4605 Wheeler Rd · Glassmanor, MD 20745

$359,500

4 bd · 2.5 ba · 2,098 sqft · SingleFamily public records · 126 Days on market

Built 1999 0.35 ac lot $171/sqft · 19% below area Est $445k · 19% under

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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 +15.6/30.0
• ARV discount +15.0/15.0
• DSCR +4.8/10.0
• 1% rule +4.3/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Auction. The seller does not represent or guarantee occupancy status. NO viewings of this property. Please DO NOT DISTURB the occupant. Drive by only. Two-story home with attached 1 car garage. 4 bedrooms, 2.1 bathrooms. AS IS, cash only sales with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing. Property sold without contingencies, repairs, warranties, guarantees or representation as to listing accuracy, property information, photo or other depiction included or described herein.

Key facts

• 0.35 acre lot
• Garage
• Built 1999

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $360k.

Deal economics

• At list price, monthly cash flow is $155 ($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 $333k (7.4% below list).
• Recommended offer: $316k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.8% vs local median 4.2% in Glassmanor — 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 67/100 on livability (#221 in MD) — a middle-class / working-renter tenant base. Strengths: housing A+, schools B, employment B; Watch: health & safety C-, crime F, 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.
• Market conditions: Rents soft (-0.8%/yr); 221 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,481 units permitted in Prince George's County in 2024 (0 in 5+ unit buildings).
• At $3,329/mo this rent would consume 53% of the median local household income ($75k/yr) (locally 1770% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Prince George's County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 126 days — a 12% lower offer ($316k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 28y ago; this cycle's ask has dropped $86k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $168k; list at $360k implies a 114% gain — meaningful room to come down on a strong offer.

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 $316,360 (12.0% below list)

Questions for the listing agent

1. It's been on market 126 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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?
6. 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?
7. 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.
8. 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.
9. 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.

Investment metrics

• 1% rule: 0.93% ✗
• Cap rate: 6.81%
• Cash-on-cash: 1.84%
• DSCR: 1.08
• GRM: 9.0

CMA / ARV

• ARV (median comp): $445,362
• List price: $359,500
• Delta: -19.28%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5020 Boydell Ave	0.08mi	4/3.5	2,116 (+1%)	23mo	$530,000	$250	72
4802 Wheeler Rd	0.29mi	4/2.5	1,992 (-5%)	16mo	$320,000	$161	65
5107 Woodland Blvd	0.65mi	4/2.0	2,126 (+1%)	1mo	$450,000	$212	64
4707 Iverson Pl	0.47mi	4/3.0	2,201 (+5%)	4mo	$475,000	$216	64
4810 Iverson Pl	0.52mi	4/3.5	2,184 (+4%)	9mo	$485,000	$222	57
4108 19th Ave	0.50mi	4/3.0	2,140 (+2%)	20mo	$425,000	$199	55
5004 Barnaby Ln	0.61mi	4/2.5	2,114 (+1%)	19mo	$300,000	$142	54
2515 Lime St	0.74mi	5/2.0 (+1)	2,179 (+4%)	5mo	$398,700	$183	47
2006 Chita Ct	0.66mi	3/2.5 (-1)	2,352 (+12%)	1mo	$455,000	$193	43
2101 Sayan Ct	0.67mi	4/3.0	1,802 (-14%)	4mo	$476,000	$264	40
4125 Carozza Ct	0.49mi	4/3.0	2,340 (+12%)	24mo	$376,000	$161	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -16.8%
• Equity multiple: 0.42×
• Total profit: $-58,118
• Equity at exit: $53,603

10-year hold

• IRR: -15.3%
• Equity multiple: 0.25×
• Total profit: $-75,451
• Equity at exit: $31,083

Cash invested: $100,660 (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 20745

• Rents YoY: -0.8%
• Active inventory: 221
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $3,329 high
• Mortgage (P&I): −$1,885
• Tax from tax record: −$441 /mo · $5,286/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$699
• Net cashflow: $155

