106 Gwen Dr Unit 106-2F · Bel Air North, MD 21050

$250,000

3 bd · 2.0 ba · 1,265 sqft · Condo public records · 18 Days on market

Built 1993 $260/mo HOA · 11% of rent

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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).

• Cash flow +14.2/30.0
• ARV discount +7.5/15.0
• 1% rule +4.5/10.0
• DSCR +4.3/10.0
• Livability +4.1/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well Maintained Second Floor Rear Unit! Freshly Painted Throughout! New Laminate Floor Throughout Main Living Area! This Three Bedroom, Two Full Bath Condominium in Forest Hill is in Great Condition! Kitchen with Ample Cabinetry and Pantry Features Breakfast/Eat In Area. Formal Living Room and Dining Room is Open! Owners Bedroom Features a Walk In Closet and En Suite Bathroom with Tub and Shower. Two Additional Bedrooms In This Condo Provide A Flexible Floor Plan, Use One Bedroom as a Den/Office Area! Hall Bathroom Features Full Tub and Shower As Well. The Views in this Rear Facing Unit Are Gorgeous! Natures Pallet Changes Seasonally For Your Viewing Pleasure! Rear Facing Balcony As Well! Close to Everything and Bel Air! Owner Is Offering One Year Home Warranty to Buyer! SOLD AS IS! Well Priced!

Key facts

• $260 HOA
• Built 1993
• Listed 18 days

Property features AI

Finance

• Financial info: Lease not considered
• HOA & community: Monthly HOA fee; HOA covers lawn maintenance, snow removal and trash

Exterior

• Parking: Parking lot
• Security: Sprinkler system
• Utilities: Public water; Public sewer; Natural gas hot water; Natural gas heating; Electric cooling; Municipal trash not provided
• Home design: Garden-style building (1–4 floors); Unit/flat; Entry on level 2; Fee simple ownership; Property in excellent condition
• Construction: Brick construction; Building not winterized; Finished area above grade (assessor)
• Exterior features: Not in a federal flood zone; Above grade and below grade structures; Pets allowed with size/weight restrictions and case-by-case approval

Interior

• Kitchen: Built-in microwave; Oven/range - electric; Refrigerator; Icemaker; Stainless steel appliances; Breakfast room (adjoining kitchen)
• Bedrooms: Three bedrooms on the main level
• Flooring: Carpet
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Forced air heating; Natural gas heating; Central air conditioning; Central A/C (electric)
• Interior features: Tub/shower; Breakfast area; Carpeted areas; Ceiling fan(s); Sprinkler system; Walk-in closets; Intercom; Water heater
• Laundry & utility: Washer and dryer stacked in unit; Washer in unit; Washer/dryer hookup in unit; Energy-efficient appliances

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $250k.

Deal economics

• At list price, monthly cash flow is $42 ($504/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 $238k (4.7% below list).
• Recommended offer: $238k (4.7% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 4.2% in Bel Air North — 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 82/100 on livability (#35 in MD, #1,269 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, health & safety A+; Watch: crime C-, amenities C-, cost of living F.
• 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: 79 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 803 units permitted in Harford County in 2024 (26 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.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $238,303 (4.7% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-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?
5. 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?
6. 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.
7. 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.
8. 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: 0.95% ✗
• Cap rate: 6.49%
• Cash-on-cash: 0.72%
• DSCR: 1.03
• GRM: 8.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -15.1%
• Equity multiple: 0.46×
• Total profit: $-37,729
• Equity at exit: $37,276

10-year hold

• IRR: -6.4%
• Equity multiple: 0.59×
• Total profit: $-28,979
• Equity at exit: $21,615

Cash invested: $70,000 (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 21050

• Home prices YoY: -31.5%
• Active inventory: 79
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $2,383 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$165 /mo · $1,985/yr
• Insurance: −$104
• HOA: −$260
• Vacancy / Maint / Mgmt: −$500
• Net cashflow: $42

Break-even live

Break-even rent $2,330

Max offer price $250,000

Occupancy floor 93%

Sensitivity live

Price	-10% $184	-5% $113	+0% $42	+5% $-29	+10% $-99
Rent	-10% $-146	-5% $-52	+0% $42	+5% $136	+10% $230
Rate	-1.0pp $168	-0.5pp $106	base $42	+0.5pp $-23	+1.0pp $-89

