3205 Shannon Dr · Baltimore, MD 21213

$174,900

3 bd · 1.0 ba · 2,026 sqft · Townhouse public records · 2 Days on market

Built 1928 2,178 sqft lot Est $223k · 22% 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 +24.8/30.0
• ARV discount +15.0/15.0
• DSCR +8.0/10.0
• 1% rule +6.7/10.0
• Appreciation +4.7/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0

Listing remarks

This property is part of a larger portfolio. Please contact for more details regarding associated listings. Closings will need to be coordinated with the other properties in the portfolio but may sell to individual buyers. Seller will only accept offers from serious buyers who can align with that timeline.

Key facts

• Built 1928

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Electric service
• Home design: Interior townhouse/rowhouse; Above-grade finished area per assessor
• Construction: Brick construction; Block foundation; Built-up roof; Above- and below-grade structures; Below-grade finished and unfinished areas per assessor
• Exterior features: No tidal water

Interior

• Bedrooms: Three bedrooms on the first upper level
• Bathrooms: Two full bathrooms (one on the first upper level, one on the first lower level)
• Heating & cooling: Forced air heating (natural gas); Ceiling fan cooling (electric); Natural gas hot water
• Interior features: Basement with connecting stairway (unfinished areas); Living area source: Assessor

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $175k.

Deal economics

• At list price, monthly cash flow is $370 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Cap rate 8.8% 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: 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.
• Zoned schools: The Belair-Edison School (math 3% / reading 13%, grade F, #674 of 860 statewide, top 79%, 1,013 students, 87% FRL, charter); Vanguard Collegiate Middle (math 3% / reading 15%, grade F, #212 of 225 statewide, top 95%, 343 students, 84% FRL); Baltimore Polytechnic Institute (math 71% / reading 84%, grade A-, #22 of 222 statewide, top 10%, 1,555 students, 43% FRL).
• Zoned-school proficiency averages 32% at this address vs 12% district-wide (+20 pts) — the actual schools serving this property are materially stronger than the Baltimore City Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+5.2%/yr); 319 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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).
• At $2,040/mo this rent would consume 48% of the median local household income ($51k/yr) (locally 1868% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $216 of equity ($1k loan paydown + $-993 appreciation (-0.6% local appreciation)).
• Baltimore County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-0.6% appreciation + 5.2% rent growth), your $49k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 15y 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: 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 $174,900

Questions for the listing agent

1. Built in 1928 — 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: 1.17% ✓
• Cap rate: 8.83%
• Cash-on-cash: 9.07%
• DSCR: 1.40
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $222,860
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3402 Ramona Ave	0.14mi	4/2.0 (+1)	2,005 (-1%)	2mo	$185,000	$92	81
4312 Parkside Dr	0.14mi	4/2.0 (+1)	1,980 (-2%)	2mo	$260,000	$131	79
3401 Ramona Ave	0.14mi	3/2.0	1,812 (-11%)	0mo	$199,000	$110	72
2827 Chesterfield Ave	0.33mi	2/1.0 (-1)	1,890 (-7%)	3mo	$80,000	$42	66
3525 Cliftmont Ave	0.37mi	3/3.5	1,942 (-4%)	1mo	$269,900	$139	66
3009 Kentucky Ave	0.30mi	3/2.5	1,884 (-7%)	5mo	$218,000	$116	64
3005 Belair Rd	0.65mi	3/2.0	2,097 (+4%)	4mo	$110,000	$52	56
2647 Chesterfield Ave	0.50mi	3/2.0	1,836 (-9%)	3mo	$190,000	$103	55
2835 Brendan Ave	0.41mi	3/1.0	1,725 (-15%)	2mo	$76,500	$44	55
3602 Chesterfield Ave	0.36mi	4/2.0 (+1)	1,800 (-11%)	3mo	$125,000	$69	53
3506 Elmora Ave	0.70mi	4/2.0 (+1)	1,767 (-13%)	3mo	$248,000	$140	35
2901 Edison Hwy	0.63mi	4/3.5 (+1)	1,760 (-13%)	4mo	$275,000	$156	30

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.57% appreciation · 5.25% rent growth · sell at horizon

5-year hold

• IRR: 8.1%
• Equity multiple: 1.38×
• Total profit: $18,609
• Equity at exit: $45,875

10-year hold

• IRR: 15.5%
• Equity multiple: 2.73×
• Total profit: $84,913
• Equity at exit: $51,362

Cash invested: $48,972 (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 21213

• Home prices YoY: -0.1%
• Rents YoY: 5.2%
• Active inventory: 319
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,040 high
• Mortgage (P&I): −$917
• Tax from tax record: −$252 /mo · $3,019/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $370

Break-even live

Break-even rent $1,572

Max offer price $174,900

Occupancy floor 77%

Sensitivity live

Price	-10% $469	-5% $420	+0% $370	+5% $321	+10% $271
Rent	-10% $209	-5% $289	+0% $370	+5% $451	+10% $531
Rate	-1.0pp $458	-0.5pp $415	base $370	+0.5pp $325	+1.0pp $279

