7 Cobber Ln · Baltimore, MD 21229

$135,000

3 bd · 1.0 ba · 1,088 sqft · Townhouse public records · 11 Days on market

Built 1989 6,970 sqft lot Est $151k · 11% under

---

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 +26.9/30.0
• ARV discount +12.3/15.0
• DSCR +9.3/10.0
• 1% rule +7.7/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

THIS HOME IS A SHOWCASE AND THE PRICE IS RIGHT SO COME ON DOWN. REMODELED KITCHEN FEATURING EUROPEAN CABINETRY, MOSAIC GLASS BACKSPLASH, BEAUTIFUL TILE FLOOR, NEW S/S APPLIANCES. MAPLE LAM FLOORS ON MAIN LEVEL WITH NEW W/ W CARPET IN BEDROOMS. ULTRA MODERN BATH HIGHLIGHTED BY TRAVERTINE FLOORS GLASS VESSEL ON MARBLE VANITY TOP. DECK IN REAR. LOCATED IN GREAT NEIGHBORHOOD. OVERBIDDING IS IMPOSSIBLE

Key facts

• Built 1989
• Listed 11 days

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Interior townhouse/rowhouse; Frame construction
• Construction: Frame construction; Foundation listed as other; Above-grade and below-grade structures
• Exterior features: No tidal water

Interior

• Bedrooms: Two bedrooms on the upper level; One bedroom on the lower level
• Bathrooms: One full bathroom
• Heating & cooling: Heat pump heating; Central air conditioning; Electric heating and cooling; Electric hot water
• Interior features: Partially finished basement; Living area reported by assessor

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $135k.

Deal economics

• At list price, monthly cash flow is $374 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Cap rate 9.6% 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: 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 (+5.4%/yr); 256 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• This rent runs 34% of the median local income ($60k/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 $933 of loan paydown is wiped out by about $4k 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 + 5.4% rent growth), your $38k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 29y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 24% 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 $135,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.27% ✓
• Cap rate: 9.62%
• Cash-on-cash: 11.87%
• DSCR: 1.53
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $151,232
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
118 Upmanor Rd	0.25mi	3/2.0	1,024 (-6%)	2mo	$235,000	$229	73
44 N Athol Ave	0.16mi	3/1.0	1,224 (+12%)	3mo	$121,600	$99	69
377 Marydell Rd	0.41mi	2/1.0 (-1)	1,040 (-4%)	2mo	$145,000	$139	67
209 Mount Holly St	0.57mi	3/2.0	1,080 (-1%)	2mo	$228,000	$211	66
38 Hillvale Rd	0.24mi	3/1.0	1,224 (+12%)	3mo	$160,000	$131	65
48 Hillvale Rd	0.26mi	3/1.5	1,224 (+12%)	2mo	$180,000	$147	64
40 Hillvale Rd	0.25mi	3/2.0	1,224 (+12%)	2mo	$230,000	$188	62
107 N Monastery Ave	0.66mi	2/1.5 (-1)	1,080 (-1%)	2mo	$65,000	$60	59
4413 Parkton St	0.57mi	2/1.5 (-1)	1,120 (+3%)	3mo	$130,000	$116	59
4400 Manorview Rd	0.23mi	4/2.0 (+1)	1,224 (+12%)	4mo	$240,000	$196	56
133 N Monastery Ave	0.70mi	2/2.0 (-1)	1,080 (-1%)	3mo	$142,000	$131	55
708 Woodington Rd S	0.71mi	2/1.5 (-1)	1,120 (+3%)	1mo	$100,000	$89	54

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 · 5.38% rent growth · sell at horizon

5-year hold

• IRR: 4.1%
• Equity multiple: 1.16×
• Total profit: $6,197
• Equity at exit: $20,129

10-year hold

• IRR: 15.8%
• Equity multiple: 2.44×
• Total profit: $54,407
• Equity at exit: $11,672

Cash invested: $37,800 (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 21229

• Rents YoY: 5.4%
• Active inventory: 256
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,716 high
• Mortgage (P&I): −$708
• Tax from tax record: −$218 /mo · $2,611/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $374

Break-even live

Break-even rent $1,243

Max offer price $135,000

Occupancy floor 73%

Sensitivity live

Price	-10% $450	-5% $412	+0% $374	+5% $336	+10% $297
Rent	-10% $238	-5% $306	+0% $374	+5% $442	+10% $509
Rate	-1.0pp $442	-0.5pp $408	base $374	+0.5pp $339	+1.0pp $303

