20 Washington Dr · Parole, MD 21401

$449,900

5 bd · 2.0 ba · 1,828 sqft · SingleFamily public records · 30 Days on market

Built 1962 0.40 ac lot $246/sqft · 43% below area Est $793k · 43% under

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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).

• ARV discount +15.0/15.0
• Cash flow +10.3/30.0
• Livability +4.2/5.0
• DSCR +3.0/10.0
• Schools +2.9/10.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautifully updated home in the heart of Annapolis offering incredible flexibility, space, and opportunity! Situated on almost half an acre, this property features 5 bedrooms, 2 full bathrooms, two full kitchens, and a fully finished walk-out basement — perfect for multi-generational living, extended guests, rental potential, or anyone needing extra space. Seller financing may also be available, creating an exciting opportunity for qualified buyers. The main level showcases gorgeous hardwood floors, a bright and spacious living room with a cozy fireplace, and a renovated kitchen complete with white cabinetry, subway tile backsplash, quartz countertops. The updated bathroom features modern finishes and stylish tile work throughout. The fully finished walk-out basement adds even more living space with its own kitchen, full bathroom, laundry area, and multiple rooms that can be used as bedrooms, office space, gym, or guest quarters. Enjoy natural light throughout, generous-sized rooms, and a layout that offers endless possibilities. Conveniently located near downtown Annapolis, shopping, dining, commuter routes, and the Naval Academy.

Key facts

• 0.4 acre lot
• 2 parking spots
• Built 1962

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $450k.

Deal economics

• At list price, monthly cash flow is $-244 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $407k (9.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $342k (23.9% below list).
• Recommended offer: $342k (23.9% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 2.5% in Parole — 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 83/100 on livability (#23 in MD, #866 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: 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.
• Zoned schools: Monarch Global Academy Pcs Laurel Campus (math 13% / reading 28%, grade F, #341 of 860 statewide, top 40%, 830 students, 53% FRL); Wiley H. Bates Middle (math 17% / reading 41%, grade F, #73 of 225 statewide, top 32%, 682 students, 51% FRL); Annapolis High (math 34% / reading 57%, grade D-, #121 of 222 statewide, top 55%, 2,127 students, 60% FRL) — zoned schools average 54% FRL vs 25% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 223 active listings in the ZIP; high-income renter base; 1,303 units permitted in Anne Arundel County in 2024 (299 in 5+ unit buildings).
• This rent runs 33% of the median local income ($123k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k 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.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($443k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 19y ago; this cycle's ask has dropped $30k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $350k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 62% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $342,180 (23.9% 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. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.76% ✗
• Cap rate: 5.64%
• Cash-on-cash: -2.33%
• DSCR: 0.90
• GRM: 11.0

CMA / ARV

• ARV (median comp): $792,924
• List price: $449,900
• Delta: -43.26%
• Verdict: UNDERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
36 Lincoln Pkwy	0.15mi	4/2.0 (-1)	1,814 (-1%)	15mo	$520,000	$287	74
4 Roosevelt Dr	0.14mi	4/2.0 (-1)	2,016 (+10%)	5mo	$450,000	$223	67

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 · 0.14% rent growth · sell at horizon

5-year hold

• IRR: -23.2%
• Equity multiple: 0.22×
• Total profit: $-98,088
• Equity at exit: $67,082

10-year hold

• IRR: -27.3%
• Equity multiple: -0.13×
• Total profit: $-142,746
• Equity at exit: $38,899

Cash invested: $125,972 (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 21401

• Rents YoY: 0.1%
• Active inventory: 223
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $3,422 medium
• Mortgage (P&I): −$2,359
• Tax from tax record: −$401 /mo · $4,810/yr
• Insurance: −$187
• HOA: −$0
• Vacancy / Maint / Mgmt: −$719
• Net cashflow: $-244

Break-even live

Break-even rent $3,731

Max offer price $406,732

Occupancy floor —

Sensitivity live

Price	-10% $10	-5% $-117	+0% $-244	+5% $-372	+10% $-499
Rent	-10% $-515	-5% $-380	+0% $-244	+5% $-109	+10% $26
Rate	-1.0pp $-18	-0.5pp $-130	base $-244	+0.5pp $-361	+1.0pp $-480

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: $112,475
• Closing costs: $13,497
• Reserves months: —
• Total cash needed: —

Listing history 48 events

1. 2026-06-21
   days on market $449,900 Active 30 DOM
2. 2026-06-18
   days on market $449,900 Active 27 DOM
3. 2026-06-17
   status $449,900 Active 26 DOM
4. 2026-06-08
   statusdays on market $449,900 Pending 26 DOM
5. 2026-06-07
   days on market $449,900 Active 25 DOM
6. 2026-06-04
   remarks 699-char remark
7. 2026-06-04
   days on market $449,900 Active 22 DOM
8. 2026-06-03
   days on market $449,900 Active 21 DOM
9. 2026-06-02
   days on market $449,900 Active 20 DOM
10. 2026-06-01
    days on market $449,900 Active 19 DOM
11. 2026-05-31
    days on market $449,900 Active 18 DOM
12. 2026-05-13
    listed $480,000 Active 1172-char remark

