3902 N Rogers Ave · Baltimore, MD 21207

$299,900

3 bd · 1.5 ba · 1,600 sqft · Townhouse public records · 9 Days on market

Built 1949 4,356 sqft lot Est $245k · 23% over

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Why this score? — see what drove the D- 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 +9.8/30.0
• Appreciation +9.8/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• DSCR +2.8/10.0
• Condition / age +2.5/5.0
• 1% rule +1.7/10.0
• Schools +1.0/10.0
• ARV discount +0.0/15.0

Listing remarks

Nestled in the charming Gwynn Oak neighborhood, this beautifully renovated Colonial twin home offers a perfect blend of classic elegance and modern luxury. With a comprehensive renovation completed in 2026, this residence boasts an inviting atmosphere that feels like home from the moment you step inside. Spanning 1,600 square feet, the interior features a harmonious layout that seamlessly connects living spaces. The heart of the home is the combination kitchen and dining area, designed for both functionality and style. The kitchen is a culinary enthusiast's dream, equipped with high-end stainless steel appliances, including a gas oven/range, built-in microwave, and dishwasher. The granite c

Key facts

• Low-maintenance yard
• Granite countertops
• 2 garage spots

Tags

• RENOVATED COLONIAL TWIN HOME
• GRANITE COUNTERTOPS
• FULLY FINISHED BASEMENT
• OVERSIZED COVERED PORCH
• LOW-MAINTENANCE YARD

Property features AI

Finance

• Other: Total below-grade finished area 320 (assessor); Above-grade finished area 1,280 (assessor)
• Financial info: Ground rent payment (semi-annually)

Exterior

• Parking: Attached oversized garage with inside access and front and rear entry (2-car); Driveway; Off-street parking
• Utilities: Public water; Public sewer (also listed as public septic); Natural gas hot water
• Home design: Semi-detached home; Estimated year built; major remodel/effective year 2026; Ground rent exists (semi-annual payment)
• Construction: Brick construction; Block foundation; Garage(s); Wood/metal shed
• Exterior features: Enclosed porch(es); Above-grade and below-grade outdoor structures

Interior

• Kitchen: Built-in microwave; Dishwasher; Disposal; Gas oven/range; Refrigerator; Stainless steel appliances; Upgraded countertops; Kitchen island; Eat-in kitchen
• Bedrooms: Three bedrooms on the upper level
• Flooring: Wood floors; Carpet
• Bathrooms: Two full bathrooms (one on upper level, one on lower level)
• Heating & cooling: Central heating (natural gas); Central air (electric)
• Interior features: Attic; Carpet; Ceiling fans; Combination kitchen/dining; Dining area; Formal separate dining room; Eat-in kitchen; Kitchen island; Recessed lighting; Upgraded countertops; Wood floors
• Laundry & utility: Front-loading washer; Front-loading electric dryer; Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $300k.

Deal economics

• At list price, monthly cash flow is $-193 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $266k (11.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $202k (32.8% below list).
• Recommended offer: $202k (32.8% below list) — sets the bar for 1% rule.

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: 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.
• Zoned schools: Elmer A. Henderson: A Johns Hopkins Partnership (math 2% / reading 16%, grade F, #650 of 860 statewide, top 77%, 642 students, 80% FRL); Baltimore Polytechnic Institute (math 71% / reading 84%, grade A-, #22 of 222 statewide, top 10%, 1,555 students, 43% FRL) — zoned schools average 62% FRL vs 79% district-wide (17 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 43% at this address vs 12% district-wide (+32 pts) — the actual schools serving this property are materially stronger than the Baltimore City Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+5.2%/yr); 131 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).
• This rent runs 36% of the median local income ($67k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $31k of equity ($2k loan paydown + $28k appreciation (9.5% local appreciation)).
• Baltimore County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 2, paydown + projected appreciation supports a ~$49k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $108k; list at $300k implies a 178% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 23% 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 $201,675 (32.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1949 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.67% ✗
• Cap rate: 5.52%
• Cash-on-cash: -2.76%
• DSCR: 0.88
• GRM: 12.4

CMA / ARV

• ARV (on-the-fly): $244,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5528 Belle Ave	0.11mi	4/2.0 (+1)	1,480 (-8%)	2mo	$268,000	$181	74
4703 Post Rd	0.25mi	4/2.5 (+1)	1,600 (0%)	9mo	$275,000	$172	72
5527 Belle Ave	0.09mi	4/2.0 (+1)	1,440 (-10%)	6mo	$125,000	$87	67
3716 Howard Park Ave	0.26mi	3/2.0	1,677 (+5%)	13mo	$205,000	$122	67
4411 Belvieu Ave	0.35mi	4/2.0 (+1)	1,696 (+6%)	4mo	$190,000	$112	64
5561 Kennison Ave	0.33mi	3/1.5	1,395 (-13%)	1mo	$142,000	$102	62
5554 Elderon Ave	0.31mi	3/2.0	1,489 (-7%)	14mo	$228,500	$153	61
4805 Wilvan Ave	0.30mi	3/1.5	1,440 (-10%)	14mo	$152,000	$106	58
3435 Flannery Ln	0.72mi	2/1.0 (-1)	1,536 (-4%)	2mo	$150,000	$98	51
5612 Stonington Ave	0.69mi	4/2.0 (+1)	1,694 (+6%)	8mo	$265,000	$156	45
4311 Chatham Rd	0.74mi	4/1.5 (+1)	1,404 (-12%)	6mo	$240,000	$171	35
4402 Haddon Ave	0.66mi	4/3.5 (+1)	1,814 (+13%)	2mo	$290,000	$160	32

