3608 Plateau Ave · Baltimore, MD 21207

$125,000

3 bd · 2.0 ba · 1,200 sqft · SingleFamily public records · 40 Days on market

Built 1925 6,599 sqft lot Est $203k · 38% 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 +26.2/30.0
• ARV discount +15.0/15.0
• Appreciation +9.8/10.0
• DSCR +8.8/10.0
• 1% rule +8.0/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0

Listing remarks

Charming bungalow on quiet street in Gwynn Oak with large level fenced in yard. Upper floor with 1 bedroom unit with kitchen. New Roof, replacement windows and Hardy plank/masonry exterior. Main level water damaged by burst pipe during cold snap. Property conveys strictly AS-IS.

Key facts

• 6,599 sq ft lot
• Built 1925
• Listed 40 days

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas hot water
• Home design: Detached structure; Shingle roof; Combination of HardiPlank and masonry exterior
• Construction: Built (year source: Assessor); Slab foundation; Above- and below-grade structures
• Exterior features: Property is in city limits

Interior

• Bedrooms: Two bedrooms on the main level; One bedroom on the first upper level
• Bathrooms: Two full bathrooms (one on main level, one on first upper level)
• Heating & cooling: Radiator heating fueled by natural gas; Cooling via wall and window units
• Interior features: Has fireplace (1); Basement with daylight exposure and full height, accessible via connecting stairway

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $318 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $121k (3.0% below list) — sets the bar for market timing.

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: Calvin M. Rodwell Elementary/Middle (math 0% / reading 9%, grade F, #803 of 860 statewide, top 94%, 841 students, 75% FRL); Vanguard Collegiate Middle (math 3% / reading 15%, grade F, #212 of 225 statewide, top 95%, 343 students, 84% FRL); Baltimore Polytechnic Institute (math 71% / reading 84%, grade A-, #22 of 222 statewide, top 10%, 1,555 students, 43% FRL).
• Zoned-school proficiency averages 30% at this address vs 12% district-wide (+19 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; 32 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).

Forward outlook

• In year one you build about $13k of equity ($864 loan paydown + $12k 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.
• At projected returns (9.5% appreciation + 5.2% rent growth), your $35k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $29k; list at $125k implies a 331% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1925 — 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 $121,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 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 1925 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.30% ✓
• Cap rate: 9.34%
• Cash-on-cash: 10.90%
• DSCR: 1.48
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $202,800
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4906 Haddon Ave	0.07mi	3/1.5	1,347 (+12%)	2mo	$132,000	$98	73
5318 Belleville Ave	0.32mi	2/1.0 (-1)	1,251 (+4%)	3mo	$275,877	$221	66
4909 Haddon Ave	0.04mi	3/3.5	1,320 (+10%)	13mo	$338,000	$256	65
4620 Belvieu	0.29mi	3/2.0	1,305 (+9%)	20mo	$215,000	$165	55
5522 Bosworth Ave	0.66mi	3/1.5	1,305 (+9%)	2mo	$220,000	$169	51
4217 Ridgewood Ave	0.48mi	2/2.0 (-1)	1,352 (+13%)	2mo	$150,000	$111	50
3102 Brightwood Ave	0.57mi	4/3.0 (+1)	1,338 (+12%)	4mo	$365,000	$273	42
3009 Milford	0.59mi	4/1.0 (+1)	1,338 (+12%)	10mo	$162,000	$121	36
5417 Wabash Ave	0.73mi	3/1.5	1,377 (+15%)	7mo	$125,000	$91	33
3104 Brightwood Ave	0.56mi	4/2.0 (+1)	1,363 (+14%)	19mo	$249,000	$183	30

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: 32.5%
• Equity multiple: 3.51×
• Total profit: $87,885
• Equity at exit: $108,076

10-year hold

• IRR: 29.1%
• Equity multiple: 8.15×
• Total profit: $250,336
• Equity at exit: $228,408

Cash invested: $35,000 (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 21207

• Home prices YoY: 1.1%
• Rents YoY: 5.2%
• Active inventory: 131
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,628 high
• Mortgage (P&I): −$656
• Tax from tax record: −$261 /mo · $3,131/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$342
• Net cashflow: $318

Break-even live

Break-even rent $1,226

Max offer price $125,000

Occupancy floor 75%

Sensitivity live

Price	-10% $389	-5% $353	+0% $318	+5% $282	+10% $247
Rent	-10% $189	-5% $254	+0% $318	+5% $382	+10% $447
Rate	-1.0pp $381	-0.5pp $350	base $318	+0.5pp $285	+1.0pp $253

