6 Chesley Ave · Overlea, MD 21206

$185,000

3 bd · 1.0 ba · 1,088 sqft · SingleFamily public records · 4 Days on market

Built 1924 7,250 sqft lot Est $261k · 29% under

---

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 +21.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +5.6/10.0
• Livability +4.0/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

3-bedroom, 1 full and 1 half bath detached Cape Cod in Overlea offering a renovation opportunity with significant transformation potential. The property requires a full rehabilitation, providing a blank canvas for extensive updates and customization. The home includes three upper-level bedrooms and a full bath, plus a partially finished lower level with a half bath and additional flexible space. An asphalt driveway provides off-street parking for up to five vehicles, adding valuable convenience for a future renovation project.

Key facts

• Off-street parking
• 7,250 sq ft lot
• 5 parking spots

Tags

• OFF-STREET PARKING
• PARTIALLY FINISHED LOWER LEVEL

Property features AI

Finance

• Financial info: Fee simple ownership

Exterior

• Parking: Asphalt driveway; Driveway parking (5 spaces); On-street parking
• Utilities: Natural gas for heating and hot water; Public water; Public sewer
• Home design: Detached structure; Block construction
• Construction: Block construction; Slab foundation; Major rehab needed
• Exterior features: Public water; Public sewer

Interior

• Bedrooms: Three bedrooms on the upper level
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Radiator heating; Natural gas heat; Natural gas hot water
• Interior features: Partial basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $274 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Cap rate 8.1% vs local median 5.3% in Overlea — 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 81/100 on livability (#38 in MD, #1,418 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 rising fast (+4.4%/yr); 180 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 1,511 units permitted in Baltimore County in 2024 (643 in 5+ unit buildings).
• This rent runs 36% of the median local income ($65k/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

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $12k; list at $185k implies a 1509% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — 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 $185,000

Questions for the listing agent

1. Built in 1924 — 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. 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?
4. 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.
5. 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.
6. 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: 1.06% ✓
• Cap rate: 8.07%
• Cash-on-cash: 6.36%
• DSCR: 1.28
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $261,120
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10 Walnut Ave	0.07mi	3/1.0	1,120 (+3%)	16mo	$226,600	$202	78
3801 W Overlea Ave	0.37mi	2/2.0 (-1)	1,125 (+3%)	1mo	$270,000	$240	67
4006 Fleetwood Ave	0.25mi	3/2.0	1,200 (+10%)	1mo	$226,000	$188	66
709 Elmwood Rd	0.43mi	3/2.0	1,067 (-2%)	15mo	$340,000	$319	60
6619 Fairdel Ave	0.62mi	4/2.0 (+1)	1,125 (+3%)	14mo	$328,000	$292	45
4313 Forest View Ave	0.66mi	3/2.0	1,244 (+14%)	5mo	$172,000	$138	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 · 4.43% rent growth · sell at horizon

5-year hold

• IRR: -4.9%
• Equity multiple: 0.81×
• Total profit: $-9,620
• Equity at exit: $27,584

10-year hold

• IRR: 6.4%
• Equity multiple: 1.51×
• Total profit: $26,284
• 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 21206

• Rents YoY: 4.4%
• Active inventory: 180
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,955 high
• Mortgage (P&I): −$970
• Tax from tax record: −$223 /mo · $2,671/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$411
• Net cashflow: $274

Break-even live

Break-even rent $1,607

Max offer price $185,000

Occupancy floor 81%

Sensitivity live

Price	-10% $379	-5% $327	+0% $274	+5% $222	+10% $170
Rent	-10% $120	-5% $197	+0% $274	+5% $352	+10% $429
Rate	-1.0pp $368	-0.5pp $322	base $274	+0.5pp $227	+1.0pp $178

