814-C Windstream Way Unit 814-C · Edgewood, MD 21040

$114,900

3 bd · 1.5 ba · 1,260 sqft · Condo · 2 Days on market

Built 1978 Fair condition $210/mo HOA · 11% of rent

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +3.7/5.0
• Livability +3.7/5.0
• Schools +2.9/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

This 3BR/1.5BA semi-detached home awaits you as the perfect DIY project or investment opportunity. Park in your private driveway in front of the two-car garage and step into a home filled with natural light and an open concept main floor. Step through the front door into a spacious living room open to the dining room with sliding doors. The kitchen is tucked behind the dining room and features a pantry closet. The main floor also offers a half bath and access to the garage. On the second floor are two sizable secondary bedrooms, a larger primary bedroom with a walk-in closet and access to the shared full bath. This home is ideal for that homeowner who wants to create the perfect living spac

Key facts

• Private driveway
• Walk-in closet
• Natural light

Tags

• PRIVATE DRIVEWAY
• TWO-CAR GARAGE
• NATURAL LIGHT
• OPEN CONCEPT MAIN FLOOR
• PANTRY CLOSET
• WALK-IN CLOSET

Property features AI

Finance

• HOA & community: Monthly HOA/Condo fee of $210 (fee covers other items/amenities)

Exterior

• Parking: Attached front-entry garage with one garage space
• Utilities: Public water; Public sewer; Electric cooling fuel; Natural gas heating and hot water
• Home design: Vinyl siding construction
• Construction: Vinyl siding exterior
• Exterior features: Condominium ownership; No tidal water

Interior

• Bedrooms: Three bedrooms on the upper level
• Flooring: Carpet
• Bathrooms: One full bathroom on the upper level; One half bathroom on the main level
• Heating & cooling: Forced air heating (natural gas); Central air conditioning (electric); Natural gas hot water
• Interior features: Carpet flooring; No basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $115k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $460 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Cap rate 11.1% vs local median 5.5% in Edgewood — 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 73/100 on livability (#118 in MD, #4,991 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: schools D, amenities D, crime F.
• Harford County Public Schools (suburban): math 22% / reading 39% proficiency, ranked #9 of 24 in MD (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.9%/yr); 94 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 41% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 803 units permitted in Harford County in 2024 (26 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $794 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.9% rent growth), your $32k 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.

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 $114,900

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1978 — 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. 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?
7. 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?
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: 1.61% ✓
• Cap rate: 11.10%
• Cash-on-cash: 17.16%
• DSCR: 1.76
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.92% rent growth · sell at horizon

5-year hold

• IRR: 11.1%
• Equity multiple: 1.45×
• Total profit: $14,485
• Equity at exit: $17,132

10-year hold

• IRR: 21.9%
• Equity multiple: 3.07×
• Total profit: $66,548
• Equity at exit: $9,934

Cash invested: $32,172 (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 21040

• Home prices YoY: -29.4%
• Rents YoY: 4.9%
• Active inventory: 94
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,853 high
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,724/yr
• Insurance: −$48
• HOA: −$210
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $460

Break-even live

Break-even rent $1,271

Max offer price $114,900

Occupancy floor 70%

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
807 Windstream Way Unit 807-C Edgewood, MD	3.0	1.5	1260	$1,800	$1.43	2d	1	0.04mi
805 Windstream Way Unit 805B Edgewood, MD	3.0	1.5	1260	$1,450	$1.15	21d	1	0.04mi
719 Woodbridge Center Way Edgewood, MD	4.0	2.0	994	$2,700	$2.72	17d	1	0.16mi
807 W Spring Meadow Ct Edgewood, MD	3.0	1.5	1400	$1,850	$1.32	43d	1	0.18mi
1501 Saint Christopher Ct Edgewood, MD	4.0	2.0	1224	$2,200	$1.80	12d	1	0.21mi
1703 Fountain Rock Way Unit 1703-B Edgewood, MD	2.0	1.0	882	$1,250	$1.42	23d	1	0.21mi
962 Topview Dr Edgewood, MD	3.0	1.5	1278	$1,700	$1.33	2d	1	0.23mi
700 Saint Peters Ct Edgewood, MD	3.0	1.5	1524	$1,100	$0.72	17d	1	0.25mi
802 Kingston Ct Edgewood, MD	1.0–3.0	1.0–1.5	1007	$1,883	$1.87	1d	15	0.27mi
905 Swallow Crest Ct Unit E Edgewood, MD	2.0	1.0	990	$1,495	$1.51	43d	1	0.32mi
1772 Judy Way Edgewood, MD	3.0	1.5	1040	$2,195	$2.11	43d	1	0.50mi
1523 Charlestown Dr Edgewood, MD	3.0	1.5	1240	$1,595	$1.29	43d	1	0.58mi
1857 Simons Ct Edgewood, MD	3.0	1.5	1240	$1,700	$1.37	43d	1	0.60mi
705 Bayberry Rd Edgewood, MD	3.0	1.5	1657	$2,600	$1.57	17d	1	0.74mi
2120 Cedar Dr Apt F Edgewood, MD	3.0	1.5	1000	$1,295	$1.29	43d	1	1.36mi
2033 Armstrong St Edgewood, MD	1.0–4.0	1.0–2.0	1000	$1,766	$1.77	1d	6	1.41mi
820 Wingsail Ct Joppa, MD	3.0	2.5	1675	$2,000	$1.19	43d	1	1.47mi

