11540 Philadelphia Rd Unit 5A · Honeygo, MD 21162

$69,990

3 bd · 2.0 ba · 1,216 sqft · SingleFamily · 72 Days on market

Built 1996 Good condition 1,306 sqft lot $58/sqft · 75% below area ↓ 6% since listing

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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 +7.5/15.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this affordable and beautifully updated 3-bedroom, 2-bath manufactured home in the desirable Sylvania Mobile Park off Old Philadelphia Road in Rosedale. Designed for easy, low-maintenance living, this spacious home features vaulted ceilings, new flooring, and a brand-new bathrooms. The modern kitchen has been fully renovated with sleek countertops and stainless steel appliances, making it both stylish and functional. The open floor plan offers a bright living area and three comfortable bedrooms, including a primary suite with a private full bath. Sylvania Mobile Park provides a welcoming community feel while being just minutes from local conveniences. Enjoy close proximity to White Marsh Mall, shopping centers, grocery stores, and a variety of dining options. Outdoor recreation is nearby with easy access to local parks and trails, and commuters will appreciate quick connections to I-95, I-695, and downtown Baltimore. Move right in and enjoy the perfect blend of value, comfort, and location!

Key facts

• 1,306 sq ft lot
• Built 1996
• Listed 71 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $70k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $70k).
• Recommended offer: $66k (6.0% below list) — sets the bar for market timing.
• Cap rate 32.6% vs local median 2.7% in Honeygo — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• 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: 39 active listings in the ZIP; 1,511 units permitted in Baltimore County in 2024 (643 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $484 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 + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $5k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $65,790 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 3.65% ✓
• Cap rate: 32.59%
• Cash-on-cash: 93.90%
• DSCR: 5.18
• GRM: 2.3

CMA / ARV

• ARV (median comp): $281,069
• List price: $69,990
• Delta: -75.10%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5706 Allender Rd	0.34mi	3/2.0	1,368 (+12%)	3mo	$451,000	$330	61
11500 Philadelphia Rd	0.18mi	4/1.5 (+1)	1,080 (-11%)	7mo	$220,000	$204	60
11608 Bonaparte Ave	0.51mi	3/2.0	1,338 (+10%)	13mo	$250,000	$187	49

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 94.7%
• Equity multiple: 5.41×
• Total profit: $86,366
• Equity at exit: $10,436

10-year hold

• IRR: 97.5%
• Equity multiple: 11.26×
• Total profit: $201,126
• Equity at exit: $6,051

Cash invested: $19,597 (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 21162

• Home prices YoY: -20.4%
• Active inventory: 39
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $2,553 medium
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$87 /mo · $1,050/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$536
• Net cashflow: $1,533

Break-even live

Break-even rent $612

Max offer price $69,990

Occupancy floor 35%

Sensitivity live

Price	-10% $1,582	-5% $1,558	+0% $1,533	+5% $1,509	+10% $1,485
Rent	-10% $1,332	-5% $1,433	+0% $1,533	+5% $1,634	+10% $1,735
Rate	-1.0pp $1,569	-0.5pp $1,551	base $1,533	+0.5pp $1,515	+1.0pp $1,497

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: $17,498
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $69,990 Active 72 DOM
2. 2026-06-18
   days on market $69,990 Active 69 DOM
3. 2026-06-17
   days on market $69,990 Active 68 DOM
4. 2026-06-16
   pricedays on market $69,990 Active 67 DOM
5. 2026-06-15
   days on market $74,999 Active 66 DOM
6. 2026-06-13
   days on market $74,999 Active 64 DOM
7. 2026-06-09
   days on market $74,999 Active 60 DOM
8. 2026-06-08
   days on market $74,999 Active 59 DOM
9. 2026-06-07
   days on market $74,999 Active 58 DOM
10. 2026-06-04
    days on market $74,999 Active 55 DOM
11. 2026-06-03
    days on market $74,999 Active 54 DOM
12. 2026-06-02
    days on market $74,999 Active 53 DOM
13. 2026-06-01
    days on market $74,999 Active 52 DOM
14. 2026-05-31
    days on market $74,999 Active 51 DOM
15. 2026-04-10
    listed $74,999 Active 1016-char remark

    Show marketing remark (1016 chars)

    Welcome to this affordable and beautifully updated 3-bedroom, 2-bath manufactured home in the desirable Sylvania Mobile Park off Old Philadelphia Road in Rosedale. Designed for easy, low-maintenance living, this spacious home features vaulted ceilings, new flooring, and a brand-new bathrooms. The modern kitchen has been fully renovated with sleek countertops and stainless steel appliances, making it both stylish and functional. The open floor plan offers a bright living area and three comfortable bedrooms, including a primary suite with a private full bath. Sylvania Mobile Park provides a welcoming community feel while being just minutes from local conveniences. Enjoy close proximity to White Marsh Mall, shopping centers, grocery stores, and a variety of dining options. Outdoor recreation is nearby with easy access to local parks and trails, and commuters will appreciate quick connections to I-95, I-695, and downtown Baltimore. Move right in and enjoy the perfect blend of value, comfort, and location!

16. 2026-03-31
    historical
17. 2026-01-12
    status Active
18. 2025-12-31
    historical
19. 2025-08-27
    status Active
20. 2025-08-26
    listed $79,990 Active
21. 2025-08-26
    historical

ⓘ 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: $30,641
• − Mortgage interest: −$3,921
• − Property taxes: −$1,050
• − Insurance: −$350
• − Repairs & maintenance: −$2,451
• − Management: −$2,451
• − Depreciation: −$2,036
• Taxable income: $18,382
• Est. tax owed @ 24.0%: −$4,412
• After-tax cash flow: $13,990/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 beautifully updated 3-bedroom, 2-bath manufactured home is move-in ready with new flooring, kitchens, and bathrooms. It offers a spacious and modern living space with vaulted ceilings and a welcoming community feel.

Value-add opportunities

• Both Painting exterior — Enhances curb appeal and value
• Both Landscaping — Improves curb appeal and value
• Both Add a small garden — Enhances curb appeal and value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior — Enhances curb appeal and value ↑
• Both Landscaping — Improves curb appeal and value ↑
• Both Add a small garden — Enhances curb appeal and 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 — Honeygo

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Honeygo, MD
• City population: 14,954
• Population (ZIP): 4,511

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: Predominantly White (68%)
• Race & ethnicity: White 68% Black 17% Two or more races 10% Hispanic / Latino 7% Asian 4%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 6% Portuguese 1% Slovak 1%
• Foreign-born: 10% · Canada, China, South Korea
• Languages at home: 85% English-only · Spanish 7% Tagalog/Filipino 1% Other Indo-European 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: ▼ -62.58%
• Current HPI: 244.7163
• Rent YoY: —
• Metro: —
• 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

-6.2% since first listed

7 events — show timeline

• 2026-04-10 Listed $74,999 BRIGHT MLS
• 2026-03-31 Listing Removed — BRIGHT MLS
• 2026-01-12 Relisted — BRIGHT MLS
• 2025-12-31 Listing Removed — BRIGHT MLS
• 2025-08-27 Relisted — BRIGHT MLS
• 2025-08-26 Listing Removed — BRIGHT MLS
• 2025-08-26 Listed $79,990 BRIGHT MLS