5624 Queen Anne Ct · New Market, MD 21774

$330,000

3 bd · 2.5 ba · 1,640 sqft · Townhouse public records · 6 Days on market

Built 1998 1,307 sqft lot Est $364k · 9% under $91/mo HOA · 3% of rent

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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).

• Cash flow +13.0/30.0
• ARV discount +11.7/15.0
• DSCR +3.9/10.0
• 1% rule +3.6/10.0
• Livability +3.5/5.0
• Schools +3.4/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits in the heart of New Market! This home offers the chance to build equity and make it your own. While it could use some updates and personal touches, the potential is undeniable. Whether you're a first-time buyer looking for an affordable way into a great community, an investor searching for your next project, or someone ready to create a home that fits your style, this property is worth a look. Conveniently located near shopping, dining, parks, and commuter routes, this is your chance to turn potential into reality.

Key facts

• $91 HOA
• 2 parking spots
• Built 1998

Property features AI

Finance

• HOA & community: HOA fee of $91.67 per month

Exterior

• Parking: Assigned spaces in a parking lot (2 total, 2 assigned)
• Utilities: Public water; Public sewer
• Home design: Interior townhouse/rowhouse; Estimated year built
• Construction: Vinyl siding; Asphalt roof; Concrete perimeter foundation; Above-grade and below-grade structures
• Exterior features: Full basement with rough bath plumbing; 400 sq ft finished below-grade area

Interior

• Bedrooms: 3 bedrooms on the upper level
• Bathrooms: 2 full bathrooms on the upper level; 1 half bathroom on the main level; 2 full bathrooms total; 1 half bathroom total
• Heating & cooling: Heat pump heating (electric); Central air conditioning; Electric hot water
• Interior features: Master bathroom

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $330k.

Deal economics

• At list price, monthly cash flow is $-21 ($-250/yr) — negative.
• To cash-flow at today's rent, offer at most $326k (1.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $284k (13.9% below list).
• Recommended offer: $284k (13.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 69/100 on livability (#193 in MD) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Frederick County Public Schools (other): math 27% / reading 43% proficiency, ranked #4 of 24 in MD (top 17%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.1%/yr); 114 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 1,562 units permitted in Frederick County in 2024 (374 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Frederick County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 28y 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.
• Current owner paid $121k; list at $330k implies a 173% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $284,159 (13.9% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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.

Investment metrics

• 1% rule: 0.86% ✗
• Cap rate: 6.22%
• Cash-on-cash: -0.27%
• DSCR: 0.99
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $364,080
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5646 Joseph Ct	0.10mi	3/2.5	1,748 (+7%)	0mo	$415,000	$237	84
5686 Joseph Ct	0.18mi	3/3.0	1,728 (+5%)	3mo	$410,000	$237	78
5713 Joseph Ct	0.25mi	3/3.0	1,722 (+5%)	5mo	$380,000	$221	74
5697 Joseph Ct	0.22mi	3/3.0	1,728 (+5%)	10mo	$380,000	$220	71
5576 Talbot Ct	0.16mi	3/2.5	1,748 (+7%)	14mo	$385,000	$220	70
5655 Tessie Ct	0.19mi	3/3.0	1,756 (+7%)	9mo	$380,000	$216	70
5702 Joseph Ct	0.21mi	3/2.5	1,756 (+7%)	10mo	$400,000	$228	70
5696 Joseph Ct	0.20mi	3/3.0	1,756 (+7%)	9mo	$390,000	$222	69
5700 Joseph Ct	0.21mi	3/3.0	1,806 (+10%)	3mo	$416,000	$230	69
5709 Joseph Ct	0.24mi	3/2.5	1,756 (+7%)	13mo	$425,000	$242	66
5653 Tessie Ct	0.19mi	3/3.0	1,872 (+14%)	2mo	$405,000	$216	64
5633 Tessie Ct	0.18mi	3/3.5	1,839 (+12%)	7mo	$380,000	$207	62

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.06% rent growth · sell at horizon

