1918 Chipper Dr · Edgewood, MD 21040

$78,000

4 bd · 2.0 ba · 1,600 sqft · Other · 13 Days on market

Built 2009 Fair condition

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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
• Rent growth +3.7/5.0
• Livability +3.7/5.0
• Schools +2.9/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

2009 1600 sq ft 4 bedroom, 2 full bath w/ jacuzzi tub in master bath, electric fireplace, laundry room, drywall throughout, 10x10 shed, concrete patio, large private lot, must be approved by park, lot rent is $727 per month

Key facts

• Laundry room
• Concrete patio
• Large private lot

Tags

• JACUZZI TUB
• ELECTRIC FIREPLACE
• LAUNDRY ROOM
• CONCRETE PATIO
• LARGE PRIVATE LOT
• 10X10 SHED

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $78k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $982 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $78k).
• Cap rate 21.4% vs local median 5.5% in Edgewood — 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 73/100 on livability (#118 in MD, #4,991 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: amenities D, crime F.
• Harford County Public Schools (suburban): math 22% / reading 39% proficiency, ranked #9 of 24 in MD (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Old Post Road Elementary (math 7% / reading 9%, grade F, #674 of 860 statewide, top 79%, 842 students, 80% FRL); Edgewood Middle (math 7% / reading 31%, grade F, #155 of 225 statewide, top 70%, 999 students, 72% FRL); Edgewood High (math 43% / reading 54%, grade D, #111 of 222 statewide, top 50%, 1,415 students, 62% FRL) — zoned schools average 71% FRL vs 24% district-wide (47 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.9%/yr); 95 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 803 units permitted in Harford County in 2024 (26 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $539 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.9% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $78,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 2.47% ✓
• Cap rate: 21.39%
• Cash-on-cash: 53.93%
• DSCR: 3.40
• GRM: 3.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.92% rent growth · sell at horizon

5-year hold

• IRR: 54.2%
• Equity multiple: 3.46×
• Total profit: $53,694
• Equity at exit: $11,630

10-year hold

• IRR: 60.1%
• Equity multiple: 7.57×
• Total profit: $143,543
• Equity at exit: $6,744

Cash invested: $21,840 (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 21040

• Home prices YoY: -29.4%
• Rents YoY: 4.9%
• Active inventory: 95
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,925 high
• Mortgage (P&I): −$409
• Tax est. 1.5%: −$98 /mo · $1,170/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $982

Break-even live

Break-even rent $682

Max offer price $78,000

Occupancy floor 44%

Sensitivity live

Price	-10% $1,035	-5% $1,008	+0% $982	+5% $955	+10% $928
Rent	-10% $829	-5% $906	+0% $982	+5% $1,058	+10% $1,134
Rate	-1.0pp $1,021	-0.5pp $1,001	base $982	+0.5pp $961	+1.0pp $941

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: $19,500
• Closing costs: $2,340
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1857 Simons Ct Edgewood, MD	3.0	1.5	1240	$1,700	$1.37	45d	1	0.48mi
807 Windstream Way Unit 807-C Edgewood, MD	3.0	1.5	1260	$1,800	$1.43	4d	1	0.84mi
805 Windstream Way Unit 805B Edgewood, MD	3.0	1.5	1260	$1,450	$1.15	23d	1	0.85mi
807 W Spring Meadow Ct Edgewood, MD	3.0	1.5	1400	$1,850	$1.32	45d	1	0.92mi
802 Kingston Ct Edgewood, MD	1.0–3.0	1.0–1.5	1007	$1,883	$1.87	0d	16	0.99mi
1501 Saint Christopher Ct Edgewood, MD	4.0	2.0	1224	$2,200	$1.80	14d	1	1.01mi
700 Saint Peters Ct Edgewood, MD	3.0	1.5	1524	$1,200	$0.79	0d	1	1.04mi
705 Bayberry Rd Edgewood, MD	3.0	1.5	1657	$2,600	$1.57	19d	1	1.07mi
570 Meadowood Dr Edgewood, MD	3.0	1.5	1080	$1,350	$1.25	0d	1	1.12mi
1523 Charlestown Dr Edgewood, MD	3.0	1.5	1240	$1,595	$1.29	45d	1	1.39mi

