422 Margaret Ave · Essex, MD 21221

$249,900

3 bd · 1.5 ba · 1,652 sqft · SingleFamily public records · 3 Days on market

Built 1951 9,048 sqft lot Est $284k · 12% under

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Why this score? — see what drove the D+ 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 +14.6/30.0
• ARV discount +12.9/15.0
• DSCR +4.4/10.0
• Livability +4.0/5.0
• 1% rule +3.9/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home. .. This cape cod located walking distance from Riverside Marine awaits a new owner. This well maintained home has been cared for, for many years. .. Now it's your turn. Walk in and witness the character and charm of the original. .Hardwood flooring throughout with 2 bedrooms a full bath and a huge kitchen on the main level. .. Walk out to the massive backyard, which is ideal for summertime fun and has an enclosed porch for quiet afternoons. There is a garage and driveway for off street parking. .The upper level is buildable and has room for bedrooms and a possible bath. There is a full basement with room for a workspace. .The potential is here. .. Don't miss it. .. .. .

Key facts

• 9,048 sq ft lot
• Garage
• Built 1951

Property features AI

Finance

• Other: Fee simple ownership; Ground rent paid annually

Exterior

• Parking: Detached front-entry garage (1 space); Driveway parking
• Utilities: Public water; Public sewer; Electric service; Natural gas
• Home design: Detached property; Single-family home
• Construction: Brick and block construction; Block foundation; Shingle roof; Built (year from assessor)
• Exterior features: Rear yard

Interior

• Kitchen: Gas range/oven; Refrigerator
• Bedrooms: Two main-level bedrooms; One upper-level bedroom
• Flooring: Wood floors
• Bathrooms: One full bathroom on the main level; One half bathroom on a lower level
• Heating & cooling: Forced air heating (natural gas); Central air conditioning (electric); Natural gas hot water
• Interior features: Ceiling fans; Combination kitchen and dining area; Entry-level bedroom; Wood floors; Full, partially finished basement
• Laundry & utility: Washer and dryer; Laundry in basement; Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $57 ($689/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 $222k (11.1% below list).
• Recommended offer: $222k (11.1% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 4.9% in Essex — 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 79/100 on livability (#60 in MD, #2,277 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A; Watch: amenities D+, 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.
• Zoned schools: Sussex Elementary (math 8% / reading 12%, grade F, #614 of 860 statewide, top 75%, 430 students, 74% FRL); Deep Creek Middle (math 3% / reading 21%, grade F, #202 of 225 statewide, top 91%, 752 students, 74% FRL); Chesapeake High (math 5% / reading 27%, grade F, #183 of 222 statewide, top 82%, 1,047 students, 64% FRL) — zoned schools average 71% FRL vs 39% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.1%/yr); 142 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 40% of the median local income ($67k/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 $2k of loan paydown is wiped out by about $7k 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 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 50% 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 $222,217 (11.1% below list)

Questions for the listing agent

1. Built in 1951 — 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. 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.89% ✗
• Cap rate: 6.57%
• Cash-on-cash: 0.98%
• DSCR: 1.04
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $284,144
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
603 Virginia Ave	0.37mi	3/1.5	1,638 (-1%)	15mo	$270,000	$165	69
401 Margaret Ave	0.11mi	4/2.0 (+1)	1,860 (+13%)	2mo	$221,100	$119	66
502 Delaware Ave	0.31mi	3/1.5	1,706 (+3%)	20mo	$280,000	$164	63
941 Homberg Ave	0.71mi	3/1.5	1,800 (+9%)	2mo	$295,000	$164	50
404 S Taylor Ave	0.11mi	4/1.0 (+1)	1,467 (-11%)	24mo	$285,000	$194	49
812 Woodlynn Rd N	0.34mi	2/1.5 (-1)	1,805 (+9%)	19mo	$175,000	$97	48
925 Homberg Ave	0.61mi	3/2.0	1,590 (-4%)	24mo	$240,000	$151	43
423 Delaware Ave	0.30mi	3/2.0	1,887 (+14%)	21mo	$325,000	$172	43
920 Lance Ave	0.58mi	3/2.0	1,456 (-12%)	13mo	$285,000	$196	40
905 Barron Ave	0.51mi	4/3.0 (+1)	1,862 (+13%)	9mo	$355,000	$191	37
929 Lance Ave	0.64mi	3/2.0	1,884 (+14%)	15mo	$365,000	$194	32
948 Woodlynn Rd	0.69mi	4/1.5 (+1)	1,422 (-14%)	15mo	$310,000	$218	28

