136 Chesapeake Mobile Ct #136

Severn, MD 21076

$74,000B-

3 bd · 2.0 ba · 1,680 sqft · Built 2026 · Manufactured · Active · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,842/mo
• Mortgage (P&I): −$388
• Tax + insurance: −$123
• HOA: −$0
• Vac / Maint / Mgmt: −$597
• Net cashflow: $1,733/mo
• Annual: $20,801/yr
• Cap rate: 34.40%
• Cash-on-cash: 100.39%
• DSCR: 5.47
• 1% rule: 3.84%
• Cash to close: $20,720

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $74k. Condition is rated fair.
• At list price, monthly cash flow is $2k ($21k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $74k).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $512 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#175 in MD) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A-; Watch: schools D+, crime D+, 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.
• Market conditions: Rents rising (+1.4%/yr); 147 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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.
• At projected returns (-3.0% appreciation + 1.4% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 34.4% vs local median 4.0% in Severn — 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• Crime grade is D 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.

Repairs flagged (vision-AI assessment)

• Minor: exterior siding — Some discoloration
• Minor: interior walls — Paint appears worn