515 Old Home Rd · Overlea, MD 21206

$65,000

2 bd · 1.0 ba · 778 sqft · Townhouse public records · 9 Days on market

Built 1949 4,960 sqft lot ↓ 2% since listing

---

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
• Livability +4.0/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Investor special. Fire-damaged property being sold strictly AS IS. Cash only. No financing, and no contingencies. Originally a 2-bedroom, 1-bath home. Buyer responsible for verifying all property condition, utilities, permits, zoning, and intended use. Seller prefers Brilliant Title for settlement.

Key facts

• Built 1949
• Listed 9 days

Property features AI

Finance

• Financial info: Land assessed at $50,000

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Semi-detached property; Ownership: Fee simple
• Construction: Shingle roof; Foundation: Other; Other structures above grade and below grade; Finished above-grade area source: Assessor; Finished above-grade area: 778; Total below-grade area: 778; Below-grade unfinished area: 778
• Exterior features: No tidal water

Interior

• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level; 1 full bathroom total
• Interior features: Basement with interior access and outside entrance; Finished living area source: Assessor

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $65k.

Deal economics

• At list price, monthly cash flow is $559 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Cap rate 17.6% vs local median 5.4% in Overlea — 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 81/100 on livability (#38 in MD, #1,418 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime F.
• Baltimore County Public Schools (suburban): math 15% / reading 34% proficiency, ranked #11 of 24 in MD (top 46%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+4.4%/yr); 173 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,511 units permitted in Baltimore County in 2024 (643 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Baltimore County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 4.4% rent growth), your $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 2y ago 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: property tax is 3.7% of price; flood insurance adds $56/mo; built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $65,000

Questions for the listing agent

1. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 2.31% ✓
• Cap rate: 17.65%
• Cash-on-cash: 40.55%
• DSCR: 2.80
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $199,946
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
400 Dale Ave	0.35mi	2/1.0	778 (0%)	7mo	$200,000	$257	78
602 Dale Ave	0.17mi	2/1.0	790 (+2%)	17mo	$193,940	$245	75
4713 Glenarm Ave	0.69mi	2/1.0	813 (+4%)	18mo	$160,000	$197	45
5911 Plainfield Ave	0.69mi	3/2.0 (+1)	778 (0%)	23mo	$225,000	$289	40

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 · 4.43% rent growth · sell at horizon

5-year hold

• IRR: 34.7%
• Equity multiple: 2.51×
• Total profit: $27,419
• Equity at exit: $9,692

10-year hold

• IRR: 42.5%
• Equity multiple: 5.37×
• Total profit: $79,540
• Equity at exit: $5,620

Cash invested: $18,200 (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 21206

• Rents YoY: 4.4%
• Active inventory: 173
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,500 high
• Mortgage (P&I): −$341
• Tax from tax record: −$202 /mo · $2,426/yr
• Insurance: −$27
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $559

Break-even live

Break-even rent $792

Max offer price $65,000

Occupancy floor 58%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3807 Fleetwood Ave Unit 2 Baltimore, MD	3.0	1.0	937	$1,550	$1.65	4d	1	0.72mi
3807 Fleetwood Ave Unit 3 Baltimore, MD	1.0	1.0	797	$1,165	$1.46	43d	1	0.72mi
3807 Fleetwood Ave Unit 1 Baltimore, MD	2.0	1.0	969	$1,490	$1.54	4d	1	0.72mi
5738 Cedonia Ave Baltimore, MD	2.0	1.0	797	$1,385	$1.74	2d	3	0.86mi
6410 Walther Ave Baltimore, MD	2.0	1.0–2.0	1195	$1,995	$1.67	43d	7	1.00mi
35-C Mopec Cir Nottingham, MD	2.0	1.0	1100	$1,445	$1.31	2d	10	1.00mi
5906 Benton Heights Ave Baltimore, MD	2.0	1.0	780	$1,350	$1.73	43d	1	1.02mi
4907 Hamilton Ave Unit B Baltimore, MD	3.0	2.0	925	$1,699	$1.84	43d	1	1.05mi
4905 Hamilton Ave Apt B Baltimore, MD	3.0	2.0	925	$1,550	$1.68	23d	1	1.06mi
4903 1/2 Hamilton Ave Unit A Baltimore, MD	2.0	2.0	800	$1,450	$1.81	23d	1	1.06mi
4903 1/2 Hamilton Ave Apt B Baltimore, MD	3.0	2.0	925	$1,550	$1.68	23d	1	1.06mi
4909 Hamilton Ave Baltimore, MD	2.0–3.0	2.0	862	$1,450	$1.68	2d	5	1.07mi
5904 Arizona Ave Unit B Baltimore, MD	3.0	2.0	925	$1,550	$1.68	23d	1	1.08mi
4308 Hamilton Ave Baltimore, MD	2.0	1.0	1110	$1,416	$1.28	23d	1	1.17mi
6042 Barstow Rd Baltimore, MD	1.0–3.0	1.0	736	$1,146	$1.56	2d	1	1.31mi
3607 Bayonne Ave Unit 2 Baltimore, MD	2.0	1.0	900	$1,300	$1.44	23d	1	1.42mi
3607 Bayonne Ave Unit 1 Baltimore, MD	1.0	1.0	750	$1,100	$1.47	23d	1	1.42mi

