525 Sheridan Ave · Baltimore, MD 21212

$40,000

3 bd · 1.5 ba · 1,080 sqft · Townhouse public records · 4 Days on market

Built 1928 1,260 sqft lot

---

Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 BEDROOM BRICK ROWHOUSE WITH FULL BASEMENT. sold as is.

Key facts

• Nearby attractions
• Porchfront rowhome
• York road retail

Tags

• PORCHFRONT ROWHOME
• MID-GOVANS/WAVERLY AREA
• WOODBOURNE-MCCABE NEIGHBORHOOD
• NEARBY ATTRACTIONS
• BELVEDERE SQUARE MARKET
• YORK ROAD RETAIL

Property features AI

Finance

• Financial info: Ownership: Ground rent; Annual ground rent noted

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Interior townhouse/rowhouse; Brick construction
• Construction: Brick construction; Other foundation; Other above- and below-grade structures; Year built estimated
• Exterior features: Ground rent exists (approximately $90); Tidal water: No; Directions by GPS

Interior

• Bedrooms: Three bedrooms on the first upper level
• Bathrooms: One full bathroom
• Heating & cooling: Radiator heating (natural gas); Central air conditioning (electric); Natural gas hot water
• Interior features: Partially finished basement; Living area per assessor

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $40k.

Deal economics

• At list price, monthly cash flow is $992 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Cap rate 36.1% 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 (+4.7%/yr); 135 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $277 of loan paydown is wiped out by about $1k 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 + 4.7% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 18 sale attempts since 28y 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.

Risks & watch-outs

• Watch-outs: property tax is 4.8% of price; built in 1928 — 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 $40,000

Questions for the listing agent

1. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 4.36% ✓
• Cap rate: 36.06%
• Cash-on-cash: 106.32%
• DSCR: 5.73
• GRM: 1.9

CMA / ARV

• ARV (on-the-fly): $205,200
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
812 Mccabe Ave	0.29mi	3/1.0	1,080 (0%)	2mo	$150,000	$139	83
355 Homeland Southway Unit 2B	0.28mi	2/1.5 (-1)	1,043 (-3%)	0mo	$205,000	$197	76
380 Homeland Southway Unit 3A	0.30mi	2/2.0 (-1)	1,066 (-1%)	3mo	$225,000	$211	74
365 Homeland Southway Unit 2B	0.33mi	2/2.0 (-1)	1,061 (-2%)	4mo	$240,000	$226	71
341 Homeland Southway Unit 2A	0.36mi	2/2.0 (-1)	1,066 (-1%)	5mo	$200,000	$188	70
327 Homeland Southway Unit 3B	0.39mi	2/2.0 (-1)	1,055 (-2%)	5mo	$199,990	$190	67
5627 Ready Ave	0.28mi	3/2.0	1,186 (+10%)	3mo	$95,400	$80	66
1018 Cameron Rd	0.51mi	2/2.0 (-1)	1,032 (-4%)	1mo	$169,000	$164	61
4811 Kimberleigh Rd	0.58mi	3/1.5	1,024 (-5%)	4mo	$240,000	$234	60
800 Radnor Ave	0.53mi	3/1.5	1,224 (+13%)	2mo	$99,900	$82	51
634 Willow Ave	0.73mi	2/1.0 (-1)	986 (-9%)	4mo	$90,000	$91	41
1229 Winston Ave	0.70mi	4/1.5 (+1)	1,216 (+13%)	6mo	$240,000	$197	36

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 · 4.65% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.34×
• Total profit: $59,757
• Equity at exit: $5,964

10-year hold

• IRR: —
• Equity multiple: 14.06×
• Total profit: $146,285
• Equity at exit: $3,458

Cash invested: $11,200 (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 21212

• Rents YoY: 4.7%
• Active inventory: 135
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,744 high
• Mortgage (P&I): −$210
• Tax from tax record: −$159 /mo · $1,905/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $992

Break-even live

Break-even rent $488

Max offer price $40,000

Occupancy floor 38%

Sensitivity live

Price	-10% $1,129	-5% $1,115	+0% $992	+5% $981	+10% $970
Rent	-10% $855	-5% $923	+0% $992	+5% $1,061	+10% $1,130
Rate	-1.0pp $1,012	-0.5pp $1,003	base $992	+0.5pp $982	+1.0pp $971

