7828 Hanover Pkwy #466 · Greenbelt, MD 20770

$123,000

1 bd · 1.0 ba · 943 sqft · Condo public records · 46 Days on market

Built 1975 $130/sqft · 40% below area Est $205k · 40% under $577/mo HOA · 33% of rent

---

Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• 1% rule +9.1/10.0
• Cash flow +8.4/30.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• Rent growth +2.1/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

SHORT SALE OPPORTUNITY in the Greenbriar community of Greenbelt! List price is the bank-approved price. This 1-bedroom condo offers a spacious and functional layout with a bright living room featuring balcony access, a separate dining area, and a flexible family room/den space just off the kitchen — perfect for a home office, sitting area, or additional living space. The kitchen offers ample cabinet storage and flows easily into the main living areas for comfortable everyday living. The generously sized bedroom includes a walk-in closet and convenient access to the hall bathroom. Residents enjoy community amenities including a pool, along with a convenient location close to major commuter routes, shopping, dining, entertainment, and schools. Bring your vision and personal touches to make this home your own. Great potential for an owner-occupant or investor alike!

Key facts

• Balcony access
• Walk-in closet
• Community amenities

Tags

• BALCONY ACCESS
• WALK-IN CLOSET
• COMMUNITY AMENITIES
• PRIME LOCATION

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $123k.

Deal economics

• At list price, monthly cash flow is $-176 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $92k (25.3% below list).
• Meets the 1% rule at list price ($2k rent vs $123k).
• Recommended offer: $92k (25.3% below list) — sets the bar for cash-flow.
• Cap rate 5.2% vs local median 3.3% in Greenbelt — 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 75/100 on livability (#107 in MD, #4,259 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, employment A-; Watch: crime F.
• 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: Greenbelt Elementary (math 16% / reading 26%, grade F, #332 of 860 statewide, top 39%, 573 students, 63% FRL); Greenbelt Middle (math 11% / reading 32%, grade F, #132 of 225 statewide, top 59%, 1,342 students, 76% FRL); Eleanor Roosevelt High (math 61% / reading 74%, grade B, #48 of 222 statewide, top 22%, 2,526 students, 59% FRL).
• Zoned-school proficiency averages 37% at this address vs 16% district-wide (+21 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.
• Market conditions: Rents soft (-1.7%/yr); 91 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,481 units permitted in Prince George's County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $850 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Prince George's County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 24y ago; this cycle's ask has dropped $7k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $74k; list at $123k implies a 65% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 33% of rent.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $91,823 (25.3% below list)

Questions for the listing agent

1. 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?
2. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 1.41% ✓
• Cap rate: 5.22%
• Cash-on-cash: -3.83%
• DSCR: 0.83
• GRM: 5.9

CMA / ARV

• ARV (median comp): $204,928
• List price: $123,000
• Delta: -39.98%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -33.4%
• Equity multiple: -0.04×
• Total profit: $-35,796
• Equity at exit: $18,340

10-year hold

• IRR: -92.0%
• Equity multiple: -0.84×
• Total profit: $-63,427
• Equity at exit: $10,635

Cash invested: $34,440 (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 20770

• Home prices YoY: -25.1%
• Rents YoY: -1.7%
• Active inventory: 91
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,733 high
• Mortgage (P&I): −$645
• Tax from tax record: −$206 /mo · $2,468/yr
• Insurance: −$51
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$577
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $-176

Break-even live

Break-even rent $1,956

Max offer price $91,823

Occupancy floor —

Sensitivity live

Price	-10% $-107	-5% $-142	+0% $-176	+5% $-211	+10% $-246
Rent	-10% $-313	-5% $-245	+0% $-176	+5% $-108	+10% $-40
Rate	-1.0pp $-115	-0.5pp $-145	base $-176	+0.5pp $-208	+1.0pp $-241