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 · 1.08% rent growth · sell at horizon

5-year hold

• IRR: -16.9%
• Equity multiple: 0.41×
• Total profit: $-41,036
• Equity at exit: $37,261

10-year hold

• IRR: -12.6%
• Equity multiple: 0.32×
• Total profit: $-47,594
• Equity at exit: $21,607

Cash invested: $69,972 (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 21221

• Rents YoY: 1.1%
• Active inventory: 142
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,222 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$284 /mo · $3,402/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$467
• Net cashflow: $57

Break-even live

Break-even rent $2,150

Max offer price $249,900

Occupancy floor 92%

Sensitivity live

Price	-10% $199	-5% $128	+0% $57	+5% $-13	+10% $-84
Rent	-10% $-118	-5% $-30	+0% $57	+5% $145	+10% $233
Rate	-1.0pp $183	-0.5pp $121	base $57	+0.5pp $-7	+1.0pp $-73

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
406 Essexwood Ct Essex, MD	3.0	2.5	1280	$2,400	$1.88	45d	1	0.13mi
4 Warren Rd Essex, MD	3.0	2.0	1292	$1,850	$1.43	0d	1	0.65mi
951 Bayner Rd Unit 951 Essex, MD	3.0	2.0	1152	$2,200	$1.91	45d	1	1.00mi
1022 Foxwood Ln Essex, MD	3.0	2.0	1152	$2,200	$1.91	18d	1	1.00mi
1005 Kayden Ln Essex, MD	3.0	1.5	1152	$2,200	$1.91	45d	1	1.03mi
706 Seawall Rd Essex, MD	3.0	1.0	1114	$1,900	$1.71	7d	1	1.13mi
511 Riverside Rd Essex, MD	3.0	2.0	1332	$2,700	$2.03	18d	1	1.19mi
1402 Nicolay Way Unit 1 Essex, MD	3.0	1.5	1432	$1,925	$1.34	7d	1	1.27mi
1402 Nicolay Way Essex, MD	3.0	2.0	1432	$1,925	$1.34	5d	1	1.27mi
1112 Tace Dr Essex, MD	3.0	1.0	1728	$1,788	$1.04	0d	14	1.31mi
1043 Debbie Ave Essex, MD	4.0	2.5	1860	$2,300	$1.24	14d	1	1.35mi
953 Walnut Grove Rd Essex, MD	3.0	2.0–2.5	1600	$2,108	$1.32	0d	18	1.40mi
340 Potomac Ave Rosedale, MD	2.0	2.5	1500	$1,995	$1.33	45d	1	1.41mi
54 Stemmers Run Rd Essex, MD	3.0	2.5	1260	$1,950	$1.55	45d	1	1.43mi

Listing history 16 events

1. 2026-06-13
   remarks 699-char remark
2. 2026-06-13
   statusdays on market $249,900 Active 3 DOM
3. 2026-06-09
   days on market $249,900 Coming Soon 13 DOM
4. 2026-06-08
   days on market $249,900 Coming Soon 12 DOM
5. 2026-06-07
   days on market $249,900 Coming Soon 11 DOM
6. 2026-06-04
   days on market $249,900 Coming Soon 8 DOM
7. 2026-06-03
   days on market $249,900 Coming Soon 7 DOM
8. 2026-06-02
   days on market $249,900 Coming Soon 6 DOM
9. 2026-06-01
   days on market $249,900 Coming Soon 5 DOM
10. 2026-05-31
    days on market $249,900 Coming Soon 4 DOM
11. 2026-05-27
    historical $249,900
12. 2021-10-06
    soldstatus $243,000 Closed 692-char remark

    Show marketing remark (692 chars)

    Welcome home. .. This cape cod located walking distance from Riverside Marine awaits a new owner. This well maintained home has been cared for, for many years. .. Now it's your turn. Walk in and witness the character and charm of the original. .Hardwood flooring throughout with 2 bedrooms a full bath and a huge kitchen on the main level. .. Walk out to the massive backyard, which is ideal for summertime fun and has an enclosed porch for quiet afternoons. There is a garage and driveway for off street parking. .The upper level is buildable and has room for bedrooms and a possible bath. There is a full basement with room for a workspace. .The potential is here. .. Don't miss it. .. .. .

