515 Wilson Bridge Dr Unit 6714 C-2

National Harbor, MD 20745

$134,000B-

3 bd · 1.5 ba · 1,100 sqft · Built 1966 · Condo · Active · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,438/mo
• Mortgage (P&I): −$703
• Tax + insurance: −$290
• HOA: −$583
• Vac / Maint / Mgmt: −$512
• Net cashflow: $351/mo
• Annual: $4,210/yr
• Cap rate: 10.03%
• Cash-on-cash: 13.35%
• DSCR: 1.59
• 1% rule: 1.82%
• Cash to close: $37,520

Investor read

• This is a 3-bed/1.5-bath condo listed at $134k. Condition is rated fair.
• At list price, monthly cash flow is $351 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $134k).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $926 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#48 in MD, #1,799 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: cost of living D-.
• 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.
• Zoned schools: Oxon Hill Elementary (math 2% / reading 12%, grade F, #699 of 860 statewide, top 84%, 237 students, 85% FRL); Oxon Hill High (math 43% / reading 68%, grade C, #85 of 222 statewide, top 39%, 1,553 students, 58% FRL) — zoned schools average 71% FRL vs 53% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 31% at this address vs 16% district-wide (+15 pts) — the actual schools serving this property are materially stronger than the Prince George'S County Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: flood insurance adds $66/mo; HOA is 24% of rent.
• Market conditions: Rents soft (-0.8%/yr); 221 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,481 units permitted in Prince George's County in 2024 (0 in 5+ unit buildings).
• Prince George's County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 10.0% vs local median 1.9% in National Harbor — 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.
• This rent runs 39% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: kitchen cabinets — dated and worn
• Moderate: bathroom cabinets — dated and worn
• Major: flooring — carpeted and worn