5-year hold

• IRR: -18.9%
• Equity multiple: 0.35×
• Total profit: $-60,211
• Equity at exit: $49,204

10-year hold

• IRR: -15.9%
• Equity multiple: 0.18×
• Total profit: $-75,480
• Equity at exit: $28,532

Cash invested: $92,400 (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 21774

• Home prices YoY: -8.3%
• Rents YoY: 1.1%
• Active inventory: 114
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,842 medium
• Mortgage (P&I): −$1,731
• Tax from tax record: −$307 /mo · $3,680/yr
• Insurance: −$138
• HOA: −$91
• Vacancy / Maint / Mgmt: −$597
• Net cashflow: $-21

Break-even live

Break-even rent $2,868

Max offer price $326,315

Occupancy floor 96%

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: $82,500
• Closing costs: $9,900
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5621 Queen Anne Ct New Market, MD	3.0	2.5	1800	$2,500	$1.39	43d	1	0.04mi

HOA detail

• Monthly dues: $91 · $1,092/yr

Listing history 5 events

1. 2026-06-08
   statusdays on market $330,000 Pending 6 DOM
2. 2026-06-07
   days on market $330,000 Active 5 DOM
3. 2026-06-04
   days on market $330,000 Active 2 DOM
4. 2026-06-03
   remarks 539-char remark
5. 2026-06-03
   listed $330,000 Active 1 DOM

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

Tax reassessment forecast MD · Partial reset (capped growth)

• Current annual tax: $3,680 · $307/mo
• Projected year-2 tax: $3,680 · $307/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 8% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,099
• − Mortgage interest: −$18,485
• − Property taxes: −$3,680
• − Insurance: −$1,650
• − Repairs & maintenance: −$2,728
• − Management: −$2,728
• − HOA: −$1,092
• − Depreciation: −$9,600
• Taxable loss: −$5,864
• Est. tax savings @ 24.0%: +$1,407
• After-tax cash flow: $1,157/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: Frederick County Public Schools
• NCES district ID: 2400330
• Math proficiency: 27% ▼ -23.00%
• Reading proficiency: 43% ▼ -15.00%
• Median HH income: $84,020
• Composite: 33.54/100
• National rank: #5429
• State rank: #4 of 24 in MD

Livability — New Market

• Score: 69/100
• State rank: #193
• US rank: #8925

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Frederick County · 171,753 people
• City population: 17,134
• Metro: Washington-Arlington-Alexandria, DC-VA-MD-WV
• Population (ZIP): 17,134
• Household income: $171,103
• Rent vs Own: 6.5% rent · 93.5% own
• Severe rent burden: 86.0

Population outlook (Frederick County) Hauer SSP2

• Today (2025): 269,438 people
• By 2030: 280,160 · +4.0%
• By 2040: 298,408 · +10.8%
• By 2050: 311,062 · +15.4%
• By 2075: 342,819 · +27.2%
• By 2100: 351,361 · +30.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Two or more races 10% Hispanic / Latino 8% Black 5% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Romanian 4% Slovak 3% Lithuanian 2%
• Foreign-born: 8% · Canada, South Korea, China
• Languages at home: 90% English-only · Spanish 5% German/W. Germanic 1% Other Indo-European 1%

Political lean MEDSL · Frederick

• 2024 margin: Lean D (+8.8) · D 53.2% · R 44.4% · Other 2.5%
• 2008→2024 swing: +9.9pp toward D · 2008: -1.0pp · 2024: 8.8pp
• All cycles: 2024: D+8.8 2020: D+9.6 2016: R+4.0 2012: R+3.9 2008: R+1.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -26.68%
• Current HPI: 296.1016
• Rent YoY: ▲ 1.06%
• 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

+172.6% since first listed

4 events — show timeline

• 2026-06-02 Listed $330,000 BRIGHT MLS
• 1998-10-19 Sold (MLS) $121,050 MRIS
• 1998-08-07 Listed $121,050 MRIS
• 1998-08-07 Delisted — MRIS

Property tax history

+4.5%/yr

Latest (2025): $3,680 · +7.6% YoY. Source: county tax records.