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

Projected returns pro-forma

9.5% appreciation · 5.23% rent growth · sell at horizon

5-year hold

• IRR: 21.8%
• Equity multiple: 2.73×
• Total profit: $145,280
• Equity at exit: $259,296

10-year hold

• IRR: 20.2%
• Equity multiple: 6.30×
• Total profit: $445,037
• Equity at exit: $547,997

Cash invested: $83,972 (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 21207

• Home prices YoY: 1.1%
• Rents YoY: 5.2%
• Active inventory: 131
• Price-to-rent: 12.4×

Monthly cashflow live

• Estimated rent: $2,017 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$89 /mo · $1,066/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $-193

Break-even live

Break-even rent $2,261

Max offer price $265,760

Occupancy floor —

Sensitivity live

Price	-10% $-23	-5% $-108	+0% $-193	+5% $-278	+10% $-363
Rent	-10% $-353	-5% $-273	+0% $-193	+5% $-114	+10% $-34
Rate	-1.0pp $-42	-0.5pp $-117	base $-193	+0.5pp $-271	+1.0pp $-350

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3807 Bowers Ave Gwynn Oak, MD	3.0	1.5	1152	$2,200	$1.91	45d	1	0.15mi
3535 Flannery Ln Gwynn Oak, MD	3.0	1.5	1536	$2,000	$1.30	45d	1	0.62mi
4010 Fernhill Ave Unit 2 Baltimore, MD	2.0	1.0	1100	$1,500	$1.36	45d	1	0.78mi
5533 Gwynn Oak Ave Fl 1 Gwynn Oak, MD	2.0	1.0	1080	$1,600	$1.48	45d	1	0.89mi
6226 Robin Hill Rd Gwynn Oak, MD	3.0	1.5	1140	$2,850	$2.50	18d	1	0.90mi
3912 Mortimer Ave Baltimore, MD	3.0	2.0	1204	$2,723	$2.26	45d	1	1.06mi
3914 Maine Ave Unit 3 Baltimore, MD	2.0	1.0	2127	$1,150	$0.54	45d	1	1.16mi
5807 Gist Ave Baltimore, MD	2.0	1.5	2100	$1,395	$0.66	26d	1	1.16mi
4998 W Forest Park Ave Baltimore, MD	3.0	1.0–2.0	790	$1,875	$2.37	16d	15	1.19mi
4309 Norfolk Ave Unit 1st Floor Baltimore, MD	2.0	1.0	1470	$1,500	$1.02	13d	1	1.23mi
3784 Columbus Dr Baltimore, MD	4.0	2.0	1250	$2,200	$1.76	26d	1	1.23mi
5000 Litchfield Ave #1 Baltimore, MD	2.0	1.0	1100	$1,100	$1.00	45d	1	1.27mi
6609 Eberle Dr Baltimore, MD	1.0–3.0	1.0–2.0	1011	$1,787	$1.77	0d	26	1.30mi
3709 Fords Ln Baltimore, MD	4.0	3.5	2248	$3,000	$1.33	0d	1	1.38mi
4828 Beaufort Ave Baltimore, MD	2.0	2.5	1200	$1,850	$1.54	26d	1	1.42mi
3809 Clarks Ln Unit 301 Baltimore, MD	2.0	2.0	1057	$1,600	$1.51	26d	1	1.49mi

Listing history 3 events

1. 2026-06-21
   days on market $299,900 Active 9 DOM
2. 2026-06-19
   remarks 699-char remark
3. 2026-06-19
   listed $299,900 Active 6 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: $1,066 · $89/mo
• Projected year-2 tax: $2,167 · $181/mo
• Expected delta: +$1,102/yr (+$92/mo · 103.3%)

ⓘ 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 6/10 Major 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 23% 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: $24,201
• − Mortgage interest: −$16,799
• − Property taxes: −$1,066
• − Insurance: −$1,500
• − Repairs & maintenance: −$1,936
• − Management: −$1,936
• − Depreciation: −$8,724
• Taxable loss: −$7,760
• Est. tax savings @ 24.0%: +$1,862
• After-tax cash flow: $-457/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 County · 769,527 people
• City population: 588,727
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 47,099
• Household income: $67,060
• Rent vs Own: 39.3% rent · 60.7% own
• Severe rent burden: 2139.0

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 (78%)
• Race & ethnicity: Black 78% White 8% Hispanic / Latino 7% Two or more races 5% Asian 3%
• Hispanic origin (detail): Puerto Rican 1%
• Common ancestry: Swedish 1%
• Foreign-born: 13% · Canada, Philippines, South Korea
• Languages at home: 86% English-only · Spanish 4% French/Haitian/Cajun 1% Other Asian/Pacific 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: ▲ 9.50%
• Current HPI: 843.63
• Rent YoY: ▲ 5.23%
• 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

+177.7% since first listed

2 events — show timeline

• 2026-06-13 Listed $299,900 BRIGHT MLS
• 2026-02-26 Sold (Public Records) $108,000 Public Records

Property tax history

-7.1%/yr

Latest (2025): $1,066 · -66.6% YoY. Source: county tax records.