4811 Liberty Heights Ave · Baltimore, MD 21207

$210,000

6 bd · 2.0 ba · 1,944 sqft · SingleFamily public records · 9 Days on market

Built 1925 7,000 sqft lot Est $325k · 35% 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 +19.2/30.0
• ARV discount +15.0/15.0
• Appreciation +9.8/10.0
• DSCR +6.0/10.0
• 1% rule +5.7/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0

Listing remarks

Discover a remarkable investment opportunity at 4811 Liberty Heights Ave! This versatile mixed-use property boasts two units, each featuring separate entrances and meters. Both units include three bedrooms, presenting significant rental income potential. The current configuration comprises a first-floor office/flex space and a second-floor unit that is tenant-occupied, making it ideal for investors seeking immediate cash flow or future repositioning options. Both tenants will be vacating on July 1, 2026. Located on a spacious lot, the property includes a detached garage and offers easy access to major roads, shopping centers, and public transit. The property is being sold AS-IS, with cash o

Key facts

• First-floor office
• Spacious lot
• Tenant-occupied unit

Tags

• MIXED-USE PROPERTY
• SEPARATE ENTRANCES
• SIGNIFICANT RENTAL INCOME
• FIRST-FLOOR OFFICE
• TENANT-OCCUPIED UNIT
• SPACIOUS LOT

Property features AI

Finance

• Financial info: Two-unit investment with both units leased month-to-month; Units currently not furnished
• HOA & community: Ground rent paid annually

Exterior

• Parking: Detached garage with covered parking for 2 cars
• Utilities: Public water; Public sewer; Electric cooling fuel; Natural gas for heating and hot water
• Home design: Semi-detached property; Fee simple ownership
• Construction: Aluminum siding; Brick/mortar foundation; Above-grade and below-grade structures; Built year source: Assessor
• Exterior features: Community pool; Property located within city limits

Interior

• Bedrooms: Two three-bedroom units
• Heating & cooling: 90% forced air heating; Radiator heating; Natural gas heating; Central air conditioning (electric); Natural gas hot water
• Interior features: Two-unit semi-detached building

🏷️ Possibly a rental listed for sale. The $210,000 price doesn't fit this home's estimated sale value (~$324,648) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $226 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $210k).
• Cap rate 7.6% vs local median 6.0% in Baltimore — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 fast (+5.2%/yr); 126 active listings in the ZIP; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• This rent runs 40% 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 $21k of equity ($1k loan paydown + $20k 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 $59k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k 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.
• 6 sale attempts since 30y 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.
• Current owner paid $68k; list at $210k implies a 208% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: 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 $210,000

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.07% ✓
• Cap rate: 7.58%
• Cash-on-cash: 4.61%
• DSCR: 1.20
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $324,648
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3221 Milford Ave	0.26mi	5/2.0 (-1)	1,915 (-2%)	5mo	$289,000	$151	76
3818 Woodbine Ave	0.36mi	7/2.0 (+1)	1,970 (+1%)	6mo	$220,000	$112	70
4315 Springdale Ave	0.45mi	5/2.5 (-1)	1,928 (-1%)	1mo	$160,000	$83	70
4213 Springdale Ave	0.53mi	5/3.0 (-1)	2,002 (+3%)	3mo	$370,000	$185	59
4306 Fernhill Ave	0.52mi	6/4.5	2,085 (+7%)	0mo	$435,000	$209	53
4713 Norwood Ave	0.22mi	7/4.0 (+1)	1,785 (-8%)	12mo	$412,500	$231	53
5300 Merceron Ave	0.50mi	5/3.5 (-1)	2,100 (+8%)	10mo	$405,000	$193	44
3208 Brightwood Ave	0.36mi	5/3.0 (-1)	2,232 (+15%)	8mo	$373,000	$167	43
3912 Milford Ave	0.44mi	5/3.0 (-1)	2,136 (+10%)	13mo	$314,000	$147	43
4414 Wentworth Rd	0.44mi	5/3.0 (-1)	1,708 (-12%)	11mo	$164,000	$96	41
4003 Springdale Ave	0.73mi	6/3.0	2,175 (+12%)	2mo	$200,000	$92	40
4012 Kathland Ave	0.70mi	5/4.0 (-1)	2,100 (+8%)	14mo	$364,000	$173	29

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: 27.6%
• Equity multiple: 3.16×
• Total profit: $126,861
• Equity at exit: $181,568

10-year hold

• IRR: 24.9%
• Equity multiple: 7.33×
• Total profit: $372,260
• Equity at exit: $383,726

Cash invested: $58,800 (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 21207

• Home prices YoY: 1.1%
• Rents YoY: 5.2%
• Active inventory: 126
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,257 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$369 /mo · $4,423/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$474
• Net cashflow: $226

Break-even live

Break-even rent $1,971

Max offer price $210,000

Occupancy floor 85%

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-05-17
   listed $210,000 Active
2. 2025-07-21
   historical
3. 2025-06-11
   listed $234,999 Active
4. 2003-06-26
   soldstatus $68,200
5. 2000-06-05
   historical
6. 2000-01-05
   listed
7. 1999-12-21
   historical
8. 1999-12-21
   historical
9. 1999-06-21
   listed
10. 1999-06-21
    listed
11. 1997-03-29
    historical
12. 1996-09-30
    listed

ⓘ 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: $4,423 · $369/mo
• Projected year-2 tax: $4,423 · $369/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 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: $27,084
• − Mortgage interest: −$11,763
• − Property taxes: −$4,423
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,167
• − Management: −$2,167
• − Depreciation: −$6,109
• Taxable loss: −$595
• Est. tax savings @ 24.0%: +$143
• After-tax cash flow: $2,851/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

+207.9% since first listed

12 events — show timeline

• 2026-05-17 Listed $210,000 BRIGHT MLS
• 2025-07-21 Listing Removed — BRIGHT MLS
• 2025-06-11 Listed $234,999 BRIGHT MLS
• 2003-06-26 Sold (Public Records) $68,200 Public Records
• 2000-06-05 Delisted — MRIS
• 2000-01-05 Listed — MRIS
• 1999-12-21 Delisted — MRIS
• 1999-12-21 Delisted — MRIS
• 1999-06-21 Listed — MRIS
• 1999-06-21 Listed — MRIS
• 1997-03-29 Delisted — MRIS
• 1996-09-30 Listed — MRIS

Property tax history

+1.8%/yr

Latest (2025): $4,423 · +4.7% YoY. Source: county tax records.