3557 Floating Leaf Ln Unit F101 · Maryland City, MD 20724

$275,000

2 bd · 1.5 ba · 980 sqft · Condo public records · 101 Days on market

Built 1994 $281/sqft · 5% below area Est $291k · 5% under $381/mo HOA · 16% 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 +10.0/15.0
• Cash flow +7.7/30.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Appreciation +3.5/10.0
• 1% rule +3.4/10.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• DSCR +1.8/10.0

Listing remarks MLS

This well-maintained first floor condo offers the perfect combination of comfort, convenience, and lifestyle. Featuring 2 spacious bedrooms and 1.5 bathrooms, this home provides an open and functional layout ideal for everyday living. The ground-floor location offers easy access with no stairs — perfect for added convenience. The additional bedroom is ideal for guests, a home office, or flex space. Some amenities: Community center, Swimming pool, Tennis court, Basketball court, Tot-lots/playground, Scenic hiking & biking trail. Some photos virtually staged. Prime location just off Route 198 and the BW Parkway (295), offering quick access to DC, Baltimore, Fort Meade, and NSA. Conveniently located near shopping, restaurants, and everyday essentials.

Key facts

• $381 HOA
• Community pool
• Built 1994

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $275k.

Deal economics

• At list price, monthly cash flow is $-313 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $220k (20.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $232k (15.5% below list).
• Recommended offer: $220k (20.1% below list) — sets the bar for cash-flow.
• Cap rate 4.9% vs local median 3.4% in Maryland City — 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 (#108 in MD, #4,306 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: crime C-, schools D-, commute F.
• Anne Arundel County Public Schools (suburban): math 20% / reading 37% proficiency, ranked #10 of 24 in MD (top 42%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+5.8%/yr); 129 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,303 units permitted in Anne Arundel County in 2024 (299 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 $8k of value loss. Plan a longer hold.
• Anne Arundel County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($250k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y ago; this cycle's ask has dropped $15k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $219,658 (20.1% 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 101 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 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?
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: 0.84% ✗
• Cap rate: 4.93%
• Cash-on-cash: -4.88%
• DSCR: 0.78
• GRM: 9.9

CMA / ARV

• ARV (median comp): $290,877
• List price: $275,000
• Delta: -5.46%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.84% rent growth · sell at horizon

5-year hold

• IRR: -20.9%
• Equity multiple: 0.25×
• Total profit: $-57,499
• Equity at exit: $41,003

10-year hold

• IRR: -8.2%
• Equity multiple: 0.41×
• Total profit: $-45,296
• Equity at exit: $23,777

Cash invested: $77,000 (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 20724

• Home prices YoY: -1.1%
• Rents YoY: 5.8%
• Active inventory: 129
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,324 high
• Mortgage (P&I): −$1,442
• Tax from tax record: −$211 /mo · $2,535/yr
• Insurance: −$115
• HOA: −$381
• Vacancy / Maint / Mgmt: −$488
• Net cashflow: $-313

Break-even live

Break-even rent $2,720

Max offer price $219,658

Occupancy floor —

Sensitivity live

Price	-10% $-158	-5% $-235	+0% $-313	+5% $-391	+10% $-469
Rent	-10% $-497	-5% $-405	+0% $-313	+5% $-221	+10% $-130
Rate	-1.0pp $-175	-0.5pp $-243	base $-313	+0.5pp $-385	+1.0pp $-457

