11924 Montgomery Ln · Waldorf, MD 20602

$296,500

3 bd · 1.0 ba · 1,346 sqft · SingleFamily public records · 90 Days on market

Built 1948 0.61 ac lot $220/sqft · 15% below area Est $406k · 27% under ↓ 10% since listing

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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 +12.5/30.0
• 1% rule +3.9/10.0
• DSCR +3.7/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Case# 241-932861. FHA IE, sold fully as is. Well-maintained 3-bedroom, 2.5-bath single-family home located in a highly sought-after neighborhood. This unique property features two kitchens, offering flexible living arrangements ideal for extended family or multi-generational use. Conveniently located near shopping, dining, and local amenities

Key facts

• Two kitchens
• Near dining
• Near shopping

Tags

• TWO KITCHENS
• FLEXIBLE LIVING ARRANGEMENTS
• NEAR SHOPPING
• NEAR DINING
• NEAR LOCAL AMENITIES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $296k.

Deal economics

• At list price, monthly cash flow is $-44 ($-529/yr) — negative.
• To cash-flow at today's rent, offer at most $289k (2.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $264k (11.0% below list).
• Recommended offer: $264k (11.0% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 4.8% in Waldorf — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 72/100 on livability (#141 in MD) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, housing A+; Watch: schools D+, crime D-, amenities F.
• Charles County Public Schools (suburban): math 13% / reading 29% proficiency, ranked #14 of 24 in MD (top 58%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 93 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,542 units permitted in Charles County in 2024 (516 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 $9k of value loss. Plan a longer hold.
• Charles 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 90 days — a 6% lower offer ($279k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $32k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 25% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $263,919 (11.0% 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 90 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
3. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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 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: 0.89% ✗
• Cap rate: 6.11%
• Cash-on-cash: -0.64%
• DSCR: 0.97
• GRM: 9.4

CMA / ARV

• ARV (median comp): $405,790
• List price: $296,500
• Delta: -26.93%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3205 High Timber Ct	0.54mi	3/2.0	1,316 (-2%)	6mo	$404,000	$307	62
3195 High Timber Ct	0.57mi	3/1.5	1,316 (-2%)	10mo	$359,900	$273	59
801 Roxbury Ct	0.60mi	3/1.5	1,536 (+14%)	6mo	$350,000	$228	41
3183 Harrow Ct	0.57mi	3/2.0	1,520 (+13%)	16mo	$406,000	$267	34

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: -17.3%
• Equity multiple: 0.39×
• Total profit: $-50,764
• Equity at exit: $44,209

10-year hold

• IRR: -9.2%
• Equity multiple: 0.43×
• Total profit: $-47,458
• Equity at exit: $25,636

Cash invested: $83,020 (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 20602

• Active inventory: 93
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,639 high
• Mortgage (P&I): −$1,555
• Tax from tax record: −$451 /mo · $5,407/yr
• Insurance: −$124
• HOA: −$0
• Vacancy / Maint / Mgmt: −$554
• Net cashflow: $-44

Break-even live

Break-even rent $2,695

Max offer price $288,714

Occupancy floor 97%

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: $74,125
• Closing costs: $8,895
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3381 Ryon Ct Waldorf, MD	3.0	1.5	1232	$2,200	$1.79	11d	1	0.32mi
3281 Ryon Ct Waldorf, MD	3.0	1.5	1232	$2,299	$1.87	43d	1	0.37mi
12111 Fielding Pl Waldorf, MD	3.0	2.5	1835	$3,270	$1.78	5d	7	0.42mi
3379 Justice Ct Waldorf, MD	3.0	1.5	1085	$1,975	$1.82	5d	1	0.60mi
3125 Heathcote Rd Waldorf, MD	3.0	1.0	1034	$1,995	$1.93	43d	1	0.64mi
3053 Heathcote Rd Waldorf, MD	3.0	1.5	1034	$2,300	$2.22	43d	1	0.66mi
3870 Gateview Pl Waldorf, MD	3.0	2.5	1672	$2,495	$1.49	20d	1	0.78mi
2094 Chapelside Ct Waldorf, MD	3.0	2.0	1432	$2,900	$2.03	43d	1	0.93mi
3975 Wintergreen Pl Waldorf, MD	3.0	2.0	1240	$2,400	$1.94	24d	1	0.95mi
12344 Sweetbriar Pl Waldorf, MD	3.0	3.0	1776	$2,700	$1.52	43d	1	0.99mi
3454 Tamarack Ct Waldorf, MD	4.0	2.0	1368	$2,900	$2.12	43d	1	1.13mi
1015 Copperfield Ct Waldorf, MD	3.0	2.5	1380	$2,600	$1.88	22d	1	1.34mi
2708 Grindall Ct Waldorf, MD	3.0	2.0	1506	$2,650	$1.76	12d	1	1.36mi
2324 Kent Ct Waldorf, MD	3.0	2.5	1614	$2,900	$1.80	3d	1	1.41mi
1001 Tyler Ct Waldorf, MD	3.0	1.5	1315	$2,600	$1.98	22d	1	1.43mi
11303 Golden Eagle Pl Waldorf, MD	3.0	3.5	1352	$2,700	$2.00	43d	1	1.46mi
11203 Barnswallow Pl Waldorf, MD	4.0	2.0	1740	$2,800	$1.61	4d	1	1.46mi
2619 Rooks Head Pl Waldorf, MD	3.0	1.5	1188	$2,500	$2.10	43d	1	1.47mi
30 Keepsake Pl Waldorf, MD	3.0	1.5	1344	$2,000	$1.49	24d	1	1.50mi

