3 Slavin Ct Unit 2K · Carney, MD 21236

$240,000

3 bd · 1.0 ba · 1,056 sqft · Condo public records · 22 Days on market

Built 1975 $169/mo HOA · 8% of rent

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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 +12.5/30.0
• ARV discount +7.5/15.0
• 1% rule +4.2/10.0
• Livability +3.9/5.0
• Rent growth +3.8/5.0
• DSCR +3.7/10.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Move-in ready home featuring a brand-new roof, new carpet, fresh paint, and many other recent improvements. This well-maintained property offers comfort and convenience, making it a great opportunity for buyers looking for a home that’s ready to enjoy from day one. ! 🏡✨

Key facts

• $169 HOA
• Community pool
• Built 1975

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath condo listed at $240k.

Deal economics

• At list price, monthly cash flow is $-33 ($-402/yr) — negative.
• To cash-flow at today's rent, offer at most $234k (2.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $221k (8.0% below list).
• Recommended offer: $221k (8.0% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 4.6% in Carney — 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 78/100 on livability (#73 in MD, #2,656 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, commute A, employment A; Watch: cost of living C-, amenities D+, crime D-.
• Baltimore County Public Schools (suburban): math 15% / reading 34% proficiency, ranked #11 of 24 in MD (top 46%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+5.3%/yr); 132 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 46% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,511 units permitted in Baltimore County in 2024 (643 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Baltimore County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $50k; list at $240k implies a 381% 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 $220,714 (8.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Crime grade is D 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. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.92% ✗
• Cap rate: 6.13%
• Cash-on-cash: -0.60%
• DSCR: 0.97
• GRM: 9.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.34% rent growth · sell at horizon

5-year hold

• IRR: -14.5%
• Equity multiple: 0.47×
• Total profit: $-35,597
• Equity at exit: $35,785

10-year hold

• IRR: -2.1%
• Equity multiple: 0.84×
• Total profit: $-10,418
• Equity at exit: $20,751

Cash invested: $67,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 27 Tenant-Leaning
• State Maryland: 27 Tenant-Leaning · D+14
• County: — inherits STATE
• City: — inherits STATE

Failure-to-pay is dismissed if cured before judgment; Baltimore has just-cause; strict deposit rules.

Methodology + full state rankings →

ZIP-level market 21236

• Rents YoY: 5.3%
• Active inventory: 132
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,207 high
• Mortgage (P&I): −$1,259
• Tax from tax record: −$250 /mo · $2,994/yr
• Insurance: −$100
• HOA: −$169
• Vacancy / Maint / Mgmt: −$463
• Net cashflow: $-33

Break-even live

Break-even rent $2,249

Max offer price $234,089

Occupancy floor 97%

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8507 Gradien Dr Baltimore, MD	3.0	1.5	1056	$2,100	$1.99	24d	1	0.10mi
8552 Hydra Ln Unit 11G Nottingham, MD	4.0	2.0	1296	$2,872	$2.22	18d	1	0.14mi
55 Insley Way Nottingham, MD	2.0–3.0	1.0–1.5	820	$1,900	$2.32	12d	15	0.14mi
8334 Tapu Ct Nottingham, MD	3.0	2.5	1302	$2,100	$1.61	15d	1	0.23mi
21 Monhegan Ct Unit 28B Nottingham, MD	3.0	2.0	1436	$1,900	$1.32	44d	1	0.29mi
9 Robinway Ct Unit 25E Nottingham, MD	3.0	2.0	1500	$2,750	$1.83	44d	1	0.29mi
2 Durness Ct Unit 30I Nottingham, MD	3.0	2.0	1446	$2,100	$1.45	44d	1	0.30mi
8501 Walther Blvd Nottingham, MD	1.0–2.0	1.0	780	$1,629	$2.09	2d	21	0.41mi
3754 Foxford Stream Rd Nottingham, MD	4.0	4.0	1360	$2,800	$2.06	44d	1	0.49mi
1 Waldmann Mill Ct Nottingham, MD	2.0–3.0	1.0–1.5	1076	$2,249	$2.09	3d	12	0.53mi
9730 Red Clover Ct Parkville, MD	3.0	1.5	1280	$2,200	$1.72	44d	1	0.73mi
4219 Slater Ave Nottingham, MD	3.0	1.0	1174	$2,000	$1.70	44d	1	0.74mi
4236 Slater Ave Nottingham, MD	3.0	2.0	1266	$2,500	$1.97	2d	1	0.81mi
8818 Blairwood Rd Nottingham, MD	1.0–2.0	1.0	900	$1,649	$1.83	2d	42	0.81mi
7935 Belridge Rd Nottingham, MD	1.0–3.0	1.0–1.5	974	$2,172	$2.23	2d	17	0.88mi
11 Springtowne Cir Parkville, MD	1.0–2.0	1.0–2.5	819	$1,957	$2.39	4d	21	0.98mi
9702 Oakdale Ave Parkville, MD	4.0	2.0	1188	$2,000	$1.68	44d	1	1.07mi
9608 9th Ave Parkville, MD	3.0	1.5	1040	$2,200	$2.12	5d	1	1.09mi
3 Sagebrush Ct Nottingham, MD	3.0	2.0	1395	$2,100	$1.51	44d	1	1.22mi
9300 Carney Ave Unit A Parkville, MD	2.0	1.0	1392	$1,300	$0.93	44d	1	1.28mi
105 Bourbon Ct Parkville, MD	3.0	2.5	1320	$2,150	$1.63	44d	1	1.31mi
2908 5th Ave Parkville, MD	3.0	1.0	1260	$1,950	$1.55	44d	1	1.32mi
4335 Bedrock Cir Nottingham, MD	1.0–3.0	1.0–2.0	887	$2,490	$2.81	2d	13	1.48mi
3800 Meghan Dr Unit 3C Nottingham, MD	3.0	2.0	1379	$2,100	$1.52	5d	1	1.49mi

