1921 Chipper Dr #346 · Edgewood, MD 21040

$34,900

2 bd · 2.0 ba · 980 sqft · Manufactured · 50 Days on market

Manufactured home Built 2026 Good condition

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Rent growth +3.7/5.0
• Livability +3.7/5.0
• Appreciation +2.5/10.0
• Schools +2.5/10.0
• Manufactured-home adj. -5.9

Listing remarks

* THIS IS A RESALE LISTING * You'll love living in this 2 bedroom, 2 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as community events, a playground, a clubhouse, and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

Key facts

• Built 2026
• Listed 50 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $35k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $795 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $34k (3.0% below list) — sets the bar for market timing.
• Cap rate 33.6% vs local median 5.6% in Edgewood — 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 73/100 on livability (#118 in MD, #4,991 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: amenities D, crime 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.
• Zoned schools: Old Post Road Elementary (math 7% / reading 9%, grade F, #674 of 860 statewide, top 79%, 842 students, 80% FRL); Edgewood Middle (math 7% / reading 31%, grade F, #155 of 225 statewide, top 70%, 999 students, 72% FRL); Edgewood High (math 43% / reading 54%, grade D, #111 of 222 statewide, top 50%, 1,415 students, 62% FRL) — zoned schools average 71% FRL vs 24% district-wide (47 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.9%/yr); 181 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 29d on market — plan ~3-4 weeks tenant-placement turnaround); 46% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $241 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.9% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($34k) is reasonable based on typical stale-listing flexibility.

Recommended offer $33,853 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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 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?
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: 3.76% ✓
• Cap rate: 33.62%
• Cash-on-cash: 97.59%
• DSCR: 5.34
• GRM: 2.2

CMA / ARV

• ARV (on-the-fly): $123,480
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1919 Chipper Dr	0.03mi	2/2.0	980 (0%)	4mo	$66,000	$67	95
1944 Chipper Dr	0.08mi	2/1.0	980 (0%)	3mo	$33,500	$34	90
1959 Chipper Dr	0.13mi	2/1.0	1,000 (+2%)	0mo	$25,000	$25	86
2019 Kenny Ct	0.23mi	2/2.0	1,008 (+3%)	2mo	$15,000	$15	83
911 N Angel Valley Ct	0.84mi	2/1.5	930 (-5%)	4mo	$220,000	$237	51
1305-K Clover Valley Way #1305	0.72mi	2/2.0	900 (-8%)	5mo	$108,000	$120	49
1006-C Crimson Tree Way Unit 23C	0.45mi	3/1.5 (+1)	1,202 (+23%)	3mo	$115,000	$96	45
1309-J Clover Valley Way Unit 1309-J	0.64mi	2/2.0	1,150 (+17%)	3mo	$153,000	$133	43
1730-C Fountain Rock Way Unit 1730-C	0.71mi	2/1.0	882 (-10%)	5mo	$111,300	$126	42
1503 Green Rd	0.78mi	3/1.0 (+1)	1,073 (+10%)	4mo	$325,000	$303	37
1421 Saint Michael Ct	1.06mi	3/2.0 (+1)	1,224 (+25%)	5mo	$250,000	$204	31
1415 St Christopher Ct	1.03mi	3/1.5 (+1)	1,224 (+25%)	4mo	$230,000	$188	30

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 · 4.92% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 5.87×
• Total profit: $47,564
• Equity at exit: $5,204

10-year hold

• IRR: —
• Equity multiple: 13.04×
• Total profit: $117,694
• Equity at exit: $3,018

Cash invested: $9,772 (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 →

Active competition Active MLS

• For sale now: 3 active
• Median asking: $49,900 ($60/sqft)
• Median days on market: 162 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +110.1% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 21040

• Home prices YoY: -29.4%
• Rents YoY: 4.9%
• Active inventory: 181
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $1,311 high
• Mortgage (P&I): −$183
• Tax est. 1.5%: −$44 /mo · $524/yr
• Insurance: −$15
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $795

Break-even live

Break-even rent $305

Max offer price $34,900

Occupancy floor 34%

Sensitivity live

Price	-10% $819	-5% $807	+0% $795	+5% $783	+10% $771
Rent	-10% $691	-5% $743	+0% $795	+5% $847	+10% $898
Rate	-1.0pp $812	-0.5pp $804	base $795	+0.5pp $786	+1.0pp $776

