1962 Searles Rd · Dundalk, MD 21222

$165,000

2 bd · 1.0 ba · 1,016 sqft · Townhouse public records · 12 Days on market

Built 1953 1,760 sqft lot Est $210k · 22% under

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Why this score? — see what drove the C+ 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 +24.1/30.0
• ARV discount +15.0/15.0
• DSCR +7.8/10.0
• 1% rule +6.3/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Professional photos coming soon! There is a lot to love about this affordable 2BR/ 1.5 BA home! Yes it needs a little TLC, but put in the sweat, build some equity and call it home! For those looking for an investment, this is an easy turnaround for rental or go the extra mile for a rehab. Covered front and back porches, hardwood floors, new furnace, partially finished lower level with walkout to a huge fenced back yard with additional parking. Plenty of parking on the street as well. Backs to trees and CCBC grounds. Super easy access to public transportation, Merritt Park shopping center with Texas Roadhouse, Chili's, Chipotle, Urgent Care center, the North Point Branch Public Library and m

Key facts

• Built 1953
• Listed 11 days

Property features AI

Finance

• Financial info: Ground rent payment of $45 paid semi-annually

Exterior

• Parking: On-street parking; Alley access; Off-street parking
• Utilities: Hot water heated by natural gas
• Home design: Interior townhouse/rowhouse; Ground rent ownership (semi-annual payment)
• Construction: Brick construction; Block foundation
• Exterior features: Public water and public sewer; No tidal water

Interior

• Bedrooms: Two bedrooms on the first upper level
• Bathrooms: One full bathroom on the upper level; One half bathroom on a lower level
• Heating & cooling: Forced air heating (natural gas); Window AC units (electric)
• Interior features: Partially finished basement with interior access and outside entrance

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $165k.

Deal economics

• At list price, monthly cash flow is $326 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Cap rate 8.7% vs local median 6.2% in Dundalk — 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 85/100 on livability (#16 in MD, #510 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime F.
• Baltimore County Public Schools (suburban): math 15% / reading 34% proficiency, ranked #11 of 24 in MD (top 46%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents soft (-0.1%/yr); 237 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,511 units permitted in Baltimore County in 2024 (643 in 5+ unit buildings).
• This rent runs 35% of the median local income ($64k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Baltimore County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 60% 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.

Recommended offer $165,000

Questions for the listing agent

1. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is F 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?
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: 1.13% ✓
• Cap rate: 8.67%
• Cash-on-cash: 8.47%
• DSCR: 1.38
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $210,312
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7515 Holabird Ave	0.26mi	3/2.0 (+1)	1,016 (0%)	2mo	$230,000	$226	77
2328 Searles Rd	0.31mi	3/1.5 (+1)	1,016 (0%)	10mo	$220,000	$217	70
1953 Stanhope Rd	0.37mi	3/1.0 (+1)	1,008 (-1%)	12mo	$170,000	$169	67
1946 Eastfield Rd	0.10mi	3/1.5 (+1)	1,106 (+9%)	11mo	$202,500	$183	65
1903 Ormand Rd	0.37mi	2/1.5	896 (-12%)	0mo	$160,000	$179	61
2711 Creston Rd	0.67mi	3/1.5 (+1)	1,024 (+1%)	10mo	$199,000	$194	52
7545 Ives Ln	0.43mi	3/1.0 (+1)	1,144 (+13%)	7mo	$159,000	$139	48
2857 Plainfield Rd	0.58mi	2/1.5	1,121 (+10%)	9mo	$170,000	$152	46
2744 Plainfield Rd	0.64mi	2/2.0	896 (-12%)	3mo	$190,000	$212	44
7829 Scholar Rd	0.51mi	3/2.0 (+1)	1,152 (+13%)	2mo	$252,500	$219	44
7220 Martell Ave	0.62mi	3/1.0 (+1)	900 (-11%)	6mo	$189,000	$210	42
2634 Yorkway	0.66mi	3/2.0 (+1)	1,104 (+9%)	11mo	$229,000	$207	37

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -6.9%
• Equity multiple: 0.75×
• Total profit: $-11,397
• Equity at exit: $24,602

10-year hold

• IRR: -1.5%
• Equity multiple: 0.91×
• Total profit: $-4,183
• Equity at exit: $14,266

Cash invested: $46,200 (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 21222

• Rents YoY: -0.1%
• Active inventory: 237
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,868 high
• Mortgage (P&I): −$865
• Tax from tax record: −$215 /mo · $2,583/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $326

