3501-A Davenport Ct Unit A · Lake Shore, MD 21122

$225,000

2 bd · 1.0 ba · 887 sqft · Condo public records · 9 Days on market

Built 1986 $271/mo HOA · 12% 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 +14.4/30.0
• ARV discount +7.5/15.0
• 1% rule +4.9/10.0
• DSCR +4.4/10.0
• Livability +3.0/5.0
• Schools +2.9/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Walk out level condo. .. .beautifully updated and ready for you to call it home! Relax on your back porch, walk right out the sliding door and enjoy the privacy and quietness the tree lined view provides. Home was just painted neutral gray complimenting the beautiful wood look flooring. Primary bedroom dressing area isn't your typical vanity, separate sink with plenty of storage. Walk in closet with custom organizer. Newer slider windows and sliding door. Don't worry if you need a little closing help, seller remembers and will help!

Key facts

• $271 HOA
• Community pool
• Built 1986

Property features AI

Finance

• Other: Pets allowed with no pet restrictions
• HOA & community: Monthly condo fee of $271; HOA covers common area maintenance, exterior building maintenance, lawn maintenance, pools, snow removal, trash, and water

Exterior

• Parking: Paved parking in a parking lot
• Utilities: Public water; Public sewer
• Home design: Condominium unit/flat; Garden-style building (1–4 floors); Entry on level 1
• Construction: Mixed construction materials; Vinyl-clad windows
• Exterior features: Community in-ground pool; Common grounds; Basketball courts; Tennis courts; Dog park; Tot lots/playground; Above-grade and below-grade structures; Not in a federal flood zone; 2+ access exits

Interior

• Kitchen: Dishwasher; Disposal; Refrigerator; Stove; Stainless steel appliances; Exhaust fan
• Bedrooms: 2 bedrooms on main level
• Flooring: Carpet; Ceramic tile; Luxury vinyl plank
• Bathrooms: 1 full bathroom on main level; 1 full bathroom total
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Open floor plan; Family room off kitchen; Galley kitchen; Tub/shower
• Laundry & utility: Washer and dryer in unit; Water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $225k.

Deal economics

• At list price, monthly cash flow is $44 ($532/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $222k (1.5% below list).
• Recommended offer: $222k (1.5% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 2.8% in Lake Shore — 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 59/100 on livability (#378 in MD) — a working-class tenant base; expect higher turnover. Strengths: employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Anne Arundel County Public Schools (suburban): math 20% / reading 37% proficiency, ranked #10 of 24 in MD (top 42%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Jacobsville Elementary (math 13% / reading 20%, grade F, #433 of 860 statewide, top 51%, 510 students, 31% FRL); Chesapeake Bay Middle (math 15% / reading 42%, grade F, #74 of 225 statewide, top 33%, 1,067 students, 26% FRL); Chesapeake High (math 50% / reading 71%, grade C+, #71 of 222 statewide, top 32%, 1,419 students, 23% FRL) — zoned schools at 27% FRL track the district average.
• Market conditions: Rents flat; 253 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,303 units permitted in Anne Arundel County in 2024 (299 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.
• Anne Arundel County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 29y ago; this cycle's ask is 15% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $195k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $221,625 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
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. 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?
6. 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.
7. 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.
8. 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: 0.98% ✗
• Cap rate: 6.53%
• Cash-on-cash: 0.84%
• DSCR: 1.04
• GRM: 8.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.76% rent growth · sell at horizon

5-year hold

• IRR: -17.7%
• Equity multiple: 0.39×
• Total profit: $-38,394
• Equity at exit: $33,548

10-year hold

• IRR: -15.2%
• Equity multiple: 0.23×
• Total profit: $-48,450
• Equity at exit: $19,454

Cash invested: $63,000 (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 21122

• Rents YoY: 0.8%
• Active inventory: 253
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,216 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$162 /mo · $1,942/yr
• Insurance: −$94
• HOA: −$271
• Vacancy / Maint / Mgmt: −$465
• Net cashflow: $44

Break-even live

Break-even rent $2,160

Max offer price $225,000

Occupancy floor 93%

Sensitivity live

Price	-10% $172	-5% $108	+0% $44	+5% $-19	+10% $-83
Rent	-10% $-131	-5% $-43	+0% $44	+5% $132	+10% $219
Rate	-1.0pp $158	-0.5pp $102	base $44	+0.5pp $-14	+1.0pp $-73

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8036 Abbey Ct Unit J Pasadena, MD	2.0	1.0	924	$1,850	$2.00	13d	1	0.08mi
3581 Brickwall Ln Pasadena, MD	3.0	1.0	1060	$2,200	$2.08	6d	1	0.20mi
3630 Saltwood Gln Pasadena, MD	2.0	2.0	960	$2,339	$2.44	4d	1	0.22mi
932 12th St Pasadena, MD	3.0	2.5	1100	$2,750	$2.50	45d	1	0.91mi
7810 East Rd Pasadena, MD	2.0	2.0	832	$2,500	$3.00	45d	1	0.98mi
7810 East Rd Pasadena, MD	2.0	2.0	832	$2,500	$3.00	0d	1	0.98mi
7663 Cedar Dr Pasadena, MD	1.0	1.0	1100	$1,200	$1.09	19d	1	1.41mi

