23620 Overlook Park Dr #302 · Clarksburg, MD 20871

$345,000

2 bd · 2.0 ba · 1,275 sqft · Condo public records · 112 Days on market

Built 2008 $271/sqft · 21% below area Est $438k · 21% under $545/mo HOA · 18% of rent

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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 +7.8/30.0
• 1% rule +3.6/10.0
• Schools +3.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming brick 2-bedroom, 2-bath condo in the highly sought-after Clarksburg Town Center! Plenty of parking around! This beautifully maintained home offers nearly 1,300 square feet of bright, comfortable living space filled with thoughtful upgrades throughout. From elegant crown molding and chair rail detailing to custom paint, updated flooring (2025), and brand new water heater (2025), every detail has been carefully curated. The spacious gourmet kitchen features rich 42” cabinetry, granite countertops, stylish stainless steel appliances, gas cooking, a large single-basin sink, built-in microwave, and a peninsula with seating—perfect for casual dining or entertaining. The open-concept living and dining areas are filled with natural light and lead to a private balcony with peaceful views. Both bedrooms are generously sized, including a spacious primary suite with a walk-in closet and private bath. Additional highlights include ample storage throughout. Enjoy tons of parking and an unbeatable location just minutes from community amenities, Clarksburg Premium Outlets, restaurants, parks, commuter routes including I-270, and more. This one truly has it all—style, space, and location. A must-see!

Key facts

• $545 HOA
• Community pool
• Built 2008

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $345k.

Deal economics

• At list price, monthly cash flow is $-390 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $276k (20.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $296k (14.3% below list).
• Recommended offer: $276k (20.0% below list) — sets the bar for cash-flow.
• Cap rate 4.9% vs local median 2.8% in Clarksburg — 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 64/100 on livability (#270 in MD) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, schools A-; Watch: amenities F, commute F, cost of living F.
• Montgomery County Public Schools (suburban): math 27% / reading 45% proficiency, ranked #3 of 24 in MD (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 103 active listings in the ZIP; 8 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; 3,880 units permitted in Montgomery County in 2024 (2,054 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Montgomery County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 112 days — a 9% lower offer ($314k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 18y 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.

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 $276,145 (20.0% 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 112 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are A-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?
8. 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?
9. 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.
10. 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.
11. 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: 0.86% ✗
• Cap rate: 4.94%
• Cash-on-cash: -4.84%
• DSCR: 0.78
• GRM: 9.7

CMA / ARV

• ARV (median comp): $437,533
• List price: $345,000
• Delta: -21.15%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -24.4%
• Equity multiple: 0.17×
• Total profit: $-80,476
• Equity at exit: $51,441

10-year hold

• IRR: -19.6%
• Equity multiple: -0.05×
• Total profit: $-101,011
• Equity at exit: $29,829

Cash invested: $96,600 (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 20871

• Home prices YoY: -28.7%
• Active inventory: 103
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,956 high
• Mortgage (P&I): −$1,809
• Tax from tax record: −$227 /mo · $2,722/yr
• Insurance: −$144
• HOA: −$545
• Vacancy / Maint / Mgmt: −$621
• Net cashflow: $-390

Break-even live

Break-even rent $3,449

Max offer price $276,145

Occupancy floor —

Sensitivity live

Price	-10% $-194	-5% $-292	+0% $-390	+5% $-487	+10% $-585
Rent	-10% $-623	-5% $-507	+0% $-390	+5% $-273	+10% $-156
Rate	-1.0pp $-216	-0.5pp $-302	base $-390	+0.5pp $-479	+1.0pp $-570

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: $86,250
• Closing costs: $10,350
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23521 Frederick Rd Clarksburg, MD	3.0	2.0	1744	$3,500	$2.01	45d	1	0.35mi
23312 Brewers Tavern Way Clarksburg, MD	3.0	2.5	1600	$2,995	$1.87	19d	1	0.39mi
23312 Brewers Tavern Way Clarksburg, MD	3.0	4.0	1650	$2,995	$1.82	25d	1	0.39mi
12824 Clarksburg Square Rd Clarksburg, MD	2.0–3.0	2.0	1585	$2,575	$1.62	15d	2	0.47mi
12824 Clarksburg Square Rd Clarksburg, MD	3.0	2.0	1780	$2,695	$1.51	6d	1	0.47mi
23404 Rainbow Arch Dr #115 Clarksburg, MD	3.0	1.5	1248	$2,500	$2.00	45d	1	0.69mi
22520 Phillips St #401 Clarksburg, MD	3.0	2.5	1844	$2,800	$1.52	19d	1	1.33mi
22551 Cabin Branch Ave Clarksburg, MD	3.0	1.0–2.0	1028	$2,803	$2.73	0d	17	1.49mi

