3408 E Fairmount Ave · Baltimore, MD 21224

$139,650

2 bd · 1.5 ba · 1,260 sqft · Townhouse public records · 79 Days on market

Built 1900 1,192 sqft lot Est $247k · 43% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• 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

Welcome to 3408 E Fairmount Ave! This charming 2-bedroom, 1.5-bath townhouse offers a comfortable and functional layout with space to spread out. The main level features a bright living room, a separate dining area, and a kitchen ready for your personal touch. Upstairs, you’ll find two spacious bedrooms—one with a private balcony and the other with a separate dressing room/closet—plus a full bathroom in the hallway. The finished lower level provides a versatile rec room area along with a convenient half bath, perfect for guests or additional living space. Enjoy the fenced-in rear yard, ideal for relaxing or entertaining. Schedule your showing today!

Key facts

• Fenced-in rear yard
• Private balcony
• Finished lower level

Tags

• PRIVATE BALCONY
• SEPARATE DRESSING ROOM
• FINISHED LOWER LEVEL
• FENCED-IN REAR YARD

Property features AI

Finance

• Other: Ownership interest: Ground Rent
• Financial info: Ground rent of $180 paid semi-annually

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Electric service
• Home design: Interior townhouse/rowhouse; Located in city limits
• Construction: Brick construction; Permanent foundation; Year built estimated
• Exterior features: Balcony; Deck(s); Patio(s); Above- and below-grade exterior structures

Interior

• Kitchen: Gas oven/range; Microwave; Refrigerator
• Bedrooms: Two bedrooms on the first upper level (Master bedroom and Bedroom 2)
• Flooring: Laminate flooring
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Forced air heating using natural gas; Central air conditioning (electric)
• Interior features: Ceiling fans; Dining area; Stall shower; Carpeted areas; Finished basement
• Laundry & utility: Washer; Dryer; Hot water heated by natural gas

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath townhouse listed at $140k.

Deal economics

• At list price, monthly cash flow is $614 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $131k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.6% 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); 391 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $966 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 + 1.3% rent growth), your $39k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 27y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $120k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $131,271 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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: 1.47% ✓
• Cap rate: 11.57%
• Cash-on-cash: 18.84%
• DSCR: 1.84
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $246,960
• 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	0.07mi	2/1.0	1,170 (-7%)	1mo	$75,000	$64	82
3420 Leverton Ave	0.13mi	2/2.0	1,340 (+6%)	1mo	$115,000	$86	80
280 S Robinson St	0.41mi	2/1.0	1,282 (+2%)	1mo	$294,000	$229	75
122 Ellwood Ave	0.26mi	3/1.5 (+1)	1,200 (-5%)	0mo	$235,000	$196	75
3135 Mcelderry St	0.34mi	3/2.0 (+1)	1,224 (-3%)	1mo	$234,000	$191	71
134 N Curley St	0.37mi	2/2.0	1,170 (-7%)	1mo	$270,000	$231	68
14 S Curley St	0.39mi	2/1.0	1,092 (-13%)	1mo	$269,000	$246	57
36 N Decker Ave	0.29mi	3/2.0 (+1)	1,430 (+14%)	0mo	$325,000	$227	57
145 N Milton Ave	0.69mi	2/2.0	1,353 (+7%)	1mo	$260,000	$192	53
629 N Kenwood Ave	0.58mi	2/1.5	1,100 (-13%)	1mo	$76,500	$70	51
220 N Luzerne Ave	0.65mi	3/1.0 (+1)	1,372 (+9%)	1mo	$120,000	$87	47
631 S Curley St	0.71mi	3/3.0 (+1)	1,384 (+10%)	1mo	$419,000	$303	39

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: 8.7%
• Equity multiple: 1.33×
• Total profit: $13,089
• Equity at exit: $20,822

10-year hold

• IRR: 16.4%
• Equity multiple: 2.24×
• Total profit: $48,342
• Equity at exit: $12,074

Cash invested: $39,102 (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: 391
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $2,056 high
• Mortgage (P&I): −$732
• Tax from tax record: −$220 /mo · $2,642/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$432
• Net cashflow: $614