Break-even live

Break-even rent $1,455

Max offer price $165,000

Occupancy floor 78%

Sensitivity live

Price	-10% $420	-5% $373	+0% $326	+5% $280	+10% $233
Rent	-10% $179	-5% $252	+0% $326	+5% $400	+10% $474
Rate	-1.0pp $409	-0.5pp $368	base $326	+0.5pp $284	+1.0pp $240

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1915 Merritt Blvd Dundalk, MD	3.0	2.0	1208	$2,500	$2.07	45d	1	0.27mi
7508 Ives Ln Dundalk, MD	2.0	1.0	896	$1,750	$1.95	45d	1	0.49mi
7901 Stratman Rd Dundalk, MD	3.0	1.0	890	$1,647	$1.85	3d	1	0.62mi
414 Westfield Rd Dundalk, MD	3.0	1.0	1024	$2,300	$2.25	45d	1	0.64mi
7930 Kavanagh Rd Dundalk, MD	3.0	1.0	1024	$2,195	$2.14	45d	1	0.66mi
7917 Wise Ave Dundalk, MD	2.0	1.5	1500	$2,500	$1.67	25d	1	0.70mi
7962 Kavanagh Rd Dundalk, MD	3.0	2.0	1024	$1,947	$1.90	16d	1	0.73mi
2624 Liberty Pkwy Dundalk, MD	3.0	1.5	1110	$1,856	$1.67	45d	1	0.74mi
2907 Cornwall Rd Unit Road2nd Dundalk, MD	1.0	1.0	750	$950	$1.27	19d	1	0.76mi
2936 Yorkway #2 Dundalk, MD	1.0	1.0	1254	$950	$0.76	13d	1	0.77mi
2020 Dineen Dr Dundalk, MD	3.0	1.5	1258	$1,850	$1.47	6d	1	0.79mi
2939 Cornwall Rd Unit C Dundalk, MD	1.0	1.0	700	$900	$1.29	45d	1	0.80mi
12 Leeway Dundalk, MD	3.0	1.0	1358	$1,750	$1.29	45d	1	0.82mi
1955 Walnut Ave Dundalk, MD	3.0	1.0	950	$2,300	$2.42	45d	1	0.83mi
2976 Cornwall Rd Unit 1 Dundalk, MD	2.0	1.0	900	$1,590	$1.77	16d	1	0.87mi
2959 Liberty Pkwy Dundalk, MD	3.0	2.0	1479	$2,150	$1.45	45d	1	0.88mi
7003 Dunmanway Dundalk, MD	1.0–2.0	1.0	772	$1,345	$1.74	3d	13	0.93mi
1930 Frames Rd Dundalk, MD	3.0	2.0	1152	$2,099	$1.82	6d	1	0.93mi
849 Loalan Ave Dundalk, MD	3.0	1.5	1024	$1,850	$1.81	16d	1	0.98mi
3 Center Pl Unit 2 Dundalk, MD	1.0	1.0	700	$1,250	$1.79	45d	1	1.04mi
7484 Rabon Ave Dundalk, MD	3.0	1.5	1499	$2,000	$1.33	45d	1	1.07mi
8146 Del Haven Rd Dundalk, MD	3.0	2.0	1424	$2,700	$1.90	17d	1	1.10mi
7520 Durwood Rd Dundalk, MD	3.0	1.0	1110	$2,100	$1.89	45d	1	1.14mi
3000 Wallford Dr Dundalk, MD	1.0–2.0	1.0	717	$1,330	$1.85	4d	35	1.14mi
1925 Jasmine Rd Dundalk, MD	3.0	1.5	1024	$1,825	$1.78	12d	1	1.15mi
2125 Cameron Dr Dundalk, MD	1.0–2.0	1.0	697	$1,350	$1.94	45d	9	1.15mi
2032 Kelmore Rd Dundalk, MD	3.0	1.0	1024	$1,700	$1.66	45d	1	1.17mi
2025 Kelmore Rd Unit 1 Dundalk, MD	3.0	1.0	1024	$2,000	$1.95	45d	1	1.19mi
2004 Larkhall Rd Dundalk, MD	3.0	1.0	1024	$1,500	$1.46	45d	1	1.21mi
1610 Melbourne Rd Dundalk, MD	1.0–2.0	1.0	664	$1,240	$1.87	13d	1	1.25mi
7718 Meath Rd Dundalk, MD	3.0	2.0	864	$2,200	$2.55	45d	1	1.25mi
266 Saint Helena Ave Dundalk, MD	3.0	1.0	1305	$1,900	$1.46	13d	1	1.27mi
6722 Brentwood Ave Unit 2FL Dundalk, MD	3.0	1.0	900	$1,750	$1.94	45d	1	1.28mi
3503 Sollers Point Rd Dundalk, MD	3.0	1.0	776	$1,850	$2.38	13d	1	1.28mi
7444 Berkshire Rd Baltimore, MD	3.0	1.5	1228	$1,850	$1.51	6d	1	1.29mi
3443 Dunhaven Rd Dundalk, MD	2.0	2.0	1016	$1,900	$1.87	6d	1	1.30mi
7 Robinson Ave Dundalk, MD	3.0	2.0	1100	$2,600	$2.36	45d	1	1.31mi
3481 McShane Way Dundalk, MD	2.0	1.5	896	$2,150	$2.40	45d	1	1.34mi
3221 Wallford Dr Unit 3221 Dundalk, MD	3.0	1.0	1008	$1,750	$1.74	6d	1	1.35mi
3221 Wallford Dr Dundalk, MD	3.0	1.0	1008	$1,750	$1.74	4d	1	1.35mi

