3496 Dolfield Ave · Baltimore, MD 21215

$123,000

3 bd · 1.0 ba · 1,380 sqft · Townhouse public records · 1 Days on market

Built 1935 Est $210k · 41% 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 +28.9/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• 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

HUD Case # 241-947673 . Equal Housing Opportunity. Subject is UI(Uninsured Escrow) to appraisal and may qualify for FHA financing with a repair escrow, seller may contribute up to 3% of buyer’s closing cost. HUD compensates HUD registered selling agents up to 3% of the gross sales price. HUD property, sold fully as-is. Please visit www. Hudhomestore.com for offer instructions, availability, property condition report. Information provided must be verified by all prospective purchasers. Buyer is responsible for utility activation and de-winterization. All transfer taxes to be paid by the buyer. Charming 3 bedroom 1 and a half bath home located in much sought after neighborhood. This pro

Key facts

• Built 1935

Property features AI

Finance

• Other: Finished above-grade area per assessor; Unfinished below-grade area

Exterior

• Parking: On-street parking
• Utilities: Public water; Public septic; 60+ gallon hot water tank
• Home design: Interior townhouse/rowhouse
• Construction: Brick construction; Brick/mortar foundation; Year built per assessor
• Exterior features: Not on tidal water; Below-grade and above-grade structures

Interior

• Bedrooms: 3 bedrooms on main level
• Bathrooms: 1 full bathroom on main level; 1 half bathroom on main level
• Heating & cooling: Radiator heating (natural gas); Cooling system (natural gas)
• Interior features: Full basement; Two or more access exits

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $123k.

Deal economics

• At list price, monthly cash flow is $416 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $123k).
• Cap rate 10.4% 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; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $850 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 + 2.4% rent growth), your $34k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1935 — 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 $123,000

Questions for the listing agent

1. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.44% ✓
• Cap rate: 10.35%
• Cash-on-cash: 14.49%
• DSCR: 1.64
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $209,760
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3206 Yosemite Ave	0.48mi	3/1.5	1,360 (-1%)	2mo	$215,000	$158	72
3741 Boarman Ave	0.29mi	3/1.0	1,280 (-7%)	3mo	$115,000	$90	72
3906 Grantley Rd	0.09mi	3/1.5	1,178 (-15%)	1mo	$127,000	$108	69
4027 Annellen Rd	0.25mi	4/2.0 (+1)	1,452 (+5%)	3mo	$220,900	$152	68
3701 Columbus Dr	0.28mi	3/1.0	1,200 (-13%)	4mo	$108,000	$90	62
3709 Columbus Dr	0.31mi	3/1.5	1,200 (-13%)	0mo	$133,900	$112	62
3927 Cedardale Rd	0.17mi	3/2.0	1,578 (+14%)	4mo	$208,000	$132	61
2523 Boarman Ave	0.65mi	3/1.0	1,450 (+5%)	3mo	$82,500	$57	59
4023 Reisterstown Rd	0.47mi	4/4.0 (+1)	1,400 (+1%)	2mo	$250,000	$179	57
4041 W Cold Spring Ln	0.70mi	3/2.5	1,310 (-5%)	1mo	$239,900	$183	52
3716 Columbus Dr	0.33mi	4/2.0 (+1)	1,200 (-13%)	3mo	$242,000	$202	52
3716 Beehler Ave	0.60mi	4/4.0 (+1)	1,445 (+5%)	3mo	$265,000	$183	45

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: 4.3%
• Equity multiple: 1.16×
• Total profit: $5,624
• Equity at exit: $18,340

10-year hold

• IRR: 13.2%
• Equity multiple: 2.02×
• Total profit: $35,212
• Equity at exit: $10,635

Cash invested: $34,440 (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: 5.8×

Monthly cashflow live

• Estimated rent: $1,771 high
• Mortgage (P&I): −$645
• Tax from tax record: −$287 /mo · $3,446/yr
• Insurance: −$51
• HOA: −$0
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $416

