118 Conestoga · Middle River, MD 21220

$69,000

3 bd · 2.0 ba · 1,000 sqft · SingleFamily · 102 Days on market

Built 2006 1,000 sqft lot $69/sqft · at area comps Est $69k · at est. ↓ 19% since listing

---

Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.6/15.0
• Livability +3.9/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautifully maintained double-wide home offering 3 spacious bedrooms and 2 full bathrooms! Thoughtfully updated in 2025, this home features a brand new roof with skylight, brand new HVAC system including heat pump, furnace, and thermostat, plus a new dishwasher and all new smoke detectors — giving you peace of mind for years to come. This home has been meticulously cared for by one owner and is truly move-in ready. Enjoy the large deck, perfect for entertaining or relaxing outdoors, along with a welcoming front porch. The property also includes a shed with electricity (lights and outlets), ideal for storage, hobbies, or a workshop setup. Additional highlights include a spacious driveway that fits two or more vehicles, convenient street parking, and washer and dryer in-unit. Well maintained and ready for its next owner to make it their own — don’t miss this opportunity!

Key facts

• Large deck
• Front porch
• Spacious driveway

Tags

• NEW ROOF
• NEW HVAC SYSTEM
• LARGE DECK
• FRONT PORCH
• SHED WITH ELECTRICITY
• SPACIOUS DRIVEWAY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $69k).
• Recommended offer: $63k (9.0% below list) — sets the bar for market timing.
• Cap rate 27.8% vs local median 4.1% in Middle River — 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 78/100 on livability (#76 in MD, #2,777 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: schools F, 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 flat; 251 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,511 units permitted in Baltimore County in 2024 (643 in 5+ unit buildings).
• This rent runs 32% of the median local income ($82k/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 $477 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 0.8% rent growth), your $19k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 19y ago; this cycle's ask has dropped $6k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $44k; list at $69k implies a 55% gain — meaningful room to come down on a strong offer.

Recommended offer $62,790 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
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: 3.14% ✓
• Cap rate: 27.77%
• Cash-on-cash: 76.70%
• DSCR: 4.41
• GRM: 2.7

CMA / ARV

• ARV (median comp): $69,080
• List price: $69,000
• Delta: -0.12%
• Verdict: FAIR
• Comps: 14 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.83% rent growth · sell at horizon

5-year hold

• IRR: 74.2%
• Equity multiple: 4.25×
• Total profit: $62,870
• Equity at exit: $10,288

10-year hold

• IRR: 77.4%
• Equity multiple: 8.14×
• Total profit: $137,960
• Equity at exit: $5,966

Cash invested: $19,320 (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 21220

• Rents YoY: 0.8%
• Active inventory: 251
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $2,167 high
• Mortgage (P&I): −$362
• Tax est. 1.5%: −$86 /mo · $1,035/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $1,235

Break-even live

Break-even rent $604

Max offer price $69,000

Occupancy floor 38%

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3736 White Pine Rd Middle River, MD	1.0–2.0	1.0	741	$1,310	$1.77	2d	21	0.89mi
11550 Crossroads Cir Middle River, MD	1.0–2.0	1.0–2.0	893	$2,849	$3.19	2d	15	1.09mi
37 Alberge Ln Middle River, MD	2.0–3.0	1.0–2.0	928	$2,052	$2.21	2d	8	1.24mi
3924 Cutty Sark Rd Middle River, MD	2.0	1.5	1180	$1,699	$1.44	24d	1	1.31mi
6221 Greenleigh Ave Middle River, MD	1.0–2.0	1.0–2.0	1059	$2,957	$2.79	2d	16	1.35mi
1 Alder Dr Middle River, MD	1.0–3.0	1.0	1000	$2,249	$2.25	5d	10	1.44mi

Listing history 24 events

1. 2026-06-02
   statusdays on market $69,000 Pending 102 DOM
2. 2026-06-01
   days on market $69,000 Active 101 DOM
3. 2026-05-31
   days on market $69,000 Active 100 DOM
4. 2026-05-05
   price $69,000 915-char remark

   Show marketing remark (915 chars)

   Welcome to this beautifully maintained double-wide home offering 3 spacious bedrooms and 2 full bathrooms! Thoughtfully updated in 2025, this home features a brand new roof with skylight, brand new HVAC system including heat pump, furnace, and thermostat, plus a new dishwasher and all new smoke detectors — giving you peace of mind for years to come. This home has been meticulously cared for by one owner and is truly move-in ready. Enjoy the large deck, perfect for entertaining or relaxing outdoors, along with a welcoming front porch. The property also includes a shed with electricity (lights and outlets), ideal for storage, hobbies, or a workshop setup. Additional highlights include a spacious driveway that fits two or more vehicles, convenient street parking, and washer and dryer in-unit. Well maintained and ready for its next owner to make it their own — don’t miss this opportunity!

5. 2026-02-20
   listed $75,000 Active 915-char remark

   Show marketing remark (915 chars)

   Welcome to this beautifully maintained double-wide home offering 3 spacious bedrooms and 2 full bathrooms! Thoughtfully updated in 2025, this home features a brand new roof with skylight, brand new HVAC system including heat pump, furnace, and thermostat, plus a new dishwasher and all new smoke detectors — giving you peace of mind for years to come. This home has been meticulously cared for by one owner and is truly move-in ready. Enjoy the large deck, perfect for entertaining or relaxing outdoors, along with a welcoming front porch. The property also includes a shed with electricity (lights and outlets), ideal for storage, hobbies, or a workshop setup. Additional highlights include a spacious driveway that fits two or more vehicles, convenient street parking, and washer and dryer in-unit. Well maintained and ready for its next owner to make it their own — don’t miss this opportunity!

