8315 N Brook Ln Unit 2-1004

Bethesda, MD 20814

$200,000C-

1 bd · 1.0 ba · 827 sqft · Built 1965 · Condo · Active · 46 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,764/mo
• Mortgage (P&I): −$1,049
• Tax + insurance: −$333
• HOA: −$871
• Vac / Maint / Mgmt: −$580
• Net cashflow: $-70/mo
• Annual: $-838/yr
• Cap rate: 5.87%
• Cash-on-cash: -1.50%
• DSCR: 0.93
• 1% rule: 1.38%
• Cash to close: $56,000

Investor read

• This is a 1-bed/1.0-bath condo listed at $200k. Condition is rated good.
• At list price, monthly cash flow is $-70 ($-838/yr) — negative.
• To cash-flow at today's rent, offer at most $190k (5.1% below list).
• Meets the 1% rule at list price ($3k rent vs $200k).
• It's been on market 46 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $190k (5.1% below list) — sets the bar for cash-flow.
• 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.
• Location reads 78/100 on livability (#67 in MD, #2,463 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, crime A-; Watch: amenities D+, cost of living F.
• Montgomery County Public Schools (suburban): math 27% / reading 45% proficiency, ranked #3 of 24 in MD (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Bethesda Elementary (math 48% / reading 52%, grade D+, #37 of 860 statewide, top 4%, 611 students, 21% FRL); Westland Middle (math 30% / reading 65%, grade C-, #12 of 225 statewide, top 5%, 845 students, 18% FRL); Bethesda-Chevy Chase High (math 71% / reading 87%, grade A-, #19 of 222 statewide, top 8%, 2,335 students, 26% FRL).
• Zoned-school proficiency averages 59% at this address vs 36% district-wide (+23 pts) — the actual schools serving this property are materially stronger than the Montgomery County Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: HOA is 32% of rent.
• Market conditions: Rents soft (-0.3%/yr); 461 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 3,880 units permitted in Montgomery County in 2024 (2,054 in 5+ unit buildings).
• Montgomery County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 26y ago; this cycle's ask has dropped $35k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $106k; list at $200k implies a 89% gain — meaningful room to come down on a strong offer.
• Cap rate 5.9% vs local median 0.8% in Bethesda — 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

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 46 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
• Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-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.