Break-even live

Break-even rent $1,245

Max offer price $123,000

Occupancy floor 72%

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: $30,750
• Closing costs: $3,690
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4230 Towanda Ave Baltimore, MD	3.0	2.0	1400	$1,800	$1.29	17d	1	0.33mi
3508 Grantley Rd Baltimore, MD	2.0	1.0	1250	$1,350	$1.08	24d	1	0.41mi
3784 Columbus Dr Baltimore, MD	4.0	2.0	1250	$2,200	$1.76	24d	1	0.45mi
3204 Sequoia Ave Baltimore, MD	4.0	2.5	1791	$2,600	$1.45	43d	1	0.48mi
3735 Manchester Ave Baltimore, MD	2.0	1.0	1000	$1,350	$1.35	4d	1	0.60mi
2619 Loyola Northway Baltimore, MD	3.0	2.0	1400	$1,995	$1.43	24d	1	0.66mi
4828 Beaufort Ave Baltimore, MD	2.0	2.5	1200	$1,850	$1.54	24d	1	0.68mi
2915 Oakford Ave Baltimore, MD	3.0	2.0	1102	$1,600	$1.45	17d	1	0.72mi
3822 Pall Mall Rd Baltimore, MD	3.0	1.5	1320	$1,875	$1.42	43d	1	0.73mi
4010 Fernhill Ave Unit 2 Baltimore, MD	2.0	1.0	1100	$1,500	$1.36	43d	1	0.77mi
3915 Liberty Heights Ave Gwynn Oak, MD	1.0–2.0	1.0–2.0	680	$1,345	$1.98	12d	5	0.77mi
2415 Loyola Southway Baltimore, MD	3.0	1.5	1200	$2,033	$1.69	43d	1	0.80mi
5000 Litchfield Ave #1 Baltimore, MD	2.0	1.0	1100	$1,100	$1.00	43d	1	0.80mi
2454 W Cold Spring Ln Baltimore, MD	3.0	1.0	1200	$1,650	$1.38	24d	1	0.81mi
2824 Edgecombe Cir S Baltimore, MD	2.0	2.0	950	$1,475	$1.55	21d	1	0.83mi
2530 Edgecombe Cir N Baltimore, MD	2.0–3.0	1.0	920	$1,325	$1.44	2d	4	1.01mi
3617 Mohawk Ave Baltimore, MD	2.0	1.0	1000	$1,595	$1.59	43d	1	1.03mi
3615 Mohawk Ave Gwynn Oak, MD	2.0	1.0	1000	$1,610	$1.61	43d	1	1.03mi
3403 Carlisle Ave Apt 1 Baltimore, MD	2.0	1.0	1100	$1,600	$1.45	11d	1	1.03mi
4714 Greenspring Ave Baltimore, MD	2.0	1.0	890	$1,295	$1.46	43d	1	1.07mi
3001 Carlisle Ave Baltimore, MD	3.0	1.0	1024	$1,300	$1.27	43d	1	1.10mi
2738 N Longwood St Baltimore, MD	3.0	1.0	1024	$1,399	$1.37	43d	1	1.11mi
2742 N Rosedale St Baltimore, MD	3.0	1.0	1024	$1,350	$1.32	43d	2	1.12mi
5343 Nelson Ave Baltimore, MD	2.0	1.0	1000	$1,215	$1.22	24d	1	1.18mi
5115 Pembridge Ave Baltimore, MD	3.0	2.0	1088	$2,150	$1.98	43d	1	1.18mi
4309 Norfolk Ave Unit 1st Floor Baltimore, MD	2.0	1.0	1470	$1,500	$1.02	11d	1	1.21mi
5301 Maple Ave Baltimore, MD	3.0	1.0	960	$1,700	$1.77	43d	1	1.23mi
3028 Hanlon Ave Baltimore, MD	3.0	2.0	1200	$1,711	$1.43	24d	1	1.24mi
5340 Maple Ave Baltimore, MD	2.0	1.0	1200	$1,950	$1.62	43d	1	1.27mi
2080 Rockrose Ave Unit 2080-201 Baltimore, MD	2.0	2.0	1080	$2,100	$1.94	24d	1	1.28mi
2910 Reisterstown Rd Baltimore, MD	1.0–3.0	1.0	950	$1,414	$1.49	14d	4	1.29mi
3632 Parkdale Ave Baltimore, MD	3.0	1.0	1400	$3,000	$2.14	43d	1	1.29mi
2078 Druid Park Dr Baltimore, MD	2.0	3.0	1500	$2,500	$1.67	43d	1	1.33mi
2078 Druid Park Dr Unit 4 Baltimore, MD	2.0	2.5	1500	$2,500	$1.67	43d	1	1.33mi
3727 Milford Ave Gwynn Oak, MD	3.0	1.0	900	$1,450	$1.61	43d	1	1.34mi
3601 Howard Park Ave Unit 2 Baltimore, MD	3.0	1.0	1000	$1,650	$1.65	43d	1	1.34mi
3104 Tioga Pkwy Baltimore, MD	3.0	2.0	1640	$2,050	$1.25	21d	1	1.35mi
2001 W Cold Spring Ln Baltimore, MD	1.0–3.0	1.0–2.0	1154	$3,505	$3.04	1d	31	1.43mi
3904 Gwynns Falls Pkwy Baltimore, MD	3.0	2.0	1772	$2,600	$1.47	43d	1	1.45mi
4320 Roland Heights Ave Baltimore, MD	3.0	2.5	1800	$3,300	$1.83	17d	1	1.47mi

Listing history 2 events

1. 2026-06-19
   remarks 693-char remark
2. 2026-06-19
   listed $123,000 Active 1 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: $3,446 · $287/mo
• Projected year-2 tax: $3,446 · $287/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 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $21,256
• − Mortgage interest: −$6,890
• − Property taxes: −$3,446
• − Insurance: −$615
• − Repairs & maintenance: −$1,700
• − Management: −$1,700
• − Depreciation: −$3,578
• Taxable income: $3,326
• Est. tax owed @ 24.0%: −$798
• After-tax cash flow: $4,193/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

+0.0% since first listed

2 events — show timeline

• 2026-06-19 Listed $123,000 BRIGHT MLS
• 2026-06-18 Coming Soon $123,000 BRIGHT MLS

Property tax history

+2.3%/yr

Latest (2025): $3,446 · +22.1% YoY. Source: county tax records.