Listing history 6 events

1. 2026-06-15
   statusdays on market $65,000 Pending 9 DOM
2. 2026-06-09
   days on market $65,000 Active 6 DOM
3. 2026-06-08
   days on market $65,000 Active 5 DOM
4. 2026-06-07
   days on market $65,000 Active 4 DOM
5. 2026-06-04
   remarks 299-char remark
6. 2026-06-04
   listed $65,000 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: $2,426 · $202/mo
• Projected year-2 tax: $2,426 · $202/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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,002
• − Mortgage interest: −$3,641
• − Property taxes: −$2,426
• − Insurance: −$992
• − Repairs & maintenance: −$1,440
• − Management: −$1,440
• − Depreciation: −$1,891
• Taxable income: $6,172
• Est. tax owed @ 24.0%: −$1,481
• After-tax cash flow: $5,232/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: Baltimore County Public Schools
• NCES district ID: 2400120
• Math proficiency: 15% ▼ -16.00%
• Reading proficiency: 34% ▼ -5.00%
• Median HH income: $66,746
• Composite: 23.17/100
• National rank: #7948
• State rank: #11 of 24 in MD

Livability — Overlea

• Score: 81/100
• State rank: #38
• US rank: #1418

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Overlea, MD
• County: Baltimore City · 558,601 people
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 48,902
• Household income: $64,531
• Rent vs Own: 46.8% rent · 53.2% own
• Severe rent burden: 2317.0

Population outlook (Baltimore County) Hauer SSP2

• Today (2025): 885,518 people
• By 2030: 909,272 · +2.7%
• By 2040: 951,547 · +7.5%
• By 2050: 990,955 · +11.9%
• By 2075: 1,086,411 · +22.7%
• By 2100: 1,135,078 · +28.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (73%)
• Race & ethnicity: Black 73% White 20% Two or more races 3% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 3% Ukrainian 1%
• Foreign-born: 8% · Canada
• Languages at home: 92% English-only · Spanish 2% Arabic 2% Other Indo-European 1%

Political lean MEDSL · Baltimore

• 2024 margin: Strong D (+24.5) · D 61.0% · R 36.5% · Other 2.5%
• 2008→2024 swing: +9.9pp toward D · 2008: 14.6pp · 2024: 24.5pp
• All cycles: 2024: D+24.5 2020: D+27.0 2016: D+17.4 2012: D+16.4 2008: D+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -191.83%
• Current HPI: 284.5645
• Rent YoY: ▲ 4.43%
• 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

-2.3% since first listed

8 events — show timeline

• 2026-06-04 Listed $65,000 BRIGHT MLS
• 2026-06-03 Coming Soon $65,000 BRIGHT MLS
• 2024-04-08 Rental Removed $1,449 PROPERTYWARE
• 2024-03-24 Listed for Rent $1,449 PROPERTYWARE
• 2024-03-19 Rental Removed $1,449 PROPERTYWARE
• 2024-02-10 Listed for Rent $1,449 PROPERTYWARE
• 2019-06-27 Sold (Public Records) $148,550 Public Records
• 2018-02-01 Sold (Public Records) $66,500 Public Records

Property tax history

+3.1%/yr

Latest (2025): $2,426 · +15.4% YoY. Source: county tax records.