6. 2012-06-21
   soldstatus $44,500 323-char remark

   Show marketing remark (323 chars)

   Double wide with three bedrooms two baths, wall to wall carpet , c/a, island kitchen, all appliances. Separate dinning room, very bright living room with bow window, laundry room separate. Double closets in master bedroom plus master bath with shower. Buyers must be approved by park Come see !!!!! Motivated sellers!!!!!!!

7. 2012-06-21
   soldstatus $44,500 Sold

   Show marketing remark (323 chars)

   Double wide with three bedrooms two baths, wall to wall carpet , c/a, island kitchen, all appliances. Separate dinning room, very bright living room with bow window, laundry room separate. Double closets in master bedroom plus master bath with shower. Buyers must be approved by park Come see !!!!! Motivated sellers!!!!!!!

8. 2012-06-20
   status Contract
9. 2012-06-07
   historical 323-char remark

   Show marketing remark (323 chars)

   Double wide with three bedrooms two baths, wall to wall carpet , c/a, island kitchen, all appliances. Separate dinning room, very bright living room with bow window, laundry room separate. Double closets in master bedroom plus master bath with shower. Buyers must be approved by park Come see !!!!! Motivated sellers!!!!!!!

10. 2012-04-13
    status Active
11. 2012-03-29
    status Contract
12. 2012-02-20
    listed $52,500 Active

    Show marketing remark (323 chars)

    Double wide with three bedrooms two baths, wall to wall carpet , c/a, island kitchen, all appliances. Separate dinning room, very bright living room with bow window, laundry room separate. Double closets in master bedroom plus master bath with shower. Buyers must be approved by park Come see !!!!! Motivated sellers!!!!!!!

13. 2012-02-20
    listed $52,500 323-char remark

    Show marketing remark (323 chars)

    Double wide with three bedrooms two baths, wall to wall carpet , c/a, island kitchen, all appliances. Separate dinning room, very bright living room with bow window, laundry room separate. Double closets in master bedroom plus master bath with shower. Buyers must be approved by park Come see !!!!! Motivated sellers!!!!!!!

14. 2011-12-08
    historical Withdrawn
15. 2011-12-08
    historical
16. 2011-10-03
    listed Active
17. 2011-10-03
    listed $85,000
18. 2008-08-13
    historical
19. 2008-08-13
    status
20. 2008-07-11
    historical
21. 2008-06-04
    price
22. 2008-05-05
    price
23. 2008-02-05
    price
24. 2007-11-11
    listed

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $26,001
• − Mortgage interest: −$3,865
• − Property taxes: −$1,035
• − Insurance: −$345
• − Repairs & maintenance: −$2,080
• − Management: −$2,080
• − Depreciation: −$2,007
• Taxable income: $14,588
• Est. tax owed @ 24.0%: −$3,501
• After-tax cash flow: $11,317/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 — Middle River

• Score: 78/100
• State rank: #76
• US rank: #2777

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Middle River, MD
• County: Baltimore County · 769,527 people
• City population: 42,824
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 42,824
• Household income: $81,817
• Rent vs Own: 31.2% rent · 68.8% own
• Severe rent burden: 1921.0

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 57% Black 27% Two or more races 6% Hispanic / Latino 6% Asian 5%
• Hispanic origin (detail): Puerto Rican 1%
• Common ancestry: Romanian 4% Ukrainian 2% Lithuanian 1%
• Foreign-born: 12% · Canada, Vietnam
• Languages at home: 86% English-only · Spanish 3% Arabic 3% Tagalog/Filipino 2%

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: ▼ -199.31%
• Current HPI: 254.5597
• Rent YoY: ▲ 0.83%
• 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

-18.8% since first listed

21 events — show timeline

• 2026-05-05 Price Changed $69,000 BRIGHT MLS
• 2026-02-20 Listed $75,000 BRIGHT MLS
• 2012-06-21 Sold (MLS) $44,500 MRIS
• 2012-06-21 Sold (MLS) $44,500 BRIGHT MLS
• 2012-06-20 Pending — MRIS
• 2012-06-07 Listing Removed — BRIGHT MLS
• 2012-04-13 Relisted — MRIS
• 2012-03-29 Pending — MRIS
• 2012-02-20 Listed $52,500 MRIS
• 2012-02-20 Listed $52,500 BRIGHT MLS
• 2011-12-08 Delisted — MRIS
• 2011-12-08 Listing Removed — BRIGHT MLS
• 2011-10-03 Listed — MRIS
• 2011-10-03 Listed $85,000 BRIGHT MLS
• 2008-08-13 Delisted — MRIS
• 2008-08-13 Relisted — MRIS
• 2008-07-11 Delisted — MRIS
• 2008-06-04 Price Changed — MRIS
• 2008-05-05 Price Changed — MRIS
• 2008-02-05 Price Changed — MRIS
• 2007-11-11 Listed — MRIS