622 Tripp Creek Ct · Annapolis, MD 21401

$250,000

3 bd · 2.5 ba · 1,198 sqft · Townhouse public records · 4 Days on market

Built 1997 1,307 sqft lot Est $301k · 17% under $89/mo HOA · 3% of rent

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Why this score? — see what drove the C+ 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 +21.7/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +5.8/10.0
• Livability +3.9/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Discover a prime investment opportunity in the sought-after Oxford Landing community. This 3-bedroom, 2.5-bathroom colonial townhouse needs work but with some sweat equity it can be brought back to life. This home is for investors or a buyer with a 203k or conventional rehab loan. Needs flooring and kitchen and baths will need to be renovated. Built in 1997, this townhome offers a solid foundation for both seasoned and novice investors. With a total finished area of 1,198 sq. ft. , once renovated, this property will be perfect for efficient living and potential rental income. The interior features a foyer, eat in kitchen and an unfinished basement with interior access, providing ample space

Key facts

• $89 HOA
• Built 1997
• Listed 4 days

Property features AI

Finance

• HOA & community: HOA fee of $82 per month

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Electric service
• Home design: Interior townhouse/rowhouse; Brick front
• Construction: Shingle roof; Slab foundation; Estimated year built
• Exterior features: No tidal water

Interior

• Bedrooms: Three bedrooms on the upper level
• Bathrooms: Two full bathrooms (all upper levels); One half bathroom on main level
• Heating & cooling: Central heating (natural gas); Central air conditioning; Electric hot water
• Interior features: Interior access to basement; Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $250k.

Deal economics

• At list price, monthly cash flow is $384 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Cap rate 8.1% vs local median 2.0% in Annapolis — 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 78/100 on livability (#71 in MD, #2,563 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, health & safety A+; Watch: crime F, cost of living 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.
• Market conditions: Rents flat; 223 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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 $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $70k; list at $250k implies a 257% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 62% 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 $250,000

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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.08% ✓
• Cap rate: 8.14%
• Cash-on-cash: 6.58%
• DSCR: 1.29
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $300,698
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
622 Tripp Creek Ct	0.00mi	3/2.5	1,198 (0%)	0mo	$257,500	$215	100
704 Great Bay Ave	0.29mi	3/2.5	1,246 (+4%)	11mo	$340,000	$273	70
1786-A Belle Dr	0.24mi	2/2.5 (-1)	1,136 (-5%)	19mo	$280,000	$246	59
712 Great Bay Ave	0.31mi	3/1.5	1,253 (+5%)	21mo	$285,000	$227	56
1009 Baywind Dr	0.31mi	3/3.5	1,374 (+15%)	13mo	$375,000	$273	46
74 Heritage Ct	0.70mi	3/1.5	1,116 (-7%)	21mo	$280,000	$251	35

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 · 0.14% rent growth · sell at horizon

5-year hold

• IRR: -9.5%
• Equity multiple: 0.66×
• Total profit: $-23,572
• Equity at exit: $37,276

10-year hold

• IRR: -4.5%
• Equity multiple: 0.74×
• Total profit: $-18,163
• Equity at exit: $21,615

Cash invested: $70,000 (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 21401

• Rents YoY: 0.1%
• Active inventory: 223
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,709 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$252 /mo · $3,022/yr
• Insurance: −$104
• HOA: −$89
• Vacancy / Maint / Mgmt: −$569
• Net cashflow: $384

Break-even live

Break-even rent $2,223

Max offer price $250,000

Occupancy floor 81%

Sensitivity live

Price	-10% $526	-5% $455	+0% $384	+5% $313	+10% $243
Rent	-10% $170	-5% $277	+0% $384	+5% $491	+10% $598
Rate	-1.0pp $510	-0.5pp $448	base $384	+0.5pp $319	+1.0pp $253