HOA detail condo

• Monthly dues: $545 · $6,540/yr
• Likely covers: watergas
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-21
   days on market $345,000 Active 112 DOM
2. 2026-06-18
   days on market $345,000 Active 109 DOM
3. 2026-06-17
   days on market $345,000 Active 108 DOM
4. 2026-06-16
   days on market $345,000 Active 107 DOM
5. 2026-06-15
   days on market $345,000 Active 106 DOM
6. 2026-06-13
   days on market $345,000 Active 104 DOM
7. 2026-06-09
   days on market $345,000 Active 100 DOM
8. 2026-06-08
   pricedays on market $345,000 Active 99 DOM
9. 2026-06-07
   days on market $350,000 Active 98 DOM
10. 2026-06-04
    days on market $350,000 Active 95 DOM
11. 2026-06-03
    days on market $350,000 Active 94 DOM
12. 2026-06-02
    days on market $350,000 Active 93 DOM
13. 2026-06-01
    days on market $350,000 Active 92 DOM
14. 2026-05-31
    days on market $350,000 Active 91 DOM
15. 2026-03-02
    listed $350,000 Active 1245-char remark

    Show marketing remark (1245 chars)

    Welcome to this charming brick 2-bedroom, 2-bath condo in the highly sought-after Clarksburg Town Center! Plenty of parking around! This beautifully maintained home offers nearly 1,300 square feet of bright, comfortable living space filled with thoughtful upgrades throughout. From elegant crown molding and chair rail detailing to custom paint, updated flooring (2025), and brand new water heater (2025), every detail has been carefully curated. The spacious gourmet kitchen features rich 42” cabinetry, granite countertops, stylish stainless steel appliances, gas cooking, a large single-basin sink, built-in microwave, and a peninsula with seating—perfect for casual dining or entertaining. The open-concept living and dining areas are filled with natural light and lead to a private balcony with peaceful views. Both bedrooms are generously sized, including a spacious primary suite with a walk-in closet and private bath. Additional highlights include ample storage throughout. Enjoy tons of parking and an unbeatable location just minutes from community amenities, Clarksburg Premium Outlets, restaurants, parks, commuter routes including I-270, and more. This one truly has it all—style, space, and location. A must-see!

16. 2026-02-12
    historical $350,000 1245-char remark

    Show marketing remark (1245 chars)

    Welcome to this charming brick 2-bedroom, 2-bath condo in the highly sought-after Clarksburg Town Center! Plenty of parking around! This beautifully maintained home offers nearly 1,300 square feet of bright, comfortable living space filled with thoughtful upgrades throughout. From elegant crown molding and chair rail detailing to custom paint, updated flooring (2025), and brand new water heater (2025), every detail has been carefully curated. The spacious gourmet kitchen features rich 42” cabinetry, granite countertops, stylish stainless steel appliances, gas cooking, a large single-basin sink, built-in microwave, and a peninsula with seating—perfect for casual dining or entertaining. The open-concept living and dining areas are filled with natural light and lead to a private balcony with peaceful views. Both bedrooms are generously sized, including a spacious primary suite with a walk-in closet and private bath. Additional highlights include ample storage throughout. Enjoy tons of parking and an unbeatable location just minutes from community amenities, Clarksburg Premium Outlets, restaurants, parks, commuter routes including I-270, and more. This one truly has it all—style, space, and location. A must-see!