Listing history 11 events

1. 2026-06-21
   days on market $165,000 Active 12 DOM
2. 2026-06-18
   days on market $165,000 Active 9 DOM
3. 2026-06-17
   days on market $165,000 Active 8 DOM
4. 2026-06-16
   days on market $165,000 Active 7 DOM
5. 2026-06-15
   days on market $165,000 Active 6 DOM
6. 2026-06-13
   days on market $165,000 Active 4 DOM
7. 2026-06-10
   statusdays on market $165,000 Active 1 DOM
8. 2026-06-09
   days on market $165,000 Coming Soon 4 DOM
9. 2026-06-08
   days on market $165,000 Coming Soon 3 DOM
10. 2026-06-07
    remarks 699-char remark
11. 2026-06-07
    listed $165,000 Coming Soon 2 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: $2,583 · $215/mo
• Projected year-2 tax: $2,583 · $215/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 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 60% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,413
• − Mortgage interest: −$9,243
• − Property taxes: −$2,583
• − Insurance: −$825
• − Repairs & maintenance: −$1,793
• − Management: −$1,793
• − Depreciation: −$4,800
• Taxable income: $1,377
• Est. tax owed @ 24.0%: −$330
• After-tax cash flow: $3,585/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: Baltimore County Public Schools
• NCES district ID: 2400120
• Math proficiency: 15% ▼ -16.00%
• Reading proficiency: 34% ▼ -5.00%
• Median HH income: $66,746
• Composite: 23.17/100
• National rank: #7948
• State rank: #11 of 24 in MD

Livability — Dundalk

• Score: 85/100
• State rank: #16
• US rank: #510

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dundalk, MD
• County: Baltimore County · 769,527 people
• City population: 59,407
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 59,407
• Household income: $64,141
• Rent vs Own: 35.1% rent · 64.9% own
• Severe rent burden: 2566.0

Population outlook (Baltimore County) Hauer SSP2

• Today (2025): 885,518 people
• By 2030: 909,272 · +2.7%
• By 2040: 951,547 · +7.5%
• By 2050: 990,955 · +11.9%
• By 2075: 1,086,411 · +22.7%
• By 2100: 1,135,078 · +28.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 59% Black 18% Hispanic / Latino 15% Two or more races 7% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Romanian 7% Lithuanian 1% Italian 1%
• Foreign-born: 9% · Canada
• Languages at home: 85% English-only · Spanish 11% Other Indo-European 2% Arabic 1%

Political lean MEDSL · Baltimore

• 2024 margin: Strong D (+24.5) · D 61.0% · R 36.5% · Other 2.5%
• 2008→2024 swing: +9.9pp toward D · 2008: 14.6pp · 2024: 24.5pp
• All cycles: 2024: D+24.5 2020: D+27.0 2016: D+17.4 2012: D+16.4 2008: D+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -251.44%
• Current HPI: 228.4218
• Rent YoY: ▼ -0.09%
• 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

1 event — show timeline

• 2026-06-05 Coming Soon $165,000 BRIGHT MLS

Property tax history

+2.7%/yr

Latest (2025): $2,583 · -0.2% YoY. Source: county tax records.