1013 Summerglenn Ct Unit 7-203 · Lake Arbor, MD 20721

$191,500

2 bd · 1.0 ba · 692 sqft · Condo public records · 14 Days on market

Built 1989 $486/mo HOA · 22% of rent

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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 +12.2/30.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Livability +4.0/5.0
• DSCR +3.6/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this 2 bedroom 1 bath condominium in Vistas at Lake Arbor community. This condo offers a living and dining area with a cozy fireplace. Conveniently located near Metro, shopping, restaurants, and major commuter routes, Move-in ready and ideal for comfortable living.

Key facts

• Move-in ready
• Cozy fireplace
• $486 HOA

Tags

• COZY FIREPLACE
• VISTAS AT LAKE ARBOR COMMUNITY
• MOVE-IN READY

Property features AI

Finance

• HOA & community: Condo fee $469 monthly (includes common area maintenance, lawn maintenance, snow removal, trash); HOA fee $207 annually

Exterior

• Parking: Parking lot
• Utilities: Public water; Public sewer; Electric service
• Home design: Garden-style building (1–4 floors); Unit/flat; Entry on level 2
• Construction: Vinyl siding
• Exterior features: Pets allowed on a case-by-case basis

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Refrigerator; Electric oven/range
• Bedrooms: 2 bedrooms on main level
• Flooring: Carpet
• Bathrooms: 1 full bathroom on main level; 1 full bathroom total
• Heating & cooling: Forced air heating (electric); Central air conditioning (electric); Ceiling fan(s); Electric hot water
• Interior features: Open floor plan; Combination dining and living area; Vaulted ceilings; Ceiling fan(s); Tub/shower; Upgraded countertops; Entry-level bedroom
• Laundry & utility: Stacked washer/dryer in unit; Washer/dryer hookup in unit

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $192k.

Deal economics

• At list price, monthly cash flow is $-40 ($-479/yr) — negative.
• To cash-flow at today's rent, offer at most $184k (3.7% below list).
• Meets the 1% rule at list price ($2k rent vs $192k).
• Recommended offer: $184k (3.7% below list) — sets the bar for cash-flow.
• Cap rate 6.0% vs local median 4.2% in Lake Arbor — 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 80/100 on livability (#49 in MD, #1,850 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, health & safety A+; Watch: amenities F, cost of living 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.
• Market conditions: Rents rising (+1.6%/yr); 98 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,481 units permitted in Prince George's County in 2024 (0 in 5+ unit buildings).
• This rent is only 17% of the median local income ($163k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Prince George's County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 29y 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.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $184,451 (3.7% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.18% ✓
• Cap rate: 6.04%
• Cash-on-cash: -0.89%
• DSCR: 0.96
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.6% rent growth · sell at horizon

5-year hold

• IRR: -19.7%
• Equity multiple: 0.32×
• Total profit: $-36,366
• Equity at exit: $28,553

10-year hold

• IRR: -16.8%
• Equity multiple: 0.14×
• Total profit: $-46,059
• Equity at exit: $16,557

Cash invested: $53,620 (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 20721

• Home prices YoY: -20.9%
• Rents YoY: 1.6%
• Active inventory: 98
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,256 high
• Mortgage (P&I): −$1,004
• Tax from tax record: −$252 /mo · $3,021/yr
• Insurance: −$80
• HOA: −$486
• Vacancy / Maint / Mgmt: −$474
• Net cashflow: $-40

Break-even live

Break-even rent $2,306

Max offer price $184,451

Occupancy floor 97%

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: $47,875
• Closing costs: $5,745
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1013 Summerglenn Ct Unit 7-203 Bowie, MD	2.0	1.0	692	$2,100	$3.03	43d	1	0.02mi
1011 Fallcrest Ct #202 Bowie, MD	2.0	1.0	692	$1,987	$2.87	5d	1	0.09mi
921 Westhaven Dr #303 Bowie, MD	1.0	1.0	626	$1,995	$3.19	24d	1	0.10mi
8911 Town Center Cir Upper Marlboro, MD	1.0	1.0	704	$1,875	$2.66	24d	1	0.96mi
150 Steeplechase Way Largo, MD	1.0–2.0	1.0–2.0	823	$2,305	$2.80	1d	17	1.03mi
9420 Grand Blvd Upper Marlboro, MD	2.0	1.0–2.0	876	$2,814	$3.21	1d	92	1.04mi
8831 Lottsford Rd Upper Marlboro, MD	1.0–2.0	1.0–2.0	1075	$2,908	$2.70	1d	20	1.06mi
97 Capital Ct Largo, MD	2.0	1.0–2.0	904	$2,680	$2.96	2d	22	1.09mi
67 S Harry Truman Dr Largo, MD	1.0–3.0	1.0–2.0	1015	$1,888	$1.86	1d	51	1.23mi