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2107 Mardic Dr Forest Hill, MD	3.0	2.5	1720	$2,800	$1.63	18d	1	0.66mi
114 Drexel Dr Bel Air, MD	3.0	1.5	1400	$3,000	$2.14	44d	1	0.67mi
218 Aster Ln Forest Hill, MD	2.0	1.0	1248	$1,600	$1.28	13d	1	0.80mi
407 Aggies Cir #4 Bel Air, MD	3.0	2.0	1120	$2,000	$1.79	5d	1	1.33mi
1302 Roman Ridge Way Bel Air, MD	3.0	2.0	1456	$2,250	$1.55	18d	1	1.44mi

HOA detail condo

• Monthly dues: $260 · $3,120/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-05-06
   listed $250,000 Active 539-char remark
2. 2026-04-30
   historical $250,000 539-char remark
3. 2020-08-25
   soldstatus $165,000
4. 2020-08-12
   soldstatus $165,000 Closed 818-char remark

   Show marketing remark (818 chars)

   Well Maintained Second Floor Rear Unit! Freshly Painted Throughout! New Laminate Floor Throughout Main Living Area! This Three Bedroom, Two Full Bath Condominium in Forest Hill is in Great Condition! Kitchen with Ample Cabinetry and Pantry Features Breakfast/Eat In Area. Formal Living Room and Dining Room is Open! Owners Bedroom Features a Walk In Closet and En Suite Bathroom with Tub and Shower. Two Additional Bedrooms In This Condo Provide A Flexible Floor Plan, Use One Bedroom as a Den/Office Area! Hall Bathroom Features Full Tub and Shower As Well. The Views in this Rear Facing Unit Are Gorgeous! Natures Pallet Changes Seasonally For Your Viewing Pleasure! Rear Facing Balcony As Well! Close to Everything and Bel Air! Owner Is Offering One Year Home Warranty to Buyer! SOLD AS IS! Well Priced!

5. 2020-07-07
   status Pending 818-char remark

   Show marketing remark (818 chars)

   Well Maintained Second Floor Rear Unit! Freshly Painted Throughout! New Laminate Floor Throughout Main Living Area! This Three Bedroom, Two Full Bath Condominium in Forest Hill is in Great Condition! Kitchen with Ample Cabinetry and Pantry Features Breakfast/Eat In Area. Formal Living Room and Dining Room is Open! Owners Bedroom Features a Walk In Closet and En Suite Bathroom with Tub and Shower. Two Additional Bedrooms In This Condo Provide A Flexible Floor Plan, Use One Bedroom as a Den/Office Area! Hall Bathroom Features Full Tub and Shower As Well. The Views in this Rear Facing Unit Are Gorgeous! Natures Pallet Changes Seasonally For Your Viewing Pleasure! Rear Facing Balcony As Well! Close to Everything and Bel Air! Owner Is Offering One Year Home Warranty to Buyer! SOLD AS IS! Well Priced!

6. 2020-07-07
   price $165,000 818-char remark

   Show marketing remark (818 chars)

   Well Maintained Second Floor Rear Unit! Freshly Painted Throughout! New Laminate Floor Throughout Main Living Area! This Three Bedroom, Two Full Bath Condominium in Forest Hill is in Great Condition! Kitchen with Ample Cabinetry and Pantry Features Breakfast/Eat In Area. Formal Living Room and Dining Room is Open! Owners Bedroom Features a Walk In Closet and En Suite Bathroom with Tub and Shower. Two Additional Bedrooms In This Condo Provide A Flexible Floor Plan, Use One Bedroom as a Den/Office Area! Hall Bathroom Features Full Tub and Shower As Well. The Views in this Rear Facing Unit Are Gorgeous! Natures Pallet Changes Seasonally For Your Viewing Pleasure! Rear Facing Balcony As Well! Close to Everything and Bel Air! Owner Is Offering One Year Home Warranty to Buyer! SOLD AS IS! Well Priced!

7. 2020-07-02
   listed $160,000 Active 818-char remark

   Show marketing remark (818 chars)

   Well Maintained Second Floor Rear Unit! Freshly Painted Throughout! New Laminate Floor Throughout Main Living Area! This Three Bedroom, Two Full Bath Condominium in Forest Hill is in Great Condition! Kitchen with Ample Cabinetry and Pantry Features Breakfast/Eat In Area. Formal Living Room and Dining Room is Open! Owners Bedroom Features a Walk In Closet and En Suite Bathroom with Tub and Shower. Two Additional Bedrooms In This Condo Provide A Flexible Floor Plan, Use One Bedroom as a Den/Office Area! Hall Bathroom Features Full Tub and Shower As Well. The Views in this Rear Facing Unit Are Gorgeous! Natures Pallet Changes Seasonally For Your Viewing Pleasure! Rear Facing Balcony As Well! Close to Everything and Bel Air! Owner Is Offering One Year Home Warranty to Buyer! SOLD AS IS! Well Priced!

