2201 Greenery Ln Unit 104-11 · Glenmont, MD 20906

$164,900

1 bd · 1.0 ba · 750 sqft · Condo · 34 Days on market

Built 1971 Good condition $220/sqft · 16% below area Est $196k · 16% under $504/mo HOA · 28% of rent ↓ 6% 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).

• ARV discount +14.6/15.0
• Cash flow +7.0/30.0
• 1% rule +5.8/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Schools +3.6/10.0
• Rent growth +2.6/5.0
• DSCR +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks

This wonderful condominium is move-in ready and shows beautifully. Welcome to Unit #104! This charming one-bedroom, one-bathroom condo features an updated kitchen with quartz countertops and stainless steel appliances. Enjoy the open layout, including a spacious living room and a separate dining area—perfect for entertaining. Located in the desirable Glenway Gardens community, this home is conveniently located near restaurants, shops and major commuter routes, with easy access to the Glenmont Metro Station. All utilities are included in the condo fee. Come check out this move-in ready unit in Montgomery County!

Key facts

• Quartz countertops
• Open layout
• Updated kitchen

Tags

• UPDATED KITCHEN
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• OPEN LAYOUT
• SEPARATE DINING AREA
• GLENWAY GARDENS COMMUNITY

Property features AI

Finance

• Other: Ownership interest: Condominium; Front foot fee paid annually
• HOA & community: Monthly condo fee of $504.50; HOA covers electricity, water, air conditioning, common area maintenance, exterior building maintenance, gas, lawn maintenance, snow removal, and trash; Community amenities include outdoor pool, common grounds, and dog park

Exterior

• Parking: Parking lot with one parking space (total garage/parking spaces: 1)
• Utilities: Public water; Public sewer; Electric cooling; Natural gas for heating and hot water
• Home design: Condominium unit in a garden-style building (1–4 floors); Unit/Flat; Entry level: 1; Very good condition; Brick construction
• Construction: Brick construction; Above-grade and below-grade structures
• Exterior features: Community outdoor pool; Common grounds; Dog park; Outside city limits

Interior

• Bedrooms: One bedroom on the main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Central heating; Central air conditioning; Natural gas heating and hot water
• Interior features: No basement; Living area source: Assessor
• Laundry & utility: No in-unit washer/dryer or hookups

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $165k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-240 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $130k (21.1% below list).
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $130k (21.1% below list) — sets the bar for cash-flow.
• Cap rate 4.5% vs local median 3.1% in Glenmont — 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 80/100 on livability (#47 in MD, #1,776 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: amenities F, cost of living F.
• Montgomery County Public Schools (suburban): math 27% / reading 45% proficiency, ranked #3 of 24 in MD (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents flat; 240 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 3,880 units permitted in Montgomery County in 2024 (2,054 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 $5k of value loss. Plan a longer hold.
• Montgomery County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.
• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $130,175 (21.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-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?
8. 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?
9. 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.
10. 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.
11. 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: 1.08% ✓
• Cap rate: 4.55%
• Cash-on-cash: -6.24%
• DSCR: 0.72
• GRM: 7.7

CMA / ARV

• ARV (median comp): $195,823
• List price: $164,900
• Delta: -15.79%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.24% rent growth · sell at horizon

5-year hold

• IRR: -31.6%
• Equity multiple: -0.01×
• Total profit: $-46,470
• Equity at exit: $24,587

10-year hold

• IRR: -67.9%
• Equity multiple: -0.68×
• Total profit: $-77,424
• Equity at exit: $14,258

Cash invested: $46,172 (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 20906

• Rents YoY: 0.2%
• Active inventory: 240
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,777 high
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,474/yr
• Insurance: −$69
• HOA: −$504
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $-240

Break-even live

Break-even rent $2,080

Max offer price $130,175

Occupancy floor —

Sensitivity live

Price	-10% $-126	-5% $-183	+0% $-240	+5% $-297	+10% $-354
Rent	-10% $-380	-5% $-310	+0% $-240	+5% $-170	+10% $-100
Rate	-1.0pp $-157	-0.5pp $-198	base $-240	+0.5pp $-283	+1.0pp $-326

