3017 Shannon · Baltimore, MD 21213

$139,900

3 bd · 1.5 ba · 1,580 sqft · Townhouse public records · 109 Days on market

Built 1928 1,742 sqft lot Est $158k · 11% 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 +30.0/30.0
• ARV discount +12.7/15.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• 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

SELLER SAYS SELL!! Discover this charming Colonial townhouse in Belair- Edison, directly across from Herring Run Park! This home offers a perfect blend of opportunity and potential. This one is a rehabbers dream! With over 2300 sq. ft. of total living space, this home features a cozy electric fireplace, ideal for creating warm, inviting gatherings, high ceilings, and large rooms. The fully carpeted and hardwood floors provide a versatile backdrop for your personal style. The daylight basement offers ample space for additional rooms or a recreational area, catering to your lifestyle needs. Enjoy the convenience of a detached garage with rear entry, ensuring easy access and extra storage.

Key facts

• Colonial townhouse
• Herring run park
• Brick townhouse

Tags

• COLONIAL TOWNHOUSE
• HERRING RUN PARK
• ELECTRIC FIREPLACE
• DAYLIGHT BASEMENT
• DETACHED GARAGE
• BRICK TOWNHOUSE

Property features AI

Exterior

• Parking: Detached rear-entry garage (1 space)
• Utilities: Public water; Private sewer; 100 amp electric service
• Home design: Interior townhouse/rowhouse; Built-up roof
• Construction: Brick construction; Permanent foundation; Above-grade structure
• Exterior features: No tidal water

Interior

• Kitchen: Gas oven/range
• Bedrooms: Three bedrooms on the upper level
• Flooring: Full carpeting; Hardwood; Laminate
• Bathrooms: Two full bathrooms (one on lower level, one on upper level); One half bathroom on the main level
• Heating & cooling: Radiator heating; Window air conditioning units (electric)
• Interior features: 9'+ ceilings; Plaster and paneled walls; Partially furnished; Daylight full basement with space for rooms; Electric fireplace
• Laundry & utility: Natural gas hot water

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $140k.

Deal economics

• At list price, monthly cash flow is $552 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $127k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.0% 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 (+5.2%/yr); 319 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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 $1,947/mo this rent would consume 46% 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 $172 of equity ($967 loan paydown + $-795 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 $39k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 109 days — a 9% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 24y ago; this cycle's ask has dropped $25k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; list at $140k implies a 115% gain — meaningful room to come down on a strong offer.

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 $127,309 (9.0% below list)

Questions for the listing agent

1. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1928 — 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: 1.39% ✓
• Cap rate: 11.02%
• Cash-on-cash: 16.90%
• DSCR: 1.75
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $158,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3914 Eierman Ave	0.39mi	3/2.0	1,628 (+3%)	0mo	$128,000	$79	74
4215 Seidel Ave	0.41mi	3/2.0	1,528 (-3%)	2mo	$186,500	$122	72
3406 Ramona Ave	0.28mi	3/2.0	1,408 (-11%)	0mo	$85,000	$60	66
2846 Lake Ave	0.30mi	4/2.5 (+1)	1,455 (-8%)	2mo	$235,000	$162	63
3401 Ramona Ave	0.27mi	3/2.0	1,812 (+15%)	0mo	$199,000	$110	61
3564 Elmora Ave	0.64mi	3/1.5	1,478 (-6%)	1mo	$133,500	$90	58
3114 Mareco Ave	0.45mi	3/2.0	1,410 (-11%)	2mo	$125,000	$89	58
3571 Dudley Ave	0.46mi	3/2.0	1,400 (-11%)	1mo	$175,000	$125	57
2902 Clifton Park Ter	0.48mi	3/1.5	1,344 (-15%)	1mo	$66,000	$49	52
4718 Parkside Dr	0.62mi	2/2.0 (-1)	1,440 (-9%)	0mo	$214,990	$149	49
3533 Elmley Ave	0.59mi	3/1.5	1,344 (-15%)	1mo	$70,000	$52	47
3733 Ravenwood Ave	0.69mi	3/2.0	1,350 (-15%)	1mo	$135,000	$100	41

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: 17.1%
• Equity multiple: 1.81×
• Total profit: $31,892
• Equity at exit: $36,694

10-year hold

• IRR: 23.7%
• Equity multiple: 3.73×
• Total profit: $106,830
• Equity at exit: $41,084

Cash invested: $39,172 (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: 6.0×

Monthly cashflow live

• Estimated rent: $1,947 high
• Mortgage (P&I): −$734
• Tax from tax record: −$195 /mo · $2,340/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $552

