103 Conestoga Rd · Middle River, MD 21220

$27,000

1 bd · 2.0 ba · 1,200 sqft · Manufactured · 289 Days on market

Built 1969 ↓ 44% 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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.9/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming and spacious 1 bdrm with a walkthru room that can be used as a second sleeping area, office, nursery etc. 2bath home that has been beautifully updated and is truly move in ready. Step into the stunning kitchen featuring bright white cabinets, new countertops, and modern flooring. Both bathrooms have been tastefully updated and ceiling fans throughout add comfort and style. With the bonus of 3 car parking, this home offers the perfect blend of charm, convenience and comfort in a desirable community where residents enjoy access to: A community center with on-site maintenance, Fitness center, Two playgrounds, A dog park, Monthly resident activities, A secured storage lot and more. Conveniently situated near Route 43, I-95, and I-695, offering easy access to shopping, dining, and major commuter routes. Please Note: Park approval is required for all buyers. Don’t miss this opportunity to live in a beautiful home within a thriving, well-maintained community.

Key facts

• Modern flooring
• Ceiling fans
• Stunning kitchen

Tags

• STUNNING KITCHEN
• BRIGHT WHITE CABINETS
• NEW COUNTERTOPS
• MODERN FLOORING
• TASTEFULLY UPDATED BATHROOMS
• CEILING FANS

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath manufactured listed at $27k.

Deal economics

• At list price, monthly cash flow is $975 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $27k).
• Recommended offer: $24k (12.0% below list) — sets the bar for market timing.
• Cap rate 49.6% vs local median 4.2% in Middle River — 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 78/100 on livability (#76 in MD, #2,777 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: schools F, crime F.
• Baltimore County Public Schools (suburban): math 15% / reading 34% proficiency, ranked #11 of 24 in MD (top 46%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents flat; 251 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,511 units permitted in Baltimore County in 2024 (643 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $187 of loan paydown is wiped out by about $810 of value loss. Plan a longer hold.
• Baltimore County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 0.8% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 289 days — a 12% lower offer ($24k) is reasonable based on typical stale-listing flexibility.

Recommended offer $23,760 (12.0% below list)

Questions for the listing agent

1. It's been on market 289 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F 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?
7. 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?
8. 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.
9. 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.
10. 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: 5.45% ✓
• Cap rate: 49.63%
• Cash-on-cash: 154.76%
• DSCR: 7.89
• GRM: 1.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.83% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.22×
• Total profit: $54,603
• Equity at exit: $4,026

10-year hold

• IRR: —
• Equity multiple: 16.25×
• Total profit: $115,254
• Equity at exit: $2,334

Cash invested: $7,560 (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 21220

• Rents YoY: 0.8%
• Active inventory: 251
• Price-to-rent: 1.5×

Monthly cashflow live

• Estimated rent: $1,470 high
• Mortgage (P&I): −$142
• Tax est. 1.5%: −$34 /mo · $405/yr
• Insurance: −$11
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $975

Break-even live

Break-even rent $236

Max offer price $27,000

Occupancy floor 29%

Sensitivity live

Price	-10% $994	-5% $984	+0% $975	+5% $966	+10% $956
Rent	-10% $859	-5% $917	+0% $975	+5% $1,033	+10% $1,091
Rate	-1.0pp $989	-0.5pp $982	base $975	+0.5pp $968	+1.0pp $961

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: $6,750
• Closing costs: $810
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3736 White Pine Rd Middle River, MD	1.0–2.0	1.0	741	$1,040	$1.40	0d	17	0.86mi
11550 Crossroads Cir Middle River, MD	1.0–2.0	1.0–2.0	864	$1,774	$2.05	0d	11	1.11mi
37 Alberge Ln Middle River, MD	2.0–3.0	1.0–2.0	928	$1,215	$1.31	0d	8	1.19mi
3924 Cutty Sark Rd Middle River, MD	2.0	1.5	1180	$1,699	$1.44	25d	1	1.26mi
6221 Greenleigh Ave Middle River, MD	1.0–2.0	1.0–2.0	1059	$1,947	$1.84	3d	16	1.35mi
1 Alder Dr Middle River, MD	1.0–3.0	1.0	1000	$1,419	$1.42	0d	9	1.48mi