Break-even live

Break-even rent $3,134

Max offer price $359,500

Occupancy floor 90%

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: $89,875
• Closing costs: $10,785
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2104 Sayan Ct Temple Hills, MD	4.0	2.5	2324	$5,000	$2.15	44d	1	0.70mi
911 Bellevue St SE Washington, DC	4.0	2.0	1820	$3,400	$1.87	24d	1	0.73mi
5123 Boulder Dr Unit 1546376P Oxon Hill, MD	4.0	2.0	1593	$3,586	$2.25	13d	1	0.79mi
1121 Varney St SE Washington, DC	3.0	3.5	1400	$3,000	$2.14	24d	1	0.88mi
4005 Blakney Ln SE Washington, DC	3.0	2.5	2024	$3,000	$1.48	18d	1	0.92mi
5102 Glassmanor Dr Oxon Hill, MD	3.0	2.5	2304	$2,500	$1.09	44d	1	0.92mi
742 Congress St SE Washington, DC	3.0	2.5	1744	$3,000	$1.72	17d	1	1.34mi

Listing history 24 events

1. 2026-06-18
   days on market $359,500 Active 126 DOM
2. 2026-06-17
   days on market $359,500 Active 125 DOM
3. 2026-06-16
   days on market $359,500 Active 124 DOM
4. 2026-06-15
   days on market $359,500 Active 123 DOM
5. 2026-06-13
   days on market $359,500 Active 121 DOM
6. 2026-06-10
   days on market $359,500 Active 117 DOM
7. 2026-06-08
   days on market $359,500 Active 116 DOM
8. 2026-06-07
   pricedays on market $359,500 Active 115 DOM
9. 2026-06-04
   days on market $364,500 Active 112 DOM
10. 2026-06-03
    days on market $364,500 Active 111 DOM
11. 2026-06-02
    days on market $364,500 Active 110 DOM
12. 2026-06-01
    days on market $364,500 Active 109 DOM
13. 2026-05-31
    days on market $364,500 Active 108 DOM
14. 2026-05-18
    price $364,500 550-char remark

    Show marketing remark (550 chars)

    Auction. The seller does not represent or guarantee occupancy status. NO viewings of this property. Please DO NOT DISTURB the occupant. Drive by only. Two-story home with attached 1 car garage. 4 bedrooms, 2.1 bathrooms. AS IS, cash only sales with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing. Property sold without contingencies, repairs, warranties, guarantees or representation as to listing accuracy, property information, photo or other depiction included or described herein.

15. 2026-04-29
    price $369,500 550-char remark

    Show marketing remark (550 chars)

    Auction. The seller does not represent or guarantee occupancy status. NO viewings of this property. Please DO NOT DISTURB the occupant. Drive by only. Two-story home with attached 1 car garage. 4 bedrooms, 2.1 bathrooms. AS IS, cash only sales with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing. Property sold without contingencies, repairs, warranties, guarantees or representation as to listing accuracy, property information, photo or other depiction included or described herein.

16. 2026-04-06
    price $382,200 550-char remark

    Show marketing remark (550 chars)

    Auction. The seller does not represent or guarantee occupancy status. NO viewings of this property. Please DO NOT DISTURB the occupant. Drive by only. Two-story home with attached 1 car garage. 4 bedrooms, 2.1 bathrooms. AS IS, cash only sales with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing. Property sold without contingencies, repairs, warranties, guarantees or representation as to listing accuracy, property information, photo or other depiction included or described herein.

17. 2026-03-19
    price $399,000 550-char remark

    Show marketing remark (550 chars)

    Auction. The seller does not represent or guarantee occupancy status. NO viewings of this property. Please DO NOT DISTURB the occupant. Drive by only. Two-story home with attached 1 car garage. 4 bedrooms, 2.1 bathrooms. AS IS, cash only sales with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing. Property sold without contingencies, repairs, warranties, guarantees or representation as to listing accuracy, property information, photo or other depiction included or described herein.

18. 2026-03-02
    price $419,000 550-char remark

    Show marketing remark (550 chars)

    Auction. The seller does not represent or guarantee occupancy status. NO viewings of this property. Please DO NOT DISTURB the occupant. Drive by only. Two-story home with attached 1 car garage. 4 bedrooms, 2.1 bathrooms. AS IS, cash only sales with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing. Property sold without contingencies, repairs, warranties, guarantees or representation as to listing accuracy, property information, photo or other depiction included or described herein.