17. 2024-09-23
    soldstatus $330,000
18. 2024-09-06
    soldstatus $330,000 Closed 799-char remark

    Show marketing remark (799 chars)

    * * * WELCOME TO THIS CHARMING BRICK 2 BEDROOM & 2 BATHROOM PENTHOUSE CONDO IN THE SOUGHT AFTER CLARKSBURG TOWN CENTER * * * THIS LOVELY TOP FLOOR HOME ENJOYS BEAUTIFUL UPGRADES THROUGHOUT, INCLUDING CROWN TRIM & CHAIR RAIL, CUSTOM PAINT, A LARGE GOURMET KITCHEN WITH TALL RICH 42" CABINETRY, GRANITE COUNTER TOPS, STYLISH BLACK APPLIANCES, LAMINATE FLOORING, GAS COOKING, A PENINSULA WITH SEATING & A BUILT IN MICROWAVE * * * LARGE BEDROOMS, A FULL-SIZE LAUNDRY ROOM, SEPARATE DINING AREA, OPEN BRIGHT LIVING ROOM WITH SLIDING DOORS TO A BALCONY WITH SOME VIEWS OF TREES, THE POND AND PARK ACROSS THE STREET * * * TONS OF PARKING * * * AMAZING LOCATION CLOSE TO COMMUNITY AMENITIES, THE CLARKSBURG OUTLETS, COMMUTER ROUTES, RESTAURANTS, ETC * * * MUST SEE * * *

19. 2024-08-08
    status Pending 799-char remark

    Show marketing remark (799 chars)

    * * * WELCOME TO THIS CHARMING BRICK 2 BEDROOM & 2 BATHROOM PENTHOUSE CONDO IN THE SOUGHT AFTER CLARKSBURG TOWN CENTER * * * THIS LOVELY TOP FLOOR HOME ENJOYS BEAUTIFUL UPGRADES THROUGHOUT, INCLUDING CROWN TRIM & CHAIR RAIL, CUSTOM PAINT, A LARGE GOURMET KITCHEN WITH TALL RICH 42" CABINETRY, GRANITE COUNTER TOPS, STYLISH BLACK APPLIANCES, LAMINATE FLOORING, GAS COOKING, A PENINSULA WITH SEATING & A BUILT IN MICROWAVE * * * LARGE BEDROOMS, A FULL-SIZE LAUNDRY ROOM, SEPARATE DINING AREA, OPEN BRIGHT LIVING ROOM WITH SLIDING DOORS TO A BALCONY WITH SOME VIEWS OF TREES, THE POND AND PARK ACROSS THE STREET * * * TONS OF PARKING * * * AMAZING LOCATION CLOSE TO COMMUNITY AMENITIES, THE CLARKSBURG OUTLETS, COMMUTER ROUTES, RESTAURANTS, ETC * * * MUST SEE * * *

20. 2024-07-24
    historical Active Under Contract 799-char remark

    Show marketing remark (799 chars)

    * * * WELCOME TO THIS CHARMING BRICK 2 BEDROOM & 2 BATHROOM PENTHOUSE CONDO IN THE SOUGHT AFTER CLARKSBURG TOWN CENTER * * * THIS LOVELY TOP FLOOR HOME ENJOYS BEAUTIFUL UPGRADES THROUGHOUT, INCLUDING CROWN TRIM & CHAIR RAIL, CUSTOM PAINT, A LARGE GOURMET KITCHEN WITH TALL RICH 42" CABINETRY, GRANITE COUNTER TOPS, STYLISH BLACK APPLIANCES, LAMINATE FLOORING, GAS COOKING, A PENINSULA WITH SEATING & A BUILT IN MICROWAVE * * * LARGE BEDROOMS, A FULL-SIZE LAUNDRY ROOM, SEPARATE DINING AREA, OPEN BRIGHT LIVING ROOM WITH SLIDING DOORS TO A BALCONY WITH SOME VIEWS OF TREES, THE POND AND PARK ACROSS THE STREET * * * TONS OF PARKING * * * AMAZING LOCATION CLOSE TO COMMUNITY AMENITIES, THE CLARKSBURG OUTLETS, COMMUTER ROUTES, RESTAURANTS, ETC * * * MUST SEE * * *

21. 2024-07-13
    listed $335,000 Active 799-char remark

    Show marketing remark (799 chars)

    * * * WELCOME TO THIS CHARMING BRICK 2 BEDROOM & 2 BATHROOM PENTHOUSE CONDO IN THE SOUGHT AFTER CLARKSBURG TOWN CENTER * * * THIS LOVELY TOP FLOOR HOME ENJOYS BEAUTIFUL UPGRADES THROUGHOUT, INCLUDING CROWN TRIM & CHAIR RAIL, CUSTOM PAINT, A LARGE GOURMET KITCHEN WITH TALL RICH 42" CABINETRY, GRANITE COUNTER TOPS, STYLISH BLACK APPLIANCES, LAMINATE FLOORING, GAS COOKING, A PENINSULA WITH SEATING & A BUILT IN MICROWAVE * * * LARGE BEDROOMS, A FULL-SIZE LAUNDRY ROOM, SEPARATE DINING AREA, OPEN BRIGHT LIVING ROOM WITH SLIDING DOORS TO A BALCONY WITH SOME VIEWS OF TREES, THE POND AND PARK ACROSS THE STREET * * * TONS OF PARKING * * * AMAZING LOCATION CLOSE TO COMMUNITY AMENITIES, THE CLARKSBURG OUTLETS, COMMUTER ROUTES, RESTAURANTS, ETC * * * MUST SEE * * *

