518 Sheridan Ave · Baltimore, MD 21212

$154,500

3 bd · 1.0 ba · 900 sqft · Townhouse public records · 220 Days on market

Built 1970 900 sqft lot $172/sqft · 13% below area Est $178k · 13% under

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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 +21.2/30.0
• ARV discount +13.4/15.0
• DSCR +6.7/10.0
• 1% rule +5.3/10.0
• 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

Nestled in the charming Winston Govans neighborhood, this exquisite AirLite townhouse offers a perfect blend of comfort and sophistication. With three spacious bedrooms and a beautifully appointed full bathroom, this home is designed for both relaxation and entertaining. The classic brick exterior exudes timeless elegance, while the inviting interior beckons you to unwind. Step inside to discover a thoughtfully laid-out floor plan that maximizes space and natural light. The full basement provides endless possibilities, whether you envision a cozy family room, a home gym, or a creative studio. The potential for customization is limitless, allowing you to tailor the space to your unique lifestyle. Enjoy the convenience of on-street parking, making it easy for guests to visit. The surrounding community is rich with amenities, offering a vibrant lifestyle just moments from your doorstep. Explore local parks, boutique shops, and delightful dining options that make this neighborhood truly special. This property is not just a house; it's a place to create lasting memories. Experience the warmth of home in a setting that combines modern living with classic charm. Don't miss the opportunity to make this enchanting townhouse your own and embrace the exclusive lifestyle it offers.

Key facts

• On-street parking
• Boutique shops
• Full basement

Tags

• WINSTON GOVANS NEIGHBORHOOD
• CLASSIC BRICK EXTERIOR
• FULL BASEMENT
• ON-STREET PARKING
• LOCAL PARKS
• BOUTIQUE SHOPS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $154k.

Deal economics

• At list price, monthly cash flow is $222 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $154k).
• Recommended offer: $136k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% 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 (+4.7%/yr); 133 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); 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 220 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 26y 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 $42k; list at $154k implies a 268% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $135,960 (12.0% below list)

Questions for the listing agent

1. It's been on market 220 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — 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: 1.03% ✓
• Cap rate: 8.02%
• Cash-on-cash: 6.17%
• DSCR: 1.27
• GRM: 8.1

CMA / ARV

• ARV (median comp): $177,978
• List price: $154,500
• Delta: -13.19%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
728 Richwood Ave	0.58mi	2/1.0 (-1)	840 (-7%)	2mo	$118,900	$142	55
4709 Midwood Ave	0.67mi	3/1.0	864 (-4%)	10mo	$75,000	$87	54
815 E Cold Spring Ln	0.69mi	3/2.0	840 (-7%)	2mo	$197,000	$235	51
5533 Midwood Ave	0.48mi	3/1.0	1,032 (+15%)	8mo	$74,000	$72	47
4811 Kimberleigh Rd	0.60mi	3/1.5	1,024 (+14%)	4mo	$240,000	$234	43
4713 Midwood Ave	0.66mi	2/1.0 (-1)	864 (-4%)	18mo	$140,000	$162	43
1018 Cameron Rd	0.52mi	2/2.0 (-1)	1,032 (+15%)	1mo	$169,000	$164	42
634 Willow Ave	0.75mi	2/1.0 (-1)	986 (+10%)	4mo	$90,000	$91	40
1008 Tunbridge Rd	0.48mi	2/1.0 (-1)	1,032 (+15%)	16mo	$120,000	$116	35
4703 Midwood Ave	0.68mi	2/2.0 (-1)	864 (-4%)	24mo	$165,000	$191	33
1039 Cameron Rd	0.57mi	2/1.0 (-1)	1,032 (+15%)	13mo	$137,500	$133	33

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: -5.0%
• Equity multiple: 0.81×
• Total profit: $-8,180
• Equity at exit: $23,036

10-year hold

• IRR: 6.5%
• Equity multiple: 1.52×
• Total profit: $22,541
• Equity at exit: $13,358

Cash invested: $43,260 (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: 133
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,593 high
• Mortgage (P&I): −$810
• Tax from tax record: −$161 /mo · $1,937/yr
• Insurance: −$64
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $222

Break-even live

Break-even rent $1,311

Max offer price $154,500

Occupancy floor 81%

Sensitivity live

Price	-10% $310	-5% $266	+0% $222	+5% $179	+10% $135
Rent	-10% $97	-5% $159	+0% $222	+5% $285	+10% $348
Rate	-1.0pp $300	-0.5pp $262	base $222	+0.5pp $182	+1.0pp $142

