10838 Green Mountain Cir

Columbia, MD 21044

$249,999C-

3 bd · 2.5 ba · 1,485 sqft · Built 1995 · Townhouse · Active · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,785/mo
• Mortgage (P&I): −$1,311
• Tax + insurance: −$417
• HOA: −$449
• Vac / Maint / Mgmt: −$585
• Net cashflow: $24/mo
• Annual: $282/yr
• Cap rate: 6.41%
• Cash-on-cash: 0.40%
• DSCR: 1.02
• 1% rule: 1.11%
• Cash to close: $70,000

Investor read

• This is a 3-bed/2.5-bath townhouse listed at $250k. Condition is rated fair.
• At list price, monthly cash flow is $24 ($282/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.
• Location reads 80/100 on livability (#51 in MD, #1,939 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: amenities C-, cost of living F.
• Howard County Public Schools (suburban): math 34% / reading 49% proficiency, ranked #1 of 24 in MD (top 4%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: Rents flat; 145 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 881 units permitted in Howard County in 2024 (285 in 5+ unit buildings).
• Howard County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts; this cycle's ask is 25% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.4% vs local median 3.2% in Columbia — 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.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: Exterior siding — Severe weathering and staining
• Moderate: Kitchen cabinets — Worn and dated appearance
• Moderate: Bathroom fixtures — Signs of wear
• Moderate: Flooring — Worn appearance
• Moderate: Interior walls/paint — Faded paint