6700 Rapid Water Way #101 · Glen Burnie, MD 21060

$100,000

2 bd · 2.0 ba · 851 sqft · Condo public records · 3 Days on market

Built 1999 $118/sqft · 54% below area $335/mo HOA · 18% of rent

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Rent growth +3.4/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

REAL ESTATE AUCTION featuring ON SITE and SIMULCAST ONLINE BIDDING!! Online Bidding Opens - Monday, July 6, 2026. Live On Site Auction - Tuesday, July 7, 2026 at 1:00 PM. List price is opening bid only. Remainderman’s (heir’s) sale of a two bedroom and two bath garden apartment style condominium unit in the Cromwell Fountain community in Glen Burnie. The well located unit was constructed in 1999, and sits proximate to many of the area’s most significant commuter routes and employment centers. Ample retail and dining options are also in close proximity. The auction provides an opportunity to purchase and refresh a well proportioned condominium unit in a well demanded locati

Key facts

• $335 HOA
• Community pool
• Built 1999

Property features AI

Finance

• HOA & community: Condo fee of $335 monthly; HOA covers common area maintenance, custodial services, exterior building maintenance, lawn maintenance, management, recreation facility, reserve funds, road maintenance, and snow removal; Community amenities include outdoor pool, common grounds, and playground

Exterior

• Parking: Parking lot
• Utilities: Public water; Public sewer; Electric service
• Home design: Condominium unit (Unit/Flat); Garden-style building (1–4 floors); Entry on floor 1
• Construction: Combination construction materials; Above grade and below grade structures
• Exterior features: Enclosed patio; Community pool; Common grounds; Tot lot / playground; Pets allowed on a case-by-case basis

Interior

• Kitchen: Galley kitchen layout
• Bedrooms: Two bedrooms on the main level
• Flooring: Luxury vinyl plank flooring
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Heat pump(s) heating; Central air conditioning; Electric heating and cooling; Electric hot water
• Interior features: Combination dining and living area; Entry-level bedroom; Galley kitchen; One fireplace
• Laundry & utility: Washer/dryer hook-up in unit

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $100k.

Deal economics

• At list price, monthly cash flow is $475 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Cap rate 12.0% vs local median 4.4% in Glen Burnie — 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 72/100 on livability (#135 in MD) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, housing A+; Watch: cost of living C-, crime F, amenities F.
• 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: Hilltop Elementary (math 6% / reading 8%, grade F, #726 of 860 statewide, top 86%, 535 students, 83% FRL); Lindale Middle (math 9% / reading 35%, grade F, #125 of 225 statewide, top 58%, 1,178 students, 59% FRL); North County High (math 33% / reading 58%, grade D-, #121 of 222 statewide, top 55%, 2,451 students, 63% FRL) — zoned schools average 68% FRL vs 25% district-wide (43 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.4%/yr); 164 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,303 units permitted in Anne Arundel County in 2024 (299 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• 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 + 3.4% rent growth), your $28k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $76k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $100,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.88% ✓
• Cap rate: 11.99%
• Cash-on-cash: 20.35%
• DSCR: 1.91
• GRM: 4.4

CMA / ARV

• ARV (median comp): $215,527
• List price: $100,000
• Delta: -7.20%
• Verdict: FAIR
• Comps: 9 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.44% rent growth · sell at horizon

5-year hold

• IRR: 13.4%
• Equity multiple: 1.54×
• Total profit: $15,093
• Equity at exit: $14,910

10-year hold

• IRR: 22.8%
• Equity multiple: 3.02×
• Total profit: $56,440
• Equity at exit: $8,646

Cash invested: $28,000 (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 21060

• Rents YoY: 3.4%
• Active inventory: 164
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,876 high
• Mortgage (P&I): −$524
• Tax from tax record: −$106 /mo · $1,272/yr
• Insurance: −$42
• HOA: −$335
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $475

