2002 David Dr · Edgewood, MD 21040

$89,000

3 bd · 2.0 ba · 1,000 sqft · Manufactured · 35 Days on market

Built 2024 871 sqft lot $89/sqft · 55% above area ↓ 1% since listing

---

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
• Rent growth +3.7/5.0
• Livability +3.7/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to the opportunity to own a home in the desirable Edgewood area of Harford County! This inviting property at 2002 David Dr. is now ready for its new owner. It features a bright and spacious open-concept design, complete with three bedrooms and two bathrooms. The location is fantastic, with convenient access to all major routes. Don't let this opportunity pass you by. Please feel free to schedule your appointment soon to see it for yourself.

Key facts

• Built 2024
• Listed 35 days

Property features AI

Finance

• Financial info: Land lease of $755 monthly (approximately 1 year remaining)

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Electric service
• Home design: Manufactured home; Above-grade structure
• Construction: Vinyl siding; Estimated year built
• Exterior features: Deck(s); Porch(es); Backs to trees; Pets allowed with size/weight restrictions

Interior

• Kitchen: Dishwasher; Icemaker; Electric oven/range; Refrigerator; Stainless steel appliances; Dining area
• Bedrooms: Three bedrooms on the main level
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Forced air heating (natural gas); Central air conditioning (electric); Electric hot water
• Interior features: Open floor plan; Gourmet kitchen; Upgraded countertops; Recessed lighting; Ceiling fans; Window treatments; Storm door(s); Cathedral ceilings; Entry-level bedroom
• Laundry & utility: Washer and dryer; Stacked washer/dryer; Main floor laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $89k.

Deal economics

• At list price, monthly cash flow is $868 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $89k).
• Recommended offer: $86k (3.0% below list) — sets the bar for market timing.
• Cap rate 18.0% vs local median 5.5% in Edgewood — 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 73/100 on livability (#118 in MD, #4,991 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: schools D, amenities D, crime F.
• Harford County Public Schools (suburban): math 22% / reading 39% proficiency, ranked #9 of 24 in MD (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.9%/yr); 94 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 803 units permitted in Harford County in 2024 (26 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $615 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.9% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 24y 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.

Recommended offer $86,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 2.11% ✓
• Cap rate: 18.00%
• Cash-on-cash: 41.80%
• DSCR: 2.86
• GRM: 4.0

CMA / ARV

• ARV (median comp): $57,362
• List price: $89,000
• Delta: 55.15%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1921 Steven Dr	0.19mi	2/2.0 (-1)	850 (-15%)	9mo	$60,000	$71	53

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 · 4.92% rent growth · sell at horizon

5-year hold

• IRR: 40.6%
• Equity multiple: 2.79×
• Total profit: $44,595
• Equity at exit: $13,270

10-year hold

• IRR: 47.8%
• Equity multiple: 6.05×
• Total profit: $125,919
• Equity at exit: $7,695

Cash invested: $24,920 (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 21040

• Home prices YoY: -29.4%
• Rents YoY: 4.9%
• Active inventory: 94
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,877 high
• Mortgage (P&I): −$467
• Tax est. 1.5%: −$111 /mo · $1,335/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $868

Break-even live

Break-even rent $779

Max offer price $89,000

Occupancy floor 49%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1772 Judy Way Edgewood, MD	3.0	1.5	1040	$2,195	$2.11	43d	1	0.47mi
905 Swallow Crest Ct Unit E Edgewood, MD	2.0	1.0	990	$1,495	$1.51	43d	1	0.52mi
1857 Simons Ct Edgewood, MD	3.0	1.5	1240	$1,700	$1.37	43d	1	0.56mi
1703 Fountain Rock Way Unit 1703-B Edgewood, MD	2.0	1.0	882	$1,250	$1.42	23d	1	0.63mi
962 Topview Dr Edgewood, MD	3.0	1.5	1278	$1,700	$1.33	2d	1	0.69mi
807 Windstream Way Unit 807-C Edgewood, MD	3.0	1.5	1260	$1,800	$1.43	2d	1	0.84mi
805 Windstream Way Unit 805B Edgewood, MD	3.0	1.5	1260	$1,450	$1.15	21d	1	0.84mi
807 W Spring Meadow Ct Edgewood, MD	3.0	1.5	1400	$1,850	$1.32	43d	1	0.90mi
719 Woodbridge Center Way Edgewood, MD	4.0	2.0	994	$2,700	$2.72	17d	1	0.97mi
802 Kingston Ct Edgewood, MD	1.0–3.0	1.0–1.5	1007	$1,883	$1.87	1d	15	1.01mi
1501 Saint Christopher Ct Edgewood, MD	4.0	2.0	1224	$2,200	$1.80	12d	1	1.01mi
1523 Charlestown Dr Edgewood, MD	3.0	1.5	1240	$1,595	$1.29	43d	1	1.39mi

Listing history 22 events

1. 2026-06-18
   days on market $89,000 Active 35 DOM
2. 2026-06-17
   days on market $89,000 Active 34 DOM
3. 2026-06-16
   days on market $89,000 Active 33 DOM
4. 2026-06-15
   days on market $89,000 Active 32 DOM
5. 2026-06-13
   days on market $89,000 Active 30 DOM
6. 2026-06-09
   days on market $89,000 Active 26 DOM
7. 2026-06-08
   days on market $89,000 Active 25 DOM
8. 2026-06-07
   days on market $89,000 Active 24 DOM
9. 2026-06-04
   days on market $89,000 Active 21 DOM
10. 2026-06-03
    days on market $89,000 Active 20 DOM
11. 2026-06-02
    days on market $89,000 Active 19 DOM
12. 2026-06-01
    days on market $89,000 Active 18 DOM
13. 2026-05-31
    days on market $89,000 Active 17 DOM
14. 2026-05-15
    listed $89,000 Active 2342-char remark
15. 2026-05-11
    historical $89,000 2342-char remark
16. 2025-11-25
    soldstatus $79,000 Closed 452-char remark

