3804 Mount Pleasant Ave · Baltimore, MD 21224

$158,000

2 bd · 2.0 ba · 1,188 sqft · Townhouse public records · 7 Days on market

Built 1920 6,098 sqft lot Est $272k · 42% 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 +27.2/30.0
• ARV discount +15.0/15.0
• DSCR +9.4/10.0
• 1% rule +7.7/10.0
• Livability +3.8/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Located in the heart of Highlandtown! Charming Home with just the right amount of efficient space- Open floor plan on the main level. Easy maintenance laminate flooring. Spacious eat in kitchen with natural wood cabinets. Central air and ceiling fan help with your utility bills. Neutral decor. Fenced rear patio/yard. Basement has storage/laundry area as well as usable space for rooms or more living area. . two bedrooms and a full bath on the upper level and a full bath on the main level - -Freshly painted -- Central location to walk to "The Avenue" for shopping. . Patterson Park is nearby and minutes to Canton, Downtown Baltimore and Hopkins. Nice starter home in one of Balti

Key facts

• Open floor plan
• Fenced rear patio
• Storage laundry area

Tags

• OPEN FLOOR PLAN
• SPACIOUS EAT IN KITCHEN
• NATURAL WOOD CABINETS
• CENTRAL AIR
• FENCED REAR PATIO
• STORAGE LAUNDRY AREA

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas hot water; Electric cooling
• Home design: Interior townhouse / rowhouse; Fee simple ownership
• Construction: Brick construction; Brick/mortar foundation; Other foundation details
• Exterior features: Awnings; Rear fencing; Daylight/partial daylight basement with windows; Basement interior access and connecting stairway; Basement space suitable for finished rooms (above- and below-grade structures noted)

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Stove
• Bedrooms: Two bedrooms on the first upper level
• Flooring: Laminate plank flooring; Ceramic tile flooring
• Bathrooms: Two full bathrooms (one on main level, one on first upper level)
• Heating & cooling: Forced air heating; Natural gas heating; Central air conditioning (electric)
• Interior features: Open floor plan; Family room off the kitchen; Ceiling fans; Stall shower; Kitchen with table space / eat-in area
• Laundry & utility: Washer included; Washer/dryer hookups (basement); Washer in unit; Basement laundry hookups

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $158k.

Deal economics

• At list price, monthly cash flow is $451 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $158k).
• Cap rate 9.7% 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 (+1.3%/yr); 393 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 10y 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 $99k; list at $158k implies a 60% 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 wind risk, 27% 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 $158,000

Questions for the listing agent

1. Built in 1920 — 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: 1.27% ✓
• Cap rate: 9.72%
• Cash-on-cash: 12.23%
• DSCR: 1.54
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $272,052
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
149 N Highland Ave	0.34mi	2/1.0	1,170 (-2%)	1mo	$75,000	$64	77
111 N Highland Ave	0.30mi	3/1.5 (+1)	1,170 (-2%)	1mo	$105,000	$90	76
3420 Leverton Ave	0.19mi	2/2.0	1,340 (+13%)	1mo	$115,000	$86	69
309 S Fagley St	0.18mi	2/2.0	1,030 (-13%)	1mo	$225,000	$218	69
134 N Curley St	0.61mi	2/2.0	1,170 (-2%)	1mo	$270,000	$231	68
122 Ellwood Ave	0.50mi	3/1.5 (+1)	1,200 (+1%)	0mo	$235,000	$196	68
922 S Bouldin St	0.70mi	2/2.0	1,202 (+1%)	1mo	$352,000	$293	65
280 S Robinson St	0.43mi	2/1.0	1,282 (+8%)	1mo	$294,000	$229	62
3135 Mcelderry St	0.61mi	3/2.0 (+1)	1,224 (+3%)	1mo	$234,000	$191	60
14 S Curley St	0.56mi	2/1.0	1,092 (-8%)	1mo	$269,000	$246	55
806 S Bouldin St	0.63mi	2/2.5	1,080 (-9%)	1mo	$360,000	$333	52
621 Ponca St	0.68mi	3/2.0 (+1)	1,116 (-6%)	1mo	$300,000	$269	52

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 · 1.31% rent growth · sell at horizon

5-year hold

• IRR: -0.1%
• Equity multiple: 1.00×
• Total profit: $-180
• Equity at exit: $23,558