HOA detail condo

• Monthly dues: $486 · $5,832/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-06-18
   days on market $191,500 Active 14 DOM
2. 2026-06-17
   days on market $191,500 Active 13 DOM
3. 2026-06-16
   days on market $191,500 Active 12 DOM
4. 2026-06-15
   days on market $191,500 Active 11 DOM
5. 2026-06-13
   days on market $191,500 Active 9 DOM
6. 2026-06-10
   days on market $191,500 Active 5 DOM
7. 2026-06-08
   days on market $191,500 Active 4 DOM
8. 2026-06-07
   remarks 276-char remark
9. 2026-06-07
   listed $191,500 Active 3 DOM

ⓘ 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: $3,021 · $252/mo
• Projected year-2 tax: $3,021 · $252/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥103°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 22% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,067
• − Mortgage interest: −$10,727
• − Property taxes: −$3,021
• − Insurance: −$958
• − Repairs & maintenance: −$2,165
• − Management: −$2,165
• − HOA: −$5,832
• − Depreciation: −$5,571
• Taxable loss: −$3,372
• Est. tax savings @ 24.0%: +$809
• After-tax cash flow: $331/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: Prince George'S County Public Schools
• NCES district ID: 2400510
• Math proficiency: 8% ▼ -11.00%
• Reading proficiency: 24% ▼ -9.00%
• Median HH income: $73,967
• Composite: 16.82/100
• National rank: #9151
• State rank: #21 of 24 in MD

Livability — Lake Arbor

• Score: 80/100
• State rank: #49
• US rank: #1850

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Arbor, MD
• County: Prince Georges County · 919,866 people
• Metro: Washington-Arlington-Alexandria, DC-VA-MD-WV
• Population (ZIP): 31,032
• Household income: $163,105
• Rent vs Own: 10.5% rent · 89.5% own
• Severe rent burden: 292.0

Population outlook (Prince George's County) Hauer SSP2

• Today (2025): 1,005,426 people
• By 2030: 1,048,416 · +4.3%
• By 2040: 1,123,425 · +11.7%
• By 2050: 1,183,220 · +17.7%
• By 2075: 1,306,202 · +29.9%
• By 2100: 1,408,179 · +40.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (84%)
• Race & ethnicity: Black 84% White 6% Two or more races 5% Hispanic / Latino 4% Asian 2%
• Common ancestry: Hispanic 1% Italian 1% Lithuanian 1%
• Foreign-born: 15% · Canada
• Languages at home: 86% English-only · French/Haitian/Cajun 3% Spanish 3% Other Indo-European 1%

Political lean MEDSL · Prince George's

• 2024 margin: Solid D (+75.2) · D 86.3% · R 11.2% · Other 2.5%
• 2008→2024 swing: -3.3pp toward R · 2008: 78.5pp · 2024: 75.2pp
• All cycles: 2024: D+75.2 2020: D+80.5 2016: D+81.0 2012: D+80.9 2008: D+78.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -67.18%
• Current HPI: 254.2113
• Rent YoY: ▲ 1.60%
• 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

+105.9% since first listed

20 events — show timeline

• 2026-06-04 Listed $191,500 BRIGHT MLS
• 2025-05-09 Pending — BRIGHT MLS
• 2025-05-09 Listing Removed — BRIGHT MLS
• 2025-04-09 Listed $225,000 BRIGHT MLS
• 2025-04-08 Listing Removed — BRIGHT MLS
• 2025-03-05 Listed $250,000 BRIGHT MLS
• 2025-02-28 Coming Soon — BRIGHT MLS
• 2024-10-18 Rental Removed $2,100 TURBOTENANT
• 2024-10-17 Listed for Rent $2,100 REDFIN
• 2024-10-17 Listed for Rent $2,100 TURBOTENANT
• 2023-09-26 Rental Removed $2,100 BRIGHTMLS
• 2023-09-06 Listed for Rent $2,100 BRIGHTMLS
• 2023-08-17 Sold (Public Records) $220,000 Public Records
• 2023-07-26 Sold (MLS) $220,000 BRIGHT MLS
• 2023-06-21 Contingent — BRIGHT MLS
• 2023-06-14 Listed $220,000 BRIGHT MLS
• 2023-06-07 Coming Soon $220,000 BRIGHT MLS
• 1998-06-30 Delisted — MRIS
• 1997-12-22 Listed — MRIS
• 1990-03-30 Sold (Public Records) $92,990 Public Records

Property tax history

+3.8%/yr

Latest (2025): $3,021 · +7.8% YoY. Source: county tax records.