Break-even live

Break-even rent $1,275

Max offer price $100,000

Occupancy floor 70%

Sensitivity live

Price	-10% $531	-5% $503	+0% $475	+5% $447	+10% $418
Rent	-10% $327	-5% $401	+0% $475	+5% $549	+10% $623
Rate	-1.0pp $525	-0.5pp $500	base $475	+0.5pp $449	+1.0pp $423

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6609 Rapid Water Way #303 Glen Burnie, MD	2.0	2.0	988	$1,895	$1.92	5d	1	0.07mi
206 Spring Maiden Ct #302 Glen Burnie, MD	3.0	2.0	1044	$2,000	$1.92	24d	1	0.10mi
200 Spring Maiden Ct #101 Glen Burnie, MD	2.0	2.0	853	$1,850	$2.17	3d	1	0.13mi
101 S Charter Rd Glen Burnie, MD	1.0–3.0	1.0–2.0	823	$1,598	$1.94	44d	1	0.64mi
116-B Warwickshire Ln Glen Burnie, MD	1.0–3.0	1.0–1.5	800	$1,458	$1.82	2d	43	0.67mi
57 Glen Ridge Rd Glen Burnie, MD	1.0–2.0	1.0	806	$1,700	$2.11	3d	27	0.84mi
140 Bethlehem Pl Brooklyn, MD	3.0	3.5	1120	$1,500	$1.34	44d	1	0.94mi
6001 Heritage Hill Dr Glen Burnie, MD	2.0–3.0	1.5–2.5	1012	$1,837	$1.81	2d	22	1.00mi
6459 Grafton Garth Ct Glen Burnie, MD	2.0	2.0	1116	$1,900	$1.70	22d	1	1.15mi
156 Hammarlee Rd Glen Burnie, MD	2.0	1.0	800	$1,739	$2.17	44d	1	1.27mi
156 Hammarlee Rd Glen Burnie, MD	1.0–2.0	1.0	725	$1,899	$2.62	3d	8	1.27mi
90 Hammonds Ln Brooklyn Park, MD	1.0–2.0	1.0–2.0	757	$1,964	$2.59	2d	4	1.48mi

HOA detail condo

• Monthly dues: $335 · $4,020/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-18
   days on market $100,000 Active 3 DOM
2. 2026-06-17
   days on market $100,000 Active 2 DOM
3. 2026-06-15
   statusdays on market $100,000 Active 1 DOM
4. 2026-06-15
   days on market $100,000 Coming Soon 7 DOM
5. 2026-06-13
   days on market $100,000 Coming Soon 5 DOM
6. 2026-06-08
   remarks 681-char remark
7. 2026-06-08
   pricestatusdays on marketlisting id $100,000 Coming Soon 1 DOM
8. 2026-06-01
   days on market $200,000 Active 166 DOM
9. 2026-05-31
   days on market $200,000 Active 165 DOM
10. 2026-05-05
    price $200,000 460-char remark
11. 2026-04-20
    price $209,000 460-char remark
12. 2026-04-03
    price $220,000 460-char remark
13. 2026-03-19
    price $225,000 460-char remark
14. 2026-02-18
    price $230,000 460-char remark
15. 2026-01-14
    price $240,000 460-char remark
16. 2025-12-17
    listed $249,900 Active 460-char remark
17. 1997-09-02
    soldstatus $75,600
18. 1997-02-24
    soldstatus $79,900
19. 1990-11-13
    soldstatus $79,500
20. 1989-10-02
    soldstatus $71,900
21. 1989-09-13
    soldstatus $73,900
22. 1989-08-08
    soldstatus $69,900
23. 1989-08-08
    soldstatus $76,200
24. 1989-08-08
    soldstatus $76,900
25. 1989-06-29
    soldstatus $81,015
26. 1989-06-13
    soldstatus $76,900
27. 1989-05-25
    soldstatus $78,905
28. 1989-05-15
    soldstatus $80,135