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3523 Piney Woods Pl Laurel, MD	2.0	2.0	1039	$2,100	$2.02	44d	1	0.25mi
8500 Summit View Rd Laurel, MD	1.0–3.0	1.0–2.0	1033	$2,278	$2.21	3d	38	0.26mi
8185 Scenic Meadow Dr Laurel, MD	1.0–3.0	1.0–2.0	1131	$2,489	$2.20	3d	1	0.37mi
7903 Orion Cir Laurel, MD	1.0–3.0	1.0–2.0	1277	$2,629	$2.06	2d	28	0.43mi
8615 Jacks Reef Rd Laurel, MD	1.0	1.0	725	$1,695	$2.34	44d	1	0.49mi
3109 River Bend Ct Unit D202 Laurel, MD	2.0	2.0	1038	$2,150	$2.07	4d	1	0.63mi
3109 River Bend Ct Laurel, MD	2.0	2.0	1038	$2,150	$2.07	44d	1	0.63mi
3372 Old Line Ave Laurel, MD	1.0	1.0	1000	$1,600	$1.60	25d	1	1.00mi
10125 Junction Dr Annapolis Junction, MD	2.0	1.0–2.0	1057	$3,534	$3.34	12d	29	1.45mi

HOA detail condo

• Monthly dues: $381 · $4,572/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-21
   days on market $275,000 Active 101 DOM
2. 2026-06-18
   days on market $275,000 Active 98 DOM
3. 2026-06-17
   days on market $275,000 Active 97 DOM
4. 2026-06-16
   days on market $275,000 Active 96 DOM
5. 2026-06-15
   days on market $275,000 Active 95 DOM
6. 2026-06-13
   days on market $275,000 Active 93 DOM
7. 2026-06-09
   days on market $275,000 Active 89 DOM
8. 2026-06-08
   days on market $275,000 Active 88 DOM
9. 2026-06-07
   pricedays on market $275,000 Active 87 DOM
10. 2026-06-04
    days on market $280,000 Active 84 DOM
11. 2026-06-03
    days on market $280,000 Active 83 DOM
12. 2026-06-02
    days on market $280,000 Active 82 DOM
13. 2026-06-01
    days on market $280,000 Active 81 DOM
14. 2026-05-31
    days on market $280,000 Active 80 DOM
15. 2026-05-16
    price $280,000 770-char remark

    Show marketing remark (770 chars)

    This well-maintained first floor condo offers the perfect combination of comfort, convenience, and lifestyle. Featuring 2 spacious bedrooms and 1.5 bathrooms, this home provides an open and functional layout ideal for everyday living. The ground-floor location offers easy access with no stairs — perfect for added convenience. The additional bedroom is ideal for guests, a home office, or flex space. Some amenities: Community center, Swimming pool, Tennis court, Basketball court, Tot-lots/playground, Scenic hiking & biking trail. Some photos virtually staged. Prime location just off Route 198 and the BW Parkway (295), offering quick access to DC, Baltimore, Fort Meade, and NSA. Conveniently located near shopping, restaurants, and everyday essentials.

16. 2026-03-13
    listed $290,000 Active 770-char remark

    Show marketing remark (770 chars)

    This well-maintained first floor condo offers the perfect combination of comfort, convenience, and lifestyle. Featuring 2 spacious bedrooms and 1.5 bathrooms, this home provides an open and functional layout ideal for everyday living. The ground-floor location offers easy access with no stairs — perfect for added convenience. The additional bedroom is ideal for guests, a home office, or flex space. Some amenities: Community center, Swimming pool, Tennis court, Basketball court, Tot-lots/playground, Scenic hiking & biking trail. Some photos virtually staged. Prime location just off Route 198 and the BW Parkway (295), offering quick access to DC, Baltimore, Fort Meade, and NSA. Conveniently located near shopping, restaurants, and everyday essentials.

17. 2026-02-23
    historical $290,000 770-char remark

    Show marketing remark (770 chars)

    This well-maintained first floor condo offers the perfect combination of comfort, convenience, and lifestyle. Featuring 2 spacious bedrooms and 1.5 bathrooms, this home provides an open and functional layout ideal for everyday living. The ground-floor location offers easy access with no stairs — perfect for added convenience. The additional bedroom is ideal for guests, a home office, or flex space. Some amenities: Community center, Swimming pool, Tennis court, Basketball court, Tot-lots/playground, Scenic hiking & biking trail. Some photos virtually staged. Prime location just off Route 198 and the BW Parkway (295), offering quick access to DC, Baltimore, Fort Meade, and NSA. Conveniently located near shopping, restaurants, and everyday essentials.

