17805 Buehler Rd #3 · Olney, MD 20832

$190,000

3 bd · 1.5 ba · 1,022 sqft · Condo public records · 69 Days on market

Built 1973 $186/sqft · 13% below area Est $218k · 13% under $635/mo HOA · 23% of rent

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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 +23.6/30.0
• ARV discount +13.3/15.0
• 1% rule +9.7/10.0
• DSCR +7.6/10.0
• Livability +4.0/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Rare opportunity to own a 3-bedroom, 1.5-bath condo in the desirable Camelback Village community in Olney! This top-floor unit is filled with natural light and features hardwood flooring throughout the main living areas, a private balcony, and the convenience of an in-unit washer and dryer. The kitchen and bathrooms offer a classic layout with room to update and make your own. Condo fee includes water, heating, and A/C for added value. Community amenities include a pool, tennis courts, playgrounds, and ample parking. With a little vision, this home presents the perfect opportunity to create your ideal space! Unit door #119.

Key facts

• $635 HOA
• Community pool
• Built 1973

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $190k.

Deal economics

• At list price, monthly cash flow is $358 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Recommended offer: $179k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 2.8% in Olney — 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 81/100 on livability (#40 in MD, #1,468 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, health & safety A; Watch: cost of living F.
• Montgomery County Public Schools (suburban): math 27% / reading 45% proficiency, ranked #3 of 24 in MD (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 77 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 3,880 units permitted in Montgomery County in 2024 (2,054 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 $6k of value loss. Plan a longer hold.
• Montgomery County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 30y 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 23% of rent.
• 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.

Recommended offer $178,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.47% ✓
• Cap rate: 8.56%
• Cash-on-cash: 8.08%
• DSCR: 1.36
• GRM: 5.7

CMA / ARV

• ARV (median comp): $218,228
• List price: $190,000
• Delta: -12.94%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -3.8%
• Equity multiple: 0.86×
• Total profit: $-7,603
• Equity at exit: $28,330

10-year hold

• IRR: 6.1%
• Equity multiple: 1.46×
• Total profit: $24,252
• Equity at exit: $16,428

Cash invested: $53,200 (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 20832

• Active inventory: 77
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $2,785 high
• Mortgage (P&I): −$996
• Tax from tax record: −$132 /mo · $1,581/yr
• Insurance: −$79
• HOA: −$635
• Vacancy / Maint / Mgmt: −$585
• Net cashflow: $358

Break-even live

Break-even rent $2,332

Max offer price $190,000

Occupancy floor 82%

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18106 Windsor Hill Dr #102 Olney, MD	2.0	1.5	1032	$2,350	$2.28	2d	1	0.35mi
18112 Windsor Hill Dr Unit 104A Olney, MD	2.0	1.5	1137	$2,350	$2.07	22d	1	0.35mi
18101 Marksman Cir Olney, MD	1.0–3.0	1.0–2.0	992	$2,716	$2.74	1d	6	0.41mi
18016 Golden Spring Ct #241 Olney, MD	3.0	2.5	1395	$2,800	$2.01	18d	1	0.45mi
18363 Leman Lake Dr Olney, MD	3.0	2.5	1250	$2,500	$2.00	43d	1	0.51mi
18231 Fox Chase Cir Olney, MD	3.0	3.5	1280	$2,500	$1.95	43d	1	0.55mi
17405 Pipers Way Olney, MD	2.0	2.0	1160	$2,350	$2.03	4d	1	0.60mi
3038 Finsel Ct Olney, MD	3.0	2.5	1440	$2,800	$1.94	43d	1	0.63mi

HOA detail condo

• Monthly dues: $635 · $7,620/yr
• Likely covers: waterlandscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-18
   days on market $190,000 Active 69 DOM
2. 2026-06-17
   days on market $190,000 Active 68 DOM
3. 2026-06-16
   days on market $190,000 Active 67 DOM
4. 2026-06-15
   days on market $190,000 Active 66 DOM
5. 2026-06-13
   days on market $190,000 Active 64 DOM
6. 2026-06-09
   days on market $190,000 Active 60 DOM
7. 2026-06-08
   days on market $190,000 Active 59 DOM
8. 2026-06-07
   days on market $190,000 Active 58 DOM
9. 2026-06-03
   days on market $190,000 Active 54 DOM
10. 2026-06-02
    days on market $190,000 Active 53 DOM
11. 2026-06-01
    days on market $190,000 Active 52 DOM
12. 2026-05-31
    days on market $190,000 Active 51 DOM
13. 2026-05-19
    price $190,000 631-char remark

