15708 Dorset Rd #203 · Laurel, MD 20707

$215,000

3 bd · 2.0 ba · 1,230 sqft · Condo · 43 Days on market

Built 1982 $592/mo HOA · 25% of rent ↓ 17% since listing

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Why this score? — see what drove the F 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 +8.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• Livability +4.2/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• DSCR +2.0/10.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Light-filled, move-in ready 3BR/2BA condo with parking! Step into a bright, modern home with an open, ultra-functional layout and great privacy between bedrooms. Expansive windows bathe the space in natural light, while rich hardwood floors add warmth and style. Enjoy year-round comfort with central air, a well-maintained building, and thoughtful updates throughout. Highlights: Spacious living/dining area perfect for relaxing or entertaining Large windows and excellent natural light Hardwood floors and neutral, modern finishes Central A/C and efficient floor plan with separated bedrooms One assigned parking space + plentiful guest parking Professionally managed, well-kept community Unbeatable convenience with quick access to shopping, dining, and major commuter routes—everything you need is minutes away. This is the one you’ve been waiting for. Schedule your private tour today!

Key facts

• Move-in ready
• Expansive windows
• Open layout

Tags

• MOVE-IN READY
• OPEN LAYOUT
• EXPANSIVE WINDOWS
• HARDWOOD FLOORS
• CENTRAL AIR
• ASSIGNED PARKING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $215k.

Deal economics

• At list price, monthly cash flow is $-224 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $183k (15.1% below list).
• Meets the 1% rule at list price ($2k rent vs $215k).
• Recommended offer: $183k (15.1% below list) — sets the bar for cash-flow.
• Cap rate 5.0% vs local median 3.4% in Laurel — 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 83/100 on livability (#26 in MD, #945 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: crime F, cost of living D-.
• 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: Scotchtown Hills Elementary (math 4% / reading 19%, grade F, #567 of 860 statewide, top 67%, 612 students, 76% FRL); Dwight D. Eisenhower Middle (math 3% / reading 20%, grade F, #205 of 225 statewide, top 92%, 1,084 students, 84% FRL); Laurel High (math 15% / reading 39%, grade F, #159 of 222 statewide, top 72%, 2,134 students, 69% FRL) — zoned schools average 76% FRL vs 53% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.4%/yr); 149 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($209k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.
• 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.

Recommended offer $182,521 (15.1% below list)

Questions for the listing agent

1. 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?
2. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.09% ✓
• Cap rate: 5.04%
• Cash-on-cash: -4.47%
• DSCR: 0.80
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.38% rent growth · sell at horizon

5-year hold

• IRR: -26.3%
• Equity multiple: 0.13×
• Total profit: $-52,499
• Equity at exit: $32,057

10-year hold

• IRR: -32.5%
• Equity multiple: -0.29×
• Total profit: $-77,449
• Equity at exit: $18,589

Cash invested: $60,200 (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 20707

• Rents YoY: 1.4%
• Active inventory: 149
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $2,346 high
• Mortgage (P&I): −$1,127
• Tax est. 1.5%: −$269 /mo · $3,225/yr
• Insurance: −$90
• HOA: −$592
• Vacancy / Maint / Mgmt: −$493
• Net cashflow: $-224

Break-even live

Break-even rent $2,630

Max offer price $182,521

Occupancy floor —

Sensitivity live

Price	-10% $-76	-5% $-150	+0% $-224	+5% $-299	+10% $-373
Rent	-10% $-410	-5% $-317	+0% $-224	+5% $-132	+10% $-39
Rate	-1.0pp $-116	-0.5pp $-170	base $-224	+0.5pp $-280	+1.0pp $-337

