11906-H Tarragon Rd Unit H · Reisterstown, MD 21136

$112,000

1 bd · 1.0 ba · 746 sqft · Condo public records · 31 Days on market

Built 1978 $239/mo HOA · 19% of rent ↓ 10% since listing

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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 +13.1/30.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Rent growth +4.2/5.0
• DSCR +3.9/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Location, Location, Location! Mid level Condo close to 795 & Franklin Blvd. . Convenient to Owings Mills, Reisterstown & 695. A multitude of shopping, entertainment and restaurants. Clean turn-key unit selling ready to move in!!

Key facts

• Paved walking loop
• New hvac
• New refrigerator

Tags

• STORAGE UNIT
• PAVED WALKING LOOP
• NEW REFRIGERATOR
• NEW HVAC

Property features AI

Finance

• Other: Not in a federal flood zone; Property condition listed as very good; Ownership interest: condominium; Estimated year built; Finished above-grade area 746
• Financial info: Other one-time fee of $414
• HOA & community: Monthly condo fee of $239.19; HOA covers snow removal, exterior building maintenance, common area maintenance, lawn maintenance, management, and water; Amenities include laundry facilities and extra storage

Exterior

• Parking: Parking lot
• Utilities: Public water; Public sewer; Electric cooling fuel; Natural gas hot water
• Home design: Condominium unit (Garden style building, 1–4 floors); Unit/flat; Entry on level 2; Outside city limits
• Construction: Brick construction; Asphalt roof; Pets allowed on a case-by-case basis
• Exterior features: Common grounds; Extra storage; Above grade other structures

Interior

• Kitchen: Dishwasher; Gas range/oven; Refrigerator
• Bedrooms: One bedroom on main level
• Bathrooms: One full bathroom on main level; One full bathroom (total)
• Heating & cooling: 90% forced air heat; Natural gas heating; Central air conditioning (electric)
• Interior features: Living room; Dining room; Foyer
• Laundry & utility: Common/shared laundry facilities (no washer/dryer in unit)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $112k.

Deal economics

• At list price, monthly cash flow is $-5 ($-56/yr) — negative.
• To cash-flow at today's rent, offer at most $111k (0.7% below list).
• Meets the 1% rule at list price ($1k rent vs $112k).
• Recommended offer: $109k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.2% vs local median 3.6% in Reisterstown — 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 72/100 on livability (#147 in MD) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, employment A-; Watch: crime F, amenities F, health & safety F.
• Baltimore County Public Schools (suburban): math 15% / reading 34% proficiency, ranked #11 of 24 in MD (top 46%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Cedarmere Elementary (math 16% / reading 23%, grade F, #353 of 860 statewide, top 45%, 549 students, 61% FRL); Franklin Middle (math 7% / reading 36%, grade F, #132 of 225 statewide, top 59%, 1,153 students, 62% FRL); Franklin High (math 25% / reading 66%, grade D-, #121 of 222 statewide, top 55%, 1,504 students, 53% FRL) — zoned schools average 59% FRL vs 39% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.7%/yr); 150 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,511 units permitted in Baltimore County in 2024 (643 in 5+ unit buildings).
• This rent is only 13% of the median local income ($118k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $774 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Baltimore County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 19y 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.
• Current owner paid $95k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $108,640 (3.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.14% ✓
• Cap rate: 6.24%
• Cash-on-cash: -0.18%
• DSCR: 0.99
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.73% rent growth · sell at horizon

5-year hold

• IRR: -11.2%
• Equity multiple: 0.58×
• Total profit: $-13,304
• Equity at exit: $16,700

10-year hold

• IRR: 3.9%
• Equity multiple: 1.34×
• Total profit: $10,760
• Equity at exit: $9,684

Cash invested: $31,360 (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 21136

• Rents YoY: 6.7%
• Active inventory: 150
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,278 high
• Mortgage (P&I): −$587
• Tax from tax record: −$141 /mo · $1,695/yr
• Insurance: −$47
• HOA: −$239
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $-5

