352 W Deer Park Rd Unit 5B · Gaithersburg, MD 20877

$354,200

5 bd · 1.0 ba · 1,500 sqft · Condo public records · 138 Days on market

Built 1971 $236/sqft · at area comps Est $366k · at est. $315/mo HOA · 10% of rent ↓ 58% since listing

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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 +12.0/30.0
• ARV discount +9.0/15.0
• 1% rule +4.3/10.0
• Livability +4.0/5.0
• Schools +3.6/10.0
• DSCR +3.5/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Truly 4 full bedrooms and 2 full baths on the bedroom level All offers must be submitted by the buyer’s agent using the online offer management system. There will be a $175 charge to the selling agent at closing. A true 4 bedrooms on the upper level with 2 full baths. Kitchen has been updated with newer appliances and cabinets. Finished basement has newer full bath and 2 separate rooms.

Key facts

• Separate rooms
• Newer appliances
• Finished basement

Tags

• UPDATED KITCHEN
• NEWER APPLIANCES
• FINISHED BASEMENT
• NEWER FULL BATH
• SEPARATE ROOMS

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath condo listed at $354k.

Deal economics

• At list price, monthly cash flow is $-86 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $339k (4.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $330k (7.0% below list).
• Recommended offer: $312k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.0% vs local median 3.0% in Gaithersburg — 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 79/100 on livability (#59 in MD, #2,228 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, housing A+; Watch: cost of living F.
• Montgomery County Public Schools (suburban): math 27% / reading 45% proficiency, ranked #3 of 24 in MD (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.3%/yr); 62 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 3,880 units permitted in Montgomery County in 2024 (2,054 in 5+ unit buildings).
• This rent runs 43% of the median local income ($93k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Montgomery County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 138 days — a 12% lower offer ($312k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $114k; list at $354k implies a 211% gain — meaningful room to come down on a strong offer.

Recommended offer $311,696 (12.0% 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 138 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1971 — 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. 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: 0.93% ✗
• Cap rate: 6.00%
• Cash-on-cash: -1.04%
• DSCR: 0.95
• GRM: 9.0

CMA / ARV

• ARV (median comp): $366,006
• List price: $354,200
• Delta: -3.23%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.26% rent growth · sell at horizon

5-year hold

• IRR: -20.1%
• Equity multiple: 0.31×
• Total profit: $-68,327
• Equity at exit: $52,812

10-year hold

• IRR: -17.8%
• Equity multiple: 0.11×
• Total profit: $-88,193
• Equity at exit: $30,625

Cash invested: $99,176 (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 20877

• Rents YoY: 1.3%
• Active inventory: 62
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $3,295 high
• Mortgage (P&I): −$1,857
• Tax from tax record: −$369 /mo · $4,429/yr
• Insurance: −$148
• HOA: −$315
• Vacancy / Maint / Mgmt: −$692
• Net cashflow: $-86

Break-even live

Break-even rent $3,404

Max offer price $339,063

Occupancy floor 98%

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: $88,550
• Closing costs: $10,626
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
108 Middle Point Ct Gaithersburg, MD	4.0	3.5	2043	$2,800	$1.37	43d	1	0.26mi
17041 Downing St Gaithersburg, MD	1.0–4.0	1.0–2.5	1135	$3,008	$2.65	1d	16	0.47mi
102 W Deer Park Rd Gaithersburg, MD	4.0	3.0	1868	$3,400	$1.82	18d	1	0.94mi
1 Big Acre Sq Gaithersburg, MD	4.0	3.5	1853	$3,200	$1.73	43d	1	1.04mi
9702 Athletic Way Gaithersburg, MD	4.0	3.5	1760	$3,000	$1.70	24d	1	1.14mi
127 Decoverly Dr Gaithersburg, MD	4.0	4.5	1853	$3,700	$2.00	18d	1	1.20mi
115 Dickenson Dr Gaithersburg, MD	4.0	4.5	1648	$3,900	$2.37	18d	1	1.28mi
1102 Vermeer Ave Gaithersburg, MD	4.0	3.5	1842	$3,600	$1.95	5d	1	1.29mi
13 Fenceline Dr Gaithersburg, MD	4.0	3.5	1540	$2,940	$1.91	43d	1	1.29mi
203 Autumn Flower Ln Gaithersburg, MD	4.0	3.5	1428	$2,850	$2.00	43d	1	1.36mi
136 Bleeker Pl Gaithersburg, MD	4.0	3.5	2020	$4,800	$2.38	43d	1	1.37mi

HOA detail condo

• Monthly dues: $315 · $3,780/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-05-01
   price $354,200 395-char remark

   Show marketing remark (395 chars)

   Truly 4 full bedrooms and 2 full baths on the bedroom level All offers must be submitted by the buyer’s agent using the online offer management system. There will be a $175 charge to the selling agent at closing. A true 4 bedrooms on the upper level with 2 full baths. Kitchen has been updated with newer appliances and cabinets. Finished basement has newer full bath and 2 separate rooms.