    Show marketing remark (631 chars)

    Rare opportunity to own a 3-bedroom, 1.5-bath condo in the desirable Camelback Village community in Olney! This top-floor unit is filled with natural light and features hardwood flooring throughout the main living areas, a private balcony, and the convenience of an in-unit washer and dryer. The kitchen and bathrooms offer a classic layout with room to update and make your own. Condo fee includes water, heating, and A/C for added value. Community amenities include a pool, tennis courts, playgrounds, and ample parking. With a little vision, this home presents the perfect opportunity to create your ideal space! Unit door #119.

14. 2026-04-28
    status Active 631-char remark

    Show marketing remark (631 chars)

    Rare opportunity to own a 3-bedroom, 1.5-bath condo in the desirable Camelback Village community in Olney! This top-floor unit is filled with natural light and features hardwood flooring throughout the main living areas, a private balcony, and the convenience of an in-unit washer and dryer. The kitchen and bathrooms offer a classic layout with room to update and make your own. Condo fee includes water, heating, and A/C for added value. Community amenities include a pool, tennis courts, playgrounds, and ample parking. With a little vision, this home presents the perfect opportunity to create your ideal space! Unit door #119.

15. 2026-04-19
    historical Active Under Contract 631-char remark

    Show marketing remark (631 chars)

    Rare opportunity to own a 3-bedroom, 1.5-bath condo in the desirable Camelback Village community in Olney! This top-floor unit is filled with natural light and features hardwood flooring throughout the main living areas, a private balcony, and the convenience of an in-unit washer and dryer. The kitchen and bathrooms offer a classic layout with room to update and make your own. Condo fee includes water, heating, and A/C for added value. Community amenities include a pool, tennis courts, playgrounds, and ample parking. With a little vision, this home presents the perfect opportunity to create your ideal space! Unit door #119.

16. 2026-04-17
    status Active 631-char remark

    Show marketing remark (631 chars)

    Rare opportunity to own a 3-bedroom, 1.5-bath condo in the desirable Camelback Village community in Olney! This top-floor unit is filled with natural light and features hardwood flooring throughout the main living areas, a private balcony, and the convenience of an in-unit washer and dryer. The kitchen and bathrooms offer a classic layout with room to update and make your own. Condo fee includes water, heating, and A/C for added value. Community amenities include a pool, tennis courts, playgrounds, and ample parking. With a little vision, this home presents the perfect opportunity to create your ideal space! Unit door #119.

17. 2026-04-11
    historical Active Under Contract 631-char remark

    Show marketing remark (631 chars)

    Rare opportunity to own a 3-bedroom, 1.5-bath condo in the desirable Camelback Village community in Olney! This top-floor unit is filled with natural light and features hardwood flooring throughout the main living areas, a private balcony, and the convenience of an in-unit washer and dryer. The kitchen and bathrooms offer a classic layout with room to update and make your own. Condo fee includes water, heating, and A/C for added value. Community amenities include a pool, tennis courts, playgrounds, and ample parking. With a little vision, this home presents the perfect opportunity to create your ideal space! Unit door #119.

18. 2026-03-26
    listed $199,999 Active 631-char remark

    Show marketing remark (631 chars)

    Rare opportunity to own a 3-bedroom, 1.5-bath condo in the desirable Camelback Village community in Olney! This top-floor unit is filled with natural light and features hardwood flooring throughout the main living areas, a private balcony, and the convenience of an in-unit washer and dryer. The kitchen and bathrooms offer a classic layout with room to update and make your own. Condo fee includes water, heating, and A/C for added value. Community amenities include a pool, tennis courts, playgrounds, and ample parking. With a little vision, this home presents the perfect opportunity to create your ideal space! Unit door #119.

