22024 Gloucester Ct Unit B-5 · Lexington Park, MD 20653

$150,000

2 bd · 1.0 ba · 893 sqft · Condo · 44 Days on market

Built 1984 $225/mo HOA · 13% of rent

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Why this score? — see what drove the C- 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 +17.0/30.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• DSCR +5.3/10.0
• Appreciation +3.2/10.0
• Livability +3.1/5.0
• Schools +3.0/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0

Listing remarks

Whether you are looking for a turnkey residence or a great rental investment, this 2-bedroom, 1-bathroom condo at 22024 Gloucester Ct #B5 is a great opportunity. Situated directly outside the gates of Patuxent River Naval Air Station, this location ensures a consistent demand for housing. The interior has been completely refreshed for its new owner, featuring brand-new carpeting, fresh paint, and durable luxury plank flooring (LPV) in the kitchen, bathroom and laundry room. The functional floor plan includes a dedicated laundry room for maximum convenience. Relax on your private deck, which offers a view backed to the woods—a rare find for condo living. Water and sewer included in th

Key facts

• Fresh paint
• Brand-new carpeting
• Turnkey residence

Tags

• TURNKEY RESIDENCE
• COMPLETELY REFRESHED INTERIOR
• BRAND-NEW CARPETING
• FRESH PAINT
• DURABLE LUXURY PLANK FLOORING
• DEDICATED LAUNDRY ROOM

Property features AI

Finance

• Other: Ownership interest: Condominium; Finished above-grade area reported (source: assessor)
• HOA & community: Condo fee $225 monthly; HOA fee includes trash, water, and sewer; Pets allowed with number limits

Exterior

• Parking: Parking lot with 1 parking space (total garage and parking spaces: 1)
• Utilities: Public water; Public sewer; Electric heating and cooling
• Home design: Garden-style building (1–4 floors); Condominium unit / flat; Entry on level 2
• Construction: Brick construction
• Exterior features: Above-grade and below-grade structures noted; Tidal water: none

Interior

• Kitchen: Kitchen (appliances not specified)
• Bedrooms: 2 bedrooms on main level
• Bathrooms: 1 full bathroom on main level
• Heating & cooling: Heat pump(s); Electric hot water
• Interior features: Living room; Dining room; Laundry area; No basement
• Laundry & utility: Washer/dryer hookup in unit

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $102 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $146k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 4.0% in Lexington Park — 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 61/100 on livability (#331 in MD) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A; Watch: crime F, amenities F, commute F.
• St. Mary'S County Public Schools (rural): math 23% / reading 38% proficiency, ranked #8 of 24 in MD (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Great Mills High (math 42% / reading 55%, grade D, #111 of 222 statewide, top 50%, 1,779 students, 55% FRL) — zoned schools average 55% FRL vs 28% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 48% at this address vs 30% district-wide (+18 pts) — the actual schools serving this property are materially stronger than the St. Mary'S County Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents flat; 94 active listings in the ZIP; solid renter incomes; 265 units permitted in St. Mary's County in 2024 (0 in 5+ unit buildings).

Forward outlook

• 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.
• St. Mary's County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 67% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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. 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.
8. 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.
9. 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: 1.15% ✓
• Cap rate: 7.11%
• Cash-on-cash: 2.92%
• DSCR: 1.13
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.49% rent growth · sell at horizon

5-year hold

• IRR: -15.0%
• Equity multiple: 0.48×
• Total profit: $-21,887
• Equity at exit: $22,365

10-year hold

• IRR: -12.4%
• Equity multiple: 0.37×
• Total profit: $-26,608
• Equity at exit: $12,969

Cash invested: $42,000 (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 20653

• Home prices YoY: -1.4%
• Rents YoY: 0.5%
• Active inventory: 94
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,726 medium
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$225
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $102