Break-even live

Break-even rent $1,284

Max offer price $111,174

Occupancy floor 95%

Sensitivity live

Price	-10% $59	-5% $27	+0% $-5	+5% $-36	+10% $-68
Rent	-10% $-106	-5% $-55	+0% $-5	+5% $46	+10% $96
Rate	-1.0pp $52	-0.5pp $24	base $-5	+0.5pp $-34	+1.0pp $-63

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: $28,000
• Closing costs: $3,360
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11908 Tarragon Rd Unit I-1 Reisterstown, MD	1.0	1.0	745	$1,300	$1.74	22d	1	0.02mi
11913 Tarragon Rd Unit L Reisterstown, MD	1.0	1.0	656	$1,400	$2.13	0d	1	0.08mi
12001 Tarragon Rd Unit L Reisterstown, MD	1.0	1.0	663	$1,200	$1.81	25d	1	0.12mi
215 Caraway Rd Reisterstown, MD	1.0–3.0	1.0–2.0	835	$1,295	$1.55	5d	14	0.16mi
322 Main St Unit 1R Reisterstown, MD	1.0	1.0	550	$1,200	$2.18	45d	1	1.27mi
13 Richmar Rd Owings Mills, MD	1.0–2.0	1.0–2.0	779	$1,369	$1.76	5d	26	1.43mi

HOA detail condo

• Monthly dues: $239 · $2,868/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 31 events

1. 2026-06-21
   days on market $112,000 Active 31 DOM
2. 2026-06-18
   days on market $112,000 Active 28 DOM
3. 2026-06-17
   days on market $112,000 Active 27 DOM
4. 2026-06-16
   days on market $112,000 Active 26 DOM
5. 2026-06-15
   days on market $112,000 Active 25 DOM
6. 2026-06-13
   days on market $112,000 Active 23 DOM
7. 2026-06-09
   days on market $112,000 Active 19 DOM
8. 2026-06-08
   days on market $112,000 Active 18 DOM
9. 2026-06-07
   days on market $112,000 Active 17 DOM
10. 2026-06-04
    days on market $112,000 Active 14 DOM
11. 2026-06-03
    days on market $112,000 Active 13 DOM
12. 2026-06-02
    days on market $112,000 Active 12 DOM
13. 2026-06-01
    days on market $112,000 Active 11 DOM
14. 2026-05-31
    days on market $112,000 Active 10 DOM
15. 2026-05-21
    listed $112,000 Active
16. 2022-06-01
    soldstatus $95,000
17. 2012-08-10
    historical 240-char remark

    Show marketing remark (240 chars)

    Location, Location, Location! Mid level Condo close to 795 & Franklin Blvd. . Convenient to Owings Mills, Reisterstown & 695. A multitude of shopping, entertainment and restaurants. Clean turn-key unit selling ready to move in!!

18. 2012-08-10
    soldstatus $37,000 Sold 240-char remark

    Show marketing remark (240 chars)

    Location, Location, Location! Mid level Condo close to 795 & Franklin Blvd. . Convenient to Owings Mills, Reisterstown & 695. A multitude of shopping, entertainment and restaurants. Clean turn-key unit selling ready to move in!!

19. 2012-08-10
    soldstatus $37,000 240-char remark

    Show marketing remark (240 chars)

    Location, Location, Location! Mid level Condo close to 795 & Franklin Blvd. . Convenient to Owings Mills, Reisterstown & 695. A multitude of shopping, entertainment and restaurants. Clean turn-key unit selling ready to move in!!

20. 2012-05-16
    status Contract 240-char remark

    Show marketing remark (240 chars)

    Location, Location, Location! Mid level Condo close to 795 & Franklin Blvd. . Convenient to Owings Mills, Reisterstown & 695. A multitude of shopping, entertainment and restaurants. Clean turn-key unit selling ready to move in!!

21. 2012-05-16
    historical 240-char remark

    Show marketing remark (240 chars)

    Location, Location, Location! Mid level Condo close to 795 & Franklin Blvd. . Convenient to Owings Mills, Reisterstown & 695. A multitude of shopping, entertainment and restaurants. Clean turn-key unit selling ready to move in!!

22. 2012-05-08
    listed $37,000 Active 240-char remark

    Show marketing remark (240 chars)

    Location, Location, Location! Mid level Condo close to 795 & Franklin Blvd. . Convenient to Owings Mills, Reisterstown & 695. A multitude of shopping, entertainment and restaurants. Clean turn-key unit selling ready to move in!!

