1805 Jaybird Ct · Severn, MD 21144

$100,000

3 bd · 1.5 ba · 1,160 sqft · Condo public records · 38 Days on market

Built 1978 $86/sqft · 61% below area $220/mo HOA · 10% 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
• Livability +3.5/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

REAL ESTATE AUCTION ON SITE TUESDAY, JUNE 23, 2026 AT 12:00 PM!! List price is opening bid only. A $15,000 deposit, payable by cashier’s check, will be required of the purchaser at time and place of sale. Estate sale of a townhouse condominium unit in the Spring Meadows Condominium in the Severn area of Anne Arundel County. The three bedroom, one and one-half bath unit is conveniently located near Fort Meade, the BWI Commercial Corridor and major freeways. The home is situated at the back of the neighborhood, providing for less traffic and more privacy. The auction provides buyers an opportunity to purchase the property and renovate to one’s own taste, whether intending to occup

Key facts

• $220 HOA
• Community pool
• Built 1978

Property features AI

Finance

• Other: Ownership interest: Condominium; Ground rent paid annually
• HOA & community: Condo fee $220 per month covering common area maintenance, snow removal, trash, and water; Community amenities include basketball courts, outdoor pool, and playground/tot lots

Exterior

• Parking: Other parking type
• Utilities: Public water; Public sewer; 150 amp electric service
• Home design: Condominium interior townhouse/rowhouse; Building name: Spring Meadows Condo
• Construction: Vinyl siding construction; Estimated year built; Other foundation
• Exterior features: Community outdoor pool; Above-grade and below-grade structures noted; Pets allowed on a case-by-case basis

Interior

• Bedrooms: Three bedrooms on the upper level
• Bathrooms: One full bathroom (upper level); One half bathroom (main level)
• Heating & cooling: Heat pump(s) heating; Central air conditioning; Electric hot water
• Interior features: Walkout basement; Living area reported by assessor
• Laundry & utility: Laundry in the basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $100k.

Deal economics

• At list price, monthly cash flow is $882 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.9% vs local median 4.0% in Severn — 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 70/100 on livability (#175 in MD) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A-; Watch: crime D+, amenities F, commute 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: Meade Heights Elementary (math 8% / reading 22%, grade F, #463 of 860 statewide, top 55%, 371 students, 50% FRL); Macarthur Middle (math 13% / reading 36%, grade F, #108 of 225 statewide, top 50%, 878 students, 53% FRL); Meade High (math 25% / reading 50%, grade F, #138 of 222 statewide, top 63%, 2,330 students, 59% FRL) — zoned schools average 54% FRL vs 25% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.9%/yr); 136 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 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 $691 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $77k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $97,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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 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?
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: 2.28% ✓
• Cap rate: 16.88%
• Cash-on-cash: 37.80%
• DSCR: 2.68
• GRM: 3.7

CMA / ARV

• ARV (median comp): $256,110
• List price: $100,000
• Delta: -60.95%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 29.9%
• Equity multiple: 2.20×
• Total profit: $33,465
• Equity at exit: $14,910

10-year hold

• IRR: 35.2%
• Equity multiple: 3.73×
• Total profit: $76,384
• Equity at exit: $8,646

Cash invested: $28,000 (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 21144

• Rents YoY: -0.9%
• Active inventory: 136
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $2,277 high
• Mortgage (P&I): −$524
• Tax from tax record: −$131 /mo · $1,567/yr
• Insurance: −$42
• HOA: −$220
• Vacancy / Maint / Mgmt: −$478
• Net cashflow: $882

Break-even live

Break-even rent $1,160

Max offer price $100,000

Occupancy floor 56%

Sensitivity live

Price	-10% $938	-5% $910	+0% $882	+5% $854	+10% $825
Rent	-10% $702	-5% $792	+0% $882	+5% $972	+10% $1,062
Rate	-1.0pp $932	-0.5pp $907	base $882	+0.5pp $856	+1.0pp $830

