6534 Deep Run Pkwy

Ilchester, MD 21075

$150,000B

3 bd · 2.0 ba · 1,790 sqft · Built 2007 · SingleFamily · Active · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,087/mo
• Mortgage (P&I): −$787
• Tax + insurance: −$250
• HOA: −$0
• Vac / Maint / Mgmt: −$648
• Net cashflow: $1,402/mo
• Annual: $16,825/yr
• Cap rate: 17.51%
• Cash-on-cash: 40.06%
• DSCR: 2.78
• 1% rule: 2.06%
• Cash to close: $42,000

Investor read

• This is a 3-bed/2.0-bath single-family listed at $150k. Condition is rated good.
• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#269 in MD) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: schools D+, amenities F, commute F.
• Howard County Public Schools (suburban): math 34% / reading 49% proficiency, ranked #1 of 24 in MD (top 4%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: Rents flat; 125 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 881 units permitted in Howard County in 2024 (285 in 5+ unit buildings).
• Howard County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.8% rent growth), your $42k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 17.5% vs local median 2.7% in Ilchester — 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

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.