10131 Prince Pl Unit 204-12B · Largo, MD 20774

$101,764

2 bd · 2.0 ba · 1,082 sqft · Condo · 30 Days on market

Built 1977 $692/mo HOA · 33% of rent

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Why this score? — see what drove the C+ 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 +26.0/30.0
• 1% rule +10.0/10.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 10131 Prince Place #204 at Treetop Condominium! This small 2-bedroom condominium offers a great opportunity for buyers looking to renovate and build equity. The unit is ideal for buyers ready to take on a project. The layout includes two bedrooms, two full bathrooms, and a combined living and dining area. With the right vision and improvements, this condo has the potential to be transformed into a comfortable residence or a solid rental property. Sold as-is. No repairs will be made by the seller. Contingent on third party approval. Priced accordingly to reflect condition. Perfect for those seeking a value-add opportunity in today’s market. Please contact the listing agent d

Key facts

• $692 HOA
• Built 1977
• Listed 30 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $102k.

Deal economics

• At list price, monthly cash flow is $253 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $102k).
• Recommended offer: $100k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 4.2% in Largo — 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 74/100 on livability (#115 in MD, #4,768 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, housing A+; Watch: crime D+, cost of living D+, amenities 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.
• Market conditions: Rents rising fast (+4.5%/yr); 329 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,481 units permitted in Prince George's County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $704 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Prince George's County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 4.5% rent growth), your $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($100k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 33% of rent.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $100,237 (1.5% below list)

Questions for the listing agent

1. Built in 1977 — 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. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.05% ✓
• Cap rate: 9.28%
• Cash-on-cash: 10.67%
• DSCR: 1.47
• GRM: 4.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.49% rent growth · sell at horizon

5-year hold

• IRR: 2.9%
• Equity multiple: 1.12×
• Total profit: $3,279
• Equity at exit: $15,173

10-year hold

• IRR: 15.0%
• Equity multiple: 2.37×
• Total profit: $38,921
• Equity at exit: $8,799

Cash invested: $28,494 (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 20774

• Rents YoY: 4.5%
• Active inventory: 329
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $2,087 high
• Mortgage (P&I): −$534
• Tax est. 1.5%: −$127 /mo · $1,526/yr
• Insurance: −$42
• HOA: −$692
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $253

Break-even live

Break-even rent $1,766

Max offer price $101,764

Occupancy floor 83%

Sensitivity live

Price	-10% $324	-5% $289	+0% $253	+5% $218	+10% $183
Rent	-10% $89	-5% $171	+0% $253	+5% $336	+10% $418
Rate	-1.0pp $305	-0.5pp $279	base $253	+0.5pp $227	+1.0pp $200

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: $25,441
• Closing costs: $3,053
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10133 Prince Pl Unit 303-12C Largo, MD	1.0	1.0	787	$1,775	$2.26	44d	1	0.01mi
10115 Prince Pl Unit 401-2A Upper Marlboro, MD	2.0	2.0	1082	$2,330	$2.15	44d	1	0.07mi
10244 Prince Pl #204 Largo, MD	1.0	1.0	889	$1,600	$1.80	44d	1	0.09mi
10122 Campus Way S Unit 202-1A Upper Marlboro, MD	2.0	2.0	1082	$2,100	$1.94	13d	1	0.09mi
10239 Prince Pl Unit 26-304 Upper Marlboro, MD	1.0	1.0	840	$1,750	$2.08	44d	1	0.09mi
10106 Campus Way S Unit 102-3B Largo, MD	1.0	1.0	787	$1,900	$2.41	19d	1	0.12mi
10202 Prince Pl Unit 204 Largo, MD	1.0	1.0	840	$1,612	$1.92	3d	1	0.13mi
10246 Prince Pl Unit 22-T4 Largo, MD	2.0	2.0	1071	$1,850	$1.73	6d	1	0.15mi
10246 Prince Pl Apt 107 Largo, MD	3.0	2.0	1289	$2,300	$1.78	0d	1	0.15mi
150 Steeplechase Way Largo, MD	1.0–2.0	1.0–2.0	823	$2,305	$2.80	0d	14	0.15mi
10250 Prince Pl Largo, MD	1.0	1.0	839	$1,500	$1.79	19d	1	0.19mi
10244 Prince Pl Unit 21-103 Upper Marlboro, MD	2.0	2.0	1071	$1,950	$1.82	25d	1	0.19mi
10244 Prince Pl Upper Marlboro, MD	2.0	2.0	1000	$1,950	$1.95	0d	1	0.19mi
56 Cable Hollow Way Unit 38-1 Upper Marlboro, MD	2.0	1.0	912	$2,250	$2.47	13d	1	0.24mi
67 S Harry Truman Dr Largo, MD	1.0–3.0	1.0–2.0	1015	$1,932	$1.90	0d	47	0.32mi
9 Cable Hollow Way Largo, MD	2.0	1.5	1248	$2,350	$1.88	44d	1	0.35mi
97 Capital Ct Largo, MD	2.0	1.0–2.0	904	$2,760	$3.05	0d	19	0.43mi
10477 Campus Way S Upper Marlboro, MD	2.0	2.5	1420	$2,950	$2.08	25d	1	0.52mi
9811 Lake Pointe Ct #203 Upper Marlboro, MD	2.0	2.0	1135	$2,500	$2.20	13d	1	0.60mi
9720 Lake Pointe Ct #101 Upper Marlboro, MD	2.0	2.0	1067	$2,250	$2.11	44d	1	0.63mi
9708 Lake Pointe Ct #302 Upper Marlboro, MD	2.0	2.0	1074	$2,300	$2.14	44d	1	0.68mi
8831 Lottsford Rd Upper Marlboro, MD	1.0–2.0	1.0–2.0	1075	$2,808	$2.61	0d	21	0.68mi
214 Castleton Ter Upper Marlboro, MD	3.0	2.5	1478	$2,650	$1.79	44d	1	0.71mi
8911 Town Center Cir Upper Marlboro, MD	1.0	1.0	704	$1,875	$2.66	25d	1	0.73mi
10703 Campus Way S Upper Marlboro, MD	3.0	3.5	1376	$2,925	$2.13	0d	1	0.74mi
702 Anoosh Ct Upper Marlboro, MD	3.0	2.5	1452	$3,000	$2.07	44d	1	0.74mi
601 S Harry Truman Dr Largo, MD	1.0–2.0	1.0–2.0	1009	$2,765	$2.74	2d	16	0.75mi
8961 Town Center Cir Unit 1-310 Upper Marlboro, MD	2.0	2.0	968	$2,300	$2.38	6d	1	0.77mi
9420 Grand Blvd Upper Marlboro, MD	2.0	1.0–2.0	876	$2,814	$3.21	0d	90	0.84mi
9701 Summit Cir Upper Marlboro, MD	1.0–3.0	1.0–2.0	1107	$2,360	$2.13	0d	42	0.84mi
1007 Fallcrest Ct Unit 4-104 Bowie, MD	2.0	2.0	858	$2,300	$2.68	44d	1	0.89mi
10531 Beacon Ridge Dr Unit 13-101 Bowie, MD	2.0	2.0	858	$2,250	$2.62	13d	1	0.91mi
10403 Beacon Ridge Dr Bowie, MD	2.0	2.0	865	$2,300	$2.66	44d	1	0.92mi
1005 Summerglenn Ct Unit 7-103 Bowie, MD	2.0	2.0	858	$2,100	$2.45	19d	1	0.95mi
11109 Joyceton Dr Upper Marlboro, MD	1.0	3.0	1472	$650	$0.44	44d	1	1.07mi
11215 Joyceton Dr Upper Marlboro, MD	3.0	1.5	1120	$2,400	$2.14	44d	1	1.10mi
9300 Lottsford Rd Upper Marlboro, MD	1.0–3.0	1.0–2.0	1084	$2,556	$2.36	0d	22	1.11mi
11240 Kettering Pl Upper Marlboro, MD	2.0	1.5	1160	$2,200	$1.90	19d	1	1.22mi
11425 Honeysuckle Ct Unit 3-1 Upper Marlboro, MD	2.0	2.0	1040	$2,125	$2.04	13d	1	1.29mi
11433 Abbottswood Ct Upper Marlboro, MD	3.0	1.5	1137	$2,100	$1.85	13d	1	1.33mi

