7785 Cox Pt

Riviera Beach, MD 21226

$374,900D-

3 bd · 2.5 ba · 1,554 sqft · Built 1990 · Condo · Active · 34 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,742/mo
• Mortgage (P&I): −$1,966
• Tax + insurance: −$437
• HOA: −$230
• Vac / Maint / Mgmt: −$576
• Net cashflow: $-467/mo
• Annual: $-5,599/yr
• Cap rate: 4.80%
• Cash-on-cash: -5.33%
• DSCR: 0.76
• 1% rule: 0.73%
• Cash to close: $104,972

Investor read

• This is a 3-bed/2.5-bath condo listed at $375k.
• At list price, monthly cash flow is $-467 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $292k (22.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $274k (26.9% below list).
• It's been on market 34 days — a 3% lower offer ($364k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $274k (26.9% below list) — sets the bar for 1% rule.
• In year one you build about $32k of equity ($3k loan paydown + $29k appreciation (7.8% local appreciation)).
• Location reads 64/100 on livability (#280 in MD) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: crime D, cost of living D, schools D-.
• 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: 45 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 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.
• Current owner paid $130k; list at $375k implies a 188% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$51k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 63% 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.

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 34 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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?