3405 Gwynns Falls Pkwy · Baltimore, MD 21216

$149,900

3 bd · 2.0 ba · 2,304 sqft · Townhouse public records · 13 Days on market

Built 1920 Est $272k · 45% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

INVESTMENT OPPORTUNITY! SPACIOUS SEMI-DETACHED COLONIAL WITH LARGE ROOM SIZES. Features include 3 finished levels, main level with a living room and spacious eat-in kitchen, upper 2 levels have a total of 3 generously sized bedrooms and 2 full baths, and an unfinished basement. Perfect opportunity to renovate and resell or fix up and add to your rental portfolio. Cash or hard money only. Sold As-Is. Buyer responsible for clearing any vacant property notice after settlement if one exists.

Key facts

• Built 1920
• Listed 13 days

Property features AI

Finance

• Other: Above-grade finished area estimated at 2,304
• HOA & community: Ground rent $120 annually; Ownership interest: Ground Rent

Exterior

• Utilities: Public water; Public sewer; Electric hot water; Natural gas for heating; Electric cooling
• Home design: Semi-detached structure; Estimated year built
• Construction: Vinyl siding; Other foundation; Above-grade and below-grade structures
• Exterior features: Not in a federal flood zone

Interior

• Kitchen: Refrigerator; Gas oven/range; Built-in microwave; Dishwasher
• Bedrooms: One bedroom on the first upper level; Two bedrooms on the second upper level
• Bathrooms: Two full bathrooms (one on first upper level, one on second upper level)
• Heating & cooling: Forced air heating (natural gas); Electric cooling (other type)
• Interior features: Unfinished basement; Living room; Dining room; Kitchen
• Laundry & utility: Washer; Dryer; Electric hot water

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $150k.

Deal economics

• At list price, monthly cash flow is $617 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 11.2% 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 (+6.1%/yr); 252 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); lower-income renter base — watch delinquency; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• At $1,949/mo this rent would consume 56% of the median local household income ($42k/yr) (locally 2264% 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 $1k 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 + 6.1% rent growth), your $42k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 8y 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.

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 $149,900

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.30% ✓
• Cap rate: 11.23%
• Cash-on-cash: 17.64%
• DSCR: 1.78
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $271,872
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2111 N Ellamont St	0.25mi	4/2.0 (+1)	2,244 (-3%)	6mo	$265,000	$118	74
2909 Gwynns Falls Pkwy	0.44mi	4/3.5 (+1)	2,304 (0%)	9mo	$272,500	$118	61
1923 N Longwood St N	0.48mi	3/1.0	2,474 (+7%)	5mo	$75,000	$30	57
3804 Woodhaven Ave	0.65mi	4/2.5 (+1)	2,376 (+3%)	1mo	$280,000	$118	57
3121 Gwynns Falls Pkwy	0.24mi	4/3.5 (+1)	2,100 (-9%)	9mo	$285,000	$136	56
2031 N Dukeland St	0.62mi	4/3.0 (+1)	2,200 (-4%)	7mo	$270,000	$123	49
3001 Elgin Ave	0.36mi	4/2.0 (+1)	1,960 (-15%)	7mo	$252,750	$129	48
4015 Duvall Ave	0.69mi	4/2.5 (+1)	2,016 (-12%)	0mo	$225,000	$112	40
2915 Walbrook Ave	0.53mi	3/3.5	1,990 (-14%)	10mo	$245,000	$123	38
1637 N Hilton St	0.51mi	4/3.5 (+1)	2,568 (+12%)	9mo	$269,000	$105	38
2313 Braddish Ave	0.73mi	3/2.0	1,980 (-14%)	8mo	$239,000	$121	35
3032 Chelsea Ter	0.72mi	3/3.5	2,030 (-12%)	9mo	$234,500	$116	33

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 · 6.1% rent growth · sell at horizon

5-year hold

• IRR: 12.3%
• Equity multiple: 1.51×
• Total profit: $21,233
• Equity at exit: $22,351

10-year hold

• IRR: 23.4%
• Equity multiple: 3.30×
• Total profit: $96,341
• Equity at exit: $12,961

Cash invested: $41,972 (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 21216

• Rents YoY: 6.1%
• Active inventory: 252
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,949 high
• Mortgage (P&I): −$786
• Tax from tax record: −$74 /mo · $893/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $617

