518 Ingleside Ave

Catonsville, MD 21228

$144,900B-

3 bd · 1.0 ba · 1,096 sqft · Built 1820 · SingleFamily · Active · 167 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,048/mo
• Mortgage (P&I): −$760
• Tax + insurance: −$326
• HOA: −$0
• Vac / Maint / Mgmt: −$430
• Net cashflow: $533/mo
• Annual: $6,391/yr
• Cap rate: 11.74%
• Cash-on-cash: 19.46%
• DSCR: 1.87
• 1% rule: 1.41%
• Cash to close: $40,572

Investor read

• This is a 3-bed/1.0-bath single-family listed at $145k.
• At list price, monthly cash flow is $533 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• It's been on market 167 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $128k (12.0% below list) — sets the bar for market timing.
• 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 81/100 on livability (#43 in MD, #1,586 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: crime D, cost of living D.
• 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.
• Watch-outs: flood insurance adds $125/mo; built in 1820 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+1.9%/yr); 144 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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.
• 5 sale attempts; this cycle's ask has dropped $20k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; list at $145k implies a 222% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 1.9% rent growth), your $41k cash investment doubles in ~9 years — after that, you're playing with house money.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 11.7% vs local median 3.4% in Catonsville — 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

• It's been on market 167 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1820 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.
• Crime grade is D 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?
• 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.