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2 N Woodington Rd Baltimore, MD	1.0–2.0	1.0	738	$1,335	$1.81	5d	5	0.09mi
2 S Woodington Rd Baltimore, MD	2.0	1.0	856	$1,160	$1.36	17d	1	0.09mi
111 Upmanor Rd Baltimore, MD	3.0	1.5	1224	$2,163	$1.77	45d	1	0.24mi
4018 Massachusetts Ave Baltimore, MD	3.0	1.0	1050	$1,400	$1.33	26d	1	0.28mi
212 S Loudon Ave Baltimore, MD	3.0	1.5	1310	$1,550	$1.18	45d	1	0.33mi
4601 Pen Lucy Rd Unit 4718-F Baltimore, MD	2.0	1.0	879	$1,225	$1.39	4d	1	0.34mi
4601 Pen Lucy Rd Unit 103-H Baltimore, MD	2.0	1.0	798	$1,315	$1.65	26d	1	0.34mi
4601 Pen Lucy Rd Unit 4714-B Baltimore, MD	2.0	1.0	730	$1,205	$1.65	17d	1	0.34mi
4601 Pen Lucy Rd Unit 4615-G Baltimore, MD	2.0	1.0	798	$1,200	$1.50	24d	1	0.35mi
304 Collins Ave Unit 2 Baltimore, MD	3.0	1.0	1016	$2,100	$2.07	45d	1	0.36mi
19 S Tremont Rd Baltimore, MD	3.0	1.0	1350	$1,850	$1.37	45d	1	0.38mi
2 S Tremont Rd Baltimore, MD	3.0	2.0	1450	$1,800	$1.24	13d	1	0.40mi
2 S Tremont Rd Baltimore, MD	3.0	2.0	1450	$1,800	$1.24	26d	1	0.40mi
219 Atholgate Ln Baltimore, MD	1.0–3.0	1.0–1.5	814	$1,500	$1.84	5d	2	0.47mi
4520 Scarlet Oak Ln Baltimore, MD	2.0	1.0	1025	$1,500	$1.46	45d	1	0.51mi
4301 Parkton St Baltimore, MD	1.0–3.0	1.0	730	$1,550	$2.12	45d	1	0.52mi
402 Colleen Rd Baltimore, MD	1.0–2.0	1.0	910	$1,450	$1.59	4d	11	0.55mi
114 S Rock Glen Rd Baltimore, MD	4.0	1.5	1160	$2,350	$2.03	14d	1	0.60mi
4431 Eldone Rd Baltimore, MD	3.0	2.0	896	$2,000	$2.23	26d	1	0.60mi
500 Lucia Ave Baltimore, MD	3.0	2.0	1472	$2,100	$1.43	18d	1	0.65mi
3607 W Lexington St Baltimore, MD	3.0	2.0	1050	$1,895	$1.80	6d	1	0.69mi
3706 W Franklin St Unit 1 Baltimore, MD	2.0	1.0	735	$1,100	$1.50	6d	1	0.72mi
501 Hazlett Ave Baltimore, MD	2.0–3.0	1.5–2.0	1044	$1,750	$1.68	0d	8	0.73mi
738 Yale Ave Baltimore, MD	2.0	1.0	1346	$1,900	$1.41	26d	1	0.75mi
5147 Frederick Ave Baltimore, MD	3.0	2.0	1216	$1,950	$1.60	5d	1	0.75mi
565 Brisbane Rd Baltimore, MD	2.0	2.0	1146	$1,675	$1.46	26d	1	0.77mi
751 Yale Ave Baltimore, MD	3.0	1.5	1024	$1,750	$1.71	45d	1	0.79mi
4020 Gelston Dr Baltimore, MD	3.0	2.0	1270	$1,875	$1.48	45d	1	0.79mi
586 Lucia Ave Baltimore, MD	3.0	1.5	1178	$2,100	$1.78	20d	1	0.79mi
3336 W Caton Ave Baltimore, MD	3.0	2.0	1236	$1,625	$1.31	26d	1	0.80mi
41 N Kossuth St Baltimore, MD	3.0	2.0	1216	$1,800	$1.48	26d	1	0.80mi
3310 Elbert St Baltimore, MD	2.0	1.0	920	$1,550	$1.68	26d	1	0.81mi
627 Lucia Ave Baltimore, MD	3.0	1.0	892	$1,750	$1.96	26d	1	0.84mi
405 N Edgewood St Baltimore, MD	4.0	2.0	1408	$2,750	$1.95	0d	1	0.84mi
917 Kevin Rd Baltimore, MD	3.0	2.0	1151	$1,795	$1.56	4d	1	0.86mi
613 S Beechfield Ave Baltimore, MD	3.0	1.5	1080	$1,950	$1.81	45d	1	0.86mi
3712 Gelston Dr Baltimore, MD	3.0	2.0	1250	$2,500	$2.00	26d	1	0.88mi
3507 Edmondson Ave Baltimore, MD	4.0	2.0	1428	$2,300	$1.61	45d	1	0.89mi
623 N Grantley St Baltimore, MD	4.0	2.0	1250	$2,000	$1.60	26d	1	0.91mi
643 S Wickham Rd Baltimore, MD	2.0	3.0	896	$1,800	$2.01	0d	1	0.92mi

