9215 Bridle Path Ln · North Laurel, MD 20723

$267,000

2 bd · 2.0 ba · 920 sqft · SingleFamily · 35 Days on market

Built 1974 $290/sqft · 23% below area Est $346k · 23% 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).

• ARV discount +15.0/15.0
• Cash flow +9.0/30.0
• Schools +4.1/10.0
• Livability +3.5/5.0
• Rent growth +3.4/5.0
• 1% rule +2.8/10.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Brick front condominium row home updated in 2015. New ceramic tile, Dupont carpet, Formica counter tops, Pulte windows, Levolor blinds, Kohler shower, Lennox Elite HVAC, Larson storm door, and Brinks hardware. Verizon Fios telephone, tv, and internet. Laurel Woods Elementary and North Laurel Park Community Center just across the street.

Key facts

• Pulte windows
• Kohler shower
• Formica counter tops

Tags

• CERAMIC TILE
• DUPONT CARPET
• FORMICA COUNTER TOPS
• PULTE WINDOWS
• LEVOLOR BLINDS
• KOHLER SHOWER

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $267k.

Deal economics

• At list price, monthly cash flow is $-209 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $237k (11.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $207k (22.4% below list).
• Recommended offer: $207k (22.4% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 2.9% in North Laurel — 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 70/100 on livability (#173 in MD) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Howard County Public Schools (suburban): math 34% / reading 49% proficiency, ranked #1 of 24 in MD (top 4%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: Laurel Woods Elementary (math 16% / reading 22%, grade F, #385 of 860 statewide, top 46%, 662 students, 62% FRL); Murray Hill Middle (math 14% / reading 42%, grade F, #77 of 225 statewide, top 35%, 591 students, 40% FRL); Reservoir High (math 66% / reading 72%, grade B, #43 of 222 statewide, top 19%, 1,837 students, 28% FRL) — zoned schools average 43% FRL vs 15% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.5%/yr); 94 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 881 units permitted in Howard County in 2024 (285 in 5+ unit buildings).
• This rent is only 18% of the median local income ($138k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Howard County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($259k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $207,101 (22.4% below list)

Questions for the listing agent

1. 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?
2. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.78% ✗
• Cap rate: 5.35%
• Cash-on-cash: -3.36%
• DSCR: 0.85
• GRM: 10.7

CMA / ARV

• ARV (median comp): $346,086
• List price: $267,000
• Delta: -22.85%
• Verdict: UNDERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9323 Decatur Pl	0.39mi	2/1.0	996 (+8%)	8mo	$290,000	$291	57
9538 Cissell Ave	0.54mi	2/2.0	884 (-4%)	13mo	$376,000	$425	57
9402 6th St N	0.45mi	3/1.0 (+1)	956 (+4%)	10mo	$250,000	$262	55

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 · 3.5% rent growth · sell at horizon

5-year hold

• IRR: -21.3%
• Equity multiple: 0.26×
• Total profit: $-55,504
• Equity at exit: $39,811

10-year hold

• IRR: -13.8%
• Equity multiple: 0.18×
• Total profit: $-61,011
• Equity at exit: $23,085

Cash invested: $74,760 (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 20723

• Rents YoY: 3.5%
• Active inventory: 94
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,071 high
• Mortgage (P&I): −$1,400
• Tax est. 1.5%: −$334 /mo · $4,005/yr
• Insurance: −$111
• HOA: −$0
• Vacancy / Maint / Mgmt: −$435
• Net cashflow: $-209

Break-even live

Break-even rent $2,336

Max offer price $236,746

Occupancy floor —

Sensitivity live

Price	-10% $-25	-5% $-117	+0% $-209	+5% $-301	+10% $-394
Rent	-10% $-373	-5% $-291	+0% $-209	+5% $-127	+10% $-45
Rate	-1.0pp $-75	-0.5pp $-141	base $-209	+0.5pp $-278	+1.0pp $-349