2. 2026-02-19
   price $385,000 395-char remark

   Show marketing remark (395 chars)

   Truly 4 full bedrooms and 2 full baths on the bedroom level All offers must be submitted by the buyer’s agent using the online offer management system. There will be a $175 charge to the selling agent at closing. A true 4 bedrooms on the upper level with 2 full baths. Kitchen has been updated with newer appliances and cabinets. Finished basement has newer full bath and 2 separate rooms.

3. 2026-01-08
   listed $410,800 Active 395-char remark

   Show marketing remark (395 chars)

   Truly 4 full bedrooms and 2 full baths on the bedroom level All offers must be submitted by the buyer’s agent using the online offer management system. There will be a $175 charge to the selling agent at closing. A true 4 bedrooms on the upper level with 2 full baths. Kitchen has been updated with newer appliances and cabinets. Finished basement has newer full bath and 2 separate rooms.

4. 1992-03-13
   soldstatus $114,000
5. 1991-11-05
   soldstatus $95,000
6. 1989-04-24
   soldstatus $36,500
7. 1987-09-22
   soldstatus $835,600

ⓘ 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: $4,429 · $369/mo
• Projected year-2 tax: $4,429 · $369/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $39,546
• − Mortgage interest: −$19,841
• − Property taxes: −$4,429
• − Insurance: −$1,771
• − Repairs & maintenance: −$3,164
• − Management: −$3,164
• − HOA: −$3,780
• − Depreciation: −$10,304
• Taxable loss: −$6,906
• Est. tax savings @ 24.0%: +$1,657
• After-tax cash flow: $629/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: Montgomery County Public Schools
• NCES district ID: 2400480
• Math proficiency: 27% ▼ -21.00%
• Reading proficiency: 45% ▼ -10.00%
• Median HH income: $97,191
• Composite: 35.62/100
• National rank: #4889
• State rank: #3 of 24 in MD

Livability — Gaithersburg

• Score: 79/100
• State rank: #59
• US rank: #2228

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gaithersburg, MD
• County: Montgomery County · 961,106 people
• City population: 129,925
• Metro: Washington-Arlington-Alexandria, DC-VA-MD-WV
• Population (ZIP): 38,546
• Household income: $92,800
• Rent vs Own: 56.9% rent · 43.1% own
• Severe rent burden: 1957.0

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 1,173,231 people
• By 2030: 1,237,402 · +5.5%
• By 2040: 1,365,115 · +16.4%
• By 2050: 1,491,592 · +27.1%
• By 2075: 1,803,893 · +53.8%
• By 2100: 2,035,619 · +73.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Hispanic / Latino 47% White 19% Black 15% Asian 14% Two or more races 13% Native American 2%
• Hispanic origin (detail): Mexican 2% Dominican 1%
• Common ancestry: Italian 1% Romanian 1% Scotch-Irish 1%
• Foreign-born: 47% · Canada, China, Vietnam
• Languages at home: 36% English-only · Spanish 42% Other Indo-European 4% Chinese 3%

Political lean MEDSL · Montgomery

• 2024 margin: Solid D (+53.3) · D 75.2% · R 21.9% · Other 2.9%
• 2008→2024 swing: +8.7pp toward D · 2008: 44.6pp · 2024: 53.3pp
• All cycles: 2024: D+53.3 2020: D+59.6 2016: D+55.5 2012: D+43.4 2008: D+44.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -216.16%
• Current HPI: 276.4604
• Rent YoY: ▲ 1.26%
• 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

-57.6% since first listed

7 events — show timeline

• 2026-05-01 Price Changed $354,200 BRIGHT MLS
• 2026-02-19 Price Changed $385,000 BRIGHT MLS
• 2026-01-08 Listed $410,800 BRIGHT MLS
• 1992-03-13 Sold (Public Records) $114,000 Public Records
• 1991-11-05 Sold (Public Records) $95,000 Public Records
• 1989-04-24 Sold (Public Records) $36,500 Public Records
• 1987-09-22 Sold (Public Records) $835,600 Public Records

Property tax history

+4.8%/yr

Latest (2025): $4,429 · +8.3% YoY. Source: county tax records.