18. 2021-07-21
    soldstatus $245,000
19. 2021-07-01
    soldstatus $245,000 Closed 1056-char remark

    Show marketing remark (1056 chars)

    Welcome home to this beautifully kept 2 BR, 1 ½ BA condominium conveniently located in the sought after community of Tanglewood at Russett Condominiums! This ground floor unit features an open concept living room with a cozy fireplace, a separate dining room, an updated kitchen with a beautiful backsplash that is also featured around the breakfast bar, granite countertops, and stainless steel appliances. The owner’s suite features a private bathroom, walk-in closet, and a washer/dryer. This unit also includes a pre-wired motion sensor security system (must be activated through ADT), a retractable privacy shade for the sliding glass doors that opens onto the patio, and a front door with multiple security locks. The amenities in the community include a community center, pools, tennis courts, hiking/biking trails, tot-lot, basket ball, and much more! Accessible to shopping, dining, and entertainment. Convenient to Baltimore, DC, Ft. Meade, NSA, and major highways. Don’t wait, this is a must see! The proud owner could be you!

20. 2021-06-02
    price $245,000 1056-char remark

    Show marketing remark (1056 chars)

    Welcome home to this beautifully kept 2 BR, 1 ½ BA condominium conveniently located in the sought after community of Tanglewood at Russett Condominiums! This ground floor unit features an open concept living room with a cozy fireplace, a separate dining room, an updated kitchen with a beautiful backsplash that is also featured around the breakfast bar, granite countertops, and stainless steel appliances. The owner’s suite features a private bathroom, walk-in closet, and a washer/dryer. This unit also includes a pre-wired motion sensor security system (must be activated through ADT), a retractable privacy shade for the sliding glass doors that opens onto the patio, and a front door with multiple security locks. The amenities in the community include a community center, pools, tennis courts, hiking/biking trails, tot-lot, basket ball, and much more! Accessible to shopping, dining, and entertainment. Convenient to Baltimore, DC, Ft. Meade, NSA, and major highways. Don’t wait, this is a must see! The proud owner could be you!

21. 2021-06-02
    historical Active Under Contract 1056-char remark

    Show marketing remark (1056 chars)

    Welcome home to this beautifully kept 2 BR, 1 ½ BA condominium conveniently located in the sought after community of Tanglewood at Russett Condominiums! This ground floor unit features an open concept living room with a cozy fireplace, a separate dining room, an updated kitchen with a beautiful backsplash that is also featured around the breakfast bar, granite countertops, and stainless steel appliances. The owner’s suite features a private bathroom, walk-in closet, and a washer/dryer. This unit also includes a pre-wired motion sensor security system (must be activated through ADT), a retractable privacy shade for the sliding glass doors that opens onto the patio, and a front door with multiple security locks. The amenities in the community include a community center, pools, tennis courts, hiking/biking trails, tot-lot, basket ball, and much more! Accessible to shopping, dining, and entertainment. Convenient to Baltimore, DC, Ft. Meade, NSA, and major highways. Don’t wait, this is a must see! The proud owner could be you!

22. 2021-05-24
    listed $239,900 Active 1056-char remark

    Show marketing remark (1056 chars)

    Welcome home to this beautifully kept 2 BR, 1 ½ BA condominium conveniently located in the sought after community of Tanglewood at Russett Condominiums! This ground floor unit features an open concept living room with a cozy fireplace, a separate dining room, an updated kitchen with a beautiful backsplash that is also featured around the breakfast bar, granite countertops, and stainless steel appliances. The owner’s suite features a private bathroom, walk-in closet, and a washer/dryer. This unit also includes a pre-wired motion sensor security system (must be activated through ADT), a retractable privacy shade for the sliding glass doors that opens onto the patio, and a front door with multiple security locks. The amenities in the community include a community center, pools, tennis courts, hiking/biking trails, tot-lot, basket ball, and much more! Accessible to shopping, dining, and entertainment. Convenient to Baltimore, DC, Ft. Meade, NSA, and major highways. Don’t wait, this is a must see! The proud owner could be you!

