8023 Fair Breeze Dr · Severn, MD 21144

$65,000

2 bd · 2.0 ba · 1,140 sqft · SingleFamily · 39 Days on market

Built 2000 Fair condition 1,140 sqft lot $57/sqft · 83% below area

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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
• Livability +3.5/5.0
• Schools +2.9/10.0
• Rent growth +2.3/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

ENJOY MOBILE HOME LIVING AT IT'S BEST. OWN LESS THAN PAYING RENT. THIS HOME HAS 2 BEDROOM AND TWO BATHS, WITH AN OPEN FLOOR PLAN. AND A DESINATED WORK AREA, IF YOU SO CHOOSE. SKY LIGHTS TO BRING IN NATURAL LIGHT. THERE'S AN OUTDOOR SHED FOR EXTRA STORAGE, AND THE CHERRY ON TOP, YOU HAVE A 2 CAR DRIVEWAY. NO MORE FIGHTING OR LOOKING FOR A PARKING SPOT AFTER A LONG DAY. DON'T DELAY, COME ON BY TODAY AND MAKE OFFER, YOUR SURE TO GET A BANG FOR YOUR BUCK!! THE POTENTIAL BUYER WILL HAVE TO BE APPROVED BY THE LEASING OFFICE BEFORE PURCHASE, AND BE PRE APPROVED BY A MOBILE HOME LENDER. THIS IS NOT A TRADITIONAL/RESIDENTIAL PURCHASE THANK YOU!

Key facts

• Open floor plan
• Natural light
• Designated work area

Tags

• OPEN FLOOR PLAN
• DESIGNATED WORK AREA
• OUTDOOR SHED
• 2 CAR DRIVEWAY
• NATURAL LIGHT

Property features AI

Finance

• Other: Property manager present
• Financial info: Monthly ground rent of $1,015

Exterior

• Parking: Two total garage/parking spaces; Driveway fits two vehicles; Concrete driveway; On-street and off-street parking available
• Utilities: Public water; Public sewer; Electric heating and cooling
• Home design: Manufactured property; Modular/Manufactured construction; Ground rent ownership (monthly ground rent payment)
• Construction: Manufactured structure; Estimated year built
• Exterior features: Shed; Above-grade other structures

Interior

• Kitchen: Built-in microwave; Dishwasher; Disposal; Refrigerator; Stove
• Bedrooms: Two bedrooms on the main level
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: 90% forced air heating (electric); Central air conditioning (electric)
• Interior features: Estimated living area; No basement; Has laundry
• Laundry & utility: Stacked washer/dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $65k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.
• Cap rate 29.1% vs local median 4.0% in Severn — 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 70/100 on livability (#175 in MD) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A-; Watch: schools D+, crime D+, amenities F.
• Anne Arundel County Public Schools (suburban): math 20% / reading 37% proficiency, ranked #10 of 24 in MD (top 42%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents soft (-0.9%/yr); 136 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,303 units permitted in Anne Arundel County in 2024 (299 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.
• Anne Arundel County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($63k) 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.

Recommended offer $63,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D 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: 3.28% ✓
• Cap rate: 29.11%
• Cash-on-cash: 81.47%
• DSCR: 4.63
• GRM: 2.5

CMA / ARV

• ARV (median comp): $374,524
• List price: $65,000
• Delta: -82.64%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7959-39 Telegraph Rd #39	0.23mi	3/2.0 (+1)	1,092 (-4%)	8mo	$92,000	$84	71
7959-#12 Telegraph Rd #12	0.25mi	3/2.0 (+1)	1,064 (-7%)	12mo	$90,000	$85	62
8009 Fair Breeze Dr	0.05mi	2/2.0	980 (-14%)	15mo	$49,900	$51	62

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 78.3%
• Equity multiple: 4.40×
• Total profit: $61,950
• Equity at exit: $9,692

10-year hold

• IRR: 81.1%
• Equity multiple: 8.21×
• Total profit: $131,260
• 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 21144

• Rents YoY: -0.9%
• Active inventory: 136
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $2,133 high
• Mortgage (P&I): −$341
• Tax est. 1.5%: −$81 /mo · $975/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$448
• Net cashflow: $1,236

Break-even live

Break-even rent $569

Max offer price $65,000

Occupancy floor 37%

Sensitivity live

Price	-10% $1,281	-5% $1,258	+0% $1,236	+5% $1,213	+10% $1,191
Rent	-10% $1,067	-5% $1,151	+0% $1,236	+5% $1,320	+10% $1,404
Rate	-1.0pp $1,268	-0.5pp $1,252	base $1,236	+0.5pp $1,219	+1.0pp $1,202

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 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7918 Sage Way Severn, MD	2.0	1.0	900	$1,950	$2.17	44d	1	0.90mi
7900 Erin Michele Pkwy Severn, MD	1.0–3.0	1.0–2.0	1111	$2,897	$2.61	3d	9	1.12mi
1807 Arwell Ct Severn, MD	3.0	1.0	1068	$1,900	$1.78	15d	1	1.27mi
1839 Arwell Ct Severn, MD	3.0	1.0	1054	$2,500	$2.37	25d	1	1.31mi
1833 Richfield Dr Severn, MD	3.0	1.0	1125	$1,820	$1.62	2d	8	1.36mi
8317 Severn Orchard Cir Severn, MD	1.0–3.0	1.0	897	$1,768	$1.97	2d	81	1.43mi
8429 Pioneer Dr Severn, MD	3.0	2.0	1068	$2,150	$2.01	44d	1	1.46mi
8001 Laketowne Ct Severn, MD	2.0–3.0	1.0–1.5	1014	$1,989	$1.96	4d	18	1.46mi
8567 Pioneer Dr Severn, MD	3.0	1.0	1068	$2,050	$1.92	44d	1	1.48mi