    Show marketing remark (452 chars)

    Welcome to the opportunity to own a home in the desirable Edgewood area of Harford County! This inviting property at 2002 David Dr. is now ready for its new owner. It features a bright and spacious open-concept design, complete with three bedrooms and two bathrooms. The location is fantastic, with convenient access to all major routes. Don't let this opportunity pass you by. Please feel free to schedule your appointment soon to see it for yourself.

17. 2025-10-03
    historical Active Under Contract 452-char remark

    Show marketing remark (452 chars)

    Welcome to the opportunity to own a home in the desirable Edgewood area of Harford County! This inviting property at 2002 David Dr. is now ready for its new owner. It features a bright and spacious open-concept design, complete with three bedrooms and two bathrooms. The location is fantastic, with convenient access to all major routes. Don't let this opportunity pass you by. Please feel free to schedule your appointment soon to see it for yourself.

18. 2025-09-04
    price $80,000 452-char remark

    Show marketing remark (452 chars)

    Welcome to the opportunity to own a home in the desirable Edgewood area of Harford County! This inviting property at 2002 David Dr. is now ready for its new owner. It features a bright and spacious open-concept design, complete with three bedrooms and two bathrooms. The location is fantastic, with convenient access to all major routes. Don't let this opportunity pass you by. Please feel free to schedule your appointment soon to see it for yourself.

19. 2025-06-23
    price $85,000 452-char remark

    Show marketing remark (452 chars)

    Welcome to the opportunity to own a home in the desirable Edgewood area of Harford County! This inviting property at 2002 David Dr. is now ready for its new owner. It features a bright and spacious open-concept design, complete with three bedrooms and two bathrooms. The location is fantastic, with convenient access to all major routes. Don't let this opportunity pass you by. Please feel free to schedule your appointment soon to see it for yourself.

20. 2025-04-29
    listed $90,000 Active 452-char remark

    Show marketing remark (452 chars)

    Welcome to the opportunity to own a home in the desirable Edgewood area of Harford County! This inviting property at 2002 David Dr. is now ready for its new owner. It features a bright and spacious open-concept design, complete with three bedrooms and two bathrooms. The location is fantastic, with convenient access to all major routes. Don't let this opportunity pass you by. Please feel free to schedule your appointment soon to see it for yourself.

21. 2003-07-03
    historical
22. 2002-07-03
    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: $22,530
• − Mortgage interest: −$4,985
• − Property taxes: −$1,335
• − Insurance: −$445
• − Repairs & maintenance: −$1,802
• − Management: −$1,802
• − Depreciation: −$2,589
• Taxable income: $9,570
• Est. tax owed @ 24.0%: −$2,297
• After-tax cash flow: $8,121/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: Harford County Public Schools
• NCES district ID: 2400390
• Math proficiency: 22% ▼ -23.00%
• Reading proficiency: 39% ▼ -12.00%
• Median HH income: $79,569
• Composite: 29.38/100
• National rank: #6527
• State rank: #9 of 24 in MD

Livability — Edgewood

• Score: 73/100
• State rank: #118
• US rank: #4991

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Edgewood, MD
• County: Harford County · 198,512 people
• City population: 24,960
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 24,960
• Household income: $81,704
• Rent vs Own: 28.9% rent · 71.1% own
• Severe rent burden: 859.0

Population outlook (Harford County) Hauer SSP2

• Today (2025): 262,292 people
• By 2030: 266,437 · +1.6%
• By 2040: 269,954 · +2.9%
• By 2050: 265,659 · +1.3%
• By 2075: 252,886 · -3.6%
• By 2100: 224,014 · -14.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: Black 45% White 36% Two or more races 11% Hispanic / Latino 10% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Romanian 4% Slovak 1% Italian 1%
• Foreign-born: 8% · Canada, South Korea
• Languages at home: 89% English-only · Spanish 5% Russian/Polish/Slavic 2% German/W. Germanic 1%

Political lean MEDSL · Harford

• 2024 margin: R (+13.8) · D 41.9% · R 55.7% · Other 2.4%
• 2008→2024 swing: +5.0pp toward D · 2008: -18.8pp · 2024: -13.8pp
• All cycles: 2024: R+13.8 2020: R+12.0 2016: R+24.5 2012: R+19.5 2008: R+18.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -106.14%
• Current HPI: 254.2305
• Rent YoY: ▲ 4.92%
• 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

-1.1% since first listed

9 events — show timeline

• 2026-05-15 Listed $89,000 BRIGHT MLS
• 2026-05-11 Coming Soon $89,000 BRIGHT MLS
• 2025-11-25 Sold (MLS) $79,000 BRIGHT MLS
• 2025-10-03 Contingent — BRIGHT MLS
• 2025-09-04 Price Changed $80,000 BRIGHT MLS
• 2025-06-23 Price Changed $85,000 BRIGHT MLS
• 2025-04-29 Listed $90,000 BRIGHT MLS
• 2003-07-03 Delisted — MRIS
• 2002-07-03 Listed — MRIS