12911 10th St

Bowie, MD 20720

$325,000C

4 bd · 1.0 ba · 1,240 sqft · Built 1941 · Land · Pending · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,558/mo
• Mortgage (P&I): −$1,704
• Tax + insurance: −$340
• HOA: −$0
• Vac / Maint / Mgmt: −$747
• Net cashflow: $767/mo
• Annual: $9,202/yr
• Cap rate: 9.12%
• Cash-on-cash: 10.11%
• DSCR: 1.45
• 1% rule: 1.09%
• Cash to close: $91,000

Investor read

• This is a 4-bed/1.0-bath land listed at $325k.
• At list price, monthly cash flow is $767 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $325k).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#159 in MD) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Prince George'S County Public Schools (suburban): math 8% / reading 24% proficiency, ranked #21 of 24 in MD (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Rockledge Elementary (math 2% / reading 22%, grade F, #538 of 860 statewide, top 64%, 341 students, 58% FRL); Samuel Ogle Middle (math 9% / reading 40%, grade F, #108 of 225 statewide, top 50%, 795 students, 49% FRL); Bowie High (math 31% / reading 73%, grade D+, #100 of 222 statewide, top 47%, 2,460 students, 48% FRL) — zoned schools at 52% FRL track the district average.
• Zoned-school proficiency averages 30% at this address vs 16% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Prince George'S County Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 119 active listings in the ZIP; high-income renter base; 1,481 units permitted in Prince George's County in 2024 (0 in 5+ unit buildings).
• Prince George's County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 6y ago 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.
• Current owner paid $175k; list at $325k implies a 86% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.1% vs local median 4.1% in Bowie — 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.

Questions for listing agent

• Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.