Break-even live

Break-even rent $1,249

Max offer price $139,900

Occupancy floor 67%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3027 Shannon Dr Baltimore, MD	3.0	2.0	1950	$2,500	$1.28	43d	1	0.02mi
3028 Kenyon Ave Baltimore, MD	2.0	2.0	1075	$1,395	$1.30	43d	1	0.03mi
2848 Pelham Ave Baltimore, MD	3.0	2.0	1164	$1,700	$1.46	43d	1	0.16mi
2837 Pelham Ave Baltimore, MD	4.0	2.0	1164	$1,675	$1.44	43d	1	0.19mi
3305 Dudley Ave Baltimore, MD	3.0	2.0	1413	$1,950	$1.38	43d	1	0.20mi
3300 Dudley Ave Baltimore, MD	4.0	2.0	1724	$2,200	$1.28	43d	1	0.20mi
2817 Pelham Ave Baltimore, MD	3.0	2.0	1464	$1,950	$1.33	23d	1	0.21mi
2735 Chesterfield Ave Baltimore, MD	3.0	2.5	1536	$2,000	$1.30	10d	1	0.27mi
4244 Shamrock Ave Baltimore, MD	3.0	1.5	1920	$1,850	$0.96	23d	1	0.27mi
2828 Lake Ave Baltimore, MD	3.0	2.0	1164	$1,850	$1.59	4d	1	0.30mi
3515 Parklawn Ave Baltimore, MD	3.0	2.0	1240	$1,700	$1.37	2d	1	0.32mi
4320 Sheldon Ave Baltimore, MD	3.0	1.5	1280	$1,800	$1.41	23d	1	0.33mi
3436 Cardenas Ave Baltimore, MD	2.0	1.0	1146	$1,395	$1.22	43d	1	0.33mi
4024 Eierman Ave Baltimore, MD	3.0	2.0	1136	$1,825	$1.61	43d	1	0.37mi
4400 Asbury Ave Baltimore, MD	3.0	2.0	1270	$1,995	$1.57	4d	1	0.38mi
3544 Chesterfield Ave Baltimore, MD	3.0	1.5	1200	$1,635	$1.36	43d	1	0.42mi
3551 Shannon Dr Baltimore, MD	3.0	2.0	1485	$2,358	$1.59	23d	1	0.44mi
3519 Kentucky Ave Baltimore, MD	3.0	2.0	1536	$2,100	$1.37	10d	1	0.44mi
3525 Kentucky Ave Baltimore, MD	3.0	1.5	1536	$1,950	$1.27	43d	1	0.45mi
3573 Shannon Dr Baltimore, MD	4.0	2.0	1493	$2,300	$1.54	17d	1	0.47mi
3572 Juneway Unit 1 Baltimore, MD	2.0	1.0	1800	$1,200	$0.67	43d	1	0.47mi
3610 Elmley Ave Baltimore, MD	2.0	1.5	1200	$1,550	$1.29	20d	1	0.52mi
3005 Belair Rd Baltimore, MD	3.0	2.0	2000	$1,600	$0.80	17d	1	0.55mi
3551 Elmley Ave Baltimore, MD	3.0	1.5	1872	$2,095	$1.12	23d	1	0.57mi
3512 Elmora Ave Baltimore, MD	3.0	1.5	1472	$1,900	$1.29	20d	1	0.66mi
3603 Ravenwood Ave Unit 1 Baltimore, MD	4.0	1.0	1566	$1,600	$1.02	43d	1	0.69mi
3914 Erdman Ave #1 Baltimore, MD	3.0	1.0	1200	$1,319	$1.10	17d	1	0.72mi
3335 Lyndale Ave Baltimore, MD	2.0	2.0	1344	$1,600	$1.19	23d	1	0.74mi
3326 Elmora Ave Baltimore, MD	3.0	1.0	1200	$1,450	$1.21	23d	1	0.76mi
4104 Erdman Ave Unit 2 Baltimore, MD	2.0	1.0	1566	$1,075	$0.69	4d	1	0.77mi
3222 Lyndale Ave Unit 1 Baltimore, MD	3.0	1.5	1500	$2,200	$1.47	12d	1	0.78mi
3213 Elmley Ave Baltimore, MD	2.0	1.0	1188	$1,395	$1.17	43d	1	0.78mi
4116 Raymonn Ave Baltimore, MD	3.0	1.5	1244	$1,950	$1.57	43d	1	0.79mi
4718 Blue Ridge Ave Baltimore, MD	4.0	3.0	1744	$2,400	$1.38	11d	1	0.85mi
2113 Belair Rd Baltimore, MD	3.0	1.0	1344	$1,795	$1.34	43d	1	0.86mi
4517 Woodlea Ave Baltimore, MD	2.0	2.0	1326	$1,900	$1.43	2d	1	0.89mi
4300 Orchard Ridge Blvd Baltimore, MD	1.0–3.0	1.0–2.0	1021	$1,809	$1.77	43d	1	0.97mi
4104 Parkwood Ave Baltimore, MD	3.0	1.0	1224	$2,800	$2.29	23d	1	1.02mi
4023 Belwood Ave Baltimore, MD	3.0	1.0	1080	$1,995	$1.85	43d	1	1.10mi
1832 E 28th St Baltimore, MD	3.0	1.0	1066	$1,495	$1.40	23d	1	1.17mi

Listing history 9 events

1. 2026-05-11
   status Pending
2. 2026-05-01
   historical
3. 2026-02-24
   price $139,900
4. 2026-01-12
   listed $165,000 Active
5. 2003-05-23
   soldstatus $65,000
6. 2003-03-26
   historical
7. 2002-07-18
   listed $69,900
8. 1986-10-31
   soldstatus $50,000
9. 1981-01-29
   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: $2,340 · $195/mo
• Projected year-2 tax: $2,340 · $195/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 8/10 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: $23,370
• − Mortgage interest: −$7,837
• − Property taxes: −$2,340
• − Insurance: −$700
• − Repairs & maintenance: −$1,870
• − Management: −$1,870
• − Depreciation: −$4,070
• Taxable income: $4,684
• Est. tax owed @ 24.0%: −$1,124
• After-tax cash flow: $5,494/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

+233.1% since first listed

9 events — show timeline

• 2026-05-11 Pending — BRIGHT MLS
• 2026-05-01 Listing Removed — BRIGHT MLS
• 2026-02-24 Price Changed $139,900 BRIGHT MLS
• 2026-01-12 Listed $165,000 BRIGHT MLS
• 2003-05-23 Sold (MLS) $65,000 MRIS
• 2003-03-26 Delisted — MRIS
• 2002-07-18 Listed $69,900 MRIS
• 1986-10-31 Sold (Public Records) $50,000 Public Records
• 1981-01-29 Sold (Public Records) $42,000 Public Records

Property tax history

-1.2%/yr

Latest (2025): $2,340 · +3.1% YoY. Source: county tax records.