HOA detail condo

• Monthly dues: $692 · $8,304/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-02-09
   status Pending
2. 2026-02-05
   historical
3. 2026-01-06
   listed $101,764 Active

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

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 ≥102°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 20% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,043
• − Mortgage interest: −$5,700
• − Property taxes: −$1,526
• − Insurance: −$509
• − Repairs & maintenance: −$2,003
• − Management: −$2,003
• − HOA: −$8,304
• − Depreciation: −$2,960
• Taxable income: $2,036
• Est. tax owed @ 24.0%: −$489
• After-tax cash flow: $2,552/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: Prince George'S County Public Schools
• NCES district ID: 2400510
• Math proficiency: 8% ▼ -11.00%
• Reading proficiency: 24% ▼ -9.00%
• Median HH income: $73,967
• Composite: 16.82/100
• National rank: #9151
• State rank: #21 of 24 in MD

Livability — Largo

• Score: 74/100
• State rank: #115
• US rank: #4768

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Largo, MD
• County: Prince Georges County · 919,866 people
• Metro: Washington-Arlington-Alexandria, DC-VA-MD-WV
• Population (ZIP): 51,816
• Household income: $128,259
• Rent vs Own: 24.4% rent · 75.6% own
• Severe rent burden: 773.0

Population outlook (Prince George's County) Hauer SSP2

• Today (2025): 1,005,426 people
• By 2030: 1,048,416 · +4.3%
• By 2040: 1,123,425 · +11.7%
• By 2050: 1,183,220 · +17.7%
• By 2075: 1,306,202 · +29.9%
• By 2100: 1,408,179 · +40.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (85%)
• Race & ethnicity: Black 85% Two or more races 5% White 4% Hispanic / Latino 4% Asian 2%
• Common ancestry: Lithuanian 1% Hispanic 1%
• Foreign-born: 16% · Canada, United Kingdom
• Languages at home: 86% English-only · Spanish 4% French/Haitian/Cajun 3% Tagalog/Filipino 1%

Political lean MEDSL · Prince George's

• 2024 margin: Solid D (+75.2) · D 86.3% · R 11.2% · Other 2.5%
• 2008→2024 swing: -3.3pp toward R · 2008: 78.5pp · 2024: 75.2pp
• All cycles: 2024: D+75.2 2020: D+80.5 2016: D+81.0 2012: D+80.9 2008: D+78.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -277.06%
• Current HPI: 264.2372
• Rent YoY: ▲ 4.49%
• 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

3 events — show timeline

• 2026-02-09 Pending — BRIGHT MLS
• 2026-02-05 Listing Removed — BRIGHT MLS
• 2026-01-06 Listed $101,764 BRIGHT MLS