3902 8th St · Baltimore, MD 21225

$164,900

3 bd · 1.0 ba · 1,088 sqft · Townhouse public records · 263 Days on market

Built 1942 1,632 sqft lot $152/sqft · at area comps Est $163k · at est.

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Why this score? — see what drove the C- 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 +23.1/30.0
• DSCR +7.4/10.0
• ARV discount +6.8/15.0
• 1% rule +6.0/10.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

SELLER IS OPEN TO NEGOTATING, PERSONAL ITEMS WILL BE REMOVED BEFORE SETTLEMENT!!! Looking for a great investment property in the hear of Brooklyn? You've found it! Come check out this great 3 bedroom, 1 bathroom row row home for sale. Some features of this property include; large basement great for storage, hardwood flooring, large deck in rear of home plus additional yard space, large living room and dining room, and much more. Tenants move out December 1, 2025. Come check it out before it's gone!

Key facts

• Hardwood flooring
• Large deck
• Large dining room

Tags

• LARGE BASEMENT
• HARDWOOD FLOORING
• LARGE DECK
• ADDITIONAL YARD SPACE
• LARGE LIVING ROOM
• LARGE DINING ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $165k.

Deal economics

• At list price, monthly cash flow is $296 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $145k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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 fast (+4.1%/yr); 165 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 40% of the median local income ($54k/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 $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

• It's been on market 263 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 6y ago; this cycle's ask is 10893% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $107k; list at $165k implies a 54% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1942 — 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 $145,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 263 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.10% ✓
• Cap rate: 8.45%
• Cash-on-cash: 7.70%
• DSCR: 1.34
• GRM: 7.5

CMA / ARV

• ARV (median comp): $162,542
• List price: $164,900
• Delta: 1.45%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3948 Brooklyn Ave	0.10mi	3/1.5	1,080 (-1%)	0mo	$90,000	$83	92
3712 8th St	0.12mi	2/1.5 (-1)	1,088 (0%)	0mo	$60,000	$55	87
916 Jack St	0.16mi	3/1.5	1,116 (+3%)	1mo	$145,000	$130	85
4009 8th St	0.07mi	2/2.5 (-1)	1,088 (0%)	2mo	$223,000	$205	84
814 Jack St	0.07mi	4/2.0 (+1)	1,116 (+3%)	1mo	$140,000	$125	83
3731 10th St	0.28mi	2/1.0 (-1)	1,041 (-4%)	3mo	$125,000	$120	72
4132 Doris Ave	0.24mi	3/1.5	992 (-9%)	1mo	$215,000	$217	71
3507 4th St	0.48mi	2/1.0 (-1)	1,102 (+1%)	2mo	$50,000	$45	69
4144 Townsend Ave	0.29mi	3/1.5	992 (-9%)	3mo	$90,100	$91	68
28 Talbott St	0.65mi	3/1.0	1,120 (+3%)	2mo	$80,000	$71	64
3916 2nd St	0.51mi	3/2.0	1,024 (-6%)	2mo	$247,000	$241	60
3541 3rd St	0.50mi	2/1.5 (-1)	1,190 (+9%)	2mo	$167,500	$141	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 · 4.08% rent growth · sell at horizon

5-year hold

• IRR: -3.3%
• Equity multiple: 0.87×
• Total profit: $-5,831
• Equity at exit: $24,587

10-year hold

• IRR: 7.6%
• Equity multiple: 1.60×
• Total profit: $27,716
• Equity at exit: $14,258

Cash invested: $46,172 (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 21225

• Home prices YoY: -31.9%
• Rents YoY: 4.1%
• Active inventory: 165
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,821 high
• Mortgage (P&I): −$865
• Tax from tax record: −$209 /mo · $2,507/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$382
• Net cashflow: $296

Break-even live

Break-even rent $1,446

Max offer price $164,900

Occupancy floor 79%

Sensitivity live

Price	-10% $389	-5% $343	+0% $296	+5% $249	+10% $203
Rent	-10% $152	-5% $224	+0% $296	+5% $368	+10% $440
Rate	-1.0pp $379	-0.5pp $338	base $296	+0.5pp $253	+1.0pp $210

