10475 Berry Rd · Waldorf, MD 20603

$269,975

2 bd · 1.0 ba · 1,316 sqft · SingleFamily public records · 29 Days on market

Built 1948 2.00 ac lot Est $367k · 26% under

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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 +21.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +4.4/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Investor Special! Opportunity awaits at 10475 Berry Rd — perfect for investors, flippers, or buyers looking for a renovation project with strong upside potential. Property needs repairs and updates and is being sold as-is. Ideal for cash buyers, conventional rehab loans, or renovation financing. Previously associated with a HUD reverse mortgage. Great potential for fix-and-flip, rental income, or sweat equity. Convenient location with room to add value. Bring your vision and transform this property into something special!

Key facts

• 2 acre lot
• 8 parking spots
• Built 1948

Property features AI

Finance

• Other: Fee simple ownership; Property condition listed as below average to average; Above-grade finished area approximately 1,316 (assessor)

Exterior

• Parking: Paved driveway with 8 parking spaces
• Utilities: Public water; On-site septic system; Electric available; Water available
• Home design: Detached single-family home; Shingle roof; Entry level on main floor
• Construction: Vinyl siding; Block foundation with crawl space; Not winterized
• Exterior features: Porch(es); Shed and shed shop on property; Backs to trees; Cleared yard; Front yard; Level lot; Ramp to main level (accessibility)

Interior

• Kitchen: Refrigerator; Stove; Exhaust fan
• Bedrooms: Two main-level bedrooms; Attic
• Flooring: Wood floors
• Bathrooms: One full bathroom (main level)
• Heating & cooling: 90% forced air heating (oil-fired); Ceiling fans; Window air conditioning units; 100 amp electric service; Electric hot water
• Interior features: Crown molding; Ceiling fan(s); Six-panel doors; Drywall walls and ceilings; Wood flooring
• Laundry & utility: Washer in unit on main floor; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $270k.

Deal economics

• At list price, monthly cash flow is $409 ($5k/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 $254k (6.1% below list).
• Recommended offer: $254k (6.1% below list) — sets the bar for 1% rule.
• Cap rate 8.1% vs local median 4.8% in Waldorf — 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 72/100 on livability (#141 in MD) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, housing A+; Watch: crime D-, amenities F, cost of living F.
• Charles County Public Schools (suburban): math 13% / reading 29% proficiency, ranked #14 of 24 in MD (top 58%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Berry Elementary School (math 9% / reading 17%, grade F, #526 of 860 statewide, top 62%, 721 students, 50% FRL); Mattawoman Middle School (math 8% / reading 29%, grade F, #159 of 225 statewide, top 73%, 934 students, 48% FRL); North Point High School (math 45% / reading 67%, grade C, #83 of 222 statewide, top 38%, 1,867 students, 30% FRL) — zoned schools average 43% FRL vs 28% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 157 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 1,542 units permitted in Charles County in 2024 (516 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.
• Charles County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($266k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 25% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $253,635 (6.1% below list)

Questions for the listing agent

1. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is D 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?
5. 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.
6. 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.
7. 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: 0.94% ✗
• Cap rate: 8.11%
• Cash-on-cash: 6.50%
• DSCR: 1.29
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $367,164
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2115 Greenwood Dr	0.61mi	3/2.0 (+1)	1,272 (-3%)	3mo	$335,000	$263	54
2254 Sandalwood Dr	0.47mi	3/2.0 (+1)	1,188 (-10%)	7mo	$384,999	$324	47
2117 Greenwood Dr	0.61mi	3/1.0 (+1)	1,178 (-10%)	8mo	$355,000	$301	42
10654 Water Hickory Ct	0.65mi	3/2.0 (+1)	1,432 (+9%)	10mo	$365,000	$255	38
10542 Beechwood Dr	0.59mi	3/2.0 (+1)	1,432 (+9%)	15mo	$400,000	$279	36

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.4%
• Equity multiple: 0.76×
• Total profit: $-17,817
• Equity at exit: $40,254

10-year hold

• IRR: 3.2%
• Equity multiple: 1.23×
• Total profit: $17,520
• Equity at exit: $23,343

Cash invested: $75,593 (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 20603

• Home prices YoY: -16.4%
• Active inventory: 157
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,536 medium
• Mortgage (P&I): −$1,416
• Tax from tax record: −$66 /mo · $796/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$533
• Net cashflow: $409