23. 2012-05-08
    listed $37,000 240-char remark

    Show marketing remark (240 chars)

    Location, Location, Location! Mid level Condo close to 795 & Franklin Blvd. . Convenient to Owings Mills, Reisterstown & 695. A multitude of shopping, entertainment and restaurants. Clean turn-key unit selling ready to move in!!

24. 2008-11-05
    soldstatus $105,000
25. 2008-10-22
    soldstatus $105,000 Sold
26. 2008-09-17
    historical
27. 2008-09-12
    status
28. 2008-08-16
    historical
29. 2008-07-14
    price $105,000
30. 2007-10-20
    price $114,900
31. 2007-05-10
    listed $124,900

ⓘ 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: $1,695 · $141/mo
• Projected year-2 tax: $1,695 · $141/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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 14% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,336
• − Mortgage interest: −$6,274
• − Property taxes: −$1,695
• − Insurance: −$560
• − Repairs & maintenance: −$1,227
• − Management: −$1,227
• − HOA: −$2,868
• − Depreciation: −$3,258
• Taxable loss: −$1,773
• Est. tax savings @ 24.0%: +$426
• After-tax cash flow: $369/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 County Public Schools
• NCES district ID: 2400120
• Math proficiency: 15% ▼ -16.00%
• Reading proficiency: 34% ▼ -5.00%
• Median HH income: $66,746
• Composite: 23.17/100
• National rank: #7948
• State rank: #11 of 24 in MD

Livability — Reisterstown

• Score: 72/100
• State rank: #147
• US rank: #6349

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Reisterstown, MD
• County: Baltimore County · 769,527 people
• City population: 32,088
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 32,088
• Household income: $118,500
• Rent vs Own: 20.6% rent · 79.4% own
• Severe rent burden: 1003.0

Population outlook (Baltimore County) Hauer SSP2

• Today (2025): 885,518 people
• By 2030: 909,272 · +2.7%
• By 2040: 951,547 · +7.5%
• By 2050: 990,955 · +11.9%
• By 2075: 1,086,411 · +22.7%
• By 2100: 1,135,078 · +28.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 55% Black 25% Asian 8% Hispanic / Latino 7% Two or more races 5%
• Common ancestry: Romanian 3% Italian 3% Scotch-Irish 2%
• Foreign-born: 17% · Canada, China, Vietnam
• Languages at home: 81% English-only · Other Indo-European 6% Russian/Polish/Slavic 4% Spanish 3%

Political lean MEDSL · Baltimore

• 2024 margin: Strong D (+24.5) · D 61.0% · R 36.5% · Other 2.5%
• 2008→2024 swing: +9.9pp toward D · 2008: 14.6pp · 2024: 24.5pp
• All cycles: 2024: D+24.5 2020: D+27.0 2016: D+17.4 2012: D+16.4 2008: D+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -289.71%
• Current HPI: 240.465
• Rent YoY: ▲ 6.73%
• 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

-10.3% since first listed

17 events — show timeline

• 2026-05-21 Listed $112,000 BRIGHT MLS
• 2022-06-01 Sold (Public Records) $95,000 Public Records
• 2012-08-10 Delisted — MRIS
• 2012-08-10 Sold (MLS) $37,000 BRIGHT MLS
• 2012-08-10 Sold (MLS) $37,000 MRIS
• 2012-05-16 Pending — MRIS
• 2012-05-16 Listing Removed — BRIGHT MLS
• 2012-05-08 Listed $37,000 MRIS
• 2012-05-08 Listed $37,000 BRIGHT MLS
• 2008-11-05 Sold (Public Records) $105,000 Public Records
• 2008-10-22 Sold (MLS) $105,000 MRIS
• 2008-09-17 Delisted — MRIS
• 2008-09-12 Relisted — MRIS
• 2008-08-16 Delisted — MRIS
• 2008-07-14 Price Changed $105,000 MRIS
• 2007-10-20 Price Changed $114,900 MRIS
• 2007-05-10 Listed $124,900 MRIS

Property tax history

+0.6%/yr

Latest (2025): $1,695 · +14.0% YoY. Source: county tax records.