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3840 8th St Brooklyn, MD	3.0	1.5	1088	$1,606	$1.48	5d	1	0.06mi
507 Washburn Ave Brooklyn, MD	3.0	1.5	1024	$2,500	$2.44	21d	1	0.19mi
507 Washburn Ave Brooklyn, MD	3.0	1.5	1024	$2,500	$2.44	5d	1	0.19mi
507 Washburn Ave Brooklyn, MD	3.0	1.5	1024	$2,500	$2.44	25d	1	0.19mi
4201 Audrey Ave Unit 1 Brooklyn, MD	2.0	1.0	1400	$1,350	$0.96	25d	1	0.24mi
4206 Audrey Ave Brooklyn, MD	2.0	2.0	1104	$1,275	$1.15	44d	1	0.24mi
4206 Audrey Ave Brooklyn, MD	3.0	3.0	1104	$1,950	$1.77	25d	1	0.24mi
3828 10th St Brooklyn, MD	3.0	2.0	1215	$2,350	$1.93	44d	1	0.25mi
3826 10th St Unit Entire House Baltimore, MD	3.0	2.0	1110	$2,400	$2.16	25d	1	0.25mi
3816 W Bay Ave Unit 1 Baltimore, MD	2.0	1.0	1364	$1,155	$0.85	4d	1	0.35mi
3528 6th St Brooklyn, MD	2.0	2.5	1060	$1,500	$1.42	19d	1	0.39mi
4400 4th St Unit BASEMENT Baltimore, MD	2.0	1.0	925	$1,350	$1.46	44d	1	0.40mi
3569 4th St Brooklyn, MD	2.0	1.5	1256	$1,200	$0.96	19d	1	0.42mi
1049 E Patapsco Ave Unit a Baltimore, MD	2.0	1.0	748	$1,257	$1.68	44d	1	0.42mi
4207 3rd St Unit 3 Brooklyn, MD	2.0	1.0	850	$1,595	$1.88	6d	1	0.43mi
3513 Horton Ave Brooklyn, MD	3.0	1.0	1020	$1,600	$1.57	19d	1	0.52mi
1305 E Patapsco Ave Brooklyn, MD	3.0	1.5	930	$1,650	$1.77	5d	1	0.54mi
5215 Wasena Ave Brooklyn, MD	3.0	1.0	1030	$1,650	$1.60	44d	1	0.54mi
1353 Cambria St Brooklyn, MD	3.0	2.0	986	$1,600	$1.62	19d	1	0.58mi
5227 Patrick Henry Dr Brooklyn, MD	2.0	1.0	736	$1,326	$1.80	23d	1	0.62mi
1 Ballman Ct Unit 2 Baltimore, MD	2.0	1.0	700	$1,250	$1.79	44d	1	0.63mi
4216 Prudence St Curtis Bay, MD	4.0	3.0	1116	$2,100	$1.88	44d	1	0.65mi
1517 Sycamore St Curtis Bay, MD	3.0	1.5	1210	$1,999	$1.65	25d	1	0.67mi
49 Talbott St Brooklyn, MD	2.0	1.0	1300	$1,300	$1.00	25d	1	0.68mi
1411 Filbert St Unit 2 Baltimore, MD	2.0	1.0	1428	$1,300	$0.91	44d	1	0.76mi
217 W Edgevale Rd Brooklyn, MD	3.0	1.5	992	$1,800	$1.81	25d	1	0.83mi
303 Arden Rd W Brooklyn, MD	3.0	2.0	1388	$2,500	$1.80	19d	1	0.86mi
90 Hammonds Ln Brooklyn Park, MD	1.0–2.0	1.0–2.0	757	$1,964	$2.59	3d	4	1.35mi
511 Seagull Ave Brooklyn, MD	2.0	1.0	756	$1,550	$2.05	25d	1	1.39mi
130 Reedbird Ave Brooklyn, MD	2.0	1.0	1152	$1,700	$1.48	25d	1	1.41mi

Listing history 34 events

1. 2026-06-21
   days on market $164,900 Active 263 DOM
2. 2026-06-18
   days on market $164,900 Active 260 DOM
3. 2026-06-17
   days on market $164,900 Active 259 DOM
4. 2026-06-16
   days on market $164,900 Active 258 DOM
5. 2026-06-15
   days on market $164,900 Active 257 DOM
6. 2026-06-13
   days on market $164,900 Active 255 DOM
7. 2026-06-09
   days on market $164,900 Active 251 DOM
8. 2026-06-08
   days on market $164,900 Active 250 DOM
9. 2026-06-07
   days on market $164,900 Active 249 DOM
10. 2026-06-04
    days on market $164,900 Active 246 DOM
11. 2026-06-03
    days on market $164,900 Active 245 DOM
12. 2026-06-02
    days on market $164,900 Active 244 DOM
13. 2026-06-01
    days on market $164,900 Active 243 DOM
14. 2026-05-31
    days on market $164,900 Active 242 DOM
15. 2025-10-28
    historical $1,500
16. 2025-10-02
    listed $1,500
17. 2025-10-01
    listed $164,900 Active 503-char remark

