63 Peppermint Ln · Middle River, MD 21220

$68,000

3 bd · 2.0 ba · 982 sqft · SingleFamily · 289 Days on market

Built 1989 Fair condition $69/sqft · at area comps Est $69k · at est.

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +8.0/15.0
• Livability +3.9/5.0
• Rent growth +2.7/5.0
• Schools +2.3/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Open floor plan • Vaulted ceilings • Covered front porch + rear deck • Williams Estates & Peppermint Woods community This well-maintained manufactured home in the Williams Estates & Peppermint Woods community offers convenient single-level living with an efficient layout and community amenities close to Middle River attractions. Built in 2005, the home features 3 bedrooms, 2 full bathrooms, and approximately 982 sq ft of living space. Inside, the open-concept living area includes vaulted ceilings, a bright living room, dining space, and a kitchen with a central island and ample cabinet storage. Down the hall, the primary bedroom, two additional bedrooms, and two full baths with tub/shower combos provide flexible space for daily living or guests. A laundry area off the kitchen adds everyday convenience. Outside, enjoy a covered front porch, a rear deck, and driveway parking for multiple vehicles. The Williams Estates & Peppermint Woods community includes playgrounds, walking paths, and a community center, with community maintenance and services included in the land lease. Nearby anchors include Martin State Airport MARC Station (1.1 mi), Eastern Regional Park (1.5 mi), Bengies Drive-In Theatre (1.8 mi), Crazy Tuna Bar & Grille (2.0 mi), Creekside Bar & Grill (2.2 mi), Food Lion (1.2 mi), and Starbucks (1.6 mi), with easy access to MD-150 (Eastern Blvd) for commuting.

Key facts

• Built 1989
• Listed 288 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $68k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $68k).
• Recommended offer: $60k (12.0% below list) — sets the bar for market timing.
• Cap rate 29.5% vs local median 4.1% in Middle River — 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 78/100 on livability (#76 in MD, #2,777 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: schools F, 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 flat; 251 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,511 units permitted in Baltimore County in 2024 (643 in 5+ unit buildings).
• This rent runs 33% of the median local income ($82k/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 $470 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 0.8% rent growth), your $19k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 289 days — a 12% lower offer ($60k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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.

Recommended offer $59,840 (12.0% below list)

Questions for the listing agent

1. It's been on market 289 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-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 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: 3.32% ✓
• Cap rate: 29.46%
• Cash-on-cash: 82.76%
• DSCR: 4.68
• GRM: 2.5

CMA / ARV

• ARV (median comp): $68,687
• List price: $68,000
• Delta: -1.00%
• Verdict: FAIR
• Comps: 11 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.83% rent growth · sell at horizon

5-year hold

• IRR: 80.6%
• Equity multiple: 4.56×
• Total profit: $67,821
• Equity at exit: $10,139

10-year hold

• IRR: 83.5%
• Equity multiple: 8.77×
• Total profit: $147,933
• Equity at exit: $5,879

Cash invested: $19,040 (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 21220

• Rents YoY: 0.8%
• Active inventory: 251
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $2,257 high
• Mortgage (P&I): −$357
• Tax est. 1.5%: −$85 /mo · $1,020/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$474
• Net cashflow: $1,313

Break-even live

Break-even rent $595

Max offer price $68,000

Occupancy floor 37%

Sensitivity live

Price	-10% $1,360	-5% $1,337	+0% $1,313	+5% $1,290	+10% $1,266
Rent	-10% $1,135	-5% $1,224	+0% $1,313	+5% $1,402	+10% $1,491
Rate	-1.0pp $1,347	-0.5pp $1,330	base $1,313	+0.5pp $1,295	+1.0pp $1,278

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: $17,000
• Closing costs: $2,040
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11550 Crossroads Cir Middle River, MD	1.0–2.0	1.0–2.0	893	$2,849	$3.19	2d	15	1.05mi
3736 White Pine Rd Middle River, MD	1.0–2.0	1.0	741	$1,310	$1.77	2d	21	1.10mi
1 Alder Dr Middle River, MD	1.0–3.0	1.0	1000	$2,249	$2.25	5d	10	1.27mi
6221 Greenleigh Ave Middle River, MD	1.0–2.0	1.0–2.0	1059	$2,957	$2.79	2d	16	1.39mi
37 Alberge Ln Middle River, MD	2.0–3.0	1.0–2.0	928	$2,052	$2.21	2d	8	1.49mi

