1915 Old Taneytown Rd

Westminster, MD 21158

$275,000C-

3 bd · 1.0 ba · 1,800 sqft · Built 1800 · SingleFamily · Active · 96 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,418/mo
• Mortgage (P&I): −$1,442
• Tax + insurance: −$267
• HOA: −$0
• Vac / Maint / Mgmt: −$508
• Net cashflow: $201/mo
• Annual: $2,417/yr
• Cap rate: 7.17%
• Cash-on-cash: 3.14%
• DSCR: 1.14
• 1% rule: 0.88%
• Cash to close: $77,000

Investor read

• This is a 3-bed/1.0-bath single-family listed at $275k.
• At list price, monthly cash flow is $201 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $242k (12.1% below list).
• It's been on market 96 days — a 9% lower offer ($250k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $242k (12.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#176 in MD) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+; Watch: schools C-, amenities C-, commute F.
• Carroll County Public Schools (suburban): math 32% / reading 47% proficiency, ranked #2 of 24 in MD (top 8%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 16% free/reduced lunch — higher-income household profile.
• Watch-outs: built in 1800 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 76 active listings in the ZIP; solid renter incomes; 156 units permitted in Carroll County in 2024 (12 in 5+ unit buildings).
• Carroll County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts; this cycle's ask has dropped $75k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $125k; list at $275k implies a 120% gain — meaningful room to come down on a strong offer.
• 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.
• Cap rate 7.2% vs local median 2.5% in Westminster — 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

• It's been on market 96 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1800 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.