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3601 Howard Park Ave Unit 2 Baltimore, MD	3.0	1.0	1000	$1,650	$1.65	45d	1	0.10mi
3727 Milford Ave Gwynn Oak, MD	3.0	1.0	900	$1,450	$1.61	45d	1	0.12mi
5009 Norwood Ave Gwynn Oak, MD	2.0	1.0	800	$1,150	$1.44	45d	1	0.35mi
4016 N Rogers Ave Baltimore, MD	2.0	1.0	717	$1,195	$1.67	45d	1	0.36mi
3807 Bowers Ave Gwynn Oak, MD	3.0	1.5	1152	$2,200	$1.91	45d	1	0.37mi
3617 Mohawk Ave Baltimore, MD	2.0	1.0	1000	$1,595	$1.59	45d	1	0.40mi
3615 Mohawk Ave Gwynn Oak, MD	2.0	1.0	1000	$1,610	$1.61	45d	1	0.40mi
3601 Parkview Ave Gwynn Oak, MD	2.0	1.0	849	$1,416	$1.67	0d	6	0.46mi
4010 Fernhill Ave Unit 2 Baltimore, MD	2.0	1.0	1100	$1,500	$1.36	45d	1	0.73mi
5533 Gwynn Oak Ave Fl 1 Gwynn Oak, MD	2.0	1.0	1080	$1,600	$1.48	45d	1	0.77mi
3908 Groveland Ave Apt F Baltimore, MD	2.0	1.0	815	$1,695	$2.08	45d	1	0.89mi
3600 Garrison Blvd Unit T2 Baltimore, MD	2.0	1.0	750	$1,149	$1.53	25d	1	0.92mi
3600 Garrison Blvd Apt T1 Baltimore, MD	2.0	1.0	800	$1,125	$1.41	4d	1	0.92mi
3701 Garrison Blvd Unit 3 Baltimore, MD	2.0	1.0	820	$1,399	$1.71	25d	1	0.93mi
4309 Norfolk Ave Unit 1st Floor Baltimore, MD	2.0	1.0	1470	$1,500	$1.02	13d	1	0.93mi
4998 W Forest Park Ave Baltimore, MD	3.0	1.0–2.0	790	$1,875	$2.37	16d	15	0.97mi
3904 Penhurst Ave Baltimore, MD	2.0	1.0	760	$1,175	$1.55	45d	1	0.98mi
4738 Wakefield Rd Baltimore, MD	2.0	1.0	884	$1,200	$1.36	25d	1	1.04mi
6226 Robin Hill Rd Gwynn Oak, MD	3.0	1.5	1140	$2,850	$2.50	18d	1	1.04mi
4515 Fairfax Rd Baltimore, MD	2.0	1.0	700	$1,250	$1.79	25d	1	1.16mi
2801 Forest Glen Rd Unit 2869 Baltimore, MD	2.0	1.0	702	$1,200	$1.71	0d	1	1.18mi
3784 Columbus Dr Baltimore, MD	4.0	2.0	1250	$2,200	$1.76	25d	1	1.18mi
5343 Nelson Ave Baltimore, MD	2.0	1.0	1000	$1,215	$1.22	25d	1	1.23mi
3912 Mortimer Ave Baltimore, MD	3.0	2.0	1204	$2,723	$2.26	45d	1	1.26mi
5000 Litchfield Ave #1 Baltimore, MD	2.0	1.0	1100	$1,100	$1.00	45d	1	1.31mi
3508 Grantley Rd Baltimore, MD	2.0	1.0	1250	$1,350	$1.08	25d	1	1.32mi
3735 Manchester Ave Baltimore, MD	2.0	1.0	1000	$1,350	$1.35	6d	1	1.35mi
4828 Beaufort Ave Baltimore, MD	2.0	2.5	1200	$1,850	$1.54	25d	1	1.42mi
4008 Fordleigh Rd Baltimore, MD	1.0–2.0	1.0	695	$1,305	$1.88	6d	6	1.45mi
3501 Oakmont Ave Baltimore, MD	2.0	1.0	915	$1,195	$1.31	0d	1	1.47mi
2905 Garrison Blvd Unit 21 Baltimore, MD	2.0	1.0	800	$1,175	$1.47	45d	1	1.47mi
1 Janper Ct Baltimore, MD	2.0	1.5	950	$1,575	$1.66	0d	2	1.48mi

Listing history 7 events

1. 2026-05-22
   status Pending
2. 2026-04-29
   historical Active Under Contract
3. 2026-04-20
   price $125,000
4. 2026-03-20
   status Active
5. 2026-03-11
   historical
6. 2026-03-09
   historical $225,000
7. 1988-12-07
   soldstatus $29,000

ⓘ 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: $3,131 · $261/mo
• Projected year-2 tax: $3,131 · $261/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 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: $19,540
• − Mortgage interest: −$7,002
• − Property taxes: −$3,131
• − Insurance: −$625
• − Repairs & maintenance: −$1,563
• − Management: −$1,563
• − Depreciation: −$3,636
• Taxable income: $2,019
• Est. tax owed @ 24.0%: −$485
• After-tax cash flow: $3,330/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

+331.0% since first listed

7 events — show timeline

• 2026-05-22 Pending — BRIGHT MLS
• 2026-04-29 Contingent — BRIGHT MLS
• 2026-04-20 Price Changed $125,000 BRIGHT MLS
• 2026-03-20 Relisted — BRIGHT MLS
• 2026-03-11 Listing Removed — BRIGHT MLS
• 2026-03-09 Coming Soon $225,000 BRIGHT MLS
• 1988-12-07 Sold (Public Records) $29,000 Public Records

Property tax history

-1.1%/yr

Latest (2025): $3,131 · +6.2% YoY. Source: county tax records.