Listing history 23 events

1. 2026-06-21
   days on market $27,000 Active 289 DOM
2. 2026-06-18
   days on market $27,000 Active 286 DOM
3. 2026-06-17
   days on market $27,000 Active 285 DOM
4. 2026-06-16
   days on market $27,000 Active 284 DOM
5. 2026-06-15
   days on market $27,000 Active 283 DOM
6. 2026-06-13
   days on market $27,000 Active 281 DOM
7. 2026-06-09
   days on market $27,000 Active 277 DOM
8. 2026-06-08
   days on market $27,000 Active 276 DOM
9. 2026-06-07
   pricedays on market $27,000 Active 275 DOM
10. 2026-06-04
    days on market $28,000 Active 272 DOM
11. 2026-06-03
    days on market $28,000 Active 271 DOM
12. 2026-06-02
    days on market $28,000 Active 270 DOM
13. 2026-06-01
    days on market $28,000 Active 269 DOM
14. 2026-05-31
    days on market $28,000 Active 268 DOM
15. 2026-05-20
    price $28,000 997-char remark

    Show marketing remark (997 chars)

    Welcome to this charming and spacious 1 bdrm with a walkthru room that can be used as a second sleeping area, office, nursery etc. 2bath home that has been beautifully updated and is truly move in ready. Step into the stunning kitchen featuring bright white cabinets, new countertops, and modern flooring. Both bathrooms have been tastefully updated and ceiling fans throughout add comfort and style. With the bonus of 3 car parking, this home offers the perfect blend of charm, convenience and comfort in a desirable community where residents enjoy access to: A community center with on-site maintenance, Fitness center, Two playgrounds, A dog park, Monthly resident activities, A secured storage lot and more. Conveniently situated near Route 43, I-95, and I-695, offering easy access to shopping, dining, and major commuter routes. Please Note: Park approval is required for all buyers. Don’t miss this opportunity to live in a beautiful home within a thriving, well-maintained community.

16. 2026-04-29
    price $29,000 997-char remark

    Show marketing remark (997 chars)

    Welcome to this charming and spacious 1 bdrm with a walkthru room that can be used as a second sleeping area, office, nursery etc. 2bath home that has been beautifully updated and is truly move in ready. Step into the stunning kitchen featuring bright white cabinets, new countertops, and modern flooring. Both bathrooms have been tastefully updated and ceiling fans throughout add comfort and style. With the bonus of 3 car parking, this home offers the perfect blend of charm, convenience and comfort in a desirable community where residents enjoy access to: A community center with on-site maintenance, Fitness center, Two playgrounds, A dog park, Monthly resident activities, A secured storage lot and more. Conveniently situated near Route 43, I-95, and I-695, offering easy access to shopping, dining, and major commuter routes. Please Note: Park approval is required for all buyers. Don’t miss this opportunity to live in a beautiful home within a thriving, well-maintained community.

17. 2026-02-27
    price $29,999 997-char remark

    Show marketing remark (997 chars)

    Welcome to this charming and spacious 1 bdrm with a walkthru room that can be used as a second sleeping area, office, nursery etc. 2bath home that has been beautifully updated and is truly move in ready. Step into the stunning kitchen featuring bright white cabinets, new countertops, and modern flooring. Both bathrooms have been tastefully updated and ceiling fans throughout add comfort and style. With the bonus of 3 car parking, this home offers the perfect blend of charm, convenience and comfort in a desirable community where residents enjoy access to: A community center with on-site maintenance, Fitness center, Two playgrounds, A dog park, Monthly resident activities, A secured storage lot and more. Conveniently situated near Route 43, I-95, and I-695, offering easy access to shopping, dining, and major commuter routes. Please Note: Park approval is required for all buyers. Don’t miss this opportunity to live in a beautiful home within a thriving, well-maintained community.

