3524 Lyndale Ave · Baltimore, MD 21213

$90,000

3 bd · 2.0 ba · 1,500 sqft · Townhouse public records

Built 1942 1,800 sqft lot Est $135k · 33% under

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Why this score? — see what drove the A- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +4.7/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0

Listing remarks

Listed and sold simultaneously.

Key facts

• Built 1942

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $90k.

Deal economics

• At list price, monthly cash flow is $759 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Cap rate 16.4% 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 fast (+5.2%/yr); 319 active listings in the ZIP; 40 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 43% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $111 of equity ($622 loan paydown + $-511 appreciation (-0.6% local appreciation)).
• Baltimore County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-0.6% appreciation + 5.2% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $70k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1942 — 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 $90,000

Questions for the listing agent

1. Built in 1942 — 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: 2.06% ✓
• Cap rate: 16.41%
• Cash-on-cash: 36.14%
• DSCR: 2.61
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $135,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3564 Elmora Ave	0.09mi	3/1.5	1,478 (-2%)	1mo	$133,500	$90	90
3620 Erdman Ave	0.11mi	3/2.0	1,600 (+7%)	2mo	$120,000	$75	82
3533 Elmley Ave	0.03mi	3/1.5	1,344 (-10%)	1mo	$70,000	$52	78
3114 Mareco Ave	0.29mi	3/2.0	1,410 (-6%)	2mo	$125,000	$89	75
3444 Belair Rd	0.46mi	3/2.0	1,428 (-5%)	2mo	$131,000	$92	68
3733 Ravenwood Ave	0.33mi	3/2.0	1,350 (-10%)	1mo	$135,000	$100	68
2846 Lake Ave	0.48mi	4/2.5 (+1)	1,455 (-3%)	2mo	$235,000	$162	64
3571 Dudley Ave	0.56mi	3/2.0	1,400 (-7%)	1mo	$175,000	$125	62
3406 Ramona Ave	0.62mi	3/2.0	1,408 (-6%)	0mo	$85,000	$60	60
2902 Clifton Park Ter	0.46mi	3/1.5	1,344 (-10%)	1mo	$66,000	$49	59
1418 N Linwood Ave	0.69mi	3/1.0	1,356 (-10%)	0mo	$90,000	$66	48
1411 Kenhill Ave	0.71mi	4/2.0 (+1)	1,356 (-10%)	1mo	$240,000	$177	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.57% appreciation · 5.25% rent growth · sell at horizon

5-year hold

• IRR: 38.5%
• Equity multiple: 2.89×
• Total profit: $47,692
• Equity at exit: $23,606

10-year hold

• IRR: 43.5%
• Equity multiple: 6.23×
• Total profit: $131,696
• Equity at exit: $26,430

Cash invested: $25,200 (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 21213

• Home prices YoY: -0.1%
• Rents YoY: 5.2%
• Active inventory: 319
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,852 high
• Mortgage (P&I): −$472
• Tax from tax record: −$195 /mo · $2,334/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $759