22. 2008-12-08
    historical
23. 2008-10-14
    soldstatus $249,900
24. 2008-09-25
    soldstatus $249,900 Sold
25. 2008-07-01
    price $249,900
26. 2008-04-24
    price $289,900
27. 2008-01-25
    listed $299,900

ⓘ 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: $2,722 · $227/mo
• Projected year-2 tax: $3,241 · $270/mo
• Expected delta: +$519/yr (+$43/mo · 19.1%)

ⓘ 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 6/10 Major 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 8% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,469
• − Mortgage interest: −$19,325
• − Property taxes: −$2,722
• − Insurance: −$1,725
• − Repairs & maintenance: −$2,838
• − Management: −$2,838
• − HOA: −$6,540
• − Depreciation: −$10,036
• Taxable loss: −$10,555
• Est. tax savings @ 24.0%: +$2,533
• After-tax cash flow: $-2,144/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: Montgomery County Public Schools
• NCES district ID: 2400480
• Math proficiency: 27% ▼ -21.00%
• Reading proficiency: 45% ▼ -10.00%
• Median HH income: $97,191
• Composite: 35.62/100
• National rank: #4889
• State rank: #3 of 24 in MD

Livability — Clarksburg

• Score: 64/100
• State rank: #270
• US rank: #13709

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Clarksburg, MD
• County: Montgomery County · 961,106 people
• City population: 30,182
• Metro: Washington-Arlington-Alexandria, DC-VA-MD-WV
• Population (ZIP): 30,182
• Household income: $177,523
• Rent vs Own: 9.4% rent · 90.6% own
• Severe rent burden: 290.0

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 1,173,231 people
• By 2030: 1,237,402 · +5.5%
• By 2040: 1,365,115 · +16.4%
• By 2050: 1,491,592 · +27.1%
• By 2075: 1,803,893 · +53.8%
• By 2100: 2,035,619 · +73.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.73)
• Race & ethnicity: Asian 38% White 29% Black 15% Hispanic / Latino 12% Two or more races 9%
• Common ancestry: Romanian 3% Slovak 2% Italian 1%
• Foreign-born: 37% · Canada, China, South Korea
• Languages at home: 52% English-only · Spanish 9% Other Asian/Pacific 9% Other Indo-European 9%

Political lean MEDSL · Montgomery

• 2024 margin: Solid D (+53.3) · D 75.2% · R 21.9% · Other 2.9%
• 2008→2024 swing: +8.7pp toward D · 2008: 44.6pp · 2024: 53.3pp
• All cycles: 2024: D+53.3 2020: D+59.6 2016: D+55.5 2012: D+43.4 2008: D+44.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -96.35%
• Current HPI: 238.8667
• Rent YoY: —
• 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

+16.7% since first listed

13 events — show timeline

• 2026-03-02 Listed $350,000 BRIGHT MLS
• 2026-02-12 Coming Soon $350,000 BRIGHT MLS
• 2024-09-23 Sold (Public Records) $330,000 Public Records
• 2024-09-06 Sold (MLS) $330,000 BRIGHT MLS
• 2024-08-08 Pending — BRIGHT MLS
• 2024-07-24 Contingent — BRIGHT MLS
• 2024-07-13 Listed $335,000 BRIGHT MLS
• 2008-12-08 Delisted — MRIS
• 2008-10-14 Sold (Public Records) $249,900 Public Records
• 2008-09-25 Sold (MLS) $249,900 MRIS
• 2008-07-01 Price Changed $249,900 MRIS
• 2008-04-24 Price Changed $289,900 MRIS
• 2008-01-25 Listed $299,900 MRIS

Property tax history

+1.1%/yr

Latest (2025): $2,722 · +337.8% YoY. Source: county tax records.