Listing history 20 events

1. 2026-06-18
   days on market $68,000 Active 289 DOM
2. 2026-06-17
   days on market $68,000 Active 288 DOM
3. 2026-06-16
   days on market $68,000 Active 287 DOM
4. 2026-06-15
   days on market $68,000 Active 286 DOM
5. 2026-06-13
   days on market $68,000 Active 284 DOM
6. 2026-06-09
   days on market $68,000 Active 280 DOM
7. 2026-06-08
   days on market $68,000 Active 279 DOM
8. 2026-06-07
   days on market $68,000 Active 278 DOM
9. 2026-06-04
   days on market $68,000 Active 275 DOM
10. 2026-06-03
    days on market $68,000 Active 274 DOM
11. 2026-06-02
    days on market $68,000 Active 273 DOM
12. 2026-06-01
    days on market $68,000 Active 272 DOM
13. 2026-05-31
    days on market $68,000 Active 271 DOM
14. 2025-09-03
    listed $68,000 Active 1433-char remark

    Show marketing remark (1433 chars)

    Open floor plan • Vaulted ceilings • Covered front porch + rear deck • Williams Estates & Peppermint Woods community This well-maintained manufactured home in the Williams Estates & Peppermint Woods community offers convenient single-level living with an efficient layout and community amenities close to Middle River attractions. Built in 2005, the home features 3 bedrooms, 2 full bathrooms, and approximately 982 sq ft of living space. Inside, the open-concept living area includes vaulted ceilings, a bright living room, dining space, and a kitchen with a central island and ample cabinet storage. Down the hall, the primary bedroom, two additional bedrooms, and two full baths with tub/shower combos provide flexible space for daily living or guests. A laundry area off the kitchen adds everyday convenience. Outside, enjoy a covered front porch, a rear deck, and driveway parking for multiple vehicles. The Williams Estates & Peppermint Woods community includes playgrounds, walking paths, and a community center, with community maintenance and services included in the land lease. Nearby anchors include Martin State Airport MARC Station (1.1 mi), Eastern Regional Park (1.5 mi), Bengies Drive-In Theatre (1.8 mi), Crazy Tuna Bar & Grille (2.0 mi), Creekside Bar & Grill (2.2 mi), Food Lion (1.2 mi), and Starbucks (1.6 mi), with easy access to MD-150 (Eastern Blvd) for commuting.

15. 2025-08-25
    historical $68,000 1433-char remark

    Show marketing remark (1433 chars)

    Open floor plan • Vaulted ceilings • Covered front porch + rear deck • Williams Estates & Peppermint Woods community This well-maintained manufactured home in the Williams Estates & Peppermint Woods community offers convenient single-level living with an efficient layout and community amenities close to Middle River attractions. Built in 2005, the home features 3 bedrooms, 2 full bathrooms, and approximately 982 sq ft of living space. Inside, the open-concept living area includes vaulted ceilings, a bright living room, dining space, and a kitchen with a central island and ample cabinet storage. Down the hall, the primary bedroom, two additional bedrooms, and two full baths with tub/shower combos provide flexible space for daily living or guests. A laundry area off the kitchen adds everyday convenience. Outside, enjoy a covered front porch, a rear deck, and driveway parking for multiple vehicles. The Williams Estates & Peppermint Woods community includes playgrounds, walking paths, and a community center, with community maintenance and services included in the land lease. Nearby anchors include Martin State Airport MARC Station (1.1 mi), Eastern Regional Park (1.5 mi), Bengies Drive-In Theatre (1.8 mi), Crazy Tuna Bar & Grille (2.0 mi), Creekside Bar & Grill (2.2 mi), Food Lion (1.2 mi), and Starbucks (1.6 mi), with easy access to MD-150 (Eastern Blvd) for commuting.

16. 2023-07-21
    soldstatus $59,900 Closed 353-char remark

    Show marketing remark (353 chars)

    3 bed 2 bath singlewide mobile home with appliances, covered deck and porch, and 2 shed. Sits in a private community with private playground, dog park, walking trail and gazebo. Great walking score, close to almost anything such as beach, good eats, shopping, malls, parks, nature center and more. Freshly painted, updated doors, roof, hvac, and carpet.

17. 2023-07-17
    historical Active Under Contract 353-char remark

    Show marketing remark (353 chars)

    3 bed 2 bath singlewide mobile home with appliances, covered deck and porch, and 2 shed. Sits in a private community with private playground, dog park, walking trail and gazebo. Great walking score, close to almost anything such as beach, good eats, shopping, malls, parks, nature center and more. Freshly painted, updated doors, roof, hvac, and carpet.

18. 2023-07-09
    status Active 353-char remark

    Show marketing remark (353 chars)

    3 bed 2 bath singlewide mobile home with appliances, covered deck and porch, and 2 shed. Sits in a private community with private playground, dog park, walking trail and gazebo. Great walking score, close to almost anything such as beach, good eats, shopping, malls, parks, nature center and more. Freshly painted, updated doors, roof, hvac, and carpet.

