35 Mayer Dr W · Eldersburg, MD 21048

$55,000

3 bd · 2.0 ba · 1,000 sqft · SingleFamily · 63 Days on market

Built 1989 Fair condition $55/sqft · 40% below area Est $92k · 40% under ↓ 39% since listing

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well-located 3-bedrom, 2-bath mobile offering a functional layout with strong potential for renovation or customization. This property presents and excellent opportunity for investors , handymen, cash buyers, or end users looking for an affordable home with value-add potential. The home features a spacious floor plan with good room sizes and natural flow throughout. It is being sold in its current condition, allowing the next owner to complete updates and improvements to their preference. Bring your vision and take advantage of this opportunity. Schedule you showing today!. Property is being sold AS IS.

Key facts

• Built 1989
• Listed 63 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $55k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $805 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $55k).
• Recommended offer: $52k (6.0% below list) — sets the bar for market timing.
• Cap rate 23.9% vs local median 2.2% in Eldersburg — 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 75/100 on livability (#103 in MD, #3,957 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: commute F, cost of living F.
• Carroll County Public Schools (suburban): math 32% / reading 47% proficiency, ranked #2 of 24 in MD (top 8%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: 36 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 156 units permitted in Carroll County in 2024 (12 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Carroll County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $10k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $51,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 2.73% ✓
• Cap rate: 23.85%
• Cash-on-cash: 62.72%
• DSCR: 3.79
• GRM: 3.1

CMA / ARV

• ARV (median comp): $91,838
• List price: $55,000
• Delta: -40.11%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2525-#13 Baltimore Blvd	0.33mi	3/2.0	1,000 (0%)	6mo	$40,000	$40	79
2551 Baltimore Blvd #67	0.15mi	3/1.5	1,100 (+10%)	23mo	$71,000	$65	55
2551 Baltimore Blvd #64	0.15mi	2/2.0 (-1)	1,100 (+10%)	20mo	$89,500	$81	54
2525 Lot 20 Baltimore Blvd	0.42mi	2/2.0 (-1)	924 (-8%)	13mo	$107,500	$116	52
2112 Spencer Ln	0.61mi	2/1.0 (-1)	988 (-1%)	19mo	$350,000	$354	45

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 61.7%
• Equity multiple: 3.75×
• Total profit: $42,375
• Equity at exit: $8,201

10-year hold

• IRR: 66.3%
• Equity multiple: 7.69×
• Total profit: $103,003
• Equity at exit: $4,755

Cash invested: $15,400 (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 21048

• Active inventory: 36
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,500 medium
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $825/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $805

Break-even live

Break-even rent $481

Max offer price $55,000

Occupancy floor 41%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2717 Cedarhurst Rd Apt 4 Finksburg, MD	2.0	1.0	747	$1,500	$2.01	17d	1	1.20mi

Listing history 24 events

1. 2026-06-18
   days on market $55,000 Active 63 DOM
2. 2026-06-17
   days on market $55,000 Active 62 DOM
3. 2026-06-16
   days on market $55,000 Active 61 DOM
4. 2026-06-15
   days on market $55,000 Active 60 DOM
5. 2026-06-13
   days on market $55,000 Active 58 DOM
6. 2026-06-09
   days on market $55,000 Active 54 DOM
7. 2026-06-08
   days on market $55,000 Active 53 DOM
8. 2026-06-07
   days on market $55,000 Active 52 DOM
9. 2026-06-04
   days on market $55,000 Active 49 DOM
10. 2026-06-03
    days on market $55,000 Active 48 DOM
11. 2026-06-02
    days on market $55,000 Active 47 DOM
12. 2026-06-01
    days on market $55,000 Active 46 DOM
13. 2026-05-31
    days on market $55,000 Active 45 DOM
14. 2026-05-05
    price $55,000 613-char remark

    Show marketing remark (613 chars)

    Well-located 3-bedrom, 2-bath mobile offering a functional layout with strong potential for renovation or customization. This property presents and excellent opportunity for investors , handymen, cash buyers, or end users looking for an affordable home with value-add potential. The home features a spacious floor plan with good room sizes and natural flow throughout. It is being sold in its current condition, allowing the next owner to complete updates and improvements to their preference. Bring your vision and take advantage of this opportunity. Schedule you showing today!. Property is being sold AS IS.

15. 2026-04-16
    listed $65,000 Active 613-char remark

    Show marketing remark (613 chars)

    Well-located 3-bedrom, 2-bath mobile offering a functional layout with strong potential for renovation or customization. This property presents and excellent opportunity for investors , handymen, cash buyers, or end users looking for an affordable home with value-add potential. The home features a spacious floor plan with good room sizes and natural flow throughout. It is being sold in its current condition, allowing the next owner to complete updates and improvements to their preference. Bring your vision and take advantage of this opportunity. Schedule you showing today!. Property is being sold AS IS.