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: $38,625
• Closing costs: $4,635
• 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	44d	1	0.06mi
5200 Ready Ave Baltimore, MD	3.0	1.5	1116	$1,950	$1.75	4d	1	0.14mi
416 Winston Ave Unit 426-08 Baltimore, MD	2.0	1.0	790	$1,050	$1.33	24d	1	0.36mi
416 Winston Ave Unit 426-01 Baltimore, MD	2.0	1.0	890	$1,250	$1.40	44d	1	0.36mi
5543 Lothian Rd Baltimore, MD	2.0	1.0	507	$1,122	$2.21	44d	1	0.44mi
5618 Midwood Ave Unit 1 Baltimore, MD	2.0	1.0	800	$1,250	$1.56	24d	1	0.49mi
1006 Cameron Rd Baltimore, MD	2.0	1.0	1032	$950	$0.92	44d	1	0.50mi
5001 Midwood Ave Apt 2A Baltimore, MD	2.0	1.0	750	$1,265	$1.69	44d	1	0.54mi
1090 Cameron Rd Baltimore, MD	2.0	1.0	832	$1,675	$2.01	4d	1	0.63mi
835 E Cold Spring Ln Baltimore, MD	2.0	1.5	997	$1,400	$1.40	24d	1	0.72mi
1275 Kitmore Rd Unit 1276B-A Baltimore, MD	2.0	1.0	812	$1,360	$1.67	44d	1	0.73mi
1275 Kitmore Rd Unit 1248B-A Baltimore, MD	2.0	1.0	812	$1,360	$1.67	5d	1	0.73mi
1275 Kitmore Rd Unit 1267K-T Baltimore, MD	2.0	1.0	827	$1,585	$1.92	44d	1	0.73mi
1275 Kitmore Rd Baltimore, MD	2.0	1.0	827	$1,525	$1.84	44d	1	0.73mi
1275 Kitmore Rd Unit 1221B-T Baltimore, MD	2.0	1.0	811	$1,560	$1.92	24d	1	0.73mi
1275 Kitmore Rd Unit 1259K-T Baltimore, MD	2.0	1.0	811	$1,535	$1.89	5d	1	0.73mi
1275 Kitmore Rd Unit 1263K-T Baltimore, MD	2.0	1.0	811	$1,485	$1.83	5d	1	0.73mi
1275 Kitmore Rd Unit 1215B-T Baltimore, MD	2.0	1.0	811	$1,435	$1.77	5d	1	0.73mi
1275 Kitmore Rd Unit 1260K-T Baltimore, MD	2.0	1.0	811	$1,410	$1.74	5d	1	0.73mi
1275 Kitmore Rd Unit 1262B-A Baltimore, MD	2.0	1.0	923	$1,320	$1.43	2d	1	0.73mi
1275 Kitmore Rd Unit 1245K-T Baltimore, MD	3.0	1.0	935	$1,895	$2.03	5d	1	0.73mi
1260 Rossiter Ave Baltimore, MD	2.0	1.0	710	$1,250	$1.76	2d	37	0.78mi
1106 Gleneagle Rd Unit 2 Baltimore, MD	2.0	1.0	1100	$1,450	$1.32	44d	1	0.94mi
1116 Gleneagle Rd Unit 2 Baltimore, MD	2.0	1.0	726	$1,750	$2.41	24d	1	0.96mi
1116 Gleneagle Rd Unit 2 Baltimore, MD	2.0	1.0	876	$1,750	$2.00	44d	1	0.96mi
1116 Gleneagle Rd Unit 1 Baltimore, MD	2.0	1.0	726	$1,695	$2.33	5d	1	0.96mi
815 Gilrubin Ct Baltimore, MD	2.0	1.0	900	$1,695	$1.88	44d	1	0.97mi
1129 Gleneagle Rd Unit B Baltimore, MD	2.0	1.0	700	$1,200	$1.71	44d	1	0.98mi
5307 Leith Rd Baltimore, MD	2.0	1.0	630	$1,350	$2.14	13d	1	0.98mi
812 Nat Ct Apt 12 Baltimore, MD	2.0	1.0	900	$1,295	$1.44	44d	1	0.98mi
6105 Chinquapin Pkwy Unit 1st Floor Baltimore, MD	2.0	1.0	726	$1,299	$1.79	18d	1	1.01mi
5664 Woodmont Ave Baltimore, MD	1.0–2.0	1.0	710	$1,175	$1.65	3d	10	1.02mi
6116 Northwood Dr Unit B Baltimore, MD	2.0	1.0	810	$1,329	$1.64	44d	1	1.03mi
6106 Northwood Dr Baltimore, MD	1.0–2.0	1.0	750	$1,299	$1.73	5d	2	1.03mi
6121 Chinquapin Pkwy Unit 1 Baltimore, MD	2.0	1.0	700	$1,350	$1.93	18d	1	1.04mi
1104 Meridene Dr Unit 1 Baltimore, MD	2.0	1.0	1098	$1,350	$1.23	44d	1	1.10mi
956 Argonne Dr Baltimore, MD	1.0–2.0	1.0	662	$1,295	$1.95	5d	6	1.12mi
1018 Woodson Rd Baltimore, MD	1.0–3.0	1.0–2.0	815	$2,329	$2.86	3d	13	1.20mi
1652 E Cold Spring Ln Unit 2 Baltimore, MD	2.0	1.0	700	$1,500	$2.14	24d	1	1.33mi
3721 Ellerslie Ave Baltimore, MD	1.0–3.0	1.0–2.0	894	$1,603	$1.79	2d	1	1.40mi