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15712 Dorset Rd Unit T3 Laurel, MD	3.0	2.0	1211	$2,300	$1.90	45d	1	0.10mi
1216 Westview Ter Laurel, MD	2.0	1.5	850	$1,995	$2.35	23d	1	0.78mi
8200 Gorman Ave Laurel, MD	2.0	1.0	939	$1,835	$1.95	1d	6	0.78mi
903 Montrose Ave Laurel, MD	3.0	1.0	920	$2,200	$2.39	45d	1	1.07mi
10132 High Ridge Rd Laurel, MD	2.0	1.0	896	$2,295	$2.56	0d	1	1.12mi
8301 Ashford Blvd Laurel, MD	1.0–3.0	1.0–2.0	980	$2,559	$2.61	1d	8	1.16mi
801 8th St Laurel, MD	1.0–2.0	1.0	765	$1,844	$2.41	1d	10	1.18mi
14800 4th St Laurel, MD	2.0	1.0	725	$1,751	$2.42	0d	20	1.25mi
14324 S Shore Ct Laurel, MD	2.0	1.5	1280	$2,500	$1.95	26d	1	1.28mi
14725 4th St Laurel, MD	1.0–2.0	1.0–2.0	1034	$2,880	$2.78	1d	23	1.33mi
14233 Oakpointe Dr Laurel, MD	3.0	3.5	1400	$2,495	$1.78	7d	1	1.33mi
14239 Jib St #11 Laurel, MD	2.0	2.0	1060	$2,200	$2.08	26d	1	1.39mi
14224 Jib St Unit 6142 Laurel, MD	2.0	2.0	990	$2,300	$2.32	45d	1	1.40mi
9203 Redbridge Ct Laurel, MD	3.0	3.5	1460	$2,600	$1.78	45d	1	1.45mi
14053 Vista Dr #146 Laurel, MD	2.0	1.0	719	$2,000	$2.78	45d	1	1.45mi
8220 Marymont Dr Laurel, MD	1.0–2.0	1.0–2.0	891	$2,454	$2.75	0d	14	1.46mi
7904 Crows Nest Ct #12 Laurel, MD	2.0	2.0	1000	$2,200	$2.20	14d	1	1.49mi
321 Thomas Dr Laurel, MD	1.0–2.0	1.0	703	$1,775	$2.52	22d	4	1.49mi
604 4th St Laurel, MD	2.0	1.0	952	$2,100	$2.21	7d	1	1.50mi

HOA detail condo

• Monthly dues: $592 · $7,104/yr
• Likely covers: parking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-04-13
   listed $215,000 Active 902-char remark

   Show marketing remark (902 chars)

   Light-filled, move-in ready 3BR/2BA condo with parking! Step into a bright, modern home with an open, ultra-functional layout and great privacy between bedrooms. Expansive windows bathe the space in natural light, while rich hardwood floors add warmth and style. Enjoy year-round comfort with central air, a well-maintained building, and thoughtful updates throughout. Highlights: Spacious living/dining area perfect for relaxing or entertaining Large windows and excellent natural light Hardwood floors and neutral, modern finishes Central A/C and efficient floor plan with separated bedrooms One assigned parking space + plentiful guest parking Professionally managed, well-kept community Unbeatable convenience with quick access to shopping, dining, and major commuter routes—everything you need is minutes away. This is the one you’ve been waiting for. Schedule your private tour today!

2. 2026-03-03
   historical
3. 2025-11-24
   price $225,000
4. 2025-08-30
   price $234,999
5. 2025-05-22
   price $249,999
6. 2025-04-11
   listed $260,000 Active
7. 2025-02-28
   historical

ⓘ 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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 16% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,152
• − Mortgage interest: −$12,043
• − Property taxes: −$3,225
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,252
• − Management: −$2,252
• − HOA: −$7,104
• − Depreciation: −$6,255
• Taxable loss: −$6,054
• Est. tax savings @ 24.0%: +$1,453
• After-tax cash flow: $-1,240/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 — Laurel

• Score: 83/100
• State rank: #26
• US rank: #945

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Laurel, MD
• County: Prince Georges County · 919,866 people
• City population: 121,106
• Metro: Washington-Arlington-Alexandria, DC-VA-MD-WV
• Population (ZIP): 37,278
• Household income: $107,706
• Rent vs Own: 45.1% rent · 54.9% own
• Severe rent burden: 1231.0

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: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: Black 45% Hispanic / Latino 20% White 17% Two or more races 11% Asian 10% Native American 2%
• Hispanic origin (detail): Mexican 2% Cuban 1%
• Common ancestry: Romanian 1% Slovak 1% Lithuanian 1%
• Foreign-born: 31% · Canada, South Korea, Vietnam
• Languages at home: 65% English-only · Spanish 17% Korean 3% Other Indo-European 2%

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: ▼ -348.04%
• Current HPI: 277.2529
• Rent YoY: ▲ 1.38%
• 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

-17.3% since first listed

7 events — show timeline

• 2026-04-13 Listed $215,000 BRIGHT MLS
• 2026-03-03 Listing Removed — BRIGHT MLS
• 2025-11-24 Price Changed $225,000 BRIGHT MLS
• 2025-08-30 Price Changed $234,999 BRIGHT MLS
• 2025-05-22 Price Changed $249,999 BRIGHT MLS
• 2025-04-11 Listed $260,000 BRIGHT MLS
• 2025-02-28 Coming Soon — BRIGHT MLS