18. 2026-02-23
    price $34,900 997-char remark

    Show marketing remark (997 chars)

    Welcome to this charming and spacious 1 bdrm with a walkthru room that can be used as a second sleeping area, office, nursery etc. 2bath home that has been beautifully updated and is truly move in ready. Step into the stunning kitchen featuring bright white cabinets, new countertops, and modern flooring. Both bathrooms have been tastefully updated and ceiling fans throughout add comfort and style. With the bonus of 3 car parking, this home offers the perfect blend of charm, convenience and comfort in a desirable community where residents enjoy access to: A community center with on-site maintenance, Fitness center, Two playgrounds, A dog park, Monthly resident activities, A secured storage lot and more. Conveniently situated near Route 43, I-95, and I-695, offering easy access to shopping, dining, and major commuter routes. Please Note: Park approval is required for all buyers. Don’t miss this opportunity to live in a beautiful home within a thriving, well-maintained community.

19. 2025-11-25
    price $35,000 997-char remark

    Show marketing remark (997 chars)

    Welcome to this charming and spacious 1 bdrm with a walkthru room that can be used as a second sleeping area, office, nursery etc. 2bath home that has been beautifully updated and is truly move in ready. Step into the stunning kitchen featuring bright white cabinets, new countertops, and modern flooring. Both bathrooms have been tastefully updated and ceiling fans throughout add comfort and style. With the bonus of 3 car parking, this home offers the perfect blend of charm, convenience and comfort in a desirable community where residents enjoy access to: A community center with on-site maintenance, Fitness center, Two playgrounds, A dog park, Monthly resident activities, A secured storage lot and more. Conveniently situated near Route 43, I-95, and I-695, offering easy access to shopping, dining, and major commuter routes. Please Note: Park approval is required for all buyers. Don’t miss this opportunity to live in a beautiful home within a thriving, well-maintained community.

20. 2025-11-18
    price $37,000 997-char remark

    Show marketing remark (997 chars)

    Welcome to this charming and spacious 1 bdrm with a walkthru room that can be used as a second sleeping area, office, nursery etc. 2bath home that has been beautifully updated and is truly move in ready. Step into the stunning kitchen featuring bright white cabinets, new countertops, and modern flooring. Both bathrooms have been tastefully updated and ceiling fans throughout add comfort and style. With the bonus of 3 car parking, this home offers the perfect blend of charm, convenience and comfort in a desirable community where residents enjoy access to: A community center with on-site maintenance, Fitness center, Two playgrounds, A dog park, Monthly resident activities, A secured storage lot and more. Conveniently situated near Route 43, I-95, and I-695, offering easy access to shopping, dining, and major commuter routes. Please Note: Park approval is required for all buyers. Don’t miss this opportunity to live in a beautiful home within a thriving, well-maintained community.

21. 2025-10-21
    price $39,999 997-char remark

    Show marketing remark (997 chars)

    Welcome to this charming and spacious 1 bdrm with a walkthru room that can be used as a second sleeping area, office, nursery etc. 2bath home that has been beautifully updated and is truly move in ready. Step into the stunning kitchen featuring bright white cabinets, new countertops, and modern flooring. Both bathrooms have been tastefully updated and ceiling fans throughout add comfort and style. With the bonus of 3 car parking, this home offers the perfect blend of charm, convenience and comfort in a desirable community where residents enjoy access to: A community center with on-site maintenance, Fitness center, Two playgrounds, A dog park, Monthly resident activities, A secured storage lot and more. Conveniently situated near Route 43, I-95, and I-695, offering easy access to shopping, dining, and major commuter routes. Please Note: Park approval is required for all buyers. Don’t miss this opportunity to live in a beautiful home within a thriving, well-maintained community.

22. 2025-09-24
    price $44,999 997-char remark

    Show marketing remark (997 chars)

    Welcome to this charming and spacious 1 bdrm with a walkthru room that can be used as a second sleeping area, office, nursery etc. 2bath home that has been beautifully updated and is truly move in ready. Step into the stunning kitchen featuring bright white cabinets, new countertops, and modern flooring. Both bathrooms have been tastefully updated and ceiling fans throughout add comfort and style. With the bonus of 3 car parking, this home offers the perfect blend of charm, convenience and comfort in a desirable community where residents enjoy access to: A community center with on-site maintenance, Fitness center, Two playgrounds, A dog park, Monthly resident activities, A secured storage lot and more. Conveniently situated near Route 43, I-95, and I-695, offering easy access to shopping, dining, and major commuter routes. Please Note: Park approval is required for all buyers. Don’t miss this opportunity to live in a beautiful home within a thriving, well-maintained community.