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
721 S Cherry Grove Ave Annapolis, MD	1.0–3.0	1.0–2.0	1055	$3,502	$3.32	3d	27	0.45mi
1900 Center St Annapolis, MD	3.0	1.0–2.5	1051	$6,132	$5.83	17d	1	0.52mi
7 Heritage Ct #120 Annapolis, MD	2.0	1.5	960	$1,895	$1.97	45d	1	0.60mi
67 Heritage Ct Annapolis, MD	2.0	1.5	1000	$2,150	$2.15	16d	1	0.69mi
1029 Spa Rd Annapolis, MD	1.0–2.0	1.0–2.0	835	$2,415	$2.89	3d	12	0.81mi
988 Spa Rd Annapolis, MD	1.0–2.0	1.0–2.0	679	$2,800	$4.12	3d	12	0.85mi
1910 Towne Centre Blvd Annapolis, MD	1.0–2.0	1.0–2.0	994	$3,691	$3.71	3d	9	0.93mi
14 Silopanna Rd Annapolis, MD	4.0	1.0	1170	$2,495	$2.13	25d	1	0.96mi
2445 Holly Ave Annapolis, MD	2.0	1.0–2.0	852	$3,168	$3.72	3d	19	1.01mi
230 Hilltop Ln Annapolis, MD	1.0–2.0	1.0	692	$2,316	$3.35	4d	6	1.03mi
8 Johnson Pl Annapolis, MD	2.0	1.5	900	$2,295	$2.55	45d	1	1.03mi
1903 Towne Centre Blvd Annapolis, MD	2.0	1.0–2.0	798	$3,107	$3.89	3d	15	1.05mi
114 Hearne Ct Annapolis, MD	1.0–2.0	1.0–2.0	1008	$2,456	$2.44	3d	6	1.15mi
2494 Riva Rd Annapolis, MD	2.0	1.0–2.0	912	$3,360	$3.68	6d	1	1.23mi
302 Hilltop Ln Annapolis, MD	2.0	2.0	1205	$2,422	$2.01	6d	2	1.33mi
625 Admiral Dr #205 Annapolis, MD	2.0	2.0	1281	$2,200	$1.72	45d	1	1.41mi
37 Rockwell Ct Annapolis, MD	3.0	2.5	1450	$3,000	$2.07	45d	1	1.42mi
43 Madison Pl Annapolis, MD	3.0	1.5	1472	$3,250	$2.21	25d	1	1.42mi
2155 Scotts Crossing Ct #101 Annapolis, MD	2.0	2.0	1096	$2,550	$2.33	45d	1	1.43mi
2570 Riva Rd Unit 15C Annapolis, MD	3.0	1.0	1103	$2,195	$1.99	19d	1	1.44mi
701 Glenwood St Annapolis, MD	2.0	1.0	623	$1,703	$2.73	45d	1	1.45mi
2015 Gov Thomas Bladen Way #204 Annapolis, MD	2.0	2.0	1077	$2,600	$2.41	21d	1	1.45mi
2572 Riva Rd Unit 21B Annapolis, MD	2.0	1.0	961	$1,950	$2.03	25d	1	1.47mi

HOA detail

• Monthly dues: $89 · $1,068/yr

Listing history 7 events

1. 2026-06-01
   status $250,000 Pending 4 DOM
2. 2026-05-31
   days on market $250,000 Active 4 DOM
3. 2026-05-21
   historical $250,000
4. 2000-06-05
   soldstatus $70,000
5. 2000-05-28
   soldstatus $101,300
6. 2000-04-05
   listed $102,000
7. 2000-04-05
   historical

ⓘ 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: $3,022 · $252/mo
• Projected year-2 tax: $3,022 · $252/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 ≥106°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 62% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,507
• − Mortgage interest: −$14,004
• − Property taxes: −$3,022
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,601
• − Management: −$2,601
• − HOA: −$1,068
• − Depreciation: −$7,273
• Taxable income: $690
• Est. tax owed @ 24.0%: −$165
• After-tax cash flow: $4,443/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 — Annapolis

• Score: 78/100
• State rank: #71
• US rank: #2563

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Annapolis, MD
• County: Anne Arundel County · 535,653 people
• City population: 91,599
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 38,629
• Household income: $123,381
• Rent vs Own: 34.6% rent · 65.4% own
• Severe rent burden: 1158.0

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: Predominantly White (69%)
• Race & ethnicity: White 69% Black 15% Hispanic / Latino 9% Two or more races 6% Asian 4%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Romanian 3% Slovak 3% Italian 2%
• Foreign-born: 9% · Canada, Jamaica
• Languages at home: 87% English-only · Spanish 5% Tagalog/Filipino 2% Other Indo-European 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: ▼ -498.22%
• Current HPI: 297.4285
• Rent YoY: ▲ 0.14%
• 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

+145.1% since first listed

5 events — show timeline

• 2026-05-21 Coming Soon $250,000 BRIGHT MLS
• 2000-06-05 Sold (Public Records) $70,000 Public Records
• 2000-05-28 Sold (MLS) $101,300 MRIS
• 2000-04-05 Listed $102,000 MRIS
• 2000-04-05 Delisted — MRIS

Property tax history

+3.9%/yr

Latest (2025): $3,022 · +4.2% YoY. Source: county tax records.