10-year hold

• IRR: 7.7%
• Equity multiple: 1.54×
• Total profit: $23,746
• Equity at exit: $13,661

Cash invested: $44,240 (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 21224

• Rents YoY: 1.3%
• Active inventory: 393
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $2,007 high
• Mortgage (P&I): −$829
• Tax from tax record: −$240 /mo · $2,880/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$421
• Net cashflow: $451

Break-even live

Break-even rent $1,436

Max offer price $158,000

Occupancy floor 73%

Sensitivity live

Price	-10% $540	-5% $496	+0% $451	+5% $406	+10% $362
Rent	-10% $292	-5% $372	+0% $451	+5% $530	+10% $609
Rate	-1.0pp $531	-0.5pp $491	base $451	+0.5pp $410	+1.0pp $368

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: $39,500
• Closing costs: $4,740
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
115 S Eaton St Baltimore, MD	3.0	2.5	1393	$1,800	$1.29	17d	1	0.02mi
3710 E Pratt St Baltimore, MD	2.0	3.5	1230	$1,900	$1.54	25d	1	0.09mi
223 Grundy St Baltimore, MD	2.0	1.0	864	$1,450	$1.68	25d	1	0.11mi
201 S Conkling St Baltimore, MD	1.0	1.0	740	$1,500	$2.03	3d	2	0.14mi
3436 Leverton Ave Baltimore, MD	3.0	3.5	1500	$2,350	$1.57	25d	1	0.18mi
321 Fagley St Baltimore, MD	2.0	1.0	800	$1,650	$2.06	21d	1	0.19mi
3413 Leverton Ave Baltimore, MD	2.0	1.0	832	$1,000	$1.20	25d	1	0.20mi
3430 E Baltimore St Baltimore, MD	3.0	2.5	1316	$2,250	$1.71	25d	1	0.22mi
235 S Highland Ave Baltimore, MD	2.0	1.5	1222	$2,000	$1.64	25d	1	0.25mi
3905 Bank St Baltimore, MD	4.0	1.0–3.0	909	$2,350	$2.58	3d	20	0.26mi
400 S Conkling St Unit 3 Baltimore, MD	1.0	1.0	700	$1,700	$2.43	45d	1	0.28mi
4015 Eastern Ave Unit 2L Baltimore, MD	3.0	2.0	1100	$1,800	$1.64	45d	1	0.33mi
106 S Bouldin St Baltimore, MD	2.0	3.0	1134	$2,100	$1.85	21d	1	0.33mi
400 S Highland Ave Unit 402 Baltimore, MD	2.0	1.0	900	$1,700	$1.89	45d	1	0.34mi
502 S Haven St Baltimore, MD	2.0	2.5	1440	$2,400	$1.67	17d	1	0.35mi
502 S Haven St Baltimore, MD	2.0	2.5	1440	$2,400	$1.67	25d	1	0.35mi
113 N Clinton St Baltimore, MD	2.0	1.0	1300	$1,995	$1.53	45d	1	0.36mi
3801 Fleet St Unit 209 Baltimore, MD	1.0	1.5	814	$1,899	$2.33	45d	1	0.38mi
611 Grundy St Baltimore, MD	3.0	2.0	1434	$2,700	$1.88	25d	1	0.39mi
127 S Robinson St Baltimore, MD	2.0	1.5	1400	$2,000	$1.43	45d	1	0.40mi
3232 Eastern Ave Baltimore, MD	1.0	1.5	874	$2,260	$2.59	3d	1	0.40mi
133 S Macon St Baltimore, MD	2.0	2.5	1440	$2,400	$1.67	19d	1	0.41mi
17 N East Ave Baltimore, MD	2.0	2.0	1326	$2,550	$1.92	25d	1	0.41mi
3205 Esther Pl Baltimore, MD	2.0	2.0	960	$1,850	$1.93	25d	1	0.43mi
29 N Ellwood Ave Baltimore, MD	3.0	1.5	1100	$2,395	$2.18	25d	1	0.46mi
410 S Newkirk St Baltimore, MD	2.0	1.5	1330	$1,580	$1.19	45d	1	0.49mi
527 S Lehigh St Baltimore, MD	3.0	2.0	1320	$2,325	$1.76	45d	1	0.51mi
203 N Ellwood Ave Unit Main Baltimore, MD	2.0	2.0	880	$2,200	$2.50	25d	1	0.52mi
404 N Robinson St Baltimore, MD	3.0	3.0	1320	$2,200	$1.67	25d	1	0.56mi
404 N Robinson St Baltimore, MD	3.0	3.0	1320	$2,100	$1.59	17d	1	0.56mi
4505 Foster Ave Baltimore, MD	3.0	3.0	1376	$2,650	$1.93	25d	1	0.56mi
102 S Curley St Baltimore, MD	2.0	1.5	1200	$1,800	$1.50	5d	1	0.57mi
3245 Fait Ave Baltimore, MD	3.0	2.0	1470	$2,900	$1.97	45d	1	0.59mi
3304 McElderry St Baltimore, MD	3.0	2.0	1413	$1,900	$1.34	45d	1	0.61mi
3200 Fait Ave Baltimore, MD	1.0	1.0	800	$1,700	$2.12	3d	1	0.61mi
150 N Curley St Baltimore, MD	2.0	2.5	1266	$1,850	$1.46	19d	1	0.62mi
611 Oldham St Baltimore, MD	2.0	1.0	1148	$1,800	$1.57	13d	1	0.62mi
3610 Dillon St Baltimore, MD	1.0–2.0	1.0–2.0	828	$2,820	$3.41	45d	1	0.63mi
34 N Linwood Ave Baltimore, MD	2.0	1.5	1288	$2,400	$1.86	25d	1	0.63mi
10 N Streeper St Baltimore, MD	3.0	2.5	1440	$2,500	$1.74	25d	1	0.66mi