19. 2026-03-03
    historical $199,999 631-char remark

    Show marketing remark (631 chars)

    Rare opportunity to own a 3-bedroom, 1.5-bath condo in the desirable Camelback Village community in Olney! This top-floor unit is filled with natural light and features hardwood flooring throughout the main living areas, a private balcony, and the convenience of an in-unit washer and dryer. The kitchen and bathrooms offer a classic layout with room to update and make your own. Condo fee includes water, heating, and A/C for added value. Community amenities include a pool, tennis courts, playgrounds, and ample parking. With a little vision, this home presents the perfect opportunity to create your ideal space! Unit door #119.

20. 2004-08-27
    soldstatus $176,000
21. 1996-06-25
    historical
22. 1996-05-15
    listed
23. 1988-05-05
    soldstatus $59,000
24. 1979-04-17
    soldstatus $37,500

ⓘ 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: $1,581 · $132/mo
• Projected year-2 tax: $1,826 · $152/mo
• Expected delta: +$245/yr (+$20/mo · 15.5%)

ⓘ 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 6/10 Major 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 14% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,426
• − Mortgage interest: −$10,643
• − Property taxes: −$1,581
• − Insurance: −$950
• − Repairs & maintenance: −$2,674
• − Management: −$2,674
• − HOA: −$7,620
• − Depreciation: −$5,527
• Taxable income: $1,757
• Est. tax owed @ 24.0%: −$422
• After-tax cash flow: $3,877/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: Montgomery County Public Schools
• NCES district ID: 2400480
• Math proficiency: 27% ▼ -21.00%
• Reading proficiency: 45% ▼ -10.00%
• Median HH income: $97,191
• Composite: 35.62/100
• National rank: #4889
• State rank: #3 of 24 in MD

Livability — Olney

• Score: 81/100
• State rank: #40
• US rank: #1468

Category grades

Amenities B- Commute C+ 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: Olney, MD
• County: Montgomery County · 961,106 people
• City population: 25,553
• Metro: Washington-Arlington-Alexandria, DC-VA-MD-WV
• Population (ZIP): 25,553
• Household income: $168,524
• Rent vs Own: 13.1% rent · 86.9% own
• Severe rent burden: 374.0

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 1,173,231 people
• By 2030: 1,237,402 · +5.5%
• By 2040: 1,365,115 · +16.4%
• By 2050: 1,491,592 · +27.1%
• By 2075: 1,803,893 · +53.8%
• By 2100: 2,035,619 · +73.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 56% Black 14% Two or more races 12% Hispanic / Latino 12% Asian 12%
• Common ancestry: Scotch-Irish 4% Italian 4% Romanian 3%
• Foreign-born: 22% · Canada, South Korea, China
• Languages at home: 73% English-only · Spanish 7% Other Indo-European 5% Korean 3%

Political lean MEDSL · Montgomery

• 2024 margin: Solid D (+53.3) · D 75.2% · R 21.9% · Other 2.9%
• 2008→2024 swing: +8.7pp toward D · 2008: 44.6pp · 2024: 53.3pp
• All cycles: 2024: D+53.3 2020: D+59.6 2016: D+55.5 2012: D+43.4 2008: D+44.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -359.69%
• Current HPI: 270.4649
• Rent YoY: —
• 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

+406.7% since first listed

12 events — show timeline

• 2026-05-19 Price Changed $190,000 BRIGHT MLS
• 2026-04-28 Relisted — BRIGHT MLS
• 2026-04-19 Contingent — BRIGHT MLS
• 2026-04-17 Relisted — BRIGHT MLS
• 2026-04-11 Contingent — BRIGHT MLS
• 2026-03-26 Listed $199,999 BRIGHT MLS
• 2026-03-03 Coming Soon $199,999 BRIGHT MLS
• 2004-08-27 Sold (Public Records) $176,000 Public Records
• 1996-06-25 Delisted — MRIS
• 1996-05-15 Listed — MRIS
• 1988-05-05 Sold (Public Records) $59,000 Public Records
• 1979-04-17 Sold (Public Records) $37,500 Public Records

Property tax history

+1.9%/yr

Latest (2025): $1,581 · +11.9% YoY. Source: county tax records.