320 Thelma Ave · Glen Burnie, MD 21061

$150,000

3 bd · 1.0 ba · 1,026 sqft · SingleFamily public records · 10 Days on market

Built 1969 2,540 sqft lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Rent growth +3.5/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

REAL ESTATE AUCTION featuring ON SITE and SIMULCAST ONLINE BIDDING!! Online Bidding Opens - Sunday, June 28, 2026. Live On Site Auction - Monday, June 29, 2026 at 3:00 PM. This listing is for a 3-bedroom, 1-bath brick-and-shingle rancher at 320 Thelma Avenue in the Glen Burnie Heights neighborhood of Glen Burnie, Maryland. The home sits on three contiguous lots totaling about 0.17 acres and includes a fenced rear yard, storage shed, and an unfinished basement, but it requires updating and cosmetic repairs. The house was built in 1969 and contains approximately 1,026 square feet of living space plus 1,206 square feet of basement area. The property will be sold at a live and online estate auc

Key facts

• 2,540 sq ft lot
• Built 1969
• Listed 10 days

Property features AI

Finance

• Other: Ground rent paid annually
• Financial info: Fee simple ownership
• HOA & community: No HOA details provided

Exterior

• Parking: No parking details provided
• Security: No security features provided
• Utilities: Public water; Public sewer; Electric cooling fuel; Oil heating fuel
• Home design: Detached property; Asphalt shingle roof
• Construction: Brick and shingle siding construction; Block foundation; Sliding windows; Above-grade and below-grade structures
• Exterior features: Rear fencing; Additional parcel(s) included

Interior

• Kitchen: Electric range/oven; Refrigerator
• Bedrooms: 3 bedrooms on main level
• Flooring: Carpet; Hardwood; Vinyl
• Bathrooms: 1 full bathroom on main level
• Heating & cooling: Forced air heating (oil-fired); Ceiling fans for cooling; Electric hot water
• Interior features: Entry-level bedroom; Wood floors; Carpet
• Laundry & utility: Washer and dryer located in the basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $574 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 10.9% vs local median 4.4% in Glen Burnie — 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 72/100 on livability (#135 in MD) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, housing A+; Watch: cost of living C-, crime F, amenities 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: Richard Henry Lee Elementary (math 9% / reading 11%, grade F, #602 of 860 statewide, top 71%, 510 students, 68% FRL); Corkran Middle School (math 5% / reading 28%, grade F, #174 of 225 statewide, top 81%, 644 students, 68% FRL); Glen Burnie High (math 24% / reading 56%, grade F, #131 of 222 statewide, top 60%, 2,324 students, 61% FRL) — zoned schools average 66% FRL vs 25% district-wide (40 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.9%/yr); 140 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,303 units permitted in Anne Arundel County in 2024 (299 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 3.9% rent growth), your $42k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% 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 $150,000

Questions for the listing agent

1. Built in 1969 — 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 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?
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: 1.34% ✓
• Cap rate: 10.89%
• Cash-on-cash: 16.41%
• DSCR: 1.73
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $350,892
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
501 Glen Heights Ave	0.54mi	3/1.5	1,026 (0%)	1mo	$315,000	$307	72
209 Lincoln Ave SW	0.43mi	3/2.0	1,026 (0%)	5mo	$378,500	$369	72
305 4th Ave SW	0.58mi	3/1.0	1,008 (-2%)	9mo	$325,000	$322	62
123 Wilson Blvd SW	0.40mi	2/1.0 (-1)	1,053 (+3%)	16mo	$345,000	$328	58
107 Martin Rd	0.63mi	3/1.0	1,040 (+1%)	15mo	$380,000	$365	56
1011 Londonderry Dr	0.71mi	3/1.0	912 (-11%)	1mo	$355,000	$389	48
301 Newfield Rd	0.64mi	3/2.0	1,120 (+9%)	7mo	$390,000	$348	45
306 9th Ave SE	0.71mi	3/1.0	1,068 (+4%)	20mo	$365,000	$342	44
103 Buckingham Dr	0.60mi	3/1.0	912 (-11%)	18mo	$320,000	$351	39
401 Holly Rd	0.45mi	4/2.0 (+1)	1,152 (+12%)	17mo	$380,000	$330	36
204 Aquahart Rd	0.63mi	3/2.0	1,154 (+12%)	14mo	$375,000	$325	34
209 3rd Ave SW	0.67mi	2/2.0 (-1)	1,136 (+11%)	16mo	$330,000	$290	28

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 · 3.87% rent growth · sell at horizon

5-year hold

• IRR: 8.5%
• Equity multiple: 1.34×
• Total profit: $14,077
• Equity at exit: $22,365

10-year hold

• IRR: 18.4%
• Equity multiple: 2.59×
• Total profit: $66,867
• Equity at exit: $12,969

Cash invested: $42,000 (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 21061

• Rents YoY: 3.9%
• Active inventory: 140
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $2,013 high
• Mortgage (P&I): −$787
• Tax from tax record: −$167 /mo · $1,998/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $574

