2444 W Cold Spring Ln · Baltimore, MD 21215

$100,000

3 bd · 1.0 ba · 1,350 sqft · Townhouse public records · 38 Days on market

Built 1948 1,620 sqft lot $74/sqft · 59% below area

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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

* * * Please submit your highest and best offer by Sunday, May 31st at noon * * * This 3 bedroom, 1 full and 1 half bath brick home offers a great opportunity for buyers seeking value and potential, and is being sold as-is while still presenting well throughout. A covered front porch welcomes you into a bright living room, where windows allow natural light to fill the  home. The kitchen is equipped with gas cooking, a double sink, ceiling fan, and provides direct access to the rear fenced, paved yard—ideal for outdoor enjoyment and convenience. The main level also includes a dedicated dining room, perfect for everyday meals or entertaining. Upstairs, you’ll find three c

Key facts

• Covered front porch
• Rear fenced yard
• Ceiling fan

Tags

• COVERED FRONT PORCH
• BRIGHT LIVING ROOM
• GAS COOKING
• DOUBLE SINK
• CEILING FAN
• REAR FENCED YARD

Property features AI

Finance

• Other: Total below-grade area: 540; Above-grade finished area: 1,080; Below-grade finished area: 270; Below-grade unfinished area: 270; Land assessed value listed; Improvement assessed value listed
• Financial info: Ownership interest: Ground rent (paid semi-annually); Ground rent amount: $90

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Oil hot water
• Home design: Detached property
• Construction: Brick construction; Other foundation; Fully finished basement with interior access, connecting stairway and windows
• Exterior features: Awnings; Rear fencing; Porch(es) with brick

Interior

• Kitchen: Gas oven/range; Refrigerator
• Bedrooms: Three bedrooms on the upper level
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Radiator heating (oil-fired); Window air conditioning units; Ceiling fans for cooling
• Interior features: Ceiling fans; Traditional floor plan; Formal separate dining room; Dining area; Tub with shower; Window treatments

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $100k.

Deal economics

• At list price, monthly cash flow is $607 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.2% 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 (+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 43% 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 $691 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 $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $37k; list at $100k implies a 170% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; flood insurance adds $56/mo; built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; 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 $97,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 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 1948 — 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 1.84% ✓
• Cap rate: 14.24%
• Cash-on-cash: 28.40%
• DSCR: 2.26
• GRM: 4.5

CMA / ARV

• ARV (median comp): $246,653
• List price: $100,000
• Delta: -59.46%
• 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
2523 Boarman Ave	0.19mi	3/1.0	1,450 (+7%)	3mo	$82,500	$57	76
2644 Oswego Ave	0.32mi	3/2.5	1,299 (-4%)	5mo	$205,000	$158	68
3026 Virginia Ave	0.49mi	3/1.0	1,442 (+7%)	3mo	$75,000	$52	63
2361 Sundew Ter #2361	0.51mi	3/2.5	1,298 (-4%)	3mo	$181,000	$139	61
2531 Boarman Ave	0.20mi	4/2.5 (+1)	1,479 (+10%)	4mo	$254,000	$172	60
2312 Pennyroyal Ter	0.60mi	3/2.5	1,305 (-3%)	3mo	$185,000	$142	58
4023 Reisterstown Rd	0.47mi	4/4.0 (+1)	1,400 (+4%)	2mo	$250,000	$179	53
3654 Malden Ave	0.74mi	3/1.5	1,431 (+6%)	3mo	$254,000	$177	51
4027 Annellen Rd	0.71mi	4/2.0 (+1)	1,452 (+8%)	3mo	$220,900	$152	43
4029 Cedardale Rd	0.69mi	4/2.0 (+1)	1,452 (+8%)	5mo	$120,000	$83	42
2227 Clove Ter	0.47mi	2/2.0 (-1)	1,150 (-15%)	4mo	$153,500	$133	40
4903 Chalgrove Ave	0.74mi	3/2.0	1,536 (+14%)	2mo	$187,000	$122	37

