17822 Buehler Rd Unit 1-B-2

Olney, MD 20832

$160,000D

1 bd · 1.0 ba · 719 sqft · Built 1973 · Condo · Active · 20 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,917/mo
• Mortgage (P&I): −$839
• Tax + insurance: −$267
• HOA: −$467
• Vac / Maint / Mgmt: −$403
• Net cashflow: $-58/mo
• Annual: $-700/yr
• Cap rate: 5.86%
• Cash-on-cash: -1.56%
• DSCR: 0.93
• 1% rule: 1.20%
• Cash to close: $44,800

Investor read

• This is a 1-bed/1.0-bath condo listed at $160k. Condition is rated fair.
• At list price, monthly cash flow is $-58 ($-700/yr) — negative.
• To cash-flow at today's rent, offer at most $152k (5.3% below list).
• Meets the 1% rule at list price ($2k rent vs $160k).
• It's been on market 20 days — a 2% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $152k (5.3% below list) — sets the bar for cash-flow.
• 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.
• 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.
• Watch-outs: HOA is 24% of rent.
• Market conditions: 77 active listings in the ZIP; high-income renter base; 3,880 units permitted in Montgomery County in 2024 (2,054 in 5+ unit buildings).
• Montgomery County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 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.
• Cap rate 5.9% 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.
• This rent is only 14% of the median local income ($169k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• 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?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?

Repairs flagged (vision-AI assessment)

• Minor: paint — Paint appears slightly worn in some areas.
• None: HVAC — HVAC was replaced in 2019, as per listing remarks. No visible signs of wear or damage.
• None: flooring — Carpeted flooring in good condition, no visible signs of wear or damage.
• Minor: interior walls — Paint appears slightly worn in some areas.
• None: exterior — No exterior visible in the provided photos.
• None: roof — No roof visible in the provided photos.