2900 Keyworth Ave · Baltimore, MD 21215

$70,000

4 bd · 2.0 ba · 2,400 sqft · Townhouse · 35 Days on market

Built 1920 $29/sqft · 71% 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

Key facts

• Built 1920
• Listed 35 days

Property features AI

Finance

• Other: Above-grade finished area estimated at 1,400 finished; Below-grade finished area estimated at 1,000 finished; Total below-grade area 1,000 (assessed/estimated values provided)

Exterior

• Parking: Off-street parking; On-street parking
• Utilities: Public water; Public sewer; Natural gas hot water
• Home design: End of row / townhouse; Fee simple ownership
• Construction: Brick construction; Brick/mortar foundation; Rear entrance to basement
• Exterior features: End-of-row townhouse; Above-grade and below-grade structures

Interior

• Kitchen: Second kitchen (additional kitchen on property)
• Bedrooms: Three bedrooms on the upper level; One bedroom on the lower level
• Bathrooms: Two full bathrooms (one on upper level, one on lower level)
• Heating & cooling: Central heating fueled by natural gas; Wall unit cooling
• Interior features: Second kitchen; Fully finished basement with rear entrance

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath townhouse listed at $70k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.
• Cap rate 27.7% 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; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 44% 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).
• At $2,241/mo this rent would consume 52% 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 $484 of loan paydown is wiped out by about $2k 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 $20k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 19y ago; this cycle's ask is 57% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $42k; list at $70k implies a 65% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $67,900 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 3.20% ✓
• Cap rate: 27.66%
• Cash-on-cash: 76.32%
• DSCR: 4.40
• GRM: 2.6

CMA / ARV

• ARV (median comp): $241,860
• List price: $70,000
• Delta: -71.06%
• 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
3922 Reisterstown Rd	0.07mi	4/2.5	2,600 (+8%)	1mo	$265,000	$102	80
4333 Pimlico Rd	0.50mi	4/2.5	2,430 (+1%)	7mo	$245,000	$101	67
3304 Dorithan Rd	0.22mi	4/2.0	2,178 (-9%)	11mo	$106,000	$49	65
3642 Malden Ave	0.70mi	4/1.5	2,316 (-4%)	1mo	$285,000	$123	59
3006 Grantley Ave	0.41mi	3/1.0 (-1)	2,400 (0%)	18mo	$68,000	$28	57
3512 Reisterstown Rd	0.38mi	4/1.0	2,145 (-11%)	7mo	$59,900	$28	54
2631 Quantico Ave	0.37mi	4/4.0	2,200 (-8%)	13mo	$117,000	$53	50
2633 Park Heights Ter	0.42mi	5/4.0 (+1)	2,600 (+8%)	5mo	$299,995	$115	49
3506 Reisterstown Rd	0.39mi	4/3.0	2,100 (-12%)	13mo	$225,000	$107	46
2817 Ridgewood Ave	0.57mi	5/3.5 (+1)	2,500 (+4%)	13mo	$217,900	$87	45
3522 Cottage Ave	0.40mi	5/3.0 (+1)	2,060 (-14%)	12mo	$250,000	$121	39
2821 Ridgewood Ave	0.57mi	3/2.5 (-1)	2,100 (-12%)	17mo	$204,900	$98	31

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: 75.6%
• Equity multiple: 4.41×
• Total profit: $66,784
• Equity at exit: $10,437

10-year hold

• IRR: 79.1%
• Equity multiple: 8.92×
• Total profit: $155,258
• Equity at exit: $6,052

Cash invested: $19,600 (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: 2.6×

Monthly cashflow live

• Estimated rent: $2,241 high
• Mortgage (P&I): −$367
• Tax from tax record: −$127 /mo · $1,529/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$471
• Net cashflow: $1,247

Break-even live

Break-even rent $663

Max offer price $70,000

Occupancy floor 39%

Sensitivity live

Price	-10% $1,286	-5% $1,266	+0% $1,247	+5% $1,227	+10% $1,207
Rent	-10% $1,069	-5% $1,158	+0% $1,247	+5% $1,335	+10% $1,424
Rate	-1.0pp $1,282	-0.5pp $1,264	base $1,247	+0.5pp $1,228	+1.0pp $1,210