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: 19.1%
• Equity multiple: 1.77×
• Total profit: $21,494
• Equity at exit: $14,910

10-year hold

• IRR: 27.0%
• Equity multiple: 3.31×
• Total profit: $64,596
• Equity at exit: $8,646

Cash invested: $28,000 (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: 4.5×

Monthly cashflow live

• Estimated rent: $1,842 high
• Mortgage (P&I): −$524
• Tax from tax record: −$226 /mo · $2,718/yr
• Insurance: −$42
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $607

Break-even live

Break-even rent $1,074

Max offer price $100,000

Occupancy floor 62%

Sensitivity live

Price	-10% $664	-5% $635	+0% $607	+5% $579	+10% $550
Rent	-10% $462	-5% $534	+0% $607	+5% $680	+10% $753
Rate	-1.0pp $657	-0.5pp $632	base $607	+0.5pp $581	+1.0pp $555

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2454 W Cold Spring Ln Baltimore, MD	3.0	1.0	1200	$1,650	$1.38	24d	1	0.01mi
2824 Edgecombe Cir S Baltimore, MD	2.0	2.0	950	$1,475	$1.55	22d	1	0.13mi
2915 Oakford Ave Baltimore, MD	3.0	2.0	1102	$1,600	$1.45	18d	1	0.13mi
2619 Loyola Northway Baltimore, MD	3.0	2.0	1400	$1,995	$1.43	24d	1	0.16mi
2530 Edgecombe Cir N Baltimore, MD	2.0–3.0	1.0	920	$1,325	$1.44	2d	4	0.21mi
2415 Loyola Southway Baltimore, MD	3.0	1.5	1200	$2,033	$1.69	44d	1	0.25mi
4714 Greenspring Ave Baltimore, MD	2.0	1.0	890	$1,295	$1.46	44d	1	0.33mi
4230 Towanda Ave Baltimore, MD	3.0	2.0	1400	$1,800	$1.29	18d	1	0.48mi
3822 Pall Mall Rd Baltimore, MD	3.0	1.5	1320	$1,875	$1.42	44d	1	0.52mi
2001 W Cold Spring Ln Baltimore, MD	1.0–3.0	1.0–2.0	1154	$3,505	$3.04	2d	31	0.64mi
4320 Roland Heights Ave Baltimore, MD	3.0	2.5	1800	$3,300	$1.83	18d	1	0.79mi
4322 Roland Heights Ave Baltimore, MD	3.0	3.0	1800	$3,000	$1.67	44d	1	0.79mi
4828 Beaufort Ave Baltimore, MD	2.0	2.5	1200	$1,850	$1.54	24d	1	0.80mi
2080 Rockrose Ave Unit 2080-201 Baltimore, MD	2.0	2.0	1080	$2,100	$1.94	24d	1	0.80mi
3735 Manchester Ave Baltimore, MD	2.0	1.0	1000	$1,350	$1.35	5d	1	0.82mi
4319 Medfield Ave Baltimore, MD	3.0	2.5	1800	$3,100	$1.72	44d	1	0.84mi
5115 Pembridge Ave Baltimore, MD	3.0	2.0	1088	$2,150	$1.98	44d	1	0.86mi
3632 Parkdale Ave Baltimore, MD	3.0	1.0	1400	$3,000	$2.14	44d	1	0.86mi
2078 Druid Park Dr Baltimore, MD	2.0	3.0	1500	$2,500	$1.67	44d	1	0.91mi
2078 Druid Park Dr Unit 4 Baltimore, MD	2.0	2.5	1500	$2,500	$1.67	44d	1	0.91mi
3204 Sequoia Ave Baltimore, MD	4.0	2.5	1791	$2,600	$1.45	44d	1	0.92mi
3784 Columbus Dr Baltimore, MD	4.0	2.0	1250	$2,200	$1.76	24d	1	0.92mi
5000 Litchfield Ave #1 Baltimore, MD	2.0	1.0	1100	$1,100	$1.00	44d	1	0.99mi
4429 Newport Ave Baltimore, MD	3.0	2.0	1248	$2,400	$1.92	44d	1	1.08mi
5301 Maple Ave Baltimore, MD	3.0	1.0	960	$1,700	$1.77	44d	1	1.14mi
3508 Grantley Rd Baltimore, MD	2.0	1.0	1250	$1,350	$1.08	24d	1	1.17mi
5340 Maple Ave Baltimore, MD	2.0	1.0	1200	$1,950	$1.62	44d	1	1.20mi
4119 Falls Rd Baltimore, MD	3.0	1.5	1316	$2,500	$1.90	44d	1	1.28mi
4032 Falls Rd Unit 2 Baltimore, MD	2.0	1.0	1040	$1,650	$1.59	44d	1	1.28mi
4032 Falls Rd Baltimore, MD	2.0	1.0	1040	$1,645	$1.58	44d	1	1.28mi
1011 W 42nd St Baltimore, MD	3.0	1.0	1160	$2,100	$1.81	5d	1	1.37mi
1527 W 36th St Unit 2ND FLOOR Baltimore, MD	2.0	1.0	1200	$1,600	$1.33	44d	1	1.37mi
4010 Fernhill Ave Unit 2 Baltimore, MD	2.0	1.0	1100	$1,500	$1.36	44d	1	1.38mi
2910 Reisterstown Rd Baltimore, MD	1.0–3.0	1.0	950	$1,414	$1.49	15d	4	1.38mi
1109 W 40th St Unit 1 Baltimore, MD	2.0	1.5	1392	$2,150	$1.54	5d	1	1.39mi
1109 W 40th St Baltimore, MD	3.0	1.5	944	$2,150	$2.28	5d	1	1.39mi
5343 Nelson Ave Baltimore, MD	2.0	1.0	1000	$1,215	$1.22	24d	1	1.39mi
2432 Everton Rd Unit 2435 A Baltimore, MD	2.0	1.5	1000	$1,500	$1.50	24d	1	1.40mi
103 Cross Keys Rd Unit R103D2 Baltimore, MD	2.0	2.0	1157	$2,000	$1.73	24d	1	1.45mi
1201 Union Ave Baltimore, MD	3.0	2.0	1410	$2,575	$1.83	44d	1	1.45mi