Listing history 5 events

1. 2026-06-15
   status $296,500 Pending 90 DOM
2. 2026-05-15
   status Active 344-char remark

   Show marketing remark (344 chars)

   Case# 241-932861. FHA IE, sold fully as is. Well-maintained 3-bedroom, 2.5-bath single-family home located in a highly sought-after neighborhood. This unique property features two kitchens, offering flexible living arrangements ideal for extended family or multi-generational use. Conveniently located near shopping, dining, and local amenities

3. 2026-03-09
   status Pending 344-char remark

   Show marketing remark (344 chars)

   Case# 241-932861. FHA IE, sold fully as is. Well-maintained 3-bedroom, 2.5-bath single-family home located in a highly sought-after neighborhood. This unique property features two kitchens, offering flexible living arrangements ideal for extended family or multi-generational use. Conveniently located near shopping, dining, and local amenities

4. 2026-03-02
   price $296,500 344-char remark

   Show marketing remark (344 chars)

   Case# 241-932861. FHA IE, sold fully as is. Well-maintained 3-bedroom, 2.5-bath single-family home located in a highly sought-after neighborhood. This unique property features two kitchens, offering flexible living arrangements ideal for extended family or multi-generational use. Conveniently located near shopping, dining, and local amenities

5. 2025-12-20
   listed $329,000 Active 344-char remark

   Show marketing remark (344 chars)

   Case# 241-932861. FHA IE, sold fully as is. Well-maintained 3-bedroom, 2.5-bath single-family home located in a highly sought-after neighborhood. This unique property features two kitchens, offering flexible living arrangements ideal for extended family or multi-generational use. Conveniently located near shopping, dining, and local amenities

ⓘ 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: $5,407 · $451/mo
• Projected year-2 tax: $5,407 · $451/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥103°F today · 16 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 25% 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: $31,670
• − Mortgage interest: −$16,609
• − Property taxes: −$5,407
• − Insurance: −$1,482
• − Repairs & maintenance: −$2,534
• − Management: −$2,534
• − Depreciation: −$8,625
• Taxable loss: −$5,521
• Est. tax savings @ 24.0%: +$1,325
• After-tax cash flow: $796/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: Charles County Public Schools
• NCES district ID: 2400270
• Math proficiency: 13% ▼ -19.00%
• Reading proficiency: 29% ▼ -13.00%
• Median HH income: $90,389
• Composite: 22.54/100
• National rank: #8087
• State rank: #14 of 24 in MD

Livability — Waldorf

• Score: 72/100
• State rank: #141
• US rank: #6083

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waldorf, MD
• County: Charles County · 103,527 people
• City population: 103,527
• Metro: Washington-Arlington-Alexandria, DC-VA-MD-WV
• Population (ZIP): 28,331
• Household income: $107,360
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 867.0

Population outlook (Charles County) Hauer SSP2

• Today (2025): 176,616 people
• By 2030: 186,471 · +5.6%
• By 2040: 206,472 · +16.9%
• By 2050: 224,883 · +27.3%
• By 2075: 272,101 · +54.1%
• By 2100: 303,564 · +71.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 62% White 19% Two or more races 11% Hispanic / Latino 9% Asian 2%
• Common ancestry: Lithuanian 1% Iranian 1% Italian 1%
• Foreign-born: 11% · Canada, South Korea, Jamaica
• Languages at home: 88% English-only · Spanish 6% Other Indo-European 1% Tagalog/Filipino 1%

Political lean MEDSL · Charles

• 2024 margin: Solid D (+40.7) · D 69.2% · R 28.5% · Other 2.2%
• 2008→2024 swing: +15.2pp toward D · 2008: 25.5pp · 2024: 40.7pp
• All cycles: 2024: D+40.7 2020: D+40.9 2016: D+30.2 2012: D+31.3 2008: D+25.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -261.39%
• Current HPI: 267.3445
• 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

-9.9% since first listed

4 events — show timeline

• 2026-05-15 Relisted — BRIGHT MLS
• 2026-03-09 Pending — BRIGHT MLS
• 2026-03-02 Price Changed $296,500 BRIGHT MLS
• 2025-12-20 Listed $329,000 BRIGHT MLS

Property tax history

+7.2%/yr

Latest (2025): $5,407 · +51.9% YoY. Source: county tax records.