2215 Searles Rd · Dundalk, MD 21222

$229,900

3 bd · 1.0 ba · 1,024 sqft · Townhouse public records · 12 Days on market

Built 1953 1,680 sqft lot $225/sqft · 9% above area Est $212k · 9% over

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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 +16.0/30.0
• DSCR +4.9/10.0
• Livability +4.2/5.0
• 1% rule +3.9/10.0
• ARV discount +3.6/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

WELCOME to 2215 Searles Rd, a charming townhome located in the friendly Eastfield/Grange community of Dundalk. The home offers 3 bedrooms and 1 full bath, with fresh updates that make it truly move-in ready. STEP inside to find a bright, inviting interior with updated windows and recently painted in warm, neutral tones. The main living area features luxury vinyl plank flooring and recessed lighting, creating a clean, modern feel. The kitchen features new stainless steel appliances, recessed lighting, and LVP flooring—perfect for everyday living and entertaining. THE upper level updates include new 6 panel doors, ceiling fans in all 3 bedrooms for added comfort and LVP in the hallway and bath. OUTSIDE, enjoy a fully fenced rear yard with a patio, ideal for relaxing or hosting gatherings. The shed is equipped with electricity and for added convenience there’s even potential for a rear parking pad. LOCATED just minutes from I-95 and I-695, this home offers easy access to major commuting routes, as well as nearby marinas, parks, shopping, and dining. UPDATES: Flat roof 2019, windows 5 yrs, W/ D 2023, HVAC 2025, hot water heater 2025, refrigerator/stove/microwave 2026

Key facts

• Built 1953
• Listed 12 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $230k.

Deal economics

• At list price, monthly cash flow is $112 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $204k (11.1% below list).
• Recommended offer: $204k (11.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 85/100 on livability (#16 in MD, #510 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime F.
• 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.
• Market conditions: Rents soft (-0.1%/yr); 236 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,511 units permitted in Baltimore County in 2024 (643 in 5+ unit buildings).
• This rent runs 38% of the median local income ($64k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Baltimore County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 30y 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 $90k; list at $230k implies a 155% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 57% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $204,335 (11.1% below list)

Questions for the listing agent

1. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.89% ✗
• Cap rate: 6.88%
• Cash-on-cash: 2.09%
• DSCR: 1.09
• GRM: 9.4

CMA / ARV

• ARV (median comp): $211,646
• List price: $229,900
• Delta: 8.62%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2328 Searles Rd	0.13mi	3/1.5	1,016 (-1%)	10mo	$220,000	$217	83
7515 Holabird Ave	0.43mi	3/2.0	1,016 (-1%)	2mo	$230,000	$226	72
1903 Ormand Rd	0.19mi	2/1.5 (-1)	896 (-12%)	0mo	$160,000	$179	63
7928 Kavanagh Rd	0.55mi	4/2.0 (+1)	1,024 (0%)	3mo	$256,000	$250	63
1649 Gray Haven Ct	0.75mi	3/1.0	1,008 (-2%)	3mo	$255,000	$253	60
8028 Kavanagh	0.68mi	3/2.0	1,024 (0%)	6mo	$167,000	$163	59
7829 Scholar Rd	0.35mi	3/2.0	1,152 (+12%)	2mo	$252,500	$219	58
2711 Creston Rd	0.73mi	3/1.5	1,024 (0%)	10mo	$199,000	$194	56
7545 Ives Ln	0.56mi	3/1.0	1,144 (+12%)	7mo	$159,000	$139	49
1927 Codd Ave	0.66mi	3/1.0	1,144 (+12%)	8mo	$190,000	$166	43
2857 Plainfield Rd	0.64mi	2/1.5 (-1)	1,121 (+10%)	9mo	$170,000	$152	40
2744 Plainfield Rd	0.73mi	2/2.0 (-1)	896 (-12%)	3mo	$190,000	$212	34

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -16.2%
• Equity multiple: 0.44×
• Total profit: $-36,125
• Equity at exit: $34,279

10-year hold

• IRR: -14.1%
• Equity multiple: 0.29×
• Total profit: $-45,496
• Equity at exit: $19,878

Cash invested: $64,372 (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 21222