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
3807 Fleetwood Ave Unit 1 Baltimore, MD	2.0	1.0	969	$1,490	$1.54	5d	1	0.40mi
3807 Fleetwood Ave Unit 2 Baltimore, MD	3.0	1.0	937	$1,550	$1.65	5d	1	0.40mi
35-C Mopec Cir Nottingham, MD	2.0	1.0	1100	$1,445	$1.31	0d	9	0.43mi
101 Elinor Ave Nottingham, MD	4.0	2.0	1476	$2,900	$1.96	45d	1	0.70mi
6410 Walther Ave Baltimore, MD	2.0	1.0–2.0	1195	$1,995	$1.67	45d	7	0.73mi
5110 Kenwood Ave Baltimore, MD	3.0	1.5	1406	$2,500	$1.78	45d	1	0.76mi
5938 Clayton Ave Baltimore, MD	4.0	2.0	1296	$2,872	$2.22	17d	1	0.89mi
3158 Woodring Ave Parkville, MD	3.0	1.5	1500	$1,950	$1.30	25d	1	0.98mi
4111 Century Rd Baltimore, MD	3.0	1.5	1432	$2,500	$1.75	45d	1	1.09mi
5906 Benton Heights Ave Baltimore, MD	2.0	1.0	780	$1,350	$1.73	45d	1	1.15mi
3108 Glendale Ave Parkville, MD	3.0	3.0	1224	$2,550	$2.08	25d	1	1.16mi
3010 Woodring Ave Unit 2 Baltimore, MD	2.0	1.0	900	$1,600	$1.78	45d	1	1.25mi
5738 Cedonia Ave Baltimore, MD	2.0	1.0	797	$1,385	$1.74	4d	3	1.33mi
3607 Bayonne Ave Unit 2 Baltimore, MD	2.0	1.0	900	$1,300	$1.44	25d	1	1.41mi
4308 Hamilton Ave Baltimore, MD	2.0	1.0	1110	$1,416	$1.28	25d	1	1.44mi
5676 Utrecht Rd Baltimore, MD	3.0	2.0	1334	$2,195	$1.65	0d	1	1.46mi
5632 Belair Rd Baltimore, MD	3.0	1.5	1260	$2,100	$1.67	25d	1	1.50mi

Listing history 5 events

1. 2026-06-21
   days on market $185,000 Active 4 DOM
2. 2026-06-18
   statusdays on market $185,000 Active 1 DOM
3. 2026-06-17
   days on market $185,000 Coming Soon 2 DOM
4. 2026-06-15
   remarks 532-char remark
5. 2026-06-15
   listed $185,000 Coming Soon 1 DOM

ⓘ 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: $2,671 · $223/mo
• Projected year-2 tax: $2,671 · $223/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 ≥103°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: $23,458
• − Mortgage interest: −$10,363
• − Property taxes: −$2,671
• − Insurance: −$925
• − Repairs & maintenance: −$1,877
• − Management: −$1,877
• − Depreciation: −$5,382
• Taxable income: $364
• Est. tax owed @ 24.0%: −$87
• After-tax cash flow: $3,206/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 — Overlea

• Score: 81/100
• State rank: #38
• US rank: #1418

Category grades

Amenities A+ Commute A+ Cost of living B 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: Overlea, MD
• County: Baltimore City · 558,601 people
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 48,902
• Household income: $64,531
• Rent vs Own: 46.8% rent · 53.2% own
• Severe rent burden: 2317.0

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: Predominantly Black (73%)
• Race & ethnicity: Black 73% White 20% Two or more races 3% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 3% Ukrainian 1%
• Foreign-born: 8% · Canada
• Languages at home: 92% English-only · Spanish 2% Arabic 2% Other Indo-European 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: ▼ -191.83%
• Current HPI: 284.5645
• Rent YoY: ▲ 4.43%
• 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

+1508.7% since first listed

2 events — show timeline

• 2026-06-15 Coming Soon $185,000 BRIGHT MLS
• 1961-10-18 Sold (Public Records) $11,500 Public Records

Property tax history

+2.6%/yr

Latest (2025): $2,671 · +2.9% YoY. Source: county tax records.