4521 Belvieu Ave · Baltimore, MD 21215

$125,000

3 bd · 1.0 ba · 1,350 sqft · Townhouse public records · 18 Days on market

Built 1957 4,495 sqft lot $93/sqft · 37% below area Est $197k · 37% 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 +29.1/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• Livability +3.8/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome Home to 4521 Belvieu Avenue, Baltimore, MD 21215 PRICE IMPROVEMENT TO $125,000! Opportunity is knocking! This charming twin semi-detached home offers the perfect canvas for buyers ready to put their personal touch on a solid property with great bones. Featuring 3 bedrooms and 1.5 bathrooms, this residence is move-in ready while still offering wonderful potential for updates and personalization. Relax and unwind on the inviting covered front porch, a wonderful spot to enjoy your morning coffee or evening breeze. Out back, you'll find a generous sized fenced in backyard ideal for entertaining, gardening, or simply enjoying the outdoors. The home includes a private driveway, a rare and

Key facts

• Covered front porch
• Private driveway
• Fenced in backyard

Tags

• COVERED FRONT PORCH
• FENCED IN BACKYARD
• PRIVATE DRIVEWAY

Property features AI

Finance

• Other: Total below-grade area: 540; Above-grade finished area: 1,080; Below-grade finished area: 270; Below-grade unfinished area: 270; Year built source: Assessor; Living area source: Assessor
• Financial info: Ground rent payment: $108 semi-annually; Ownership interest: Ground Rent

Exterior

• Parking: Off-street parking via driveway
• Utilities: Public water; Public sewer; Natural gas
• Home design: Semi-detached; Located in city limits (Baltimore City)
• Construction: Brick construction; Slab foundation; Above-grade and below-grade structures; Basement present (other type)
• Exterior features: Porch(es); Fully fenced

Interior

• Kitchen: Refrigerator; Gas oven/range
• Bedrooms: Three bedrooms on the upper level
• Flooring: Wood floors; Carpet
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Forced air heating; Natural gas hot water
• Interior features: Dining area; Wood floors; Carpet
• Laundry & utility: Washer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $125k.

Deal economics

• At list price, monthly cash flow is $431 ($5k/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: $123k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.4% 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 (+2.4%/yr); 351 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• This rent runs 40% of the median local income ($52k/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 $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 + 2.4% rent growth), your $35k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 28y ago; this cycle's ask has dropped $25k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; list at $125k implies a 109% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 23% 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 $123,125 (1.5% below list)

Questions for the listing agent

1. Built in 1957 — 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: 1.38% ✓
• Cap rate: 10.43%
• Cash-on-cash: 14.77%
• DSCR: 1.66
• GRM: 6.0

CMA / ARV

• ARV (median comp): $197,018
• List price: $125,000
• Delta: -36.55%
• 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
5561 Kennison Ave	0.29mi	3/1.5	1,395 (+3%)	1mo	$142,000	$102	78
5534 Belle Ave	0.26mi	3/1.5	1,280 (-5%)	3mo	$148,200	$116	75
5527 Belle Ave	0.26mi	4/2.0 (+1)	1,440 (+7%)	6mo	$125,000	$87	63
5528 Belle Ave	0.24mi	4/2.0 (+1)	1,480 (+10%)	2mo	$268,000	$181	62
4115 Newton Ave	0.64mi	3/1.0	1,344 (-0%)	11mo	$110,000	$82	60
4041 W Cold Spring Ln	0.65mi	3/2.5	1,310 (-3%)	1mo	$239,900	$183	58
4116 Belle Ave	0.60mi	3/1.5	1,280 (-5%)	7mo	$219,000	$171	55
3811 Parkview	0.42mi	2/1.0 (-1)	1,200 (-11%)	5mo	$150,000	$125	53
4311 Chatham Rd	0.67mi	4/1.5 (+1)	1,404 (+4%)	6mo	$240,000	$171	50
4105 Newbern Ave	0.65mi	3/2.0	1,280 (-5%)	10mo	$234,900	$184	49
5444 Fairlawn Ave	0.59mi	3/1.5	1,178 (-13%)	7mo	$130,000	$110	43
3958 Oakford Ave	0.70mi	4/2.5 (+1)	1,280 (-5%)	10mo	$249,000	$195	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 · 2.41% rent growth · sell at horizon

5-year hold

• IRR: 4.6%
• Equity multiple: 1.18×
• Total profit: $6,225
• Equity at exit: $18,638

10-year hold

• IRR: 13.5%
• Equity multiple: 2.05×
• Total profit: $36,890
• 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 21215

• Rents YoY: 2.4%
• Active inventory: 351
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,727 high
• Mortgage (P&I): −$656
• Tax from tax record: −$226 /mo · $2,708/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $431

Break-even live

Break-even rent $1,181

Max offer price $125,000

Occupancy floor 70%

Sensitivity live

Price	-10% $501	-5% $466	+0% $431	+5% $395	+10% $360
Rent	-10% $294	-5% $362	+0% $431	+5% $499	+10% $567
Rate	-1.0pp $494	-0.5pp $462	base $431	+0.5pp $398	+1.0pp $365