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: $66,750
• Closing costs: $8,010
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9220 Bridle Path Ln Laurel, MD	2.0	2.0	940	$2,300	$2.45	5d	1	0.05mi
9220 Bridle Path Ln Unit K Laurel, MD	2.0	1.5	940	$2,300	$2.45	13d	1	0.05mi
9220 Old Lantern Way Laurel, MD	1.0–3.0	1.0–2.0	1009	$1,843	$1.83	0d	62	0.16mi
9753 Whiskey Run Laurel, MD	2.0	2.0	1116	$2,250	$2.02	45d	1	0.35mi
9709 Whiskey Run Laurel, MD	2.0	2.0	966	$2,200	$2.28	19d	1	0.38mi
9915 Whiskey Run Laurel, MD	2.0	2.0	966	$2,199	$2.28	6d	1	0.44mi
501 Main St Laurel, MD	1.0	1.0	560	$1,525	$2.72	4d	9	0.71mi
513 Main St Laurel, MD	2.0	1.0	1000	$1,735	$1.74	7d	1	0.73mi
600 Main St Unit Laurel 24 101-10 Laurel, MD	1.0	1.0	625	$1,600	$2.56	45d	1	0.75mi
610 Main St #307 Laurel, MD	1.0	1.0	604	$1,425	$2.36	4d	1	0.77mi
610 Main St #312 Laurel, MD	1.0	1.0	630	$1,450	$2.30	45d	1	0.77mi
815 Main St Laurel, MD	1.0	1.0	800	$1,475	$1.84	45d	1	0.81mi
9713 Queen Annes Lace Laurel, MD	1.0–3.0	1.0–2.0	1114	$2,035	$1.83	45d	1	0.83mi
344 Main St Unit 103 Laurel, MD	2.0	1.0	650	$1,475	$2.27	26d	1	0.84mi
344 Main St Unit 102 Laurel, MD	1.0	1.0	600	$1,300	$2.17	23d	1	0.84mi
120 2nd St Laurel, MD	1.0	1.0	600	$1,500	$2.50	23d	1	1.01mi
332 11th St Unit T7 Laurel, MD	1.0	1.0	750	$1,695	$2.26	45d	1	1.15mi
604 4th St Laurel, MD	2.0	1.0	952	$2,100	$2.21	7d	1	1.15mi
10132 High Ridge Rd Laurel, MD	2.0	1.0	896	$2,295	$2.56	0d	1	1.15mi
1216 Westview Ter Laurel, MD	2.0	1.5	850	$1,995	$2.35	23d	1	1.27mi
321 Thomas Dr Laurel, MD	1.0–2.0	1.0	703	$1,775	$2.52	22d	4	1.31mi
801 8th St Laurel, MD	1.0–2.0	1.0	765	$1,844	$2.41	1d	10	1.31mi
903 Montrose Ave Laurel, MD	3.0	1.0	920	$2,200	$2.39	45d	1	1.39mi
8200 Gorman Ave Laurel, MD	2.0	1.0	939	$1,835	$1.95	1d	6	1.47mi
8450 Upper Sky Way Laurel, MD	1.0–3.0	1.0–2.0	1085	$3,120	$2.88	0d	8	1.49mi

Listing history 12 events

1. 2026-06-16
   days on market $267,000 Active 35 DOM
2. 2026-06-15
   days on market $267,000 Active 34 DOM
3. 2026-06-13
   days on market $267,000 Active 32 DOM
4. 2026-06-09
   days on market $267,000 Active 28 DOM
5. 2026-06-08
   days on market $267,000 Active 27 DOM
6. 2026-06-07
   days on market $267,000 Active 26 DOM
7. 2026-06-04
   days on market $267,000 Active 23 DOM
8. 2026-06-03
   days on market $267,000 Active 22 DOM
9. 2026-06-02
   days on market $267,000 Active 21 DOM
10. 2026-06-01
    days on market $267,000 Active 20 DOM
11. 2026-05-31
    days on market $267,000 Active 19 DOM
12. 2026-05-12
    listed $267,000 Active 338-char remark

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 19% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,852
• − Mortgage interest: −$14,956
• − Property taxes: −$4,005
• − Insurance: −$1,335
• − Repairs & maintenance: −$1,988
• − Management: −$1,988
• − Depreciation: −$7,767
• Taxable loss: −$7,188
• Est. tax savings @ 24.0%: +$1,725
• After-tax cash flow: $-784/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: Howard County Public Schools
• NCES district ID: 2400420
• Math proficiency: 34% ▼ -22.00%
• Reading proficiency: 49% ▼ -11.00%
• Median HH income: $108,056
• Composite: 41.23/100
• National rank: #3535
• State rank: #1 of 24 in MD

Livability — North Laurel

• Score: 70/100
• State rank: #173
• US rank: #7812

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Laurel, MD
• County: Howard County · 282,651 people
• City population: 36,319
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 36,866
• Household income: $138,113
• Rent vs Own: 31.1% rent · 68.9% own
• Severe rent burden: 589.0

Population outlook (Howard County) Hauer SSP2

• Today (2025): 367,857 people
• By 2030: 394,054 · +7.1%
• By 2040: 443,509 · +20.6%
• By 2050: 488,124 · +32.7%
• By 2075: 594,860 · +61.7%
• By 2100: 648,772 · +76.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.74)
• Race & ethnicity: White 36% Black 30% Asian 16% Hispanic / Latino 13% Two or more races 8%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Scotch-Irish 2% Romanian 1% Lithuanian 1%
• Foreign-born: 25% · Canada, South Korea, China
• Languages at home: 68% English-only · Spanish 10% Other Indo-European 7% Korean 2%

Political lean MEDSL · Howard

• 2024 margin: Solid D (+41.8) · D 69.1% · R 27.4% · Other 3.5%
• 2008→2024 swing: +19.9pp toward D · 2008: 21.9pp · 2024: 41.8pp
• All cycles: 2024: D+41.8 2020: D+44.3 2016: D+33.5 2012: D+21.2 2008: D+21.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -257.18%
• Current HPI: 290.8307
• Rent YoY: ▲ 3.50%
• 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