8431-UNIT 101 Greenbelt Rd

Seabrook, MD 20770

$157,500D+

2 bd · 1.0 ba · 1,072 sqft · Built 1968 · Condo · Active · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,240/mo
• Mortgage (P&I): −$826
• Tax + insurance: −$315
• HOA: −$649
• Vac / Maint / Mgmt: −$470
• Net cashflow: $-20/mo
• Annual: $-246/yr
• Cap rate: 6.64%
• Cash-on-cash: 1.25%
• DSCR: 1.06
• 1% rule: 1.42%
• Cash to close: $44,100

Investor read

• This is a 2-bed/1.0-bath condo listed at $158k.
• At list price, monthly cash flow is $-20 ($-246/yr) — negative.
• To cash-flow at today's rent, offer at most $154k (2.3% below list).
• Meets the 1% rule at list price ($2k rent vs $158k).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $154k (2.3% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#162 in MD) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, commute B; Watch: health & safety C-, crime D-, amenities F.
• Prince George'S County Public Schools (suburban): math 8% / reading 24% proficiency, ranked #21 of 24 in MD (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Magnolia Elementary (math 9% / reading 28%, grade F, #393 of 860 statewide, top 46%, 434 students, 77% FRL); Greenbelt Middle (math 11% / reading 32%, grade F, #132 of 225 statewide, top 59%, 1,342 students, 76% FRL); Eleanor Roosevelt High (math 61% / reading 74%, grade B, #48 of 222 statewide, top 22%, 2,526 students, 59% FRL) — zoned schools average 71% FRL vs 53% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 36% at this address vs 16% district-wide (+20 pts) — the actual schools serving this property are materially stronger than the Prince George'S County Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: flood insurance adds $66/mo; HOA is 29% of rent.
• Market conditions: Rents soft (-1.7%/yr); 91 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,481 units permitted in Prince George's County in 2024 (0 in 5+ unit buildings).
• Prince George's County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 5y 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 $135k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.6% vs local median 4.6% in Seabrook — 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

• 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?
• Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?