Listing history 17 events

1. 2026-06-21
   days on market $65,000 Active 39 DOM
2. 2026-06-18
   days on market $65,000 Active 36 DOM
3. 2026-06-17
   days on market $65,000 Active 35 DOM
4. 2026-06-16
   days on market $65,000 Active 34 DOM
5. 2026-06-15
   days on market $65,000 Active 33 DOM
6. 2026-06-13
   days on market $65,000 Active 31 DOM
7. 2026-06-09
   days on market $65,000 Active 27 DOM
8. 2026-06-08
   days on market $65,000 Active 26 DOM
9. 2026-06-07
   days on market $65,000 Active 25 DOM
10. 2026-06-04
    days on market $65,000 Active 22 DOM
11. 2026-06-03
    days on market $65,000 Active 21 DOM
12. 2026-06-02
    days on market $65,000 Active 20 DOM
13. 2026-06-01
    days on market $65,000 Active 19 DOM
14. 2026-05-31
    days on market $65,000 Active 18 DOM
15. 2026-05-13
    listed $65,000 Active 643-char remark
16. 2026-01-13
    historical
17. 2025-11-05
    listed $50,000 Active

ⓘ 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: $25,593
• − Mortgage interest: −$3,641
• − Property taxes: −$975
• − Insurance: −$325
• − Repairs & maintenance: −$2,047
• − Management: −$2,047
• − Depreciation: −$1,891
• Taxable income: $14,666
• Est. tax owed @ 24.0%: −$3,520
• After-tax cash flow: $11,308/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 · 12 photos

Fair 45/100 Moderate rehab

This mobile home requires moderate renovations to update the kitchen and paint the interior walls, which would significantly increase its value for both resale and rental.

Repairs flagged

• Moderate kitchen cabinets — outdated and in need of replacement
• Moderate kitchen countertops — dated and in need of replacement
• Minor bathroom fixtures — standard fixtures

Value-add opportunities

• Both update kitchen cabinets and countertops — modernizing the kitchen would appeal to both buyers and renters
• Both paint interior walls — fresh paint would improve the home's curb appeal and interior aesthetics
• Both replace carpeted floors — new flooring would improve the home's overall appearance and increase its value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · outdated and in need of replacement	Moderate	$3,000–15,000
kitchen countertops · dated and in need of replacement	Moderate	$3,000–15,000
bathroom fixtures · standard fixtures	Minor	$500–3,000
Total estimated repair cost · 3 items		$6,500–33,000

Value-add ROI direction

• Both update kitchen cabinets and countertops — modernizing the kitchen would appeal to both buyers and renters ↑
• Both paint interior walls — fresh paint would improve the home's curb appeal and interior aesthetics ↑
• Both replace carpeted floors — new flooring would improve the home's overall appearance and increase its 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: Anne Arundel County Public Schools
• NCES district ID: 2400060
• Math proficiency: 20% ▼ -21.00%
• Reading proficiency: 37% ▼ -13.00%
• Median HH income: $87,880
• Composite: 28.52/100
• National rank: #6733
• State rank: #10 of 24 in MD

Livability — Severn

• Score: 70/100
• State rank: #175
• US rank: #7833

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Severn, MD
• County: Anne Arundel County · 535,653 people
• City population: 37,118
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 37,118
• Household income: $136,684
• Rent vs Own: 19.7% rent · 80.3% own
• Severe rent burden: 550.0

Population outlook (Anne Arundel County) Hauer SSP2

• Today (2025): 617,384 people
• By 2030: 642,094 · +4.0%
• By 2040: 686,621 · +11.2%
• By 2050: 723,031 · +17.1%
• By 2075: 809,346 · +31.1%
• By 2100: 837,658 · +35.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 43% Black 32% Hispanic / Latino 11% Two or more races 10% Asian 7%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 2% Lithuanian 2% Italian 1%
• Foreign-born: 15% · Canada, South Korea, Jamaica
• Languages at home: 80% English-only · Spanish 7% Other Indo-European 2% French/Haitian/Cajun 1%

Political lean MEDSL · Anne Arundel

• 2024 margin: D (+13.9) · D 55.7% · R 41.7% · Other 2.6%
• 2008→2024 swing: +15.7pp toward D · 2008: -1.8pp · 2024: 13.9pp
• All cycles: 2024: D+13.9 2020: D+14.5 2016: D+0.7 2012: R+0.9 2008: R+1.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -275.16%
• Current HPI: 271.5527
• Rent YoY: ▼ -0.93%
• 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

+30.0% since first listed

3 events — show timeline

• 2026-05-13 Listed $65,000 BRIGHT MLS
• 2026-01-13 Listing Removed — BRIGHT MLS
• 2025-11-05 Listed $50,000 BRIGHT MLS