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8595 Pioneer Dr Severn, MD	3.0	1.0	1068	$1,950	$1.83	45d	1	0.23mi
8567 Pioneer Dr Severn, MD	3.0	1.0	1068	$2,050	$1.92	45d	1	0.26mi
1833 Richfield Dr Severn, MD	3.0	1.0	1125	$1,808	$1.61	0d	8	0.33mi
8429 Pioneer Dr Severn, MD	3.0	2.0	1068	$2,150	$2.01	45d	1	0.35mi
8401 Pioneer Dr Severn, MD	3.0	1.5	1068	$1,895	$1.77	0d	1	0.36mi
1839 Arwell Ct Severn, MD	3.0	1.0	1054	$2,500	$2.37	25d	1	0.39mi
1807 Arwell Ct Severn, MD	3.0	1.0	1068	$1,900	$1.78	16d	1	0.41mi
8317 Severn Orchard Cir Severn, MD	1.0–3.0	1.0	897	$2,024	$2.26	0d	81	0.51mi
2005 Town Center Blvd Odenton, MD	1.0–2.0	1.0–2.0	848	$3,075	$3.63	0d	18	0.89mi
315 Eagles Landing Ct Odenton, MD	2.0	2.0	1156	$2,250	$1.95	45d	1	0.95mi
7918 Sage Way Severn, MD	2.0	1.0	900	$1,950	$2.17	45d	1	1.00mi
300 Gatehouse Ln Odenton, MD	1.0–3.0	1.0–3.0	1045	$2,699	$2.58	0d	46	1.02mi
2027 Odens Station Ln Odenton, MD	1.0–3.0	1.0–2.0	1035	$3,015	$2.91	0d	51	1.10mi
110 Burns Crossing Rd Severn, MD	4.0	2.0	1284	$2,950	$2.30	15d	1	1.20mi
8001 Laketowne Ct Severn, MD	2.0–3.0	1.0–1.5	1014	$2,694	$2.66	0d	19	1.31mi
8313 Telegraph Rd Odenton, MD	1.0–2.0	1.0–2.0	995	$2,798	$2.81	0d	15	1.48mi

HOA detail condo

• Monthly dues: $220 · $2,640/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-21
   days on market $100,000 Active 38 DOM
2. 2026-06-18
   days on market $100,000 Active 35 DOM
3. 2026-06-17
   days on market $100,000 Active 34 DOM
4. 2026-06-16
   days on market $100,000 Active 33 DOM
5. 2026-06-15
   days on market $100,000 Active 32 DOM
6. 2026-06-13
   days on market $100,000 Active 30 DOM
7. 2026-06-09
   days on market $100,000 Active 26 DOM
8. 2026-06-08
   days on market $100,000 Active 25 DOM
9. 2026-06-07
   days on market $100,000 Active 24 DOM
10. 2026-06-04
    days on market $100,000 Active 21 DOM
11. 2026-06-03
    days on market $100,000 Active 20 DOM
12. 2026-06-02
    days on market $100,000 Active 19 DOM
13. 2026-06-01
    days on market $100,000 Active 18 DOM
14. 2026-05-31
    days on market $100,000 Active 17 DOM
15. 2026-05-14
    listed $100,000 Active 772-char remark
16. 1994-07-28
    soldstatus $77,000
17. 1989-04-17
    soldstatus $68,500

ⓘ 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: $1,567 · $131/mo
• Projected year-2 tax: $1,567 · $131/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 2/10 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 4 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,320
• − Mortgage interest: −$5,602
• − Property taxes: −$1,567
• − Insurance: −$500
• − Repairs & maintenance: −$2,186
• − Management: −$2,186
• − HOA: −$2,640
• − Depreciation: −$2,909
• Taxable income: $9,731
• Est. tax owed @ 24.0%: −$2,335
• After-tax cash flow: $8,247/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 — Severn

• Score: 70/100
• State rank: #175
• US rank: #7833

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Severn, MD
• County: Anne Arundel County · 535,653 people
• City population: 37,118
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 37,118
• Household income: $136,684
• Rent vs Own: 19.7% rent · 80.3% own
• Severe rent burden: 550.0

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: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 43% Black 32% Hispanic / Latino 11% Two or more races 10% Asian 7%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 2% Lithuanian 2% Italian 1%
• Foreign-born: 15% · Canada, South Korea, Jamaica
• Languages at home: 80% English-only · Spanish 7% Other Indo-European 2% French/Haitian/Cajun 1%

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: ▼ -275.16%
• Current HPI: 271.5527
• Rent YoY: ▼ -0.93%
• 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

+46.0% since first listed

3 events — show timeline

• 2026-05-14 Listed $100,000 BRIGHT MLS
• 1994-07-28 Sold (Public Records) $77,000 Public Records
• 1989-04-17 Sold (Public Records) $68,500 Public Records

Property tax history

+4.1%/yr

Latest (2025): $1,567 · +3.3% YoY. Source: county tax records.