19. 2023-06-13
    historical Active Under Contract 353-char remark

    Show marketing remark (353 chars)

    3 bed 2 bath singlewide mobile home with appliances, covered deck and porch, and 2 shed. Sits in a private community with private playground, dog park, walking trail and gazebo. Great walking score, close to almost anything such as beach, good eats, shopping, malls, parks, nature center and more. Freshly painted, updated doors, roof, hvac, and carpet.

20. 2023-01-21
    listed $59,900 Active 353-char remark

    Show marketing remark (353 chars)

    3 bed 2 bath singlewide mobile home with appliances, covered deck and porch, and 2 shed. Sits in a private community with private playground, dog park, walking trail and gazebo. Great walking score, close to almost anything such as beach, good eats, shopping, malls, parks, nature center and more. Freshly painted, updated doors, roof, hvac, and carpet.

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

Taxation est. · year 1

• Rental income: $27,084
• − Mortgage interest: −$3,809
• − Property taxes: −$1,020
• − Insurance: −$340
• − Repairs & maintenance: −$2,167
• − Management: −$2,167
• − Depreciation: −$1,978
• Taxable income: $15,603
• Est. tax owed @ 24.0%: −$3,745
• After-tax cash flow: $12,012/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

Fair 45/100 Moderate rehab

This home requires moderate renovations to improve its condition and increase its value. The kitchen and bathrooms are in poor condition and need major updates. The exterior siding also shows moderate wear. Painting the interior walls and replacing the carpet would improve the home's curb appeal and increase its value.

Repairs flagged

• Major kitchen cabinets — dated and in poor condition
• Major kitchen appliances — outdated and in poor condition
• Major bathroom fixtures — outdated and in poor condition
• Moderate exterior siding — moderate wear

Value-add opportunities

• Resale update kitchen cabinets and appliances — modernizing the kitchen would significantly increase its appeal
• Resale update bathroom fixtures — modernizing the bathrooms would significantly increase its appeal
• Both paint interior walls — painting the interior walls would improve the home's curb appeal and increase its value
• Both replace carpet — replacing the carpet would improve the home's curb appeal and increase its value
• Both clean and organize bathrooms — cleaning and organizing the bathrooms would improve the home's curb appeal and increase its value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in poor condition	Major	$15,000–50,000
kitchen appliances · outdated and in poor condition	Major	$15,000–50,000
bathroom fixtures · outdated and in poor condition	Major	$15,000–50,000
exterior siding · moderate wear	Moderate	$3,000–15,000
Total estimated repair cost · 4 items		$48,000–165,000

Value-add ROI direction

• Resale update kitchen cabinets and appliances — modernizing the kitchen would significantly increase its appeal ↑
• Resale update bathroom fixtures — modernizing the bathrooms would significantly increase its appeal ↑
• Both paint interior walls — painting the interior walls would improve the home's curb appeal and increase its value ↑
• Both replace carpet — replacing the carpet would improve the home's curb appeal and increase its value ↑
• Both clean and organize bathrooms — cleaning and organizing the bathrooms would improve the home's curb appeal and increase its value ↑

ⓘ 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: 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 — Middle River

• Score: 78/100
• State rank: #76
• US rank: #2777

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Middle River, MD
• County: Baltimore County · 769,527 people
• City population: 42,824
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 42,824
• Household income: $81,817
• Rent vs Own: 31.2% rent · 68.8% own
• Severe rent burden: 1921.0

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 57% Black 27% Two or more races 6% Hispanic / Latino 6% Asian 5%
• Hispanic origin (detail): Puerto Rican 1%
• Common ancestry: Romanian 4% Ukrainian 2% Lithuanian 1%
• Foreign-born: 12% · Canada, Vietnam
• Languages at home: 86% English-only · Spanish 3% Arabic 3% Tagalog/Filipino 2%

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: ▼ -199.31%
• Current HPI: 254.5597
• Rent YoY: ▲ 0.83%
• 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

+13.5% since first listed

7 events — show timeline

• 2025-09-03 Listed $68,000 BRIGHT MLS
• 2025-08-25 Coming Soon $68,000 BRIGHT MLS
• 2023-07-21 Sold (MLS) $59,900 BRIGHT MLS
• 2023-07-17 Contingent — BRIGHT MLS
• 2023-07-09 Relisted — BRIGHT MLS
• 2023-06-13 Contingent — BRIGHT MLS
• 2023-01-21 Listed $59,900 BRIGHT MLS