8. 2004-08-02
   soldstatus $169,500
9. 2004-06-30
   soldstatus $169,500

   Show marketing remark (401 chars)

   Well maintained Condo on Mid-Floor, just one level up from the street. Plenty of parking right outside your door. Unit is on the back of building, with balcony backing to trees for privacy! All appliances are included! Replacement windows are approx 4 yrs old. Private Master Bath & huge walk-in closet. Sep laundry/utility rm. 3rd Bedroom shown is actually Den. Great location and a great unit!

10. 2004-04-22
    historical

    Show marketing remark (401 chars)

    Well maintained Condo on Mid-Floor, just one level up from the street. Plenty of parking right outside your door. Unit is on the back of building, with balcony backing to trees for privacy! All appliances are included! Replacement windows are approx 4 yrs old. Private Master Bath & huge walk-in closet. Sep laundry/utility rm. 3rd Bedroom shown is actually Den. Great location and a great unit!

11. 2004-04-18
    listed $169,500

    Show marketing remark (401 chars)

    Well maintained Condo on Mid-Floor, just one level up from the street. Plenty of parking right outside your door. Unit is on the back of building, with balcony backing to trees for privacy! All appliances are included! Replacement windows are approx 4 yrs old. Private Master Bath & huge walk-in closet. Sep laundry/utility rm. 3rd Bedroom shown is actually Den. Great location and a great unit!

12. 1993-06-17
    soldstatus $98,145

ⓘ 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: $1,985 · $165/mo
• Projected year-2 tax: $2,355 · $196/mo
• Expected delta: +$370/yr (+$31/mo · 18.7%)

ⓘ 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 ≥106°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,596
• − Mortgage interest: −$14,004
• − Property taxes: −$1,985
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,288
• − Management: −$2,288
• − HOA: −$3,120
• − Depreciation: −$7,273
• Taxable loss: −$3,610
• Est. tax savings @ 24.0%: +$866
• After-tax cash flow: $1,371/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: Harford County Public Schools
• NCES district ID: 2400390
• Math proficiency: 22% ▼ -23.00%
• Reading proficiency: 39% ▼ -12.00%
• Median HH income: $79,569
• Composite: 29.38/100
• National rank: #6527
• State rank: #9 of 24 in MD

Livability — Bel Air North

• Score: 82/100
• State rank: #35
• US rank: #1269

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bel Air North, MD
• Population (ZIP): 17,848

Population outlook (Harford County) Hauer SSP2

• Today (2025): 262,292 people
• By 2030: 266,437 · +1.6%
• By 2040: 269,954 · +2.9%
• By 2050: 265,659 · +1.3%
• By 2075: 252,886 · -3.6%
• By 2100: 224,014 · -14.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 1% Black 1% Asian 1%
• Common ancestry: Romanian 7% Slovak 4% Lithuanian 2%
• Foreign-born: 3% · South Korea
• Languages at home: 95% English-only · Spanish 2% German/W. Germanic 1% Other Indo-European 1%

Political lean MEDSL · Harford

• 2024 margin: R (+13.8) · D 41.9% · R 55.7% · Other 2.4%
• 2008→2024 swing: +5.0pp toward D · 2008: -18.8pp · 2024: -13.8pp
• All cycles: 2024: R+13.8 2020: R+12.0 2016: R+24.5 2012: R+19.5 2008: R+18.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -115.38%
• Current HPI: 250.4308
• Rent YoY: —
• Metro: —
• 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

+154.7% since first listed

14 events — show timeline

• 2026-06-15 Sold (MLS) $250,000 BRIGHT MLS
• 2026-05-24 Pending — BRIGHT MLS
• 2026-05-06 Listed $250,000 BRIGHT MLS
• 2026-04-30 Coming Soon $250,000 BRIGHT MLS
• 2020-08-25 Sold (Public Records) $165,000 Public Records
• 2020-08-12 Sold (MLS) $165,000 BRIGHT MLS
• 2020-07-07 Pending — BRIGHT MLS
• 2020-07-07 Price Changed $165,000 BRIGHT MLS
• 2020-07-02 Listed $160,000 BRIGHT MLS
• 2004-08-02 Sold (Public Records) $169,500 Public Records
• 2004-06-30 Sold (MLS) $169,500 MRIS
• 2004-04-22 Delisted — MRIS
• 2004-04-18 Listed $169,500 MRIS
• 1993-06-17 Sold (Public Records) $98,145 Public Records

Property tax history

+0.2%/yr

Latest (2025): $1,985 · +5.0% YoY. Source: county tax records.