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: $8,725
• Closing costs: $1,047
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1754 Judy Way Edgewood, MD	3.0	2.0	1054	$1,795	$1.70	7d	1	0.39mi
1772 Judy Way Edgewood, MD	3.0	1.5	1040	$2,195	$2.11	139d	1	0.42mi
1830 Eloise Ln Edgewood, MD	3.0	1.5	1040	$1,700	$1.63	7d	1	0.48mi
905 Woodbridge Ct Unit F Edgewood, MD	2.0	2.0	950	$1,900	$2.00	10d	1	0.49mi
1709 Crimson Tree Way Unit 5D Edgewood, MD	2.0	1.0	1100	$1,525	$1.39	10d	1	0.54mi
905 Swallow Crest Ct Unit E Edgewood, MD	2.0	1.0	990	$1,495	$1.51	139d	1	0.55mi
1703 Fountain Rock Way Unit 1703-B Edgewood, MD	2.0	1.0	882	$1,250	$1.42	119d	1	0.63mi
905 Woodbridge Ct Edgewood, MD	2.0	1.0–2.0	975	$1,745	$1.79	23d	2	0.63mi
814 Windstream Way Unit 814-A Edgewood, MD	1.0	1.0	882	$1,200	$1.36	139d	1	0.85mi
802 Kingston Ct Edgewood, MD	1.0–3.0	1.0–1.5	1007	$1,689	$1.68	0d	24	0.99mi
570 Meadowood Dr Edgewood, MD	2.0–3.0	1.0–1.5	990	$1,401	$1.42	28d	2	1.12mi
404 Liberty Ct Edgewood, MD	3.0	2.0	1008	$1,950	$1.93	88d	1	1.17mi
1473 Charlestown Dr Edgewood, MD	3.0	1.5	1100	$2,100	$1.91	43d	1	1.40mi

Listing history 9 events

1. 2026-06-09
   days on market $34,900 Active 50 DOM
2. 2026-06-08
   days on market $34,900 Active 49 DOM
3. 2026-06-07
   days on market $34,900 Active 48 DOM
4. 2026-06-04
   pricedays on market $34,900 Active 45 DOM
5. 2026-06-03
   days on market $39,900 Active 44 DOM
6. 2026-06-02
   days on market $39,900 Active 43 DOM
7. 2026-06-01
   pricedays on market $39,900 Active 42 DOM
8. 2026-05-31
   days on market $39,400 Active 41 DOM
9. 2026-04-20
   listed $39,400 Active 399-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $15,736
• − Mortgage interest: −$1,955
• − Property taxes: −$524
• − Insurance: −$174
• − Repairs & maintenance: −$1,259
• − Management: −$1,259
• − Depreciation: −$1,015
• Taxable income: $9,550
• Est. tax owed @ 24.0%: −$2,292
• After-tax cash flow: $7,245/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab Est. rehab $4,900–$14,700 screening

This 2-bedroom, 2-bathroom manufactured home is in excellent condition with recent updates, making it move-in ready for both resale and rental.

Value-add opportunities

• Both Paint exterior siding — Fresh paint can enhance curb appeal and value ↑
• Both Replace air conditioning unit — Modern unit improves comfort and energy efficiency ↑
• Both Install new outdoor lighting — Enhances safety and curb appeal ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 25/100

Zoned Schools

Elementary Old Post Road Elementary F MD #674/860 Nat'l #39,822/41,679 Middle Edgewood Middle F MD #155/225 Nat'l #11,948/14,009 High Edgewood High D MD #111/222 Nat'l #6,127/17,239

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

B Composite livability gradescore 73/100

Livability — Edgewood

• Score: 73/100
• State rank: #118
• US rank: #4991

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Edgewood, MD
• County: Harford County · 262,292 people
• City population: 24,960
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 24,960
• Household income: $81,704
• Rent vs Own: 28.9% rent · 71.1% own
• Severe rent burden: 16% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: Black 45% White 36% Two or more races 11% Hispanic / Latino 10% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Romanian 4% Slovak 1% Italian 1%
• Foreign-born: 8% · Canada, South Korea
• Languages at home: 89% English-only · Spanish 5% Russian/Polish/Slavic 2% German/W. Germanic 1%

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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: ▼ -106.14%
• Current HPI: 254.2305
• Rent YoY: ▲ 4.92%
• Metro: Baltimore-Columbia-Towson, MD
• State GDP YoY: ▲ 2.97%
• F500 in state: 12

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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