430 Battery Dr

Havre de Grace, MD 21078

$199,000C+

3 bd · 1.5 ba · 1,152 sqft · Built 1972 · Townhouse · Active · 65 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,930/mo
• Mortgage (P&I): −$1,044
• Tax + insurance: −$147
• HOA: −$0
• Vac / Maint / Mgmt: −$405
• Net cashflow: $334/mo
• Annual: $4,004/yr
• Cap rate: 8.30%
• Cash-on-cash: 7.19%
• DSCR: 1.32
• 1% rule: 0.97%
• Cash to close: $55,720

Investor read

• This is a 3-bed/1.5-bath townhouse listed at $199k.
• At list price, monthly cash flow is $334 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $193k (3.0% below list).
• It's been on market 65 days — a 6% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $187k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 82/100 on livability (#32 in MD, #1,087 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A+, crime A; Watch: amenities C-, cost of living C-, schools D+.
• 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: 178 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% 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).
• Current owner paid $130k; list at $199k implies a 53% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: moderate wind risk, 26% 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.
• Cap rate 8.3% vs local median 2.5% in Havre de Grace — 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

• It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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?
• 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.
• 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.
• 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.