103 Vista Ave

Ferndale, MD 21061

$300,000C-

4 bd · 1.5 ba · 1,566 sqft · Built 1955 · SingleFamily · Pending · 24 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,649/mo
• Mortgage (P&I): −$1,573
• Tax + insurance: −$479
• HOA: −$0
• Vac / Maint / Mgmt: −$556
• Net cashflow: $41/mo
• Annual: $488/yr
• Cap rate: 6.68%
• Cash-on-cash: 1.37%
• DSCR: 1.06
• 1% rule: 0.88%
• Cash to close: $84,000

Investor read

• This is a 4-bed/1.5-bath single-family listed at $300k.
• At list price, monthly cash flow is $41 ($488/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $265k (11.7% below list).
• It's been on market 24 days — a 2% lower offer ($296k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $265k (11.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#128 in MD) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, employment A; Watch: cost of living C-, crime F, amenities F.
• Anne Arundel County Public Schools (suburban): math 20% / reading 37% proficiency, ranked #10 of 24 in MD (top 42%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Monarch Global Academy Pcs Laurel Campus (math 13% / reading 28%, grade F, #341 of 860 statewide, top 40%, 830 students, 53% FRL); Lindale Middle (math 9% / reading 35%, grade F, #125 of 225 statewide, top 58%, 1,178 students, 59% FRL); North County High (math 33% / reading 58%, grade D-, #121 of 222 statewide, top 55%, 2,451 students, 63% FRL) — zoned schools average 58% FRL vs 25% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: flood insurance adds $56/mo; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+3.9%/yr); 142 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,303 units permitted in Anne Arundel County in 2024 (299 in 5+ unit buildings).
• Anne Arundel County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Climate carrying-cost: severe flood risk; 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.
• Cap rate 6.7% vs local median 4.5% in Ferndale — 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.
• This rent runs 36% of the median local income ($88k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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?
• 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?
• 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.