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3204 Sequoia Ave Baltimore, MD	4.0	2.5	1791	$2,600	$1.45	44d	1	0.29mi
2305 Wichita Ave Unit 1 Baltimore, MD	3.0	1.0	1950	$1,300	$0.67	24d	1	0.80mi
4704 Pimlico Rd Baltimore, MD	3.0	1.5	2006	$1,800	$0.90	24d	1	0.96mi
3104 Tioga Pkwy Baltimore, MD	3.0	2.0	1640	$2,050	$1.25	22d	1	1.02mi
4320 Roland Heights Ave Baltimore, MD	3.0	2.5	1800	$3,300	$1.83	18d	1	1.07mi
4322 Roland Heights Ave Baltimore, MD	3.0	3.0	1800	$3,000	$1.67	44d	1	1.08mi
4319 Medfield Ave Baltimore, MD	3.0	2.5	1800	$3,100	$1.72	44d	1	1.13mi
2001 W Cold Spring Ln Baltimore, MD	1.0–3.0	1.0–2.0	1154	$3,505	$3.04	2d	31	1.13mi
3414 Alto Rd Unit 2ND Baltimore, MD	3.0	1.0	2824	$2,000	$0.71	24d	1	1.19mi
4029 Fairview Ave Baltimore, MD	5.0	4.5	2653	$3,200	$1.21	44d	1	1.33mi
3030 Windsor Ave Baltimore, MD	4.0	1.5	2124	$1,995	$0.94	5d	1	1.38mi
2201 Whittier Ave Baltimore, MD	4.0	2.0	1750	$1,700	$0.97	18d	1	1.40mi
2201 Whittier Ave Baltimore, MD	4.0	2.0	1750	$1,700	$0.97	44d	1	1.40mi
2812 Clifton Ave Baltimore, MD	3.0	1.5	1650	$1,850	$1.12	44d	1	1.41mi
2917 Clifton Ave Baltimore, MD	4.0	4.0	1700	$2,150	$1.26	24d	1	1.45mi
2128 N Pulaski St Baltimore, MD	4.0	3.0	2166	$2,200	$1.02	44d	1	1.48mi

Listing history 33 events

1. 2026-06-18
   days on market $70,000 Coming Soon 35 DOM
2. 2026-06-17
   days on market $70,000 Coming Soon 34 DOM
3. 2026-06-16
   days on market $70,000 Coming Soon 33 DOM
4. 2026-06-15
   days on market $70,000 Coming Soon 32 DOM
5. 2026-06-13
   days on market $70,000 Coming Soon 30 DOM
6. 2026-06-09
   days on market $70,000 Coming Soon 26 DOM
7. 2026-06-08
   days on market $70,000 Coming Soon 25 DOM
8. 2026-06-07
   days on market $70,000 Coming Soon 24 DOM
9. 2026-06-04
   days on market $70,000 Coming Soon 21 DOM
10. 2026-06-03
    days on market $70,000 Coming Soon 20 DOM
11. 2026-06-02
    days on market $70,000 Coming Soon 19 DOM
12. 2026-06-01
    days on market $70,000 Coming Soon 18 DOM
13. 2026-05-31
    days on market $70,000 Coming Soon 17 DOM
14. 2026-05-14
    historical $70,000
15. 2014-01-01
    historical
16. 2014-01-01
    historical
17. 2013-07-31
    listed $44,500
18. 2013-07-31
    listed Active
19. 2010-12-25
    historical
20. 2010-12-25
    historical Expired
21. 2010-07-02
    status Active
22. 2010-06-26
    historical Expired
23. 2010-01-26
    price Active
24. 2010-01-26
    status Active
25. 2010-01-26
    historical Expired
26. 2009-07-13
    listed Active
27. 2009-07-13
    listed $99,999
28. 2007-06-21
    soldstatus $42,500
29. 2007-04-24
    historical
30. 2007-03-05
    listed $49,999
31. 1997-02-13
    soldstatus $40,000
32. 1997-01-24
    soldstatus $27,692
33. 1996-12-06
    soldstatus $14,209

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 14 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: $26,889
• − Mortgage interest: −$3,921
• − Property taxes: −$1,529
• − Insurance: −$350
• − Repairs & maintenance: −$2,151
• − Management: −$2,151
• − Depreciation: −$2,036
• Taxable income: $14,750
• Est. tax owed @ 24.0%: −$3,540
• After-tax cash flow: $11,418/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

+392.6% since first listed

20 events — show timeline

• 2026-05-14 Coming Soon $70,000 BRIGHT MLS
• 2014-01-01 Delisted — MRIS
• 2014-01-01 Listing Removed — BRIGHT MLS
• 2013-07-31 Listed $44,500 BRIGHT MLS
• 2013-07-31 Listed — MRIS
• 2010-12-25 Listing Removed — BRIGHT MLS
• 2010-12-25 Delisted — MRIS
• 2010-07-02 Relisted — MRIS
• 2010-06-26 Delisted — MRIS
• 2010-01-26 Relisted — MRIS
• 2010-01-26 Price Changed — MRIS
• 2010-01-26 Delisted — MRIS
• 2009-07-13 Listed — MRIS
• 2009-07-13 Listed $99,999 BRIGHT MLS
• 2007-06-21 Sold (MLS) $42,500 MRIS
• 2007-04-24 Delisted — MRIS
• 2007-03-05 Listed $49,999 MRIS
• 1997-02-13 Sold (Public Records) $40,000 Public Records
• 1997-01-24 Sold (Public Records) $27,692 Public Records
• 1996-12-06 Sold (Public Records) $14,209 Public Records

Property tax history

+8.5%/yr

Latest (2025): $1,529 · +11.5% YoY. Source: county tax records.