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: $30,750
• Closing costs: $3,690
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7716 Hanover Pkwy Apt T4 Greenbelt, MD	2.0	1.0	922	$2,000	$2.17	45d	1	0.28mi
40 Crescent Rd Greenbelt, MD	1.0	1.0	587	$1,408	$2.40	19d	1	0.47mi
32 Crescent Rd Greenbelt, MD	1.0	1.0	630	$1,538	$2.44	12d	4	0.51mi
9 Parkway Greenbelt, MD	1.0–2.0	1.0	812	$1,755	$2.16	5d	21	0.55mi
4 Parkway Greenbelt, MD	1.0	1.0	525	$1,455	$2.77	13d	2	0.60mi
157 Westway Greenbelt, MD	1.0–3.0	1.0–2.0	1191	$1,622	$1.36	1d	33	0.74mi
8501 Greenbelt Rd Greenbelt, MD	1.0–3.0	1.0–2.0	933	$1,589	$1.70	45d	1	0.85mi
7232 Hanover Pkwy Greenbelt, MD	1.0–3.0	1.0–1.5	841	$1,690	$2.01	45d	1	1.05mi
6934 Hanover Pkwy #402 Greenbelt, MD	1.0	1.0	1064	$1,800	$1.69	45d	1	1.11mi
6998 Hanover Pkwy #302 Greenbelt, MD	2.0	2.0	994	$2,175	$2.19	14d	1	1.18mi
6998 Hanover Pkwy #3 Greenbelt, MD	1.0	1.0	750	$1,650	$2.20	45d	1	1.18mi
8150 Lakecrest Dr Greenbelt, MD	2.0	1.0–2.0	725	$1,850	$2.55	1d	14	1.21mi
430 Ridge Rd Greenbelt, MD	1.0–3.0	1.0–1.5	882	$1,657	$1.88	3d	6	1.44mi

HOA detail condo

• Monthly dues: $577 · $6,924/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-05-16
   price $123,000 881-char remark

   Show marketing remark (881 chars)

   SHORT SALE OPPORTUNITY in the Greenbriar community of Greenbelt! List price is the bank-approved price. This 1-bedroom condo offers a spacious and functional layout with a bright living room featuring balcony access, a separate dining area, and a flexible family room/den space just off the kitchen — perfect for a home office, sitting area, or additional living space. The kitchen offers ample cabinet storage and flows easily into the main living areas for comfortable everyday living. The generously sized bedroom includes a walk-in closet and convenient access to the hall bathroom. Residents enjoy community amenities including a pool, along with a convenient location close to major commuter routes, shopping, dining, entertainment, and schools. Bring your vision and personal touches to make this home your own. Great potential for an owner-occupant or investor alike!

2. 2026-05-13
   status Active 881-char remark

   Show marketing remark (881 chars)

   SHORT SALE OPPORTUNITY in the Greenbriar community of Greenbelt! List price is the bank-approved price. This 1-bedroom condo offers a spacious and functional layout with a bright living room featuring balcony access, a separate dining area, and a flexible family room/den space just off the kitchen — perfect for a home office, sitting area, or additional living space. The kitchen offers ample cabinet storage and flows easily into the main living areas for comfortable everyday living. The generously sized bedroom includes a walk-in closet and convenient access to the hall bathroom. Residents enjoy community amenities including a pool, along with a convenient location close to major commuter routes, shopping, dining, entertainment, and schools. Bring your vision and personal touches to make this home your own. Great potential for an owner-occupant or investor alike!

3. 2026-04-08
   historical Active Under Contract 881-char remark

   Show marketing remark (881 chars)

   SHORT SALE OPPORTUNITY in the Greenbriar community of Greenbelt! List price is the bank-approved price. This 1-bedroom condo offers a spacious and functional layout with a bright living room featuring balcony access, a separate dining area, and a flexible family room/den space just off the kitchen — perfect for a home office, sitting area, or additional living space. The kitchen offers ample cabinet storage and flows easily into the main living areas for comfortable everyday living. The generously sized bedroom includes a walk-in closet and convenient access to the hall bathroom. Residents enjoy community amenities including a pool, along with a convenient location close to major commuter routes, shopping, dining, entertainment, and schools. Bring your vision and personal touches to make this home your own. Great potential for an owner-occupant or investor alike!

