3506 Cornwall Ct · Dundalk, MD 21222

$185,000

4 bd · 1.0 ba · 1,125 sqft · SingleFamily public records · 73 Days on market

Built 1951 7,881 sqft lot Est $277k · 33% under

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Why this score? — see what drove the B- 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 +25.8/30.0
• ARV discount +15.0/15.0
• DSCR +8.6/10.0
• 1% rule +6.7/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Key facts

• 7,881 sq ft lot
• Built 1951
• Listed 73 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $450 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $174k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 6.2% in Dundalk — 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 85/100 on livability (#16 in MD, #510 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime F.
• 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.
• Market conditions: Rents soft (-0.1%/yr); 236 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 41% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,511 units permitted in Baltimore County in 2024 (643 in 5+ unit buildings).
• This rent runs 41% of the median local income ($64k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• 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.
• Baltimore County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($174k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 56% 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 $173,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
7. 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.
8. 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.
9. 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: 1.17% ✓
• Cap rate: 9.21%
• Cash-on-cash: 10.42%
• DSCR: 1.46
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $276,750
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3456 Loganview Dr	0.05mi	3/1.0 (-1)	1,125 (0%)	11mo	$250,500	$223	84
3413 Yardley Dr	0.13mi	4/1.5	1,185 (+5%)	11mo	$250,000	$211	74
3526 Loganview Dr	0.23mi	3/2.0 (-1)	1,125 (0%)	9mo	$295,000	$262	73
3406 Louth Rd	0.37mi	4/1.0	1,150 (+2%)	9mo	$289,000	$251	71
3413 Louth Rd	0.39mi	3/1.5 (-1)	1,170 (+4%)	1mo	$320,000	$274	68
3142 Yorkway	0.38mi	4/1.5	1,088 (-3%)	11mo	$255,000	$234	66
3004 Dunmurry Rd	0.58mi	3/1.5 (-1)	1,144 (+2%)	6mo	$290,000	$253	59
6806 Dunhill Rd	0.51mi	3/2.0 (-1)	1,144 (+2%)	10mo	$286,000	$250	56
3408 Louth Rd	0.37mi	4/2.0	1,232 (+10%)	9mo	$255,000	$207	56
7400 Belclare Rd	0.39mi	4/2.0	1,280 (+14%)	1mo	$315,000	$246	54
8209 Longpoint Rd	0.74mi	3/1.0 (-1)	1,197 (+6%)	2mo	$290,000	$242	48
419 New Pittsburg Ave	0.67mi	4/2.0	1,275 (+13%)	5mo	$188,100	$148	38

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -4.1%
• Equity multiple: 0.85×
• Total profit: $-7,656
• Equity at exit: $27,584

10-year hold

• IRR: 1.8%
• Equity multiple: 1.11×
• Total profit: $5,779
• Equity at exit: $15,995

Cash invested: $51,800 (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 21222

• Rents YoY: -0.1%
• Active inventory: 236
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,166 high
• Mortgage (P&I): −$970
• Tax from tax record: −$214 /mo · $2,572/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $450

Break-even live

Break-even rent $1,597

Max offer price $185,000

Occupancy floor 74%

Sensitivity live

Price	-10% $555	-5% $502	+0% $450	+5% $397	+10% $345
Rent	-10% $279	-5% $364	+0% $450	+5% $535	+10% $621
Rate	-1.0pp $543	-0.5pp $497	base $450	+0.5pp $402	+1.0pp $353