ⓘ 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: $1,272 · $106/mo
• Projected year-2 tax: $1,272 · $106/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 8/10 Severe 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,510
• − Mortgage interest: −$5,602
• − Property taxes: −$1,272
• − Insurance: −$500
• − Repairs & maintenance: −$1,801
• − Management: −$1,801
• − HOA: −$4,020
• − Depreciation: −$2,909
• Taxable income: $4,605
• Est. tax owed @ 24.0%: −$1,105
• After-tax cash flow: $4,592/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: Anne Arundel County Public Schools
• NCES district ID: 2400060
• Math proficiency: 20% ▼ -21.00%
• Reading proficiency: 37% ▼ -13.00%
• Median HH income: $87,880
• Composite: 28.52/100
• National rank: #6733
• State rank: #10 of 24 in MD

Livability — Glen Burnie

• Score: 72/100
• State rank: #135
• US rank: #5815

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Glen Burnie, MD
• County: Anne Arundel County · 535,653 people
• City population: 96,960
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 39,730
• Household income: $104,715
• Rent vs Own: 22.6% rent · 77.4% own
• Severe rent burden: 976.0

Population outlook (Anne Arundel County) Hauer SSP2

• Today (2025): 617,384 people
• By 2030: 642,094 · +4.0%
• By 2040: 686,621 · +11.2%
• By 2050: 723,031 · +17.1%
• By 2075: 809,346 · +31.1%
• By 2100: 837,658 · +35.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 55% Black 24% Hispanic / Latino 12% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Romanian 5% Slovak 1% Italian 1%
• Foreign-born: 12% · Canada, China, Jamaica
• Languages at home: 85% English-only · Spanish 9% Other Indo-European 2% Tagalog/Filipino 1%

Political lean MEDSL · Anne Arundel

• 2024 margin: D (+13.9) · D 55.7% · R 41.7% · Other 2.6%
• 2008→2024 swing: +15.7pp toward D · 2008: -1.8pp · 2024: 13.9pp
• All cycles: 2024: D+13.9 2020: D+14.5 2016: D+0.7 2012: R+0.9 2008: R+1.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -305.56%
• Current HPI: 304.5692
• Rent YoY: ▲ 3.44%
• 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

+24.8% since first listed

22 events — show timeline

• 2026-06-15 Listed $100,000 BRIGHT MLS
• 2026-06-08 Coming Soon $100,000 BRIGHT MLS
• 2026-06-01 Listing Removed — BRIGHT MLS
• 2026-05-05 Price Changed $200,000 BRIGHT MLS
• 2026-04-20 Price Changed $209,000 BRIGHT MLS
• 2026-04-03 Price Changed $220,000 BRIGHT MLS
• 2026-03-19 Price Changed $225,000 BRIGHT MLS
• 2026-02-18 Price Changed $230,000 BRIGHT MLS
• 2026-01-14 Price Changed $240,000 BRIGHT MLS
• 2025-12-17 Listed $249,900 BRIGHT MLS
• 1997-09-02 Sold (Public Records) $75,600 Public Records
• 1997-02-24 Sold (Public Records) $79,900 Public Records
• 1990-11-13 Sold (Public Records) $79,500 Public Records
• 1989-10-02 Sold (Public Records) $71,900 Public Records
• 1989-09-13 Sold (Public Records) $73,900 Public Records
• 1989-08-08 Sold (Public Records) $76,900 Public Records
• 1989-08-08 Sold (Public Records) $76,200 Public Records
• 1989-08-08 Sold (Public Records) $69,900 Public Records
• 1989-06-29 Sold (Public Records) $81,015 Public Records
• 1989-06-13 Sold (Public Records) $76,900 Public Records
• 1989-05-25 Sold (Public Records) $78,905 Public Records
• 1989-05-15 Sold (Public Records) $80,135 Public Records

Property tax history

+2.8%/yr

Latest (2025): $1,272 · +1.8% YoY. Source: county tax records.