HOA detail condo

• Monthly dues: $210 · $2,520/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-06-18
   days on market $114,900 Active 2 DOM
2. 2026-06-17
   remarks 699-char remark
3. 2026-06-17
   listed $114,900 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥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 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,239
• − Mortgage interest: −$6,436
• − Property taxes: −$1,724
• − Insurance: −$574
• − Repairs & maintenance: −$1,779
• − Management: −$1,779
• − HOA: −$2,520
• − Depreciation: −$3,343
• Taxable income: $4,084
• Est. tax owed @ 24.0%: −$980
• After-tax cash flow: $4,540/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This 3BR/1.5BA semi-detached home requires moderate renovations to improve its condition and increase its value. Key areas for improvement include the kitchen, bathroom, and exterior. Upgrades to these areas can significantly boost both resale and rental potential.

Repairs flagged

• Major Exposed brick backsplash in kitchen — Exposed brick is not a standard backsplash and may need replacement
• Major Old appliances in kitchen — Appliances appear outdated and may need replacement
• Major Outdated bathroom fixtures — Fixtures need updating for a more modern look
• Major Dirty and worn tile flooring — Flooring needs cleaning and possibly replacement
• Major Chipped and worn paint — Paint needs touch-up or repainting
• Major Old windows — Windows need replacement for better energy efficiency and appearance

Value-add opportunities

• Both Replace exposed brick backsplash with a modern backsplash — Modern backsplash can improve both resale and rental value
• Both Replace old appliances with modern ones — Modern appliances can improve both resale and rental value
• Both Replace old windows with energy-efficient ones — New windows can improve energy efficiency and curb appeal
• Both Update bathroom fixtures with modern ones — Modern fixtures can improve both resale and rental value
• Both Clean and maintain tile flooring — Clean and maintained flooring can improve both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exposed brick backsplash in kitchen · Exposed brick is not a standard backsplash and may need replacement	Major	$15,000–50,000
Old appliances in kitchen · Appliances appear outdated and may need replacement	Major	$15,000–50,000
Outdated bathroom fixtures · Fixtures need updating for a more modern look	Major	$15,000–50,000
Dirty and worn tile flooring · Flooring needs cleaning and possibly replacement	Major	$15,000–50,000
Chipped and worn paint · Paint needs touch-up or repainting	Major	$15,000–50,000
Old windows · Windows need replacement for better energy efficiency and appearance	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both Replace exposed brick backsplash with a modern backsplash — Modern backsplash can improve both resale and rental value ↑
• Both Replace old appliances with modern ones — Modern appliances can improve both resale and rental value ↑
• Both Replace old windows with energy-efficient ones — New windows can improve energy efficiency and curb appeal ↑
• Both Update bathroom fixtures with modern ones — Modern fixtures can improve both resale and rental value ↑
• Both Clean and maintain tile flooring — Clean and maintained flooring can improve both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Harford County Public Schools
• NCES district ID: 2400390
• Math proficiency: 22% ▼ -23.00%
• Reading proficiency: 39% ▼ -12.00%
• Median HH income: $79,569
• Composite: 29.38/100
• National rank: #6527
• State rank: #9 of 24 in MD

Livability — Edgewood

• Score: 73/100
• State rank: #118
• US rank: #4991

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Edgewood, MD
• County: Harford County · 198,512 people
• City population: 24,960
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 24,960
• Household income: $81,704
• Rent vs Own: 28.9% rent · 71.1% own
• Severe rent burden: 859.0

Population outlook (Harford County) Hauer SSP2

• Today (2025): 262,292 people
• By 2030: 266,437 · +1.6%
• By 2040: 269,954 · +2.9%
• By 2050: 265,659 · +1.3%
• By 2075: 252,886 · -3.6%
• By 2100: 224,014 · -14.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: Black 45% White 36% Two or more races 11% Hispanic / Latino 10% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Romanian 4% Slovak 1% Italian 1%
• Foreign-born: 8% · Canada, South Korea
• Languages at home: 89% English-only · Spanish 5% Russian/Polish/Slavic 2% German/W. Germanic 1%

Political lean MEDSL · Harford

• 2024 margin: R (+13.8) · D 41.9% · R 55.7% · Other 2.4%
• 2008→2024 swing: +5.0pp toward D · 2008: -18.8pp · 2024: -13.8pp
• All cycles: 2024: R+13.8 2020: R+12.0 2016: R+24.5 2012: R+19.5 2008: R+18.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -106.14%
• Current HPI: 254.2305
• Rent YoY: ▲ 4.92%
• 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

1 event — show timeline

• 2026-06-16 Listed $114,900 BRIGHT MLS