Break-even live

Break-even rent $1,279

Max offer price $139,650

Occupancy floor 65%

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: $34,912
• Closing costs: $4,190
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3430 E Baltimore St Baltimore, MD	3.0	2.5	1316	$2,250	$1.71	23d	1	0.09mi
113 N Clinton St Baltimore, MD	2.0	1.0	1300	$1,995	$1.53	43d	1	0.10mi
3304 E Baltimore St Baltimore, MD	3.0	1.5	1514	$1,875	$1.24	43d	1	0.13mi
3436 Leverton Ave Baltimore, MD	3.0	3.5	1500	$2,350	$1.57	23d	1	0.15mi
3205 Esther Pl Baltimore, MD	2.0	2.0	960	$1,850	$1.93	23d	1	0.16mi
3502 E Lombard St Baltimore, MD	3.0	2.0	1522	$1,870	$1.23	43d	1	0.18mi
17 N East Ave Baltimore, MD	2.0	2.0	1326	$2,550	$1.92	23d	1	0.18mi
29 N Ellwood Ave Baltimore, MD	3.0	1.5	1100	$2,395	$2.18	23d	1	0.23mi
106 S Bouldin St Baltimore, MD	2.0	3.0	1134	$2,100	$1.85	20d	1	0.24mi
203 N Ellwood Ave Unit Main Baltimore, MD	2.0	2.0	880	$2,200	$2.50	23d	1	0.24mi
404 N Robinson St Baltimore, MD	3.0	3.0	1320	$2,200	$1.67	23d	1	0.27mi
404 N Robinson St Baltimore, MD	3.0	3.0	1320	$2,100	$1.59	16d	1	0.27mi
113 N Decker Ave Baltimore, MD	3.0	3.5	1800	$2,850	$1.58	23d	1	0.27mi
3710 E Pratt St Baltimore, MD	2.0	3.5	1230	$1,900	$1.54	23d	1	0.28mi
115 S Eaton St Baltimore, MD	3.0	2.5	1393	$1,800	$1.29	16d	1	0.28mi
127 S Robinson St Baltimore, MD	2.0	1.5	1400	$2,000	$1.43	43d	1	0.29mi
3304 McElderry St Baltimore, MD	3.0	2.0	1413	$1,900	$1.34	43d	1	0.32mi
235 S Highland Ave Baltimore, MD	2.0	1.5	1222	$2,000	$1.64	23d	1	0.33mi
249 S East Ave Baltimore, MD	2.0	2.0	1680	$2,250	$1.34	23d	1	0.36mi
150 N Curley St Baltimore, MD	2.0	2.5	1266	$1,850	$1.46	17d	1	0.36mi
520 N Decker Ave Baltimore, MD	2.0	1.0	1000	$1,650	$1.65	43d	1	0.38mi
34 N Linwood Ave Baltimore, MD	2.0	1.5	1288	$2,400	$1.86	23d	1	0.40mi
102 S Curley St Baltimore, MD	2.0	1.5	1200	$1,800	$1.50	4d	1	0.41mi
2903 Jefferson St Baltimore, MD	3.0	3.0	1609	$1,850	$1.15	43d	1	0.42mi
11 N Streeper St Baltimore, MD	3.0	3.5	1800	$2,600	$1.44	43d	1	0.43mi
2815 Orleans St Baltimore, MD	2.0	1.0	1204	$1,600	$1.33	1d	1	0.44mi
10 N Streeper St Baltimore, MD	3.0	2.5	1440	$2,500	$1.74	23d	1	0.44mi
400 S Highland Ave Unit 402 Baltimore, MD	2.0	1.0	900	$1,700	$1.89	43d	1	0.45mi
3030 E Monument St Baltimore, MD	1.0	1.0	1600	$1,000	$0.62	14d	1	0.46mi
2800 Orleans St Baltimore, MD	3.0	1.0	1404	$1,600	$1.14	17d	1	0.47mi
2800 Orleans St Baltimore, MD	3.0	1.0	1404	$1,600	$1.14	14d	1	0.47mi
2934 E Monument St Baltimore, MD	2.0	1.0	1200	$1,499	$1.25	43d	1	0.51mi
415 N Belnord Ave Baltimore, MD	2.0	1.0	1008	$1,300	$1.29	23d	1	0.53mi
3905 Bank St Baltimore, MD	4.0	1.0–3.0	909	$2,350	$2.58	2d	20	0.54mi
718 N Curley St Baltimore, MD	3.0	3.0	1500	$2,000	$1.33	4d	1	0.55mi
724 N Curley St Baltimore, MD	3.0	3.0	1500	$2,200	$1.47	4d	1	0.56mi
531 N Belnord Ave Baltimore, MD	2.0	1.5	1100	$1,700	$1.55	23d	1	0.57mi
2619 E Fayette St Baltimore, MD	3.0	2.0	1600	$1,900	$1.19	43d	1	0.57mi
127 N Glover St Baltimore, MD	2.0	1.5	1110	$2,100	$1.89	2d	1	0.58mi
809 N Curley St Baltimore, MD	3.0	1.0	1746	$1,400	$0.80	21d	1	0.59mi