13. 2021-08-27
    status Pending 692-char remark

    Show marketing remark (692 chars)

    Welcome home. .. This cape cod located walking distance from Riverside Marine awaits a new owner. This well maintained home has been cared for, for many years. .. Now it's your turn. Walk in and witness the character and charm of the original. .Hardwood flooring throughout with 2 bedrooms a full bath and a huge kitchen on the main level. .. Walk out to the massive backyard, which is ideal for summertime fun and has an enclosed porch for quiet afternoons. There is a garage and driveway for off street parking. .The upper level is buildable and has room for bedrooms and a possible bath. There is a full basement with room for a workspace. .The potential is here. .. Don't miss it. .. .. .

14. 2021-08-19
    historical Active Under Contract 692-char remark

    Show marketing remark (692 chars)

    Welcome home. .. This cape cod located walking distance from Riverside Marine awaits a new owner. This well maintained home has been cared for, for many years. .. Now it's your turn. Walk in and witness the character and charm of the original. .Hardwood flooring throughout with 2 bedrooms a full bath and a huge kitchen on the main level. .. Walk out to the massive backyard, which is ideal for summertime fun and has an enclosed porch for quiet afternoons. There is a garage and driveway for off street parking. .The upper level is buildable and has room for bedrooms and a possible bath. There is a full basement with room for a workspace. .The potential is here. .. Don't miss it. .. .. .

15. 2021-08-13
    listed $235,000 Active 692-char remark

    Show marketing remark (692 chars)

    Welcome home. .. This cape cod located walking distance from Riverside Marine awaits a new owner. This well maintained home has been cared for, for many years. .. Now it's your turn. Walk in and witness the character and charm of the original. .Hardwood flooring throughout with 2 bedrooms a full bath and a huge kitchen on the main level. .. Walk out to the massive backyard, which is ideal for summertime fun and has an enclosed porch for quiet afternoons. There is a garage and driveway for off street parking. .The upper level is buildable and has room for bedrooms and a possible bath. There is a full basement with room for a workspace. .The potential is here. .. Don't miss it. .. .. .

16. 2005-11-22
    soldstatus $85,476

ⓘ 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: $3,402 · $284/mo
• Projected year-2 tax: $3,402 · $284/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 8/10 Severe 7 d/yr ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 50% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,666
• − Mortgage interest: −$13,998
• − Property taxes: −$3,402
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,133
• − Management: −$2,133
• − Depreciation: −$7,270
• Taxable loss: −$3,520
• Est. tax savings @ 24.0%: +$845
• After-tax cash flow: $1,533/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 — Essex

• Score: 79/100
• State rank: #60
• US rank: #2277

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Essex, MD
• County: Baltimore County · 769,527 people
• City population: 43,487
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 43,487
• Household income: $67,340
• Rent vs Own: 37.5% rent · 62.5% own
• Severe rent burden: 1757.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 54% Black 32% Two or more races 7% Hispanic / Latino 7% Asian 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Dominican 1%
• Common ancestry: Romanian 5% Lithuanian 1% Slovak 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 89% English-only · Spanish 6% French/Haitian/Cajun 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: ▼ -232.14%
• Current HPI: 237.1069
• Rent YoY: ▲ 1.08%
• 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

+192.4% since first listed

6 events — show timeline

• 2026-05-27 Coming Soon $249,900 BRIGHT MLS
• 2021-10-06 Sold (MLS) $243,000 BRIGHT MLS
• 2021-08-27 Pending — BRIGHT MLS
• 2021-08-19 Contingent — BRIGHT MLS
• 2021-08-13 Listed $235,000 BRIGHT MLS
• 2005-11-22 Sold (Public Records) $85,476 Public Records

Property tax history

+3.9%/yr

Latest (2025): $3,402 · +12.5% YoY. Source: county tax records.