Break-even live

Break-even rent $891

Max offer price $90,000

Occupancy floor 54%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3551 Elmley Ave Baltimore, MD	3.0	1.5	1872	$2,095	$1.12	24d	1	0.02mi
3512 Elmora Ave Baltimore, MD	3.0	1.5	1472	$1,900	$1.29	20d	1	0.09mi
3610 Elmley Ave Baltimore, MD	2.0	1.5	1200	$1,550	$1.29	20d	1	0.12mi
3603 Ravenwood Ave Unit 1 Baltimore, MD	4.0	1.0	1566	$1,600	$1.02	43d	1	0.22mi
3914 Erdman Ave #1 Baltimore, MD	3.0	1.0	1200	$1,319	$1.10	17d	1	0.23mi
3525 Kentucky Ave Baltimore, MD	3.0	1.5	1536	$1,950	$1.27	43d	1	0.26mi
3519 Kentucky Ave Baltimore, MD	3.0	2.0	1536	$2,100	$1.37	11d	1	0.26mi
3335 Lyndale Ave Baltimore, MD	2.0	2.0	1344	$1,600	$1.19	24d	1	0.28mi
4104 Erdman Ave Unit 2 Baltimore, MD	2.0	1.0	1566	$1,075	$0.69	4d	1	0.29mi
3326 Elmora Ave Baltimore, MD	3.0	1.0	1200	$1,450	$1.21	24d	1	0.29mi
3005 Belair Rd Baltimore, MD	3.0	2.0	2000	$1,600	$0.80	17d	1	0.31mi
3222 Lyndale Ave Unit 1 Baltimore, MD	3.0	1.5	1500	$2,200	$1.47	12d	1	0.36mi
3572 Juneway Unit 1 Baltimore, MD	2.0	1.0	1800	$1,200	$0.67	43d	1	0.37mi
3213 Elmley Ave Baltimore, MD	2.0	1.0	1188	$1,395	$1.17	43d	1	0.38mi
3544 Chesterfield Ave Baltimore, MD	3.0	1.5	1200	$1,635	$1.36	43d	1	0.44mi
2113 Belair Rd Baltimore, MD	3.0	1.0	1344	$1,795	$1.34	43d	1	0.46mi
2828 Lake Ave Baltimore, MD	3.0	2.0	1164	$1,850	$1.59	4d	1	0.48mi
3436 Cardenas Ave Baltimore, MD	2.0	1.0	1146	$1,395	$1.22	43d	1	0.53mi
3305 Dudley Ave Baltimore, MD	3.0	2.0	1413	$1,950	$1.38	43d	1	0.53mi
3300 Dudley Ave Baltimore, MD	4.0	2.0	1724	$2,200	$1.28	43d	1	0.55mi
3028 Kenyon Ave Baltimore, MD	2.0	2.0	1075	$1,395	$1.30	43d	1	0.55mi
2837 Pelham Ave Baltimore, MD	4.0	2.0	1164	$1,675	$1.44	43d	1	0.55mi
2848 Pelham Ave Baltimore, MD	3.0	2.0	1164	$1,700	$1.46	43d	1	0.56mi
2817 Pelham Ave Baltimore, MD	3.0	2.0	1464	$1,950	$1.33	24d	1	0.57mi
3027 Shannon Dr Baltimore, MD	3.0	2.0	1950	$2,500	$1.28	43d	1	0.58mi
3573 Shannon Dr Baltimore, MD	4.0	2.0	1493	$2,300	$1.54	17d	1	0.60mi
3515 Parklawn Ave Baltimore, MD	3.0	2.0	1240	$1,700	$1.37	2d	1	0.61mi
3551 Shannon Dr Baltimore, MD	3.0	2.0	1485	$2,358	$1.59	24d	1	0.61mi
2735 Chesterfield Ave Baltimore, MD	3.0	2.5	1536	$2,000	$1.30	11d	1	0.67mi
4300 Orchard Ridge Blvd Baltimore, MD	1.0–3.0	1.0–2.0	1021	$1,809	$1.77	43d	1	0.69mi
4116 Raymonn Ave Baltimore, MD	3.0	1.5	1244	$1,950	$1.57	43d	1	0.73mi
1403 N Linwood Ave Baltimore, MD	3.0	2.0	1660	$1,995	$1.20	43d	1	0.73mi
1829 N Port St Baltimore, MD	3.0	1.5	2000	$1,625	$0.81	43d	1	0.76mi
2522 E Federal St Baltimore, MD	2.0	2.0	1760	$1,400	$0.80	43d	1	0.79mi
1323 N Kenwood Ave Unit 1 Baltimore, MD	2.0	1.5	1060	$1,350	$1.27	24d	1	0.81mi
4244 Shamrock Ave Baltimore, MD	3.0	1.5	1920	$1,850	$0.96	24d	1	0.81mi
2621 E Oliver St Baltimore, MD	3.0	2.0	1600	$1,700	$1.06	24d	1	0.81mi
1215 N Ellwood Ave Baltimore, MD	3.0	1.0	1128	$1,795	$1.59	24d	1	0.81mi
4320 Sheldon Ave Baltimore, MD	3.0	1.5	1280	$1,800	$1.41	24d	1	0.84mi
2626 E Preston St Baltimore, MD	3.0	1.0	1136	$1,800	$1.58	43d	1	0.90mi

Listing history 4 events

1. 2026-05-23
   listed $90,000
2. 2026-05-23
   historical
3. 1991-06-17
   soldstatus $69,900
4. 1987-07-07
   soldstatus $50,750

ⓘ 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: $2,334 · $195/mo
• Projected year-2 tax: $2,334 · $195/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 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,221
• − Mortgage interest: −$5,041
• − Property taxes: −$2,334
• − Insurance: −$450
• − Repairs & maintenance: −$1,778
• − Management: −$1,778
• − Depreciation: −$2,618
• Taxable income: $8,222
• Est. tax owed @ 24.0%: −$1,973
• After-tax cash flow: $7,134/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): 28,058
• Household income: $51,344
• Rent vs Own: 48.0% rent · 52.0% own
• Severe rent burden: 1868.0

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 (86%)
• Race & ethnicity: Black 86% White 6% Hispanic / Latino 4% Two or more races 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -0.57%
• Current HPI: 427.4453
• Rent YoY: ▲ 5.25%
• 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

+77.3% since first listed

4 events — show timeline

• 2026-05-23 Listing Removed — BRIGHT MLS
• 2026-05-23 Listed $90,000 BRIGHT MLS
• 1991-06-17 Sold (Public Records) $69,900 Public Records
• 1987-07-07 Sold (Public Records) $50,750 Public Records

Property tax history

-0.8%/yr

Latest (2025): $2,334 · +308.8% YoY. Source: county tax records.