Listing history 10 events

1. 2026-06-08
   statusdays on market $100,000 Pending 38 DOM
2. 2026-06-07
   days on market $100,000 Active 37 DOM
3. 2026-06-04
   days on market $100,000 Active 34 DOM
4. 2026-06-03
   days on market $100,000 Active 33 DOM
5. 2026-06-02
   days on market $100,000 Active 32 DOM
6. 2026-06-01
   days on market $100,000 Active 31 DOM
7. 2026-05-31
   days on market $100,000 Active 30 DOM
8. 2026-05-01
   listed $110,000 Active 957-char remark
9. 1997-09-23
   soldstatus $37,000
10. 1984-03-07
    soldstatus $15,000

ⓘ 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: $2,718 · $226/mo
• Projected year-2 tax: $2,718 · $226/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 9/10 Extreme FEMA zone X (unshaded) · 99% 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: $22,103
• − Mortgage interest: −$5,602
• − Property taxes: −$2,718
• − Insurance: −$1,166
• − Repairs & maintenance: −$1,768
• − Management: −$1,768
• − Depreciation: −$2,909
• Taxable income: $6,172
• Est. tax owed @ 24.0%: −$1,481
• After-tax cash flow: $5,803/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

+566.7% since first listed

5 events — show timeline

• 2026-06-08 Pending — BRIGHT MLS
• 2026-05-22 Price Changed $100,000 BRIGHT MLS
• 2026-05-01 Listed $110,000 BRIGHT MLS
• 1997-09-23 Sold (Public Records) $37,000 Public Records
• 1984-03-07 Sold (Public Records) $15,000 Public Records

Property tax history

+3.2%/yr

Latest (2025): $2,718 · +6.8% YoY. Source: county tax records.