9215 Bridle Path Ln

North Laurel, MD 20723

$267,000D

2 bd · 2.0 ba · 920 sqft · Built 1974 · SingleFamily · Active · 35 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,071/mo
• Mortgage (P&I): −$1,400
• Tax + insurance: −$445
• HOA: −$0
• Vac / Maint / Mgmt: −$435
• Net cashflow: $-209/mo
• Annual: $-2,509/yr
• Cap rate: 5.35%
• Cash-on-cash: -3.36%
• DSCR: 0.85
• 1% rule: 0.78%
• Cash to close: $74,760

Investor read

• This is a 2-bed/2.0-bath single-family listed at $267k.
• 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).
• It's been on market 35 days — a 3% lower offer ($259k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $207k (22.4% 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 $8k of value loss. Plan a longer hold.
• 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).
• Howard County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 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.
• 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.
• 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.

Questions for listing agent

• 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?
• 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?
• Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.