7959 Riggs Rd Unit 7959-1

Langley Park, MD 20783

$75,000C-

2 bd · 1.0 ba · 788 sqft · Built 1968 · Condo · Active · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,821/mo
• Mortgage (P&I): −$393
• Tax + insurance: −$125
• HOA: −$847
• Vac / Maint / Mgmt: −$382
• Net cashflow: $74/mo
• Annual: $883/yr
• Cap rate: 7.47%
• Cash-on-cash: 4.20%
• DSCR: 1.19
• 1% rule: 2.43%
• Cash to close: $21,000

Investor read

• This is a 2-bed/1.0-bath condo listed at $75k. Condition is rated fair.
• At list price, monthly cash flow is $74 ($883/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#110 in MD, #4,438 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, health & safety A+; Watch: schools F, crime 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.
• Watch-outs: HOA is 47% of rent.
• Market conditions: Rents rising (+1.7%/yr); 92 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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).
• Prince George's County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 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.
• Cap rate 7.5% vs local median 4.2% in Langley Park — 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.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: Painting — The paint is peeling and there are visible stains and marks on the interior walls.
• Major: Landscaping — The landscaping is overgrown and in poor condition, which negatively impacts the property's curb appeal.