• Rents YoY: -0.1%
• Active inventory: 236
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,043 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$201 /mo · $2,409/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$429
• Net cashflow: $112

Break-even live

Break-even rent $1,901

Max offer price $229,900

Occupancy floor 90%

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1915 Merritt Blvd Dundalk, MD	3.0	2.0	1208	$2,500	$2.07	44d	1	0.17mi
7901 Stratman Rd Dundalk, MD	3.0	1.0	890	$1,647	$1.85	2d	1	0.46mi
7930 Kavanagh Rd Dundalk, MD	3.0	1.0	1024	$2,195	$2.14	44d	1	0.54mi
7917 Wise Ave Dundalk, MD	2.0	1.5	1500	$2,500	$1.67	24d	1	0.59mi
7962 Kavanagh Rd Dundalk, MD	3.0	2.0	1024	$1,947	$1.90	15d	1	0.60mi
7508 Ives Ln Dundalk, MD	2.0	1.0	896	$1,750	$1.95	44d	1	0.63mi
2020 Dineen Dr Dundalk, MD	3.0	1.5	1258	$1,850	$1.47	5d	1	0.63mi
414 Westfield Rd Dundalk, MD	3.0	1.0	1024	$2,300	$2.25	44d	1	0.67mi
2624 Liberty Pkwy Dundalk, MD	3.0	1.5	1110	$1,856	$1.67	44d	1	0.78mi
1930 Frames Rd Dundalk, MD	3.0	2.0	1152	$2,099	$1.82	5d	1	0.78mi
2976 Cornwall Rd Unit 1 Dundalk, MD	2.0	1.0	900	$1,590	$1.77	15d	1	0.82mi
2959 Liberty Pkwy Dundalk, MD	3.0	2.0	1479	$2,150	$1.45	44d	1	0.83mi
12 Leeway Dundalk, MD	3.0	1.0	1358	$1,750	$1.29	44d	1	0.87mi
7003 Dunmanway Dundalk, MD	1.0–2.0	1.0	772	$1,345	$1.74	2d	13	0.92mi
1955 Walnut Ave Dundalk, MD	3.0	1.0	950	$2,300	$2.42	44d	1	0.99mi
1925 Jasmine Rd Dundalk, MD	3.0	1.5	1024	$1,825	$1.78	11d	1	0.99mi
2032 Kelmore Rd Dundalk, MD	3.0	1.0	1024	$1,700	$1.66	44d	1	1.00mi
8146 Del Haven Rd Dundalk, MD	3.0	2.0	1424	$2,700	$1.90	16d	1	1.02mi
2025 Kelmore Rd Unit 1 Dundalk, MD	3.0	1.0	1024	$2,000	$1.95	44d	1	1.03mi
2004 Larkhall Rd Dundalk, MD	3.0	1.0	1024	$1,500	$1.46	44d	1	1.05mi
7718 Meath Rd Dundalk, MD	3.0	2.0	864	$2,200	$2.55	44d	1	1.11mi
849 Loalan Ave Dundalk, MD	3.0	1.5	1024	$1,850	$1.81	15d	1	1.13mi
3000 Wallford Dr Dundalk, MD	1.0–2.0	1.0	717	$1,330	$1.85	3d	35	1.14mi
3503 Sollers Point Rd Dundalk, MD	3.0	1.0	776	$1,850	$2.38	13d	1	1.15mi
1610 Melbourne Rd Dundalk, MD	1.0–2.0	1.0	664	$1,240	$1.87	13d	1	1.15mi
3413 Yardley Dr Dundalk, MD	4.0	2.0	1185	$2,400	$2.03	44d	1	1.20mi
3443 Dunhaven Rd Dundalk, MD	2.0	2.0	1016	$1,900	$1.87	5d	1	1.22mi
7484 Rabon Ave Dundalk, MD	3.0	1.5	1499	$2,000	$1.33	44d	1	1.22mi
3481 McShane Way Dundalk, MD	2.0	1.5	896	$2,150	$2.40	44d	1	1.25mi
8499 Lynch Rd Dundalk, MD	1.0–3.0	1.0–2.0	950	$2,202	$2.32	2d	32	1.25mi
1533 Leslie Rd Dundalk, MD	4.0	1.0	1270	$2,000	$1.57	44d	1	1.26mi
2125 Cameron Dr Dundalk, MD	1.0–2.0	1.0	697	$1,350	$1.94	44d	9	1.26mi
7520 Durwood Rd Dundalk, MD	3.0	1.0	1110	$2,100	$1.89	44d	1	1.29mi
266 Saint Helena Ave Dundalk, MD	3.0	1.0	1305	$1,900	$1.46	13d	1	1.33mi
3221 Wallford Dr Unit 3221 Dundalk, MD	3.0	1.0	1008	$1,750	$1.74	5d	1	1.33mi
3221 Wallford Dr Dundalk, MD	3.0	1.0	1008	$1,750	$1.74	4d	1	1.33mi
11 Seabright Ave Dundalk, MD	3.0	1.0	948	$1,874	$1.98	15d	1	1.35mi
7 Robinson Ave Dundalk, MD	3.0	2.0	1100	$2,600	$2.36	44d	1	1.36mi
8220 Cornwall Rd Dundalk, MD	3.0	2.0	1125	$1,775	$1.58	44d	1	1.40mi
3314 Wallford Dr Dundalk, MD	3.0	1.0	1258	$1,850	$1.47	15d	1	1.40mi

