8000 Harford Rd · Parkville, MD 21234

$269,000

4 bd · 2.0 ba · 1,750 sqft · MultiFamily public records · 17 Days on market

Built 1938 3,821 sqft lot Est $362k · 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 +19.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.2/10.0
• 1% rule +4.9/10.0
• Rent growth +4.2/5.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Well maintained two unit apartment property featuring one - bedroom units plus a den that could be used as a second bedroom. Each unit offers beautiful hardwood floors and updated electrical systems. The property includes off street parking and a recently installed new roof for added peace of mind. Fully rented, making it a great turnkey investment opportunity. End of group location with convenient access to public transportation and walking distance to nearby shopping.

Key facts

• 3,821 sq ft lot
• Parking
• Built 1938

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/1.0-bath units multifamily listed at $269k.

Deal economics

• At list price, monthly cash flow is $308 ($4k/yr) — positive. Per door: $154/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $268k (0.6% below list).
• Recommended offer: $265k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 5.3% in Parkville — 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 77/100 on livability (#77 in MD, #2,839 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: schools F, 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 rising fast (+6.7%/yr); 225 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,511 units permitted in Baltimore County in 2024 (643 in 5+ unit buildings).
• This rent runs 38% of the median local income ($84k/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 $2k of loan paydown is wiped out by about $8k 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.
• At projected returns (-3.0% appreciation + 6.7% rent growth), your $75k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($265k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $36k; list at $269k implies a 637% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $264,965 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1938 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 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: 0.99% ✗
• Cap rate: 7.67%
• Cash-on-cash: 4.91%
• DSCR: 1.22
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $362,250
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2528 Wendover Rd	0.52mi	5/— (+1)	1,704 (-3%)	17mo	$351,900	$207	52

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 · 6.68% rent growth · sell at horizon

5-year hold

• IRR: -4.7%
• Equity multiple: 0.82×
• Total profit: $-13,690
• Equity at exit: $40,109

10-year hold

• IRR: 8.8%
• Equity multiple: 1.78×
• Total profit: $58,839
• Equity at exit: $23,258

Cash invested: $75,320 (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 21234

• Rents YoY: 6.7%
• Active inventory: 225
• Price-to-rent: 16.8×

Monthly cashflow live

• Estimated rent: $2,675 high
• Mortgage (P&I): −$1,411
• Tax from tax record: −$282 /mo · $3,389/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$562
• Net cashflow: $308

Break-even live

Break-even rent $2,285

Max offer price $269,000

Occupancy floor 83%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,676
Total (2 units)			$2,675

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: $67,250
• Closing costs: $8,070
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3017 Lavender Ave Parkville, MD	3.0	3.0	2325	$2,699	$1.16	10d	1	0.19mi
2912 Hillcrest Ave Parkville, MD	5.0	2.0	1648	$2,900	$1.76	43d	1	0.34mi
2518 Linwood Rd Parkville, MD	3.0	1.5	1946	$2,200	$1.13	16d	1	0.73mi
8500 Arry Pl Parkville, MD	3.0	2.5	2100	$2,500	$1.19	43d	1	0.79mi
2518 Moore Ave Parkville, MD	4.0	1.5	1896	$2,700	$1.42	43d	1	0.91mi
3158 Woodring Ave Parkville, MD	3.0	1.5	1500	$1,950	$1.30	23d	1	0.93mi
3617 Double Rock Ln Parkville, MD	3.0	2.5	2000	$2,395	$1.20	5d	1	1.12mi
3412 Fleetwood Ave Baltimore, MD	3.0	2.5	1620	$2,195	$1.35	43d	1	1.17mi
3407 Orbitan Rd Parkville, MD	3.0	1.5	1508	$2,200	$1.46	23d	1	1.28mi
8768 Cimarron Cir Parkville, MD	4.0	1.5	1752	$2,395	$1.37	23d	1	1.29mi
5 Belhaven Dr Nottingham, MD	4.0	1.5	1554	$2,000	$1.29	43d	1	1.33mi
1376 Halstead Rd Parkville, MD	3.0	1.0	1440	$2,400	$1.67	23d	1	1.37mi
7202 Sindall Rd Unit 7202 Parkville, MD	3.0	1.0	1350	$1,850	$1.37	43d	1	1.44mi
7935 Belridge Rd Nottingham, MD	1.0–3.0	1.0–1.5	974	$2,172	$2.23	2d	17	1.47mi
2908 5th Ave Parkville, MD	3.0	1.0	1260	$1,950	$1.55	43d	1	1.49mi

Listing history 4 events

1. 2026-04-23
   status Pending
2. 2026-04-07
   listed $269,000 Active
3. 2026-03-31
   historical $269,000
4. 1979-05-18
   soldstatus $36,500

ⓘ 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: $3,389 · $282/mo
• Projected year-2 tax: $3,389 · $282/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,100
• − Mortgage interest: −$15,068
• − Property taxes: −$3,389
• − Insurance: −$1,345
• − Repairs & maintenance: −$2,568
• − Management: −$2,568
• − Depreciation: −$7,825
• Taxable loss: −$664
• Est. tax savings @ 24.0%: +$159
• After-tax cash flow: $3,856/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 — Parkville

• Score: 77/100
• State rank: #77
• US rank: #2839

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Parkville, MD
• County: Baltimore County · 769,527 people
• City population: 66,334
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 66,334
• Household income: $83,517
• Rent vs Own: 35.5% rent · 64.5% own
• Severe rent burden: 2719.0

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 0.58)
• Race & ethnicity: White 58% Black 28% Asian 5% Hispanic / Latino 5% Two or more races 5%
• Common ancestry: Romanian 5% Lithuanian 1% Italian 1%
• Foreign-born: 10% · Canada, China, South Korea
• Languages at home: 89% English-only · Spanish 3% Other Indo-European 2% Tagalog/Filipino 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: ▼ -247.04%
• Current HPI: 254.3824
• Rent YoY: ▲ 6.68%
• 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

+637.0% since first listed

4 events — show timeline

• 2026-04-23 Pending — BRIGHT MLS
• 2026-04-07 Listed $269,000 BRIGHT MLS
• 2026-03-31 Coming Soon $269,000 BRIGHT MLS
• 1979-05-18 Sold (Public Records) $36,500 Public Records

Property tax history

+3.1%/yr

Latest (2025): $3,389 · +11.9% YoY. Source: county tax records.