16. 2026-04-08
    historical $65,000 613-char remark

    Show marketing remark (613 chars)

    Well-located 3-bedrom, 2-bath mobile offering a functional layout with strong potential for renovation or customization. This property presents and excellent opportunity for investors , handymen, cash buyers, or end users looking for an affordable home with value-add potential. The home features a spacious floor plan with good room sizes and natural flow throughout. It is being sold in its current condition, allowing the next owner to complete updates and improvements to their preference. Bring your vision and take advantage of this opportunity. Schedule you showing today!. Property is being sold AS IS.

17. 2025-11-30
    historical
18. 2025-10-17
    price $75,000
19. 2025-08-26
    price $80,000
20. 2025-08-19
    status Active
21. 2025-06-18
    historical
22. 2025-06-11
    price $85,000
23. 2025-05-30
    listed $90,000 Active
24. 2025-05-26
    historical

ⓘ 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: $18,000
• − Mortgage interest: −$3,081
• − Property taxes: −$825
• − Insurance: −$275
• − Repairs & maintenance: −$1,440
• − Management: −$1,440
• − Depreciation: −$1,600
• Taxable income: $9,339
• Est. tax owed @ 24.0%: −$2,241
• After-tax cash flow: $7,417/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.

Condition & rehab AI · 4 photos

Fair 45/100 Moderate rehab

This single-family home presents a fair condition with significant potential for moderate renovations. The exterior siding and interior flooring require major repairs, while the kitchen and bathrooms need moderate upgrades. Painting and updating the interior will significantly enhance its curb appeal and value.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Minor interior walls — Some scuff marks
• Major flooring — Worn and stained carpet
• Moderate kitchen cabinets — Dated appearance
• Minor bathroom fixtures — Standard fixtures

Value-add opportunities

• Both Paint interior walls — Enhances curb appeal and interior aesthetics
• Both Replace carpet — Improves comfort and reduces maintenance
• Both Upgrade kitchen cabinets — Modernizes the space and increases appeal
• Both Upgrade bathroom fixtures — Enhances functionality and aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
interior walls · Some scuff marks	Minor	$500–3,000
flooring · Worn and stained carpet	Major	$15,000–50,000
kitchen cabinets · Dated appearance	Moderate	$3,000–15,000
bathroom fixtures · Standard fixtures	Minor	$500–3,000
Total estimated repair cost · 5 items		$34,000–121,000

Value-add ROI direction

• Both Paint interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Replace carpet — Improves comfort and reduces maintenance ↑
• Both Upgrade kitchen cabinets — Modernizes the space and increases appeal ↑
• Both Upgrade bathroom fixtures — Enhances functionality and aesthetics ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Carroll County Public Schools
• NCES district ID: 2400210
• Math proficiency: 32% ▼ -25.00%
• Reading proficiency: 47% ▼ -16.00%
• Median HH income: $84,594
• Composite: 37.33/100
• National rank: #4441
• State rank: #2 of 24 in MD

Livability — Eldersburg

• Score: 75/100
• State rank: #103
• US rank: #3957

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 37,813
• Population (ZIP): 10,002

Population outlook (Carroll County) Hauer SSP2

• Today (2025): 169,677 people
• By 2030: 169,605 · +-0.0%
• By 2040: 166,205 · -2.0%
• By 2050: 158,312 · -6.7%
• By 2075: 143,013 · -15.7%
• By 2100: 122,431 · -27.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Asian 5% Two or more races 4% Black 4% Hispanic / Latino 3%
• Common ancestry: Romanian 5% Slovak 4% Italian 3%
• Foreign-born: 6% · Canada, China, Philippines
• Languages at home: 94% English-only · Other Indo-European 1% Spanish 1% Other Asian/Pacific 1%

Political lean MEDSL · Carroll

• 2024 margin: Strong R (+24.9) · D 36.2% · R 61.2% · Other 2.6%
• 2008→2024 swing: +6.2pp toward D · 2008: -31.2pp · 2024: -24.9pp
• All cycles: 2024: R+24.9 2020: R+23.7 2016: R+36.9 2012: R+34.0 2008: R+31.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -204.28%
• Current HPI: 276.108
• Rent YoY: —
• Metro: —
• 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

-38.9% since first listed

11 events — show timeline

• 2026-05-05 Price Changed $55,000 BRIGHT MLS
• 2026-04-16 Listed $65,000 BRIGHT MLS
• 2026-04-08 Coming Soon $65,000 BRIGHT MLS
• 2025-11-30 Listing Removed — BRIGHT MLS
• 2025-10-17 Price Changed $75,000 BRIGHT MLS
• 2025-08-26 Price Changed $80,000 BRIGHT MLS
• 2025-08-19 Relisted — BRIGHT MLS
• 2025-06-18 Listing Removed — BRIGHT MLS
• 2025-06-11 Price Changed $85,000 BRIGHT MLS
• 2025-05-30 Listed $90,000 BRIGHT MLS
• 2025-05-26 Coming Soon — BRIGHT MLS