5856 Monk Ave #24

White Marsh, MD 21162

$397,910D-

4 bd · 3.5 ba · 1,900 sqft · Built 2026 · Condo · Active · 95 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,099/mo
• Mortgage (P&I): −$2,087
• Tax + insurance: −$663
• HOA: −$65
• Vac / Maint / Mgmt: −$651
• Net cashflow: $-367/mo
• Annual: $-4,400/yr
• Cap rate: 5.19%
• Cash-on-cash: -3.95%
• DSCR: 0.82
• 1% rule: 0.78%
• Cash to close: $111,415

Investor read

• This is a 4-bed/3.5-bath condo listed at $398k. Condition is rated good.
• At list price, monthly cash flow is $-367 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $345k (13.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $310k (22.1% below list).
• It's been on market 95 days — a 9% lower offer ($362k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $310k (22.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Location reads 83/100 on livability (#30 in MD, #1,037 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, health & safety A+; Watch: cost of living D-.
• 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.
• Zoned schools: Vincent Farm Elementary (math 10% / reading 24%, grade F, #408 of 860 statewide, top 50%, 735 students, 52% FRL); Perry Hall Middle (math 15% / reading 46%, grade F, #64 of 225 statewide, top 28%, 1,754 students, 40% FRL); Perry Hall High (math 19% / reading 57%, grade F, #137 of 222 statewide, top 62%, 2,029 students, 45% FRL).
• Market conditions: 45 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 1,511 units permitted in Baltimore County in 2024 (643 in 5+ unit buildings).
• Baltimore County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Cap rate 5.2% vs local median 3.6% in White Marsh — 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.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 95 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
• 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?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.