24 Kings Wharf Pl · Waldorf, MD 20602

$295,000

3 bd · 1.5 ba · 1,319 sqft · Townhouse public records · 15 Days on market

Built 1978 2,799 sqft lot Est $314k · 6% under $67/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 +13.6/30.0
• ARV discount +10.2/15.0
• DSCR +4.1/10.0
• 1% rule +3.7/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

If you've been looking for a townhome with real space, a fenced yard, and low monthly costs, this is it! 24 Kings Wharf is an end-unit townhome in Waldorf's Wakefield community, and the end-unit status matters more than people realize. You've got extra windows, more natural light, and a bigger lot than your neighbors. The layout works: a living room with room to breathe, a separate dining area, and a kitchen that doesn't make you feel like you're cooking in a closet. The main level also has a half bath, so guests aren't walking upstairs every time. Upstairs, all three bedrooms are spacious. The primary's got large closets and the spare bedrooms can fit all of your furniture. The fenced back

Key facts

• Half bath
• Fenced yard
• End-unit townhome

Tags

• FENCED YARD
• END-UNIT TOWNHOME
• EXTRA WINDOWS
• BIGGER LOT
• SEPARATE DINING AREA
• HALF BATH

Property features AI

Finance

• HOA & community: HOA includes common area maintenance and pool(s); HOA fee $800 annually

Exterior

• Parking: Parking lot
• Utilities: Public water; Public sewer; Electric service
• Home design: End of row townhouse; Construction not completed (as recorded); Fee simple ownership
• Construction: Frame construction; Shingle roof; Slab foundation
• Exterior features: Community pool

Interior

• Bedrooms: Three bedrooms on the upper level
• Flooring: Luxury vinyl plank; Carpet
• Bathrooms: One full bathroom on the upper level; One half bathroom on the main level
• Heating & cooling: Heat pump heating (electric); Central air conditioning (electric); Electric hot water
• Interior features: No basement; Living area measured per assessor

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $295k.

Deal economics

• At list price, monthly cash flow is $15 ($175/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 $258k (12.6% below list).
• Recommended offer: $258k (12.6% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 4.8% in Waldorf — 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 72/100 on livability (#141 in MD) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, housing A+; Watch: schools D+, crime D-, amenities F.
• Charles County Public Schools (suburban): math 13% / reading 29% proficiency, ranked #14 of 24 in MD (top 58%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 95 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,542 units permitted in Charles County in 2024 (516 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 $9k of value loss. Plan a longer hold.
• Charles County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $92k; list at $295k implies a 221% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $257,854 (12.6% below list)

Questions for the listing agent

1. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is D 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?
6. 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?
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: 0.87% ✗
• Cap rate: 6.35%
• Cash-on-cash: 0.21%
• DSCR: 1.01
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $313,922
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
36 Kings Wharf Pl	0.06mi	3/1.5	1,319 (0%)	3mo	$305,000	$231	95
33 Kings Wharf Pl	0.08mi	3/1.5	1,344 (+2%)	6mo	$320,000	$238	88
13 King James Pl	0.08mi	3/1.5	1,344 (+2%)	7mo	$312,000	$232	87
6 Keepsake Pl	0.07mi	3/1.5	1,344 (+2%)	11mo	$309,999	$231	84
10 King James Pl	0.10mi	3/1.5	1,344 (+2%)	13mo	$335,000	$249	81
3975 Wintergreen Pl	0.59mi	3/1.5	1,267 (-4%)	3mo	$280,000	$221	63
2581 Robinson Pl	0.42mi	3/1.5	1,188 (-10%)	1mo	$305,000	$257	63
2509 Robinson Pl	0.41mi	3/1.5	1,188 (-10%)	2mo	$280,000	$236	62
3411-A White Fir Ct	0.69mi	3/1.5	1,346 (+2%)	9mo	$339,900	$253	57
2703 Red Lion Pl	0.35mi	3/2.5	1,422 (+8%)	12mo	$350,000	$246	57
3415-B White Fir Ct	0.66mi	3/1.5	1,346 (+2%)	12mo	$339,900	$253	56
2819 Red Lion Pl	0.38mi	3/1.5	1,188 (-10%)	13mo	$242,000	$204	55

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: -16.0%
• Equity multiple: 0.43×
• Total profit: $-46,844
• Equity at exit: $43,985

10-year hold

• IRR: -7.6%
• Equity multiple: 0.52×
• Total profit: $-39,476
• Equity at exit: $25,506

Cash invested: $82,600 (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 20602

• Active inventory: 95
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,579 high
• Mortgage (P&I): −$1,547
• Tax from tax record: −$286 /mo · $3,426/yr
• Insurance: −$123
• HOA: −$67
• Vacancy / Maint / Mgmt: −$541
• Net cashflow: $15

Break-even live

Break-even rent $2,560

Max offer price $295,000

Occupancy floor 94%

Sensitivity live

Price	-10% $182	-5% $98	+0% $15	+5% $-69	+10% $-152
Rent	-10% $-189	-5% $-87	+0% $15	+5% $116	+10% $218
Rate	-1.0pp $163	-0.5pp $90	base $15	+0.5pp $-62	+1.0pp $-140

