7104 Harford Rd · Baltimore, MD 21234

$369,900

9 bd · 3.5 ba · 1,636 sqft · MultiFamily public records · 22 Days on market

Built 1930 2,530 sqft lot

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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 +21.8/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +5.1/10.0
• Rent growth +4.2/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

3-unit commercial mixed use property. The ground level commercial unit offers street signage and is rented to a beauty salon. There are two additional 1 bedroom residential units on the upper two floors. All units are individually metered and have separate heat (has furnaces for residential, electric for salon). Lead certificates available. Great ROI! Prime commercial spot with rear parking! Make your appointment today!

Key facts

• Separate heat
• Rent-ready
• Individually metered

Tags

• GROUND-LEVEL COMMERCIAL UNIT
• SECOND-FLOOR ONE-BEDROOM UNIT
• THIRD-FLOOR UNIT
• RENT-READY
• INDIVIDUALLY METERED
• SEPARATE HEAT

Property features AI

Exterior

• Parking: Driveway parking (2 spaces); Off-street parking; Total of 2 garage/parking spaces
• Utilities: Public water; Public sewer; Electric available; Natural gas available
• Home design: End of row/townhouse; Fee simple ownership
• Construction: Brick construction
• Exterior features: Concrete perimeter foundation; Above-grade and below-grade structures

Interior

• Kitchen: Dishwasher; Stove; Refrigerator
• Bedrooms: One single-room unit; One 1-bedroom unit; One 2-bedroom unit
• Heating & cooling: Radiator heating; Window AC units; Ceiling fans; Heating fuel: Natural gas and electric; Cooling fuel: Electric; Hot water: Natural gas
• Interior features: End of row/townhouse layout; No basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3 × 1-bed/1-bath units multifamily listed at $370k.

Deal economics

• At list price, monthly cash flow is $577 ($7k/yr) — positive. Per door: $192/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $370k).
• Recommended offer: $364k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.2% 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 (+6.7%/yr); 225 active listings in the ZIP; solid renter incomes; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• At $3,754/mo this rent would consume 54% of the median local household income ($84k/yr) (locally 2719% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k 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 + 6.7% rent growth), your $104k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($364k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 9y 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 $177k; list at $370k implies a 109% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — 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 $364,351 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.01% ✓
• Cap rate: 8.17%
• Cash-on-cash: 6.69%
• DSCR: 1.30
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.68% rent growth · sell at horizon

5-year hold

• IRR: -2.2%
• Equity multiple: 0.92×
• Total profit: $-8,801
• Equity at exit: $55,153

10-year hold

• IRR: 11.0%
• Equity multiple: 2.00×
• Total profit: $103,300
• Equity at exit: $31,982

Cash invested: $103,572 (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 21234

• Rents YoY: 6.7%
• Active inventory: 225
• Price-to-rent: 24.6×

Monthly cashflow live

• Estimated rent: $3,754 high
• Mortgage (P&I): −$1,940
• Tax from tax record: −$294 /mo · $3,533/yr
• Insurance: −$154
• HOA: −$0
• Vacancy / Maint / Mgmt: −$788
• Net cashflow: $577

Break-even live

Break-even rent $3,023

Max offer price $369,900

Occupancy floor 80%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$3,753
Total (3 units)			$3,754

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: $92,475
• Closing costs: $11,097
• Reserves months: —
• Total cash needed: —

Listing history 41 events

1. 2026-06-18
   days on market $369,900 Active 22 DOM
2. 2026-06-17
   days on market $369,900 Active 21 DOM
3. 2026-06-16
   days on market $369,900 Active 20 DOM
4. 2026-06-15
   days on market $369,900 Active 19 DOM
5. 2026-06-13
   days on market $369,900 Active 17 DOM
6. 2026-06-09
   days on market $369,900 Active 13 DOM
7. 2026-06-08
   days on market $369,900 Active 12 DOM
8. 2026-06-07
   days on market $369,900 Active 11 DOM
9. 2026-06-04
   days on market $369,900 Active 8 DOM
10. 2026-06-03
    days on market $369,900 Active 7 DOM
11. 2026-06-02
    days on market $369,900 Active 6 DOM
12. 2026-06-01
    days on market $369,900 Active 5 DOM
13. 2026-05-31
    days on market $369,900 Active 4 DOM
14. 2026-05-28
    listed $369,900 Active
15. 2021-12-15
    soldstatus $177,000
16. 2021-09-23
    soldstatus $177,000 Closed 425-char remark