Break-even live

Break-even rent $1,168

Max offer price $149,900

Occupancy floor 63%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3414 Alto Rd Unit 1ST Baltimore, MD	2.0	1.0	2824	$1,850	$0.66	23d	1	0.25mi
3414 Alto Rd Unit 2ND Baltimore, MD	3.0	1.0	2824	$2,000	$0.71	23d	1	0.25mi
3213 Vickers Rd Unit 1 Baltimore, MD	2.0	1.0	2568	$1,700	$0.66	23d	1	0.32mi
3030 Windsor Ave Baltimore, MD	4.0	1.5	2124	$1,995	$0.94	4d	1	0.34mi
3904 Gwynns Falls Pkwy Baltimore, MD	3.0	2.0	1772	$2,600	$1.47	43d	1	0.37mi
2917 Clifton Ave Baltimore, MD	4.0	4.0	1700	$2,150	$1.26	23d	1	0.50mi
1633 N Hilton St Baltimore, MD	4.0	2.5	1920	$2,600	$1.35	17d	1	0.53mi
3411 Fairview Ave Baltimore, MD	2.0	1.0	2949	$1,600	$0.54	17d	1	0.55mi
2812 Clifton Ave Baltimore, MD	3.0	1.5	1650	$1,850	$1.12	43d	1	0.57mi
1530 N Rosedale St Baltimore, MD	3.0	2.0	1641	$1,895	$1.15	14d	1	0.67mi
1513 N Ellamont St Baltimore, MD	3.0	1.0	1700	$1,700	$1.00	23d	1	0.68mi
3213 Dorchester Rd Baltimore, MD	2.0	1.0	2640	$1,850	$0.70	23d	1	0.83mi
3104 Tioga Pkwy Baltimore, MD	3.0	2.0	1640	$2,050	$1.25	21d	1	0.89mi
3914 Maine Ave Unit 3 Baltimore, MD	2.0	1.0	2127	$1,150	$0.54	43d	1	1.03mi
2405 W North Ave Baltimore, MD	4.0	3.0	1826	$1,900	$1.04	4d	1	1.06mi
3204 Sequoia Ave Baltimore, MD	4.0	2.5	1791	$2,600	$1.45	43d	1	1.09mi
2305 Wichita Ave Unit 1 Baltimore, MD	3.0	1.0	1950	$1,300	$0.67	23d	1	1.15mi
3700 Woodridge Rd Baltimore, MD	3.0	1.5	1955	$1,950	$1.00	43d	1	1.16mi
2128 N Pulaski St Baltimore, MD	4.0	3.0	2166	$2,200	$1.02	43d	1	1.25mi
3324 Edmondson Ave Baltimore, MD	3.0	2.5	2300	$1,995	$0.87	21d	1	1.36mi
3619 Edmondson Ave Baltimore, MD	4.0	3.5	1962	$2,800	$1.43	43d	1	1.41mi
2201 Whittier Ave Baltimore, MD	4.0	2.0	1750	$1,700	$0.97	17d	1	1.42mi
2201 Whittier Ave Baltimore, MD	4.0	2.0	1750	$1,700	$0.97	43d	1	1.42mi
2922 Edmondson Ave Baltimore, MD	3.0	2.0	1620	$1,900	$1.17	43d	1	1.43mi
2301 Whittier Ave Unit 3 Baltimore, MD	2.0	2.0	3132	$1,650	$0.53	23d	1	1.47mi
2301 Whittier Ave Unit 2 Baltimore, MD	2.0	2.0	3132	$1,400	$0.45	23d	1	1.47mi
2301 Whittier Ave Unit 1 Baltimore, MD	2.0	1.0	3132	$1,400	$0.45	23d	1	1.47mi

Listing history 9 events

1. 2026-06-18
   days on market $149,900 Active 13 DOM
2. 2026-06-17
   days on market $149,900 Active 12 DOM
3. 2026-06-16
   days on market $149,900 Active 11 DOM
4. 2026-06-15
   days on market $149,900 Active 10 DOM
5. 2026-06-13
   days on market $149,900 Active 8 DOM
6. 2026-06-09
   days on market $149,900 Active 4 DOM
7. 2026-06-08
   days on market $149,900 Active 3 DOM
8. 2026-06-07
   remarks 493-char remark
9. 2026-06-07
   listed $149,900 Active 2 DOM

ⓘ 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: $893 · $74/mo
• Projected year-2 tax: $1,263 · $105/mo
• Expected delta: +$371/yr (+$31/mo · 41.5%)

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

Taxation est. · year 1

• Rental income: $23,391
• − Mortgage interest: −$8,397
• − Property taxes: −$893
• − Insurance: −$750
• − Repairs & maintenance: −$1,871
• − Management: −$1,871
• − Depreciation: −$4,361
• Taxable income: $5,249
• Est. tax owed @ 24.0%: −$1,260
• After-tax cash flow: $6,144/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): 29,426
• Household income: $42,031
• Rent vs Own: 49.8% rent · 50.2% own
• Severe rent burden: 2264.0

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 (91%)
• Race & ethnicity: Black 91% Hispanic / Latino 4% Two or more races 3% White 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3% French/Haitian/Cajun 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: ▼ -107.42%
• Current HPI: 164.3933
• Rent YoY: ▲ 6.10%
• 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

+199.8% since first listed

18 events — show timeline

• 2026-06-05 Listed $149,900 BRIGHT MLS
• 2024-01-29 Sold (Public Records) $295,000 Public Records
• 2023-07-31 Listing Removed — BRIGHT MLS
• 2023-05-05 Price Changed $189,900 BRIGHT MLS
• 2023-02-03 Price Changed $199,999 BRIGHT MLS
• 2023-01-19 Price Changed $205,000 BRIGHT MLS
• 2023-01-19 Price Changed $205,000 BRIGHT MLS
• 2023-01-19 Price Changed $205,000 BRIGHT MLS
• 2022-11-18 Price Changed $210,000 BRIGHT MLS
• 2022-11-18 Price Changed $210,000 BRIGHT MLS
• 2022-11-18 Price Changed $210,000 BRIGHT MLS
• 2022-09-26 Price Changed $215,000 BRIGHT MLS
• 2022-06-30 Price Changed $230,000 BRIGHT MLS
• 2022-04-18 Listed $275,000 BRIGHT MLS
• 2018-11-15 Sold (Public Records) $355,000 Public Records
• 2018-11-04 Listing Removed — BRIGHT MLS
• 2018-11-03 Listed $50,000 BRIGHT MLS
• 2018-11-01 Sold (MLS) $50,000 BRIGHT MLS

Property tax history

-1.3%/yr

Latest (2025): $893 · +3.6% YoY. Source: county tax records.