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3413 Yardley Dr Dundalk, MD	4.0	2.0	1185	$2,400	$2.03	44d	1	0.14mi
3503 Sollers Point Rd Dundalk, MD	3.0	1.0	776	$1,850	$2.38	13d	1	0.30mi
7718 Meath Rd Dundalk, MD	3.0	2.0	864	$2,200	$2.55	44d	1	0.42mi
217 Center St Dundalk, MD	3.0	1.5	1280	$1,575	$1.23	5d	1	0.49mi
214 Center St Dundalk, MD	3.0	1.5	992	$1,795	$1.81	11d	1	0.50mi
2959 Liberty Pkwy Dundalk, MD	3.0	2.0	1479	$2,150	$1.45	44d	1	0.64mi
511 Avondale Rd Dundalk, MD	2.0–4.0	1.0–2.0	1146	$2,250	$1.96	2d	69	0.64mi
8220 Cornwall Rd Dundalk, MD	3.0	2.0	1125	$1,775	$1.58	44d	1	0.81mi
8252 Longpoint Rd Dundalk, MD	4.0	2.0	1216	$1,950	$1.60	4d	1	0.93mi
8252 Longpoint Rd Dundalk, MD	4.0	2.0	1216	$2,050	$1.69	17d	1	0.93mi
2624 Liberty Pkwy Dundalk, MD	3.0	1.5	1110	$1,856	$1.67	44d	1	1.02mi
12 Leeway Dundalk, MD	3.0	1.0	1358	$1,750	$1.29	44d	1	1.05mi
6537 Baltimore Ave Baltimore, MD	3.0	1.0	1272	$1,700	$1.34	2d	1	1.16mi
1915 Merritt Blvd Dundalk, MD	3.0	2.0	1208	$2,500	$2.07	44d	1	1.17mi
266 Saint Helena Ave Dundalk, MD	3.0	1.0	1305	$1,900	$1.46	13d	1	1.21mi
7901 Stratman Rd Dundalk, MD	3.0	1.0	890	$1,647	$1.85	3d	1	1.39mi
2020 Dineen Dr Dundalk, MD	3.0	1.5	1258	$1,850	$1.47	5d	1	1.47mi

Listing history 2 events

1. 2026-02-09
   status Pending
2. 2025-11-28
   listed $185,000 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: $2,572 · $214/mo
• Projected year-2 tax: $2,572 · $214/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 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 56% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,996
• − Mortgage interest: −$10,363
• − Property taxes: −$2,572
• − Insurance: −$925
• − Repairs & maintenance: −$2,080
• − Management: −$2,080
• − Depreciation: −$5,382
• Taxable income: $2,595
• Est. tax owed @ 24.0%: −$623
• After-tax cash flow: $4,775/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: Baltimore County Public Schools
• NCES district ID: 2400120
• Math proficiency: 15% ▼ -16.00%
• Reading proficiency: 34% ▼ -5.00%
• Median HH income: $66,746
• Composite: 23.17/100
• National rank: #7948
• State rank: #11 of 24 in MD

Livability — Dundalk

• Score: 85/100
• State rank: #16
• US rank: #510

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dundalk, MD
• County: Baltimore County · 769,527 people
• City population: 59,407
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 59,407
• Household income: $64,141
• Rent vs Own: 35.1% rent · 64.9% own
• Severe rent burden: 2566.0

Population outlook (Baltimore County) Hauer SSP2

• Today (2025): 885,518 people
• By 2030: 909,272 · +2.7%
• By 2040: 951,547 · +7.5%
• By 2050: 990,955 · +11.9%
• By 2075: 1,086,411 · +22.7%
• By 2100: 1,135,078 · +28.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 59% Black 18% Hispanic / Latino 15% Two or more races 7% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Romanian 7% Lithuanian 1% Italian 1%
• Foreign-born: 9% · Canada
• Languages at home: 85% English-only · Spanish 11% Other Indo-European 2% Arabic 1%

Political lean MEDSL · Baltimore

• 2024 margin: Strong D (+24.5) · D 61.0% · R 36.5% · Other 2.5%
• 2008→2024 swing: +9.9pp toward D · 2008: 14.6pp · 2024: 24.5pp
• All cycles: 2024: D+24.5 2020: D+27.0 2016: D+17.4 2012: D+16.4 2008: D+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -251.44%
• Current HPI: 228.4218
• Rent YoY: ▼ -0.09%
• 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

2 events — show timeline

• 2026-02-09 Pending — BRIGHT MLS
• 2025-11-28 Listed $185,000 BRIGHT MLS

Property tax history

+3.4%/yr

Latest (2025): $2,572 · +12.0% YoY. Source: county tax records.