    Show marketing remark (1172 chars)

    Welcome to this beautifully updated home in the heart of Annapolis offering incredible flexibility, space, and opportunity! Situated on almost half an acre, this property features 5 bedrooms, 2 full bathrooms, two full kitchens, and a fully finished walk-out basement — perfect for multi-generational living, extended guests, rental potential, or anyone needing extra space. Seller financing may also be available, creating an exciting opportunity for qualified buyers. The main level showcases gorgeous hardwood floors, a bright and spacious living room with a cozy fireplace, and a renovated kitchen complete with white cabinetry, subway tile backsplash, quartz countertops. The updated bathroom features modern finishes and stylish tile work throughout. The fully finished walk-out basement adds even more living space with its own kitchen, full bathroom, laundry area, and multiple rooms that can be used as bedrooms, office space, gym, or guest quarters. Enjoy natural light throughout, generous-sized rooms, and a layout that offers endless possibilities. Conveniently located near downtown Annapolis, shopping, dining, commuter routes, and the Naval Academy.

13. 2026-03-25
    historical $480,000 1172-char remark

    Show marketing remark (1172 chars)

    Welcome to this beautifully updated home in the heart of Annapolis offering incredible flexibility, space, and opportunity! Situated on almost half an acre, this property features 5 bedrooms, 2 full bathrooms, two full kitchens, and a fully finished walk-out basement — perfect for multi-generational living, extended guests, rental potential, or anyone needing extra space. Seller financing may also be available, creating an exciting opportunity for qualified buyers. The main level showcases gorgeous hardwood floors, a bright and spacious living room with a cozy fireplace, and a renovated kitchen complete with white cabinetry, subway tile backsplash, quartz countertops. The updated bathroom features modern finishes and stylish tile work throughout. The fully finished walk-out basement adds even more living space with its own kitchen, full bathroom, laundry area, and multiple rooms that can be used as bedrooms, office space, gym, or guest quarters. Enjoy natural light throughout, generous-sized rooms, and a layout that offers endless possibilities. Conveniently located near downtown Annapolis, shopping, dining, commuter routes, and the Naval Academy.

14. 2022-07-28
    soldstatus $350,000
15. 2022-06-24
    soldstatus $350,000 Closed 779-char remark

    Show marketing remark (779 chars)

    Location - Location - Location! This home sits on a quiet street at the end of a cul-de-sac that backs right up to the woods! It is close to shopping, schools, downtown Annapolis, and route 50/301 for a super easy commute. The home has an open floor plan, spacious bedrooms, and a lovely brick fireplace. There is a walk-out basement, with laundry, plenty of storage, windows, rec/game room and a 4th bedroom just waiting for you to put your finishing touches on it. Whether you want to just move right in or decide to transform this beauty into your dream home, this one definitely has a ton of potential! There is never a wrong time to buy the right home, so come and see it for yourself! The home is being sold As-Is , No HOA, and private parking. Bring your best offer today!

16. 2022-06-12
    historical Active Under Contract 779-char remark

    Show marketing remark (779 chars)

    Location - Location - Location! This home sits on a quiet street at the end of a cul-de-sac that backs right up to the woods! It is close to shopping, schools, downtown Annapolis, and route 50/301 for a super easy commute. The home has an open floor plan, spacious bedrooms, and a lovely brick fireplace. There is a walk-out basement, with laundry, plenty of storage, windows, rec/game room and a 4th bedroom just waiting for you to put your finishing touches on it. Whether you want to just move right in or decide to transform this beauty into your dream home, this one definitely has a ton of potential! There is never a wrong time to buy the right home, so come and see it for yourself! The home is being sold As-Is , No HOA, and private parking. Bring your best offer today!

17. 2022-06-10
    listed $349,900 Active 779-char remark

    Show marketing remark (779 chars)

    Location - Location - Location! This home sits on a quiet street at the end of a cul-de-sac that backs right up to the woods! It is close to shopping, schools, downtown Annapolis, and route 50/301 for a super easy commute. The home has an open floor plan, spacious bedrooms, and a lovely brick fireplace. There is a walk-out basement, with laundry, plenty of storage, windows, rec/game room and a 4th bedroom just waiting for you to put your finishing touches on it. Whether you want to just move right in or decide to transform this beauty into your dream home, this one definitely has a ton of potential! There is never a wrong time to buy the right home, so come and see it for yourself! The home is being sold As-Is , No HOA, and private parking. Bring your best offer today!

