5402 85th Ave #202 · New Carrollton, MD 20784

$155,000

2 bd · 1.0 ba · 775 sqft · Condo public records · 24 Days on market

Built 1963 $391/mo HOA · 20% of rent

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Why this score? — see what drove the C- 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 +21.3/30.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Rent growth +1.7/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this beautifully renovated 2-bedroom, 1-bath garden-style condo offering the perfect blend of comfort, convenience, and connectivity. Filled with natural light, this bright and airy unit features sliding glass doors leading to a private balcony off the living room — ideal for relaxing or entertaining. The generously sized primary bedroom has an abundance of closet space for your convenience. The secondary bedroom, located on the opposite side of the unit for optimal privacy, is perfect for sleeping or as an office or guest room. The galley style kitchen is fitted with brand new stainless steel appliances and a gas range. The white shaker style cabinets combined with th

Key facts

• Private balcony
• Grocery stores
• Transit access

Tags

• PRIVATE BALCONY
• TRANSIT ACCESS
• GROCERY STORES

Property features AI

Finance

• Other: Ground rent paid annually; Washer/dryer hookup not available in unit; Transportation options nearby: bus, commuter rail, and metro/subway within 1 mile
• HOA & community: Monthly condo fee of $391, includes water; Building offers laundry facilities

Exterior

• Parking: Parking lot with permit included
• Utilities: Public water; Public sewer; Electric cooling fuel; Natural gas for heating and hot water
• Home design: Condominium unit; Garden-style building (1–4 floors); Unit/flat; Entry on level 2; Excellent condition; Effective remodel year 2025
• Construction: Estimated year built; Building name: CARROLLAN GARDENS CONDO; Pets allowed on a case-by-case basis
• Exterior features: Not in a federal flood zone; Above-grade structure

Interior

• Kitchen: Built-in microwave; Dishwasher; Gas range/oven; Refrigerator; Stainless steel appliances
• Bedrooms: 2 bedrooms on main level
• Flooring: Luxury vinyl plank
• Bathrooms: 1 full bathroom on main level
• Heating & cooling: Central heating; Central air conditioning; Ceiling fans; Natural gas heating and hot water
• Interior features: Tub/shower combination; Ceiling fans; Open plan with combined dining and living area; Combined kitchen and dining area
• Laundry & utility: Shared/common laundry in building (basement)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $155k.

Deal economics

• At list price, monthly cash flow is $226 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $153k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 4.6% in New Carrollton — 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 66/100 on livability (#234 in MD) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A-, health & safety B+; Watch: cost of living D+, schools F, amenities F.
• Prince George'S County Public Schools (suburban): math 8% / reading 24% proficiency, ranked #21 of 24 in MD (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents falling (-3.3%/yr); 58 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,481 units permitted in Prince George's County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Prince George's County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($153k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 27y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $41k; list at $155k implies a 278% gain — meaningful room to come down on a strong offer.

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 $152,675 (1.5% below list)

Questions for the listing agent

1. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.27% ✓
• Cap rate: 8.04%
• Cash-on-cash: 6.24%
• DSCR: 1.28
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -10.7%
• Equity multiple: 0.62×
• Total profit: $-16,307
• Equity at exit: $23,111

10-year hold

• IRR: -7.5%
• Equity multiple: 0.60×
• Total profit: $-17,173
• Equity at exit: $13,402

Cash invested: $43,400 (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 20784

• Rents YoY: -3.3%
• Active inventory: 58
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,964 high
• Mortgage (P&I): −$813
• Tax from tax record: −$57 /mo · $690/yr
• Insurance: −$65
• HOA: −$391
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $226

Break-even live

Break-even rent $1,678

Max offer price $155,000

Occupancy floor 84%

Sensitivity live

Price	-10% $314	-5% $270	+0% $226	+5% $182	+10% $138
Rent	-10% $71	-5% $148	+0% $226	+5% $303	+10% $381
Rate	-1.0pp $304	-0.5pp $265	base $226	+0.5pp $186	+1.0pp $145

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7730 Harkins Rd Lanham, MD	2.0	1.0–2.0	810	$2,802	$3.46	0d	64	0.14mi
5345 85th Ave New Carrollton, MD	1.0–3.0	1.0–2.0	979	$1,814	$1.85	2d	18	0.16mi
5500 Karen Elaine Dr #914 New Carrollton, MD	2.0	1.0	933	$1,800	$1.93	0d	1	0.35mi
7742 Finns Ln Lanham, MD	2.0–3.0	1.0–2.0	975	$1,725	$1.77	6d	5	0.37mi
5538 Karen Elaine Dr Unit 1623 New Carrollton, MD	1.0	1.0	750	$1,500	$2.00	19d	1	0.45mi
7609 Fontainebleau Dr Unit 2215 New Carrollton, MD	2.0	1.0	965	$1,750	$1.81	19d	1	0.48mi
7617 Fontainebleau Dr Unit 2145 New Carrollton, MD	1.0	1.0	669	$1,500	$2.24	45d	1	0.48mi
5532 Karen Elaine Dr Apt 1730 New Carrollton, MD	1.0	1.0	738	$1,425	$1.93	3d	1	0.50mi
4050 Garden City Dr Hyattsville, MD	3.0	1.0–3.0	757	$2,511	$3.31	0d	31	0.53mi
7604 Fontainebleau Dr New Carrollton, MD	2.0	1.0	845	$2,166	$2.56	0d	40	0.53mi
4851 Ellin Rd Hyattsville, MD	1.0–2.0	1.0–2.0	916	$3,152	$3.44	0d	109	0.56mi
3950 Garden City Dr Hyattsville, MD	1.0–2.0	1.0–2.0	819	$2,716	$3.32	45d	13	0.60mi
7525 Riverdale Rd New Carrollton, MD	2.0	1.0	915	$1,800	$1.97	25d	1	0.62mi
7527 Riverdale Rd Unit 1827 New Carrollton, MD	2.0	1.0	933	$1,750	$1.88	6d	1	0.64mi
7509 Buchanan St Hyattsville, MD	1.0	1.0	767	$1,655	$2.16	21d	1	0.87mi
6035 Naval Ave Lanham, MD	1.0	1.0	950	$1,400	$1.47	14d	1	0.93mi
7201 Powhatan St Lanham, MD	2.0	2.0	950	$2,600	$2.74	45d	1	0.93mi
5618 Whitfield Chapel Rd Lanham, MD	1.0–2.0	1.0	743	$1,922	$2.59	11d	1	0.98mi
6901 Farragut St Hyattsville, MD	2.0	1.0	896	$900	$1.00	45d	1	1.23mi
6872 Riverdale Rd Lanham, MD	1.0–3.0	1.0–2.0	850	$1,806	$2.13	6d	9	1.38mi
3906 70th Ave Hyattsville, MD	2.0	1.0	936	$2,200	$2.35	45d	1	1.43mi