Listing history 10 events

1. 2026-05-14
   status Pending 1193-char remark

   Show marketing remark (1193 chars)

   WELCOME to 2215 Searles Rd, a charming townhome located in the friendly Eastfield/Grange community of Dundalk. The home offers 3 bedrooms and 1 full bath, with fresh updates that make it truly move-in ready. STEP inside to find a bright, inviting interior with updated windows and recently painted in warm, neutral tones. The main living area features luxury vinyl plank flooring and recessed lighting, creating a clean, modern feel. The kitchen features new stainless steel appliances, recessed lighting, and LVP flooring—perfect for everyday living and entertaining. THE upper level updates include new 6 panel doors, ceiling fans in all 3 bedrooms for added comfort and LVP in the hallway and bath. OUTSIDE, enjoy a fully fenced rear yard with a patio, ideal for relaxing or hosting gatherings. The shed is equipped with electricity and for added convenience there’s even potential for a rear parking pad. LOCATED just minutes from I-95 and I-695, this home offers easy access to major commuting routes, as well as nearby marinas, parks, shopping, and dining. UPDATES: Flat roof 2019, windows 5 yrs, W/ D 2023, HVAC 2025, hot water heater 2025, refrigerator/stove/microwave 2026

2. 2026-05-02
   listed $229,900 Active 1193-char remark

   Show marketing remark (1193 chars)

   WELCOME to 2215 Searles Rd, a charming townhome located in the friendly Eastfield/Grange community of Dundalk. The home offers 3 bedrooms and 1 full bath, with fresh updates that make it truly move-in ready. STEP inside to find a bright, inviting interior with updated windows and recently painted in warm, neutral tones. The main living area features luxury vinyl plank flooring and recessed lighting, creating a clean, modern feel. The kitchen features new stainless steel appliances, recessed lighting, and LVP flooring—perfect for everyday living and entertaining. THE upper level updates include new 6 panel doors, ceiling fans in all 3 bedrooms for added comfort and LVP in the hallway and bath. OUTSIDE, enjoy a fully fenced rear yard with a patio, ideal for relaxing or hosting gatherings. The shed is equipped with electricity and for added convenience there’s even potential for a rear parking pad. LOCATED just minutes from I-95 and I-695, this home offers easy access to major commuting routes, as well as nearby marinas, parks, shopping, and dining. UPDATES: Flat roof 2019, windows 5 yrs, W/ D 2023, HVAC 2025, hot water heater 2025, refrigerator/stove/microwave 2026

3. 2026-04-10
   historical $229,900 1193-char remark

   Show marketing remark (1193 chars)

