2551-#77 Baltimore Blvd · Eldersburg, MD 21048

$127,500

2 bd · 2.0 ba · 1,064 sqft · Manufactured · 86 Days on market

Built 2026 Poor condition $120/sqft · 18% above area Est $108k · 18% over

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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 +25.7/30.0
• DSCR +8.5/10.0
• 1% rule +6.8/10.0
• Livability +3.8/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Coming Soon to the sought-after Hillandale Homes Mobile Park! Be the first to own this brand-new 2026 custom-built Champion single-wide home—designed with the space and feel of a small double-wide. This thoughtfully crafted home features 2 bedrooms and 2 full bathrooms, offering both comfort and functionality. The kitchen offers stainless steel appliances, a pantry, and a wraparound counter—perfect for cooking and entertaining. The dining area features a built-in hutch and cabinetry, adding both charm and extra storage. The primary bedroom includes a private en-suite bath with a walk-in shower and a spacious walk-in closet. The second bedroom is filled with natural light and showcases a beautiful bay window. The hall bathroom offers a traditional tub/shower combination and a transom window. Additional highlights include a separate laundry area with stackable washer and dryer hook up and a built-in sprinkler system for added safety and peace of mind. Along with 4 x 6 pressure treated deck at front and back entry ways. This is definitely a must-see! APPLICATION LINK: https://apply. link/OvVVFec Community Details: All residents must be park approved. Ground rent is $730/month (subject to annual adjustment per park rules) and includes water, sewer, trash pickup twice weekly, and snow removal of common areas. Residents are responsible for maintaining their individual lot. Don’t miss your opportunity to own a beautifully designed home in this desirable community! Builder warranty will convey to new buyer.

Key facts

• Built 2026
• Listed 85 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $128k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $304 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $128k).
• Recommended offer: $120k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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 $882 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($120k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $20k; list at $128k implies a 538% gain — meaningful room to come down on a strong offer.

Recommended offer $119,850 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 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: 1.18% ✓
• Cap rate: 9.15%
• Cash-on-cash: 10.21%
• DSCR: 1.45
• GRM: 7.1

CMA / ARV

• ARV (median comp): $108,148
• List price: $127,500
• Delta: 17.89%
• Verdict: OVERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2525 Baltimore Blvd #14	0.21mi	2/1.0	1,000 (-6%)	13mo	$10,000	$10	65

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: -0.9%
• Equity multiple: 0.96×
• Total profit: $-1,284
• Equity at exit: $19,011

10-year hold

• IRR: 8.7%
• Equity multiple: 1.67×
• Total profit: $23,895
• Equity at exit: $11,024

Cash invested: $35,700 (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: 7.1×

Monthly cashflow live

• Estimated rent: $1,500 medium
• Mortgage (P&I): −$669
• Tax est. 1.5%: −$159 /mo · $1,912/yr
• Insurance: −$53
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $304

Break-even live

Break-even rent $1,115

Max offer price $127,500

Occupancy floor 75%

Sensitivity live

Price	-10% $392	-5% $348	+0% $304	+5% $260	+10% $216
Rent	-10% $185	-5% $245	+0% $304	+5% $363	+10% $422
Rate	-1.0pp $368	-0.5pp $336	base $304	+0.5pp $271	+1.0pp $237

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: $31,875
• Closing costs: $3,825
• 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	19d	1	1.39mi

Listing history 18 events

1. 2026-06-21
   days on market $127,500 Coming Soon 86 DOM
2. 2026-06-18
   days on market $127,500 Coming Soon 83 DOM
3. 2026-06-17
   days on market $127,500 Coming Soon 82 DOM
4. 2026-06-16
   days on market $127,500 Coming Soon 81 DOM
5. 2026-06-15
   days on market $127,500 Coming Soon 80 DOM
6. 2026-06-13
   days on market $127,500 Coming Soon 78 DOM
7. 2026-06-09
   days on market $127,500 Coming Soon 74 DOM
8. 2026-06-08
   days on market $127,500 Coming Soon 73 DOM
9. 2026-06-07
   days on market $127,500 Coming Soon 72 DOM
10. 2026-06-04
    days on market $127,500 Coming Soon 69 DOM
11. 2026-06-03
    days on market $127,500 Coming Soon 68 DOM
12. 2026-06-02
    days on market $127,500 Coming Soon 67 DOM
13. 2026-06-01
    days on market $127,500 Coming Soon 66 DOM
14. 2026-05-31
    days on market $127,500 Coming Soon 65 DOM
15. 2026-03-27
    historical $127,500 1550-char remark