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2301 Glenallan Ave Silver Spring, MD	2.0	1.0–2.0	834	$1,839	$2.20	2d	39	0.10mi
2511 Glenallan Ave Silver Spring, MD	1.0–2.0	1.0–2.0	873	$1,855	$2.12	0d	15	0.39mi
12633 Georgia Ave Silver Spring, MD	1.0–3.0	1.0–2.0	987	$1,654	$1.68	0d	17	0.50mi
1813 Arcola Ave Unit 3 Silver Spring, MD	2.0	1.0	950	$2,000	$2.11	25d	1	1.10mi
1813 Arcola Ave Unit 1 Silver Spring, MD	1.0	1.0	750	$1,650	$2.20	44d	1	1.10mi
11508 Bucknell Dr #87 Silver Spring, MD	2.0	1.0	930	$2,200	$2.37	45d	1	1.21mi
2425 Blueridge Ave Silver Spring, MD	3.0	1.0–3.0	952	$2,060	$2.16	0d	1	1.29mi
11312 King George Dr #4 Silver Spring, MD	2.0	1.0	860	$2,499	$2.91	5d	1	1.49mi

HOA detail condo

• Monthly dues: $504 · $6,048/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-05-06
   price $164,900 625-char remark
2. 2026-04-25
   listed $174,900 Active 625-char remark

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 14% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,321
• − Mortgage interest: −$9,237
• − Property taxes: −$2,474
• − Insurance: −$824
• − Repairs & maintenance: −$1,706
• − Management: −$1,706
• − HOA: −$6,048
• − Depreciation: −$4,797
• Taxable loss: −$5,471
• Est. tax savings @ 24.0%: +$1,313
• After-tax cash flow: $-1,567/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This move-in ready condo in Glenway Gardens is in good condition with an updated kitchen and fresh paint. It offers a good return on investment with minor updates to enhance curb appeal and energy efficiency.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Landscaping and curb appeal improvements — Well-maintained lawn and trees improve curb appeal
• Rental Replace ceiling fans with energy-efficient models — Energy-efficient fans reduce utility costs and appeal to renters

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Landscaping and curb appeal improvements — Well-maintained lawn and trees improve curb appeal ↑
• Rental Replace ceiling fans with energy-efficient models — Energy-efficient fans reduce utility costs and appeal to renters ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Montgomery County Public Schools
• NCES district ID: 2400480
• Math proficiency: 27% ▼ -21.00%
• Reading proficiency: 45% ▼ -10.00%
• Median HH income: $97,191
• Composite: 35.62/100
• National rank: #4889
• State rank: #3 of 24 in MD

Livability — Glenmont

• Score: 80/100
• State rank: #47
• US rank: #1776

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Glenmont, MD
• County: Montgomery County · 961,106 people
• Metro: Washington-Arlington-Alexandria, DC-VA-MD-WV
• Population (ZIP): 70,595
• Household income: $97,521
• Rent vs Own: 33.6% rent · 66.4% own
• Severe rent burden: 2967.0

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 1,173,231 people
• By 2030: 1,237,402 · +5.5%
• By 2040: 1,365,115 · +16.4%
• By 2050: 1,491,592 · +27.1%
• By 2075: 1,803,893 · +53.8%
• By 2100: 2,035,619 · +73.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.76)
• Race & ethnicity: Hispanic / Latino 32% White 26% Black 25% Asian 11% Two or more races 10%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Estonian 2% Romanian 2% Scotch-Irish 1%
• Foreign-born: 42% · Canada, South Korea, Vietnam
• Languages at home: 46% English-only · Spanish 30% Other Indo-European 6% French/Haitian/Cajun 2%

Political lean MEDSL · Montgomery

• 2024 margin: Solid D (+53.3) · D 75.2% · R 21.9% · Other 2.9%
• 2008→2024 swing: +8.7pp toward D · 2008: 44.6pp · 2024: 53.3pp
• All cycles: 2024: D+53.3 2020: D+59.6 2016: D+55.5 2012: D+43.4 2008: D+44.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -366.58%
• Current HPI: 256.9059
• Rent YoY: ▲ 0.24%
• Metro: Washington-Arlington-Alexandria, DC-VA-MD-WV
• 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

-5.7% since first listed

3 events — show timeline

• 2026-05-28 Pending — BRIGHT MLS
• 2026-05-06 Price Changed $164,900 BRIGHT MLS
• 2026-04-25 Listed $174,900 BRIGHT MLS