19. 2026-02-12
    listed $445,200 Active 550-char remark

    Show marketing remark (550 chars)

    Auction. The seller does not represent or guarantee occupancy status. NO viewings of this property. Please DO NOT DISTURB the occupant. Drive by only. Two-story home with attached 1 car garage. 4 bedrooms, 2.1 bathrooms. AS IS, cash only sales with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing. Property sold without contingencies, repairs, warranties, guarantees or representation as to listing accuracy, property information, photo or other depiction included or described herein.

20. 2000-01-18
    soldstatus $167,900
21. 2000-01-04
    historical
22. 1999-02-23
    listed $167,900
23. 1999-02-03
    historical
24. 1998-08-04
    listed

ⓘ 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: $5,286 · $441/mo
• Projected year-2 tax: $5,286 · $441/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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,952
• − Mortgage interest: −$20,138
• − Property taxes: −$5,286
• − Insurance: −$1,798
• − Repairs & maintenance: −$3,196
• − Management: −$3,196
• − Depreciation: −$10,458
• Taxable loss: −$4,119
• Est. tax savings @ 24.0%: +$989
• After-tax cash flow: $2,844/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: Prince George'S County Public Schools
• NCES district ID: 2400510
• Math proficiency: 8% ▼ -11.00%
• Reading proficiency: 24% ▼ -9.00%
• Median HH income: $73,967
• Composite: 16.82/100
• National rank: #9151
• State rank: #21 of 24 in MD

Livability — Glassmanor

• Score: 67/100
• State rank: #221
• US rank: #11088

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Glassmanor, MD
• County: Prince Georges County · 919,866 people
• Metro: Washington-Arlington-Alexandria, DC-VA-MD-WV
• Population (ZIP): 28,605
• Household income: $75,236
• Rent vs Own: 55.3% rent · 44.7% own
• Severe rent burden: 1770.0

Population outlook (Prince George's County) Hauer SSP2

• Today (2025): 1,005,426 people
• By 2030: 1,048,416 · +4.3%
• By 2040: 1,123,425 · +11.7%
• By 2050: 1,183,220 · +17.7%
• By 2075: 1,306,202 · +29.9%
• By 2100: 1,408,179 · +40.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Black 56% Hispanic / Latino 30% White 6% Two or more races 6% Asian 4% Native American 1%
• Common ancestry: Scotch-Irish 1%
• Foreign-born: 23% · Canada, China, South Korea
• Languages at home: 67% English-only · Spanish 26% Tagalog/Filipino 2% Russian/Polish/Slavic 1%

Political lean MEDSL · Prince George's

• 2024 margin: Solid D (+75.2) · D 86.3% · R 11.2% · Other 2.5%
• 2008→2024 swing: -3.3pp toward R · 2008: 78.5pp · 2024: 75.2pp
• All cycles: 2024: D+75.2 2020: D+80.5 2016: D+81.0 2012: D+80.9 2008: D+78.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -250.85%
• Current HPI: 300.5172
• Rent YoY: ▼ -0.80%
• Metro: Washington-Arlington-Alexandria, DC-VA-MD-WV
• 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

+117.1% since first listed

11 events — show timeline

• 2026-05-18 Price Changed $364,500 BRIGHT MLS
• 2026-04-29 Price Changed $369,500 BRIGHT MLS
• 2026-04-06 Price Changed $382,200 BRIGHT MLS
• 2026-03-19 Price Changed $399,000 BRIGHT MLS
• 2026-03-02 Price Changed $419,000 BRIGHT MLS
• 2026-02-12 Listed $445,200 BRIGHT MLS
• 2000-01-18 Sold (MLS) $167,900 MRIS
• 2000-01-04 Delisted — MRIS
• 1999-02-23 Listed $167,900 MRIS
• 1999-02-03 Delisted — MRIS
• 1998-08-04 Listed — MRIS

Property tax history

+5.6%/yr

Latest (2025): $5,286 · +3.6% YoY. Source: county tax records.