Listing history 22 events

1. 2026-06-02
   status $139,650 Pending 79 DOM
2. 2026-06-01
   days on market $139,650 Active 79 DOM
3. 2026-05-31
   days on market $139,650 Active 78 DOM
4. 2026-05-18
   status Active
5. 2026-04-23
   status Pending
6. 2026-03-13
   price $139,650
7. 2026-02-17
   listed $149,950 Active
8. 2024-12-17
   historical $1,500
9. 2024-12-11
   listed $1,500
10. 2007-11-09
    historical
11. 2007-10-02
    listed
12. 2007-08-31
    historical
13. 2007-05-25
    listed
14. 2006-01-17
    soldstatus $120,500
15. 2005-12-15
    soldstatus $120,500
16. 2005-11-07
    historical
17. 2005-10-24
    listed $119,000
18. 2000-08-18
    soldstatus $48,900
19. 2000-08-18
    soldstatus $48,900
20. 2000-08-15
    soldstatus $48,900
21. 2000-07-07
    historical
22. 1999-11-24
    listed $49,900

ⓘ 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: $2,642 · $220/mo
• Projected year-2 tax: $2,642 · $220/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: $24,678
• − Mortgage interest: −$7,823
• − Property taxes: −$2,642
• − Insurance: −$698
• − Repairs & maintenance: −$1,974
• − Management: −$1,974
• − Depreciation: −$4,063
• Taxable income: $5,503
• Est. tax owed @ 24.0%: −$1,321
• After-tax cash flow: $6,046/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

+179.9% since first listed

19 events — show timeline

• 2026-05-18 Relisted — BRIGHT MLS
• 2026-04-23 Pending — BRIGHT MLS
• 2026-03-13 Price Changed $139,650 BRIGHT MLS
• 2026-02-17 Listed $149,950 BRIGHT MLS
• 2024-12-17 Rental Removed $1,500 RENTALBEAST
• 2024-12-11 Listed for Rent $1,500 RENTALBEAST
• 2007-11-09 Delisted — MRIS
• 2007-10-02 Listed — MRIS
• 2007-08-31 Delisted — MRIS
• 2007-05-25 Listed — MRIS
• 2006-01-17 Sold (Public Records) $120,500 Public Records
• 2005-12-15 Sold (MLS) $120,500 MRIS
• 2005-11-07 Delisted — MRIS
• 2005-10-24 Listed $119,000 MRIS
• 2000-08-18 Sold (Public Records) $48,900 Public Records
• 2000-08-18 Sold (Public Records) $48,900 Public Records
• 2000-08-15 Sold (MLS) $48,900 MRIS
• 2000-07-07 Delisted — MRIS
• 1999-11-24 Listed $49,900 MRIS

Property tax history

+1.0%/yr

Latest (2025): $2,642 · +6.5% YoY. Source: county tax records.