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5307 York Rd Baltimore, MD	2.0	1.0	1120	$1,200	$1.07	45d	1	0.04mi
5200 Ready Ave Baltimore, MD	3.0	1.5	1116	$1,950	$1.75	5d	1	0.08mi
711 1/2 McCabe Ave Baltimore, MD	4.0	3.0	1204	$2,350	$1.95	5d	1	0.18mi
543 Chateau Ave Baltimore, MD	3.0	2.0	1152	$1,900	$1.65	5d	1	0.25mi
416 Winston Ave Unit 426-01 Baltimore, MD	2.0	1.0	890	$1,250	$1.40	45d	1	0.30mi
416 Winston Ave Unit 426-08 Baltimore, MD	2.0	1.0	790	$1,050	$1.33	25d	1	0.30mi
818 Bradhurst Rd Baltimore, MD	2.0	1.0	1216	$1,350	$1.11	5d	1	0.43mi
818 Bradhurst Rd Baltimore, MD	2.0	1.0	1216	$1,250	$1.03	45d	1	0.43mi
5001 Midwood Ave Apt 2A Baltimore, MD	2.0	1.0	750	$1,265	$1.69	45d	1	0.49mi
1006 Cameron Rd Baltimore, MD	2.0	1.0	1032	$950	$0.92	45d	1	0.51mi
5618 Midwood Ave Unit 1 Baltimore, MD	2.0	1.0	800	$1,250	$1.56	25d	1	0.52mi
5622 Midwood Ave Baltimore, MD	3.0	2.0	1452	$2,300	$1.58	45d	1	0.52mi
5626 Midwood Ave Unit 2 Baltimore, MD	2.0	1.0	1452	$1,100	$0.76	25d	1	0.53mi
1221 Glenwood Ave Baltimore, MD	3.0	2.0	1390	$2,595	$1.87	45d	1	0.63mi
531 Willow Ave Unit Na Baltimore, MD	4.0	1.0	1300	$1,800	$1.38	21d	1	0.64mi
1090 Cameron Rd Baltimore, MD	2.0	1.0	832	$1,675	$2.01	5d	1	0.65mi
835 E Cold Spring Ln Baltimore, MD	2.0	1.5	997	$1,400	$1.40	25d	1	0.66mi
1224 Winston Ave Baltimore, MD	3.0	2.0	1248	$2,100	$1.68	19d	1	0.68mi
1275 Kitmore Rd Unit 1259K-T Baltimore, MD	2.0	1.0	811	$1,535	$1.89	5d	1	0.70mi
1275 Kitmore Rd Unit 1248B-A Baltimore, MD	2.0	1.0	812	$1,360	$1.67	5d	1	0.70mi
1275 Kitmore Rd Unit 1245K-T Baltimore, MD	3.0	1.0	935	$1,895	$2.03	5d	1	0.70mi
1275 Kitmore Rd Unit 1267K-T Baltimore, MD	2.0	1.0	827	$1,585	$1.92	45d	1	0.70mi
1275 Kitmore Rd Baltimore, MD	2.0	1.0	827	$1,525	$1.84	45d	1	0.70mi
1275 Kitmore Rd Unit 1276B-A Baltimore, MD	2.0	1.0	812	$1,360	$1.67	45d	1	0.70mi
1275 Kitmore Rd Unit 1221B-T Baltimore, MD	2.0	1.0	811	$1,560	$1.92	25d	1	0.70mi
1275 Kitmore Rd Unit 1263K-T Baltimore, MD	2.0	1.0	811	$1,485	$1.83	5d	1	0.70mi
1275 Kitmore Rd Unit 1215B-T Baltimore, MD	2.0	1.0	811	$1,435	$1.77	5d	1	0.70mi
1275 Kitmore Rd Unit 1260K-T Baltimore, MD	2.0	1.0	811	$1,410	$1.74	5d	1	0.70mi
1275 Kitmore Rd Unit 1262B-A Baltimore, MD	2.0	1.0	923	$1,320	$1.43	3d	1	0.70mi
4407 Old York Rd Baltimore, MD	3.0	1.5	1356	$1,574	$1.16	45d	1	0.71mi
4407 Old York Rd Baltimore, MD	3.0	1.5	1356	$1,574	$1.16	21d	1	0.71mi
917 Reverdy Rd Unit A Baltimore, MD	3.0	1.0	1200	$2,100	$1.75	45d	1	0.72mi
1260 Rossiter Ave Baltimore, MD	2.0	1.0	710	$1,250	$1.76	3d	37	0.74mi
720 Springfield Ave Baltimore, MD	3.0	1.0	1160	$2,000	$1.72	45d	1	0.88mi
815 Gilrubin Ct Baltimore, MD	2.0	1.0	900	$1,695	$1.88	45d	1	0.91mi
812 Nat Ct Apt 12 Baltimore, MD	2.0	1.0	900	$1,295	$1.44	45d	1	0.92mi
1020 Dartmouth Glen Way Baltimore, MD	3.0	2.5	1152	$2,250	$1.95	25d	1	0.92mi
1111 Gleneagle Rd Unit 2 Baltimore, MD	2.0	1.0	1452	$1,050	$0.72	45d	1	0.98mi
5307 Leith Rd Baltimore, MD	2.0	1.0	630	$1,350	$2.14	14d	1	0.98mi
1106 Gleneagle Rd Unit 2 Baltimore, MD	2.0	1.0	1100	$1,450	$1.32	45d	1	0.98mi