HOA detail condo

• Monthly dues: $391 · $4,692/yr
• Likely covers: gas
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-21
   days on market $155,000 Active 24 DOM
2. 2026-06-18
   days on market $155,000 Active 21 DOM
3. 2026-06-17
   days on market $155,000 Active 20 DOM
4. 2026-06-16
   days on market $155,000 Active 19 DOM
5. 2026-06-15
   days on market $155,000 Active 18 DOM
6. 2026-06-13
   days on market $155,000 Active 16 DOM
7. 2026-06-10
   days on market $155,000 Active 12 DOM
8. 2026-06-08
   days on market $155,000 Active 11 DOM
9. 2026-06-07
   days on market $155,000 Active 10 DOM
10. 2026-06-04
    days on market $155,000 Active 7 DOM
11. 2026-06-03
    days on market $155,000 Active 6 DOM
12. 2026-06-02
    days on market $155,000 Active 5 DOM
13. 2026-06-01
    days on market $155,000 Active 4 DOM
14. 2026-05-31
    days on market $155,000 Active 3 DOM
15. 2026-05-28
    listed $155,000 Active
16. 1999-08-29
    historical
17. 1999-02-20
    listed
18. 1988-04-11
    soldstatus $41,000

ⓘ 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: $690 · $57/mo
• Projected year-2 tax: $1,190 · $99/mo
• Expected delta: +$500/yr (+$42/mo · 72.5%)

ⓘ 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 · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,569
• − Mortgage interest: −$8,682
• − Property taxes: −$690
• − Insurance: −$775
• − Repairs & maintenance: −$1,886
• − Management: −$1,886
• − HOA: −$4,692
• − Depreciation: −$4,509
• Taxable income: $450
• Est. tax owed @ 24.0%: −$108
• After-tax cash flow: $2,601/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: Prince George'S County Public Schools
• NCES district ID: 2400510
• Math proficiency: 8% ▼ -11.00%
• Reading proficiency: 24% ▼ -9.00%
• Median HH income: $73,967
• Composite: 16.82/100
• National rank: #9151
• State rank: #21 of 24 in MD

Livability — New Carrollton

• Score: 66/100
• State rank: #234
• US rank: #11667

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Carrollton, MD
• County: Prince Georges County · 919,866 people
• Metro: Washington-Arlington-Alexandria, DC-VA-MD-WV
• Population (ZIP): 33,831
• Household income: $86,509
• Rent vs Own: 42.3% rent · 57.7% own
• Severe rent burden: 1205.0

Population outlook (Prince George's County) Hauer SSP2

• Today (2025): 1,005,426 people
• By 2030: 1,048,416 · +4.3%
• By 2040: 1,123,425 · +11.7%
• By 2050: 1,183,220 · +17.7%
• By 2075: 1,306,202 · +29.9%
• By 2100: 1,408,179 · +40.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 51% Hispanic / Latino 40% Two or more races 6% White 4% Asian 2%
• Hispanic origin (detail): Mexican 8% Dominican 3%
• Foreign-born: 40% · Canada, United Kingdom
• Languages at home: 48% English-only · Spanish 35% French/Haitian/Cajun 5% Other Indo-European 1%

Political lean MEDSL · Prince George's

• 2024 margin: Solid D (+75.2) · D 86.3% · R 11.2% · Other 2.5%
• 2008→2024 swing: -3.3pp toward R · 2008: 78.5pp · 2024: 75.2pp
• All cycles: 2024: D+75.2 2020: D+80.5 2016: D+81.0 2012: D+80.9 2008: D+78.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -321.69%
• Current HPI: 307.8492
• Rent YoY: ▼ -3.34%
• Metro: Washington-Arlington-Alexandria, DC-VA-MD-WV
• 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

+278.0% since first listed

4 events — show timeline

• 2026-05-28 Listed $155,000 BRIGHT MLS
• 1999-08-29 Delisted — MRIS
• 1999-02-20 Listed — MRIS
• 1988-04-11 Sold (Public Records) $41,000 Public Records

Property tax history

-3.9%/yr

Latest (2025): $690 · +5.8% YoY. Source: county tax records.