50 Robinson Landing Rd

Severna Park, MD 21146

$675,000D

5 bd · 2.5 ba · 2,764 sqft · Built 1994 · SingleFamily · Active · 63 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,049/mo
• Mortgage (P&I): −$3,540
• Tax + insurance: −$721
• HOA: −$0
• Vac / Maint / Mgmt: −$1,060
• Net cashflow: $-272/mo
• Annual: $-3,267/yr
• Cap rate: 5.81%
• Cash-on-cash: -1.73%
• DSCR: 0.92
• 1% rule: 0.75%
• Cash to close: $189,000

Investor read

• This is a 5-bed/2.5-bath single-family listed at $675k.
• At list price, monthly cash flow is $-272 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $627k (7.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $505k (25.2% below list).
• It's been on market 63 days — a 6% lower offer ($634k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $505k (25.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $20k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#75 in MD, #2,690 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, employment A+, housing A+; Watch: amenities F, cost of living 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: 147 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 1,303 units permitted in Anne Arundel County in 2024 (299 in 5+ unit buildings).
• Anne Arundel County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 7 sale attempts since 14y ago; this cycle's ask has dropped $50k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $454k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: major wind risk, 62% 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.
• Cap rate 5.8% vs local median 3.2% in Severna 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.
• This rent runs 35% of the median local income ($172k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• It's been on market 63 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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?
• 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.
• 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.