HOA detail condo

• Monthly dues: $169 · $2,028/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-04-06
   status Pending
2. 2026-04-04
   historical
3. 2026-03-13
   listed $240,000 Active
4. 2026-03-08
   historical $240,000
5. 1983-06-28
   soldstatus $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: $2,994 · $250/mo
• Projected year-2 tax: $2,994 · $250/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 ≥104°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: $26,486
• − Mortgage interest: −$13,444
• − Property taxes: −$2,994
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,119
• − Management: −$2,119
• − HOA: −$2,028
• − Depreciation: −$6,982
• Taxable loss: −$4,400
• Est. tax savings @ 24.0%: +$1,056
• After-tax cash flow: $654/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 County Public Schools
• NCES district ID: 2400120
• Math proficiency: 15% ▼ -16.00%
• Reading proficiency: 34% ▼ -5.00%
• Median HH income: $66,746
• Composite: 23.17/100
• National rank: #7948
• State rank: #11 of 24 in MD

Livability — Carney

• Score: 78/100
• State rank: #73
• US rank: #2656

Category grades

Amenities D+ Commute A Cost of living C- Crime D- Employment A Housing A+ Health & safety A User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Carney, MD
• County: Baltimore County · 769,527 people
• City population: 65,010
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 39,514
• Household income: $95,149
• Rent vs Own: 30.4% rent · 69.6% own
• Severe rent burden: 1476.0

Population outlook (Baltimore County) Hauer SSP2

• Today (2025): 885,518 people
• By 2030: 909,272 · +2.7%
• By 2040: 951,547 · +7.5%
• By 2050: 990,955 · +11.9%
• By 2075: 1,086,411 · +22.7%
• By 2100: 1,135,078 · +28.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 56% Black 19% Asian 16% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 1%
• Common ancestry: Romanian 5% Lithuanian 2% Italian 1%
• Foreign-born: 17% · Canada, South Korea, Vietnam
• Languages at home: 79% English-only · Other Indo-European 8% Spanish 3% Tagalog/Filipino 2%

Political lean MEDSL · Baltimore

• 2024 margin: Strong D (+24.5) · D 61.0% · R 36.5% · Other 2.5%
• 2008→2024 swing: +9.9pp toward D · 2008: 14.6pp · 2024: 24.5pp
• All cycles: 2024: D+24.5 2020: D+27.0 2016: D+17.4 2012: D+16.4 2008: D+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -268.43%
• Current HPI: 244.9907
• Rent YoY: ▲ 5.34%
• 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

+381.0% since first listed

5 events — show timeline

• 2026-04-06 Pending — BRIGHT MLS
• 2026-04-04 Listing Removed — BRIGHT MLS
• 2026-03-13 Listed $240,000 BRIGHT MLS
• 2026-03-08 Coming Soon $240,000 BRIGHT MLS
• 1983-06-28 Sold (Public Records) $49,900 Public Records

Property tax history

+1.8%/yr

Latest (2025): $2,994 · +5.2% YoY. Source: county tax records.