HOA detail condo

• Monthly dues: $271 · $3,252/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-06-21
   statusdays on market $225,000 Pending 9 DOM
2. 2026-06-18
   days on market $225,000 Active 8 DOM
3. 2026-06-17
   days on market $225,000 Active 7 DOM
4. 2026-06-16
   days on market $225,000 Active 6 DOM
5. 2026-06-15
   days on market $225,000 Active 5 DOM
6. 2026-06-13
   statusdays on market $225,000 Active 3 DOM
7. 2026-06-10
   remarks 699-char remark
8. 2026-06-10
   listed $225,000 Coming Soon 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: $1,942 · $162/mo
• Projected year-2 tax: $2,197 · $183/mo
• Expected delta: +$255/yr (+$21/mo · 13.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $26,595
• − Mortgage interest: −$12,603
• − Property taxes: −$1,942
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,128
• − Management: −$2,128
• − HOA: −$3,252
• − Depreciation: −$6,545
• Taxable loss: −$3,128
• Est. tax savings @ 24.0%: +$751
• After-tax cash flow: $1,283/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: Anne Arundel County Public Schools
• NCES district ID: 2400060
• Math proficiency: 20% ▼ -21.00%
• Reading proficiency: 37% ▼ -13.00%
• Median HH income: $87,880
• Composite: 28.52/100
• National rank: #6733
• State rank: #10 of 24 in MD

Livability — Lake Shore

• Score: 59/100
• State rank: #378
• US rank: #20490

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Shore, MD
• County: Anne Arundel County · 535,653 people
• City population: 61,589
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 61,566
• Household income: $127,587
• Rent vs Own: 13.4% rent · 86.6% own
• Severe rent burden: 791.0

Population outlook (Anne Arundel County) Hauer SSP2

• Today (2025): 617,384 people
• By 2030: 642,094 · +4.0%
• By 2040: 686,621 · +11.2%
• By 2050: 723,031 · +17.1%
• By 2075: 809,346 · +31.1%
• By 2100: 837,658 · +35.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Two or more races 7% Black 7% Hispanic / Latino 5% Asian 2%
• Common ancestry: Romanian 4% Lithuanian 2% Slovak 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 1% Chinese 0%

Political lean MEDSL · Anne Arundel

• 2024 margin: D (+13.9) · D 55.7% · R 41.7% · Other 2.6%
• 2008→2024 swing: +15.7pp toward D · 2008: -1.8pp · 2024: 13.9pp
• All cycles: 2024: D+13.9 2020: D+14.5 2016: D+0.7 2012: R+0.9 2008: R+1.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -401.00%
• Current HPI: 283.1566
• Rent YoY: ▲ 0.76%
• 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

+325.7% since first listed

40 events — show timeline

• 2026-06-09 Coming Soon $225,000 BRIGHT MLS
• 2021-09-29 Sold (Public Records) $195,000 Public Records
• 2021-09-10 Sold (MLS) $195,000 BRIGHT MLS
• 2021-07-27 Pending — BRIGHT MLS
• 2021-07-23 Listed $195,000 BRIGHT MLS
• 2018-05-09 Sold (Public Records) $153,800 Public Records
• 2018-04-27 Sold (MLS) $153,800 MRIS
• 2018-01-31 Pending — MRIS
• 2018-01-25 Listed $155,000 MRIS
• 2013-01-04 Sold (Public Records) $116,000 Public Records
• 2012-12-28 Sold (MLS) $116,000 MRIS
• 2012-10-08 Pending — MRIS
• 2012-10-08 Contingent — MRIS
• 2012-10-01 Price Changed $119,500 MRIS
• 2012-09-10 Listed $124,900 MRIS
• 2010-12-06 Delisted — MRIS
• 2010-12-03 Price Changed — MRIS
• 2010-10-14 Price Changed — MRIS
• 2010-10-06 Price Changed — MRIS
• 2010-09-30 Price Changed — MRIS
• 2010-09-22 Price Changed — MRIS
• 2010-09-02 Listed — MRIS
• 2004-05-21 Delisted — MRIS
• 2004-04-21 Listed — MRIS
• 1997-06-06 Sold (Public Records) $64,900 Public Records
• 1997-05-23 Sold (MLS) $64,900 MRIS
• 1997-04-07 Delisted — MRIS
• 1997-04-05 Listed $64,999 MRIS
• 1992-04-22 Sold (Public Records) $72,500 Public Records
• 1991-11-18 Sold (Public Records) $73,000 Public Records
• 1991-09-06 Sold (Public Records) $70,500 Public Records
• 1991-04-30 Sold (Public Records) $67,900 Public Records
• 1990-07-24 Sold (Public Records) $69,900 Public Records
• 1990-06-29 Sold (Public Records) $72,000 Public Records
• 1990-06-07 Sold (Public Records) $69,900 Public Records
• 1990-02-27 Sold (Public Records) $73,000 Public Records
• 1989-11-20 Sold (Public Records) $69,000 Public Records
• 1988-10-10 Sold (Public Records) $62,400 Public Records
• 1988-05-12 Sold (Public Records) $60,000 Public Records
• 1986-11-03 Sold (Public Records) $52,850 Public Records

Property tax history

+6.3%/yr

Latest (2025): $1,942 · +2.3% YoY. Source: county tax records.