    Show marketing remark (1550 chars)

    Coming Soon to the sought-after Hillandale Homes Mobile Park! Be the first to own this brand-new 2026 custom-built Champion single-wide home—designed with the space and feel of a small double-wide. This thoughtfully crafted home features 2 bedrooms and 2 full bathrooms, offering both comfort and functionality. The kitchen offers stainless steel appliances, a pantry, and a wraparound counter—perfect for cooking and entertaining. The dining area features a built-in hutch and cabinetry, adding both charm and extra storage. The primary bedroom includes a private en-suite bath with a walk-in shower and a spacious walk-in closet. The second bedroom is filled with natural light and showcases a beautiful bay window. The hall bathroom offers a traditional tub/shower combination and a transom window. Additional highlights include a separate laundry area with stackable washer and dryer hook up and a built-in sprinkler system for added safety and peace of mind. Along with 4 x 6 pressure treated deck at front and back entry ways. This is definitely a must-see! APPLICATION LINK: https://apply. link/OvVVFec Community Details: All residents must be park approved. Ground rent is $730/month (subject to annual adjustment per park rules) and includes water, sewer, trash pickup twice weekly, and snow removal of common areas. Residents are responsible for maintaining their individual lot. Don’t miss your opportunity to own a beautifully designed home in this desirable community! Builder warranty will convey to new buyer.

16. 2012-06-28
    soldstatus $20,000 291-char remark

    Show marketing remark (291 chars)

    Very well maintained 1968 mobile home with a 28X7 enclosed sun porch. All appliances convey. FHA oil heat and CAC. Buyer must be approved by park manager. Ground rent is presently $512 monthly and includes water, sewer, taxes , trash and snow removal. Call today and make this your new home.

17. 2012-04-21
    historical 291-char remark

    Show marketing remark (291 chars)

    Very well maintained 1968 mobile home with a 28X7 enclosed sun porch. All appliances convey. FHA oil heat and CAC. Buyer must be approved by park manager. Ground rent is presently $512 monthly and includes water, sewer, taxes , trash and snow removal. Call today and make this your new home.

18. 2012-04-16
    listed $22,000 291-char remark

    Show marketing remark (291 chars)

    Very well maintained 1968 mobile home with a 28X7 enclosed sun porch. All appliances convey. FHA oil heat and CAC. Buyer must be approved by park manager. Ground rent is presently $512 monthly and includes water, sewer, taxes , trash and snow removal. Call today and make this your new home.

ⓘ 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: −$7,142
• − Property taxes: −$1,912
• − Insurance: −$638
• − Repairs & maintenance: −$1,440
• − Management: −$1,440
• − Depreciation: −$3,709
• Taxable income: $1,719
• Est. tax owed @ 24.0%: −$413
• After-tax cash flow: $3,234/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 · 1 photo

Poor 20/100 Extensive rehab

This mobile home requires extensive repairs and updates to bring it up to a livable condition. Significant investment is needed to address the poor condition of the appliances, exterior siding, and interior walls.

Repairs flagged

• Major Appliances — Old and worn
• Major Exterior siding — Weathered
• Major Interior walls/paint — No visible condition

Value-add opportunities

• Resale New appliances — Modern appliances enhance appeal
• Resale New exterior siding — Fresh siding improves curb appeal
• Resale Interior paint and updates — Fresh paint and updates make the home more attractive

Renovation cost estimate screening

Repair item	Severity	Est. cost
Appliances · Old and worn	Major	$15,000–50,000
Exterior siding · Weathered	Major	$15,000–50,000
Interior walls/paint · No visible condition	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Resale New appliances — Modern appliances enhance appeal ↑
• Resale New exterior siding — Fresh siding improves curb appeal ↑
• Resale Interior paint and updates — Fresh paint and updates make the home more attractive ↑

ⓘ 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

+479.5% since first listed

4 events — show timeline

• 2026-03-27 Coming Soon $127,500 BRIGHT MLS
• 2012-06-28 Sold (MLS) $20,000 BRIGHT MLS
• 2012-04-21 Listing Removed — BRIGHT MLS
• 2012-04-16 Listed $22,000 BRIGHT MLS