3827 Hamilton St Unit D-203

Hyattsville, MD 20781

$179,900F

2 bd · 1.0 ba · 948 sqft · Built 1962 · Condo · Active · 223 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,776/mo
• Mortgage (P&I): −$943
• Tax + insurance: −$300
• HOA: −$615
• Vac / Maint / Mgmt: −$373
• Net cashflow: $-455/mo
• Annual: $-5,461/yr
• Cap rate: 3.26%
• Cash-on-cash: -10.84%
• DSCR: 0.52
• 1% rule: 0.99%
• Cash to close: $50,372

Investor read

• This is a 2-bed/1.0-bath condo listed at $180k. Condition is rated good.
• At list price, monthly cash flow is $-455 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $114k (36.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $178k (1.3% below list).
• It's been on market 223 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $114k (36.6% below list) — sets the bar for cash-flow.
• 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.
• Location reads 80/100 on livability (#45 in MD, #1,645 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: crime F, cost of living F.
• Prince George'S County Public Schools (suburban): math 8% / reading 24% proficiency, ranked #21 of 24 in MD (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Hyattsville Elementary (math 8% / reading 13%, grade F, #590 of 860 statewide, top 70%, 423 students, 83% FRL); Hyattsville Middle (math 5% / reading 23%, grade F, #196 of 225 statewide, top 88%, 705 students, 83% FRL); Northwestern High (math 15% / reading 32%, grade F, #169 of 222 statewide, top 76%, 2,346 students, 80% FRL) — zoned schools average 82% FRL vs 53% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: HOA is 35% of rent.
• Market conditions: 79 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 33d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,481 units permitted in Prince George's County in 2024 (0 in 5+ unit buildings).
• Prince George's County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 7 sale attempts since 4y ago; this cycle's ask has dropped $19k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• 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.

Questions for listing agent

• 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?
• It's been on market 223 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
• Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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.
• 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?