Break-even live

Break-even rent $2,018

Max offer price $269,975

Occupancy floor 79%

Sensitivity live

Price	-10% $562	-5% $486	+0% $409	+5% $333	+10% $256
Rent	-10% $209	-5% $309	+0% $409	+5% $509	+10% $610
Rate	-1.0pp $545	-0.5pp $478	base $409	+0.5pp $339	+1.0pp $268

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: $67,494
• Closing costs: $8,099
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10542 Black Pine Ln Waldorf, MD	1.0	1.0	923	$1,750	$1.90	25d	1	1.45mi
9445 Kilwinning Pl Waldorf, MD	3.0	2.5	1800	$3,245	$1.80	4d	4	1.45mi

Listing history 15 events

1. 2026-06-21
   days on market $269,975 Active 29 DOM
2. 2026-06-18
   days on market $269,975 Active 26 DOM
3. 2026-06-17
   days on market $269,975 Active 25 DOM
4. 2026-06-16
   days on market $269,975 Active 24 DOM
5. 2026-06-15
   days on market $269,975 Active 23 DOM
6. 2026-06-13
   pricedays on market $269,975 Active 21 DOM
7. 2026-06-09
   days on market $299,975 Active 17 DOM
8. 2026-06-08
   days on market $299,975 Active 16 DOM
9. 2026-06-07
   days on market $299,975 Active 15 DOM
10. 2026-06-04
    days on market $299,975 Active 12 DOM
11. 2026-06-03
    days on market $299,975 Active 11 DOM
12. 2026-06-02
    days on market $299,975 Active 10 DOM
13. 2026-06-01
    days on market $299,975 Active 9 DOM
14. 2026-05-31
    days on market $299,975 Active 8 DOM
15. 2026-05-23
    listed $299,975 Active

ⓘ 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: $796 · $66/mo
• Projected year-2 tax: $1,869 · $156/mo
• Expected delta: +$1,074/yr (+$89/mo · 135.0%)

ⓘ 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 7/10 Severe 7 d/yr ≥103°F today · 16 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 25% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,436
• − Mortgage interest: −$15,123
• − Property taxes: −$796
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,435
• − Management: −$2,435
• − Depreciation: −$7,854
• Taxable income: $444
• Est. tax owed @ 24.0%: −$107
• After-tax cash flow: $4,803/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: Charles County Public Schools
• NCES district ID: 2400270
• Math proficiency: 13% ▼ -19.00%
• Reading proficiency: 29% ▼ -13.00%
• Median HH income: $90,389
• Composite: 22.54/100
• National rank: #8087
• State rank: #14 of 24 in MD

Livability — Waldorf

• Score: 72/100
• State rank: #141
• US rank: #6083

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waldorf, MD
• County: Charles County · 103,527 people
• City population: 103,527
• Metro: Washington-Arlington-Alexandria, DC-VA-MD-WV
• Population (ZIP): 31,844
• Household income: $137,946
• Rent vs Own: 16.4% rent · 83.6% own
• Severe rent burden: 505.0

Population outlook (Charles County) Hauer SSP2

• Today (2025): 176,616 people
• By 2030: 186,471 · +5.6%
• By 2040: 206,472 · +16.9%
• By 2050: 224,883 · +27.3%
• By 2075: 272,101 · +54.1%
• By 2100: 303,564 · +71.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Black 60% White 18% Hispanic / Latino 9% Two or more races 9% Asian 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Romanian 1% Iranian 1% Slovak 0%
• Foreign-born: 10% · Canada, China
• Languages at home: 86% English-only · Spanish 6% Tagalog/Filipino 2% Other Indo-European 2%

Political lean MEDSL · Charles

• 2024 margin: Solid D (+40.7) · D 69.2% · R 28.5% · Other 2.2%
• 2008→2024 swing: +15.2pp toward D · 2008: 25.5pp · 2024: 40.7pp
• All cycles: 2024: D+40.7 2020: D+40.9 2016: D+30.2 2012: D+31.3 2008: D+25.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -48.22%
• Current HPI: 245.9911
• Rent YoY: —
• 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

1 event — show timeline

• 2026-05-23 Listed $299,975 BRIGHT MLS

Property tax history

-5.3%/yr

Latest (2025): $796 · +7.2% YoY. Source: county tax records.