Break-even live

Break-even rent $1,286

Max offer price $150,000

Occupancy floor 66%

Sensitivity live

Price	-10% $659	-5% $617	+0% $574	+5% $532	+10% $490
Rent	-10% $415	-5% $495	+0% $574	+5% $654	+10% $733
Rate	-1.0pp $650	-0.5pp $613	base $574	+0.5pp $536	+1.0pp $496

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
104 Lincoln Ave SW Unit C Glen Burnie, MD	2.0	1.0	1200	$1,950	$1.62	24d	1	0.48mi
216 Crain Ct Cir Glen Burnie, MD	1.0–2.0	1.0	800	$1,839	$2.30	2d	5	0.49mi
115 Heather Stone Way Glen Burnie, MD	3.0	2.5	1400	$2,295	$1.64	44d	1	0.52mi
442 Pamela Rd Unit 403-E Glen Burnie, MD	2.0	1.0	850	$1,675	$1.97	44d	1	0.53mi
442 Pamela Rd Glen Burnie, MD	2.0	1.0	850	$1,530	$1.80	24d	1	0.53mi
1103 Somerset Dr Glen Burnie, MD	3.0	1.0	1000	$2,500	$2.50	11d	1	0.57mi
1000 Linda Lee Dr Unit 1000B Glen Burnie, MD	2.0	1.0	750	$1,175	$1.57	18d	1	0.69mi
547 Munroe Cir Glen Burnie, MD	3.0	2.0	1130	$2,750	$2.43	44d	1	0.84mi
600 Marlboro Rd Glen Burnie, MD	4.0	1.0	1344	$2,850	$2.12	44d	1	0.92mi
554 West Ct Glen Burnie, MD	2.0	2.0	1120	$1,950	$1.74	11d	1	1.07mi
544 Glen Ct Unit 31D Glen Burnie, MD	3.0	1.0	1056	$2,395	$2.27	24d	1	1.10mi
201 Crain Hwy N Glen Burnie, MD	1.0–3.0	1.0–2.0	870	$2,050	$2.36	22d	3	1.15mi
299 Snow Cap Ct Glen Burnie, MD	1.0–2.0	1.0	721	$1,697	$2.35	20d	1	1.21mi
7820 Parke West Dr Glen Burnie, MD	1.0–3.0	1.0–2.0	922	$2,389	$2.59	3d	16	1.22mi
215d Woodhill Dr Glen Burnie, MD	1.0–2.0	1.0	817	$1,650	$2.02	2d	29	1.35mi
7906 Allard Ct Glen Burnie, MD	2.0	1.0	720	$1,725	$2.40	11d	1	1.36mi
7906 Allard Ct Glen Burnie, MD	2.0	1.0	720	$1,725	$2.40	44d	1	1.36mi
7906 Allard Ct Glen Burnie, MD	3.0	1.0	800	$1,915	$2.39	24d	1	1.36mi
1 Tall Pines Ct Glen Burnie, MD	2.0	1.0	544	$1,802	$3.31	14d	1	1.37mi
469 Glen Mar Rd Glen Burnie, MD	1.0–2.0	1.0	838	$1,625	$1.94	2d	11	1.43mi
7906 Silent Shadow Ct Glen Burnie, MD	2.0	1.0	544	$1,518	$2.79	44d	1	1.44mi

Listing history 9 events

1. 2026-06-18
   days on market $150,000 Active 10 DOM
2. 2026-06-17
   days on market $150,000 Active 9 DOM
3. 2026-06-16
   days on market $150,000 Active 8 DOM
4. 2026-06-15
   days on market $150,000 Active 7 DOM
5. 2026-06-13
   days on market $150,000 Active 5 DOM
6. 2026-06-08
   statusdays on market $150,000 Active 1 DOM
7. 2026-06-07
   days on market $150,000 Coming Soon 4 DOM
8. 2026-06-04
   remarks 699-char remark
9. 2026-06-04
   listed $150,000 Coming Soon 1 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: $1,998 · $167/mo
• Projected year-2 tax: $1,998 · $167/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 ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,154
• − Mortgage interest: −$8,402
• − Property taxes: −$1,998
• − Insurance: −$750
• − Repairs & maintenance: −$1,932
• − Management: −$1,932
• − Depreciation: −$4,364
• Taxable income: $4,775
• Est. tax owed @ 24.0%: −$1,146
• After-tax cash flow: $5,748/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 — Glen Burnie

• Score: 72/100
• State rank: #135
• US rank: #5815

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Glen Burnie, MD
• County: Anne Arundel County · 535,653 people
• City population: 96,960
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 57,230
• Household income: $87,751
• Rent vs Own: 43.7% rent · 56.3% own
• Severe rent burden: 2134.0

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: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 50% Black 26% Hispanic / Latino 11% Two or more races 10% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Romanian 3% Lithuanian 1% Slovak 1%
• Foreign-born: 12% · Canada, Dominican Republic
• Languages at home: 84% English-only · Spanish 9% Tagalog/Filipino 2% Other Indo-European 2%

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: ▼ -341.00%
• Current HPI: 300.196
• Rent YoY: ▲ 3.87%
• 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

• 2026-06-03 Coming Soon $150,000 BRIGHT MLS

Property tax history

+5.0%/yr

Latest (2025): $1,998 · +2.8% YoY. Source: county tax records.