806 Leswood Ct · Dundalk, MD 21222

$72,500

2 bd · 1.0 ba · 924 sqft · Manufactured · 230 Days on market

Built 1993 $78/sqft · 14% below area Est $84k · 14% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +13.9/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Updates are Complete in this 2 BR / 1 FB Home- New Kitchen, New Bath, New Floors, New Stainless Appliances-New Granite Countertops- New Lighting and Fresh Paint-Open Dining and Living Areas-- Great Location Near Shopping, Dining, Schools and Commuter Interstates. Water Access is Available at Local Marinas and Parks. Residents Must Be Approved By Community Management. Present Lot Rent is $795.00

Key facts

• New floors
• New lighting
• New bath

Tags

• NEW KITCHEN
• NEW BATH
• NEW FLOORS
• NEW STAINLESS APPLIANCES
• NEW GRANITE COUNTERTOPS
• NEW LIGHTING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $72k.

Deal economics

• At list price, monthly cash flow is $915 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $72k).
• Recommended offer: $64k (12.0% below list) — sets the bar for market timing.
• Cap rate 21.4% vs local median 6.2% in Dundalk — 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 85/100 on livability (#16 in MD, #510 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime 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.
• Market conditions: Rents soft (-0.1%/yr); 236 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 1,511 units permitted in Baltimore County in 2024 (643 in 5+ unit buildings).
• This rent runs 34% of the median local income ($64k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $501 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 230 days — a 12% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 32y ago; this cycle's ask has dropped $7k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $21k; list at $72k implies a 245% gain — meaningful room to come down on a strong offer.

Recommended offer $63,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 230 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 A-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. 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.
7. 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.
8. 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: 2.47% ✓
• Cap rate: 21.44%
• Cash-on-cash: 54.08%
• DSCR: 3.41
• GRM: 3.4

CMA / ARV

• ARV (median comp): $84,444
• List price: $72,500
• Delta: -10.59%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 48.8%
• Equity multiple: 3.03×
• Total profit: $41,296
• Equity at exit: $10,810

10-year hold

• IRR: 53.1%
• Equity multiple: 5.47×
• Total profit: $90,803
• Equity at exit: $6,268

Cash invested: $20,300 (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 21222

• Rents YoY: -0.1%
• Active inventory: 236
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,792 high
• Mortgage (P&I): −$380
• Tax est. 1.5%: −$91 /mo · $1,088/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $915

Break-even live

Break-even rent $634

Max offer price $72,500

Occupancy floor 44%

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: $18,125
• Closing costs: $2,175
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4004 Saint Monica Dr Dundalk, MD	3.0	1.0	1024	$1,925	$1.88	5d	1	0.84mi
4004 St Monica Dr Unit 1 Dundalk, MD	3.0	1.0	1024	$1,895	$1.85	5d	1	0.84mi
7860 Saint Claire Ln Dundalk, MD	3.0	2.0	1024	$2,200	$2.15	5d	1	0.85mi
3427 North Point Rd Dundalk, MD	3.0	1.0	1008	$2,250	$2.23	20d	1	0.87mi
7851 Saint Fabian Ln Dundalk, MD	3.0	1.0	1024	$1,595	$1.56	43d	1	0.89mi
3413 Wallford Dr Dundalk, MD	3.0	2.0	1016	$2,000	$1.97	43d	1	0.90mi
3221 Wallford Dr Unit 3221 Dundalk, MD	3.0	1.0	1008	$1,750	$1.74	5d	1	1.06mi
3221 Wallford Dr Dundalk, MD	3.0	1.0	1008	$1,750	$1.74	3d	1	1.06mi
1610 Melbourne Rd Dundalk, MD	1.0–2.0	1.0	664	$1,240	$1.87	12d	1	1.19mi
3000 Wallford Dr Dundalk, MD	1.0–2.0	1.0	717	$1,330	$1.85	2d	35	1.31mi
909 S Marlyn Ave Essex, MD	2.0–3.0	1.0–1.5	888	$1,375	$1.55	5d	1	1.34mi
311 Wise Ave Dundalk, MD	1.0	1.0	818	$1,045	$1.28	43d	1	1.35mi
11 Seabright Ave Dundalk, MD	3.0	1.0	948	$1,874	$1.98	14d	1	1.40mi
7 Robinson Ave Dundalk, MD	3.0	2.0	1100	$2,600	$2.36	43d	1	1.46mi