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 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3727 Milford Ave Gwynn Oak, MD	3.0	1.0	900	$1,450	$1.61	44d	1	0.25mi
3807 Bowers Ave Gwynn Oak, MD	3.0	1.5	1152	$2,200	$1.91	44d	1	0.37mi
3601 Howard Park Ave Unit 2 Baltimore, MD	3.0	1.0	1000	$1,650	$1.65	44d	1	0.43mi
3617 Mohawk Ave Baltimore, MD	2.0	1.0	1000	$1,595	$1.59	44d	1	0.56mi
3615 Mohawk Ave Gwynn Oak, MD	2.0	1.0	1000	$1,610	$1.61	44d	1	0.56mi
4010 Fernhill Ave Unit 2 Baltimore, MD	2.0	1.0	1100	$1,500	$1.36	44d	1	0.57mi
3535 Flannery Ln Gwynn Oak, MD	3.0	1.5	1536	$2,000	$1.30	44d	1	0.84mi
3912 Mortimer Ave Baltimore, MD	3.0	2.0	1204	$2,723	$2.26	44d	1	0.90mi
5343 Nelson Ave Baltimore, MD	2.0	1.0	1000	$1,215	$1.22	24d	1	0.90mi
3915 Liberty Heights Ave Gwynn Oak, MD	1.0–2.0	1.0–2.0	680	$1,345	$1.98	13d	5	1.01mi
3784 Columbus Dr Baltimore, MD	4.0	2.0	1250	$2,200	$1.76	24d	1	1.02mi
5000 Litchfield Ave #1 Baltimore, MD	2.0	1.0	1100	$1,100	$1.00	44d	1	1.05mi
5533 Gwynn Oak Ave Fl 1 Gwynn Oak, MD	2.0	1.0	1080	$1,600	$1.48	44d	1	1.08mi
6226 Robin Hill Rd Gwynn Oak, MD	3.0	1.5	1140	$2,850	$2.50	17d	1	1.12mi
3735 Manchester Ave Baltimore, MD	2.0	1.0	1000	$1,350	$1.35	5d	1	1.13mi
4828 Beaufort Ave Baltimore, MD	2.0	2.5	1200	$1,850	$1.54	24d	1	1.19mi
4309 Norfolk Ave Unit 1st Floor Baltimore, MD	2.0	1.0	1470	$1,500	$1.02	12d	1	1.20mi
4998 W Forest Park Ave Baltimore, MD	3.0	1.0–2.0	790	$1,875	$2.37	15d	15	1.33mi
5340 Maple Ave Baltimore, MD	2.0	1.0	1200	$1,950	$1.62	44d	1	1.34mi
6609 Eberle Dr Baltimore, MD	1.0–3.0	1.0–2.0	1011	$1,787	$1.77	2d	25	1.34mi
5301 Maple Ave Baltimore, MD	3.0	1.0	960	$1,700	$1.77	44d	1	1.36mi
3508 Grantley Rd Baltimore, MD	2.0	1.0	1250	$1,350	$1.08	24d	1	1.36mi
4738 Wakefield Rd Baltimore, MD	2.0	1.0	884	$1,200	$1.36	24d	1	1.37mi
3638 Fords Ln Baltimore, MD	2.0	2.0	1001	$1,795	$1.79	44d	1	1.41mi
3809 Clarks Ln Unit 301 Baltimore, MD	2.0	2.0	1057	$1,600	$1.51	24d	1	1.45mi
3705 Midheights Rd Baltimore, MD	3.0	1.5	1024	$1,900	$1.86	24d	1	1.45mi

Listing history 6 events

1. 2026-05-18
   price $125,000 1287-char remark
2. 2026-05-09
   listed $149,900 Active 1287-char remark
3. 1998-11-18
   soldstatus $59,900
4. 1998-09-17
   soldstatus $59,900
5. 1998-08-03
   historical
6. 1998-05-13
   listed $59,900

ⓘ 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: $2,708 · $226/mo
• Projected year-2 tax: $2,708 · $226/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 7/10 Severe 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 23% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,718
• − Mortgage interest: −$7,002
• − Property taxes: −$2,708
• − Insurance: −$625
• − Repairs & maintenance: −$1,657
• − Management: −$1,657
• − Depreciation: −$3,636
• Taxable income: $3,432
• Est. tax owed @ 24.0%: −$824
• After-tax cash flow: $4,345/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): 52,229
• Household income: $51,587
• Rent vs Own: 45.2% rent · 54.8% own
• Severe rent burden: 3644.0

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: Predominantly Black (73%)
• Race & ethnicity: Black 73% White 17% Hispanic / Latino 5% Two or more races 4% Asian 1%
• Common ancestry: Scotch-Irish 2% Romanian 2% Italian 1%
• Foreign-born: 9% · Canada, South Korea
• Languages at home: 91% English-only · Spanish 4% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -318.58%
• Current HPI: 291.4926
• Rent YoY: ▲ 2.41%
• 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

+108.7% since first listed

7 events — show timeline

• 2026-05-27 Pending — BRIGHT MLS
• 2026-05-18 Price Changed $125,000 BRIGHT MLS
• 2026-05-09 Listed $149,900 BRIGHT MLS
• 1998-11-18 Sold (Public Records) $59,900 Public Records
• 1998-09-17 Sold (MLS) $59,900 MRIS
• 1998-08-03 Delisted — MRIS
• 1998-05-13 Listed $59,900 MRIS

Property tax history

+1.6%/yr

Latest (2025): $2,708 · +2.2% YoY. Source: county tax records.