Break-even live

Break-even rent $1,597

Max offer price $150,000

Occupancy floor 89%

Sensitivity live

Price	-10% $206	-5% $154	+0% $102	+5% $50	+10% $-1
Rent	-10% $-34	-5% $34	+0% $102	+5% $170	+10% $239
Rate	-1.0pp $178	-0.5pp $140	base $102	+0.5pp $63	+1.0pp $24

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $225 · $2,700/yr
• Likely covers: watersewer
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-21
   days on market $150,000 Active 44 DOM
2. 2026-06-19
   days on market $150,000 Active 42 DOM
3. 2026-06-18
   days on market $150,000 Active 41 DOM
4. 2026-06-17
   days on market $150,000 Active 40 DOM
5. 2026-06-16
   days on market $150,000 Active 39 DOM
6. 2026-06-15
   days on market $150,000 Active 38 DOM
7. 2026-06-14
   days on market $150,000 Active 36 DOM
8. 2026-06-12
   days on market $150,000 Active 35 DOM
9. 2026-06-09
   days on market $150,000 Active 32 DOM
10. 2026-06-08
    days on market $150,000 Active 31 DOM
11. 2026-06-07
    days on market $150,000 Active 30 DOM
12. 2026-06-05
    days on market $150,000 Active 27 DOM
13. 2026-06-02
    days on market $150,000 Active 25 DOM
14. 2026-06-01
    days on market $150,000 Active 24 DOM
15. 2026-05-31
    days on market $150,000 Active 23 DOM
16. 2026-05-30
    remarks 693-char remark
17. 2026-05-30
    listed $150,000 Active 22 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥100°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 67% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,716
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$1,657
• − Management: −$1,657
• − HOA: −$2,700
• − Depreciation: −$4,364
• Taxable loss: −$1,064
• Est. tax savings @ 24.0%: +$255
• After-tax cash flow: $1,482/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: St. Mary'S County Public Schools
• NCES district ID: 2400600
• Math proficiency: 23% ▼ -23.00%
• Reading proficiency: 38% ▼ -12.00%
• Median HH income: $83,240
• Composite: 29.74/100
• National rank: #6444
• State rank: #8 of 24 in MD

Livability — Lexington Park

• Score: 61/100
• State rank: #331
• US rank: #17418

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lexington Park, MD
• County: Saint Marys County · 48,152 people
• City population: 26,852
• Metro: California-Lexington Park, MD
• Population (ZIP): 26,852
• Household income: $103,048
• Rent vs Own: 42.6% rent · 57.4% own
• Severe rent burden: 1571.0

Population outlook (St. Mary's County) Hauer SSP2

• Today (2025): 123,125 people
• By 2030: 128,374 · +4.3%
• By 2040: 137,305 · +11.5%
• By 2050: 143,065 · +16.2%
• By 2075: 153,408 · +24.6%
• By 2100: 151,790 · +23.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 54% Black 28% Two or more races 11% Hispanic / Latino 6% Asian 4%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Romanian 2% Slovak 2% Italian 1%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 92% English-only · Spanish 3% Tagalog/Filipino 3% Other Asian/Pacific 1%

Political lean MEDSL · St. Mary's

• 2024 margin: R (+17.2) · D 40.2% · R 57.4% · Other 2.4%
• 2008→2024 swing: -4.4pp toward R · 2008: -12.8pp · 2024: -17.2pp
• All cycles: 2024: R+17.2 2020: R+13.8 2016: R+24.6 2012: R+16.1 2008: R+12.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -3.67%
• Current HPI: 256.5435
• Rent YoY: ▲ 0.49%
• Metro: California-Lexington Park, 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

+100.0% since first listed

5 events — show timeline

• 2026-05-09 Listed $150,000 BRIGHT MLS
• 2016-03-23 Delisted — MRIS
• 2016-03-22 Listing Removed — BRIGHT MLS
• 2015-10-13 Listed — MRIS
• 2015-10-13 Listed $75,000 BRIGHT MLS