Listing history 36 events

1. 2026-06-18
   price $72,500 Active 230 DOM
2. 2026-06-18
   days on market $75,500 Active 230 DOM
3. 2026-06-17
   remarks 412-char remark
4. 2026-06-17
   days on market $75,500 Active 229 DOM
5. 2026-06-16
   days on market $75,500 Active 228 DOM
6. 2026-06-15
   days on market $75,500 Active 227 DOM
7. 2026-06-13
   days on market $75,500 Active 225 DOM
8. 2026-06-09
   days on market $75,500 Active 221 DOM
9. 2026-06-08
   days on market $75,500 Active 220 DOM
10. 2026-06-07
    days on market $75,500 Active 219 DOM
11. 2026-06-04
    days on market $75,500 Active 216 DOM
12. 2026-06-03
    days on market $75,500 Active 215 DOM
13. 2026-06-02
    days on market $75,500 Active 214 DOM
14. 2026-06-01
    days on market $75,500 Active 213 DOM
15. 2026-05-31
    days on market $75,500 Active 212 DOM
16. 2026-05-13
    price $75,500 399-char remark

    Show marketing remark (399 chars)

    Updates are Complete in this 2 BR / 1 FB Home- New Kitchen, New Bath, New Floors, New Stainless Appliances-New Granite Countertops- New Lighting and Fresh Paint-Open Dining and Living Areas-- Great Location Near Shopping, Dining, Schools and Commuter Interstates. Water Access is Available at Local Marinas and Parks. Residents Must Be Approved By Community Management. Present Lot Rent is $795.00

17. 2025-10-31
    listed $79,500 Active 399-char remark

    Show marketing remark (399 chars)

    Updates are Complete in this 2 BR / 1 FB Home- New Kitchen, New Bath, New Floors, New Stainless Appliances-New Granite Countertops- New Lighting and Fresh Paint-Open Dining and Living Areas-- Great Location Near Shopping, Dining, Schools and Commuter Interstates. Water Access is Available at Local Marinas and Parks. Residents Must Be Approved By Community Management. Present Lot Rent is $795.00

18. 2014-10-27
    historical
19. 2014-10-27
    historical Withdrawn
20. 2014-08-01
    historical Withdrawn
21. 2014-08-01
    historical
22. 2014-06-12
    listed Active
23. 2014-06-12
    listed $32,500
24. 2014-06-05
    price
25. 2014-05-06
    price
26. 2014-04-29
    listed Active
27. 2014-04-29
    listed $19,500
28. 2010-12-07
    historical
29. 2010-12-07
    historical Expired
30. 2010-07-23
    listed Active
31. 2010-07-22
    listed $23,500
32. 2002-03-04
    soldstatus $21,000
33. 2002-02-08
    historical
34. 2001-09-05
    listed $25,900
35. 1994-10-07
    historical
36. 1994-04-07
    listed

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $21,508
• − Mortgage interest: −$4,061
• − Property taxes: −$1,088
• − Insurance: −$362
• − Repairs & maintenance: −$1,721
• − Management: −$1,721
• − Depreciation: −$2,109
• Taxable income: $10,446
• Est. tax owed @ 24.0%: −$2,507
• After-tax cash flow: $8,472/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 — Dundalk

• Score: 85/100
• State rank: #16
• US rank: #510

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dundalk, MD
• County: Baltimore County · 769,527 people
• City population: 59,407
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 59,407
• Household income: $64,141
• Rent vs Own: 35.1% rent · 64.9% own
• Severe rent burden: 2566.0

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 0.60)
• Race & ethnicity: White 59% Black 18% Hispanic / Latino 15% Two or more races 7% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Romanian 7% Lithuanian 1% Italian 1%
• Foreign-born: 9% · Canada
• Languages at home: 85% English-only · Spanish 11% Other Indo-European 2% Arabic 1%

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: ▼ -251.44%
• Current HPI: 228.4218
• Rent YoY: ▼ -0.09%
• 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

+191.5% since first listed

21 events — show timeline

• 2026-05-13 Price Changed $75,500 BRIGHT MLS
• 2025-10-31 Listed $79,500 BRIGHT MLS
• 2014-10-27 Delisted — MRIS
• 2014-10-27 Listing Removed — BRIGHT MLS
• 2014-08-01 Delisted — MRIS
• 2014-08-01 Listing Removed — BRIGHT MLS
• 2014-06-12 Listed — MRIS
• 2014-06-12 Listed $32,500 BRIGHT MLS
• 2014-06-05 Price Changed — MRIS
• 2014-05-06 Price Changed — MRIS
• 2014-04-29 Listed — MRIS
• 2014-04-29 Listed $19,500 BRIGHT MLS
• 2010-12-07 Listing Removed — BRIGHT MLS
• 2010-12-07 Delisted — MRIS
• 2010-07-23 Listed — MRIS
• 2010-07-22 Listed $23,500 BRIGHT MLS
• 2002-03-04 Sold (MLS) $21,000 MRIS
• 2002-02-08 Delisted — MRIS
• 2001-09-05 Listed $25,900 MRIS
• 1994-10-07 Delisted — MRIS
• 1994-04-07 Listed — MRIS