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3300 Dudley Ave Baltimore, MD	4.0	2.0	1724	$2,200	$1.28	45d	1	0.11mi
3305 Dudley Ave Baltimore, MD	3.0	2.0	1413	$1,950	$1.38	45d	1	0.13mi
3027 Shannon Dr Baltimore, MD	3.0	2.0	1950	$2,500	$1.28	45d	1	0.14mi
4244 Shamrock Ave Baltimore, MD	3.0	1.5	1920	$1,850	$0.96	25d	1	0.17mi
4110 Harris Ave Unit 1 Baltimore, MD	3.0	2.0	2450	$1,650	$0.67	25d	1	0.29mi
3551 Shannon Dr Baltimore, MD	3.0	2.0	1485	$2,358	$1.59	25d	1	0.32mi
3573 Shannon Dr Baltimore, MD	4.0	2.0	1493	$2,300	$1.54	19d	1	0.36mi
2817 Pelham Ave Baltimore, MD	3.0	2.0	1464	$1,950	$1.33	25d	1	0.37mi
2735 Chesterfield Ave Baltimore, MD	3.0	2.5	1536	$2,000	$1.30	12d	1	0.42mi
3572 Juneway Unit 1 Baltimore, MD	2.0	1.0	1800	$1,200	$0.67	45d	1	0.43mi
3519 Kentucky Ave Baltimore, MD	3.0	2.0	1536	$2,100	$1.37	12d	1	0.45mi
3525 Kentucky Ave Baltimore, MD	3.0	1.5	1536	$1,950	$1.27	45d	1	0.45mi
3551 Elmley Ave Baltimore, MD	3.0	1.5	1872	$2,095	$1.12	25d	1	0.63mi
3005 Belair Rd Baltimore, MD	3.0	2.0	2000	$1,600	$0.80	19d	1	0.67mi
3603 Ravenwood Ave Unit 1 Baltimore, MD	4.0	1.0	1566	$1,600	$1.02	45d	1	0.71mi
4718 Blue Ridge Ave Baltimore, MD	4.0	3.0	1744	$2,400	$1.38	12d	1	0.72mi
3512 Elmora Ave Baltimore, MD	3.0	1.5	1472	$1,900	$1.29	21d	1	0.72mi
4104 Erdman Ave Unit 2 Baltimore, MD	2.0	1.0	1566	$1,075	$0.69	6d	1	0.78mi
3222 Lyndale Ave Unit 1 Baltimore, MD	3.0	1.5	1500	$2,200	$1.47	14d	1	0.89mi
4300 Orchard Ridge Blvd Baltimore, MD	1.0–3.0	1.0–2.0	1021	$1,809	$1.77	45d	1	0.90mi
5731 Denwood Ave Baltimore, MD	3.0	1.5	1440	$1,700	$1.18	25d	1	1.04mi
3802 Biddison Ln Baltimore, MD	4.0	1.5	1443	$2,024	$1.40	12d	1	1.17mi
2918 Grindon Ave Unit 1ST Baltimore, MD	2.0	1.0	2000	$1,250	$0.62	45d	1	1.25mi
1923 E 31st St Baltimore, MD	3.0	1.5	2264	$1,600	$0.71	25d	1	1.26mi
3514 Ailsa Ave Baltimore, MD	3.0	2.0	1800	$2,200	$1.22	45d	1	1.26mi
1829 N Port St Baltimore, MD	3.0	1.5	2000	$1,625	$0.81	45d	1	1.35mi
1403 N Linwood Ave Baltimore, MD	3.0	2.0	1660	$1,995	$1.20	45d	1	1.37mi
3721 Frankford Ave Baltimore, MD	3.0	2.0	1600	$2,050	$1.28	45d	1	1.37mi
2522 E Federal St Baltimore, MD	2.0	2.0	1760	$1,400	$0.80	45d	1	1.41mi
2621 E Oliver St Baltimore, MD	3.0	2.0	1600	$1,700	$1.06	25d	1	1.44mi
4905 Greencrest Rd Baltimore, MD	3.0	1.5	1536	$1,950	$1.27	45d	1	1.50mi

Listing history 3 events

1. 2026-06-03
   days on market $174,900 Active 2 DOM
2. 2026-06-02
   remarks 307-char remark
3. 2026-06-02
   listed $174,900 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: $3,019 · $252/mo
• Projected year-2 tax: $3,019 · $252/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 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,481
• − Mortgage interest: −$9,797
• − Property taxes: −$3,019
• − Insurance: −$874
• − Repairs & maintenance: −$1,959
• − Management: −$1,959
• − Depreciation: −$5,088
• Taxable income: $1,786
• Est. tax owed @ 24.0%: −$429
• After-tax cash flow: $4,012/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): 28,058
• Household income: $51,344
• Rent vs Own: 48.0% rent · 52.0% own
• Severe rent burden: 1868.0

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 (86%)
• Race & ethnicity: Black 86% White 6% Hispanic / Latino 4% Two or more races 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -0.57%
• Current HPI: 427.4453
• Rent YoY: ▲ 5.25%
• 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

+218.0% since first listed

12 events — show timeline

• 2026-06-01 Listed $174,900 BRIGHT MLS
• 2018-03-01 Sold (Public Records) $4,552,396 Public Records
• 2015-11-25 Delisted — MRIS
• 2015-11-25 Listing Removed — BRIGHT MLS
• 2015-06-24 Listed — MRIS
• 2015-06-23 Listed $126,000 BRIGHT MLS
• 2011-06-08 Delisted — MRIS
• 2011-06-08 Listing Removed — BRIGHT MLS
• 2011-04-29 Price Changed — MRIS
• 2011-04-13 Price Changed — MRIS
• 2011-03-09 Listed — MRIS
• 2011-03-09 Listed $54,999 BRIGHT MLS

Property tax history

-0.2%/yr

Latest (2025): $3,019 · +4.8% YoY. Source: county tax records.