Listing history 6 events

1. 2026-06-21
   days on market $158,000 Active 7 DOM
2. 2026-06-18
   days on market $158,000 Active 4 DOM
3. 2026-06-17
   days on market $158,000 Active 3 DOM
4. 2026-06-16
   days on market $158,000 Active 2 DOM
5. 2026-06-15
   remarks 689-char remark
6. 2026-06-15
   listed $158,000 Active 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: $2,880 · $240/mo
• Projected year-2 tax: $2,880 · $240/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 8/10 Severe 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,081
• − Mortgage interest: −$8,850
• − Property taxes: −$2,880
• − Insurance: −$790
• − Repairs & maintenance: −$1,926
• − Management: −$1,926
• − Depreciation: −$4,596
• Taxable income: $3,112
• Est. tax owed @ 24.0%: −$747
• After-tax cash flow: $4,665/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): 47,465
• Household income: $89,017
• Rent vs Own: 41.5% rent · 58.5% own
• Severe rent burden: 1786.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 55% Hispanic / Latino 21% Black 16% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2% Dominican 1%
• Common ancestry: Romanian 5% Lithuanian 2% Italian 1%
• Foreign-born: 17% · Canada, China, Vietnam
• Languages at home: 76% English-only · Spanish 18% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -332.23%
• Current HPI: 241.284
• Rent YoY: ▲ 1.31%
• 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

+358.0% since first listed

21 events — show timeline

• 2026-06-14 Listed $158,000 BRIGHT MLS
• 2025-05-01 Listing Removed — BRIGHT MLS
• 2025-04-17 Price Changed $135,950 BRIGHT MLS
• 2025-04-03 Price Changed $136,500 BRIGHT MLS
• 2025-03-27 Price Changed $137,750 BRIGHT MLS
• 2025-03-12 Price Changed $139,900 BRIGHT MLS
• 2025-03-01 Listed $142,000 BRIGHT MLS
• 2017-06-10 Listing Removed — BRIGHT MLS
• 2017-06-10 Delisted — MRIS
• 2017-06-01 Sold (Public Records) $99,000 Public Records
• 2017-04-28 Sold (MLS) $99,000 MRIS
• 2017-04-28 Sold (MLS) $99,000 BRIGHT MLS
• 2017-03-27 Listed $99,000 MRIS
• 2017-03-27 Delisted — MRIS
• 2017-03-06 Price Changed — MRIS
• 2017-02-26 Relisted — MRIS
• 2016-12-31 Pending — MRIS
• 2016-12-12 Listed — MRIS
• 2016-12-12 Listed $105,000 BRIGHT MLS
• 1994-12-16 Sold (Public Records) $54,900 Public Records
• 1989-03-02 Sold (Public Records) $34,500 Public Records

Property tax history

+2.1%/yr

Latest (2025): $2,880 · +6.1% YoY. Source: county tax records.