    Show marketing remark (490 chars)

    3-unit mixed use property. The ground level commercial unit offers street signage and is rented to a beauty salon. There are two additional 1 bedroom residential units on the upper two floors that have been recently renovated. All units are individually metered and have separate heat (gas furnaces for residential, electric for salon). Lead certificates available. Great ROI! Prime commercial spot with rear parking and the possibility of parking in the front! Make your appointment today!

17. 2021-09-23
    soldstatus $177,000 Closed 490-char remark

    Show marketing remark (490 chars)

    3-unit mixed use property. The ground level commercial unit offers street signage and is rented to a beauty salon. There are two additional 1 bedroom residential units on the upper two floors that have been recently renovated. All units are individually metered and have separate heat (gas furnaces for residential, electric for salon). Lead certificates available. Great ROI! Prime commercial spot with rear parking and the possibility of parking in the front! Make your appointment today!

18. 2021-02-10
    status Pending 490-char remark

    Show marketing remark (425 chars)

    3-unit commercial mixed use property. The ground level commercial unit offers street signage and is rented to a beauty salon. There are two additional 1 bedroom residential units on the upper two floors. All units are individually metered and have separate heat (has furnaces for residential, electric for salon). Lead certificates available. Great ROI! Prime commercial spot with rear parking! Make your appointment today!

19. 2021-02-10
    status Pending 425-char remark

    Show marketing remark (425 chars)

    3-unit commercial mixed use property. The ground level commercial unit offers street signage and is rented to a beauty salon. There are two additional 1 bedroom residential units on the upper two floors. All units are individually metered and have separate heat (has furnaces for residential, electric for salon). Lead certificates available. Great ROI! Prime commercial spot with rear parking! Make your appointment today!

20. 2020-11-05
    price $180,000 490-char remark

    Show marketing remark (425 chars)

    3-unit commercial mixed use property. The ground level commercial unit offers street signage and is rented to a beauty salon. There are two additional 1 bedroom residential units on the upper two floors. All units are individually metered and have separate heat (has furnaces for residential, electric for salon). Lead certificates available. Great ROI! Prime commercial spot with rear parking! Make your appointment today!

21. 2020-11-05
    price $180,000 425-char remark

    Show marketing remark (425 chars)

    3-unit commercial mixed use property. The ground level commercial unit offers street signage and is rented to a beauty salon. There are two additional 1 bedroom residential units on the upper two floors. All units are individually metered and have separate heat (has furnaces for residential, electric for salon). Lead certificates available. Great ROI! Prime commercial spot with rear parking! Make your appointment today!

22. 2020-10-16
    listed $185,000 Active 425-char remark

    Show marketing remark (490 chars)

    3-unit mixed use property. The ground level commercial unit offers street signage and is rented to a beauty salon. There are two additional 1 bedroom residential units on the upper two floors that have been recently renovated. All units are individually metered and have separate heat (gas furnaces for residential, electric for salon). Lead certificates available. Great ROI! Prime commercial spot with rear parking and the possibility of parking in the front! Make your appointment today!

23. 2020-10-16
    listed $185,000 Active 490-char remark

    Show marketing remark (490 chars)

    3-unit mixed use property. The ground level commercial unit offers street signage and is rented to a beauty salon. There are two additional 1 bedroom residential units on the upper two floors that have been recently renovated. All units are individually metered and have separate heat (gas furnaces for residential, electric for salon). Lead certificates available. Great ROI! Prime commercial spot with rear parking and the possibility of parking in the front! Make your appointment today!

