3928 8th St · Baltimore, MD 21225

$125,000

4 bd · 2.0 ba · 1,408 sqft · Townhouse public records · 103 Days on market

Built 1942 1,306 sqft lot $89/sqft · 56% below area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Investor Opportunity! Income-producing duplex delivering $24,000/year gross rent from day one. Each unit offers 2 bedrooms and 2 full bathrooms and is tenant-occupied at $1,000/month. Strong cash-flow potential with value-add upside as rents are below market. Ideal for investors seeking a stabilized asset with immediate returns and long-term appreciation potential. Convenient location near commuter routes, shopping, and local amenities. BACK ON MARKET - BUYER BACKED OUT - RARE OPPORTUNITY!

Key facts

• 1,306 sq ft lot
• Built 1942
• Listed 103 days

🏷️ Possibly a rental listed for sale. The $125,000 price doesn't fit this home's estimated sale value (~$286,979) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath townhouse listed at $125k.

Deal economics

• At list price, monthly cash flow is $806 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $114k (9.0% below list) — sets the bar for market timing.
• Cap rate 14.0% 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; 19 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).
• At $2,044/mo this rent would consume 45% of the median local household income ($54k/yr) (locally 1440% 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 $864 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 + 4.1% rent growth), your $35k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 103 days — a 9% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 19y ago; this cycle's ask has dropped $25k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $113,750 (9.0% below list)

Questions for the listing agent

1. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 9% 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: 1.64% ✓
• Cap rate: 14.03%
• Cash-on-cash: 27.65%
• DSCR: 2.23
• GRM: 5.1

CMA / ARV

• ARV (median comp): $286,979
• List price: $125,000
• Delta: -56.44%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3822 6th St	0.18mi	3/2.0 (-1)	1,380 (-2%)	6mo	$185,000	$134	78
4128 Audrey Ave	0.18mi	3/2.0 (-1)	1,380 (-2%)	7mo	$99,000	$72	78
4135 Doris Ave	0.22mi	3/1.5 (-1)	1,392 (-1%)	9mo	$211,000	$152	74
3614 Saint Margaret	0.35mi	4/2.0	1,265 (-10%)	0mo	$185,000	$146	67
3808 6th St	0.19mi	3/1.0 (-1)	1,260 (-10%)	3mo	$220,000	$175	62
532 Pontiac Ave	0.28mi	3/3.0 (-1)	1,540 (+9%)	2mo	$203,000	$132	60
3824 W Bay Ave W	0.32mi	3/2.0 (-1)	1,240 (-12%)	7mo	$169,900	$137	54
4213 Doris Ave	0.28mi	3/1.5 (-1)	1,240 (-12%)	10mo	$200,000	$161	52
516 Arsan Ave	0.53mi	3/3.0 (-1)	1,294 (-8%)	2mo	$190,000	$147	51
1326 Tompkins St	0.58mi	3/2.0 (-1)	1,554 (+10%)	3mo	$205,000	$132	48
5201 Brookwood Rd	0.73mi	5/3.0 (+1)	1,320 (-6%)	0mo	$165,000	$125	46
1102 Inner Cir	0.40mi	3/1.5 (-1)	1,599 (+14%)	8mo	$205,000	$128	46

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: 22.9%
• Equity multiple: 1.95×
• Total profit: $33,346
• Equity at exit: $18,638

10-year hold

• IRR: 31.5%
• Equity multiple: 3.99×
• Total profit: $104,574
• Equity at exit: $10,808

Cash invested: $35,000 (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: 5.1×

Monthly cashflow live

• Estimated rent: $2,044 high
• Mortgage (P&I): −$656
• Tax from tax record: −$101 /mo · $1,209/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$429
• Net cashflow: $806

Break-even live

Break-even rent $1,023

Max offer price $125,000

Occupancy floor 56%

Sensitivity live

Price	-10% $877	-5% $842	+0% $806	+5% $771	+10% $736
Rent	-10% $645	-5% $726	+0% $806	+5% $887	+10% $968
Rate	-1.0pp $869	-0.5pp $838	base $806	+0.5pp $774	+1.0pp $741

