0.54	44d	1	1.18mi
3213 Vickers Rd Unit 1 Baltimore, MD	2.0	1.0	2568	$1,700	$0.66	24d	1	1.30mi
3104 Tioga Pkwy Baltimore, MD	3.0	2.0	1640	$2,050	$1.25	22d	1	1.31mi
3414 Alto Rd Unit 1ST Baltimore, MD	2.0	1.0	2824	$1,850	$0.66	24d	1	1.38mi
3414 Alto Rd Unit 2ND Baltimore, MD	3.0	1.0	2824	$2,000	$0.71	24d	1	1.38mi

Listing history 19 events

1. 2026-03-20
   status Pending
2. 2026-01-21
   price $112,500
3. 2025-12-15
   status Active
4. 2025-10-28
   status Pending
5. 2025-10-01
   price $119,500
6. 2025-08-15
   price $133,500
7. 2025-07-16
   price $148,850
8. 2025-06-11
   listed $159,850 Active
9. 2024-01-12
   status Pending
10. 2024-01-12
    historical
11. 2024-01-01
    price $205,000
12. 2023-11-22
    listed $219,000 Active
13. 2023-06-26
    historical
14. 2023-06-17
    price $249,000
15. 2023-05-23
    listed $270,000 Active
16. 2018-07-10
    historical Withdrawn
17. 2018-06-08
    listed Active
18. 2001-04-01
    historical
19. 2000-09-15
    listed

ⓘ 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: $1,529 · $127/mo
• Projected year-2 tax: $1,529 · $127/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 ≥104°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: $23,988
• − Mortgage interest: −$6,302
• − Property taxes: −$1,529
• − Insurance: −$562
• − Repairs & maintenance: −$1,919
• − Management: −$1,919
• − Depreciation: −$3,273
• Taxable income: $8,484
• Est. tax owed @ 24.0%: −$2,036
• After-tax cash flow: $7,743/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

-58.3% since first listed

19 events — show timeline

• 2026-03-20 Pending — BRIGHT MLS
• 2026-01-21 Price Changed $112,500 BRIGHT MLS
• 2025-12-15 Relisted — BRIGHT MLS
• 2025-10-28 Pending — BRIGHT MLS
• 2025-10-01 Price Changed $119,500 BRIGHT MLS
• 2025-08-15 Price Changed $133,500 BRIGHT MLS
• 2025-07-16 Price Changed $148,850 BRIGHT MLS
• 2025-06-11 Listed $159,850 BRIGHT MLS
• 2024-01-12 Pending — BRIGHT MLS
• 2024-01-12 Listing Removed — BRIGHT MLS
• 2024-01-01 Price Changed $205,000 BRIGHT MLS
• 2023-11-22 Listed $219,000 BRIGHT MLS
• 2023-06-26 Listing Removed — BRIGHT MLS
• 2023-06-17 Price Changed $249,000 BRIGHT MLS
• 2023-05-23 Listed $270,000 BRIGHT MLS
• 2018-07-10 Delisted — MRIS
• 2018-06-08 Listed — MRIS
• 2001-04-01 Delisted — MRIS
• 2000-09-15 Listed — MRIS

Property tax history

+6.3%/yr

Latest (2025): $1,529 · +21.2% YoY. Source: county tax records.