23. 2005-10-11
    soldstatus $228,000
24. 2005-09-27
    soldstatus $228,000
25. 2005-07-31
    historical
26. 2005-07-25
    listed $224,900
27. 1994-04-04
    soldstatus $93,540

ⓘ 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: $2,535 · $211/mo
• Projected year-2 tax: $2,766 · $231/mo
• Expected delta: +$231/yr (+$19/mo · 9.1%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 17% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,884
• − Mortgage interest: −$15,404
• − Property taxes: −$2,535
• − Insurance: −$1,375
• − Repairs & maintenance: −$2,231
• − Management: −$2,231
• − HOA: −$4,572
• − Depreciation: −$8,000
• Taxable loss: −$8,464
• Est. tax savings @ 24.0%: +$2,031
• After-tax cash flow: $-1,728/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: Anne Arundel County Public Schools
• NCES district ID: 2400060
• Math proficiency: 20% ▼ -21.00%
• Reading proficiency: 37% ▼ -13.00%
• Median HH income: $87,880
• Composite: 28.52/100
• National rank: #6733
• State rank: #10 of 24 in MD

Livability — Maryland City

• Score: 75/100
• State rank: #108
• US rank: #4306

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Maryland City, MD
• County: Anne Arundel County · 535,653 people
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 19,369
• Household income: $118,115
• Rent vs Own: 39.0% rent · 61.0% own
• Severe rent burden: 614.0

Population outlook (Anne Arundel County) Hauer SSP2

• Today (2025): 617,384 people
• By 2030: 642,094 · +4.0%
• By 2040: 686,621 · +11.2%
• By 2050: 723,031 · +17.1%
• By 2075: 809,346 · +31.1%
• By 2100: 837,658 · +35.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Black 43% Hispanic / Latino 24% White 24% Native American 8% Asian 7% Two or more races 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3%
• Common ancestry: Romanian 2% Italian 1% Lithuanian 1%
• Foreign-born: 24% · Canada, Jamaica, Philippines
• Languages at home: 69% English-only · Spanish 20% Other Indo-European 2% Chinese 1%

Political lean MEDSL · Anne Arundel

• 2024 margin: D (+13.9) · D 55.7% · R 41.7% · Other 2.6%
• 2008→2024 swing: +15.7pp toward D · 2008: -1.8pp · 2024: 13.9pp
• All cycles: 2024: D+13.9 2020: D+14.5 2016: D+0.7 2012: R+0.9 2008: R+1.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -3.04%
• Current HPI: 269.7445
• Rent YoY: ▲ 5.84%
• Metro: Baltimore-Columbia-Towson, MD
• 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

+199.3% since first listed

13 events — show timeline

• 2026-05-16 Price Changed $280,000 BRIGHT MLS
• 2026-03-13 Listed $290,000 BRIGHT MLS
• 2026-02-23 Coming Soon $290,000 BRIGHT MLS
• 2021-07-21 Sold (Public Records) $245,000 Public Records
• 2021-07-01 Sold (MLS) $245,000 BRIGHT MLS
• 2021-06-02 Price Changed $245,000 BRIGHT MLS
• 2021-06-02 Contingent — BRIGHT MLS
• 2021-05-24 Listed $239,900 BRIGHT MLS
• 2005-10-11 Sold (Public Records) $228,000 Public Records
• 2005-09-27 Sold (MLS) $228,000 MRIS
• 2005-07-31 Delisted — MRIS
• 2005-07-25 Listed $224,900 MRIS
• 1994-04-04 Sold (Public Records) $93,540 Public Records

Property tax history

+3.5%/yr

Latest (2025): $2,535 · +4.6% YoY. Source: county tax records.