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 19 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
3822 6th St Brooklyn, MD	3.0	3.0	1580	$1,850	$1.17	24d	1	0.16mi
507 Washburn Ave Brooklyn, MD	3.0	1.5	1024	$2,500	$2.44	24d	1	0.19mi
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
4206 Audrey Ave Brooklyn, MD	3.0	3.0	1104	$1,950	$1.77	24d	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	24d	1	0.25mi
3544 4th St Brooklyn, MD	4.0	2.5	1800	$1,940	$1.08	24d	1	0.48mi
3513 Horton Ave Brooklyn, MD	3.0	1.0	1020	$1,600	$1.57	18d	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	18d	1	0.58mi
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	24d	1	0.67mi
202 W Edgevale Rd Unit A Baltimore, MD	3.0	1.0	1824	$1,650	$0.90	5d	1	0.78mi
217 W Edgevale Rd Brooklyn, MD	3.0	1.5	992	$1,800	$1.81	24d	1	0.83mi
303 Arden Rd W Brooklyn, MD	3.0	2.0	1388	$2,500	$1.80	18d	1	0.86mi
732 Old Riverside Rd Brooklyn, MD	3.0	2.5	1570	$1,900	$1.21	44d	1	1.01mi

Listing history 33 events

1. 2026-06-18
   days on market $125,000 Active 103 DOM
2. 2026-06-17
   days on market $125,000 Active 102 DOM
3. 2026-06-16
   days on market $125,000 Active 101 DOM
4. 2026-06-15
   days on market $125,000 Active 100 DOM
5. 2026-06-13
   days on market $125,000 Active 98 DOM
6. 2026-06-09
   days on market $125,000 Active 94 DOM
7. 2026-06-08
   days on market $125,000 Active 93 DOM
8. 2026-06-07
   days on market $125,000 Active 92 DOM
9. 2026-06-04
   days on market $125,000 Active 89 DOM
10. 2026-06-03
    days on market $125,000 Active 88 DOM
11. 2026-06-02
    days on market $125,000 Active 87 DOM
12. 2026-05-31
    days on market $125,000 Active 86 DOM
13. 2026-05-08
    price $125,000 494-char remark

    Show marketing remark (494 chars)

    Investor Opportunity! Income-producing duplex delivering $24,000/year gross rent from day one. Each unit offers 2 bedrooms and 2 full bathrooms and is tenant-occupied at $1,000/month. Strong cash-flow potential with value-add upside as rents are below market. Ideal for investors seeking a stabilized asset with immediate returns and long-term appreciation potential. Convenient location near commuter routes, shopping, and local amenities. BACK ON MARKET - BUYER BACKED OUT - RARE OPPORTUNITY!

14. 2026-03-11
    price $150,000 494-char remark

    Show marketing remark (494 chars)

    Investor Opportunity! Income-producing duplex delivering $24,000/year gross rent from day one. Each unit offers 2 bedrooms and 2 full bathrooms and is tenant-occupied at $1,000/month. Strong cash-flow potential with value-add upside as rents are below market. Ideal for investors seeking a stabilized asset with immediate returns and long-term appreciation potential. Convenient location near commuter routes, shopping, and local amenities. BACK ON MARKET - BUYER BACKED OUT - RARE OPPORTUNITY!

15. 2026-03-11
    status Active 494-char remark

    Show marketing remark (494 chars)

    Investor Opportunity! Income-producing duplex delivering $24,000/year gross rent from day one. Each unit offers 2 bedrooms and 2 full bathrooms and is tenant-occupied at $1,000/month. Strong cash-flow potential with value-add upside as rents are below market. Ideal for investors seeking a stabilized asset with immediate returns and long-term appreciation potential. Convenient location near commuter routes, shopping, and local amenities. BACK ON MARKET - BUYER BACKED OUT - RARE OPPORTUNITY!

16. 2026-03-09
    price $156,000 494-char remark

    Show marketing remark (494 chars)

    Investor Opportunity! Income-producing duplex delivering $24,000/year gross rent from day one. Each unit offers 2 bedrooms and 2 full bathrooms and is tenant-occupied at $1,000/month. Strong cash-flow potential with value-add upside as rents are below market. Ideal for investors seeking a stabilized asset with immediate returns and long-term appreciation potential. Convenient location near commuter routes, shopping, and local amenities. BACK ON MARKET - BUYER BACKED OUT - RARE OPPORTUNITY!