   WELCOME to 2215 Searles Rd, a charming townhome located in the friendly Eastfield/Grange community of Dundalk. The home offers 3 bedrooms and 1 full bath, with fresh updates that make it truly move-in ready. STEP inside to find a bright, inviting interior with updated windows and recently painted in warm, neutral tones. The main living area features luxury vinyl plank flooring and recessed lighting, creating a clean, modern feel. The kitchen features new stainless steel appliances, recessed lighting, and LVP flooring—perfect for everyday living and entertaining. THE upper level updates include new 6 panel doors, ceiling fans in all 3 bedrooms for added comfort and LVP in the hallway and bath. OUTSIDE, enjoy a fully fenced rear yard with a patio, ideal for relaxing or hosting gatherings. The shed is equipped with electricity and for added convenience there’s even potential for a rear parking pad. LOCATED just minutes from I-95 and I-695, this home offers easy access to major commuting routes, as well as nearby marinas, parks, shopping, and dining. UPDATES: Flat roof 2019, windows 5 yrs, W/ D 2023, HVAC 2025, hot water heater 2025, refrigerator/stove/microwave 2026

4. 2021-10-15
   soldstatus $90,000
5. 1996-12-30
   historical
6. 1996-11-29
   soldstatus $55,000
7. 1996-10-14
   historical
8. 1996-10-02
   listed
9. 1996-06-29
   listed
10. 1980-12-16
    soldstatus $31,600

ⓘ 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: $2,409 · $201/mo
• Projected year-2 tax: $2,457 · $205/mo
• Expected delta: +$49/yr (+$4/mo · 2.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 57% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,520
• − Mortgage interest: −$12,878
• − Property taxes: −$2,409
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,962
• − Management: −$1,962
• − Depreciation: −$6,688
• Taxable loss: −$2,527
• Est. tax savings @ 24.0%: +$607
• After-tax cash flow: $1,952/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: Baltimore County Public Schools
• NCES district ID: 2400120
• Math proficiency: 15% ▼ -16.00%
• Reading proficiency: 34% ▼ -5.00%
• Median HH income: $66,746
• Composite: 23.17/100
• National rank: #7948
• State rank: #11 of 24 in MD

Livability — Dundalk

• Score: 85/100
• State rank: #16
• US rank: #510

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dundalk, MD
• County: Baltimore County · 769,527 people
• City population: 59,407
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 59,407
• Household income: $64,141
• Rent vs Own: 35.1% rent · 64.9% own
• Severe rent burden: 2566.0

Population outlook (Baltimore County) Hauer SSP2

• Today (2025): 885,518 people
• By 2030: 909,272 · +2.7%
• By 2040: 951,547 · +7.5%
• By 2050: 990,955 · +11.9%
• By 2075: 1,086,411 · +22.7%
• By 2100: 1,135,078 · +28.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 59% Black 18% Hispanic / Latino 15% Two or more races 7% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Romanian 7% Lithuanian 1% Italian 1%
• Foreign-born: 9% · Canada
• Languages at home: 85% English-only · Spanish 11% Other Indo-European 2% Arabic 1%

Political lean MEDSL · Baltimore

• 2024 margin: Strong D (+24.5) · D 61.0% · R 36.5% · Other 2.5%
• 2008→2024 swing: +9.9pp toward D · 2008: 14.6pp · 2024: 24.5pp
• All cycles: 2024: D+24.5 2020: D+27.0 2016: D+17.4 2012: D+16.4 2008: D+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -251.44%
• Current HPI: 228.4218
• Rent YoY: ▼ -0.09%
• Metro: Baltimore-Columbia-Towson, 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

+627.5% since first listed

10 events — show timeline

• 2026-05-14 Pending — BRIGHT MLS
• 2026-05-02 Listed $229,900 BRIGHT MLS
• 2026-04-10 Coming Soon $229,900 BRIGHT MLS
• 2021-10-15 Sold (Public Records) $90,000 Public Records
• 1996-12-30 Delisted — MRIS
• 1996-11-29 Sold (Public Records) $55,000 Public Records
• 1996-10-14 Delisted — MRIS
• 1996-10-02 Listed — MRIS
• 1996-06-29 Listed — MRIS
• 1980-12-16 Sold (Public Records) $31,600 Public Records

Property tax history

+2.2%/yr

Latest (2025): $2,409 · +19.5% YoY. Source: county tax records.