Listing history 3 events

1. 2026-06-21
   days on market $40,000 Active 4 DOM
2. 2026-06-17
   remarks 644-char remark
3. 2026-06-17
   listed $40,000 Active 1 DOM

ⓘ 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: $1,905 · $159/mo
• Projected year-2 tax: $1,905 · $159/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 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,924
• − Mortgage interest: −$2,241
• − Property taxes: −$1,905
• − Insurance: −$200
• − Repairs & maintenance: −$1,674
• − Management: −$1,674
• − Depreciation: −$1,164
• Taxable income: $12,067
• Est. tax owed @ 24.0%: −$2,896
• After-tax cash flow: $9,012/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): 33,974
• Household income: $96,685
• Rent vs Own: 31.2% rent · 68.8% own
• Severe rent burden: 769.0

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 0.64)
• Race & ethnicity: White 49% Black 35% Two or more races 9% Hispanic / Latino 7% Asian 4%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1%
• Common ancestry: Romanian 3% Italian 2% Slovak 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 87% English-only · Spanish 5% Other Indo-European 2% 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: ▼ -392.44%
• Current HPI: 267.4569
• Rent YoY: ▲ 4.65%
• 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

+8.1% since first listed

60 events — show timeline

• 2026-06-17 Listed $40,000 BRIGHT MLS
• 2023-11-04 Rental Removed $1,200 APPFOLIO
• 2023-09-21 Price Changed $1,200 APPFOLIO
• 2023-07-16 Listed for Rent $1,350 APPFOLIO
• 2020-03-26 Sold (Public Records) $75,000 Public Records
• 2019-04-05 Listing Removed — BRIGHT MLS
• 2019-04-04 Relisted — BRIGHT MLS
• 2019-03-23 Contingent — BRIGHT MLS
• 2019-02-26 Listed $79,900 BRIGHT MLS
• 2018-10-18 Sold (MLS) $31,000 BRIGHT MLS
• 2018-09-20 Pending — BRIGHT MLS
• 2018-09-09 Price Changed $36,000 BRIGHT MLS
• 2018-08-10 Price Changed $39,000 BRIGHT MLS
• 2018-08-02 Price Changed $42,000 BRIGHT MLS
• 2018-07-11 Price Changed $44,000 BRIGHT MLS
• 2018-06-23 Price Changed $49,000 BRIGHT MLS
• 2018-05-25 Price Changed $58,000 BRIGHT MLS
• 2018-05-09 Listed $68,000 BRIGHT MLS
• 2017-12-01 Sold (MLS) $19,500 BRIGHT MLS
• 2017-12-01 Sold (MLS) $19,500 MRIS
• 2017-10-17 Pending — MRIS
• 2017-10-12 Delisted — MRIS
• 2017-10-04 Listed $16,900 MRIS
• 2017-10-04 Delisted — MRIS
• 2017-09-20 Relisted — MRIS
• 2017-08-22 Pending — MRIS
• 2017-08-15 Price Changed — MRIS
• 2017-08-09 Relisted — MRIS
• 2017-05-04 Pending — MRIS
• 2017-04-18 Price Changed — MRIS
• 2017-03-21 Price Changed — MRIS
• 2017-02-21 Price Changed — MRIS
• 2017-01-19 Price Changed — MRIS
• 2016-12-28 Price Changed — MRIS
• 2016-11-28 Price Changed — MRIS
• 2016-11-23 Listed — MRIS
• 2016-11-23 Listed $16,900 BRIGHT MLS
• 2014-10-24 Delisted — MRIS
• 2014-10-24 Listing Removed — BRIGHT MLS
• 2013-04-24 Listed — MRIS
• 2013-04-24 Listed $44,900 BRIGHT MLS
• 2009-12-16 Delisted — MRIS
• 2009-12-16 Listing Removed — BRIGHT MLS
• 2009-12-03 Price Changed — MRIS
• 2009-11-25 Listed — MRIS
• 2009-11-25 Listed $60,000 BRIGHT MLS
• 2008-12-04 Delisted — MRIS
• 2008-06-05 Listed — MRIS
• 2005-07-11 Sold (Public Records) $60,000 Public Records
• 2005-06-08 Sold (MLS) $60,000 MRIS
• 2005-04-21 Delisted — MRIS
• 2005-03-29 Listed $59,900 MRIS
• 2003-03-13 Sold (MLS) $12,350 MRIS
• 2002-12-01 Delisted — MRIS
• 2002-11-28 Listed $14,000 MRIS
• 1999-05-26 Sold (Public Records) $57,900 Public Records
• 1998-09-11 Sold (MLS) $12,500 MRIS
• 1998-07-17 Delisted — MRIS
• 1998-06-29 Listed $16,900 MRIS
• 1989-10-24 Sold (Public Records) $37,000 Public Records

Property tax history

+1.6%/yr

Latest (2025): $1,905 · +5.3% YoY. Source: county tax records.