1708 Fountain Rock Way Unit C · Edgewood, MD 21040

$110,000

2 bd · 1.0 ba · 882 sqft · Condo · 85 Days on market

Built 1973 Fair condition $125/sqft · 29% above area Est $86k · 29% over $350/mo HOA · 23% of rent

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Why this score? — see what drove the D 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 +17.1/30.0
• 1% rule +8.7/10.0
• DSCR +5.3/10.0
• Rent growth +3.7/5.0
• Livability +3.7/5.0
• Schools +2.9/10.0
• Condition / age +2.2/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well-maintained 2-bedroom, 1-bath condominium located in Edgewood. The unit offers a functional layout with comfortable living space and convenient access to shopping, dining, and major commuter routes. Located close to Aberdeen Proving Ground and I-95, making it a convenient location for commuting. A great opportunity for homeowners or investors seeking a property in Harford County.

Key facts

• Close to i-95
• Convenient access
• Functional layout

Tags

• FUNCTIONAL LAYOUT
• CONVENIENT ACCESS
• CLOSE TO I-95

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $110k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $76 ($918/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $103k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.1% 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; 7 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($103k) 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 23% of rent.
• Climate carrying-cost: 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 $103,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 1.37% ✓
• Cap rate: 7.13%
• Cash-on-cash: 2.98%
• DSCR: 1.13
• GRM: 6.1

CMA / ARV

• ARV (median comp): $85,552
• List price: $110,000
• Delta: 28.58%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -8.4%
• Equity multiple: 0.68×
• Total profit: $-9,759
• Equity at exit: $16,401

10-year hold

• IRR: 4.5%
• Equity multiple: 1.37×
• Total profit: $11,361
• Equity at exit: $9,511

Cash invested: $30,800 (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: 6.1×

Monthly cashflow live

• Estimated rent: $1,502 high
• Mortgage (P&I): −$577
• Tax est. 1.5%: −$138 /mo · $1,650/yr
• Insurance: −$46
• HOA: −$350
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $76

Break-even live

Break-even rent $1,405

Max offer price $110,000

Occupancy floor 90%

Sensitivity live

Price	-10% $152	-5% $114	+0% $76	+5% $38	+10% $0
Rent	-10% $-42	-5% $17	+0% $76	+5% $136	+10% $195
Rate	-1.0pp $132	-0.5pp $104	base $76	+0.5pp $48	+1.0pp $19

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1703 Fountain Rock Way Unit 1703-B Edgewood, MD	2.0	1.0	882	$1,250	$1.42	26d	1	0.04mi
905 Swallow Crest Ct Unit E Edgewood, MD	2.0	1.0	990	$1,495	$1.51	45d	1	0.12mi
814 Windstream Way Unit 814-A Edgewood, MD	1.0	1.0	882	$1,200	$1.36	45d	1	0.22mi
1772 Judy Way Edgewood, MD	3.0	1.5	1040	$2,195	$2.11	45d	1	0.33mi
802 Kingston Ct Edgewood, MD	1.0–3.0	1.0–1.5	1007	$1,652	$1.64	0d	16	0.42mi
570 Meadowood Dr Edgewood, MD	3.0	1.5	1080	$1,350	$1.25	0d	1	0.62mi
2120 Cedar Dr Apt F Edgewood, MD	3.0	1.5	1000	$1,295	$1.29	45d	1	1.41mi

HOA detail condo

• Monthly dues: $350 · $4,200/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-21
   days on market $110,000 Active 85 DOM
2. 2026-06-18
   days on market $110,000 Active 82 DOM
3. 2026-06-17
   days on market $110,000 Active 81 DOM
4. 2026-06-16
   days on market $110,000 Active 80 DOM
5. 2026-06-15
   days on market $110,000 Active 79 DOM
6. 2026-06-13
   days on market $110,000 Active 77 DOM
7. 2026-06-09
   days on market $110,000 Active 73 DOM
8. 2026-06-08
   days on market $110,000 Active 72 DOM
9. 2026-06-07
   days on market $110,000 Active 71 DOM
10. 2026-06-04
    days on market $110,000 Active 68 DOM
11. 2026-06-03
    days on market $110,000 Active 67 DOM
12. 2026-06-02
    days on market $110,000 Active 66 DOM
13. 2026-06-01
    days on market $110,000 Active 65 DOM
14. 2026-05-31
    days on market $110,000 Active 64 DOM
15. 2026-04-12
    status Active 386-char remark

    Show marketing remark (386 chars)

    Well-maintained 2-bedroom, 1-bath condominium located in Edgewood. The unit offers a functional layout with comfortable living space and convenient access to shopping, dining, and major commuter routes. Located close to Aberdeen Proving Ground and I-95, making it a convenient location for commuting. A great opportunity for homeowners or investors seeking a property in Harford County.

16. 2026-03-26
    historical Active Under Contract 386-char remark

    Show marketing remark (386 chars)

    Well-maintained 2-bedroom, 1-bath condominium located in Edgewood. The unit offers a functional layout with comfortable living space and convenient access to shopping, dining, and major commuter routes. Located close to Aberdeen Proving Ground and I-95, making it a convenient location for commuting. A great opportunity for homeowners or investors seeking a property in Harford County.

17. 2026-03-12
    listed $110,000 Active 386-char remark

    Show marketing remark (386 chars)

    Well-maintained 2-bedroom, 1-bath condominium located in Edgewood. The unit offers a functional layout with comfortable living space and convenient access to shopping, dining, and major commuter routes. Located close to Aberdeen Proving Ground and I-95, making it a convenient location for commuting. A great opportunity for homeowners or investors seeking a property in Harford County.

ⓘ 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 7/10 Severe 7 d/yr ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,025
• − Mortgage interest: −$6,162
• − Property taxes: −$1,650
• − Insurance: −$550
• − Repairs & maintenance: −$1,442
• − Management: −$1,442
• − HOA: −$4,200
• − Depreciation: −$3,200
• Taxable loss: −$621
• Est. tax savings @ 24.0%: +$149
• After-tax cash flow: $1,067/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 · 1 photo

Fair 45/100 Moderate rehab

This 2-bedroom, 1-bath condominium requires moderate repairs to the exterior siding and roof, along with some landscaping improvements. These updates will significantly increase its resale and rental value.

Repairs flagged

• Major Exterior siding — Significant wear and tear
• Major Roof — Aged appearance

Value-add opportunities

• Both Paint exterior siding — Fresh paint can improve curb appeal and value
• Both Replace roof — A new roof will significantly increase the home's value and reduce maintenance costs
• Both Landscaping — Well-maintained landscaping can enhance curb appeal and attract potential buyers

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Significant wear and tear	Major	$15,000–50,000
Roof · Aged appearance	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both Paint exterior siding — Fresh paint can improve curb appeal and value ↑
• Both Replace roof — A new roof will significantly increase the home's value and reduce maintenance costs ↑
• Both Landscaping — Well-maintained landscaping can enhance curb appeal and attract potential buyers ↑

ⓘ 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

3 events — show timeline

• 2026-04-12 Relisted — BRIGHT MLS
• 2026-03-26 Contingent — BRIGHT MLS
• 2026-03-12 Listed $110,000 BRIGHT MLS