Listing history 12 events

1. 2026-06-21
   days on market $135,000 Active 11 DOM
2. 2026-06-18
   days on market $135,000 Active 8 DOM
3. 2026-06-17
   days on market $135,000 Active 7 DOM
4. 2026-06-16
   days on market $135,000 Active 6 DOM
5. 2026-06-15
   days on market $135,000 Active 5 DOM
6. 2026-06-13
   statusdays on market $135,000 Active 3 DOM
7. 2026-06-09
   days on market $135,000 Coming Soon 7 DOM
8. 2026-06-08
   days on market $135,000 Coming Soon 6 DOM
9. 2026-06-07
   days on market $135,000 Coming Soon 5 DOM
10. 2026-06-04
    days on market $135,000 Coming Soon 2 DOM
11. 2026-06-02
    remarks 699-char remark
12. 2026-06-02
    listed $135,000 Coming Soon 1 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: $2,611 · $218/mo
• Projected year-2 tax: $2,611 · $218/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 5/10 Major 24% 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: $20,592
• − Mortgage interest: −$7,562
• − Property taxes: −$2,611
• − Insurance: −$675
• − Repairs & maintenance: −$1,647
• − Management: −$1,647
• − Depreciation: −$3,927
• Taxable income: $2,522
• Est. tax owed @ 24.0%: −$605
• After-tax cash flow: $3,881/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): 46,679
• Household income: $60,047
• Rent vs Own: 43.1% rent · 56.9% own
• Severe rent burden: 2776.0

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 15% Hispanic / Latino 6% Two or more races 4% Asian 3%
• Common ancestry: Lithuanian 1% Romanian 1% Serbian 1%
• Foreign-born: 5% · Canada, Philippines
• Languages at home: 91% English-only · Spanish 4% Other Indo-European 2% 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: ▼ -259.07%
• Current HPI: 226.896
• Rent YoY: ▲ 5.38%
• 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

+87.3% since first listed

24 events — show timeline

• 2026-06-02 Coming Soon $135,000 BRIGHT MLS
• 2009-10-26 Sold (Public Records) $134,900 Public Records
• 2009-10-20 Delisted — MRIS
• 2009-10-19 Sold (MLS) $134,900 BRIGHT MLS
• 2009-10-19 Sold (MLS) $134,900 MRIS
• 2009-10-19 Price Changed $134,990 MRIS
• 2009-10-10 Relisted — MRIS
• 2009-10-10 Price Changed $139,990 MRIS
• 2009-09-09 Listing Removed — BRIGHT MLS
• 2009-08-23 Delisted — MRIS
• 2009-08-23 Price Changed $134,900 MRIS
• 2009-08-16 Price Changed $129,900 MRIS
• 2009-08-11 Relisted — MRIS
• 2009-06-07 Delisted — MRIS
• 2009-04-23 Listed $134,990 BRIGHT MLS
• 2009-04-23 Price Changed $139,900 MRIS
• 2009-04-23 Listed $159,000 MRIS
• 1997-09-09 Sold (Public Records) $66,500 Public Records
• 1997-09-09 Sold (Public Records) $66,500 Public Records
• 1997-08-27 Sold (MLS) $66,000 MRIS
• 1997-07-16 Delisted — MRIS
• 1997-04-22 Listed $68,000 MRIS
• 1989-09-13 Sold (Public Records) $72,095 Public Records
• 1989-09-13 Sold (Public Records) $72,095 Public Records

Property tax history

+0.2%/yr

Latest (2025): $2,611 · +5.4% YoY. Source: county tax records.