18. 2013-12-02
    soldstatus $272,900
19. 2013-11-18
    historical
20. 2013-11-18
    soldstatus $272,900 Sold
21. 2013-11-18
    soldstatus $272,900
22. 2013-10-05
    status Contract
23. 2013-10-04
    historical
24. 2013-09-04
    price $274,500
25. 2013-08-22
    price $298,450
26. 2013-08-08
    listed $312,750 Active
27. 2013-08-08
    listed $274,500
28. 2010-01-14
    soldstatus $253,000
29. 2010-01-08
    soldstatus $253,000 Sold
30. 2010-01-08
    soldstatus $253,000
31. 2009-12-30
    status Contract
32. 2009-12-15
    historical
33. 2009-07-09
    price $269,900
34. 2009-03-02
    listed $279,900
35. 2009-03-02
    listed $269,900
36. 2008-01-13
    historical
37. 2007-12-12
    price
38. 2007-11-27
    price
39. 2007-11-24
    price
40. 2007-11-02
    price
41. 2007-09-02
    price
42. 2007-08-13
    listed
43. 2007-08-02
    historical
44. 2007-07-27
    price
45. 2007-07-09
    listed
46. 2007-07-09
    historical
47. 2007-07-07
    listed
48. 2006-07-28
    soldstatus $227,000

ⓘ 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: $4,810 · $401/mo
• Projected year-2 tax: $4,857 · $405/mo
• Expected delta: +$47/yr (+$4/mo · 1.0%)

ⓘ 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 8/10 Severe 7 d/yr ≥104°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 62% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $41,062
• − Mortgage interest: −$25,201
• − Property taxes: −$4,810
• − Insurance: −$2,250
• − Repairs & maintenance: −$3,285
• − Management: −$3,285
• − Depreciation: −$13,088
• Taxable loss: −$10,857
• Est. tax savings @ 24.0%: +$2,606
• After-tax cash flow: $-327/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: 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 — Parole

• Score: 83/100
• State rank: #23
• US rank: #866

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Parole, MD
• County: Anne Arundel County · 535,653 people
• City population: 39,118
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 38,629
• Household income: $123,381
• Rent vs Own: 34.6% rent · 65.4% own
• Severe rent burden: 1158.0

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: Predominantly White (69%)
• Race & ethnicity: White 69% Black 15% Hispanic / Latino 9% Two or more races 6% Asian 4%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Romanian 3% Slovak 3% Italian 2%
• Foreign-born: 9% · Canada, Jamaica
• Languages at home: 87% English-only · Spanish 5% Tagalog/Filipino 2% Other Indo-European 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: ▼ -498.22%
• Current HPI: 297.4285
• Rent YoY: ▲ 0.14%
• 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

+111.5% since first listed

37 events — show timeline

• 2026-05-13 Listed $480,000 BRIGHT MLS
• 2026-03-25 Coming Soon $480,000 BRIGHT MLS
• 2022-07-28 Sold (Public Records) $350,000 Public Records
• 2022-06-24 Sold (MLS) $350,000 BRIGHT MLS
• 2022-06-12 Contingent — BRIGHT MLS
• 2022-06-10 Listed $349,900 BRIGHT MLS
• 2013-12-02 Sold (Public Records) $272,900 Public Records
• 2013-11-18 Delisted — MRIS
• 2013-11-18 Sold (MLS) $272,900 BRIGHT MLS
• 2013-11-18 Sold (MLS) $272,900 MRIS
• 2013-10-05 Pending — MRIS
• 2013-10-04 Listing Removed — BRIGHT MLS
• 2013-09-04 Price Changed $274,500 MRIS
• 2013-08-22 Price Changed $298,450 MRIS
• 2013-08-08 Listed $312,750 MRIS
• 2013-08-08 Listed $274,500 BRIGHT MLS
• 2010-01-14 Sold (Public Records) $253,000 Public Records
• 2010-01-08 Sold (MLS) $253,000 BRIGHT MLS
• 2010-01-08 Sold (MLS) $253,000 MRIS
• 2009-12-30 Pending — MRIS
• 2009-12-15 Listing Removed — BRIGHT MLS
• 2009-07-09 Price Changed $269,900 MRIS
• 2009-03-02 Listed $279,900 MRIS
• 2009-03-02 Listed $269,900 BRIGHT MLS
• 2008-01-13 Delisted — MRIS
• 2007-12-12 Price Changed — MRIS
• 2007-11-27 Price Changed — MRIS
• 2007-11-24 Price Changed — MRIS
• 2007-11-02 Price Changed — MRIS
• 2007-09-02 Price Changed — MRIS
• 2007-08-13 Listed — MRIS
• 2007-08-02 Delisted — MRIS
• 2007-07-27 Price Changed — MRIS
• 2007-07-09 Delisted — MRIS
• 2007-07-09 Listed — MRIS
• 2007-07-07 Listed — MRIS
• 2006-07-28 Sold (Public Records) $227,000 Public Records

Property tax history

+6.7%/yr

Latest (2025): $4,810 · +10.0% YoY. Source: county tax records.