    Show marketing remark (503 chars)

    SELLER IS OPEN TO NEGOTATING, PERSONAL ITEMS WILL BE REMOVED BEFORE SETTLEMENT!!! Looking for a great investment property in the hear of Brooklyn? You've found it! Come check out this great 3 bedroom, 1 bathroom row row home for sale. Some features of this property include; large basement great for storage, hardwood flooring, large deck in rear of home plus additional yard space, large living room and dining room, and much more. Tenants move out December 1, 2025. Come check it out before it's gone!

18. 2025-05-24
    historical $1,500
19. 2025-05-24
    historical
20. 2025-05-17
    price $164,900
21. 2025-03-22
    listed $1,500
22. 2025-03-22
    listed $169,900 Active
23. 2025-03-20
    historical
24. 2023-12-13
    historical $1,450
25. 2023-12-13
    historical
26. 2023-09-28
    price $169,900
27. 2023-09-13
    price $1,450
28. 2023-09-12
    price $179,900
29. 2023-09-06
    listed $1,500
30. 2023-09-05
    listed $184,900 Active
31. 2023-04-11
    soldstatus $107,000
32. 2020-11-25
    historical
33. 2020-10-27
    listed $59,900 Active
34. 1997-03-20
    soldstatus $42,900

ⓘ 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: $2,507 · $209/mo
• Projected year-2 tax: $2,507 · $209/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 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,851
• − Mortgage interest: −$9,237
• − Property taxes: −$2,507
• − Insurance: −$824
• − Repairs & maintenance: −$1,748
• − Management: −$1,748
• − Depreciation: −$4,797
• Taxable income: $989
• Est. tax owed @ 24.0%: −$237
• After-tax cash flow: $3,316/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: Anne Arundel County · 535,653 people
• City population: 588,727
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 34,062
• Household income: $54,020
• Rent vs Own: 50.4% rent · 49.6% own
• Severe rent burden: 1440.0

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 0.68)
• Race & ethnicity: Black 42% White 32% Hispanic / Latino 20% Two or more races 8% Native American 3% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Romanian 2% Lithuanian 1% Iranian 1%
• Foreign-born: 12% · Canada, China
• Languages at home: 81% English-only · Spanish 16% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -119.44%
• Current HPI: 254.5089
• Rent YoY: ▲ 4.08%
• 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

-96.5% since first listed

20 events — show timeline

• 2025-10-28 Rental Removed $1,500 BRIGHTMLS
• 2025-10-02 Listed for Rent $1,500 BRIGHTMLS
• 2025-10-01 Listed $164,900 BRIGHT MLS
• 2025-05-24 Rental Removed $1,500 BRIGHTMLS
• 2025-05-24 Listing Removed — BRIGHT MLS
• 2025-05-17 Price Changed $164,900 BRIGHT MLS
• 2025-03-22 Listed for Rent $1,500 BRIGHTMLS
• 2025-03-22 Listed $169,900 BRIGHT MLS
• 2025-03-20 Coming Soon — BRIGHT MLS
• 2023-12-13 Rental Removed $1,450 BRIGHTMLS
• 2023-12-13 Listing Removed — BRIGHT MLS
• 2023-09-28 Price Changed $169,900 BRIGHT MLS
• 2023-09-13 Price Changed $1,450 BRIGHTMLS
• 2023-09-12 Price Changed $179,900 BRIGHT MLS
• 2023-09-06 Listed for Rent $1,500 BRIGHTMLS
• 2023-09-05 Listed $184,900 BRIGHT MLS
• 2023-04-11 Sold (Public Records) $107,000 Public Records
• 2020-11-25 Listing Removed — BRIGHT MLS
• 2020-10-27 Listed $59,900 BRIGHT MLS
• 1997-03-20 Sold (Public Records) $42,900 Public Records

Property tax history

+2.9%/yr

Latest (2025): $2,507 · +20.6% YoY. Source: county tax records.