24. 2020-08-27
    status Pending
25. 2020-08-27
    status Pending
26. 2020-08-27
    historical
27. 2020-08-27
    historical
28. 2020-07-30
    listed $185,000 Active
29. 2020-07-30
    listed $185,000 Active
30. 2018-11-19
    historical
31. 2018-11-19
    status Active
32. 2018-11-01
    historical
33. 2018-09-12
    historical
34. 2018-09-12
    listed $100,000 Active
35. 2018-09-12
    historical Withdrawn
36. 2018-06-16
    price $184,998
37. 2018-06-16
    price
38. 2018-05-14
    price $184,999
39. 2018-05-14
    price
40. 2017-09-16
    listed Active
41. 2017-09-16
    listed $185,000 Active

ⓘ 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: $3,533 · $294/mo
• Projected year-2 tax: $3,782 · $315/mo
• Expected delta: +$250/yr (+$21/mo · 7.1%)

ⓘ 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 ≥104°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: $45,048
• − Mortgage interest: −$20,720
• − Property taxes: −$3,533
• − Insurance: −$1,850
• − Repairs & maintenance: −$3,604
• − Management: −$3,604
• − Depreciation: −$10,761
• Taxable income: $977
• Est. tax owed @ 24.0%: −$235
• After-tax cash flow: $6,694/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): 66,334
• Household income: $83,517
• Rent vs Own: 35.5% rent · 64.5% own
• Severe rent burden: 2719.0

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 0.58)
• Race & ethnicity: White 58% Black 28% Asian 5% Hispanic / Latino 5% Two or more races 5%
• Common ancestry: Romanian 5% Lithuanian 1% Italian 1%
• Foreign-born: 10% · Canada, China, South Korea
• Languages at home: 89% English-only · Spanish 3% Other Indo-European 2% Tagalog/Filipino 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: ▼ -247.04%
• Current HPI: 254.3824
• Rent YoY: ▲ 6.68%
• 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

+99.9% since first listed

28 events — show timeline

• 2026-05-28 Listed $369,900 BRIGHT MLS
• 2021-12-15 Sold (Public Records) $177,000 Public Records
• 2021-09-23 Sold (MLS) $177,000 BRIGHT MLS
• 2021-09-23 Sold (MLS) $177,000 BRIGHT MLS
• 2021-02-10 Pending — BRIGHT MLS
• 2021-02-10 Pending — BRIGHT MLS
• 2020-11-05 Price Changed $180,000 BRIGHT MLS
• 2020-11-05 Price Changed $180,000 BRIGHT MLS
• 2020-10-16 Listed $185,000 BRIGHT MLS
• 2020-10-16 Listed $185,000 BRIGHT MLS
• 2020-08-27 Pending — BRIGHT MLS
• 2020-08-27 Pending — BRIGHT MLS
• 2020-08-27 Listing Removed — BRIGHT MLS
• 2020-08-27 Listing Removed — BRIGHT MLS
• 2020-07-30 Listed $185,000 BRIGHT MLS
• 2020-07-30 Listed $185,000 BRIGHT MLS
• 2018-11-19 Listing Removed — BRIGHT MLS
• 2018-11-19 Relisted — BRIGHT MLS
• 2018-11-01 Listing Removed — BRIGHT MLS
• 2018-09-12 Listing Removed — BRIGHT MLS
• 2018-09-12 Delisted — MRIS
• 2018-09-12 Listed $100,000 BRIGHT MLS
• 2018-06-16 Price Changed $184,998 BRIGHT MLS
• 2018-06-16 Price Changed — MRIS
• 2018-05-14 Price Changed $184,999 BRIGHT MLS
• 2018-05-14 Price Changed — MRIS
• 2017-09-16 Listed — MRIS
• 2017-09-16 Listed $185,000 BRIGHT MLS

Property tax history

+0.1%/yr

Latest (2025): $3,533 · +6.5% YoY. Source: county tax records.