4. 2026-03-02
   listed $130,000 Active 881-char remark

   Show marketing remark (881 chars)

   SHORT SALE OPPORTUNITY in the Greenbriar community of Greenbelt! List price is the bank-approved price. This 1-bedroom condo offers a spacious and functional layout with a bright living room featuring balcony access, a separate dining area, and a flexible family room/den space just off the kitchen — perfect for a home office, sitting area, or additional living space. The kitchen offers ample cabinet storage and flows easily into the main living areas for comfortable everyday living. The generously sized bedroom includes a walk-in closet and convenient access to the hall bathroom. Residents enjoy community amenities including a pool, along with a convenient location close to major commuter routes, shopping, dining, entertainment, and schools. Bring your vision and personal touches to make this home your own. Great potential for an owner-occupant or investor alike!

5. 2003-01-16
   soldstatus $74,500
6. 2002-11-22
   soldstatus $74,500
7. 2002-10-30
   historical
8. 2002-10-23
   listed $69,000
9. 1986-11-07
   soldstatus $57,500
10. 1986-11-07
    soldstatus $57,500
11. 1980-09-24
    soldstatus $40,000

ⓘ 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: $2,468 · $206/mo
• Projected year-2 tax: $2,468 · $206/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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,793
• − Mortgage interest: −$6,890
• − Property taxes: −$2,468
• − Insurance: −$1,412
• − Repairs & maintenance: −$1,663
• − Management: −$1,663
• − HOA: −$6,924
• − Depreciation: −$3,578
• Taxable loss: −$3,806
• Est. tax savings @ 24.0%: +$913
• After-tax cash flow: $-1,204/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: Prince George'S County Public Schools
• NCES district ID: 2400510
• Math proficiency: 8% ▼ -11.00%
• Reading proficiency: 24% ▼ -9.00%
• Median HH income: $73,967
• Composite: 16.82/100
• National rank: #9151
• State rank: #21 of 24 in MD

Livability — Greenbelt

• Score: 75/100
• State rank: #107
• US rank: #4259

Category grades

Amenities C Commute B+ Cost of living C 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: Greenbelt, MD
• County: Prince Georges County · 919,866 people
• City population: 28,384
• Metro: Washington-Arlington-Alexandria, DC-VA-MD-WV
• Population (ZIP): 28,384
• Household income: $84,096
• Rent vs Own: 55.1% rent · 44.9% own
• Severe rent burden: 1890.0

Population outlook (Prince George's County) Hauer SSP2

• Today (2025): 1,005,426 people
• By 2030: 1,048,416 · +4.3%
• By 2040: 1,123,425 · +11.7%
• By 2050: 1,183,220 · +17.7%
• By 2075: 1,306,202 · +29.9%
• By 2100: 1,408,179 · +40.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Black 49% White 18% Hispanic / Latino 17% Asian 8% Two or more races 7%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Hispanic 2% Italian 1% Lithuanian 1%
• Foreign-born: 27% · Canada, China, South Korea
• Languages at home: 69% English-only · Spanish 14% French/Haitian/Cajun 4% Chinese 3%

Political lean MEDSL · Prince George's

• 2024 margin: Solid D (+75.2) · D 86.3% · R 11.2% · Other 2.5%
• 2008→2024 swing: -3.3pp toward R · 2008: 78.5pp · 2024: 75.2pp
• All cycles: 2024: D+75.2 2020: D+80.5 2016: D+81.0 2012: D+80.9 2008: D+78.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -84.02%
• Current HPI: 251.3114
• Rent YoY: ▼ -1.67%
• Metro: Washington-Arlington-Alexandria, DC-VA-MD-WV
• 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

+207.5% since first listed

11 events — show timeline

• 2026-05-16 Price Changed $123,000 BRIGHT MLS
• 2026-05-13 Relisted — BRIGHT MLS
• 2026-04-08 Contingent — BRIGHT MLS
• 2026-03-02 Listed $130,000 BRIGHT MLS
• 2003-01-16 Sold (Public Records) $74,500 Public Records
• 2002-11-22 Sold (MLS) $74,500 MRIS
• 2002-10-30 Delisted — MRIS
• 2002-10-23 Listed $69,000 MRIS
• 1986-11-07 Sold (Public Records) $57,500 Public Records
• 1986-11-07 Sold (Public Records) $57,500 Public Records
• 1980-09-24 Sold (Public Records) $40,000 Public Records

Property tax history

+3.6%/yr

Latest (2025): $2,468 · +6.9% YoY. Source: county tax records.