4048 Abingin Dr

Abingdon, MD 21009

$87,900C+

2 bd · 2.0 ba · 1,280 sqft · Built 2012 · SingleFamily · Active · 119 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,072/mo
• Mortgage (P&I): −$461
• Tax + insurance: −$146
• HOA: −$0
• Vac / Maint / Mgmt: −$435
• Net cashflow: $1,030/mo
• Annual: $12,356/yr
• Cap rate: 20.35%
• Cash-on-cash: 50.20%
• DSCR: 3.23
• 1% rule: 2.36%
• Cash to close: $24,612

Investor read

• This is a 2-bed/2.0-bath single-family listed at $88k. Condition is rated good.
• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $88k).
• It's been on market 119 days — a 9% lower offer ($80k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $80k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $608 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Harford County Public Schools (suburban): math 22% / reading 39% proficiency, ranked #9 of 24 in MD (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Old Post Road Elementary (math 7% / reading 9%, grade F, #674 of 860 statewide, top 79%, 842 students, 80% FRL); Edgewood Middle (math 7% / reading 31%, grade F, #155 of 225 statewide, top 70%, 999 students, 72% FRL); Edgewood High (math 43% / reading 54%, grade D, #111 of 222 statewide, top 50%, 1,415 students, 62% FRL) — zoned schools average 71% FRL vs 24% district-wide (47 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+7.1%/yr); 160 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 803 units permitted in Harford County in 2024 (26 in 5+ unit buildings).
• 3 sale attempts; this cycle's ask has dropped $6k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 7.1% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 20.3% vs local median 4.4% in Abingdon — 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.

Questions for listing agent

• It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.