208 Center St

Dundalk, MD 21222

$210,000D+

3 bd · 2.0 ba · 1,171 sqft · Built 1941 · SingleFamily · Active · 79 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,818/mo
• Mortgage (P&I): −$1,101
• Tax + insurance: −$277
• HOA: −$0
• Vac / Maint / Mgmt: −$382
• Net cashflow: $58/mo
• Annual: $693/yr
• Cap rate: 6.62%
• Cash-on-cash: 1.18%
• DSCR: 1.05
• 1% rule: 0.87%
• Cash to close: $58,800

Investor read

• This is a 3-bed/2.0-bath single-family listed at $210k.
• At list price, monthly cash flow is $58 ($693/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $182k (13.4% below list).
• It's been on market 79 days — a 6% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $182k (13.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 85/100 on livability (#16 in MD, #510 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: 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.
• Zoned schools: Dundalk Elementary (math 6% / reading 8%, grade F, #726 of 860 statewide, top 86%, 743 students, 74% FRL); Dundalk Middle (math 2% / reading 13%, grade F, #217 of 225 statewide, top 97%, 860 students, 64% FRL); Dundalk High (math 5% / reading 33%, grade F, #177 of 222 statewide, top 80%, 2,193 students, 62% FRL) — zoned schools average 66% FRL vs 39% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 11% at this address vs 24% district-wide (-13 pts) — the specific schools serving this property underperform the Baltimore County Public Schools average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents soft (-0.1%/yr); 238 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 1,511 units permitted in Baltimore County in 2024 (643 in 5+ unit buildings).
• Baltimore County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 7 sale attempts since 5y ago; this cycle's ask has dropped $30k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: major flood risk; major wind risk, 58% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 34% of the median local income ($64k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 79 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
• Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• Schools are A-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?
• 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?
• 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?
• 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.