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
30 Keepsake Pl Waldorf, MD	3.0	1.5	1344	$2,000	$1.49	25d	1	0.06mi
2324 Kent Ct Waldorf, MD	3.0	2.5	1614	$2,900	$1.80	5d	1	0.17mi
2619 Rooks Head Pl Waldorf, MD	3.0	1.5	1188	$2,500	$2.10	45d	1	0.38mi
3454 Tamarack Ct Waldorf, MD	4.0	2.0	1368	$2,900	$2.12	45d	1	0.55mi
2094 Chapelside Ct Waldorf, MD	3.0	2.0	1432	$2,900	$2.03	45d	1	0.60mi
3975 Wintergreen Pl Waldorf, MD	3.0	2.0	1240	$2,400	$1.94	25d	1	0.61mi
3053 Heathcote Rd Waldorf, MD	3.0	1.5	1034	$2,300	$2.22	45d	1	0.87mi
3125 Heathcote Rd Waldorf, MD	3.0	1.0	1034	$1,995	$1.93	45d	1	0.88mi
12344 Sweetbriar Pl Waldorf, MD	3.0	3.0	1776	$2,700	$1.52	45d	1	0.90mi
3870 Gateview Pl Waldorf, MD	3.0	2.5	1672	$2,495	$1.49	21d	1	0.91mi
4503 Ruston Pl Unit 43M Waldorf, MD	3.0	1.5	1076	$2,300	$2.14	12d	1	0.98mi
4703 Rookewood Pl Unit 28K Waldorf, MD	3.0	2.5	1350	$2,500	$1.85	45d	1	0.99mi
2708 Grindall Ct Waldorf, MD	3.0	2.0	1506	$2,650	$1.76	14d	1	1.12mi
1718 Brightwell Ct Waldorf, MD	3.0	1.5	1056	$2,195	$2.08	23d	1	1.14mi
1537 Bryan Ct Waldorf, MD	3.0	2.0	1642	$2,600	$1.58	45d	1	1.16mi
3379 Justice Ct Waldorf, MD	3.0	1.5	1085	$1,975	$1.82	6d	1	1.23mi
1015 Copperfield Ct Waldorf, MD	3.0	2.5	1380	$2,600	$1.88	23d	1	1.49mi

HOA detail

• Monthly dues: $67 · $804/yr

Listing history 10 events

1. 2026-06-21
   days on market $295,000 Active 15 DOM
2. 2026-06-18
   days on market $295,000 Active 12 DOM
3. 2026-06-17
   days on market $295,000 Active 11 DOM
4. 2026-06-16
   days on market $295,000 Active 10 DOM
5. 2026-06-15
   days on market $295,000 Active 9 DOM
6. 2026-06-13
   days on market $295,000 Active 7 DOM
7. 2026-06-09
   days on market $295,000 Active 3 DOM
8. 2026-06-08
   days on market $295,000 Active 2 DOM
9. 2026-06-07
   remarks 699-char remark
10. 2026-06-07
    listed $295,000 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: $3,426 · $286/mo
• Projected year-2 tax: $3,426 · $286/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 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,942
• − Mortgage interest: −$16,525
• − Property taxes: −$3,426
• − Insurance: −$1,475
• − Repairs & maintenance: −$2,475
• − Management: −$2,475
• − HOA: −$804
• − Depreciation: −$8,582
• Taxable loss: −$4,820
• Est. tax savings @ 24.0%: +$1,157
• After-tax cash flow: $1,332/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: Charles County Public Schools
• NCES district ID: 2400270
• Math proficiency: 13% ▼ -19.00%
• Reading proficiency: 29% ▼ -13.00%
• Median HH income: $90,389
• Composite: 22.54/100
• National rank: #8087
• State rank: #14 of 24 in MD

Livability — Waldorf

• Score: 72/100
• State rank: #141
• US rank: #6083

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waldorf, MD
• County: Charles County · 103,527 people
• City population: 103,527
• Metro: Washington-Arlington-Alexandria, DC-VA-MD-WV
• Population (ZIP): 28,331
• Household income: $107,360
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 867.0

Population outlook (Charles County) Hauer SSP2

• Today (2025): 176,616 people
• By 2030: 186,471 · +5.6%
• By 2040: 206,472 · +16.9%
• By 2050: 224,883 · +27.3%
• By 2075: 272,101 · +54.1%
• By 2100: 303,564 · +71.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 62% White 19% Two or more races 11% Hispanic / Latino 9% Asian 2%
• Common ancestry: Lithuanian 1% Iranian 1% Italian 1%
• Foreign-born: 11% · Canada, South Korea, Jamaica
• Languages at home: 88% English-only · Spanish 6% Other Indo-European 1% Tagalog/Filipino 1%

Political lean MEDSL · Charles

• 2024 margin: Solid D (+40.7) · D 69.2% · R 28.5% · Other 2.2%
• 2008→2024 swing: +15.2pp toward D · 2008: 25.5pp · 2024: 40.7pp
• All cycles: 2024: D+40.7 2020: D+40.9 2016: D+30.2 2012: D+31.3 2008: D+25.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -261.39%
• Current HPI: 267.3445
• Rent YoY: —
• 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

+293.9% since first listed

3 events — show timeline

• 2026-06-06 Listed $295,000 BRIGHT MLS
• 1992-06-25 Sold (Public Records) $92,000 Public Records
• 1989-07-21 Sold (Public Records) $74,900 Public Records

Property tax history

+3.4%/yr

Latest (2025): $3,426 · +5.9% YoY. Source: county tax records.