1505 Flanders Ln Trlr A

Marlboro Meadows, MD 20776

$79,900B-

3 bd · 1.5 ba · 1,600 sqft · Built 1980 · Manufactured · Active · 25 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,597/mo
• Mortgage (P&I): −$419
• Tax + insurance: −$133
• HOA: −$0
• Vac / Maint / Mgmt: −$545
• Net cashflow: $1,500/mo
• Annual: $17,995/yr
• Cap rate: 28.81%
• Cash-on-cash: 80.44%
• DSCR: 4.58
• 1% rule: 3.25%
• Cash to close: $22,372

Investor read

• This is a 3-bed/1.5-bath manufactured listed at $80k. Condition is rated fair.
• At list price, monthly cash flow is $2k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $80k).
• It's been on market 25 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 62/100 on livability (#327 in MD) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: amenities F, commute F, cost of living D-.
• 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: Lothian Elementary (math 11% / reading 19%, grade F, #451 of 860 statewide, top 54%, 485 students, 58% FRL); Southern Middle (math 8% / reading 39%, grade F, #118 of 225 statewide, top 54%, 755 students, 45% FRL); Southern High (math 52% / reading 73%, grade B-, #62 of 222 statewide, top 29%, 1,066 students, 40% FRL) — zoned schools average 48% FRL vs 25% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 12 active listings in the ZIP; 1,303 units permitted in Anne Arundel County in 2024 (299 in 5+ unit buildings).
• 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 + 3.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 28.8% vs local median 9.1% in Marlboro Meadows — 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.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Kitchen cabinets — The cabinets are functional but dated and could be replaced for a fresh look.
• Minor: Bathroom fixtures — The fixtures are functional but dated and could be replaced for a fresh look.
• Minor: Exterior siding — The siding shows some discoloration and wear and could be repainted or replaced.
• Minor: Landscaping — The landscaping is simple and could be improved with some additional plants and shrubs.