Listing history 20 events

1. 2026-06-18
   days on market $154,500 Active 220 DOM
2. 2026-06-17
   days on market $154,500 Active 219 DOM
3. 2026-06-16
   days on market $154,500 Active 218 DOM
4. 2026-06-15
   days on market $154,500 Active 217 DOM
5. 2026-06-13
   days on market $154,500 Active 215 DOM
6. 2026-06-09
   days on market $154,500 Active 211 DOM
7. 2026-06-08
   days on market $154,500 Active 210 DOM
8. 2026-06-07
   days on market $154,500 Active 209 DOM
9. 2026-06-04
   days on market $154,500 Active 206 DOM
10. 2026-06-03
    days on market $154,500 Active 205 DOM
11. 2026-06-02
    days on market $154,500 Active 204 DOM
12. 2026-06-01
    days on market $154,500 Active 203 DOM
13. 2026-05-31
    days on market $154,500 Active 202 DOM
14. 2025-12-23
    price $154,500 1290-char remark

    Show marketing remark (1290 chars)

    Nestled in the charming Winston Govans neighborhood, this exquisite AirLite townhouse offers a perfect blend of comfort and sophistication. With three spacious bedrooms and a beautifully appointed full bathroom, this home is designed for both relaxation and entertaining. The classic brick exterior exudes timeless elegance, while the inviting interior beckons you to unwind. Step inside to discover a thoughtfully laid-out floor plan that maximizes space and natural light. The full basement provides endless possibilities, whether you envision a cozy family room, a home gym, or a creative studio. The potential for customization is limitless, allowing you to tailor the space to your unique lifestyle. Enjoy the convenience of on-street parking, making it easy for guests to visit. The surrounding community is rich with amenities, offering a vibrant lifestyle just moments from your doorstep. Explore local parks, boutique shops, and delightful dining options that make this neighborhood truly special. This property is not just a house; it's a place to create lasting memories. Experience the warmth of home in a setting that combines modern living with classic charm. Don't miss the opportunity to make this enchanting townhouse your own and embrace the exclusive lifestyle it offers.

15. 2025-11-10
    listed $154,900 Active 1290-char remark

    Show marketing remark (1290 chars)

    Nestled in the charming Winston Govans neighborhood, this exquisite AirLite townhouse offers a perfect blend of comfort and sophistication. With three spacious bedrooms and a beautifully appointed full bathroom, this home is designed for both relaxation and entertaining. The classic brick exterior exudes timeless elegance, while the inviting interior beckons you to unwind. Step inside to discover a thoughtfully laid-out floor plan that maximizes space and natural light. The full basement provides endless possibilities, whether you envision a cozy family room, a home gym, or a creative studio. The potential for customization is limitless, allowing you to tailor the space to your unique lifestyle. Enjoy the convenience of on-street parking, making it easy for guests to visit. The surrounding community is rich with amenities, offering a vibrant lifestyle just moments from your doorstep. Explore local parks, boutique shops, and delightful dining options that make this neighborhood truly special. This property is not just a house; it's a place to create lasting memories. Experience the warmth of home in a setting that combines modern living with classic charm. Don't miss the opportunity to make this enchanting townhouse your own and embrace the exclusive lifestyle it offers.

16. 2001-02-09
    historical
17. 2000-09-18
    historical
18. 2000-09-14
    listed
19. 2000-05-13
    listed
20. 2000-02-28
    soldstatus $42,000

ⓘ 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: $1,937 · $161/mo
• Projected year-2 tax: $1,937 · $161/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: $19,115
• − Mortgage interest: −$8,654
• − Property taxes: −$1,937
• − Insurance: −$772
• − Repairs & maintenance: −$1,529
• − Management: −$1,529
• − Depreciation: −$4,495
• Taxable income: $198
• Est. tax owed @ 24.0%: −$48
• After-tax cash flow: $2,621/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

+267.9% since first listed

7 events — show timeline

• 2025-12-23 Price Changed $154,500 BRIGHT MLS
• 2025-11-10 Listed $154,900 BRIGHT MLS
• 2001-02-09 Delisted — MRIS
• 2000-09-18 Delisted — MRIS
• 2000-09-14 Listed — MRIS
• 2000-05-13 Listed — MRIS
• 2000-02-28 Sold (Public Records) $42,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $1,937 · +6.4% YoY. Source: county tax records.