Listing history 10 events

1. 2026-06-21
   days on market $78,000 Active 13 DOM
2. 2026-06-18
   days on market $78,000 Active 10 DOM
3. 2026-06-17
   days on market $78,000 Active 9 DOM
4. 2026-06-16
   days on market $78,000 Active 8 DOM
5. 2026-06-15
   days on market $78,000 Active 7 DOM
6. 2026-06-13
   days on market $78,000 Active 5 DOM
7. 2026-06-09
   remarks 223-char remark
8. 2026-06-09
   listing id $78,000 Active 1 DOM
9. 2026-06-08
   remarks 163-char remark
10. 2026-06-08
    listed $78,000 Active 1 DOM

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

Taxation est. · year 1

• Rental income: $23,097
• − Mortgage interest: −$4,369
• − Property taxes: −$1,170
• − Insurance: −$390
• − Repairs & maintenance: −$1,848
• − Management: −$1,848
• − Depreciation: −$2,269
• Taxable income: $11,203
• Est. tax owed @ 24.0%: −$2,689
• After-tax cash flow: $9,090/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 · 2 photos

Fair 45/100 Moderate rehab

This property requires significant repairs and maintenance, including major work on the exterior, roof, and landscaping. Painting and landscaping improvements can significantly boost its value.

Repairs flagged

• Major siding — Significant wear and tear
• Major roof — No visible damage, but the satellite image shows a large footprint
• Major flooring — No visible flooring, but the satellite image shows a large footprint
• Major interior walls/paint — No visible interior, but the satellite image shows a large footprint
• Major HVAC/mechanicals — No visible HVAC/mechanicals, but the satellite image shows a large footprint
• Major landscaping — No visible landscaping, but the satellite image shows a large footprint

Value-add opportunities

• Both painting — Fresh paint can improve curb appeal and interior aesthetics
• Both landscaping — Well-maintained landscaping can enhance curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Significant wear and tear	Major	$15,000–50,000
roof · No visible damage, but the satellite image shows a large footprint	Major	$15,000–50,000
flooring · No visible flooring, but the satellite image shows a large footprint	Major	$15,000–50,000
interior walls/paint · No visible interior, but the satellite image shows a large footprint	Major	$15,000–50,000
HVAC/mechanicals · No visible HVAC/mechanicals, but the satellite image shows a large footprint	Major	$15,000–50,000
landscaping · No visible landscaping, but the satellite image shows a large footprint	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both painting — Fresh paint can improve curb appeal and interior aesthetics ↑
• Both landscaping — Well-maintained landscaping can enhance curb appeal and property 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: Harford County Public Schools
• NCES district ID: 2400390
• Math proficiency: 22% ▼ -23.00%
• Reading proficiency: 39% ▼ -12.00%
• Median HH income: $79,569
• Composite: 29.38/100
• National rank: #6527
• State rank: #9 of 24 in MD

Livability — Edgewood

• Score: 73/100
• State rank: #118
• US rank: #4991

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Edgewood, MD
• County: Harford County · 198,512 people
• City population: 24,960
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 24,960
• Household income: $81,704
• Rent vs Own: 28.9% rent · 71.1% own
• Severe rent burden: 859.0

Population outlook (Harford County) Hauer SSP2

• Today (2025): 262,292 people
• By 2030: 266,437 · +1.6%
• By 2040: 269,954 · +2.9%
• By 2050: 265,659 · +1.3%
• By 2075: 252,886 · -3.6%
• By 2100: 224,014 · -14.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: Black 45% White 36% Two or more races 11% Hispanic / Latino 10% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Romanian 4% Slovak 1% Italian 1%
• Foreign-born: 8% · Canada, South Korea
• Languages at home: 89% English-only · Spanish 5% Russian/Polish/Slavic 2% German/W. Germanic 1%

Political lean MEDSL · Harford

• 2024 margin: R (+13.8) · D 41.9% · R 55.7% · Other 2.4%
• 2008→2024 swing: +5.0pp toward D · 2008: -18.8pp · 2024: -13.8pp
• All cycles: 2024: R+13.8 2020: R+12.0 2016: R+24.5 2012: R+19.5 2008: R+18.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -106.14%
• Current HPI: 254.2305
• Rent YoY: ▲ 4.92%
• Metro: Baltimore-Columbia-Towson, MD
• 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

1 event — show timeline

• 2026-06-08 Listed $78,000 FSBO.com