17. 2026-03-09
    historical Active Under Contract 494-char remark

    Show marketing remark (494 chars)

    Investor Opportunity! Income-producing duplex delivering $24,000/year gross rent from day one. Each unit offers 2 bedrooms and 2 full bathrooms and is tenant-occupied at $1,000/month. Strong cash-flow potential with value-add upside as rents are below market. Ideal for investors seeking a stabilized asset with immediate returns and long-term appreciation potential. Convenient location near commuter routes, shopping, and local amenities. BACK ON MARKET - BUYER BACKED OUT - RARE OPPORTUNITY!

18. 2026-03-05
    listed $150,000 Active 494-char remark

    Show marketing remark (494 chars)

    Investor Opportunity! Income-producing duplex delivering $24,000/year gross rent from day one. Each unit offers 2 bedrooms and 2 full bathrooms and is tenant-occupied at $1,000/month. Strong cash-flow potential with value-add upside as rents are below market. Ideal for investors seeking a stabilized asset with immediate returns and long-term appreciation potential. Convenient location near commuter routes, shopping, and local amenities. BACK ON MARKET - BUYER BACKED OUT - RARE OPPORTUNITY!

19. 2026-02-20
    historical $150,000 494-char remark

    Show marketing remark (494 chars)

    Investor Opportunity! Income-producing duplex delivering $24,000/year gross rent from day one. Each unit offers 2 bedrooms and 2 full bathrooms and is tenant-occupied at $1,000/month. Strong cash-flow potential with value-add upside as rents are below market. Ideal for investors seeking a stabilized asset with immediate returns and long-term appreciation potential. Convenient location near commuter routes, shopping, and local amenities. BACK ON MARKET - BUYER BACKED OUT - RARE OPPORTUNITY!

20. 2026-02-18
    historical
21. 2026-02-04
    price $140,000
22. 2025-12-12
    listed $150,000 Active
23. 2022-12-05
    soldstatus $125,000
24. 2020-04-24
    soldstatus $25,000 Closed
25. 2020-04-06
    status Pending
26. 2020-03-25
    listed $19,000 Active
27. 2008-05-07
    soldstatus $72,000
28. 2008-05-05
    historical
29. 2008-04-30
    soldstatus $72,000 Sold
30. 2008-04-25
    status
31. 2008-03-27
    historical
32. 2008-02-20
    price $69,000
33. 2007-10-19
    listed $74,900

ⓘ 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: $1,209 · $101/mo
• Projected year-2 tax: $1,286 · $107/mo
• Expected delta: +$77/yr (+$6/mo · 6.4%)

ⓘ 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: $24,528
• − Mortgage interest: −$7,002
• − Property taxes: −$1,209
• − Insurance: −$625
• − Repairs & maintenance: −$1,962
• − Management: −$1,962
• − Depreciation: −$3,636
• Taxable income: $8,131
• Est. tax owed @ 24.0%: −$1,951
• After-tax cash flow: $7,725/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

+66.9% since first listed

21 events — show timeline

• 2026-05-08 Price Changed $125,000 BRIGHT MLS
• 2026-03-11 Price Changed $150,000 BRIGHT MLS
• 2026-03-11 Relisted — BRIGHT MLS
• 2026-03-09 Price Changed $156,000 BRIGHT MLS
• 2026-03-09 Contingent — BRIGHT MLS
• 2026-03-05 Listed $150,000 BRIGHT MLS
• 2026-02-20 Coming Soon $150,000 BRIGHT MLS
• 2026-02-18 Listing Removed — BRIGHT MLS
• 2026-02-04 Price Changed $140,000 BRIGHT MLS
• 2025-12-12 Listed $150,000 BRIGHT MLS
• 2022-12-05 Sold (Public Records) $125,000 Public Records
• 2020-04-24 Sold (MLS) $25,000 BRIGHT MLS
• 2020-04-06 Pending — BRIGHT MLS
• 2020-03-25 Listed $19,000 BRIGHT MLS
• 2008-05-07 Sold (Public Records) $72,000 Public Records
• 2008-05-05 Delisted — MRIS
• 2008-04-30 Sold (MLS) $72,000 MRIS
• 2008-04-25 Relisted — MRIS
• 2008-03-27 Delisted — MRIS
• 2008-02-20 Price Changed $69,000 MRIS
• 2007-10-19 Listed $74,900 MRIS

Property tax history

-1.1%/yr

Latest (2025): $1,209 · +7.8% YoY. Source: county tax records.