23. 2025-09-05
    listed $49,999 Active 997-char remark

    Show marketing remark (997 chars)

    Welcome to this charming and spacious 1 bdrm with a walkthru room that can be used as a second sleeping area, office, nursery etc. 2bath home that has been beautifully updated and is truly move in ready. Step into the stunning kitchen featuring bright white cabinets, new countertops, and modern flooring. Both bathrooms have been tastefully updated and ceiling fans throughout add comfort and style. With the bonus of 3 car parking, this home offers the perfect blend of charm, convenience and comfort in a desirable community where residents enjoy access to: A community center with on-site maintenance, Fitness center, Two playgrounds, A dog park, Monthly resident activities, A secured storage lot and more. Conveniently situated near Route 43, I-95, and I-695, offering easy access to shopping, dining, and major commuter routes. Please Note: Park approval is required for all buyers. Don’t miss this opportunity to live in a beautiful home within a thriving, well-maintained community.

ⓘ 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: $17,645
• − Mortgage interest: −$1,512
• − Property taxes: −$405
• − Insurance: −$135
• − Repairs & maintenance: −$1,412
• − Management: −$1,412
• − Depreciation: −$785
• Taxable income: $11,984
• Est. tax owed @ 24.0%: −$2,876
• After-tax cash flow: $8,824/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: Baltimore County Public Schools
• NCES district ID: 2400120
• Math proficiency: 15% ▼ -16.00%
• Reading proficiency: 34% ▼ -5.00%
• Median HH income: $66,746
• Composite: 23.17/100
• National rank: #7948
• State rank: #11 of 24 in MD

Livability — Middle River

• Score: 78/100
• State rank: #76
• US rank: #2777

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Middle River, MD
• County: Baltimore County · 769,527 people
• City population: 42,824
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 42,824
• Household income: $81,817
• Rent vs Own: 31.2% rent · 68.8% own
• Severe rent burden: 1921.0

Population outlook (Baltimore County) Hauer SSP2

• Today (2025): 885,518 people
• By 2030: 909,272 · +2.7%
• By 2040: 951,547 · +7.5%
• By 2050: 990,955 · +11.9%
• By 2075: 1,086,411 · +22.7%
• By 2100: 1,135,078 · +28.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 57% Black 27% Two or more races 6% Hispanic / Latino 6% Asian 5%
• Hispanic origin (detail): Puerto Rican 1%
• Common ancestry: Romanian 4% Ukrainian 2% Lithuanian 1%
• Foreign-born: 12% · Canada, Vietnam
• Languages at home: 86% English-only · Spanish 3% Arabic 3% Tagalog/Filipino 2%

Political lean MEDSL · Baltimore

• 2024 margin: Strong D (+24.5) · D 61.0% · R 36.5% · Other 2.5%
• 2008→2024 swing: +9.9pp toward D · 2008: 14.6pp · 2024: 24.5pp
• All cycles: 2024: D+24.5 2020: D+27.0 2016: D+17.4 2012: D+16.4 2008: D+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -199.31%
• Current HPI: 254.5597
• Rent YoY: ▲ 0.83%
• 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

-44.0% since first listed

9 events — show timeline

• 2026-05-20 Price Changed $28,000 BRIGHT MLS
• 2026-04-29 Price Changed $29,000 BRIGHT MLS
• 2026-02-27 Price Changed $29,999 BRIGHT MLS
• 2026-02-23 Price Changed $34,900 BRIGHT MLS
• 2025-11-25 Price Changed $35,000 BRIGHT MLS
• 2025-11-18 Price Changed $37,000 BRIGHT MLS
• 2025-10-21 Price Changed $39,999 BRIGHT MLS
• 2025-09-24 Price Changed $44,999 BRIGHT MLS
• 2025-09-05 Listed $49,999 BRIGHT MLS